SALtoshi Whitepaper #94

Fellow humans,

A major benefit of decentralization is the absence of a single point of failure. Bitcoin was designed to operate in a decentralized manner, which implies and results in maximum network uptime. You will rarely (if ever) learn about the Bitcoin network going down. Decentralization equals reliability.

Facebook, on the other hand; a centralized network with exactly one point of failure. All companies are centralized in some way or another. Zuckerberg and his crew flipped the switch yesterday, shutting down Facebook, Instagram, and WhatsApp for billions of people. I have no idea why, but was instantly cut off from communicating with some of my friends.

Probably something political.

Concentrated powers are great for scaling quickly, offering a lot of features, and making quick decisions. Concentrated powers are great for many things. They’re great, until they’re not. This is what happens when we don’t have to pay to play. When something is free, we’re the product.

We shouldn’t put so much trust and responsibility with small groups of people. Power and responsibility should be more distributed and transparent throughout society. The catholic church should have taught us this lesson decades ago. Human nature plus too much power equals corruption, no matter who we are. Remember, all of us are dysfunctional in one way or another.

Yet here we are, still allowing elites to control most of society. We need more individual responsibility. We need more people who care enough to go against the grain of tradition. Just because we’ve been doing things a certain way, doesn’t mean we should continue. For those who get their regular dose of Bitcoin information from me and me only, the buck stops here.

A man can lead a horse to water, but cannot make the horse drink.

Below is a list of some Bitcoin resources for you to dig into. I’ve learned from every one of them, and I’m confident you will gain a better understanding if you choose. Feel free to start digging now, or simply bookmark this email for future reference. Your choice. Regardless, I don’t want to be the only person telling you how important Bitcoin is for you.

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Also, some exciting updates for you:

  • Imani Carter won the Anniversary Contest! Her prediction was $52,219. The price of bitcoin on Sunday at 2PM EST was $48,900. You can see all of the predictions here. She said she will hold her bitcoin, instead of selling. Wise choice, Imani.

  • NFTs have arrived to Bitcoin via Stacks! Not that I care much about NFTs, but many people said innovation and Bitcoin are estranged. I’m a bit excited now, mostly because many people were wrong. They will continue being wrong.

I want to run another contest for the next couple of months, and give away the prize in December. Not sure what the competition will be, but I’ll let you choose the prize. Then, we’ll do some backwards planning to choose the competition.

Click here to vote for which prize should be given away next. Feel free to let me know if you have ideas for what the next contest should be. If nothing else, we can always try to predict the price of bitcoin again!

Final notes for today; bitcoin is fighting with $50k again, AKA $50k is resistance. Remember when $30k was resistance, and then became support? Remember when $40k was resistance, and then became support?

Well, now $50k is resistance, and will soon become support in my opinion. Most people naturally want to focus on the market highs. We should pay a little more attention to the lows, because bitcoin has been consistently setting higher lows since 2009.

Until next time,

Salvatore Norge

P.S. — I’m at the orthodontist right now, hopefully getting this metal out of my mouth! Got braces in May of 2019, and was told 18 months. Here I am, still rockin’ adult braces 29 months later…