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Late night thought.
The current wave of Bitcoin adoption on Wall Street says more about the state of Wall Street than of BTC.
Do you think it’s a coincidence that they started buying it amid an unprecedented wave of bullshit IPOs and SPACs? Or shit like Tesla and GameStop?
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The current wave of Bitcoin adoption on Wall Street says more about the state of Wall Street than of BTC.
Do you think it’s a coincidence that they started buying it amid an unprecedented wave of bullshit IPOs and SPACs? Or shit like Tesla and GameStop?
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2/ People like Jamie Dimon who used to call it a fraud are now super bullish. Do you think people like him could have really had a genuine change of heart?
I’ll tell you what it is: a late-stage bull market that has stopped believing its own rationalizations.
I’ll tell you what it is: a late-stage bull market that has stopped believing its own rationalizations.
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You don’t hear the “it’s just dollar losing value bro” or “low interest rates bro, TINA” anymore. Dollar has stopped losing value, never actually lost it except for Europeans, and interest rates doubled since July.
It’s purely about numbers going up at this point.
You don’t hear the “it’s just dollar losing value bro” or “low interest rates bro, TINA” anymore. Dollar has stopped losing value, never actually lost it except for Europeans, and interest rates doubled since July.
It’s purely about numbers going up at this point.
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So when you don’t believe in the system, you act like you do. You say the nice things about stocks or Bitcoin, farm money from fresh blood who think you’re an expert, and keep your ears peeled for the music eventually stopping. To some extent it’s what CT is doing too.
So when you don’t believe in the system, you act like you do. You say the nice things about stocks or Bitcoin, farm money from fresh blood who think you’re an expert, and keep your ears peeled for the music eventually stopping. To some extent it’s what CT is doing too.
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The music will stop, but I have no presumption of knowing when. Maybe tomorrow, maybe next year.
The point is that Bitcoiners are cheering for people to whom we are nothing more than an indigenous tribe, good only for selling glass beads in exchange for gold.
The music will stop, but I have no presumption of knowing when. Maybe tomorrow, maybe next year.
The point is that Bitcoiners are cheering for people to whom we are nothing more than an indigenous tribe, good only for selling glass beads in exchange for gold.
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In that sense I think a bear market will help the Bitcoin community understand what they’re about. The Number Go Up technology pushed out everything else, from “fuck the banks” to “p2p electronic cash”. Did Satoshi really want central banks to hold BTC?
In that sense I think a bear market will help the Bitcoin community understand what they’re about. The Number Go Up technology pushed out everything else, from “fuck the banks” to “p2p electronic cash”. Did Satoshi really want central banks to hold BTC?
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Lately I’ve been having some doubts if this industry will actually weather a depression-style death of traditional markets. I’ve decided it will, but only if we can actually break free of the number go up paradigm into real tech helping people. I hope we’re close to that.
Lately I’ve been having some doubts if this industry will actually weather a depression-style death of traditional markets. I’ve decided it will, but only if we can actually break free of the number go up paradigm into real tech helping people. I hope we’re close to that.
