Authority Comes Down To One Thing
**Authority Comes Down To One Thing**
A lot of people view “authority” according to numbers. In particular, followers, likes, and general engagement. I however view an authoritative voice via the only true metric, accuracy. Being well-connected, ranked, and “worshipped” won’t bring accuracy to your voice. No matter where I go I find there is always a form of this dynamic. I can revisit many “influencers” posts from three to four months ago and be entertained by a constantly changing narrative. What this actually reveals to the more knowledgeable reader is that this is evidence of someone “following the market”. It’s actually become extremely amusing to watch so many adjust their stories to meet the market. Yes, I understand that as price action matures and events unfold, there is adjustment. However, a well-informed projection has factored in many of what is to be expected in a bearish phase. Long-term charting is also observed, and key levels of support and resistance over many years are also observed and respected. The macro environment is also factored into the thesis. As I have mentioned, this has been one of the largest points of failure among Crypto investors. Tremendous Ignorance exists in regard to “higher level” indicators that exist outside of Crypto.
**Acknowledgment Is Not Authority**
People seek acknowledgment and therefore give credit to fame instead of accuracy. I don’t expect this to ever change. That is why I have even personally admitted that I don’t ever envision an extensive reader base. I could list numerous points in the market where my calls were disregarded and later proven to be accurate. Perhaps in a bull market, it’s a little different, as my bias will be bullish. However, if I were to put out what people want to hear there would be little accuracy and it wouldn’t be beneficial. Sometimes you have to take on the responsibility others refuse to. After all, it’s easy to come out guns blazing with bullish “stories” originating from a silver-tongued charlatan. The machinations of many influencers are often undetected due to their “positive” viewpoint.
**Is It Time?**
Looking back on my own analysis reveals that I had expected a bottom to strike for Crypto in September to November. My initial target of $18K was fairly accurate. However, the price action and events that followed motivated me to consider that my possible worse-case target of $12K to $13K was now quite probable. Once again, this was met with much skepticism and possibly still is. Many are now bearish because they have finally been convinced but now you have to remember what I said earlier. There comes a point where you simply cannot promote a bullish thesis. What this then results in is many influencers becoming bearish and you have the same dynamic in reverse. Now there is the chance that many are overly bearish. It’s very difficult to begin making decisive moves regarding the start of a possible trend reversal due to the macro backdrop. There is so much I need to expound upon but a blog post simply won’t be able to do it justice. This is why one should never place too much weight on a single publication.
**Confluence**
Anyone publishing analysis will be presenting a thesis over multiple publications and in order to accurately interpret the content, one needs to peruse earlier publications and gain a more comprehensive view. Confluence is always an essential aspect of effective trading. I believe we are entering a time that will be a good opportunity for accumulation. However, I am still awaiting further downside. The macro picture is very tricky at the moment and I am not yet convinced. I will keep readers updated. However, my viewpoints should never be considered investment advice. Thanks for the visit, see you next time.
Free hourly CAKE
https://freepancake.com/?ref=32537
IMF Seeks to Develop a Platform for International CBDC Transactions
**The Monetary and Capital Markets Department of the IMF’s director and division chief will soon release a document outlining a design for a platform to assist CBDC clearing and settlement transactions between various countries.**
How New Platforms and Tokens Might Enter Central Banks
There is no widely used network or asset to settle transactions. And building trust networks across borders is far more challenging. The lack of information across borders and the difficulty of pursuing legal action only serves to exacerbate the situation. The price of building trust is comparable.
The frustration of transferring money abroad has been felt by all of us. It demands time. It costs a lot. It is difficult. And for some, it’s awkward since our friends who know we’re economists frequently enquire about what goes on behind the scenes when in reality, we have no idea. Everything is disorganized.
Due to the expense of building and maintaining confidence and the dangers involved in granting a bilateral loan to another bank, banks are reluctant to shake numerous hands.
Few banks are able to afford these costs while still making money. Thus, the market for correspondent banking is dominated by a small number of extremely large institutions with solid bilateral ties. Our payments are expensive, slow, and mysterious, which is not surprising. https://crypto.news/imf-crypto-maturity-financial-stability-concerns/#:~:text=IMF%20Says%20Crypto%20Maturity%20Comes%20With%20Increased%20Financial%20Stability%20Concerns
Changes to Anticipate
As money becomes tokenized—that is, transferable to anybody with access to the same network and available to everyone with the correct private key—things could change.
For instance, Nigeria and The Bahamas have already launched the use of tokenization, and other nations are actively evaluating it. https://cryptobriefing.com/nigeria-rolls-out-africas-first-cbdc/
The necessity for two-way, trustworthy interactions is eliminated by tokenized money, which brings a fundamental change. Even when they have no direct connection to the issuer, anyone can own a token. https://crypto.news/nigerias-central-bank-targets-8-million-users-in-cbdc-drive/#:~:text=Nigeria%E2%80%99s%20Central%20Bank%20Targets%208%20Million%20Users%20in%20CBDC%20Drive
How the Changes May Improve Effectiveness
First, There is less risk. Processing a payment does not need the relevant bank to grant another bank unsecured credit. The bank will get a tokenized deposit from the receiving bank—a physical form of money—that can be sold on or even redeemed for tangible assets like government bonds. Trust will no longer be necessary.
Secondly, in contrast to an unsecured IOU, a bank will keep a liquid asset that it can quickly sell, trade, or hedge.
Thirdly, it can make the correspondent banks more competitive and also boosts service quality, speed, and lower costs. Any bank or financial institution that has a wallet compatible with it can accept payments from one bank and send payments to another bank.
A Web-based Platform
Coordinated handshakes are required. And the digital platform will have a role in this. The platform will disseminate orders for on-site payments, gather bids from users for correspondent banking services, and watch over punctual payments. https://crypto.news/which-cbdc-is-likely-to-be-the-first-to-be-launched-in-2022/
The platform concept develops further. And this might offer settlement services—the handshakes that transfer money from one owner to another—instead of just coordinating payments (providing clearing services, in industry parlance).
This also might have a huge impact. The platform’s ledger might be used to create “smart contracts,” which are essentially transactions that can be programmed. Auctions can be created to promote the use of expensive and frequently avoided currencies in international transactions.
There are countless options. And that is exactly the point— by creating smart contracts, the private sector would be able to expand the platform’s uses. By utilizing a common settlement platform and a common programming language to create interoperable smart contracts.
In the end, the platform would be close to public-private cooperation. Finding the appropriate governance structures and organizing enough central banks to make this happen will be difficult. With almost universal membership, the IMF is an ideal venue to look into these possibilities. https://www.imf.org/-/media/Files/Publications/Fandd/Article/2022/September/fd090122.ashx
E&S: AVAX, Blazingly Fast, Low Cost
In the last E&S article I introduced you Avalanche (AVAX) and I said that **Avalanche is a layer one blockchain, which can be used as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum's competitors and aims to replace Ethereum as the most popular smart contract blockchain. Its goal is to achieve this goal with a higher transaction output of up to 6,500 transactions per second without compromising scalability. Avalanche's unique architecture makes this possible.** https://www.publish0x.com/blockchain-insights/primexbt-review-the-multifaceted-exchange-xxyldrw
Now let’s see some features of Avalanche.
The functioning of Avalanche is based on a complex, yet well-organized internal structure.
One of the main strengths is the so-called consensus protocol, which gives the possibility of guaranteeing a higher level of security and protection, while at the same time maintaining rapid transactions and exchanges, without going outside the schemes of a decentralized project. Contrary to other networks and ecosystems, essentially based on standard procedures, which standardize the internal system, **Avalanche gives the possibility to structure solid applications, blockchain ad hoc, using specific adaptations for each individual project, purpose or use case**.
In addition to the creation of specific blockchains, it is possible to focus on two additional aspects:
**Creation of NFTs**: (No Fungible Tokens). This is simply the possibility to take advantage of Avalanche technology to create your own personal NFT, through a system that has recently undergone further simplifications. Inside the official page of the network, the organization exposes a real guide (complete with source codes) to be able to proceed step by step. The presence in an industry that is now strongly developed, is certainly an aspect to keep in mind.
**Creating different assets:** Fixed-Cap Assets (particular assets with a fixed amount) and Variable Cap Assets (where the amount is variable). Also in this case, there are complete guides step by step.
**What about AVAX token?**
