It has been a while. We hope you've been doing well, stacking sats, spending time with your loved ones, and avoiding being sucked into the maelstrom of Clown World 🤡🌏. In this article, we'll cover:
- Bitcoin in Cambodia 🇰🇭
- Bitcoin technical analysis and price prediction 📈
- Finding freedom on Nostr 💜
🇰🇭 Bitcoin in Cambodia
Our Bitcoin OTC desk is alive and kicking. We still offer a fast and reliable service to convert bitcoin into dollars or dollars into bitcoin. Please message us on Telegram to start trading, or check out HodlHodl for a trustworthy intermediary without counterparty risk.
There's only so much regarding Bitcoin in the Kingdom of Wonder. Sure, scammers, grifters, and other unsavory types are always trying to separate a fool from his money with the next "crypto something," but it's rare to meet a true Bitcoiner in Cambodia these days.
We've been trying out the Orange Pill App 🟠, a paid service that lets you connect to fellow Bitcoiners in your area. It's around $ 20/year, a great way to keep scammers out and interesting people in. Consider signing up if you'd like to meet Bitcoiners in real life.
We're also contemplating resurrecting the Phnom Penh Bitcoin meetup. Let's meet up once a month for beers and talk Bitcoin. If you're in Phnom Penh and are interested in this, please reach out.
📈 Bitcoin technical analysis and price prediction
A few months have passed since the last edition of The Weekly Close. Only a little has happened in between. BTCUSD reached our target for the year at $28800, broke through it, and has been consolidating between $28K and $30K ever since.
"What will happen next?" you ask.
In our humble opinion, epic, total insanity on an unseen scale is what comes next. Where we are going, we don't need any charts. Load up your bags now and hodl on.
Well, maybe we need one chart to make our point:
Above, we can see the whole trading history of BTCUSD; every candle represents three months. After every new all-time high, there's been a sharp pullback followed by months to years of consolidation ("Bitcoin is dead," as the mainstream media likes to report). However, once the price starts going, it's not stopping.
The next Bitcoin halving is only 36420 blocks, roughly eight months away. On top of that, Blackrock, the American multinational investment company, will most likely get a Bitcoin spot ETF approved. So, with the halving coming up and Wall Street ready to pump our bags, it's impossible not to be highly bullish on the hardest money the world has ever known. (If you are confused about the Bitcoin halving, check The Weekly Close #9 for a quick explainer.)
The time to stack sats is now. The opportunity to buy bitcoin at $30K is ending and will never return.
It isn't easy to make an accurate prediction, but it seems reasonable to expect a bitcoin price around $200K to $250K sometime in the next 18 months.
💜 Nostr: The purple ostrich will set us free
Nostr is a protocol designed for simplicity that aims to create a censorship-resistant global social network. We first wrote about it in The Weekly Close #15.
Like HTTP or TCP-IP, Nostr is a protocol, an open standard upon which anyone can build. Nostr is not an app or service that you sign up for.
Why do we need Nostr?
Social media has become a critical way information flows around the world. Unfortunately, our current social media systems are broken:
- It uses your attention to sell ads.
- It uses shady techniques to keep you addicted.
- Based on a secret algorithm that we cannot inspect or change, it decides what content to show you.
- It has complete control over who can participate and who is censored.
- It is plagued by spam and bots.
Nostr fixes this
The protocol is based on simple and flexible event objects and uses standard elliptic-curve cryptography for keys and signing. The user is in complete control.
Nostr is resilient
Nostr doesn't rely on a small number of trusted servers for moving or storing data. The protocol assumes that relays will disappear and allows users to connect and publish to an arbitrary number of relays that can change over time.
Nostr is verifiable
Because Nostr accounts are based on public-key cryptography, it's easy to verify messages were sent by the user in question.
⚡ Nostr has zaps ⚡
Integration with the Lightning Network (see The Weekly Close #7 for a quick explanation on Lightning) allows users to "zap" posts and other users (sending sats instantly over the Bitcoin Lightning Network). It creates a value-for-value system without middlemen.
Nostr is fun
There's a sense of fun, freedom, and hope that's nowhere to be found in Clown World 🤡🌏.
Getting started with Nostr is easy.
First and foremost, you'll need to create a private/public key pair. The Alby browser extension is an easy and secure way to do this:
Once you have generated your keys, you can use a client of your choice to dive into the beautiful world of Nostr.
Here are a few popular clients:
Don't forget to give us a follow, and maybe together, we can make "#Cambodia" a thing on Nostr!
What's coming next?
We are at the very beginning of the most spectacular bull run Bitcoin has ever experienced. The following 18 months or so are going to be a wild ride. Now is the best time to buy more sats before this bull gets going.
While Clown World🤡🌏 keeps dragging on, we are very optimistic about a bright orange🟠 and purple💜 future.
The combination of decentralized, uncensorable, unstoppable communication and decentralized, uncensorable, unstoppable money is something the world has never seen before. Freedom tech for the win!
Not trading advice. You are solely responsible for your actions and decisions.