As "crypto" sees its Lehman moment the credibility of the industry is at an all time low. Every no-coiner is thinking to themselves "of course this stupid crypto shit is blowing up and going to 0". The funniest aspect is that they are 99% correct. Conflating bitcoin with crypto has caused confusion effectively since inception. Every person must go thru the proverbial crypto horseshoe to begin to understand money and what problem the "blockchain" actually solves. Personally I feel that there may be other use cases for "blockchain" but if these use cases have "utility" it means they should be essentially free and trying to monetize a token is idiotic / blatantly malicious (its the shitcoin spectrum).
Regardless in the current moment:
- No coiners are either unaware of crypto's collapse or think "finally"
- Crypto shills are capitulating and questioning everything they thought was true
- 1 sat = 1 sat
This bear market may last years and adoption could be impacted from a timeline perspective. Regardless if you have a low time preference then this may be the sat stacking opportunity of a lifetime. Being in the class of 2021 I am grateful for the opportunity to get cheap corn denomintated in fiat terms.
Its all macro - the two things I am 99.99% confident in:
the Fed will have to pivot and debase eventually as fiat is programmed to destroy debts and prop up assets.
Bitcoin will continue to exist
More bitcoin maxis were made today