Quote of the Day

“If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem.”

― J. Paul Getty

The U.S. National Debt is over $28 Trillion today. That’s over $85,000 for EVERY person in America.

What’s even worse is the debt doesn’t include unfunded liabilities such as Social Security or Medicare which, according to one source I just found, amount to over $125 Trillion!!!

There is absolutely NO WAY that today’s children of America will be able to generate enough taxes to pay all of this off.

The financial situation of the world is everyone’s problem now. It’s almost time where the majority of sane people find fiat currencies even riskier than crypto.

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In The News

1. The Biden Administration is reportedly considering executive action on cryptocurrencies including the possibility of appointing a Crypto Czar.

2. The SEC approved an ETF that will hold companies with exposure to Bitcoin. While not the Bitcoin ETF that many are waiting for, it is a step in that direction.

Cardano Updates

1. Charles is back from his Wyoming rest and ready for his upcoming Africa trip!

   Charles Hoskinson @IOHK_Charles

   Just got back from Wyoming and I'm ready for this upcoming week. Heading to Africa soon- starting in South Africa all the way up to Egypt. Let's go change the world together

   

   October 10th 2021

   292 Retweets2,636 Likes

2. The much anticipated Space Budz marketplace with smart contracts is live! This was months in the making and is a reminder that Cardano smart contract adoption is happening every day whether you see it or not.

Technical Analysis / Price Discussion

Cardano ADA continues some fairly uneventful price action. Nothing super exciting or scary at the moment.

I’m always looking for fractals or patterns that may repeat themselves. The while pattern on the left is what happens when the last short-term resistance was breached and the copy of it on the right shows one possibility.

Interestingly, it shown ADA following the long-term uptrend until mid-October, and then a break and test of $2.47 followed by a strong move higher.

This would correspond with a strong move higher in October like myself and many others expect. Looking forward to seeing if it plays out like this or not.

This newsletter is for entertainment and educational purposes. I’m not a financial advisor and you should do your own research and consult a financial advisor before investing in cryptocurrencies.

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