Most people who haven’t gone down the Bitcoin rabbithole yet don’t really understand the paradigm shift that has happened with the invention of digital bearer assets. They fundamentally change the nature of assets back to something that looks more like traditional capitalism.
What we saw last month was a run on Crypto. We saw what can happen with no government backstop and no quality guarantees. We saw retail investors wiped out. We saw Crypto funds taking heavy losses.
But there was no government bailout.
A bald and slightly malevolent CEO isn’t the only common factor between the behemoths of Crypto and Consumer Goods. When looking at how to value Coinbase and trying to figure out where they are going, it is instructive to compare them to a once tiny internet bookshop that went on to dominate a diverse range of tech markets from Web Services to Home Security.
While the media manufactured a hysteria around “not your keys, not your coins”, they probably didn’t tell you the part where your government already gave themselves the ability to do this to your bank accounts years ago.
We’re past the “crypto is here to stay” phase and into the early innings of hyper-Bitcoinization. There will be no crypto ban, and Peter Thiel declared war on “woke” capitalism. Here are the five big takeaways from the #Bitcoin2022 conference.
Welcome to the Post-Post-Bretton Woods era, where third party custody of your wealth is a gun pointed at your head. There is really only one alternative to this situation: that is the widespread adaptation of a trustless, frictionless digital bearer instrument that can be accessed by everybody, everywhere, no matter what.
Short answer: They can’t (Unless they’re in a hot wallet on an exchange within Canadian jurisdiction). Longer answer: I’m seeing references and hearing anecdotally how the Canadian government froze or even seized crypto wallets associated with the #FreedomConvoy fundraising efforts. Including the sensational headline from Fortune magazine’s “Fed up Ottawa residents win secret suit to […]
We’ve entered a Hobbesian dynamic of everybody canceling everybody else. Now that even the financial system itself has been weaponized, Bitcoin is the peacemaker.
Welcome to the era of civil asset forfeiture for your bank accounts. Where governments are woke, broke, and the new f-word is freedom.
Pick one: Fed hikes and crashes the economy, Fed pivots and crashes the currency, or Fed punts and goes for a CBDC,they all lead to the same place: Bitcoin.