Game Stop

There are signs of disturbance in the finaverse. Maybe diamond hands will start stacking sats and really make the game stop.

The Micheal Sailor Put

It once was the Fed put, now this trade is taken over by private billionaires.

#MSPUT

The Great Save

Speculating is rife at the moment, most of it very short term. Speculation about the distant future seems to be something of a fantasy and happening less and less. With "uncertainty" dominating the airways l long term thinking is falling away but i would say it is having a resurgence brought on in the domain of the bitcoiner.

On the cusp of 2021 I don't think it's to radical to say the world is in a terrible state. Global warming and a destructive leveraged economy red hot and ready to implode/explode. Saving money is the last thing on many peoples minds, finding yield on stagnant savings is the first thing on others. Saving us all from environmental doom is also a polarised topic at the forefront of short term speculation. With bitcoin ramping up to 30k (now  nearly 40k) and creating a new wave of what I would argue most people can now think of as financial savers (once speculators) we have to consider what impact this has on the economy and the environment. The impact of bitcoin goes parabolic as its price rises? Short term speculators turn to long term hodlers.

If the price goes vertical enough for long enough we all know that it's distracting, at some stage this distraction impacts on the world economy. at the moment a small proportion of society is laser focused on bitcoin less than a few percent, but imagine the bitcoin price starts taking out trillions by the day, some one says quintillion and at this moment almost everyone realises that working for anything other than love, is kind of pointless. You just got to stop and get some bits. The economy grinds to a halt and everyone just sells whatever or does whatever they can for bitcoin. I call this The Great Save, and it probably starts much earlier than described above, at a point where the number of people saving bitcoin adds to a percentage of the economy that exceeds that of the normal fiat savings rate.

During the Great Save not only do people start saving instead of consuming, but the environment gets a great boost. Unnecessary activities are drastically reduced. We saw this with covid19 as people focus only on what is needed. Birds and bees return to the streets and global warming could be halted.

With a mass buildup of bitcoin savings people stop unproductive jobs and unemployment is reduced somewhat as the obvious method of getting ahead are glaringly obvious, either stack or mine. Computer chip prices and bitcoin mining machine prices will skyrocket in fiat. As the Big Save Progresses the bitcoin hash rate will plateau as the opportunity cost of buying miners instead of bitcoin become too high. Energy costs which first went down in fiat due to recession will start to rise and utility companies will start accepting bitcoin for payment. Coal power plants will only survive as long as Governments subsidise them as mining migrates easily to the cheapest power and those companies are more easily able to accept bitcoin from their bitcoin mining clientele. People will only want to work jobs if 1. They are paid in bitcoin, 2 if they have to, 3. if there are real and direct benefits in the long term as they see it to the world.

I think many will agree this kind of process is needed in the current economy and will have lasting benefits for everyone. At the same time many of us will be concerned here for the impacts of what for many people will look like a stagnant economy. however it seems that the first stages of The Great Save are here and it's not clear from what we see that it must hurt the average person. Governments currently sending fiat directly to people in need and may increase this in The Great Save environment. most problem happen when fiat is distributed to companies or diverted to the top one percent (the cantilionairs). People end up spending only what they must in fiat at the dwindling government supported businesses accepting it. The rest of the printed fiat would be saved as bitcoin (we see this with micro strategy). The more people saved the more free they would become. Free from roles where they would need to work for fiat. given a vertical rise in price it only takes a tiny fraction of bitcoin, just some savings, for the average person to escape the fiat trap. This considering that bitcoin is an equal opportunity financial instrument for everyone with a smart phone and internet. Large institutions receiving fiat are actually disadvantaged because they are more likely to be tracked and restricted from  bitcoin purchases.  The average person can make a quick decision to get in and quickly discovers the benefit of saving this way.

Over time the economy reconfigures to jobs that people and more specifically bitcoiners find valuable. This will be a much more long term perspective to value. People will not drop their savings without good and enduring reason. I don't know if it will be this wave or later, but I think it's clear now that its coming. The Great Save is the end of consumer culture.

The Failed Flippening

http://www.flippening.watch/

Ethereum has managed to overtake bitcoin only in the number of transactions. This is causing scaling issues and they have decided to reprogramed the system and start again. It will be a break in their blockchain. 

The transaction number for bitcoin excludes transactions on the bitcoin lightning network which can scale to near infinite levels. It's an epic fail for Ethereum as far as I can see.