"Bitcoin is the last functioning smoke alarm".
nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z gives Luke Gromen a chance to explain the current downward price in bitcoin https://youtu.be/RA2cvfdwy0I
Discussion
good talk but bit depressing
We're currently sitting at 12ā17 on the Fear & Greed Index ā extreme fear territory.
I just bought more. I'm a natural contrarian š
My bet: in 6ā12 weeks we'll be at new all-time highs again.
Adoption keeps climbing, money printers are about to fire back up, and we just saw a 5% move in the last 8 hoursā¦ that's the old-school Bitcoin volatility I know and love. Feels like the good old days. š
Nice work š¤š¼ this is the dip.
Iām not gonna bet on the timeframe, but they definitely want that money print before their midterms next year. In the meantime, weāll see how much smoke turns into more fire sales
I figure the US has about 50% of the influence on Bitcoin's price swings
A lot of people feeling negative about this episode.. I think theyāre missing what Lukeās saying. Heās bullish.
Luke isnāt predicting total US collapse, China takeover, global war, systemic end times, hyperinflation.. heās just describing vulnerabilities that pressure a response.
His point is that the US has entered fiscal dominance: debt and deficits now limit how far the Fed can tighten. So tightening is nearly done, something will eventually ācrackā, then QE comes faster, and bitcoin benefits most from the easing phase.
If these macro moves are making you want to sell during a dipā¦ step back for a minute. Take a breath. Think about what that means to āsell a dipā.
Talk to someone whoās been a hodler through a few cycles about the normality of btc volatility that runs in tandem with the constant up and to the right.
Or talk to a macro nerd.
Or thereās a handy tool built for this kind of thing on your computer.
- Go to the podcast transcript on their desktop webpage
- Copy the whole transcript into a text document
- feed the document into an LLM like ChatGPT or whatever
- tell the LLM to do some deep research on the current state of the market so it can get some context around the podcast transcript
- then ask it to summarise the transcript discussion for a new bitcoiner/someone not familiar with macro/lay person/whatever it is that best suits you..
- theyāre pretty good at text to concept explanations, so youāll be able to query it on whether itās a good time to sell btc and all sorts of other stuff
- DO NOT GIVE IT YOUR PERSONAL INFORMATION
- But ask it any question you want as an information seeking, neutral observer.
Change can be exciting or scary - so you can either approach this time as a wealth opportunity, or as a wealth cost. Whichever one you chose, will become true for you.
This is sovereign money - It is your choice.
Love that line š āLast functioning smoke alarmā is so accurate. Curious to hear Luke Gromen break down the current dip
I like Luke but he keeps saying Russia beat NATO in Ukraine.
Totally false.
NATO hasnāt done shit yet.
Sitting on its hands.
Love that analogy. š„
Bitcoin doesnāt wait for the fire to start; it warns us while the system is still pretending everything is fine.