Whenever number (finally) goes up, the class of 2020/21 bitcoin maxis are going to be a forced to be reckoned with. There is absolutely no “luck” and no windfall that we’ve experienced on our 4-year journey. Just hardened AF by the coercion, misdirection, and manipulation by the state.

We survived our first bear market because we didn’t know any better. But now it feels like the most bearish bull market yet.

Puhmp our bags!

WGAF?

Especially once MSTR embraces proof of reserves.

Without governments, corporations, and/or authorities… 9-months post-halving bitcoin should be pumping. So far, all they’re doing is manipulating the free market and suppressing the price.

How? Unclear. Why? Very clear.

Bitcoin removes “their” power.

How much longer in this cycle do we have to go until the cool kids (who I like quite a bit, btw) start berating nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m for MicroStrategy proof of reserves?

Makes no sense that with all these new, huge demand sources that 9-months after a halving we’re only up ~40% from prior cycle’s *weak* all-time high.

#MSTR

nostr:note1qx8cdw66mh32lh92g0lptl6sa3v8sgkx8ymj54rvxj8nez8e4zgq2glwx4

I think it also has to do with Coinbase fractional reserving bitcoin in a similar to what FTX was doing last cycle before binance blew up that Ponzi scheme.

Despite what we know in hindsight, FTX had legitimate financing partners and had the appearance of having it all together. They looked “legit” much in the same way Coinbase looks “legit” … what was the action that the US government was taking against Coinbase that suddenly went away? Then they got the custody contract for most of the ETF volume.

They’re literally going to flood the market with shitcoins, buy shitcoins, advocate holding shitcoins so that a fraction of the capital that should make it into bitcoin goes into bitcoin.

My dad is the same way. I’m not yet “successful” by his measure (nor my own) … he has been sure to let me know his feelings on my decision to go all-in as a bitcoin maxi.

He has also tried to wrest control of my outcome by stating, “As I’ve said all along, you’re either going to get very rich or be very poor.”

He actively chastised me at $16k, told me to sell everything because it was going to zero. I didn’t. I stacked harder.

Fathers and their impact on their kids. Profound in one way or the other.

Who is selling?

Absolutely absurd price action.

Custody your own coins. Be your own bank. Don’t let them fractional reserve bitcoin …even during the short transition.

Why does Ukraine have a bitcoin treasury?

It is one of 6 countries that have disclosed bitcoin purchases / treasury position?

Seems odd given the conflict centered upon it and all the global attention.

Other countries listed: USA, China, UK, Bhutan, El Salvador

Source: Onramp Terminal

Following.

The signal is that they’re *avoiding* #bitcoin.

Where is the supply shock?

This is ~6% of this year’s new bitcoin issuance. And basically nothing happens to the purchasing power?

Bullshit.

I just hate that authorities now “understand” the impact of bitcoin and are actively suppressing its price to slow adoption.

The freedom comes not only through its censorship resistance and perfect attributes as properties but it also comes with the benefits of increased purchasing power over time.

Gotta have that number go up. They stole the blow-off top last cycle and they’re not even letting us get going this cycle.

These are simply trash terms. They have to get better. Longer duration, lower rates.

I don’t know what changes … but something has to. There is no way to capitalize an operating business with these terms.

The implication of these rates is that anyone who owns any physical assets generating cashflow should sell all of those assets and just buy / hold bitcoin.

Which holds to the thesis but let’s stop pretending that there is another move out there. All assets are mispriced (too expensive) in bitcoin terms.

Buy and hodl bitcoin until all other assets are repriced. nostr:note10af0e6rwrdjh2gard0gzquxmsz3zyl3vrjhlzrtrjrdtj4phde3s7jjxf3

Bessent has been saying this from the very beginning of his candidacy for Treasury Secretary. Trump is stumpin’ hard - aka talking out his ass - to generate consumer confidence. But the actual implementation of everything he’s projecting is complicated and delicate.

But first and foremost, Trump has to have Americans - the boomers especially - feeling confident about the economy.

Trump sure seems to be playing David Bailey like a fiddle.