Bitcoin in US Dollars falls below $18,000, buy the dip? or is it time to sell? How valuable Is Bitcoin during a Deflationary economy? – November 9, 2022,

If there’s one thing I wish the blockchain would address is democracy because technology hasn’t helped the political democratic process. I’m hearing we’ll have to wait two weeks to get the full picture of the Mid-terms, and so far, what I’ve seen does not look like this Red Wave I was hearing about; what I see is a Far Left Democrat Party that still manages to stay relevant and what that signals for me, is a technocracy in the making.

One of the major flaws with a technocracy, is who is in charge, as most technocrats base their decisions purely on the NUMBERS, ignoring the human element; most technocrats are against capitalism and are actively trying to socially engineer humans to behave in a manner conducive to their technocratic agenda. Personally, I don’t see how Bitcoin addresses technocracy; the mere fact that these Binance and FTX entities have emerged from a medium of exchange that seeks to be DECENTRALIZED concerns me.

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The benefit of fiat money is the ability to use fiat money to purchase HARD assets, the concept of Bitcoin, I assumed, was to hoard it the way you’d hoard Gold and Silver. So in the event of an emergency, you could trade it. Instead, Bitcoin hasn’t become a measure of wealth. Instead, it’s become this giant speculation in which everyone appears to be levered up.

The goal no longer appears to be efficiency; instead, it appears to be a get rich quickly scheme, which works during a booming market but can become extremely problematic during an economic downturn. The economy is deflating; the polls suggest that the Republican Political Party in the United States is better with the economy than the Democrats, but so far, I don’t think U.S voters care about that, as the mid-terms appear to be a victory for the Far Left Democrats.

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Why this should matter if you’re hoarding Bitcoin is that the economy is likely to get worse, which could shrink the pool of buyers for Bitcoin and other cryptocurrencies. The only news I hear about Bitcoin lately is when something bad happens; in the past, you’d hear about Bitcoin because the price kept going up.

The war on Fossil Fuels is putting central banks all over the world in a tight position to raise interest rates, and I like to remind the reader that most of the money printing actually comes from the private sector via the private banks, so if interest rates are rising, the Federal governments of the world are growing, and the private sector is shrinking, where do cryptocurrencies come into play?

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I’d be big a big investor in crypto if, let’s say, it was concentrating its attention on energy creation in poorer regions of the world because if Bitcoin were to do that, I could argue it was realistically preparing for the fall of the modern monetary system, but I’ve been unimpressed with its development of late, all I’m seeing is more speculation entering that sector, which is the real reason FTX needed a bailout.

You can spare me all of the technical talks regarding FTX; it’s overleveraged; it attempted to get creative, and the market saw through the B.S. With a gold standard, it was very hard to sell savvy investors on a pipe dream, however those that didn’t understand Gold was merely a medium of exchange did become of victims of Bragadino economics.

So people who were NOT paying attention to what was happening at FTX had their money frozen, which for someone like me is so silly; I keep telling people if you’re involved with cryptocurrency, buy a Crypto hardware wallet. When I was thinking about Crypto, I was imaging holding gold bars in a TINY encrypted wallet, that was the appeal to me, what I ignored are the other people who flippers, buying with the attention to make a fast buck in the future.

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Now, if the crypto industry were smart, to keep these customers, crypto should be doing what the U.S dollar has already done, which is to build GLOBAL infrastructure to the point that people start looking at crypto as money instead of merely a speculative bet. I must say that I’m still hopeful for a better future in crypto, I point out that my end game is not to have crypto in its current form as the ONLY form of barter; however, I do want it as a reliable form of exchange, so seeing what’s happening now, I’m hoping is only temporary.

Is Bitcoin below $18,000 a good buying opportunity? I’d say potentially, but I’m watching the U.S mid-term elections because, for me, Fossil Fuels are on the ballot and if Americans are serous about phasing out fossil fuels, I think in about five years, the United States is going to decline RAPIDLY, as I’ve stated in other posts, it wouldn’t surprise me if the Federal Reserve outlived the United States, because in order for the U.S dollar to be dethroned, either the U.S government has to destroy it, or the market has to find something more stable.

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While the DOMESTIC massacre of th U.S dollar is underway, it still might maintain its purchasing power outside of the U.S, which I imagine will confuse the US voting public; I’ve already heard that idiot Donald Trump during one of his speeches saying the U.S dollar needs to come down, he clearly doesn’t understand that if he becomes president and debates the U.S dollar inflation is going to WORSEN.

Higher consumer prices, as I like to point out, undermine price controls, and this is one of the reasons now is not a good time to give up hope on Bitcoin, but if you’re a trader looking ot make a quick profit, I will wait until the end of the U.S mid-terms before SELLING. When it comes to buying, buy whenever you’re comfortable with the price. As a buyer you don’t want to time the market. If I’m buying a security system, I’m comfortable paying an inflated price.

Crypto Collapse: Why Bitcoin And Ethereum Are Crashing | benzinga.com

Interesting times ahead!