1. Bitcoin defended by Congressmen
“I think there’s no capacity to kill #bitcoin. — Even the Chinese with their firewall and extreme intervention in their society could not kill Bitcoin,” - Patrick McHenry, US Congressman
I have to say I'm so impressed with the level of knowledge of crypto from US Congressman and Congresswomen. They understand the difference between Libra and Bitcoin. They are worried about Libra, not #Bitcoin.
2. Bitcoin network settling $3B daily
The beauty of Bitcoin is that it acts as an incentive for people to learn more about monetary history, central banking, inflation, the legacy fin system, and fin. service firms. Unfortunately, the traditional education system neglects to cover many of these areas 💯💯
3. Grin executed first hard fork
To ensure ASIC mining rigs aren't built for the network's GPU-friendly mining algorithm, privacy-focused #cryptocurrency Grin executed the first of four planned hard forks spread out over the network's first two years. Grin Cryptocurrency Executes First Hard Fork. Privacy-oriented cryptocurrency Grin has just executed its first backward-incompatible upgrade, also called a hard fork. Read more
4. ZCash conducts”friendly fork”
#ZCash Friendly Ycash Fork Goes Smoothly After Delay (Cryptoglobe) A new cryptocurrency was born on Friday: Ycash was spawned in a so-called "friendly-fork" of #ZCash and aspires to...Read more
#calibra
5. Bitcoin now over 65% dominance
$BTC Dominance and $ALTS
Currently, BTC sits a weekly open and at 65% and want to see this reduce significantly before investing into altcoins
$ETH (the S&P of alts) is sitting at monthly support, it needs to hold and it all lies on Bitcoin's future price action
Seems as if we are heading to an 80% #bitcoin market dominance again that we had prior to the last bubble. This means:
• BTC goes up further
• Alts go down further
• A combo of 1 and 2
It is all about true value and it seems the market values $BTC a lot.
6. Bitcoin still not dead :)
You can’t value a network asset like Bitcoin with a financial asset valuation model.
The value drivers are different.
Bitcoin isn’t driven by revenue, profits, GDP, interest rates, etc.
The value is driven by network effects, both in users and security.
Another week of progress towards the ultimate goal 🔥
Love,
Mr. Power Up ⚡