October 28, 2022

🎶 ☮️ Imagine all the people... using bitcoin

Bitcoin promotes peace and abundance over war and scarcity.

Joe Lupo
Joe Lupo

Reserve Client Manager

🎶 ☮️ Imagine all the people... using bitcoin

Table of contents

🎶 ☮️ Imagine all the people... using bitcoin

World War One ended the classical gold standard. Until the war, governments pledged to redeem currencies for definite amounts of gold. The US government redeemed at a rate of $20.67 per ounce, the British government at £4.25 per ounce, and so on. The gold standard anchored each currency to a specific amount of gold, preventing nations from printing money in excess without devaluing their currency against others.

At the time, no one thought the war would last more than a few months. People believed in sound money, and governments could only finance war by raising taxes or issuing large amounts of debt- something the citizenry would not tolerate. During the war, however, major powers abandoned the gold standard, substituting credit and money printing. Nascent central banks became government tools to finance the war effort.

Governments attempted to return to the gold standard in the following years, but the damage was done. The last semblance of commodity-backed money died by decree in 1971. Discretionary central banking and inflationary financing proved too great a tool for governments to give up, providing them with a powerful method for achieving various political ends, often masked as responses to crises.

Fortunately, one monetary network can return the world to sound money. Bitcoin's finite supply and rule-based network would reimpose discipline on governments, restricting their ability to fund political objectives like war.

News

💳 US Credit card debt reaches all-time high

A Federal Reserve report reveals credit card debt soared to nearly $1 trillion as Americans deal with the realities of sustained inflation. Far from transitory, inflation has remained well above 7% for all of 2022. To cope with higher prices, Americans are dipping into their savings and going further into debt. Younger Americans aged 18 to 29 have the highest delinquency rate, 76% higher than any other age group.  

🤐 Bitcoin: The new stablecoin?

Bitcoin's volatility dropped below the Nasdaq and S&P 500 for the first time since 2020. Market data provider Kaiko reported the story: "Bitcoin's volatility is at multi-year lows while equity volatility is only at its lowest level since July." Any news regarding bitcoin's decoupling from legacy markets is intriguing, especially when there appears to be no safe haven asset for investors.

🍁 Canadian credit card measures carbon emissions

Canada's largest community credit union is releasing a card that will "allow" users to estimate their carbon emissions based on the businesses they frequent. The card "fits into the credit union's overall push for green banking solutions."

It's only a matter of time until this feature is no longer just for informational purposes and results in limitations on customers' purchases that don't align with the desires of those in power—got bitcoin?

💪 Nearly 80% of bitcoin has not moved in six months

A new all-time high of 78% of the bitcoin supply has not been sold for at least six months. Another all-time high of 66% of all bitcoin has not moved in over one year.  

This "hodling" comes amid soaring inflation, record financial market declines, and massive geopolitical uncertainty. While global tensions rise, bitcoiners gain more conviction every day.

Bitcoin adoption continues

Stone Ridge Holdings Group officially launched their bitcoin lightning network accelerator in New York City called Wolf.

KPMG China reported that 58% of the "ultra-rich" in Hong Kong and Singapore are investing in Bitcoin and digital assets.

Global bitcoin payments are projected to grow 16.3% annually through 2031, according to new data from Allied Market Research.

The Bitcoin Whitepaper is presented in the streets of Scotland.

Bank of America says bitcoin may become a safe haven amid financial market downturns.

Synota, a bitcoin technology company, raised $3 million this week to provide transactional flexibility and instant settlements to the energy industry via the Bitcoin Lightning Network.

Bitcoin outperformed all major asset classes, including equities and major currencies, except for the dollar index in Q3 2022.

CashApp has officially integrated the Bitcoin Lightning Network onto its platform.

Twitter Spaces Logo

Special announcement:
New Coinbits Ambassador

Join us to find out who it is and discuss bitcoin and macro topics. The conversation takes place on Twitter Spaces at 2:00 PM EST on Friday, October 26.

No registration required but make sure you follow @CoinbitsApp and set reminder to get notified when we're live.

Follow @CoinbitsApp to join

How bitcoin works

Learn one key idea about bitcoin each week. This week: Bitcoin is peace.

No one likes war. After all, what is it good for?  

Absolutely nothing, right?

Unfortunately, that's not exactly true.

A mighty group of special interests, known as the military-industrial complex, benefit directly from war.

These weapons contractors, lobbyists, and the politicians they put in power reap massive amounts of fiat rewards in the name of "defense."

Their incentive structure calls for more war, not less. The more they can justify military action, the more they can dip into the fiat treasure chest.

To go to war, governments need money and support from their constituents. In the past, governments had to collect taxes or raise money via war bonds from their citizens to fund military operations.

But with fiat currencies like the US dollar, it's relatively easy for special interests to funnel money into war efforts without the public knowing.

However, because bitcoin transactions are recorded on a public blockchain, they are much more transparent. It would be difficult for governments or other entities to finance projects on a bitcoin standard secretly.

Additionally, because bitcoin doesn't depreciate like dollars, it would be even more difficult for governments to convince constituents that funding a war is worth sacrificing their hard-earned savings.

To fund wars with bitcoin, governments would have to convince citizens the cause was worth fighting for—something much harder to do if people knew how much of their money was funding the effort.

This is why bitcoin has the potential to be a powerful force for peace in our world.

By reimposing fiscal and political discipline on our runaway leaders, we can help create a world where wars are less common and less devastating when they do occur.

Are you ready to begin your bitcoin journey?

When it comes to getting started with bitcoin quickly and safely, Coinbits is the best option. It's free to create your Coinbits account. Withdrawing or selling your bitcoin is free of charge, too.

Sign up for Coinbits

Coin check

Which of the following is NOT a feature of bitcoin?

  1. Permissionless
  2. Reversible
  3. Immutable
  4. Fixed supply

Check your answer at the end of the page.

From the meme pool

Follow us on Twitter for more fresh bitcoin content

What to do next

➡️ Want bitcoin? Sign up for Coinbits.

➡️  Orange pill the whole family. Get the “Bitcoin for Kiddos” book. 10% off your order with code: Coinbits

➡️ Need coffee? Shop Queen City Coffee Roasters and get 15% OFF your order with promo code BITCOINROUNDUP

➡️ Want to work with us? Explore careers at Coinbits.

PS - We're launching something new next month that you're going to love! 😉

Answer: 2. Reversible

October 27, 2022

🎶 ☮️ Imagine all the people... using bitcoin

Bitcoin promotes peace and abundance over war and scarcity.

Joe Lupo
Joe Lupo

Investor Relations

🎶 ☮️ Imagine all the people... using bitcoin

World War One ended the classical gold standard. Until the war, governments pledged to redeem currencies for definite amounts of gold. The US government redeemed at a rate of $20.67 per ounce, the British government at £4.25 per ounce, and so on. The gold standard anchored each currency to a specific amount of gold, preventing nations from printing money in excess without devaluing their currency against others.

At the time, no one thought the war would last more than a few months. People believed in sound money, and governments could only finance war by raising taxes or issuing large amounts of debt- something the citizenry would not tolerate. During the war, however, major powers abandoned the gold standard, substituting credit and money printing. Nascent central banks became government tools to finance the war effort.

Governments attempted to return to the gold standard in the following years, but the damage was done. The last semblance of commodity-backed money died by decree in 1971. Discretionary central banking and inflationary financing proved too great a tool for governments to give up, providing them with a powerful method for achieving various political ends, often masked as responses to crises.

Fortunately, one monetary network can return the world to sound money. Bitcoin's finite supply and rule-based network would reimpose discipline on governments, restricting their ability to fund political objectives like war.

News

💳 US Credit card debt reaches all-time high

A Federal Reserve report reveals credit card debt soared to nearly $1 trillion as Americans deal with the realities of sustained inflation. Far from transitory, inflation has remained well above 7% for all of 2022. To cope with higher prices, Americans are dipping into their savings and going further into debt. Younger Americans aged 18 to 29 have the highest delinquency rate, 76% higher than any other age group.  

🤐 Bitcoin: The new stablecoin?

Bitcoin's volatility dropped below the Nasdaq and S&P 500 for the first time since 2020. Market data provider Kaiko reported the story: "Bitcoin's volatility is at multi-year lows while equity volatility is only at its lowest level since July." Any news regarding bitcoin's decoupling from legacy markets is intriguing, especially when there appears to be no safe haven asset for investors.

🍁 Canadian credit card measures carbon emissions

Canada's largest community credit union is releasing a card that will "allow" users to estimate their carbon emissions based on the businesses they frequent. The card "fits into the credit union's overall push for green banking solutions."

It's only a matter of time until this feature is no longer just for informational purposes and results in limitations on customers' purchases that don't align with the desires of those in power—got bitcoin?

💪 Nearly 80% of bitcoin has not moved in six months

A new all-time high of 78% of the bitcoin supply has not been sold for at least six months. Another all-time high of 66% of all bitcoin has not moved in over one year.  

This "hodling" comes amid soaring inflation, record financial market declines, and massive geopolitical uncertainty. While global tensions rise, bitcoiners gain more conviction every day.

Bitcoin adoption continues

Stone Ridge Holdings Group officially launched their bitcoin lightning network accelerator in New York City called Wolf.

KPMG China reported that 58% of the "ultra-rich" in Hong Kong and Singapore are investing in Bitcoin and digital assets.

Global bitcoin payments are projected to grow 16.3% annually through 2031, according to new data from Allied Market Research.

The Bitcoin Whitepaper is presented in the streets of Scotland.

Bank of America says bitcoin may become a safe haven amid financial market downturns.

Synota, a bitcoin technology company, raised $3 million this week to provide transactional flexibility and instant settlements to the energy industry via the Bitcoin Lightning Network.

Bitcoin outperformed all major asset classes, including equities and major currencies, except for the dollar index in Q3 2022.

CashApp has officially integrated the Bitcoin Lightning Network onto its platform.

Twitter Spaces Logo

Special announcement:
New Coinbits Ambassador

Join us to find out who it is and discuss bitcoin and macro topics. The conversation takes place on Twitter Spaces at 2:00 PM EST on Friday, October 26.

No registration required but make sure you follow @CoinbitsApp and set reminder to get notified when we're live.

Follow @CoinbitsApp to join

How bitcoin works

Learn one key idea about bitcoin each week. This week: Bitcoin is peace.

No one likes war. After all, what is it good for?  

Absolutely nothing, right?

Unfortunately, that's not exactly true.

A mighty group of special interests, known as the military-industrial complex, benefit directly from war.

These weapons contractors, lobbyists, and the politicians they put in power reap massive amounts of fiat rewards in the name of "defense."

Their incentive structure calls for more war, not less. The more they can justify military action, the more they can dip into the fiat treasure chest.

To go to war, governments need money and support from their constituents. In the past, governments had to collect taxes or raise money via war bonds from their citizens to fund military operations.

But with fiat currencies like the US dollar, it's relatively easy for special interests to funnel money into war efforts without the public knowing.

However, because bitcoin transactions are recorded on a public blockchain, they are much more transparent. It would be difficult for governments or other entities to finance projects on a bitcoin standard secretly.

Additionally, because bitcoin doesn't depreciate like dollars, it would be even more difficult for governments to convince constituents that funding a war is worth sacrificing their hard-earned savings.

To fund wars with bitcoin, governments would have to convince citizens the cause was worth fighting for—something much harder to do if people knew how much of their money was funding the effort.

This is why bitcoin has the potential to be a powerful force for peace in our world.

By reimposing fiscal and political discipline on our runaway leaders, we can help create a world where wars are less common and less devastating when they do occur.

Are you ready to begin your bitcoin journey?

When it comes to getting started with bitcoin quickly and safely, Coinbits is the best option. It's free to create your Coinbits account. Withdrawing or selling your bitcoin is free of charge, too.

Sign up for Coinbits

Coin check

Which of the following is NOT a feature of bitcoin?

  1. Permissionless
  2. Reversible
  3. Immutable
  4. Fixed supply

Check your answer at the end of the page.

From the meme pool

Follow us on Twitter for more fresh bitcoin content

What to do next

➡️ Want bitcoin? Sign up for Coinbits.

➡️  Orange pill the whole family. Get the “Bitcoin for Kiddos” book. 10% off your order with code: Coinbits

➡️ Need coffee? Shop Queen City Coffee Roasters and get 15% OFF your order with promo code BITCOINROUNDUP

➡️ Want to work with us? Explore careers at Coinbits.

PS - We're launching something new next month that you're going to love! 😉

Answer: 2. Reversible