Berkshire Hathaway v. BTC down 99% since 2015 (Not a glitch)

Happy hump day toads,

State of the Market: Bitcoin Hits $71K, Gets Whiplash – What's Next? 🚀💥

Hold onto your keyboards, folks! Bitcoin briefly touched $71,000, thanks to a wave of short liquidations. But don't get too comfy – the analysts over at Glassnode are predicting a bumpy ride ahead. They say increased volatility and potential sell-side pressure from long-term hodlers might throw a wrench in this rally. Buckle up! 🎢

ECB Rate Cuts & Market Optimism: This week, all eyes are on the European Central Bank (ECB) as markets anticipate a rate cut. This has everyone feeling like it's Christmas in July, with optimism spreading like wildfire and giving Bitcoin and equities a nice boost. 🎄💸

Historic Breakout on the Horizon? Bitcoin market commentators are buzzing with confidence, predicting BTC price action is building towards a historic breakout. With increased whale activity, strong on-chain data, and favorable macro conditions, traders are eyeing that $72,000 resistance level like it's the final boss in a video game. Will they beat the level? 🐋🎮

Technical Signals Flashing Green: On the technical front, Bitcoin's hash ribbons have just flashed their first buy signal since BTC was at $25,000. According to Capriole Investments, this could mean significant price gains are on the horizon. Looks like investors won't have to wait until summer is over to see some serious action. ☀️📈

What About Ethereum? Has the ETH ETF fever fizzled out? Not a chance! According to K33 Research, Ether (ETH) is gearing up for a supply "shock" with ETFs potentially attracting $4 billion in inflows over the next five months. This could lead ETH to finally outperform Bitcoin after lagging behind for nearly two and a half years. The launch of Ethereum ETFs is expected to shake up the market dynamics and send ETH prices soaring. 🚀💎

So there you have it, folks – Bitcoin's wild ride, ECB rate cut anticipation, and Ethereum's potential comeback. Keep those diamond hands strong and stay tuned! 

Chart of the Day: NYSE's Monday Meltdown: A Glitch in the Matrix 📉🛠️

https://x.com/tom_honzik/status/1797712711838732402 

Oh boy, the New York Stock Exchange (NYSE) had a bit of a Monday meltdown! A technical glitch caused some stock prices to go haywire. The most jaw-dropping error? Berkshire Hathaway looked like it was down 99%! Spoiler alert: it wasn't. This little hiccup threw the market into a temporary tizzy. 🤯📊

But hold up, there's a twist! Since 2015, Warren Buffett's beloved Berkshire Hathaway has actually seen a 99% decline against Bitcoin. Imagine if the Oracle of Omaha had allocated just 1% of his portfolio to Bitcoin – his profits could've skyrocketed by over 25%! 🚀💸 This just shows the game-changing potential of even a small Bitcoin investment in traditional portfolios.

Don’t sweat it, Warren! Crypto's got your back. Chainlink’s decentralized oracle network can swoop in to save the day. With its tamper-proof data feeds and real-time verification, Chainlink could fix stock market glitches like the one that made Berkshire Hathaway look like it took a nosedive. This tech can boost the stability and reliability of stock exchanges, making such colossal goof-ups a thing of the past. 🛡️📈

So, next time the NYSE has a hiccup, maybe they should give Chainlink a call. Just saying! 🤷‍♂️📞

Most Important News of the Day.

Bitcoin and ETF Market Developments: 🚀💸

Australia is about to get a taste of Bitcoin magic with the Monochrome Bitcoin ETF (IBTC) starting to trade on CBOE tomorrow. It’s a huge milestone for Bitcoin adoption down under! 🦘🏦

Thailand just gave the green light to its first spot Bitcoin ETF, with One Asset Management hopping on the bandwagon. Another win for regulated Bitcoin funds! 🏖️🔗

US Bitcoin ETFs have seen 15 days straight of inflows, now hitting a massive $14 billion. Fidelity gave it a $77 million boost, showing that investor interest is still going strong. 📈💪

Market Trends and Activity: 🌊🔄

Bitcoin that’s been dormant for five years or more is waking up! This shift in long-term holder behavior suggests BTC is shaking off the cobwebs and getting ready to move. 🌄🔑

GME, ROAR, and KITTY memecoins are on fire as Roaring Kitty makes a triumphant return to Reddit after a three-year hiatus. GameStop also soared over 80% in pre-market trading after Roaring Kitty revealed his $180 million position in the stock. 🐱🔥🎮

Regulatory and Legal Developments: ⚖️📝

FTX and the IRS have hashed out a deal for around $885 million. FTX debtors will fork over $200 million now, with a lower priority claim of $685 million still on the table. 💵🤝

Tether’s CEO is raising eyebrows over the EU's MiCA regulation, calling out its tough requirements. He warns that these could make stablecoin issuance a nightmare and leave EU-licensed stablecoins exposed. 🇪🇺💣

Global Adoption and CBDC Initiatives: 🌍💱

Qatar Central Bank just kicked off the first phase of its CBDC project as part of its national development strategy. Digital riyal, here we come! 🏙️💻

Our Daily Pick: ATOR Protocol: The Privacy Agent for the Tor Network! 🕵️‍♀️

What is ATOR Protocol? ATOR Protocol is a blockchain-based project that’s all about supercharging the Tor network. It incentivizes the adoption of Tor by creating specialized hardware (like routers and relays) and implementing a Proof of Uptime (PoU) mechanism to reward node operators with ATOR tokens. This approach addresses the network's limitations by introducing economic incentives for running Tor nodes, thereby improving its scalability, performance, and security. 🔒💰

What’s it used for? ATOR Protocol boosts the Tor network's performance, security, and adoption by providing financial rewards for running Tor nodes. This encourages more people to join in, making the network more stable and efficient. 🚀🔗

Who’s backing it up? ATOR Protocol has caught the eye of several key Ethereum developers and influential crypto wallets. Investments from early Ethereum adopters and key figures showcase strong backing from seasoned industry players. 💼🌟

Tokenomics:

• Circulating Supply: 90.36 million ATOR tokens

• Maximum Supply: 100 million ATOR tokens

Market Position: ATOR Protocol is currently at the 330th place. 🏆

Superpowers:

• Incentivizing Tor Adoption: ATOR Protocol dishes out ATOR tokens to folks who operate Tor relays and routers. This incentivization aims to increase the number of nodes, boosting the network's bandwidth and reliability. 📈🖧

• Enhancing Privacy and Security: The main mission of ATOR Protocol is to keep online privacy and security top-notch. By increasing the number of nodes, the network can offer better anonymity and protect users' data from being tracked or censored by ISPs or other entities. 🕵️‍♂️🔒

• Decentralized Network Infrastructure: ATOR aims to build a rock-solid, decentralized infrastructure for the Tor network. This includes developing and selling hardware like routers and relays specifically designed for Tor, ensuring the network stays free from central points of failure and control. 🏗️🔗

Problems Solved:

• Data Privacy: Helps users stay anonymous online, protecting personal data from exploitation by corporations or governments.

• Network Censorship: Bypasses ISP restrictions and censorship, allowing free and open access to information.

• Economic Incentives: Provides a financial model to support and expand the Tor network, encouraging continuous improvements. 🌍🔓

Core Concepts:

• Proof of Uptime (PoU): Rewards nodes based on uptime, ensuring network reliability and incentivizing consistent participation.

• Tor Hardware: Development of user-friendly routers and relays to enhance network infrastructure and accessibility. 🖥️🔗

Use Cases:

• Anonymous Browsing: Allows users to surf the web without revealing their identity, ensuring privacy.

• Secure Communications: Provides a secure, anonymous channel for communication, free from surveillance.

• Economic Participation: Users can earn ATOR tokens by running Tor nodes, creating a decentralized and incentivized network. 🕵️‍♂️💬

Launch Timeline:

• Token Launch: February 2023, with ongoing development and key hardware releases planned through 2024.

• Hardware Phases: Various phases include Proof of Concept, open-source code releases, and the rollout of specialized routers and relay hardware. 📅🚀

Final Thoughts: ATOR Protocol represents a significant innovation in decentralized privacy networks. Its potential to improve the Tor network's performance and security, combined with strong backing and a clear incentive model, makes it a promising project. However, its success will depend on effective implementation, community support, and overcoming technical and adoption challenges. If successful, ATOR could play a crucial role in enhancing online privacy and decentralization. 🌐🔒

See you Friday,

-Pep