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⚡Economic Collapse Months Away💥

Croxroad

17 Sep 2023 — 6 min read

☕️ GM Dear Plebs!

Here is Crox Road, your daily dose of orange pill that will turn you into a Bitcoin Maxi.

The menu for today:

🙏 Economic Apocalypse on the Horizon

Max Keiser, who's known for talking about money and stuff, has some serious concerns about the global economy. He's even advising the president of El Salvador, so people are taking him pretty seriously.

He's basically saying that there's a big problem brewing in the world's financial systems, and it might all go haywire in just a few months. He's pointing to issues with regular money (fiat money) not doing so well, prices going up a lot (that's inflation), and he thinks Bitcoin might have a big part to play in how we handle money in the future.

Max Keiser is sounding the alarm about a possible economic disaster, and he thinks Bitcoin could be a key part of the solution. It's like he's saying, "Hey, folks, we've got some serious money troubles ahead, and Bitcoin might be the answer." Indeed it is!

Max Keiser is a man of many talents. He's been on TV, hosted radio shows, and even started some businesses. But what he's really famous for is this show called the "Keiser Report" that's all about money stuff. He does it with his wife, Stacy Herbert, and they talk about what's happening in different countries with their money, what's going on in the economy, and how cryptocurrency is shaking up the way we handle cash around the world.

Max has been going on and on about Bitcoin for a while now. He's always talking about how it's going to turn the regular money system upside down. And you know what? He's not shy about sharing his strong opinions, even if they ruffle some feathers. So, yeah, he's a pretty passionate and sometimes controversial guy when it comes to finance, economics, and all things crypto.

Max Keiser is saying that the regular money used in some countries, like Argentina and Lebanon, is in big trouble. He's not just saying it's a little problem; he's making it sound pretty serious.

He's pointing at the inflation numbers, which basically means the prices of things are going up, and that's a sign that these money systems are shaky. What's worse is that it's not some distant issue; it's hitting people right in their wallets. They're having a tough time paying for things like housing, food, and energy because the prices are getting out of control.

Max isn't too happy with how the United States is handling its money matters. He's got a couple of major beefs with their economic policies.

First, he's saying that the interest they're paying on their debt is now even more than what they're spending on the military. That's a big deal. He's also not a fan of this idea called "trickle-down economics," where they promise that if they make the rich richer, it'll help everyone else. According to Max, that hasn't worked out too well. Instead, they've been printing a ton of money and investing it in all the wrong places. And guess what? A bunch of that money has just disappeared into thin air, thanks to some big accounting firms.

Now, he's painting a pretty bleak picture of the future. He's saying there are two bad scenarios: one where prices just keep going up and up (hyperinflation), or another where everything crashes and prices drop so much that it's bad for everyone (deflationary depression). In either case, he's warning that life is going to get a lot tougher. And the really concerning part is that he doesn't see any good solutions being put forward to fix these problems, which makes him think this crisis is a pretty big deal.

Max believes we could switch to using Bitcoin as our main money because he thinks many banks are in deep trouble. He says they're faking their financial health with tricky accounting.

What's interesting is that even top politicians are talking about using Bitcoin to fix these banking problems.

Max is also worried about big central banks, especially the Bank of Japan, which he thinks is close to collapsing. If it does, he believes it could trigger a worldwide economic crisis.

He's been warning about this for a while, and now he thinks it could happen within a few months. In a nutshell, he's saying, "We're heading for a big financial disaster, and it's getting closer." So Buy Bitcoin and play Safe!

⁉️ $531,120 worth BTC Fee Repaid

An unusual and costly event has taken place in the world of Bitcoin. This occurrence appears to be accidental, mainly because of the way Bitcoin transactions work. Individuals can determine the fees associated with their Bitcoin transactions, and it's highly unlikely that someone would deliberately choose to overpay, especially by such a significant amount. In this particular case, a transaction was sent with a fee that was far larger than usual, amounting to 19.82108632 BTC. What makes this even more intriguing is that the sender possessed a substantial 20 BTC balance.

However, what makes this incident stand out is the response from F2Pool, the mining pool that processed the block containing this high-fee transaction. Despite having no obligation to do so, F2Pool decided to return the entire excessive fee of 19.82108632 BTC to the original sender, Paxos. This gesture may seem surprising, prompting the question of why they would take such a step. Bravo!

One possible explanation for F2Pool's decision lies in the history of Bitcoin transactions. As Jameson Lopp, a prominent figure in the Bitcoin community, pointed out, there have been past instances where mining pools and miners returned excessively high fees. Lopp recalled a similar incident occurring around 2016, involving BitGo, a Bitcoin wallet provider. In that case, an 80 BTC fee was mistakenly paid due to an overflow bug in a JavaScript library. Despite the potential for short-term profit in retaining these fees, miners understand that humans make errors.

Miners are not immune to compassion, and they recognize that the right thing to do when encountering an obvious mistake like this is to return the funds to their rightful owner. In essence, while Bitcoin operates on a decentralized and profit-driven network, it still reflects the humanity of its participants. This incident serves as a testament to the ethical considerations and the acknowledgment of human fallibility within the Bitcoin mining community.

🆙 Bullish Engulfing

Alright, so there's this thing in the world of candlestick chart patterns called the "bullish engulfing." It's a bit different from the other patterns because it involves not one, but two candlesticks.

The first candle in this duo is like the starter. It's a short one, and it's red, indicating that the price went down a bit during that time. But here's where it gets interesting: the second candle is a green one, and it's got a bigger body. This green candle totally engulfs the previous red one, like it's saying, "I'm taking over now!"

Now, here's the cool part. Even though the second candle starts off with a lower price than the first one, things change. Buyers start getting more active, and that pushes the price up. This shift in momentum can actually turn the tide and put an end to a downward trend, which is why they call it "bullish engulfing." It's like a comeback story in the world of trading!