Category: Digital Disruption

DFA Live Q&A HD Replay: After The Halving: With Adam Stokes

This is an edited version of a live discussion, Adam Stokes, a crypto advocate in which we discussed the recent halving, and what may happen next.

Last weekend marked the highly anticipated Bitcoin halving event, which reduces the supply of new coins. While the short-term impact may be muted, long-term investors remain optimistic due to its historical correlation with price surges. But Bitcoin remains trapped within the consolidation phase that began in March. If a fresh wave of selling erupts due to global events, the critical support at $60,000 will be in focus.

Since last summer, Bitcoin has been heavily influenced by ETF inflows. Investors have placed more than $US12 billion into cryptocurrency exchange-traded funds listed in the United States in the last month alone. Initially, spot Bitcoin ETF anticipation drove the price. Later, the launch of such ETFs accelerated institutional buying, propelling Bitcoin to pre-halving highs. With institutions now holding a significant amount of Bitcoin, any slowdown in ETF sales could delay the halving’s positive impact.

The halving last weekend marked the fourth event of its kind since the first bitcoin was produced on January 3, 2009. Following the halving, the number of bitcoin being “minted” globally each day will drop from around 900 to 450. The price of bitcoin has generally risen after each previous halving event.

Despite tracking sideways for much of the last month, the price of the cryptocurrency is still up more than 50 per cent since the start of the year. That compares to a 5.6 per cent return from the S&P 500 index and -0.1 per cent return from the ASX 200 since January 1.

https://www.youtube.com/@adamstokes

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The Fight For Cash Just Got Terminally Serious!

Despite cash being legal tender in Australia, surprisingly it is legal for businesses to refuse to accept it provided that they inform consumers of their stance before any “contract” for the supply of goods or services is entered into.

The war on cash has taken an interesting turn, with the RBA being questioned by the Senate Inquiry into Regional Bank Branch closures, and claiming the use of cash had fallen, but frankly on thin and filtered evidence; while Armaguard, Australia’s only cash-in-transit business is facing the prospect of collapsing due to the claimed declining use of cash. The RBA, which regulates the payments industry and is responsible for printing money is also involved in the crisis talks.

And a social media campaign, led by the Cash is King Facebook group is calling on Aussies to withdraw and use cash next Tuesday, April 2, in protest against the shift to digital payments. The protest is aimed at showing Australia’s banks and retailers that there is still a demand for the use of cash in society. That is, if you can still find an ATM.

So, action on Tuesday to grab some cash could be an important step on the road to saving cash for All Australians who want to use it, despite pressure from the Government who is responding to huge pressure from the commercial banks. This in turn puts massive pressure on the current Senate review, who is scheduled to hold one more community hearing on Bribie Island on the 16th April. Will the committee who has laid bare the issues of branch closures and removal of cash come good or hook their final report like the earlier Royal Commission Inquiry into Financial Services, which exposed major issues through their hearings, only to turn to water in their final report and recommendations, which allowed the banks to behave business as usual. This time all eyes will be on the Senate.

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Digital Tyranny Is One Step Closer!

Remember the parable of the frog, who slowly gets cooked to death, in a pot as the temperature rises – well, the same in true for Australians, as civil liberties such as the use of cash, are removed, even as the digital architecture for future control gets put in place. You can see parallels elsewhere round the world, and aligned with the agenda of several high profile non-elected bodies like the World Economic Forum – of “you will own nothing and be happy” fame.

Australia’s Digital ID Bill 2023 was initially introduced to the Senate on November 30, 2023, and has since undergone a Senate inquiry and brief consultation period before this week being pushed through the Senate without debate. Despite assurances of voluntariness and promises to simplify citizens’ lives, the Labor government has faced backlash for the lack of scrutiny given to the bill.

And there is of course the wider, story here potentially linking digital ID with Central Bank Digital Currency and Social Scores, perhaps enabling the idea peddled by the World Economic Forum and other non-elected global entities, that we the people can be better controlled in terms of what we can, say, or even purchase. So you value your privacy, liberty and the rule of law, the Digital ID Bill must be defeated, time to put pressure back on the house of representatives when the amended bill comes back.

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“Deaf” Bankers Called To Account!

The Commonwealth Bank subsidiary Bankwest, the 130-year-old former Bank of Western Australia bank announced last Wednesday that it was moving to become a digital-only bank and would close 45 locations in the state. The 45 Bankwest branches that have been earmarked for closure will close their doors by October this year. There are 28 locations in Perth and 17 in regional WA. A further 15 branches will be rebranded under the Commonwealth Bank banner and are expected to finish their transformation by the end of the year.

Yes, this is the same CBA whose CEO Mat Comyn on 20th September 2023 in a statement to the Senate Inquiry into regional branch closures promised not to close more branches until at least 2026, even though they specifically excluded Bankwest from their statement, while saying “we recognise the unique and important contribution that regional Australia makes to our country”. “Our decision to pause regional branch closures is also predicated on customers and communities valuing our decision to stay”.

Committee member Senator Richard Colbeck said the Senate committee has been hearing plenty of people raising concerns about the vital banking services being lost.

“Every week in our hearings we hear from local communities how important these essential services are and how their communities are affected, yet those who are given a license to provide those services, the so-called service sector, continuously ignore those pleas and withdraw services – it is as though their ears were painted on,” he said.

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Bitcoin Gets The SEC’s Spot Tick – But Caveat Emptor!

The Securities and Exchange Commission has for the first time approved exchange-traded funds that invest directly in Bitcoin, a move heralded as a landmark event for the roughly $1.7 trillion digital-asset sector that will broaden access to the largest cryptocurrency on Wall Street and beyond.

Now much is resting on the concept that the futures market has already brought crypto assets sufficiently into the financial mainstream.

The SEC was frankly bounced into this decision in response to the loss of some critical legal cases, and puts Bitcoin ever closer to existing financial services players. This does not necessarily mitigate risk.

SEC Chair Gary Gensler said “While we approved the listing and trading of certain spot Bitcoin ETP shares today, we did not approve or endorse Bitcoin,”. “Investors should remain cautious about the myriad risks associated with Bitcoin and products whose value is tied to crypto.”

Crypto zealots have for years argued that a so-called spot fund that invests directly in Bitcoin would be beneficial to investors and would help bring the industry closer to the more highly regulated world of traditional finance. It also suggests a sort of milestone of maturity for the relatively nascent industry, where skirmishes with regulators came to a climax after the collapse of Sam Bankman-Fried’s FTX empire highlighted risks lurking in the industry.

But of course, by definition, the mainstream approval this represents cuts right across the original ideology of Bitcoin already compromised by the significant use of derivatives, and becoming ever more controlled by large financial institutions and regulators.

Even after Gensler went to such lengths to say that the SEC wasn’t giving any seal of approval to Bitcoin, the odds remain that this will expose many more people to crypto’s risks and opportunities. So Caveat Emptor! Let The Buyer Beware!

DFA Live: Update From Crypto Land With Adam Stokes 8pm Tuesday

Join me for a live Q&A on the state of the crypto markets, with Adam Stokes https://www.youtube.com/@UC_LynnVoF0RJV6BjNJW26Ig

The global cryptocurrency market cap today is $1.22 Trillion, a -0.15% change in the last 24 hours and 25.83% change one year ago.

We look at the latest trends and fads, and set this in a broader discussion about the nature of money.

You can ask a question live via the YT chat.

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Caveat Emptor! Note: this is NOT financial or property advice!!

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DFA Live Q&A Replay: AI Value Chains, Rates, And Productivity – With Damien Klassen

This is an edited version of our latest live show, with Damien Klassen, Head of Investments At Nucleus Wealth and Walk The World Funds.

In the show we did a deep dive on AI, discussed the RBA decision and its consequences and the broader investment environment.

http://www.martinnorth.com/

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Crypto: Into 2023 With Adam Stokes…

I caught up with Adam Stokes, for a review of 2022 and into 2023. The Crypto community took a number of body blows in the year, most notably the failure of FTX, against the backcloth of Central Bank Digital Currency pilots and calls for increased regulation.

And how does all this play into the need to control inflation, and for sound money? Where might 2023 take us?

https://www.youtube.com/@UC_LynnVoF0RJV6BjNJW26Ig

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A Real Deep Perspective On Crypto…

I caught up with the CEO of BTC Markets to discuss the broader perspectives on Crypto in the light of FTX.

https://www.btcmarkets.net/about-us

Perhaps we should be careful not to put the baby out with the bathwater!

“Our vision is to build the digital financial infrastructure for the future. We are moving forward with that overarching and audacious strategy and can clearly see how this will roll out.” Caroline Bowler CEO, BTC Markets

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