IMF or International Monetary Fund amplifies calls for countries to boycott cryptocurrencies. They said crypto is risky and potentially exposes the risk of financial instability. Let’s exam their claims.
From IMF’s aspect, financial instability means people will abundant fiat currency standards and use cryptocurrencies instead. It will create an uncontrollable environment for IMF to implement their monetary policies and stabilize the economy. The question is do we really need some large organization to control assets over everyone and make decisions for everyone. If such an organization is fair and square. The problem is large organization tends to work in their favor and they cannot represent everyone. Then the financial stability for them is stable but not for everyone.
Crypto Is Risky
Risky refers to opportunity. Unrisky asset tends to be stable and provides no opportunity for investors to gain because they are largest managed by a few people who already gained their advantages. Why risky is bad just because it fluctuates at a wider range? Rather if such an asset can continue performing upward, large fluctuations are just not as important after all. Such an example like Bitcoin which fluctuates at 90% of its range but gain multiple times of value after a decade. Compares to the fiat dollar which is stable for many years but the purchasing power quietly reduces to 94%. Of course one will prefer large fluctuations of Bitcoin to stable fiat simply because Bitcoin is more valuable but the fiat dollar continues devaluing.
Check out my another article: A Proposal To Move Bitcoin Mining PoW Away
Global Scale Regulations
IMF wants global-level regulations without even considering the privacy of each citizen. Global level regulations are global surveillance programs to monitor each individual. Global level regulations will have a global organization above each country to control each transaction. Such an organization can be ever-powerful to easily crash individuals if they are opposed to their view of the future. No one will want such organizations to have existed and monitor each other.
Destabilizing Capital Flows
Capital will flow away from the fiat system into the cryptocurrency system. That is not what IMF wants. They want a closed loop of money circulation such that they can control over. However, the financial system has been broken for a long time without solutions. Cryptocurrencies step up to fix the problem even it is temporary. People likely spent more on cryptocurrencies than fiat currencies in the coming years.
The louder the IMF cries, the faster the crypto adoption will be. It is just the way institutions are losing trust and people are gaining their own choice to make whatever they believe to become the future they want to.
Ethereum Drifts Sideways And Struggles Below $1,300
Ethereum (ETH) price has continued to bounce between the moving average lines. The uptrend has been blocked by the high at $1,300.
Ethereum price long term analysis: bearish
The price of the cryptocurrency has already tested this level three times, but has not yet been able to break through it. The price of Ether is moving sideways below the barrier. The largest altcoin is trading in the overbought zone of the market
The overbought condition of Ether has made it difficult for the price to move higher. However, in a strongly trending market, the upward movement will resume. If the bulls can break through resistance, Ether will rally above the 50-day simple moving average (SMA). However, as long as the moving average lines are intact, Ether will move within a certain range.
Ethereum indicator analysis
In the 14th period, Ethereum has risen to the value of 42 in the Relative Strength Index. Ether is in a bearish trend zone and could fall further. The price bars on the daily chart are between the moving average lines, indicating a likely range-bound move for the cryptocurrency. The largest altcoin has reached the overbought zone of the market. It is above the stochastic value of 80 on the daily chart.
Key resistance levels – $2,000 and $2,500
Key support levels – $1,500 and $1,000
What is the next direction for Ethereum?
Currently, Ethereum is drifting sideways between the moving average lines. Ether has been trapped in a range since November 30. It is predicted that the trend will continue for a few more days. The altcoin will move when the moving average lines are broken.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their research before investing in funds.
This Western PubG Game Mode Is So ADDICTING! – CryptoStache
This Western PubG Game Mode Is So ADDICTING!
I jump into disguise and head out on a mission to play GRIT!
Join Secret Agent ‘Stache for TOP SECRET THURSDAYS with guests from the team and Agent Riz holding it down at Crypto Intelligence Agency (CIA) headquarters.
In GRIT’s Wild West, the fastest draw isn’t always enough to make sure you’re the one riding off into the sunset. Meet other players on the dusty plains or at high noon on the streets of a frontier boomtown. Run and gun, or hijack the last train out of town – but remember, sometimes there’s no running from the coming calamity.
MORE INFO: https://cryptostache.com/GRIT
00;00;53 SAS Membership
00;01;25 Disguise Change
00;02;03 Dance Party
JOIN MY CHANNEL FOR AGENT-ONLY PERKS:
TALK WITH ME IN DISCORD: https://discord.gg/dyQbnKK
FOLLOW ME ON SOCIAL:
#galagames #nftgame #pubg
top blockchain games 2023
top blockchain games 2022
best blockchain games 2022
top crypto games 2023
best blockchain games 2023
best crypto games 2023
top nft games 2023
top play to earn games 2023
best play to earn games 2023
Warren Buffett Explains His Hate for Bitcoin
Bitcoin has had its worst year to date, and Warren Buffett – the billionaire investor and CEO behind real estate giant Berkshire Hathaway – is laughing in all our faces right about now.
Warren Buffett Really Hates Bitcoin
Buffett has never supported bitcoin. In fact, he’s said some rather negative things about it. Discussing crypto assets in 2018, he said:
They will come to a very bad ending.
He also made it clear that he had no intention of owning any form of crypto, stating in early 2022:
If you… owned all of the bitcoin in the world and you offered it to me for $25, I wouldn’t take it.
In the long run, Buffett doesn’t see much value to BTC and claims it’s not a productive asset. In the year 2020, he stated that cryptocurrencies do not have any real value in that they don’t lead to any serious returns. He mentioned:
They don’t reproduce, they can’t mail you a check, they can’t do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person’s got the problem.
He also said he doesn’t see crypto as money given many companies are not accepting it as a method of payment. Buffett added to his 2020 words with:
I don’t have any bitcoin. I don’t own any cryptocurrency. I never will.
The idea of bitcoin not serving as money first came from him in 2014. In an interview, he stated:
It does not meet the test of a currency. It is not a durable means of exchange. It’s not a store of value. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money?
While it may be safe to assume Buffett knows a lot about money and investing, it would be wrong to think he knows everything, and perhaps bitcoin is simply an asset he’s not understanding. This has been suggested by analysts in the past, though to be fair, Buffett has largely been successful because he has stuck to investing in things he knows and comprehends. He mentioned:
I get in enough trouble with things I think I know something about. Why in the world should I take a long or short position in something I don’t know anything about?
A Long List of Insults
He says that one of the reasons investors get into trouble most of the time is because they like to gamble and take too many unnecessary risks. He commented:
If you don’t understand it, you get much more excited than if you understand it. You can have anything you want to imagine if you just look at something and say, ‘That’s magic.’
- Crypto News1 year ago
Kryll (KRL), LCX (LCX) SUKU (SUKU) and OriginTrail (TRAC) are launching on Coinbase Pro
- Blockchain1 year ago
DeSo Announces $50 Million In Funding for Developers
- Blockchain1 year ago
DeSo | Decentralized Social Media Network
- Bitcoin12 months ago
Simple Analogy Explains How Bitcoin Works
- Crypto News1 year ago
Unpacking The DESOlaters with William Laurent
- Blockchain12 months ago
DeSo : Decentralizing Social Media Apps
- Crypto News12 months ago
Multichain Metazens Emerged In The Metaverse
- Blockchain1 year ago
How to Get Free DeSo Crypto