NGU is required for bitcoin to be successful. It has to be a superior storer of value over space and time. Risk-adjusted. For those who adopted in 2021, it has not been a superior storer of value over time.

Every bitcoin analyst and influencer has been wrong about this “cycle” … those of us who adopted in 2020/2021 have out both our capital and reputations at risk for this asset and that trust in the protocol has not been rewarded by the market.

Something is off and it is worth trying to understand what and how and to call out any bad actors who are actively manipulating the purchasing power of bitcoin.

Analysts and influencers suggesting “we haven’t been patient enough” is disingenuous and I think you understand well enough what I am saying and why there is a large contingent with negative sentiment…and maybe a growing resentment of those earlier classes who have enjoyed their windfall and now are changing their tune as we enter into the longest period without meaningful risk-adjusted returns over an entire halving cycle.