Bitcoiners,

How many banks have to fail before the American public realizes that errant monetary policy has broken the fiat system beyond repair?

Americans are waking up to this fact, but not soon enough. As economist Judy Shelton noted today in the NY Sun,

A survey of American adults conducted between March 13 and March 19 by the Pew Research Center sought opinions on 16 federal agencies... The survey disclosed mixed views of the Federal Reserve — with 43 percent having a favorable opinion, 37 percent unfavorable, and 20 percent unsure. Only the IRS ranked lower in popularity.

In other words, the only agency less popular than the Fed is the one in charge of taxation – something no one enjoys.

With more banks failing weekly, our monetary brain trust faces a choice: reverse rate hikes and destroy the dollar, or maintain the status quo and stomach massive bank failures. If history is a guide, they will protect the banking system at the dollar's expense.

If you're looking for protection, we've got you covered. Bitcoin is a hard money solution for storing wealth outside the melting fiat system.

NEWS

Banking dominos continue to fall

Following the FDIC's takeover and sale of First Republic to JP Morgan, PacWest Bancorp's future is uncertain and its share price continues to fall.

PacWest has confirmed exploring strategic asset sales, including a possible sale. Reporters also claimed Western Alliance is looking into a sale, although the bank stated those claims are false.

Underlying conditions:

The KBW regional bank index is down 5% today, its lowest since September 2020. All eyes are on the Fed to see if it changes course on interest rate policy, sacrificing the dollar to prop up the banking system. 

Biden wants to party like it's 2008

Under direction from the Biden administration, the Federal Housing Finance Agency (FHFA), which regulates and supervises Fannie Mae and Freddie Mac, announced a new policy requiring mortgage borrowers with good credit to pay higher fees, allowing borrowers with lower credit scores to borrow at lower costs than their credit rating would typically allow.

Breaking it down:

The attack on financial prudence aside, the new policy will push individuals to acquire larger mortgages than they could otherwise afford. Government programs neglecting that buyers must have the necessary funds to cover expenses risk creating another housing bubble.

Treasury's clock is ticking

As the United States hurtles toward a default, Janet Yellen contacted Congress, imploring leaders to raise the debt ceiling before June 1st. A key contributor to Yellen's concerns is lower than-anticipated tax receipts. 

Regarding the debt-ceiling, congressional leaders are at an impasse. The GOP-led House demands budget cuts, and the Democrat-led Senate and President Biden have stated they won't play ball. 

Looking back:

History suggests this is partisan theater, and both parties will eventually acquiesce and raise the debt ceiling to keep the charade going.

BITCOIN ADOPTION CONTINUES

Michael Saylor debuts a new MicroStrategy product, a Lightning Rewards Platform for customers or employees, stating it is being integrated internally with major corporations such as Salesforce, Zoom, Adobe, and MoveSpring. 

Bitcoin Talent Co. and Summer of Bitcoin announce a partnership, launching the Summer 2023 Bitcoin Industry Apprenticeship (BIA) Program for college students in North America and Europe.

Fedi, a bitcoin company building technology using bitcoin and fedimint, raises $17 million in a Series A round led by Ego Death Capital.

Neutronpay launches a bitcoin lightning app in Canada, partnering with Ditobanx for global remittances. 

Mawson Infrastructure Group Inc. (Mawson) signs an agreement to launch a new bitcoin mining site in Corning, Ohio.

Bitcoin Magazine announces a host of global political leaders will speak at its Bitcoin 2023 Conference.

HOW BITCOIN WORKS

Learn one key idea about bitcoin each week. This week: 

Bitcoin is reclamation.

Gen Z, or "Zoomers," aged between 9 and 24 comprise about 68 million U.S. citizens. Surveys show they believe previous generations stole their future. Rightly so. 

But actually, only the Zoomer's fiat future has been stolen. Bitcoin is the way back – a path to reclaim what was lost.

Commonly called the loneliest generation, Gen Z has been betrayed on a massive scale, a result of a collective failure of the stewards of our culture and economy to make sacrifices so that the next generation could thrive.

In a vicious play, the powers that be have convinced Gen Z that the future is a dismal hellscape of cheap entertainment, surveillance, injustice, and environmental catastrophe. The result? The loneliest generation experiences unprecedented rates of suicide, depression, mental illness, feelings of isolation, anxiety, and lack of meaning. 

But it won't be this way forever. Technology tilts at the state, and Gen Z has the opportunity to take advantage of one of the most powerful technological revolutions the world has ever seen, leveling the playing field. 

Bitcoin's monetary renaissance will brighten a generation's future that once seemed so dark. Gen Z's adoption of the technology will restore the balance of power between citizen and state, allowing the lonely, battered generation to realize their true potential. 

Ready to get started with bitcoin? Coinbits is the best option. It's fast, safe, and free to create your account.

COIN CHECK

Approximately how many transactions per second can the bitcoin blockchain process?

1. Millions of transactions

2. 7-10 transactions

3. Infinite transactions

4. 21 million transactions

Check your answer at the end of the page.

FROM THE MEME POOL

BITCOIN ROUNDUP PODCAST

If you love our newsletter, you’ll love our podcast, too.

ANSWER

2. 7-10 transactions.

   The bitcoin blockchain can process approximately 7-10 transactions per second. This means that additional layers, commonly called "Layer 2" such as the Lightning and Liquid networks, are necessary for scaling bitcoin into a global payments network. These layers are already developed and rapidly expanding, enabling greater adoption.

Was this email forwarded to you? Sign up here.