Much has been said about gold being the best option when it comes to hedging. Now, the Winklevoss twins are making a case for Bitcoin and Unifi.
To learn more about how Bitcoin and Unifi can help your portfolio under the current economic landscape, make sure to watch Bitboy’s video!
A Case for Bitcoin
The Winklevoss twins, Cameron and Tyler, who are on the Bitcoin billionaires list, recently published an article stating why they believe $500,000 isn’t an outrageous price estimation for Bitcoin in a not too distant future.
They argue that Bitcoin could become a “dependable hedge to the inflation of fiat currencies” and they further express that Bitcoin is “ultimately the only long-term protection against inflation.”
The argument made is that a combination of spending money, lowering taxes, and “printing money”, the latter being done by cutting interest rates, quantitative easing, as well as adjusting cash reserve ratios for banks, are often tools used to counteract an economic contraction.
However, they believe this will cause hyperinflation and is thus only a temporary solution that will bring further problems.
Printing Money Causes Economic Crisis
The increase in long-term treasuries does reveal that the Federal Reserve’s board has ordered the “purchase” of $557 billion of debt from the Department of the Treasury, using money it printed specifically for that purpose.
The government is thus bankrolling its operations by spending $557 billion US dollars of the Treasury’s deficit spending. They point out the risks associated with the funding of a government by printing new currency, as opposed to taxation and other options.
Combine all this with the COVID-19 relief CARES Act, authorizing a $2 trillion stimulus package and more talks of stimulus in the future may lead to an economic collapse of epic proportions.
The Winklevoss twins both agree that Bitcoin’s fixed supply and its portability make Bitcoin a sure-fire winner for storage of value and that money stored in Bitcoin will run the fastest, overtaking oil and other safe-havens like gold.
Seamless Financial Freedom
Considering that Bitcoin could be looking at a future Bull market and that the dollar value could be looking at a drop, traders may be looking at projects who behave per Bitcoin’s value. One such project presented is UNIFI.
UNIFI offers an analytics suite built for all traders, whether they are well experienced or just dipping their toes in. Unfi DeFi is an entire decentralized finance suite that will offer lending, liquidity, governance, staking, and analytics.
Unifi Defi will use their ‘Nitrous Layer’ to allow for cross-chain transactions at increased speeds and a reduced cost, effectively creating an ecosystem of blockchains. This enables blockchains in the ecosystem to be interoperable and able to leverage each other at times of increased usage to prevent transaction fees from spiking or causing congestion.
The Nitrous Layer works by burning the coin or token on one chain and using that Proof of Burn verification to mint tokens on a new chain. This allows for coins to quickly and easily move across different blockchains. The result of this is that coins on expensive, or congested blockchains can allow Unifi Defi or other linked blockchains to process the transactions on their behalf.
Nitrex is a non-custodial platform which effectively means that Unifi will never have access to a user’s private keys. The platform has all of the tools needed so that a user can manage their assets while remaining in complete control of their finances.
Staking on Unifi
Enabling people to remain in control of their finances is one of the core ideas of the project. Unifi makes their intentions clear in a quote on their whitepaper:
“The decentralized finance revolution is here to stay and it’s changing the way people look at their finances. The ultimate goal is a world of global financial freedom but there are still a few hurdles that need to be crossed before mass adoption can occur. Unifi is here to leap those hurdles and ensure that global financial freedom becomes a reality”
The project is open for staking and can be found listed in the UniFyre wallet and can, at this time, only be bought on Uniswap. Any interested party does have to keep an eye on what project they are getting into though as many other projects have appeared with similar names.
Looking at their staking options, for the first year, Unifi will provide a rate of return of up to 48% annually with that amount lowering each subsequent year thus incentivizing early adoption. However, there is a minimum staking requirement of 10,000 UNIFI. Something that has to be considered for any trader looking to get involved with the project with dreams of global financial freedom.
To learn more about the ongoing giveaway, make sure to click here to watch the latest video.
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