Posted 2 weeks ago | by Catoshi Nakamoto

Talks of a recession heat up in response to the FED meeting, Joe Rogan talks bitcoin and the public testnet is live for Cardano’s new stablecoin. My name is Ben. This is your crypto nightly news wrap-up. Let’s get it!

The first day of the FEDs two-day meeting took place today, and in the wake of that, the word “recession” has been being thrown around more than we’d like to hear. The thing is, they use that word as though it’s the economic equivalent to the black plague. The word for that would be…depression. Yes, recessions are an unfortunate reality, and some would even go as far to say they’re a normal occurrence. Nevertheless, every time we go through a recession, we always find our way out in due time. The last recession we were in, in 2020, only lasted two months. Yeah, it was the shortest on record, but did most people even define that period of time as a recession? Sure, the great recession in 2008 lasted 18 months and on average they last about 11 months, so there’s a wide range in terms of duration and severity. I want our viewers to get comfortable with the idea that we very well might be going into a recession. Goldman Sachs, Bank of America and Deutsche Bank are all calling for recession in the next two years. (source) With that, not to minimize, but I don’t think this is something we can’t handle. We’ve endured them before; we can endure them again. Think of this like a crypto chart. When we’re going up, it feels like we’ll go up forever and when the prices start dumping, the fear sets in, and it feels like it’ll never end. The thing is: it will end. Every chart will always hit its bottom eventually. No matter how long it takes, at some point this will around and we’ll start climbing back up. My point is, whether or not Powell and the FED can manufacture that soft landing, regardless if this interest hike is 25, 50 or 75 points, you have to ask yourself: would you rather have the hard-earned money you work for continue to be devalued, or would you rather bite the bullet and live a bit more frugal for the next year or so? However this plays out, this is a humbling lesson on how bad things can get. In time, you’ll see that lessons like this only make you a stronger and smarter investor and a stronger and smarter person. In trading and in life, the patient will prevail. Let’s pass it over to Frankie Candles for a market watch!

In a recent Episode on of the Joe Rogan Experience, Rogan had a very interesting conversation with light heavy weight MMA fighter Khalil Rountree…about Bitcoin. Not only is this bullish for the culture to hear a conversation about crypto on one of the biggest podcasts in the world, but the content of what they said should be an eye opener for outsiders looking in…especially in terms of opportunity and regulation. Rountree talked about how attended Bitcoin Miami, how he’s not a tech guy but he’s really excited about the tech and that he didn’t think he would have generation wealth from fighting, but crypto could be that opportunity. Rogan stated, “I think of Bitcoin the same way I think about the early internet, I think they didn’t see it coming and now it’s a viable form of currency and you can actually buy things with it and I think the government is freaking out.” He followed this up with his concern about CBDCs, and I think you should hear it from the man himself.

The CBDC conversation is one of concern, and I applaud Rogan for putting it out there to the mainstream how government overreach could ruin a good thing.

Charles and the gang are at it again and the Djed public testnet is now live! Djed is an algorithmic stablecoin built on Cardano and will play a large role in the COTI ecosystem. The test net will run for several weeks until its full roll out onto the mainnet, which is planned of for June this year. According to the Djed whitepaper, “it works by keeping a reserve of base coins and minting and burning stablecoins and reserve coins.” In Djed’s case, the reserve coin is called a “Shen” and unlike like the stablecoins, the Shen price fluctuates to ensure price stability. It also states that Djed is, “The first stablecoin protocol where stability claims are precisely and mathematically stated and proven.” I would expect nothing less from the ADA gang. Minswap, SundaeSwap and WingRiders are all starting to test Djed on their platforms and you can test Djed yourself by using the Nami wallet. For a tutorial on how to test Djed, click the link in the description. (Djed Tutorial) If you’re in the ADA gang, let us know in the comments and be sure to like and subscribe.

That’s all I got, Be blessed. BitBoy out!

About Catoshi Nakamoto

c6ea0c3794492f30883e516d39b2597a?s=90&d=blank&r=g Too Late To Avoid Recession & Rogan BULLISH On Bitcoin!Activist/Journalist, former writer - We Are Change, The Mind Unleashed, Coinivore, others. Currently writing for - Activist Post and Bitboy Crypto. Not Right or Left Apolitical. I Care About Truths (CATS.) Cryptocurrency enthusiast, I mined and lost 100+ BTC in 2010-2011. I work with - Bitboy, SoMee, CEEK, Presearch, and W3BT aka FMW Media Group. Friend of mostly everyone who isn't a dick. Just A Cool Cat.