Here's an incredible thread from our friend Misir Mahmudov that lays out Bitcoin's path to success and the events that will catalyze it. I highly recommend you check out the whole thing when you get a chance this morning if you haven't peeped it already.
2/ Bitcoin is first perceived as an internet toy by cypherpunks.
— Misir Mahmudov (@misir_mahmudov) September 25, 2018
4/ The media, the financial and tech establishment (Wall St. and SV), having failed to buy Bitcoin early and capture the growth, denounce it as a Ponzi scheme/bubble/MySpace of blockchain etc.
— Misir Mahmudov (@misir_mahmudov) September 25, 2018
6/ The retail, VCs, HFs, lacking understanding of monetary economics and applying inappropriate valuation models, invest into the shams that all other cryptocurrencies are, creating more noise and confusion as the prices of these altcoins increase at a rate higher than Bitcoin.
— Misir Mahmudov (@misir_mahmudov) September 25, 2018
If you're into Bitcoin, it is imperative that you develop the mind and practices of a stoic. This means being able to visualize the future and the many ways it may play out, accepting things for what they are, and preparing yourself for those many different potential futures accordingly. In his thread, Misir lays out an extremely coherent and logical path for Bitcoin's path to hyperbitcoinization. The path is littered with affinity scams pumped by confused incumbents, screeching nocoiners, speculative attacks, and capitulating central banks.
This is going to be an extremely fun ride, freaks. Prepare accordingly.
On a side note, the Mahmudov bloodline is STRONG.
There was a lot of great content that came out of the Baltic Honeybadger conference in Riga, Latvia over the weekend, but one talk stood out to me in particular. Nic Carter's presentation on Bitcoin as a novel economic institution. In it, Nic lays out the case that we as an "industry" should demand better metrics when we are attempting to value these blockchains. The current go-to benchmark, pure market cap, is woefully misleading and dangerous for investors who routinely make false equivalencies because of this bunk metric. The new metrics he proposes, Thermocap and Realized Cap, are an attempt to bring us back to sanity and closer to the true measure of utility for these blockchains.
You can check out the slides to his presentation here.
Final thought...
Remember Furbies? Have we locked up the person who invented them yet?
