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Can I Say One Thing About Bitcoin?quoththeraven.substack.com/p/can-i-say-one-thing-about-bitcoin
495 sats \ 3 comments \ @unschooled 11 Apr bitcoin
Kind of a boring news cycle this week, as everything is all STAWKTS (not very intriguing for someone with no exposure to SPY ...)
As I believe it was Bessent who said, Mag7 problems, not maga.... (or something to that effect.) Although I couldnt be bothered to wear one of those awful hats, it seems the main sentiment here is that most people (30% at a minimum) are just the same as they've been all along - zero exposure, nothing lost nothing gained, as of yet.
What is interesting concerning this week's news cycles, in whatever capacity anyone here might be interested in BITCOIN are the frequent allusions to 2008; and that, since this time around we have bitcoin, maybe all of this basis trade unwind and flight from "safe haven assets" like treasury bonds might be a signal that it (I.e. the corn) is working as planned.....
In short: if you can cut through all the noise, you may find these exciting times to be a bitcoiner
This confluence of market and policy risk is accelerating a quiet but critical exodus from U.S. assets, with foreign central banks reducing their Treasury holdings and global investors seeking alternatives in gold, commodities, and even digital assets like Bitcoin.
[...]
The message is clear: the world is beginning to hedge against the dollar.
[The American financial system] rewards the elite, socializes losses, and keeps the working class footing the bill. That’s exactly what happened in 2008, and it’s exactly what will happen again when the Fed bails out this basis trade: the Fed will step in to bail out irresponsible leverage from hedge funds, at the cost of the public’s purchasing power.
The difference is, this time, the public will be better informed.
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234 sats \ 1 reply \ @endothermicdev 11 Apr
To be frank, this last month is the first time I saw Bitcoin not behave like the typical risk-on asset it’s long been lumped in with. It didn’t act like quite the safe haven gold has, but it has firmed up in its beta with the overall market.
I want to be clear: it’s still early, and this trend could reverse on a dime. But this month has felt like a potential break in the pattern—like we might be witnessing the first glimmer of Bitcoin decoupling from risk on, and drifting towards safe haven.
There's a long way to go yet, but it does feel like bitcoin the monetary network is transitioning to a new era. (I'm also encouraged by the record high 1 zettahash hashtate as miners turn on even more hashpower in the face of global trade and monetary uncertainty.) As someone who was sick of seeing bitcoin trade as just another leveraged tech play, this is really quite exciting development. Once it establishes a safe haven reputation, the game will be in full swing.
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150 sats \ 0 replies \ @unschooled OP 11 Apr
The hash rate news is huge, and surprisingly, I didn't see it come up here on SN this week (very possibly, I could have missed it).
"Decoupling," a term that got tossed around fairly haphazardly to my estimation, is too strong a term as of yet. But there certainly is some tendency in that direction.
Once it establishes a safe haven reputation, the game will be in full swing.
Will be exciting to see that cat finally let out of the bag!
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0 sats \ 0 replies \ @Akg10s3 11 Apr
"The message is clear: the world is starting to hedge against the dollar."
This phrase is absolutely true. Trump's cunning yet desperate action with the tariffs further exposed the flaws in fiat money. The flaws in the "Mighty Dollar."
I'm going to pile on.
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