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#Bitcoin

What is your most bullish non-consensus view on #Bitcoin?

Replying to Avatar Lyn Alden

Too many people have given Elon a pass. Don't give him a pass.

He's a marketer, not a founder or an engineer. He didn't found PayPal or Tesla; he bought into them early. He's good at selling narratives and equity valuation for perpetually unprofitable companies.

Everything for him is a narrative. His green revolution was a narrative to sell more cars and get more subsidies. His bitcoin purchase was to gain appeal among bitcoin/crypto people in a bull market. And he shilled doge like a dumbass. His SpaceX narrative is to get money from the government.

His rooftop solar thing was an outright scam; the technology isn't ready and went nowhere because of that. His full-self-driving-in-an-intermediate-term timeline was a scam, and is going nowhere because of that. He makes scams to draw people and capital in, because for him it's all about narratives and equity valuation.

And then he dug unproductive holes, suggested unproductive hyper-tubes, built meme flamethrowers, for what? It's a narrative, not a business. None of this is real productive shit to make peoples' lives better.

His latest "we need free speech" narrative was a scam too. He tapped into something real, which is what marketers do and why it kind of worked. Yes, we need free speech. Yes, Twitter had censorship issues. He saw that and jumped on it maliciously rather than productively.

But what did he replace it with? He replaced it with arbitrary journalist censorship about his private jet, arbitrary censorship of Substack, selective Twitter Files release, won't talk seriously about any of his China connections because Xi Jinping fucking owns him economically there like Jack Ma, has his balls firmly in his grasp, etc.

Elon's playing the narrative, the anti-woke meme of the day. He's a master meme-momentum-player. Don't fall for it.

Finally. People coming to their senses.

Balaji engagement farming by wagering a bet on a bitcoin price target of $1m in 90 days is stupid.

#[0]​ just looked at charts over the past days. Now you can tweet bitcoin will never trade below $20k with confidence this time. Ever.

USA 5Y CDS at all time high. World equities in risk-off, meanwhile bitcoin strongly bid.

Bailout is bullish for bitcoin.

No bailout is bullish for bitcoin.

Bitcoin doesn’t care.

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks”.

🍿 bitcoin was literally designed to protect from what’s about to play out over the next 8 months. This will be the first real test.

#SatoshiForsight

Bank run domino about to kick start?

Very true. Because of the amount of rug pulls in the past 2 years, many did not even need to wait until 2030 to regret.

We do not have enough onramps to buy bitcoin away from traditional banking system.

Bitcoin ATMs availability and P2P marketplaces should be in more focus than they are.