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Issue #69 Dude

Author

Damon from Ghost Finance
August 01, 2024

Issue: 69

This is the GhostFi Crypto newsletter. We are back from the beaches of the Riviera Maya, complete with spotty Wifi and internet, but we’re reenergized and 5 shades darker. So let’s dive into what’s happening here in the states, like BTC 2024.

In honor of Issue #69

Make bank on the sideways action 24/7.

Bitcoin 2024 Conference Recap: Trump’s Bitcoin Bonanza, Snowden’s Skepticism, and Saylor’s $49 Million Dream

This past weekend, Nashville hosted the Bitcoin 2024 conference, where crypto enthusiasts gathered to witness a spectacle that could only be described as a mix of a tech expo and a political rally, with a dash of "who wore it best" among presidential candidates.

The highlight? None other than former President Donald Trump, who, in a move that had everyone raising their eyebrows (and maybe a few drinks), announced that he would make Bitcoin a strategic reserve asset if he gets re-elected. Yes, you heard that right—he’s ready to turn the U.S. government into the world’s biggest Bitcoin hoarder. Apparently, the government currently holds around 210,000 Bitcoin, which he claims is a secret that not many Americans know. Who knew Uncle Sam was such a crypto fan?

Trump also promised to fire SEC Chair Gary Gensler on his first day in office, because nothing says “I love Bitcoin” like a good old-fashioned political purge. He plans to establish a Bitcoin advisory council, shut down “Operation ChokePoint 2.0” (whatever that is), and ensure that the U.S. becomes the top dog in Bitcoin mining. It’s like he’s trying to turn America into a Bitcoin theme park.

But it wasn’t just Trump stealing the spotlight. Other notable speakers included Robert F. Kennedy Jr., who also jumped on the Bitcoin bandwagon, proposing that the U.S. Treasury should buy 550 Bitcoin daily until they build a reserve of 4 million coins. Because, you know, why not?

Day one of the conference featured speakers discussing the booming demand for Bitcoin ETFs, with BlackRock’s Robert Mitchnick noting that the momentum is just getting started. Apparently, Larry Fink, the CEO of BlackRock, has had a change of heart about crypto—proof that miracles do happen.

As the conference rolled on, Senator Cynthia Lummis chimed in, promising to find a balance between consumer protection and letting the crypto industry run wild. She even suggested that Bitcoin mining could help innovate the energy sector. Who knew mining could be so eco-friendly?

And let’s not forget Edward Snowden, who joined via a conference call from Russia, warning attendees to be wary of politicians suddenly cozying up to crypto. “They fight us, then they try to get us to love them,” he quipped, reminding everyone that political promises are about as reliable as a Bitcoin price prediction.

In summary, the Bitcoin 2024 conference was a wild ride filled with political posturing, grand promises, and a whole lot of Bitcoin love. Whether it’ll lead to anything substantial or just more hot air remains to be seen, but one thing is for sure: the crypto circus is alive and well in Nashville!

Lummis Wants Uncle Sam to HODL: The BITCOIN Act's Wild Ride

Well, folks, it seems Senator Cynthia Lummis has decided to take the crypto craze to a whole new level of governmental absurdity. Introducing the BITCOIN Act - because apparently, what America really needs right now is a strategic reserve of digital magic internet money.

In a move that's about as subtle as a bull in a China shop, Lummis declared this to be our "Louisiana Purchase moment." Yes, because buying vast swathes of unexplored territory is totally the same as hoarding digital coins. Who needs land when you can have virtual real estate, right?

The good senator wants Uncle Sam to go on a Bitcoin shopping spree, aiming to snatch up 5% of all Bitcoin over five years. It's like a government-sponsored version of "Supermarket Sweep," but instead of groceries, they're grabbing digital assets.

And don't worry, they're not planning to sell anytime soon. The bill mandates a minimum 20-year hodling period. Because nothing says "responsible governance" like diamond hands on taxpayer-funded crypto.

But wait, there's more! They're going to fund this crypto adventure by "diversifying" existing Federal Reserve and Treasury funds. Translation: They're going to gamble with your money on the world's most volatile asset. What could possibly go wrong?

Meanwhile, Donald Trump, not one to be outdone in the realm of outlandish promises, vowed to make the U.S. the "crypto capital of the planet." Because apparently, "Make America Great Again" wasn't catchy enough, so now it's "Make America Crypto Again."

Of course, not everyone's thrilled about this Bitcoin bonanza. Nobel laureate Paul Krugman called it a "government bailout of a scandal-ridden, value and environment-destroying industry." But what does he know? He's only won a Nobel Prize in Economics.

So there you have it, folks. In a world where economic stability is overrated, and volatility is the new black, our politicians are ready to bet the farm on Bitcoin. Who needs a gold standard when you can have a meme standard? Welcome to the future of finance, where your tax dollars might just end up in a digital wallet. Isn't democracy grand?

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đŸ’» Crypto Terminology

Annual Percentage Rate (APR -) The amount of interest a borrower must pay each year is known as the annual percentage rate (APR). The annual percentage rate (APR) is determined by multiplying the periodic interest rate by

Annual Percentage Yield (APY) - Annual percentage yield (APY) is the rate of return gained over the course of a year on a specific investment. Compounding interest, which is computed on a regular basis.

Anti-dump/Anti-Dumping Policy- The anti-dumping policy is a set of rules that protects investors from falling victim to a pump and dump scheme.

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My house during the pump.

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DP

*DISCLAIMER: None of this is financial advice. This newsletter is strictly for educational and entertainment purposes; it is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your research.

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