core

In this post: Justin Bones compares bitcoin to an emperor with no clothes and calls it fool's gold.

Mr. Bones also argues that tokens no longer provide performance, scarcity, censorship resistance or long-term security. He predicts that digital
Justin Bones, founder and chief investment officer of Cyber Capital, warned against investing in #bitcoin , calling it fool's gold In a detailed post on
X. In the post, Bones calls bitcoin an emperor with no clothes rather than a meme coin, and warns traders against taking #BTC investments seriously.
Bones believes that BTC has lost all its attractive qualities and will not last long. He argues that without capacity, scarcity, privacy, #DeFi and long-term security, the asset doesn't have a leg to stand on.
He also argues that bitcoin's other impressive qualities, such as censorship resistance, immutability, financial sovereignty and decentralization, have long been lost, and only other emerging assets have pioneered.
He further noted that: BTC was actually taken over by a relatively small group of people who managed to completely undermine the purpose, vision, and #core design of BTC. This did not happen without a fight. This story is now known as the block size debate, which culminated in 2017 with the victory of Bitcoin Core and the defeat of bitcoin.
He believes that one group is still in control of BTC, and unfortunately, traders are still unaware of the real state of affairs of the token. He believes that traders do not know what the tokens really represent. He further compared the current governance of BTC to the Github dictatorship and stated that unlike Satoshi's wishes, Core is preventing BTC from expanding its future mandate.
He further argued that bitcoin is currently only capable of about seven transactions per second and cannot be used for anything vital. He stated.

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Core PPI inflation jumped to 5.0%, the highest level since 2022.The core PPI reached 3.0% and has risen in four of the last five months.

rising inflation could increase interest in #cryptocurrencies as a safe investment.
Recent data suggests that inflation in the US may be on the rise again. According to new data, the Producer Price Index (PPI) rose to levels not seen in 15 years. If inflation starts to rise again, it could impact various financial markets, including cryptocurrencies.
The #core Producer Price Index (PPI) jumped to 5.0% in June, the highest level since 2022. This is a sharp increase, more than doubling in just six months. This inflation rate is higher than at any time in the past 15 years, except for the sharp increases seen in 2021 and 2022.
June, core PPI inflation (three-month annualized rate) jumped to 5.0%, the highest rate since 2022. This is the highest rate since 2022.
It is also higher than at any time in the past 15 years, except for 2021 and 2022.
Overall, core PPI inflation was 3.0% in June, reflecting a steady upward trend in four of the past five months. This increase indicates that inflationary pressures remain strong, even though several other inflation indicators are showing declines.
the Consumer Price Index (CPI), which reflects inflation at the consumer level, declined, while the core price index continues to rise. On the other hand, this difference indicates ongoing inflationary risks that need to be addressed.
the rise in the core price index could have several implications for the #cryptocurrency market. Historically, people have turned to cryptocurrencies like #BTC and #BTC as a way to protect their investments from inflation. When inflation rises, more investors buy cryptocurrencies, leading to higher cryptocurrency prices.
But rising inflation often leads to higher interest rates and tighter monetary policy.

Read us at: Compass Investments