#Bitcoin  about to close at the highest price in 78 weeks!

Looking strong!💪

A guy sends me a polite email, and says in a couple paragraphs that 1) he doesn't really see any role for bitcoin in a portfolio, it has no intrinsic value, and it just trades on sentiment and also that 2) it threatens USD hegemony and so politicians are likely going to add friction to it.

So I'm like, well, if there's nothing particularly valuable about it to give it any value or consideration for a portfolio, why does it threaten USD hegemony? Like, it threatens the largest and most globally salable monetary network in the world while having no intrinsic value, no portfolio role, while just being a thing that trades on sentiment?

¯\_(ツ)_/¯

No matter how much we pretend, we will never be able to comprehend the scale of universe. It's too large for our imagination.

as a huge friends fan, it really does hurt that matthew perry died.

Rand Paul serves to at least poke fun at the other members of congress, but I’m afraid you’re right.

Although it was predictable ahead of time that so many Palestinian civilians including children would die as a result of Israel’s response to the attack on Israel by Hamas, as the numbers continue to add up it is increasingly hard to watch.

Half of Gaza’s population is under the age of 18. There is not much more sad in this world than children, cut off from electricity and communication, violently dying from air strikes in darkness.

And sadly this happens in other places of the world too.

For much of human history, people were only aware of their own local area. Now we have awareness of large swaths of the world, and so we can keep track of tragedies in real time. We then desensitize ourselves out of necessity. Like, the sheer amount of negative information and unsolvable problems hit us through media, and in order to productively do something to add value to someone else, there is little choice other than compartmentalization it. An electrician can’t be caught up in the troubles of the world as he goes out each day and fixes things and building things, for example. In order to add order to his small part of the world, he can’t be fully caught up with its global chaos.

And then, I see these crazy protestors tearing down flyers about kidnapped Israelis, as though that activity could possibly be the best use of their time. People have a strong tendency to want to be part of something bigger and longer lasting than themselves, whether it is their religion, their community, their ideology, or their work. But some people chose such fruitless ways of doing it. Yes, you can and should advocate for not bombing children. No, you shouldn’t try to erase what happened to murdered or captured Israelis either. It is not rocket science.

The world is an increasingly polarized place, and my biggest concern is for those polarizations to be used to take rights away in a more broader context, or to wage war between larger opponents. Politicians will propagandize any small share of “crypto funding” to bad groups to justify more restrictions on those technologies and privacy in general. As countries go through sovereign debt crises, having some sort of enemy to point to helps their narrative for capital controls and keeping their citizens in currency and bonds as they are inflated away. I’ve studied the 1940s financial environment too much to be unaware of this.

Always look through to the bigger story, and ideally with a perspective of empathy toward many sides of any complex issue. Strive to be able to articulate your opponent’s view as well as they can, so that your counter argument can be most effective and surgical in its nature. And then, when there is nothing you can do about something globally, try instead to bring order and reason and improvement and kindness to whatever small portion of the world that you can.

BREAKING: Senator Rand Paul is introducing an amendment that will audit the Federal Reserve and allow Americans to know precisely how Washington is spending their money —per leading report

$1 trillion or $1.4 trillion borrowed last quarter?

This government is racking up debt so fast that nobody is even sure how much.

UPDATE: From Oct 18 - Oct 25

US net liquidity roughly DECREASED by -$49.6B.

Fed balance sheet: -$25.3B

ORR: -$50.2B

TGA: +$74.5B

OPINION: For the first time in several weeks, the latest weekly results are net negative for risk assets, all things being equal.

Compared to recent weeks, more liquidity has been added to the TGA while less has been withdrawn from the ORR, likely secondary to lesser issuance of short-dated T-bills by the US Treasury.

Net liquidity is still rangebound since April 2022, and is currently sitting near the center of this range.

Still a crab market until something changes... 🔥🦀🔥

I used to like Arthur Hayes but can't get beyond how much of a complete crypto degenerate he is. Like you have god-levels of money, yet you're still leading lemmings head first into crypto traps to use as your exit liquidity. Morally reprehensible.

can i officially say i’m going through my first bitcoin bull run or am i too early?

It makes zero sense to buy $BTC now.

Market is too euphoric.

We need a flush of the leveraged longs.

Lots of people are greedy.

Thinking they are invincible.

Market humbles everyone.

#Entertainment #Nostrich #Newtonostr #Plebchain #Newbies #GrowNostr #repost #420 #weedstr #Bitcoin #GSBAM

People tend to ignore bear markets and then buy high-volume tops. It is sad but that is what happens.

I’m going to emphasize “study bitcoin” to people this cycle. Not tell them to buy it. Not tell them to have fun staying poor. Just point out that it’s still here, yes it’s important, and yes you should take the time to understand it.

“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.

Any potential ETF is bad news. Pumps are bad news. All of this just reinforces investment angle and keeps broken money in power.

As long as this broken money rules, people will continue suffering. They’ll keep stealing from you, your kids and your grandkids. Incentives will remain broken.

It’s nothing to celebrate.

We should celebrate people using bitcoin as payments. Increased commerce is good. Daily usage is good. Circulation is good.