MINER Was Made for This Moment
In just the last week or so, we’ve seen dramatic news both in the cryptosphere – the fluid, changeable world of Bitcoin and cryptocurrencies – and in the state of the economy in the U.S., with the alarming inflation figures released for May 2021.
The Buying Power of Cash Is Being Diminished by the Day
Recently, Bitcoin had the bottom drop out overnight right down to around US$31K from an all-time high of close to $65K. Having taken more than a 50% hit, global crypto-holders were face-palming in despair. Coupled with ballooning inflation at its highest in 13 years, the buying power of people’s cash is being diminished by the day.
Affecting not only American pockets and accounts but now also those of people the world over, we’re all taking this thrashing as central banks, amongst other entities, have tied our world economies together.
MINER was made for this moment, and you’d be very wise to sign up now.
Here’s why.
All Markets Move in Cycles
When The Miner Network was founded 3 years ago, we knew the developing world of cryptocurrencies built on blockchain technology was the future of money.
We also knew it wouldn’t be all “up and to the right”.
(Full of change, volatility, and unpredictability, the world of cryptocurrencies is repeatedly referred to as The Wild West, after all.)
Markets move to the right as day turns to night, but not always up. If the most recent ‘correction’ is anything to go by, sometimes it moves dramatically down.
We knew that crypto purchasers would make a lot of money, but also that they’d experience great losses along the arduous (and often confusing) path of working out where to park and protect their profits.
You Need to Know When to Blow Your Candles Out
On market charts, there are green candles (price going up) and red candles (price going down). All’s right with the world when there are lots of green candles, but you need to know when to blow your candles out – before you get burned, lose your profits, and perhaps your capital too (if you get caught unawares in a big price dump like the recent one).
Frightening Losses for Crypto
This past week brought frightening losses for crypto, with Bitcoin dropping dramatically from a high of approximately US$64,500 to an alarming low around $31K, before begrudgingly inching back up again.
All this has been playing out in a matter of mere days…
“At 11 pm last night, while pretty much every exchange on the planet went down under the strain, the Bitcoin price crashed to US$30k, a correction of 54% from its April highs, before almost instantly rebounding to a slightly more palatable US$37k. Alts, to that point outperforming Bitcoin by a significant margin, were even harder hit, with many dropping 40-50% in a single hour.”
~ Coinjar blog: The Crash
It’s left the crypto market in a state of hypervigilance, wondering what’s coming next. Based on historical data, current predictions forecast gradual recovery, then growth, before an anticipated crash around September-October later this year. But in the meantime, many are wondering if they should have taken profits when the sun was shining on the marketplace.
U.S. Inflation – The Proverbial Writing Was on the Wall
We also entered into a new period of inflation in the U.S., caused by overstimulation of the economy (aka central banks’ money printing in the form of stimulus packages), and exacerbated by supply chain issues, job shortages, and—paradoxically—worker shortages, amongst other things.
Putting it simplistically to illustrate the general trend: because more money has been printed and people have more dollars to spend on the same sought-after item, coupled with limits as to where and how we can move (pandemic limits on travel, etc.), there are now more physical dollars available in our pockets for the same in-demand item.
A 10% Increase in Just One Month
Let’s take the example of used cars. A car that the market agreed was worth $10,000 last month is now, a month later, valued at $11,000. That’s a 10% increase in just one month because of the increased market demand for that product – as demand increases, the price is driven higher. Inflation (or perhaps more correctly, ‘devaluation’) is at work.
The proverbial writing was on the wall for some time, but it’s when we’re purchasing our groceries and noticing how much less our money buys at the check-out, that we notice it most.
The CPI Report of May 2021 (Consumer Price Index)
May’s U.S. CPI report and apparent jump to 4.2% inflation have economists wondering what is actually going on, with various theories in question.
All are related, however, to a general sense of pandemic “recovery”: returning to work and school, social issues including child-care, labour challenges and social security benefits, rising costs, and money printing.
“[The CPI is] the government’s effort to estimate what is happening with the prices that consumers pay… how much did prices rise in a given month.
“We saw much faster gains…4 times what economists were expecting.”
~ Ben Casselman, economics & business reporter for The New York Times
How Are We Feeling the Pinch?
This is how inflation appears in the economy, through the common goods and services urban consumers buy…
These are going up in price:
- Groceries
- Alcohol
- Fuel
- Restaurant meals
- Rental properties
- Homes
- Airfares
- Hotel stays & local short-term holiday rentals
- Car rentals
- Used cars (10% in one month)
- Lumber (wood) and home and garden supplies
This list is, obviously, not an exhaustive one. There are many more items whose price is increasing in our daily lives.
A Decline in Buying Power
We’re seeing a decline in buying power of the cash in our lives:
- The value of our savings accounts gets lower
- Workers with fixed incomes have less to spend
- Businesses whose incoming costs are rising rapidly are tightening their belts
Our Dollars Just Don’t Stretch as Far as They Used To
“Big picture: Inflation has risen sharply and it’s going to stay high for a while. Businesses still can’t get many vital supplies on time or at reasonable prices, and now the cost of labor is going up.
“Some economists contend the U.S. is on the verge of its worst bout of inflation in decades. They worry massive government stimulus payments are contributing to the problem…“
U.S. people will be especially hard hit because while the Consumer Price Index (CPI) includes sales tax, it does not include income tax or Social Security contributions.
This makes the index a far less-than-accurate gauge of real costs to the consumer.
The CPI represents changes in prices of all goods and services purchased for consumption by urban households. User fees (such as water and sewer service) and sales and excise taxes paid by the consumer are also included. Income taxes and investment items (like stocks, bonds, and life insurance) are not included.
People are Desperate to Protect Themselves from Further Loss
The average person on the street is not only going to have their dollars devalued by inflation, so that their dollar buys less, but will also be subject to taxation and other measures which scoop profits and whisk away their wealth.
Turn to MINER in Times of Turbulence
We created MINER so that crypto-users and gold-hedge-lovers would have a safe place to put their wealth in times of turbulence, greatly reducing volatility and exposure to loss, especially over the long term.
MINER is an ERC-20 token built on the Ethereum blockchain.
Each MINER token represents one averaged minute of productivity from our approved, managed, in-network gold mines. These mines have been successfully producing gold for years, enabling accurate and consistent productivity metrics and creating a solid baseline for value.
MINER tokens can be:
- acquired through The Miner Network,
- retained, as a safe and dependable store of value,
- redeemed for the service of gold mining and delivery of 24 karat gold bars
- exchanged for other cryptocurrencies like Bitcoin (BTC) and Ether (ETH).
MINER Token holders have the unique flexibility to hold their digital assets (redeemable for mining service minutes) for as long as they so choose, ultimately resulting in personal property (aka home delivery of 24-karat physical gold).
In this way, the MINER approach simultaneously stabilises the value of the token for the holder, while promoting ecologically and socially responsible gold mining operations.
Read these MINER blogs for more on the subject:
Old Hedge & New Hedge Come Together
Why MINER Is the Most Flexible Crypto Asset for Long-Term Wealth
Grab your free download:
Where Is the Smart Money in a Global Economic Bubble?
What to do next?
MINER Launch Phase 1 (Soft Launch) is completely sold out!
Become a member – that way you’ll be notified about Main Launch, happening soon.
~ Cameron V. Peebles & Abheeti Kathryn Pass
