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Bitcoin’s Carnivore Cult Is Both Stupid and Correct

Do Bitcoin fans gravitate toward steak so often because they view themselves as cowboys, or because they’re just health-conscious?

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This entire article is Saifedean’s fault. 

Saifedean Ammous, author of “The Bitcoin Standard,” kept heaping steak tartare onto my plate at a Bitcoin meetup back in August 2018, in between jokes about liberal plebs.  

As the youngest woman in the room, per usual, I wanted acceptance from the Bitcoin clan. Despite nearly a decade of (fickle) vegetarianism, I accepted the author’s meat offerings in exchange for an off-the-record interview. I torpedoed questions his way between bites. Ammous told me last week, via direct message, that he couldn’t remember if that was his first public steak dinner. But there would be many that followed.

Long before he became a bitcoiner, Ammous was a carnivore.

“I was, independently, into low-carb keto,” he said, referring to ketogenic diets. “These two things started to merge together more and more as people who were interested in Austrian economics became interested in meat and good food.”

Over the past decade, bitcoin-themed steak dinners have become a global ritual, hosted by communities from San Francisco to Tokyo. It was the Kraken exchange’s Bitcoin evangelist Pierre Rochard who organized most of Ammous’ steak-and-bitcoin dinners in New York, inviting friends from the Socratic Seminar meetup. This was all pre-COVID, of course. (These days, there are a few outdoor gatherings at beaches and parks.)  

“I was traveling to the U.S. and Pierre told me to stop by in New York and he’d organize a dinner for me. Then 70 people showed up,” Ammous said. “After that, everyone on Twitter was constantly asking, and demanding, their own steak dinner in their own hometown.”

Becoming a Bitcoin-carnivore evangelist

Since then, Ammous organized Bitcoin-themed dinners in more than a dozen cities, including Hong Kong, Amman, Beirut, London, Madrid and Milan. Meanwhile, hundreds of Bitcoin fans routinely post meaty food porn via Twitter and Telegram groups like “Citadel Chefs.”  Like Ammous, they often profess they naturally found this a hobbyist combination, rather than following a demographic trend. As Crypto Twitter icon @cryptomedici wrote: “I don’t follow the chad lifestyle, the chad lifestyle follows me.”

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Ammous is among the most famous carnivore evangelists tweeting hot pics of fatty steaks, his version of thirst traps. In fact, the prolific economist penned a manifesto for grilling steak to “beat fiat food,” equating empty carb calories with inflationary government-issued money. 

The (tongue-in-cheek) narrative says bitcoiners like Ammous will simply avoid the impending collapse of Western civilization by re-inventing feudalism, as lords of private “citadel” meat-lockers paid for with the world’s “hardest” money. Loving meat is a part of some bitcoiners’ shtick, along with hating journalists and socialism. Memes and jokes abound comparing “Soy Boy” or vegan token fans to hyper-masculine bitcoiners.

“It’s very masculine to grill. In the Wild West, the cowboys are always seen having this massive steak,” nutritionist Lorraine Kearney said in a phone interview. “Especially if they’re trying to lift weights and bulk up, it’s always about eating more protein.”

Back in 2018, I told Ammous I’d try carnivory, if only to gloat when my body didn’t magically transform into a lean, mean hodling machine. To my great dismay, two weeks of a 90% meat diet left me feeling stronger, more energetic and less emotionally volatile than I’d ever been. By the third week I stopped craving sweets and my doctor noticed a significant improvement in my health, compared to my last annual physical.

As it turns out, I’m hardly the first liberal woman to fall in love with both bitcoin and grilled flesh. To the contrary, author Amber O’Hearn was one of the most influential authors in the early days of crypto-carnivory. She’s been writing about her keto diet experiments for nearly a decade.

“I’m off all medications,” O’Hearn said, describing how this diet helped after her bipolar diagnosis. “I’ve never had symptoms of the mood disorder again.”

Read more: The Bitcoiners Who Live ‘Permanently Not There’

Like any crypto trend, believers can seem quite fanatic. Zcash co-founder Zooko Wilcox even tweeted that keto diets can help treat cancer. (Wilcox and O’Hearn were once married, but have since continued their meat evangelism separately.) 

On the other hand, Kearney said high amounts of fat can contribute to issues like heart disease. Bitcoin-carnivores often dismiss this warning as “fake news” by the media-fiat-food-industrial complex, hell-bent on brainwashing the masses. Of course, every citadel-dwelling hero needs a “mainstream elite” villain to foil his own righteousness. However, the reality of carnivore diets may be more nuanced.

Plant-eaters clap back

Kearney agreed with O’Hearn, broadly speaking, that high-protein diets can be very healthy and every person’s body is different.

The nutritionist said she’s known clients who feel amazing after years of only eating animal protein, while others prefer low-carb diets with diverse plants. She added that grass-fed meat has many more nutrients, so results may depend on the quality of the ingredients.

“The carnivore diet has been around for a number of years. But the research will take a decade, if not longer, to provide the benefits of such diets,” Kearney said. “When people remove inflammatory, highly processed foods and introduce a more natural diet, like with meat, they’ll see results like a decrease in weight gain and bloating, less fatigue and better gut health.”

There may also be some truth to the bitcoiner mantra that established norms were based on inaccurate science. Kearney said the past four decades saw a “massive shift” among nutritionists.

“Some of the products they used to recommend were processed foods … it was all about restricting calories,” Kearney said. “Now it’s more about focusing on balance and understanding the psychological aspects as well.”

Read more: They Biked, Ran and Swam Over 200 Miles Across Europe – All for Bitcoin

There are also plenty of vegan bitcoiners, from Bitcoin Core developer Matt Corrallo to Lightning Labs CEO Elizabeth Stark.

“Bitcoin doesn’t care what you eat,” Stark said in a direct message.

The steak-loving author of “Bitcoin: Sovereignty Through Mathematics,” Knut Svanholm, agreed with Stark.

“I believe that we should probably leave diets out of any Bitcoin discussion,” Svanholm said. “It tends to be a bit silly and people are semi-religious when it comes to food preferences.”

Thanksgiving feasts

Meanwhile, Wilcox and O’Hearn are among many bitcoin aficionados who ate a predominately meat dinner for Thanksgiving 2020.

“I like fatty steak, roast beef, ground beef and bacon more than turkey. And that’s even more true on Thanksgiving, which is a celebration of plentitude and togetherness,” Wilcox said in a direct message.

For a festive twist on the holiday classics, O’Hearn combined turkey with a keto-friendly stuffing.

“Sausage stuffing with ground pork and pork rinds, to help absorb the fat the way bread does in a stuffing,” O’Hearn said over the phone, describing the menu. “I also eat eggs and dairy without having too much of a problem. So for holidays I might have eggnog.”

It was O’Hearn who convinced me that bitcoiners’ meat fetish isn’t primarily the result of loud men’s testosterone-induced, Freudian fixations.

“There are these ideals about what a woman ‘should be’ that dissuade women from taking pleasure in their bodies and being physical. Meat is connected to that,” O’Hearn said, contradicting the diet’s stereotype. “Meat is sexy and carnal … plus, one of my primary roles as a mother is to nourish my children, inside my body, next through breast-feeding and then preparing their food and nutrients.”

Read more: Gender and Income: Binance US and Stellar CEOs Debunk Myths for International Women’s Day

Like so many bitcoiners who ate Thanksgiving dinner with their families, O’Hearn said she was grateful for her healthy family. As for myself, I ate plenty of plants this holiday, despite knowing lean protein makes me feel better than pecan pie. Rather than travel to family, I joined an outdoor gathering of bitcoiners for turkey, my first friendsgiving as part of the clan. I no longer felt like an outsider, nor was I the sole young woman. But I did bring my own rosé, because we all know the bitcoin cowboys will only bring beer and whiskey.

It may be precisely because of our differences, instead of despite them, that we were so grateful to gather with diverse friends contributing, in our own ways, to the first open-source, digital money. Especially during the pandemic, we’re thankful to be a part of an economic shift that just might manage to outlive our BBQ-slathered grills and little stone castles.

Source: https://www.coindesk.com/bitcoin-carnivore-cult-both-stupid-and-correct

Blockchain

Bitcoin: Has the bull market faded?

2021 has proven itself to be quite a promising year for Bitcoin, with its price action on the charts enabling it to register new ATHs. However, over the past 7 days, the bullish momentum has faded, wi

The post Bitcoin: Has the bull market faded? appeared first on AMBCrypto.

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2021 has proven itself to be quite a promising year for Bitcoin, with its price action on the charts enabling it to register new ATHs. However, over the past 7 days, the bullish momentum has faded, with Bitcoin retracing all way from around $41k to where it stood at press time ($32,600).

However, does the reversal signal the end of the bull run or the start of a wider scale correction akin to what happened in January 2018? Or, as most traders would have it, is Bitcoin’s price finally stabilizing above its previous ATH and maintaining much of the gains it raked up since December 2020?

Source: Santiment

Interestingly, Bitcoin’s social volume metric can help elaborate on what happened, with the world’s largest cryptocurrency enduring a price correction amounting to close to 10 percent.

Santiment’s data showed that as Bitcoin fell to $31.1k, its social volume – a metric that helps traders determine the market sentiment and where the price will head in the short-term – increased and registered a 6-day high. Given the increased demand for Bitcoin over the past few months, from both retail and institutions, it wasn’t much of a surprise that many saw the dip in price as an interesting buying opportunity.

Source: Santiment

On the other hand, there have been certain caveats to Bitcoin’s positive sentiment. What was noticed according to the data provider was that there was a sudden surge in negative commentary around Bitcoin. While a major share of the market seemed to have its faith in Bitcoin unshaken, Santiment’s data also hinted at the fact that a bigger price correction cannot be overlooked for the king coin. While it is unlikely that a drop to its November 2020 valuation is going to happen, a further dip that takes Bitcoin’s price below $30k cannot be discounted.

However, there are still strong bullish signs that one needs to consider before coming to any substantial conclusions regarding Bitcoin’s fortunes in the coming weeks and months.

Hodlers have traditionally played a key role when it comes to Bitcoin maintaining its price and securing significant returns for its investors. According to Glassnode’s Liquid Supply Change charts for Bitcoin, the crypto’s price continues to be fairly secure, with the same revealing that a large-scale dip on the charts looked quite unlikely.

Source: Glassnode

According to the data provided, Bitcoin is seeing the largest depletion of liquidity in a few years, with a majority of the Bitcoin being moved from exchanges into non-exchange entities that are to be hodled for long periods of time. This is a very important aspect of Bitcoin’s 2021 price action and can back up the argument that Bitcoin’s price is going to hold its ground without losing much to the bears in the coming weeks.

In the past month alone, a whopping 270,000 Bitcoins have moved to entities considered HODLers. With the backing of large accounts that continue to hodl, Bitcoin may see occasional dips and corrections, but the bullish market momentum is likely to remain and help stabilize the coin’s price.

Source: https://ambcrypto.com/bitcoin-has-the-bull-market-faded

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Blockchain

BTC Price Will Replace S&P 500: Michael Saylor

Michael Saylor, Bitcoin bull and MicroStrategy CEO, spoke on CNBC’s Power Lunch about the future of bitcoin. MicroStrategy just bought $10 million worth of the digital currency, and he was asked about the future of bitcoin. After BTC Replaces Gold As a ‘technically superior asset’, Michael Saylor noted, BTC is the ideal institutional safe haven … Continued

The post BTC Price Will Replace S&P 500: Michael Saylor appeared first on BeInCrypto.

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Michael Saylor sees bitcoin, the ideal institutional safe haven asset, replacing stock indices.

Michael Saylor, Bitcoin bull and MicroStrategy CEO, spoke on CNBC’s Power Lunch about the future of bitcoin. MicroStrategy just bought $10 million worth of the digital currency, and he was asked about the future of bitcoin.

After BTC Replaces Gold

As a ‘technically superior asset’, Michael Saylor noted, BTC is the ideal institutional safe haven asset. He sees it as replacing gold.

Besides Saylor, Deutsche Bank, JPMorgan, Blackrock, and others see BTC as affecting the gold price or replacing gold as an asset. However, Saylor took his prognosis a step further and said that BTC could replace stock indices such as the S&P 500 or the Dow. Cash-rich corporations are “saying that cash is a liability; they have to find an asset that’s going to appreciate faster than the rate of monetary expansion.”

After that occurs, bitcoin will find itself even further integrated into the business world. It will become the monetary index that replaces stock and bond indices such as the S&P 500 and the Dow. “People that want a safe haven store of value…for the next 10 to 30 years are going to be attracted to a digital asset that has no inflation in it.”

People that want a safe haven store of value…for the next 10 to 30 years are going to be attracted to a digital asset that has no inflation in it.

70,784 BTC, +/-

Saylor’s CNBC interview came as MicroStrategy announced that it had bought another 10,000. This takes the company’s total bitcoin holdings in its reserves to about 70,784 BTC. MicroStrategy bought this latest round of 314 bitcoin at an average of $31,808 per coin. 

An IT company with a twist

MicroStrategy is still a business intelligence and professional services company. However, Saylor and his team use bitcoin as a store of value for an increasing portion of the corporation’s treasury. As CNBC notes, this results in the company’s stock price tracking bitcoin’s. “It’s almost become a stock market proxy for crypto,” said host Morgan L Brennan.

When Brennan asked Saylor about this, he noted that because companies want to convert the liability of cash into an asset, they will do one of two things. Many will do what MicroStrategy has done. They will directly purchase bitcoin. Others will go the route of Square and Paypal, and will build bitcoin into their product offerings.

Moreover, Saylor noted that the company’s employees are “pretty delighted” with the company’s moves, as they are “pioneers” in terms of utilizing this technology.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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James Hydzik is a finance and technology writer and editor based in Kyiv, Ukraine. He is especially interested in the development of regulation in the face of increasingly rapid technological change. He previously covered the CEE region for Financial Times banking and FDI magazines. An ardent believer in gut renovating eastern Europe one flat at a time, he currently holds more home renovation gear than crypto.

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Source: https://beincrypto.com/__trashed-4/

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Futuristicx Hybrid Conclave: Driving Customer Experience through Technologies

The Middle East currently is the biggest digital hub with a massive technological transformation taking place. In the past one decade the Middle Eastern market has completely migrated its infrastructure to a digital platform. The current pandemic has enabled a forced acceleration in technological development to better serve the customer and meet their ever-changing expectations. … Continued

The post Futuristicx Hybrid Conclave: Driving Customer Experience through Technologies appeared first on BeInCrypto.

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The Middle East currently is the biggest digital hub with a massive technological transformation taking place. In the past one decade the Middle Eastern market has completely migrated its infrastructure to a digital platform.

The current pandemic has enabled a forced acceleration in technological development to better serve the customer and meet their ever-changing expectations. In today’s time, consumer loyalty has shifted from product and price to customer experience.

It has become imperative for the organization to re-align its strategies to retain the customers. Companies are re-modeling their legacy systems to provide a better customer journey and build tailor made solutions available with a single click for their consumers.

Considering all these parameters in the region, Exibex is proudly announcing the launch of Futuristicx Hybrid Conclave 2021 scheduled on 16th March 2021 on a hybrid platform. Themed on driving customer experience through disruptive technologies, this event will be hosted on-site for a live audience (Conrad Hotel, Dubai) and on a virtual platform simultaneously.

This summit will be focusing on technologies like RPA, Analytics, AI, Blockchain, Robotics, Cloud, and Automations that are being adopted to drive customer excellence in the cross-industry domain.

The aim of the summit is to help the industries learn and share their experiences when it comes to enlightening the path to the right customer journey approach.

Join us at this HYBRID SUMMIT either on site from the comfort of your home/office to indulge yourselves in thought provoking presentations and interactive panel discussions by the industry wizards. Keeping in the consideration of the present market situations, we are bringing one of its kind experiences to reconnect the industry while following necessary norms of your safety.

Futuristicx Hybrid Conclave is a platform created to bring all the stakeholders under one roof yet again and embrace the new normal. This is a stage to better prepare ourselves for the unpredictable future and safeguard our organization from the unknown challenges on our way.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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The opinion of BeInCrypto staff in a single voice.

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Source: https://beincrypto.com/futuristicx-hybrid-conclave-driving-customer-experience-through-technologies/

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Blockchain

Buying the Bitcoin Dip: MicroStrategy Scoops $10M Worth of BTC Following $7K Daily Crash

Michael Saylor’s MicroStrategy continues to scoop up BTC whenever they seem to get the chance. The company has just bought another $10 million following the most recent price crash.

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Michael Saylor’s Bitcoin bet appears to be far from over as his company MicroStrategy has acquired even more BTC despite the crypto price experiencing a significant retrace over the last couple of days.

  • MicroStrategy has added more Bitcoin to its balance sheet according to an announcement issued on Friday (Jan. 22, 2021).
  • The business intelligence firm has acquired 314 BTC for $10 million increasing its Bitcoin holdings to over 70,784 “coins.”
  • MicroStrategy’s announcement also revealed that it bought its BTC lump at a price of about $31,808 per coin.
  • The company began buying BTC back in August 2020, after making a bitcoin purchase worth $250 million. Since its initial purchase, the company has since been on a bitcoin buying spree, even raising more than $650 million in debt for another BTC purchase.
  • At the time, MicroStrategy CEO Michael Saylor described Bitcoin as a viable hedge against monetary debasement.
  • Since its first Bitcoin purchase announcement, the company’s stock price has risen more than 320%.Indeed, MicroStrategy’s pivot to Bitcoin seemed to trigger a herd of institutional adopters who added the largest crypto by market capitalization to their balance sheets.
  • Other publicly-listed firms including asset managers and insurance companies have also bought Bitcoin. Companies like Ruffer Investment bought about $750 million worth of BTC.
  • As of the time of writing, Bitcoin appears to be recovering from a 30% slump that its price below $30,000 for the first time since Jan. 4.
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Source: https://cryptopotato.com/buying-the-bitcoin-dip-microstrategy-scoops-10m-worth-of-btc-following-7k-daily-crash/

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