Balaji was and is a shitcoiner who occasionally got a thing or two right in his predictions. By this summer, we’ll find out if he’s a stark raving lunatic, or one of the most prescient thinkers of our time (and unexpectedly, the most uberbullish maxi)
Discussion
💜 the new touches to your profile pic 🤙
Which one is it?
I’m not going to link to the haram bird site, but he’s made a slightly confusing bet that hyperinflation is coming in the next 90 days and that will eventually push Bitcoin price to $1M USD. Many people are reading it as BTC will be $1M USD in 90 days, although I don’t think that’s what he’s saying. I’ll write a more detailed note about this tomorrow
Balaji @balajis says (I'm paraphrazing):
The hyperinflation has started in stealth. The bailout funds went from $25b in march to $2T now. And that it won't stop and be quite quick.
Closing up the us crypto banks is a way to barr people in the collapsing system. No time to close all exits all over the world though.
BTC $1M means it's happened.
I've been so desensitivized with such predictions that it's "yeah? ok, whatever"
💁
Sorry, I'm reading too fast... the $1m is a price money, Balaji wants to give away $1k at the time for tweets with charts and evidence that it is indeed happening. No mention of "final bitcoin price".
I haven’t verified on chain, but he is presenting a new (and sticky) approach to contract payments, with skin in the game. The marketing alone might be worth it.
Yeah the mechanics of the bet are interesting by themselves, but I’m still reeling for the subject matter in the bet itself
I think he’s pretty straight up, he has dealt in “shitcoinery” I’m sure due to exposure to SV peers but he touts bitcoin https://youtu.be/Etf8lFgfy6Q
His Game of Thrones analogy "The Red Wedding" makes sense...
"THEY ARE TRYING TO BLOCK THE EXITS
The US establishment just killed Signature and Silvergate because they banked crypto. Barney Frank noted that Signature wasn't even insolvent. They won't even let Signature acquirers keep the crypto business.
Fortunately there are enough pro-crypto banks elsewhere in the world that the US establishment can no longer take down crypto on its own.
But Americans might be penned in.
Remember Red Wedding from Game of Thrones?
First they close the doors, then get everyone inside.
This is what all economically bankrupt regimes do.
They build Berlin Walls that prevent freedom to exit.
Unless you get out first."
Balaji opens his third laser eye and preaches. 😂