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0/ The Great Crypto Reversal
Key difference between the '17 and roaring 20s in crypto is that back then everyone was aping a16z and Naval.
Today everyone apes 3AC wanting to be the next Degen.
'17 was an idealistic *saving the world* kind of thing
20s is *me against the world*
Key difference between the '17 and roaring 20s in crypto is that back then everyone was aping a16z and Naval.
Today everyone apes 3AC wanting to be the next Degen.
'17 was an idealistic *saving the world* kind of thing
20s is *me against the world*
1/ The financialization of crypto means more volatility but pretty long ascend to the top.
Multi-year bull and an ATH surprising even to the biggest bulls as the infinite Cantillon "wealth" is pumped into crypto
Crypto becomes the ultimate Cantillon insider circle-jerk.
Multi-year bull and an ATH surprising even to the biggest bulls as the infinite Cantillon "wealth" is pumped into crypto
Crypto becomes the ultimate Cantillon insider circle-jerk.
2/ This will be one the most iconic ideological reversals in history, comparable to Google who was firmly against advertising but turned into the most powerful ad company ever.
3/ This scenario reminds me of the 90s privatization period in the post-socialist countries.
The regime transition allowed the communist party elite to benefit from the wild west form of "capitalism" that ensued, transferring (and multiplying) their wealth into the new regime.
The regime transition allowed the communist party elite to benefit from the wild west form of "capitalism" that ensued, transferring (and multiplying) their wealth into the new regime.
4/ We are far from Satoshi's original vision . But words and intentions of *prophets* were used to manipulate and corrupt all throughout human history and this time it is no different. https://twitter.com/NickSzabo4/status/1219757279219576832?s=20
5/ Whether we like to admit it or not, crypto is the greatest leverage ever.
Solving the problems of "the little people" is but a pipe dream.
Crypto will not help to solve inequality. It will create generational wealth for people with particular set of skills.
Solving the problems of "the little people" is but a pipe dream.
Crypto will not help to solve inequality. It will create generational wealth for people with particular set of skills.
6/ Waiting for the retail is waiting for Godot.
It is a ridiculous meme and a red herring.
Retail and normies are irrelevant.
Insider/Cantillon wealth is what makes the green candle that buys @kyled116 breakfast cereals.
(mine too but I do not eat breakfast)
It is a ridiculous meme and a red herring.
Retail and normies are irrelevant.
Insider/Cantillon wealth is what makes the green candle that buys @kyled116 breakfast cereals.
(mine too but I do not eat breakfast)
7/ This is why CT is attracted to characters like @DegenSpartan.
He is the truth hiding behind the troll. He is both an extreme insider (skills+capital) and extreme outsider (anon).
Degen is a manifestation of our shadow self. Some understand but few are willing to admit.
He is the truth hiding behind the troll. He is both an extreme insider (skills+capital) and extreme outsider (anon).
Degen is a manifestation of our shadow self. Some understand but few are willing to admit.
8/ There is nothing wrong with such reversal.
Morality has never bought prosperity anyways. Greed has some positive externalities.
Those emerging super-wealthy from the roaring 20s will be freed to pursue grand and exciting goals on behalf of the civilization.
Morality has never bought prosperity anyways. Greed has some positive externalities.
Those emerging super-wealthy from the roaring 20s will be freed to pursue grand and exciting goals on behalf of the civilization.
