Thanks, I think this is a good way of describing it. I think I wrote this post at some level to push back against the "nothing can stop this run" optimism I've been seeing on Twitter and elsewhere.
As I've built a more nuanced view and spoken to more people, I'm finding general agreement that "Yes, like all things, it could drop mightily in a mass-panic sell, but... remember it has inherently useful and unique characteristics."
I just think people need to appreciate the specific dynamics which could exacerbate a panic and mass sell-off.
I agree and wish more of these people had watched some of Andreas Antonopoulos brilliant talks. That would hopefully give them some perspective about what bitcoin is about. Tempting as treating it like just an investment might be, it is unfortunate to not think about its real significance.
Here's one that I enjoyed a lot youtube.com/watch?v=DuoE5CXlIdY
(watching the 2nd half requires a registering to londonreal.tv but I think is worth it)
Also I think the answers to some of the Canadian senators questions on the following are also illustrative youtube.com/watch?v=xUNGFZDO8mM
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Thanks, I think this is a good way of describing it. I think I wrote this post at some level to push back against the "nothing can stop this run" optimism I've been seeing on Twitter and elsewhere.
As I've built a more nuanced view and spoken to more people, I'm finding general agreement that "Yes, like all things, it could drop mightily in a mass-panic sell, but... remember it has inherently useful and unique characteristics."
I just think people need to appreciate the specific dynamics which could exacerbate a panic and mass sell-off.
I agree and wish more of these people had watched some of Andreas Antonopoulos brilliant talks. That would hopefully give them some perspective about what bitcoin is about. Tempting as treating it like just an investment might be, it is unfortunate to not think about its real significance.
Here's one that I enjoyed a lot
youtube.com/watch?v=DuoE5CXlIdY
(watching the 2nd half requires a registering to londonreal.tv but I think is worth it)
Also I think the answers to some of the Canadian senators questions on the following are also illustrative
youtube.com/watch?v=xUNGFZDO8mM