Category Errors In Cryptocurrency

The Twitter community started this week way more excited than usual. While Kevin Palm is writing about those enemies in silence, we are discussing rate jumps, Bitcoin advantages and regulations

  • @AriannaSimpson: ‘Seriously, I cannot even with this stuff. Today, in obvious news:
    Bull case: BTC to infinity
    Bear case: BTC to zero
    TLDR conclusion: ‘we think the price of BTC will most likely end up between those two outcomes’
  • @real_vijay: ‘One thing I find really interesting about BTC is that because of its fixed supply it cannot find a stable equilibrium except at the extremes (zero adoption or full adoption). Proof is a simple reductio ad absurdum.’
  • @nytimesworld: ‘Georgians have sold their cars, even their cows, to buy high-powered computers to mine Bitcoin from home’

@_jillruth: ‘Investors often apply the same heuristics whether they are talking about bitcoin, the Petro, or filecoin because they're all crypto. This is like applying the same fundamental analysis across gold, sanctioned Venezuelan debt, and Dropbox equity ca 2008’

Cryptocurrencies are not an asset class, they're an asset race. And Bitcoin is Usain Bolt with a 50 mile head start.

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