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News of the day. by edicted

View this thread on: hive.blogpeakd.comecency.com
· @edicted ·
$34.01
News of the day.
<center>![fire ice bitcoin.jpg](https://images.hive.blog/DQmcf8SKedWmhRHavZouUtdNwJgZE76E4y5PYhytvehoPzt/fire%20ice%20bitcoin.jpg)</center>

I have never seen so many posts about the same topic.  
Must have been at least 20 mentions in my feed.  


[MicroStrategy Inc. is borrowing $400 million to buy more Bitcoin while also writing down the value of its existing holdings. It’s the first-ever junk bond sale used for financing purchases of the volatile cryptocurrency.](https://www.bloomberg.com/news/articles/2021-06-07/microstrategy-to-sell-400-million-in-debt-to-buy-more-bitcoin)

You know what's more interesting than this actual news?  How much the thirsty goblins in the cryptoverse have latched on to it. Please make number go up, Michael Saylor!

<center>![image.png](https://images.hive.blog/DQmWh6zoAYmtmj5LMoQDQgu5mQ9Bpn8ZA9NFEwUU63wHeaw/image.png)</center>

### Savoir Saylor
Even funnier, all these articles are talking about how much money Microstrategy has lost because of the Bitcoin crash.  Spoiler alert: Microstrategy hasn't lost any money.  They are up a ton.  Has everyone already forgotten that Michael Saylor is basically going to go down in history as the spearhead to institutional adoption?  Yeah, the person who frontruns the market doesn't lose money... they make a shitload of money... duh. 

> [As a result, MicroStrategy now holds about 91,579 bitcoin at a total purchase price of $2.23 billion, at an average price of $24,311 per coin.](https://www.google.com/search?q=how+many+times+has+microstrategy+invested+in+bitcoin&oq=how+many+times+has+microstra&aqs=chrome.1.69i57j33i22i29i30l4.7444j0j4&sourceid=chrome&ie=UTF-8)

And now after a 50% plus dip MSTR goes long again and loads up on debt to buy more... and everyone talks shit about what a risky play it is.  Ha!  Memory of a goldfish I tell you!  Will they still be talking trash when Saylor is the richest person in the world I wonder?  Probably. 

----

<center>![t2.png](https://images.hive.blog/DQmSswaakF81qHiWQgbm55w2ZNtYXqAKxNzqgrRbFnhZu8Y/t2.png)</center>

In other news, Trump tries to stay relevant by denouncing Bitcoin as a scam and praising the almighty dollar.  No surprises there.  This isn't anything new.  He doesn't know anything about Bitcoin, just playin that politics game.  This is showcased by the quote that it needs to be "very high regulated".  Hm, yeah, it can't be regulated.  That's the entire point.  Only the banks can be regulated. 

##### And that's what Coinbase, Bittrex, and Kraken are: Banks.
Hilarious how they can't even regulate the banks like Binance and Huobi.  Really goes to show you how crazy this is all getting.  Shadow banking has never been easier thanks to Bitcoin. 

 <center>![t2.png](https://images.hive.blog/DQmVdxSi48ZwPkyzxxoTvfK8ZgYzQy2GRHT4Mae4Dr87z2Z/t2.png)</center>
<sub><center>Speaking of regulations... we are getting less, not more.</center> </sub>

### And on to the Grand Finale! 


Well lookie lookie what Google has to say about "el salvador".  Bitcoin is soon to become a foreign currency and crypto twitter is still concerned that number won't go up. Once Bitcoin is deemed a currency it can no longer be taxed for capital gains.  I had no idea that it would only take one country to accomplish this.  Pretty crazy stuff. 

The dominoes will continue to fall on this front.  It doesn't matter if other countries don't recognize Bitcoin as a foreign currency at first.  More and more countries are going to follow in the footsteps of El Salvador and make this an unavoidable reality.  If I'm being honest: this is happening much sooner than expected. 

This creates a huge incentive for crypto innovation and users to flock to the countries that rightfully classify it as legitimate currency. Every country that finds itself under the thumb of imperialism can now follow El Salvador's lead and hit the ground running as this new cooperative economy is forged. 

-----

I always wondered why crypto was legally considered "property" in the states.  It makes no sense because you can [wash trade crypto and take the losses on your taxes.](https://peakd.com/hive-167922/@edicted/how-to-pay-zero-crypto-taxes-this-year)  Looks like I have the answer.  Even though property doesn't make sense they sure as hell don't want to give it currency status where there are no taxes.  Funny how they immediately had to admit that Bitcoin wasn't a security.  I suppose "commodity" is still on the table, but I don't know the law surrounding that either. 

We are rapidly approaching an era where crypto will start being accepted by vendors and actually used as currency.  Once that happens it will pretty much be impossible to deny that this asset class is indeed currency and not some product they can siphon taxes from. Again, this is all happening so fast and all anyone can seem to ask is "when number go up!?"  This is why we can't have nice things, children.  Good things come to those who wait. 

 <center>![childrenstable.jpg](https://images.hive.blog/DQmZygRvLar1QytSMhMWcXbttQZ5n1aSnG1gFRU37SiHbwj/childrens-table.jpg)</center>

##### Are we there yet? Are we there yet? Are we there yet?
Target is still Q4 2021. 
Has been for 3 years. 
Get over it. 
 

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vote details (672)
@acesontop ·
Trump would have been relevant if he'd pardoned Julain Assange. He kept on intentionally overlooking that. We just have to admit it, he was a puppet pretty similar to what Biden is...

There's a lot happening for crypto lately, and quite a few relevant good news, the price seems to be waiting for Q4 to react... :))

Hopefully we will have mass adoption for crypto as payments in a few years from now as well. It would make much more sense than it currently is. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@acesontop/re-edicted-1zblk)
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@automaton ·
When the time comes they will all embrace crypto. Remember this pattern: They call Bitcoin a fraud or Ponzi. Then the next week they are issuing their own NFT’s singing the praises of the blockchain. Crypto has taken over… 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@automaton/re-acesontop-3xayp3)
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@adetorrent ·
$0.01
I, like everyone, am just going to ignore the grammatical error in ***"very high regulated"*** πŸ˜‚
πŸ‘  
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vote details (1)
@edicted · (edited)
![yup-lana.png](https://files.peakd.com/file/peakd-hive/edicted/23zbYCr9ZGqVDTTvLEBQiutVtUr1jpvJxgydJ5dgvxsAoFFLc7WbCgskwnHRo78vSVyRJ.png)

adverbs are for suckers
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@amphlux ·
Lol Trump said BTC is a scam. This should throw my boomer dad's head into a tailspin. Boy he loves Trump, lets see if he loves his crypto more.
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@aussieninja ·
$0.07
I have no idea if El Salvador will actually be able to pull it off or not (obviously lots of steps before it becomes actual law) but it's obviously genius.  With one move they've declared to the world that they want some of the best innovators in the world to move to their country. Sure, they'll also have to cope with a ton of crypto bros, but I'm very sure it'll be worth it.  The value this could bring to the country could be huge - with Starlink they don't even really need to have a lot of infrastructure ready. I hope their work visas department is ready...

BTC is obviously terrible tech for actually transacting in El Salvador, but it's still such a genius move. I really hope it works out for them.
πŸ‘  ,
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vote details (2)
@apshamilton ·
$0.04
He has a massive majority in Congress and this will become law quickly. Most transactions will be on the Lightening network not BTC directly. That’s what the Strike app does. 

It was Strike’s CEO who drafted the bill and it was his presentation at Miami crypto conference where this was announced. 
πŸ‘  
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@aussieninja ·
Thanks @apshamilton - I didn't know this level of detail... definitely sounds encouraging.
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@edicted ·
$0.07
When we look at the actual ramifications of their actions it seems like it's almost impossible that this will become a reality in the short term.  But to me that doesn't matter: because simply the threat of this happening is enough. 

A lot of money and power are going to be allocated by multiple dominating countries to make sure this doesn't happen in the short-term. It will happen sooner or later no matter what though.  Cat is out of the bag. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@edicted/re-aussieninja-5vg3vz)
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vote details (2)
@galberto ·
$0.06
In truth, perhaps in the short term, perhaps not, but in the medium term if it will be a reality, for this reason, there are already pilot tests implemented in the beaches of El Tunco and El Zonte, there are already two BTC ATMs operating in those places, so people It is already sensitized, they have already learned to use the strike lighting network or whatever it is written, but I think that once the law is authorized, the implementation will be quite fast and today with the authorities that are advancing by leaps and bounds I think that by the end of the year we will already be with a good part of the population sensitized.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@galberto/re-edicted-44bwbm)
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vote details (2)
@galberto ·
$0.04
On the beach el tunco and zonte there has already been a project for several days, in which the strike lighting network is being used through a project called bitcoinbeach, you can locate it in google play, through which you can buy up to tortillas, a soda, a snack, a plate of food paid for with satoshis, so I think we already have a great advance in that sense, the community is already sensitized, even older adults, 81-year-olds, are using btc as a means of payment as well I think it is only a matter of waiting for the law and implementing it in a massive way and everyone up, time will tell us if we can or if there will be difficulties, it will be a great challenge but for now we are already quite advanced.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@galberto/re-aussieninja-29apqp)
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vote details (2)
@automaton ·
Children who listen get nice things. Bitcoin may end up as the de facto reserve currency of the world. These moves may end up occurring regardless of US monetary policy. I suggest all people to plan accordingly since right now there is no accountability in the legacy system. Not your keys not your coins :) 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@automaton/re-edicted-3sopex)
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@bagofincome ·
I'm calm here with you. Q4 it is. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@bagofincome/re-edicted-4la9oy)
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@beerlover ·
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@belemo.leo ·
Man I've missed out on a lot of shit due to my wedding activities but it's glad to be back. Will be checking out this Elalvador bit and maybe even consider relocating there if possible. 
Nigeria is deeper into shit as Twitter has been banned around here and still no word about crypto situation being respolved

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@belemo.leo/re-edicted-3nuaeh)
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@cryptogee ·
Nice article man :-). Although I'm sure you can still get charged for Capital Gains for money made in forex trading?

Maybe I'm wrong, or perhaps it depends on your country of residence. I'm in the UK.

*Cg*
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@curation-man ·
Great to hear good news like that
It is like seeing green color on the market



---

<center><sub>Posted via [proofofbrain.io](https://www.proofofbrain.io/@curation-man/qucg59)</sub></center>
πŸ‘  
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vote details (1)
@dagger212 ·
This is the final push downward, in my opinion, before the markets start climbing the proverbial "wall of worry".  The FUDsters have hammered this about as blatantly as they can possibly get away with and they are just about there as far as turning the masses bearish.  Once this final "scare" is out of the way, the next big leg up begins.  I've got my autobuys stacking sats on a regular basis.  I may have to put in a couple of bigger buys way down below the market.  The wicks may just give me a truly great entry....

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@dagger212/re-edicted-4szvm)
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@drutter ·
Scrambling to figure out what label to slap on the several thousand various cryptocurrencies to try and control them? HAHAHA
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@empress-eremmy ·
$0.02
> Once Bitcoin is deemed a currency it can no longer be taxed for capital gains.

Had no idea about this either. As I said yesterday, I expect a few more [smaller] countries to follow suite over the next 2 years. For a major shift to occur though, we would need a strong, developed nation to join the ranks. That will be a game changer



---

<center><sub>Posted via [proofofbrain.io](https://www.proofofbrain.io/@empress-eremmy/quci6b)</sub></center>
πŸ‘  
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vote details (1)
@fabian98 ·
What trump said further reveals how weak and fallen the power of the dollar is, and what Saylor and the savior did is a clear indication of the superiority of cryptocurrencies over fiat money.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@fabian98/re-edicted-5sswka)
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@farm-mom ·
$0.09
All we have to do is stay calm, ride the waves, ignore the trumps of the world and get ready for a really fun ride to the moon. It will happen!!
Great post!
πŸ‘  ,
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vote details (2)
@galberto ·
here we go, of course man, if thank God we are already here to advance by leaps and bounds. and the good thing is that hive has given us a lot of knowledge to be able to implement it.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@galberto/re-farm-mom-gfmle)
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@galberto ·
$0.04
So what my country El Salvador Is in the news hot we implement BTC as a money legal currency, we do not know today how it will work.
The time say, fortunately we have a knowhow about crypto thanks to give.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@galberto/re-edicted-6byuum)
πŸ‘  ,
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vote details (2)
@urun ·
$0.05
I think hive would be better because of the stable coin. Also, free transactions would be needed. But I like the attention crypto becomes :)
πŸ‘  ,
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vote details (2)
@edicted ·
$0.03
If even a million people started using Hive RCs would be worth a lot and transactions would no longer be free.  Of course people like you and I would suddenly have a yield farm that went from $0 value to market value, so no one with Hivepower is going to complain. 
πŸ‘  ,
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vote details (2)
@galberto ·
ohhhhh I would not think it was hive the elect but it can not be, everyone has used btc but there is the strike lightning network that is supporting all the existing infrastructure that has served as a pilot test to do that from children to the elderly can use BTC as a means of payment.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@galberto/re-urun-325drx)
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@glory19 ·
All those who are patient will come write with crypto
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@hivebuzz ·
Congratulations @edicted! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://images.hive.blog/60x70/http://hivebuzz.me/@edicted/upvoted.png?202106080232"></td><td>You received more than 220000 upvotes.<br>Your next target is to reach 230000 upvotes.</td></tr>
</table>

<sub>_You can view your badges on [your board](https://hivebuzz.me/@edicted) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>



**Check out the last post from @hivebuzz:**
<table><tr><td><a href="/hivebuzz/@hivebuzz/pud-202106-feedback"><img src="https://images.hive.blog/64x128/https://i.imgur.com/zHjYI1k.jpg"></a></td><td><a href="/hivebuzz/@hivebuzz/pud-202106-feedback">Feedback from the June 1st Hive Power Up Day</a></td></tr></table>

###### Support the HiveBuzz project. [Vote](https://hivesigner.com/sign/update_proposal_votes?proposal_ids=%5B%22109%22%5D&approve=true) for [our proposal](https://peakd.com/me/proposals/147)!
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@jersteemit ·
People condemn what they know nothing about, wouldn't blame Trump.

Bold move from El Salvador. Truly a great one. Looking forward to see how it affects the market and hoping other countries follow suit on this.

And thanks for keep us in the know with this news



---

<center><sub>Posted via [proofofbrain.io](https://www.proofofbrain.io/@jersteemit/qucszg)</sub></center>
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@jfang003 ·
Well I think there was another African country following El Salvadour's lead. Obviously we still have to wait for things to pass through their Congress before it does work out.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-edicted-5j8cpa)
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@josediccus ·
$0.04
I think what El-Savador has done is setting a pace, it'll eventually become inevitable, its only time. Once more politicians will discredit anything provided it helps their political ambitions and not just because they're totally ignorant 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@josediccus/re-edicted-213rwn)
πŸ‘  ,
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vote details (2)
@galberto ·
Yes, the politicians are complicated, but here we are at an interesting juncture so I think this will give us a great boost as a community and as a good country we are already in the arena, before we were the bad guys, today we are going to the forefront.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@galberto/re-josediccus-4fuktk)
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@julianhorack ·
Yes I agree with the end of year take profit period. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@julianhorack/re-edicted-4xn3sp)
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@kerrislravenhill ·
Shows that the big institutions are gaming the crypto markets and scooping up coin from weaker hands.
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@lnakuma ·
$0.09
I am wondering what El Salvador's government motive is. 

Politicians always have some interests that normal people don't know. So is business man like Elon Musk before he bumped BTC and/or DOGE at the beginning. There is always something behind the scene...

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@lnakuma/re-edicted-7squia)
πŸ‘  , ,
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vote details (3)
@edicted ·
The motive could be extremely transparent.  El Salvador doesn't have their own fiat currency because of some past revolution or some such thing.  They all use USD.  Now that USD is being printed out by the trillions they need to hedge against that. 

Bitcoin is a new revolution of money.  There's a huge financial incentive to be the first country to legalize it as a currency. Doesn't need to be much more motive than that: they're going to make a boatload of money.  Of course there probably is more to it than that but there is already enough out there on the table to justify the move. 
πŸ‘  ,
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vote details (2)
@apshamilton ·
$0.07
I've done a further deep dive into this topic https://peakd.com/elsalvador/@apshamilton/el-salvador-and-btc-deep-dive-on-momentous-impacts
πŸ‘  
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vote details (1)
@lnakuma ·
Just read a comment from another post.  https://leofinance.io/@apshamilton/re-cryptowendyo-qudet7

Something I was not aware of at all.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@lnakuma/re-edicted-2c17vv)
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@maikuraki ·
πŸƒβ€β™‚οΈ Join Shiba Inu Airdrop:
http://t.me/ShibaInuOfficialRobot?start=549340743
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@onealfa.leo ·
$0.10
# πŸ’₯BoomπŸ’₯
and
# πŸ’₯BoomπŸ’₯

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@onealfa.leo/re-edicted-3hf1np)
πŸ‘  , ,
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vote details (3)
@pinkeye ·
$0.02
Any country that has rejected the USD as a whole has paid dearly in war. I would not be surprised if the usa starts bombing el salvador or creating a bunch of false flag attacks and fake terrorists or mafia creations as a counter approach. 

We canbjust look at the history of what happened to Afghanistan, Iran, Iraq, etc



---

<center><sub>Posted via [proofofbrain.io](https://www.proofofbrain.io/@pinkeye/qucuzy)</sub></center>
πŸ‘  
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vote details (1)
@pouchon ·
$0.02
At least we are all informed and do not know
what to say, just spit it out.
It is the same way when the whole community is talking
about Hive is this and that. Off course it is. Wash, rinse, repeat.
I like your parallelism way of putting stuffs out there.
It is about time we focus on value and not much price, price.
Now that is another one.
Mouth needs to feed.

!BEER

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@pouchon/re-edicted-3tzcrg)
πŸ‘  
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vote details (1)
@qsyal ·
$0.05
As far as I know, the number-one investment rule is:
<b>NEVER BORROW TO INVEST IN CRYPTO </b>
Seems like MicroStrategy wants to break this rule. I salute them for that :))
πŸ‘  
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vote details (1)
@dagger212 ·
That is a rule for individuals only.  The REAL rule for investing as a company is NEVER USE YOUR OWN MONEY.  Use other peoples' money so if it works, everyone is happy.  If it doesn't, you don't lose anything other than trust and reputation and you can try it again with a different group of people.  

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@dagger212/re-qsyal-34uqxj)
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@qsyal ·
You nailed it
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@edicted ·
This is only a rule for novice traders who are going to lose everything. 
Margin trading is a great tool for hedging and making small focused bets. 
Saylor knows what he's doing. 
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@quixoticflux ·
That's amazing news about the "currency" factor with El Salvador. I just want to be able to buy and sell stuff with crypto and not be worried about serious tax implications.
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@rihc94 ·
As always, patience plays an important role, but the cryptocurrency sector will lead over huge institutions,volume we have seen is insignificant compared what will come.. Great post ;)

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@rihc94/re-edicted-3k8pgp)
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@solymi ·
SoonTM I will pay my monthly expenses in $CAKE and !PIZZA

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@solymi/re-edicted-6fvrbx)
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@pizzabot ·
<div class='pull-right'><center><sup>Connect</sup></center><p><a href="https://discord.gg/Q9bQAKpWGS"><img src="https://files.peakd.com/file/peakd-hive/pizzabot/AKF96fKjnX3wjXERHcKAFHaoHnfTVhXqPjXVz8E1Th9nPiJqmFtaycosVpPBZ7z.png"></a></p></div><div class='pull-right'><center><sup>Trade</sup></center><p><a href='https://hive-engine.com/?p=market&t=PIZZA'><img src="https://files.peakd.com/file/peakd-hive/pizzabot/23sxbi2M4UjELDzQjxPdzubdgfMjHTCtA1xueyxmnhJUrB8136VyK3pqynyWYiZYF9HrC.png"></a></p></div><center><br> <p>@edicted! I sent you a slice of <strong><em>$PIZZA</em></strong> on behalf of @solymi.</p> <p>Learn more about <strong><em>$PIZZA Token</em></strong> at <a href="https://hive.pizza">hive.pizza</a> <sub>(6/10)</sub></p> </center><div></div>
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@stayoutoftherz ·
$0.23
You are my contra-indicator. When you say something positive about BTC it immediately plummets.
πŸ‘  , ,
properties (23)
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vote details (3)
@edicted · (edited)
$0.28
Did you just figure this out?  
Shit has been happening for over a year :D
Straight up constant running joke in LEO community. 
πŸ‘  , ,
properties (23)
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vote details (3)
@amirl ·
I think you did forecast the dip.
I remember you wrote about the double price each year. So you think 2021 will end 55k.
Nevertheless I love your insights on tech and politics, the price is just a follower.
properties (22)
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@sts-21 ·
Yeah, we can see Bitcoin as the currency of the people.
properties (22)
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@thelogicaldude ·
$0.02
LOL I couldn't do anything but laugh because I am thinking the same thing! The problem is, you have so many people trying to make a living really doing nothing with their lives other than being an echo chamber for news to get likes and hits, this is the outcome you get, lol. It has really been a struggle to figure out what kind of content to come up with and actually be original... The problem is... the echo chamber is what people read. People don't give a crap about originality anymore, and it's sad. Same thing with music... People don't want to hear an amazing new original by an artist, they only want to hear covers of the same ole reverberated garbage they have heard a million times. Sorry, morning dab is kicking in and I went on a tangent, lol.



---

<center><sub>Posted via [proofofbrain.io](https://www.proofofbrain.io/@thelogicaldude/qulkw1)</sub></center>
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@universalcitizen ·
Are we there yet?
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@universalcitizen ·
why they are targeting bitcoin?
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@urun ·
please super cycle. 

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@young-boss-karin ·
$0.02
>Are we there yet? Are we there yet? Are we there yet?
Target is still Q4 2021.

I have no idea. I recently stopped paying attention to prices and worked on other streams of possible income. The goal is to stay focused. If Q4 is the target, then so be it.



Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@young-boss-karin/re-edicted-6dqacm)
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