Sfârșitul Tranzitoriului

December Market Outlook

It is not going away.

Last week Fed Chairman Jerome Powell requested that the central bank’s preferred descriptor for the worst price inflation in 40 years (“transitory”) be “retired” from use.

Powell basically admitted that:

a) he was wrong (not always an easy thing to do when you’re the world’s most powerful person)

b) he now agreed with his early critics on this particular topic that inflation will be with us for the foreseeable future

Now, to be clear, heightened inflation (a debatable term) will likely one day “go away”, at least in the United States.

The last period of outsized US inflation started in the 1960s and lasted until the early 1980s, so these episodes can last a decade or more even in the land of the almighty dollar. But they do typically subside.

Powell’s capitulation reminded us of another thing that many of the powers that be have come to recognize is not going away.

Bitcoin.

For many years now we have expressed a view, backed-up by extensive cercetare empirică, that bitcoin/crypto/web 3 are not a passing fad.

And regulators in the jurisdiction that still matters the most — the United States — have been echoing this sentiment since at least încă din 2018, long before Chairman Gensler and Powell did a few months ago.

Now, there are still some holdouts that can be found atop the greying financial system food chain și, în intestinele of academia.

But the smart money, innovators and most powerful regulators all generally recognize that crypto is also non-transitory.

As one of our Blockchain.com teammates recently mentioned, it feels great to work in an industry that is at last widely recognized as a legitimate fixture on the innovation landscape. Not a bad note to end another historic year on.

Rezumat:

1. Mișcări de piață

• For November cryptoasset markets diverged slightly with Bitcoin (BTC) down -7% and Ethereum (ETH) up 8%
• On this month’s webinar lunar we discuss the current cryptoasset price action and 2022 outlook with Blockckchain.com Head of Markets Charlie McGarraugh

2. Perspective în lanț

• On a monthly basis, overall bitcoin on-chain activity continued increasing in the month of November
• Bitcoin’s hash rate (network security) has rebounded to pre-China May crackdown levels

3. Ce citim, auzim și privim

• Explore the latest on crypto and beyond from The New York Times, Bloomberg, Bitcoin Magazine, and more

1. Mișcările pieței

For November cryptoasset markets diverged slightly with Bitcoin (BTC) down -7% and Ethereum (ETH) up 8% (Table 1).

Tabelul 1: Performanța prețului: Bitcoin, Ethereum, Aur, Acțiuni SUA, USD, Trezorerie SUA cu termen lung

2. Perspective în lanț

On a monthly basis, overall bitcoin on-chain activity continued increasing in the month of November (Table 2).

Table 2: November vs October bitcoin on-chain network activity

While the estimated hash rate has gained an impressive 8% this month, the average daily active addresses have remained fairly stagnant with a -0.04% drop. Notably, the average daily fees per transaction have dropped from $3.21 per transaction in October to $2.96 per transaction in November.

3. Ce citim, auzim și privim

Crypto

• All-in: Valuing crypto projects, Rivian worth $100B+, inflation: causes and corrections and more
• Beyond The Valley: How Ethereum is Different from Bitcoin
• Bitcoin Magazine: Discussing The Future Of Decentralized Identity
• Bitcoin Magazine: Forget Bears: Bitcoin Takes On The Duck Curve
• Bitcoin Magazine: How Large-Scale Bitcoin Mining Is Driving Clean Energy Innovation
• Bitcoin Magazine: The Crucial Role Of Wild Horses In Bitcoin Mining
• Bloomberg: Be Careful With Volcano Bonds
• Future: DAOs, A Canon
• Harvard Business Review: How NFTs Create Value
• Marginal Revolution: Bitcoin and Electricity
• Nikkei Asia: Bitcoin Mining is an Easy Industry to Decarbonize
• Pew Research Centre: 16% of Americans say they have ever invested in, traded or used cryptocurrency
• Proptos: Tether Papers, This is exactly who acquired 70% of all USDT ever issued
• Protocol: NFT games are fun. Filing taxes afterward is a nightmare
• Quartz: Why People are Skeptical of Crypto, and Why They Change Their Minds
• The Atlantic: Hey, Facebook, I Made a Metaverse 27 Years Ago
• The Tim Ferriss Show: #542: Chris Dixon and Naval Ravikant — The Wonders of Web3, How to Pick the Right Hill to Climb, Finding the Right Amount of Crypto Regulation, Friends with Benefits, and the Untapped Potential of NFTs

Dincolo de Crypto

• Five Thirty Eight: Most Americans Are Afraid of Inflation
• Food for Thought: GoodFellows, Conversations from the Hoover Institution
• Krebson Security: The Internet is Held Together With Spit & Baling Wire
• Piie: US inflation is running high. What should we worry about now?
• Reuters: The Amazon Lobbyists Who Kill U.S. Consumer Privacy Protections
• Slashdot: Bill Gates’ TerraPower Will Set Up a $4 Billion Nuclear Plant In Wyoming
• The Intercept: The U.S. Treasury is Buying Private App Data to Target and Investigate People
• The Intercept: We’ve All Pretended About Taiwan for 72 Years. It May Not Work Any Longer
• The Washington Post: Beneath the mystery of Tom Brady’s greatness is a modest secret: Self-discipline
• Time Well Spent: Words With Web 3’s King: An Interview With Chris Dixon

Notă importantă

Cercetarea furnizată aici este pentru informații și utilizare generală și nu este destinată să răspundă cerințelor dumneavoastră particulare.

În special, informațiile nu constituie nicio formă de sfat sau recomandare din partea Blockchain.com și nu sunt destinate să fie bazate pe utilizatori în luarea (sau abținerea de la a lua) decizii de investiții.

Înainte de a lua o astfel de decizie, trebuie obținută o consiliere independentă adecvată.

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Sfârșitul Tranzitoriului a fost publicat inițial în @blockchain pe Medium, unde oamenii continuă conversația subliniind și răspunzând la această poveste.

Source: https://medium.com/blockchain/end-of-the-transitory-314075266ba9?source=rss—-8ac49aa8fe03—4