“The institutions are coming” was a meme in the last cycle.

And it was partially true. Small businesses came. High net worth people came. Forward thinking public companies with bitcoiner leaders like MicroStrategy and Square/Block came. Even a few big insurance companies and asset managers dabbled.

But that was premature. The institutions just tasted. Their leaders bought with their personal accounts or otherwise understood, but couldn’t put big regulated money in. And it was a crazy time- with fiscal stimulus many things were a bubble.

I talk to some institutions, and like, they get it now. That’s not exactly news when Larry Fink is on tv calling it a flight to quality. But I will reinforce it anecdotally- institutions increasingly get it, or at least some of it.

Most people only see the prior cycle or two. They don’t see all prior cycles since inception because that requires looking at a log chart and putting in a few hundred hours of research.

Bitcoin has to get big enough to hit your radar, lead you to form an opinion on it, collapse, and then hit your radar even bigger again, for most people to get it. It’s not about “all cycles”; it’s about their *specific* cycle of understanding it, forming an opinion, and then seeing another cycle that either validates or challenges their opinion.

Also, many people will get emotional this cycle. Fade emotions and focus on fundamentals.

Anyway, enjoy your evening.

good morning nostr, get your priorities in order 🫡

Thanks to rayfin's post on #reddit for getting me up and running. Definitely running into some issues but slowly getting going.

Officially an American 🇺🇸

I am so god damn embarrassed. The lack of accountability is infuriating.

Journalism is about the truth not about being first!

Can you do that on iPhone?

Damus is good but honestly I like the “trending” features of primal. However in Primal I’m read only or something. I like Snort quite a bit as I can interact and it has trending notes, but the experience isn’t as smooth as the others. I’ll have to try Nostur.

Today is the feast day of Sts. Michael, Gabriel and Raphael, Archangels!

an orange leaf! 🍁

fall is here in chicago. hard to explain but i love fall.

gm 🫂

Also just wanted to say i relate more to you fine people than anyone outside my immediate family. Thanks friends

I've just built ecash HTLCs... which can be atomically swapped against Lightning payments 🤯

Submarine nuts?

What song is stuck in your head right now?

I might be the last only zapper standing…