Cryptocurrency / bitcoin bubble

I talked about it a little before, but after reader KILLZONE posted this twitter: https://twitter.com/FloydMayweather/status/908497015704739840

It made me think I need to do another post on it. I was VERY skeptical of crypto currency (the idea of having money in the void that somehow meant something) but after about a month I got into it.  I don’t do things half hearted and went hardcore into it.  I got scammed by one guy along the way, but have made a few thousand.  Nothing insane but really good for me.

That being said, I am planning my retreat out of crypto sooner rather than later.  ‘It cant be a bubble’ etcetc.  There is a good saying somewhere that you should sell your stock when you hear your cab guy talking about it.  That is what we are hitting in crypto land.  ‘Normies’ are getting into it.

I consider myself very tech literate (even though I hate smart phones) and honestly I barely understand crypto, it is easy to say 90% of these guys in it are FOR SPECULATION ONLY.  Altcoins really exemplify this, no one knows wtf they do, but you get good ‘gains’ off it.

What it comes down to is a lot of that stuff can be tracked, and its kind of useless, wtf is a ‘distributed ledger’ actually good for?  Why the hell would it matter if there is proof of you buying a pack of gum 20 years ago and its locked in for all eternity?

With gov control, pure speculation, nothing backing it up, and dangerous ‘normie approval’ zone hitting, its time to get out.

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3 thoughts on “Cryptocurrency / bitcoin bubble

  1. EK…

    You’re not envisioning yourself as “currency” practicing in the art of “crypsis.”

    Accounting is crucial to assessing reality.

    A distributed ledger is transparent accounting and thus a peep at a certain bounded reality.

  2. The global internet infrastructure is exactly analogous to the human brain. It grows in volume and density theoretically increasing its energy output.

    A.I. is built upon “open-sourced” human experience mass-mined and used to build a near-infinite library of virtual simulations that can then be uploaded into the human bot.

    IN THE MEMETIME…

    There is this colossus of a global “machine,” much like a single human brain, which is only utilizing 10, 15, 25, 50%, etc. of its total capacity. There is real energy to be “mined,” hacked, stolen, diverted, siphoned, etc. And there is inherent value to this untapped/unclaimed/unused energy just as if it where an acre of dirt land somewhere or someplace.

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