Of Twinkies And Litecoins
Parent company of Twinkies and other junk food snacks sold for an amount that's more than $1 billion in excess the total market capitalization of Litecoin (LTC), the second crypto to fair launch.
As I write this, the total market capitalization of all Litecoin in existence/mined is about US $4.4 billion.
It came out in headlines that Hostess, maker of dubious snacks such as Twinkies, is being acquired for $5.6 billion by peanut butter and jelly (jellies?) manufacturing giant J.M. Smucker.
A junk food brand was bought for more than a billion dollars more… by a grape jelly titan… and people dare say that cryptocurrency land is in a “bubble.”
No, this is our depression, and we’re about to see it on through.
I went to a coin shop earlier today and sold some of my long-saved investment silver.
My plan is to plow the proceeds into Litecoin.
You can get Litecoin in the Robinhood app, through the PayPal app, Coinbase, Binance, and Winklevii-run Gemini.
As I’ve long stated, the issue with precious metals is that there is no native payment network. You can’t take your silver or gold to the mall — the gold might impress someone at the next Ren Fair, but beyond that it has very limited “spendability.”
Nor can you really do P2P payments with precious metals; without proper testing and such, you’ll be swindled more often than not. Crypto offers people a way to do peer to peer payments without needing burdensome security guards or gold testing laboratory gear, etc.
The relative volume published by Bitpay recently shows that Litecoin is being used by the public a lot for payments, if not P2P payments. This is a big green flag, to me at least. A cryptocurrency actually being used as a cryptocurrency, in the everyday online world.
Especially with rising use and legitimacy in Asia, the crypto doomers in DC have already lost the rapidly concluding information war.
Crypto will remain tolerated in the West, if not completely legal everywhere, in my view. Given how bad Biden has been toward crypto, we also stand only to benefit from the next administration, no matter who it is.
Has this nearly been a two and a half year bear market for crypto as a whole?
The simulation is overdue to throw us a sunny day or a smile at minimum sooner or later — the cacophony of accumulated past failures would be too much for any one player to tolerate otherwise.
Onward,
D
https://amazon.com/author/davidseaman — Read this year’s “Sacred West” and the other original research books FULCRUM has released over the years!
https://paypal.me/davidseaman for tips
Brilliant as always. I’m moving to secure email. Please keep us updated re: your health- no more eating targeted food from cesspool inhabitants. Look for alternative medical that can assess your MRI and suggest natural modes ( there are some) for fast healing-NO hospitals. October 4, the Emerg Alert System Test date @ 2:00 EST info on FCC and Fema. J P will eventually be exposed for all sociopathic/psychopathic actions.