Can I sell it for money or buy something with it? That is the question I hear a lot when I talk about crypto's and I must admit that trust is a very complicated issue. If you want to give people a token of appreciation, they refuse to accept it or treat it like it has not value, but as soon as you set limitations they start to complain about it. Take DOGE for example, it the time it came out the standard tickerlength was 3 characters long and net e-coins where introduced daily in which the e was pronounced as in e-mail and DOG-e with it's cute little tail managed to gain traction and got added on several exchanges. I remember the time I had over 50 million DOGE on cryptsy.com, please be aware everybody, not your keys, not your coins.
After a great first success there was the best invention any cryptocoin miner could have ever asked for, infinite inflation. A barrier was put in place that kept the DOGE-coin emission per block at 10.000, this means per day 14.4 million DOGE are created by computer that crunch numbers and these computers are hunting for a daily pricepool of 71 bitcoins at a tradingprice of 500satoshi. Yes, this costs energy, but howmuch energy do you think those ATM's on the streetcorner consume? Or what about those armoured trucks that distribute change currency, are they running on fairydust? With 1 satoshi being the generally accepted smallest medium of exchange, DOGE was one of the first to release a total amount of coins in circulation of well over 100.000.000, namely a thousand fold of that. That means for each satoshi that DOGE manages to gain or decline in BTCprice, 1000 Bitcoins value of marketcap will be created or destroyed. It also means that if DOGEcoin holds the value of 1 satoshi, it's total market worth is 1000 Bitcoin, which means at 500satoshi is is 500.000 BTC.
The Bitcoin of the Netherlands, EFL, which I also mentioned yesterday, has a huge problem, if you have to take the word of the official foundation for it, and that problem is me. If that would be true, DOGEcoin has seen it's dead with the arrival of Elon Musk. From the DOGEcoin blockhain we can derive a address with 25% of all outstanding DOGE on it and it holds multiple transactions that go for the same amount as Elon's birthday, 28 june 1971. I personally think it's great that Elon revived the DOGEcoin foundation, but as you can guess based on my last story, I'm not so much in favor with his idea to change DOGE to POS in order to reduce energy consumption. The energy consumption is just a result from people that need to solve problems with one another. If Elon wanted to buy a POS DOGE he should have looked into a coin like RDD, which has all the specifications of DOGE, except that it is POS instead of POW, but he didn't because RDD doesn't have a cute little DOG-e as a mascotte, nor has it the same amount of liquidity and coverage on exchanges. Wouldn't it be great for Elon Musk to take that 25% stake and receive about 4.5 million DOGE per day for it? We can all see the incentive why he is going to try and greenwash DOGE, but personally I despise it. As long as human beings can not live without money, it's ok if we spend our energy on solving this problem for us. The problem is not about the consumption of the energy, but instead the peoples need to express value in a number. I really hope DOGE will not get corrupted and stay's in original state, but I don't believe Elon stands a chance against that cute little dog on the DOGE logo. I think the best and most fair solution would be for Elon to fork DOGE and continue with the changes that he likes to see, he can't stop the DOGE anyway, so let the forking begin and double some coins.
Just like Elon Musk is not a thread for DOGE, I'm not a threat for the Bitcoin of the Netherlands, e-Gulden EFL. The reason why I chose this coin is because the Dutch need a sound money system to store wealth over longer periods of time. Forget about a payment system, I'm sure it will do that also, but if you want to pay something in the Netherlands there are much more convenient way's to solve your problem. The real danger for the Dutch people is that they save up about 1 billion dollar per month to use when they are old, but since crypto saw the light, that money has lost millions of % in value. EFL needs to be HODL'd and not spoken about, but how do you build a community around that? I've used plenty of EFL to pay things with by the way, just like I've been spending Bitcoins from 100$ upwards, but I can only spend my coins once and had to buy them first. I've been urging people to buy 1 euro of EFL, if you really want to go hardcore, you make it into 1 euro per month, but transact that 1 euro, because the upward potential it can bring compared to the loss you are willing to take is one of the best you will see in a lifetime. You don't have to complain about the current situation, just accept the current situation and start something extra next to it. The problem is not that somebody sees a future in your coin and uses it for something they see fit, the problem only exists if the goal post get's removed and somebody tries to change the game. I was just born in the time when Satoshi Nakamoto invented Bitcoin and the world changed a bit. Some accountability was added to the game by the people that wanted to escape a piramid scheme that pay's for wars for resources abroad. Bin Laden did it, WE'VE GOT 'EM... and dropped him into the ocean.... near the island of somebody that didn't kill himself.
Anyway, these people that ask if they can sell their crypto in the future have a fiat based mindset that mr. Musk is currently taking advantage of. As soon as the flippening event will circle the globe, the turnover rate will pick up in which the money is maneuvered in such a way that dominance will slowly switch from BTC to ETH, this will later be used as excuse why ETH has taken over from BTC, but if both will always remain to exist it is inevitable that BTC will at some point take over from ETH again, because of the emission of new coins and this is taking us back to DOGE. With it's high circulation and possibility to exchange for many other crypto's, Elon is currently changing those DOGE for other crypto's that trade against it, once bitcoin will break the 100K USD price you will see the value of doge rising just a little bit let then bitcoin is gaining in dollars, so that every dollar minded dogecoin investor can sell with a profit, while losing bitcoins.
After a couple of months of taking profit and doubling some bitcoins Elon Musk is now accepting crypto for Tesla's again, while he is shooting rockets into space the western citizens are terrorized with unproportional violence for their civil disobedience. Take upcoming Sunday, when Formula 1 will take place in the Netherlands. One of the biggest Corona protests is planned for that day's and I'm planning to stream it live. What I don't understand is why the protest should take place in Amsterdam, I think it would be much more effective to take over the Formula 1 runway and have a 3 hour live global broadcast, seen by millions of people around the globe. I agree, it would be an obstruction of a peaceful gathering, but how is it even possible to take place in the first place, because the outfit of perfectly healthy world class sportsman and their teams all of a sudden consist of mouth cloths? I hope by now people know that these non-medical masks don't protect you against viruses and can actually cause bacterial infections if they are used under wrong conditions. I understand you want to innovate your sport, Grosjean is alive today because of the incredible technological advancement a sport like Formula 1 has gone tru in the last decades. Debt money has one huge advantage over crypto, and that is that you can print endless amounts of it. By hiding some key elements to peoples basic economic education it has been possible that people risk their lives for a reward. These gladiators of our present time, of which some predecessors died in the ring, are now forced to race at half empty stadiums and fans are no longer allowed to scream or dance during the event. Also, how many places to gather and watch the race together are still closed today? If I put things in perspective, I can't say a Formula 1 race is more important then freedom, are race is nice, but howmuch fun is it really if you know the world is suffering for all the wrong reasons.
Anyway, I thought it would be a great idea to make a second 9/11 memorial episode and give away 911 EFL that day, the numbers seems to fit, so you can expect at least one more special this month, besides my birthday ofcourse, but that will be all he way at the end. This Sunday we will first see if we can establish a connection with some feet on the ground at the location of the protest. If you want to stay up to date and hear about the millions of HONKHONK.io SLP I give away, you are also welcome to join the Telegram chat.