systemic bliss® newsletter

Share this post
World Bank Slams Bitcoin, Declines to Help El Salvador's Cryptocurrency Plan | Saylor Files with SEC for $1B MicroStrategy Stock Offering
systemicbliss.substack.com

World Bank Slams Bitcoin, Declines to Help El Salvador's Cryptocurrency Plan | Saylor Files with SEC for $1B MicroStrategy Stock Offering

Top stories and news you should know in the bitcoin, crypto, and decentralized markets

Jack Hermes
Jun 18, 2021
Share this post
World Bank Slams Bitcoin, Declines to Help El Salvador's Cryptocurrency Plan | Saylor Files with SEC for $1B MicroStrategy Stock Offering
systemicbliss.substack.com

“I'm fully converted to crypto. You have to pay to learn; there's no way around it. You can talk all you want, but you've got to get in the game…

The timing is never good. Who knows if it's going to go up? I don't care about the bitcoin price. I care more about the blockchain technology and how disruptive it could be. The way those markets are developing could be a real interesting adjacency to what we do…

I'm not going to miss this. I missed the first part, but I still feel like I'm early. I may look foolish initially, but it accordingly to learn the game. And then, when you're confident, take it to the next level.”

— Steve Cohen (Billionaire, Point72 founder, and Mets owner)


High Level

  • El Salvador moved to adopt a dual currency system with Bitcoin and the US Dollar being accepted as legal tender, upsetting many in the academic and financial communities who’ve said it could not and would not be done, period.

  • The IMF and World Bank have said they will not help with their new system, so it will not be easy for them but the reward will be so much better that they access bitcoin and its technology that can’t be manipulated by central banks or their fellow cronies.


World Bank Slams Bitcoin, Who’s It Really Protecting?

Last week the government of El Salvador passed a law to accept bitcoin (BTC) as legal tender alongside the world’s reserve currency, the US Dollar (USD).

In a monumental move, El Salvador’s decision to accept BTC was a major step forward for them to get away from rising inflation, interest rate fluctuations, and being mostly unbanked to “become their own bank” with bitcoin. The IMF first made a statement from a spokesmen, Gerry Rice, saying at a press briefing that there was a number of macroeconomic, financial, and legal issues that require very careful analysis. This week, the World Bank didn’t hold back in declaring, “We are committed to helping El Salvador in numerous ways, including for currency transparency and regulatory processes, while the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.” Central banks, the IMF, and the World Bank as privately owned institutions, independent from governments, managed by unelected bureaucrats are protecting their own power by maintaining the status quo because bitcoin has embarrassed them by doing more in ten years has than they could have ever accomplished in more than one hundred years.

Bitcoin goes against the Luddites’ old financial canon of infinite money, closed-off networks of influence, and power over the interest rates for rent-seeking people’s own money. The man behind the brilliant move that helped El Salvador make a giant leap for humankind, Jack Mallers, showed them the benefits and possibilities that bitcoin can bring them not only as an asset but as a network with the ability to enable the Bitcoin Lightning Network for scalable off-chain instant payments. In short, it speeds up the time a bitcoin transaction takes place by doing it over another layer above the bitcoin core protocol to allow users to make peer-to-peer payments at very little cost.

These developments with the Lightning Network and Jack Maller’s Strike app allows people to convert their BTC to USD or their local currency in a frictionless manner that is not gated and guarded by banks, borders, fees, or slow settlement times. Forcing another nation and people to use a broken currency that has increased its total issuance by 40% over the time that bitcoin has existed like the US Dollar has not only is evil, but it is morally against what central banks, IMF, and World Bank claim to be fostering in their work within the global economy. Those institutions give people a false idea of belief that they are there to help them by bringing value and stability, but in reality the truth is that they are instilling a slow deliberate demoralization of the population by making them hold a currency that depreciates in value until they as debtors must resort to extreme measures to survive such as forced labor or selling off their natural or precious resources in order to meet loan obligations to their creditors.

There is a reason why bitcoin-ers say, “Fix the money. Fix the world.” It is because their firm belief that a currency that is as secure and sound as bitcoin with an auditable blockchain and open source code that anyone can run beats the current financial system that’s basically operated by a black box dictated by a select group of people who dilutes the money supply as well as destroys and pollutes the environment in orders of magnitude more than Bitcoin. The market is telling a story that the better money wins out because bitcoin versus the US Dollar not only outperforms it, but BTC also incentivizes better behavior and decision-making, cleaner energy sources, and an engaged as well as enhanced society that is free from the burdens of corruption, censorship, unbridled inflation, steep fees, high barriers to entry, and slow payments.

If central banks like the Federal Reserve along with the IMF and World Bank were as smart as they claim, they would have prevented or softened the massive blows from Black Tuesday in 1929 or the Global Financial Crisis of 2008 to name a couple instances of their ignorance. They want people to think that bitcoin has environmental and transparency shortcomings, but the fact is that the US Dollar is backed by Saudi oil as well as the United States military complex while being printed on paper that’s made from trees so maybe it is the one that needs to reexamine its priorities.

El Salvador with their Bitcoin Bill, including the two articles above, delivered a major shot over the bow of the central banks, IMF, and World Bank.

TL;DR — The powers at be in the financial system are figuring out what they’re going to do as nations are waking up to their lies, illusions, and sleight-of-hand.

Download Strike: Send and Spend Bitcoin

Twitter avatar for @Crypto_MagsMAGS 🟩🌋⛏ @Crypto_Mags
🤡🙃 @WorldBank cannot support #ElSalvador w/ #Bitcoin due to it's environmental & transparency shortcomings... Meanwhile:
Image

Bitcoin Beach @Bitcoinbeach

Is #ElSalvdor playing 4D Chess with World Bank? https://t.co/131U5BNrSL

June 18th 2021

10 Retweets49 Likes

News You Should Know

Paul Tudor Jones Could Go ‘All In’ on Inflation Trades, Wants 5% Bitcoin Allocation

The famed hedge fund manager and investor that advises the Federal Reserve on CNBC this week said that he would “go all in on inflation trades” if the U.S. Federal Reserve keeps discounting rising consumer prices. Jones clarified his inflation trades saying, “I’d probably buy commodities, buy crypto, buy gold.” He continued on to say why he likes bitcoin as a great way to protect wealth over the long run, comparing it to gold, and why he upped his bet on bitcoin from 1% to 2% of his total assets under management to a target allocation that is 5% bitcoin…

Read More Here

Twitter avatar for @SquawkCNBCSquawk Box @SquawkCNBC
"The only thing that I know for certain is I want to have 5% in #gold, 5% in #bitcoin, 5% in cash, 5% in commodities," said legendary investor @ptj_official.
Image

June 14th 2021

928 Retweets3,305 Likes

Saylor Files with SEC for $1B MicroStrategy Stock Offering

After closing his latest $500M senior secured note offering on the 14th with bitcoin use of the proceeds, Michael Saylor confirmed in a recent interview that MicroStrategy filed with the SEC for a stock offering of $1B. He said that it would allow for equity to be issued in the future so that his company can purchase more BTC and retire debt, alongside other corporate purposes. The enterprise software company soon will have more than 100,000 BTC on its balance sheet…

Read More Here

Twitter avatar for @michael_saylorMichael Saylor @michael_saylor
MicroStrategy Launches “At the Market” Securities Offering for Flexibility to Sell Up to $1 billion of its Class A Common Stock Over Time $MSTR
MicroStrategy Launches “At the Market” Securities Offering for Flexibility to Sell Up to $1 Billion of its Class A Common Stock Over TimeMicroStrategy’s business analytics and mobility platform helps enterprises build and deploy analytics and mobility apps to transform their business.microstrategy.com

June 14th 2021

2,158 Retweets13,103 Likes

Taproot Activation Brings Massive Upgrades to Bitcoin

New rules defined by a series of Bitcoin Improvement Proposals (BIPs) have been activated and started to be enforced in a momentous achievement for Bitcoin to enable it many capabilities at the protocol layer as well as those being built on top of it too. This Taproot upgrade had virtually no push back and the changes proposed in BIP340, BIP341, and BIP342 bring added privacy and optimizations as well as allowing new features in the future without any new security assumptions. After coming to an agreement on how to activate it, Taproot now allows users to create multiple spending rules for their funds but with the added privacy of only revealing the rules that were used for that transaction, and in some cases there is no need to even reveal there ever were other spending rules…

Read More Here

Twitter avatar for @BitMEXResearchBitMEX Research @BitMEXResearch
And a nice video from
taproot.watch
Image

BitMEX Research @BitMEXResearch

Bitcoin's softfork Taproot upgrade is now locked-in!!! https://t.co/2ENYz4eLZu #taproot https://t.co/XKdCkO8TuU

June 12th 2021

9 Retweets50 Likes

Pictures Say 1,000 Words, Memes Say 10,000

Twitter avatar for @systemic_blisssystemic bliss® @systemic_bliss
Caddyshack Judge GIF

The Wall Street Journal @WSJ

Many young professionals are less keen than their parents in being tied down by a 30-year mortgage, real-estate analysts say. They want the flexibility of renting and the freedom that comes with being able to pick up and leave. https://t.co/dFMQdKhTZh

June 13th 2021

Twitter avatar for @systemic_blisssystemic bliss® @systemic_bliss
…AND THAT MONEY OF THE PEOPLE, BY THE PEOPLE, FOR THE PEOPLE, SHALL NOT PERISH FROM THE EARTH. — ABRAHAM LINCOLN (talking about #bitcoin)
Its History Yo GIF

June 14th 2021

Twitter avatar for @BillyM2kShibetoshi Nakamoto @BillyM2k
Image

June 14th 2021

2,878 Retweets29,372 Likes
Twitter avatar for @Melt_DemMeltem Demir◎rs @Melt_Dem
@elonmusk @BitcoinMagazine @jespow LOL nailed it @compass_mining
Image

June 17th 2021

63 Retweets797 Likes
Twitter avatar for @cmsholdingsCMS : Blockfolio @cmsholdings
Image

June 17th 2021

944 Retweets7,464 Likes

Positive Vibes Only

Twitter avatar for @BitMEXResearchBitMEX Research @BitMEXResearch
Although taproot locked-in yesterday, now Bitcoin Core is reporting Taproot as locked-in.
Image

June 13th 2021

22 Retweets202 Likes
Twitter avatar for @BitcoinMagazineBitcoin Magazine @BitcoinMagazine
These U.S. States want your #Bitcoin mining business 👇 -Texas -Wyoming -Illionis -Nebraska -Kentucky -Tennessee Read more about how these states are actively vying to attract bitcoin mining businesses, written by @willms_:
bitcoinmagazine.com/business/u-s-o…These U.S. States Want Your Bitcoin Mining BusinessSeveral U.S. states, including Texas, Wyoming and Illinois, are actively vying to attract bitcoin mining businesses.bitcoinmagazine.com

June 15th 2021

131 Retweets480 Likes
Twitter avatar for @JasonYanowitzYano @JasonYanowitz
“I’m fully converted to crypto… I’m not going to miss this.” – Steve Cohen (Point72 founder, Mets owner) Source: @jsmian
Image

June 18th 2021

30 Retweets120 Likes

Thought Provoking Tweets

Twitter avatar for @systemic_blisssystemic bliss® @systemic_bliss
the simpsons art GIF by hoppip

zerohedge @zerohedge

“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.” Vladimir Lenin

June 12th 2021

Twitter avatar for @DocumentingBTCDocumenting Bitcoin 📄 @DocumentingBTC
U.S. Senator Pat Toomey wrote a letter to Treasury Secretary Janet Yellen this week about cryptocurrencies. “Cryptocurrencies stand to dramatically improve consumers’ privacy, access to financial services, and power to make decisions for themselves,” says the Senator.
Image
Image
Image
Image

June 13th 2021

562 Retweets2,695 Likes
Twitter avatar for @BitcoinMagazineBitcoin Magazine @BitcoinMagazine
#Bitcoin emits less than 2% of the world’s military-industrial complex carbon emissions.
Image

June 15th 2021

1,784 Retweets5,541 Likes
Twitter avatar for @charliebilelloCharlie Bilello @charliebilello
US Export Prices increased 17.4% over the last year, the highest increase on record. Charting via @ycharts
Image

June 16th 2021

29 Retweets92 Likes
Twitter avatar for @GRDecterGenevieve Roch-Decter, CFA @GRDecter
Men will literally invest in wooden pallets instead of going to therapy.
Image

June 16th 2021

200 Retweets1,364 Likes

Tweets Moving the Markets

Twitter avatar for @DeItaone*Walter Bloomberg @DeItaone
MUSK-TESLA WILL RESUME BITCOIN TRANSACTION WHEN THERE’S CONFIRMATION OF REASONABLE(ABOUT 50%)CLEAN ENERGY USAGE BY MINERS WITH POSITIVE FUTURE TREND

June 13th 2021

402 Retweets3,284 Likes
Twitter avatar for @systemic_blisssystemic bliss® @systemic_bliss
MicroStrategy® Use of Proceeds: “We intend to use the net proceeds from the sale of any class A common stock offered under this prospectus for general corporate purposes, including the acquisition of bitcoin, unless otherwise indicated in the applicable prospectus supplement.”

Michael Saylor @michael_saylor

MicroStrategy Launches “At the Market” Securities Offering for Flexibility to Sell Up to $1 billion of its Class A Common Stock Over Time $MSTR https://t.co/qouK8pFmBF

June 14th 2021

Twitter avatar for @systemic_blisssystemic bliss® @systemic_bliss
#Bitcoin fixes this 😉 https://t.co/6uFJ4LVpPR

*Walter Bloomberg @DeItaone

*Fed Projects Inflation at 3.4% in 2021, Up From Earlier 2.4% Estimate

June 16th 2021

Twitter avatar for @systemic_blisssystemic bliss® @systemic_bliss
https://t.co/VEQGeV0io4
Wizrd Of Oz Pay No Attention GIF

*Walter Bloomberg @DeItaone

YELLEN: DO NOT BELIEVE WE'RE AT RISK OF HYPER-INFLATION

June 17th 2021

Twitter avatar for @lisaabramowicz1Lisa Abramowicz @lisaabramowicz1
While traders talk about the Fed tapering its bond buying, the central bank actually boosted its asset purchases in the past week to the most in three months. The Fed's balance sheet crossed the $8 trillion mark for the first time ever.
Image

June 18th 2021

357 Retweets1,014 Likes

Other Investment News

  • Anti-Cryptocurrency Mining Bill Dies In New York Legislature — WSHU

  • Banking Giant BBVA Debuts Bitcoin Trading and Custody for Swiss Clients — CoinTelegraph

  • Bitcoin Mining Council: We Must Counter ‘Misinformation’ About Bitcoin’s Environmental Damage — CoinDesk

  • BofA's New Inflation Meter Shows Transitory Hyperinflation — ZeroHedge

  • Cryptocurrency wins votes of confidence from Gov. Abbott, Texas Department of Banking — The Dallas Morning News

  • Deutsche Bank Issues Stark US Inflation Warning, Seeing Economic Parallels to 1940s, 1970s — CoinDesk

  • Environmentalist Groups File Complaint To Block Tesla's German Gigafactory Construction — ZeroHedge

  • First Approved Brazilian Bitcoin ETF Seeks To Raise 500 Million BRL ($90,000,000 USD) — Forbes

  • Goldman Sachs Ramps Up Bitcoin Trading in New Partnership with Mike Novogratz’s Galaxy Digital — CNBC

  • GOP U-turn: House Republicans Begin Accepting Cryptocurrency Donations — CoinTelegraph

  • Hedge Funds Plan to Allocate 7% of Portfolios in Cryptocurrencies by 2026: FT Survey — CryptoPotato

  • JPMorgan Sees Signal of Coming Bear Market in Bitcoin — Bloomberg

  • Lightning Network Hits Record Capacity As Adoption Grows — BTC Times

  • Mark Cuban Calls for Stablecoin Regulation After Trading Token That Crashed to Zero — Bloomberg

  • Most Fund Managers Say Bitcoin Still in a Bubble: Bank of America Survey — CoinDesk

  • Navalny Ally Urges Donors to Use Cryptocurrency Due to Crackdown — Reuters

  • NYDIG, FS Investments File to Offer Another Bitcoin Fund Through Morgan Stanley — Bitcoin Magazine

  • Report: Global Investment Funds Hold More Than $43 Billion in Bitcoin — Bitcoin Magazine

  • The SEC Has No Plans To Regulate Bitcoin in 2021 — TheStreet

  • Sichuan Becomes Latest Chinese Province to Order Bitcoin Miner Shutdown — CoinDesk

  • Tesla Will Resume Taking Bitcoin as Payment Once Miners Go 50% Green, Musk Says — CoinDesk

  • Things Are "Bat-Shit Crazy" Right Now - Paul Tudor Jones Likes Bitcoin, Debunks Transitory Inflation Narrative — ZeroHedge

  • U.S. Solar Installations Soared by 46% in the First Quarter — CNBC


Additional Reading

  1. Lightning Ubiquity and the United Nations of Bitcoin by Ryan Gentry

  2. Bitcoin Is Heavily Oversold & Strong Hands Can't Stop Buying by Anthony Pompliano


Thanks for Reading!

You can find more content like this on our website here and subscribe to receive more of these newsletters and stories here

Share systemic bliss® newsletter


DISCLAIMER
An investment in any asset or strategy involves a high degree of risk and there is always the possibility of loss, including the loss of principal. Nothing written above may be considered as an offer or solicitation to purchase or sell securities or other services. The trading and investing ideas and strategies discussed above are not recommendations to buy or sell any security and are not intended to provide any investment advice and/or recommendations of any kind, but are made available solely for educational and informational purposes. Before acting on information from above, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser. Data sources are from publicly available outlets and news. Figures may have changed or incorrect, please do your own research.
Share this post
World Bank Slams Bitcoin, Declines to Help El Salvador's Cryptocurrency Plan | Saylor Files with SEC for $1B MicroStrategy Stock Offering
systemicbliss.substack.com
TopNew

No posts

Ready for more?

© 2022 JACK HERMES
Privacy ∙ Terms ∙ Collection notice
Publish on Substack Get the app
Substack is the home for great writing