Your daily snapshot from our OnChainFX markets dashboard.
There’s much to discuss and unpack this week in the global markets.
Bitcoin has rallied anew as a new currency crisis in Hong Kong rages, global trade tensions soar, and debt spending continues unabated. If feels like we’re at the beginning of the end, and I got less than reassuring answers from my crypto friends this weekend when I pondered:
“From here on out it seems every bitcoin pump will be fueled by something burning somewhere else in the world. Kinda shitty.”
The general response, “yep.”
This is the type of uneasiness that many of us felt back in 2009 during the financial crisis, 2011 during the original “debt sequester” and US credit downgrade, the Cyprus bank bail-ins and various Euro debt crises, Brexit, etc.
But now at least we have a winning horse to bet on!
That was cool for the past few years of bootstrapping bitcoin into relevance. But as we (if we?) go from $10k to $100k bitcoin, it seems that most everything that will be good for the island of misfit toys that is bitcoinland will prove bad for nearly everyone else.
The question we've been asking ourselves is where will bitcoinland ultimately live? Are we at the earliest stages of a “De-Americanization” in crypto? Maybe even in broader financial markets? Is the real future in Asia?
It’s the subject of the first segment we’re working on with Nathaniel Whittemore as part of our new Monday “Narrative Watch” segment.
Check it out and let us know what you think by responding directly to this email.
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Best of the Boards
Regulatory intrigue, bitcoin declarations of independence, lasers to avoid facial recognition technology, and a convergent macro narrative are all featured on this weeks Long Reads Sunday!
Every week we host an AMA session with one of our registry projects so that the community can ask questions and hear from the team. This board features transcripts from all our sessions for easy browsing. Want to participate in the next one? Join us on Telegram!
NLW is at it again with his Crypto Daily covering some of the top news of the day. August 1st was a big hit with news partnerships from Lolli and Safeway and CryptoKitties and the NBA. What a world.
Did I miss something?
Send me the link, your twitter handle and your best imitation compression algorithm write up. If I like it, I’ll include your bit next issue (with attribution).
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