Replying to Avatar less

Lots of confusion out there. Let’s keep it simple.

#Bitcoin is:

- Decentralized

- Secure

- Scarce

- Stateless

- Permissionless

- Energy Money

It’s not a tech company.

It has no cash flows and it never will.

It uses a lot of energy to maintain its unique properties (see above), and it always will. This is a feature, not a bug. Don’t apologize for it.

GM.
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BitLo 1y ago

Any thoughts on price since ETF launch? Do you think people getting out of GBTC causing price dip primarily? Interesting change in market dynamics IMO.

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less 1y ago

It was overbought, especially in the setting of decline global M2 since January 1.

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BitLo 1y ago

I agree about the run up prior to ETF announcement. A gift for those able to stack cheaper sats. Going back to GBTC flows, they were going to have to reach an equilibrium at some point. It was either going to happen gradually or more all at once. But when the sell pressure clears out...BOOM!

e8
Ralphy 1y ago

Nice to say in retrospect, did you say the same prior to the price dip?

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less 1y ago

What’s wrong with you?

e8
Ralphy 1y ago

Many things, but I’m not sure why that’s relevant. Just asking if this is something you saw/communicated/acted on prior to the dip or if it’s a retrospective explanation. I understand you manage ppls money, so it may be helpful to know if you saw it coming…