This year has been one hell of a whirlwind. We've seen increased insanity emanating from our political system here in the US. This is sure to continue as we drive full speed, headfirst into yet another shit show of a Presidential election.
The situation in Hong Kong seems to be temporarily simmering down after Carrie Lam pulled the controversial extradition bill from the floor. Finally giving in to the demands of passionate protesters who took to the streets over the Summer.
We've seen currencies like the Argentine peso and Turkish lira experience sudden, rapid devaluations.
Tensions with Iran have reentered the conversation as the US continues to attempt to economically hinder the country with sanctions.
The European banking system and economic union seem to be struggling as stock prices fall alongside their bond markets.
To top it all off, the amount of negative-yielding public debt continues growing, now at $17 TRILLION just as negative-yielding corporate debt follows suit hitting an all-time high of $1 TRILLION.
We're truly wading through unchartered territory. Pushing things closer and closer to their limits. (Maybe MMT is the TRUTH and there are no limits.)
As we turn into the Fall months and creep closer to the next decade of the twenty-first century, it will be interesting to see how the things mentioned above progress or further deteriorate. We here at Marty's Ƀent are hoping for peace, stability, and sanity around the world. Regardless of what happens in the outside world, we can take solace in the fact that the Bitcoin Network continues to draw in capital and mindshare.
In case some of you freaks didn't notice, the network hash rate reached an all-time high of 88 exahash per second two days ago. More than doubling the amount of computing power that was working to secure the network at the start of the year (42 EH/s) in just eight months. Incredible.
Slowly, surely and somewhat silently, Bitcoin continues chugging along. Growing stronger by the block.
As you freaks watch to see what happens in the outside world, make sure you pay attention to hash rate as well. Especially as more efficient and profitable miners begin to hit the market.
Good wine, steak, a brisk night and great company. Nothing better.