The same psychology that willingly gives up liberty in exchange for perceived safety… fear and uncertainty. Stop being a b*tch and stack #Bitcoin like your liberty depends on it
https://m.primal.net/KjmX.jpg
I read a lot of comments asserting #Bitcoin has failed because a solution was built for a particular use case and implemented with some kind of perceived compromise to the self-sovereign ideal. #Bitcoin is a foundational protocol and people are free to build anything they want on top of it. They can choose to implement kyc, or add support for stablecoins, or leverage Plaid to integrate with legacy systems. None of this impacts the #Bitcoin protocol in any way and highlights the beauty of scaling in layers. Solutions can be optimized without compromising the core.
Austrian economics: Observes human behavior and applies first principles reasoning to construct an economic framework. Core tenets are self-evident.
Keynesian economics: A toxic brew of wishful thinking and academic masturbation reliant on credentialism for authority.
Fiat currencies stem from the latter.
Let’s do #Bitcoin instead
Them: #Bitcoin has no intrinsic value other than as something to speculate on.
Also them: #Bitcoin is only used by terrorists, drug dealers, and money launderers.
Also them: "#Bitcoin has the potential of undermining the role of the dollar as a reserve currency.”
They're all lying to our faces. They'll suddenly "come around" to #Bitcoin in a year and we'll find out their executives have been stuffing their bags this while time
https://m.primal.net/HXtT.jpg
Not only is it monumentally stupid, but the best part about this objection is that they they think it's a solid gotcha. Like there couldn't be a logical response 😂
#Bitcoin 2024 journal
January 3:
Day begins with rumors from Matrixport that SEC will reject #Bitcoin spot ETF even though no new insight is offered as justification for their take. However, it appears to be enough to trigger ~$500M in long liquidations and Bitcoin promptly drops below 41k to give up yesterday’s gains. #Bitcoin spends the remainder of the session clawing back to settle at just under $43K. Overall, markets were down for the day to make for a slow start to the year.
https://i.postimg.cc/7LjS0b74/IMG-3848.jpg
#Bitcoin 2024 journal
January 2:
Overall market is flat. #Bitcoin pierces $45K and dominates the news cycle as the market anticipates spot ETF approval any day. All appears bullish until Jim Cramer finally bends the knee and acknowledges the staying power of #Bitcoin. Proponents everywhere shudder.
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Notes by fatStacksOfSats | export