Beside the loss of Kazakh capacity for bitcoin “mining”* … is the loss of Iceland, to whit all new electric contracts for crypto-hash outfits have been denied. Iceland! Who knew? Link: https://www.youtube.com/watch?v=Kae1ZUwLgLA
The intersection of that loss to BTC’s and other’s hashrate may explain current crypto FUD beside Fed-Treasury reducing ESF sterilization of inflationary capital into crypto; and of course the chart: Link: https://goldprice.org/cryptocurrency-price/bitcoin-price But what other quasi-ponzi crypto “secrets” may be lurking out there, yet to be revealed?
The monetary system is not truly free market and has been managed/controlled largely by US centers of monetary power and allied Central Banks; one notable exception being a near-collapse of the system in 2008-2009. Subsequent to that, the mysterious Satoshi Nakamoto introduced the blockchain distributed ledger system via (his, her, or their) whitepaper. Later, monetary powers-that-be eventually discovered crypto to be an opaque and largely unaccountable method for stashing inflationary fiat. (NB: blockchain “decentralized” and “open ledger” discussion will not be addressed here. Also note that BTC is a derivative of the dollar.. not a function of the dollar’s use case per se.)
To illustrate, the Fed-Treasury via the ESF participate in crypto via Fed dealers (the Fed itself via BlackRock: Link: https://wallstreetonparade.com/2021/10/the-fed-is-subsidizing-the-money-market-funds-operated-by-larry-finks-blackrock-funds-as-blackrock-manages-a-big-part-of-jerome-powells-wealth/ ) who bankroll Vanguard, BlackRock, State Street etc ie the largest financials on earth, to assist in sterilizing inflationary capital when necessary via bitcoin “investments”.
How does that work? As explained here: Link: https://novusconfidential.wordpress.com/2022/01/13/bitcoin-vanguards-great-fintech-reset/ MSTR, GBTC, ARKK, BTC ETF’s etc etc provide convenient Wall Street vehicles for potential 4th use capital (and below) via bitcoin. To examine that, consider the Fed-Treasury targeted use cases for Fed-created FRN USD (dollars US) by usage:
1. US Treasury
2. Federal Reserve banks
3. Federal Reserve “Desk”
4. Primary Dealer Banks
5. Commercial investment banks (including certain hedge funds)
6. Non-dealer retail banks/credit unions
7. Other financial entities
Uses 1-3 are essential to maintenance of much the west’s financial system. [NB: The above dollar usage order is most important to understand, before any real grasp of how the western monetary system operates may be attained.] But usage 4 — and beyond — represent far less control by the US Central Bank/Treasury. For #4, Fed primary dealers, are (supposedly) strictly controlled by repo’s, reverse repo’s, T-bills, MBS , TIPS and Wall Street “investments” etc via these gatekeepers: Vanguard, BlackRock, State Street etc. The goal of course is to prevent dollars from trickling down to lower tier $ use cases. (NB: An anomaly to the above was when the government mailed out checks to most all US citizens!)
Via Vanguard, BlackRock, State Street and more — ie the largest funds in existence — the Fed-Treasury-ESF and central banks may manage the system more effectively, and attempt to limit inflationary trends where a black hole is needed for inflationary dollars. A most convenient route to that black hole being, for example: MSTR, GBTC, ARKK, BTC ETF etc via Vanguard etc, as written about in the Novus link above. Also, the United States federal government at times participates directly in laundering dollars (usually for political reasons) via the ESF into bitcoin, https://strategika51.org/2021/09/05/cias-bitcoin-heist/ in this case Afghanistan’s CB reserves, where no accounting is expected, and where no Congressional or prying eyes can see it.
Now, with the Fed-Treasury attempting to dial-back inflation to some degree, the question is – how is that dial back in fiat USD-creation affecting crypto today? By some unforeseen circumstance — and others still a mystery — it appears that a fundamental change has occurred with regard to Vanguard, BlackRock, State Street etc and their intersection with the Fed-ESF, regarding how inflationary dealer fiat will either be opaquely stashed, washed, or eliminated, by the means of MSTR, GBTC, ARKK, BTC ETF etc, ie bitcoin Wall Street and ETF markets. Then again, it could just be that moms, pops, and their kids are slowly beginning to realize that BTC may not be the F U money that they thought it would be…!
There is an important further question, as in the article $180 Billion Just Got Lost Link: https://theduran.com/180-billion-just-got-lost/ : How are the monetary powers-that-be (Vanguard, BlackRock, Fed etc) exterminating cash rotated out of BTC and other crypto “assets” since the end of November, 2021? (NB: US dollars are not truly “created out of thin air”. It is a fact that behind every US dollar created, a debt instrument of some sort exists, somewhere For the creation of that dollar. ‘Somewhere’ is of course the key.) The conclusion being that when Vanguard, BlackRock, State Street and others rotate out of ARKK, GBTC, MSTR etc, those funds revert back to the Dealers and to short term debt that the Fed simply vaporizes by tapering and (perhaps) by eventual quantitative tightening.
So, where can we publicly see evidence of this extermination of Wall Street capital? We can’t fully, but have clues from the Federal Reserve itself, via at least one chart it still updates. (Hopefully honestly, but there is nothing honest about the Fed and its operations — except where the Fed’s friends are concerned.) Here is the chart, at interest is the most recent activity (at right) from December 21st until now :
Now, a correlation to the performance of bitcoin and this action by the Fed (right side of chart) is only an indicator as to how the Fed is extinguishing capital by ceasing to flood the market with cash, while not impacting the bottom line Vanguard and the Fed’s other slush funds need, to see much more than a “light correction” to Wall Street share market prices. This is how the Fed is managing the reduction in froth.
There is a further point however, that the crypto industry is into something much deeper. Crypto is supposed to “screw the man”, exercise freedom, and express valid antiwar ideals… but only when BTC F U money allows us to walk away from working for a living?? wtf? The hard fact is, that Satoshi + the entire FinTech industry is a minefield of interactive connections to a world of Wall Street and Central Bank finance that most punters and bitcoin speculators have no idea even exists. Even the central government does not call bitcoin a “currency”, and for good reason: because it is not.**
That too gives rise to the fact that bitcoin “mining” (it’s not mining) consumes an enormous amount of electricity, and the cheap sources of electricity have not scaled well. Iceland, Kazakhstan, and formerly China. And now we look to — Texas? — for cheap electricity … really? And our new world of BTC and ETH profits?
The argument regarding bitcoin scalability only by the availability of cheap “mining electricity” surely augments all other arguments versus a cashless virtual world based on F U money, bullshit, and central government control, which is truly what crypto is all about.. Link: https://www.bitchute.com/video/KliMNIAmAgHR/
*Not really mining; sha256 hashing.
**And for reasons that will eventually become apparent, bitcoin is not even a true asset.