Already have an account? log in
This article is FREE for you
Create a free account and join institutional investors, analysts and strategists from the world's largest banks
By submitting your email address you agree to receive communication by email
Fantasy Worlds, Bitcoin And The Almost Apocalypse
Meanwhile, in the land of the make-believe, Bitcoin hit a new record over the weekend, exceeding $60
OR, subscribe now for unlimited access
By submitting your email address you agree to receive communication by email
By submitting your email address you agree to receive communication by email
Humans need to have a truth which works hand in hand with the most basic survival mechanism.
Denial.
The world is a much more amusing place when you manage to live without both.
69 million on a Beeple…..6.9 million for a trump video…..NFT’s……can I be wrong and the world be right?
You can assume that their cost basis on their crypto was awfully low. What rich people do with their money (baseball cards, art, stamps) is irrelevant for us. Wrong or right? Meaningless.
For those that may be interested, I wrote this a while back on the same theme, but approaching it through an analogy: https://thisisandisnot.substack.com/p/bitcoin-is-the-fountain-of-money
I find it hard to believe that there aren’t several people or groups of people who aren’t trying very hard to somehow break into the Bitcoin ‘bank’. Managing to steal 100 coins long enough to get their worth changed into dollars and deposited into bank accounts that are then emptied or transferred to other banks enough times to muddy the tracks would only be worth 6 million dollars (today).
Bitcoin? “It goes up to eleven mate”
There is, indeed, one thing real in this entire equation (and this is referenced early on in the article) and that is the consequences derived from the assumptions that any parts of this equation are real. The assumptions themselves, however, will inevitably melt away for various reasons over time.
Many an assumed ‘global’ (read Western) theory of everything over the last 2500 years has missed that part where these assumptions are in fact assumptions, and not some epic foundation to build upon. It is both their starting point, and their point of failure, at conception. Every time.
Since we are discussing the ephemeral.
Buffalo hides had the allure of gold at one time “walking gold pieces” but in fact the very best and most efficient business minded “hunters” were disappointed with their financial results, and due to their diligence had been fully aware that their thirst for big profit cast them as cogs driving a means to an end of free reign aborigine. It was only the “boners”, once the wolfs had their take, and the “wolfers” were gone, that actually did pretty well. Many buffalo hunters were Civil War vets from both sides of the line, who were most likely having a hard time adjusting, Buffalo hunters as a group ere restless. Miners were restless. Are bit-coiners restless
Be the boner.