Covid-19 lockdown day 8 – Fiat evaporating so is Bitcoin our only hope?

Greetings fellow inmates on Prison Planet. Of course, not every one is in lockdown, or confined to house arrest, but many of us are, and many others are under threat of the “invisible enemy” of the virus. It could be anywhere, anyone could be an agent delivering it. Even you could have it asymptomatically. What a perfect way to lock down our minds as well as our bodies. With something that we don’t even know it’s real. The con is astounding.

This looks like this is the new norm as the old way of socializing may never return to normalcy. Not that life on earth was normal already even before the virus scare, but at least we thought we had our liberties – the right to free speech, the right to free association, freedom of movement, etc. Now I wonder if our right to privacy and all the above are on the chopping block as the NWO swoops in with its “trump” card to enslave us still further?

I don’t know and am simply reading various concerning references globally. I am probably also just getting restless and mental here under the shackles of house arrest. I know we can still drive to the shops for food, but I haven’t tried that yet in the past ten days. My mind has been scared off from associating with shop attendants and cash fiat currency as they are now prime suspects as conveyors of the virus.

The internet is patchy still and although I have enough mental stimulation from the internet, albeit not as decent as usual, it is still open, but the sluggishness of video and some sights, even our favorite blogging sites, leaves me frustrated. It is possibly more the lack of variety or opportunity to move freely that is leaving me restless. It must be hellish for those in urban areas or in apartments. And the stress of my imminent financial crash to zero bank balance is also a concern. It’s not a big concern, as there is food in my stockpile for this long haul lockdown, and I’m living month to month now as this all remains fluid and constantly changing, but life is not what it was last year. And may never be again.

I’m no sentimentalist and can adapt with change so I may just go for a stroll around the block, and then kick the block back under the bed. Or I may purvey the blockchain and observe my cryptocurrency earnings from blogging rise and fall. It has come to the point where my old source of income is gone, perhaps for good, and I now desperately rely on these very posts to earn me money for food and rent. Who could have seen it coming? Now I write not because I wish to express my creativity, or share information but because I am desperate to survive.

Thank the cryptosphere that this crypto blogging pastime and facility actually arrived into my life timeously enough to act as a fallback in this time of desperation. Initially I thought it was my get-rich-quick ticket, that I would write, earn crypto, and then watch it massively increase in value after the halving during the next bull market over the coming year or two. Now I’m looking at my severely depressed crypto price and stack and thinking – hey sell it now and buy food or rent this week. Forget the bull run, I can’t wait too much longer.

What a state of the nation, or state of the globe. And the Great Depression is only just beginning. I wonder which nations will crumble and fall off the map and which will redraw borders or take over global hegemony? There is very little certainty in anything at all any more, certainly not the financial world, or the stock market. And so with massive FUD and the “fear and greed” index at all time extreme levels, the financial markets simply don’t work any more. After all, they are mostly run on sentiment and steered by confidence. It’s a confidence game, a con game, the entire stock market. It’s a big speculation, a bubble, and it has burst. The second-hand stock salesmen are no longer able to punt their snake oil and so prices collapse to zero.

Now fortunately on one hand I have faith in the math of Bitcoin and the concept that after the coming “halving” in a month or two, the price should climb as the supply drops. But that is dependent on there being demand. And at present no one has fiat to invest in such a hugely speculative asset like Bitcoin. We are all clinging to cash in desperation, so that we can buy food this month. And as we hang on to our fiat, it slips through our fingers as it deflates in value day by day. Especially my third world South African ZAR currency. It’s in free fall now as Moodys has finally joined the other rating agencies and declared it junk status, below investment grade.

As a result international investors are no longer going to invest in this banana republic, and those that were here will pull out their investments if they are smart, and down will plunge the fiat even further. It has already surpassed historic lows in relation to the dollar, sitting below ZAR18/$1 (or R18 to the dollar). And it was R14 before this virus. So a massive drop in how much money I have left to spend on food, all by me doing nothing at all. That’s how we lose money, it gets taken from us by exchange rates and global circumstance. Better to invest it in Bitcoin at this rate, which is what I’ve done. And I will rather eat rice and lentils than sell my Bitcoin now. I will be at a loss, so it’s too early to sell. And Bitcoin is my last hope for a future with food and rent money. As long as Bitcoin does as it is mathematically designed to do – rise in price after the halving – then I have a chance at some profit and a chance to survive. It’s my last chance. So I HODL for dear life. Let’s see if the math plays out, or if even Bitcoin falls prey to this global Great Depression approaching us my the month. I’m either a massive fool or a magnificent genius. Oh well, nothing ventured...

What are your hopes for Bitcoin? Do you see it as your saving grace in the next bull run of 2021/2? Fiat is dead and gold is no longer physically available apparently, even if you wanted to buy it on the open market. And the prices of gold and silver are so suppressed and manipulated that it may maintain value but will never make you much profit it seems. Look at the stats over the years. So Bitcoin it is.

(image pixabay)