Yes, but… counterparties are on the other end of this trade, selling metals and buying the BTC dip.
Bitcoin always returns to its rightful holders over time.
“In bear markets, bitcoin returns to its rightful owners.” – J.P. Morgan, 1912
Roughly 70% of economists predicted a recession in 2023. They have ZERO predictive power. Most of the time, tomorrow looks similar to today and yesterday, that is truly the extent of the predictive power they have. When something changes, all their models break. This is borne out of the data.
The GDPNow model incorporates the balance of trade (imports vs exports) in its model. Some companies front-loaded imports recently to try to combat immediate effects of potential tariffs (a hedge of sorts), which drastically changed the recent balance of trade, and likely impacted the GDPNow model predictions.
That said, predicting the economy in the short term is a loser’s game in general. Most (all?) economic models break completely when something changes direction.
“More heat than light” by Philip Mirowski is a great primer on the fallacies of neoclassical economics, and how they try to emulate the sciences and create physics-like models and equations which fail to actually model or forecast the ‘real’ economic world. Modern economics is not a science, but is envious of science.
Agree. I’ve lived in multiple places around the world (including Ireland—magical) but the Sierra Nevada foothills in northern California was the most beautiful place out of all of them. Every single day there felt special, even after living there for a few years.
TLDR: if you’re developing AI services for every industry, and the cost of developing/training your AI models is going to suddenly be 30X cheaper, you are winning.
Big tech makes MOUNTAINS of money. If AI training just got cheaper (via models like Deepseek) that is very bullish for AI (cheaper equals faster industry adoption and scaling) and bullish for big tech (even if they overspent on chips in the last few years).
Windows 11 is shit show. Imagine buying a new computer or buying an operating system and having it come with advertisements.
https://www.engadget.com/windows-11-now-comes-with-its-own-adware-124531977.html
The only way to get rid of bad tech…is to stop using bad tech.
Remember: Bitcoin still doesn’t care. It doesn’t care about Elizabeth Warren, or Larry Fink, or the Fed, or the SEC, or ETFs…
Ticktock, another block.
“The problems in the subprime market seems likely to be contained”
-Bernanke, March 17, 2008
Today’s bailouts showed which money is the “magic money”
FDIC limit: $250,000, wait no, just kidding, it’s now unlimited