@thisisbullish https://twitter.com/jessefelder/status/1329102138774065158

I'm a fan of Jesse's work and will continue to be, but this was hard to read. Some thoughts I hope Jesse considers.

a. No, bitcoin has never been hacked. Mismanaged private keys, phishing scams and leaving bitcoin with a custodian are completely avoidable.

b. On store of value/ currency...

It may be helpful to view Bitcoin as a scarce asset, or a commodity, or even a network before a currency.

Two observations:
- 200 week moving average has never gone down
- the dollar is a great medium of exchange and an awful store of value

c. Bitcoin forks are completely irrelevant to Bitcoin's supply and price action. 21M cap. That's it.

If you tried to use "Bitcoin ZYX" fork on the Bitcoin network your transaction would not go through.

Bitcoin fork ≠ Bitcoin
Also see: Square peg does not fit in round hole

d. If you understand gold's value proposition you should see bitcoin quicker than most.

It takes time to understand what's going on here, just need to view it through a new lens.

See Stanley Druckenmiller on Bitcoin v. Gold bet https://twitter.com/VentureCoinist/status/1325886314399604736?s=20

e. Last thought: Everyone on this list was at one point skeptical of Bitcoin and had similar arguments to the ones Jesse carefully laid out. Seeing it takes time. I hope one of my favorite market observers comes around eventually @jessefelder https://twitter.com/JasonYanowitz/status/1325891914319749125?s=20