10 sats \ 3 replies \ @faithandcredit 11 May 2022 \ on: Daily discussion thread
Assuming Bitcoin crashes to $12k which i think it will, what is the path forward? It seems that anyone deemed a bitcoiner would be deemed a joke and with no credibility.
My feelings say the bottom is $26k.
Bitcoiners will be deemed a joke for another 10-20 years or so if it's anything like computers/internet/programmers. Computers were just beginning to become a "thing" in 1980 and it took until 2010-2015 for programmers to elude stereotypes and achieve "high" status.
In college, I remember saying that I couldn't wait for engineers/programmers to achieve the same status as doctors/lawyers. It seems like they roughly have - although I think doctors should and do have higher status for non-financial reasons.
Bitcoiners will at least have to wait half as long as early pc/internet hackers. In the meantime, I love jokes and don't mind being one.
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Hackers became high status in 2010.
Stackers will become high status in 2030..
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Is this bottom from the power law model?
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