Happy Saturday everyone.
It was a Zoom and paperwork week for me which meant five days of sitting in front of my desktop. I am addicted to my new iMac. It is my work machine of choice.
Tomorrow, Ellen and I are off to New York again and then Toronto for a few days. I want to see ‘The Lehman Chronicles’ and ‘Jagged Little Pill’ on Broadway.
We watched ‘Dopesick‘ this week which I highly recommend. Dopesick the book I hear was incredible and the HULU series is full of great performances. The story itself is horrific. As a nation we should be ashamed. I am grateful it has not touched our close family.
I am also grateful that our family has been Crypohealthy the last few years.
Fred Wilson has a great new post up for people that are looking to get started today. Have a read.
Ever since I first writing about Bitcoin on my blog, I have followed just a few people – Yoni Assia, Fred Wilson, Chris Dixon, Vinny Lingham and Kyle Samani. My good friends Jan Van Eck, Mike Dudas , Justin Paterno and Chris Cantino have taken me deeper into the space and helped me understand NFT’s and the web 3.0 ecosystem.
They are the team that keeps me cryptohealthy.
I was searching my blog for when I first wrote about Bitcoin. It was the year 2013. I wrote ‘Bitcoin…Winning?’
I got a lot right…
My good pal Yoni at Etoro who I think is way ahead of the curve on these things is a super bull on the idea of bitcoins. Yoni is the founder of Etoro (I am an investor).
A ‘bitcoin’ is a decentralized and digital currency.
You can make fun of it but it feels like it is here to stay this time.
Bitcoins have had two crashes to date, the first one slowly taking it’s value down 80 plus percent (a few years ago) and yesterday there was a bitcoin flash crash (the coins are back near all-time highs).
I would rather go to Mt. Gox, than Detroit! As Stocktwits grows, I will make that our second home.
Here is a simple Bitcoin converter.
The Bitcoin or something like it is now here to stay. Trust has truly jumped the shark and combined with the cloud, our lunatic monetary global policies, mobile phones and explosion in startups and apps without business models, barter is back.
Ebay is rising, Visa is rising, Square is rising, trust is falling and the cloud and mobile are winning.
I am heading to Zillow $Z to check condo prices on Mt. Gox.
Howard here again…I am grateful that I did not go all in on Bitcoin that year because I likely would have lost it all in Mt. Gox which would be worse than not owning it at all. But, not much has changed and Yoni has not wavered.
Why look for new voices when the original voice (Yoni) has been so right.
I read a great post this week from Arthur Hayes which hit home. The gist:
Bitcoin and the broader crypto ecosystem provide two useful services to humanity. Firstly, they offer a different way to organise and incentivise humans in a decentralised fashion through superior technology. And secondly, they act as the only working smoke alarm in the global financial system.
If government bonds provided a real positive yield that compensated holders for inflation and future growth, there would be no reason to use bitcoin and other cryptos as an inflation hedge. Cryptos would only trade on the basis of whether a particular project could provide useful and transformative technology to humanity. Unfortunately (or fortunately, depending on the heaviness of your bags), a majority of shitcoins out there are just liquidity sucks. They pump because the temporal value of money has been so greatly perverted, it makes no difference whether you invest in dog money or a productive enterprise. In fact, it makes more sense to buy dog money because at least it is a liquid market that trades 24/7. Investments in actual businesses that produce good for humanity are illiquid, hard to value, and available to only a select few.
And so, as we close 2021, I remain cautiously bullish that the substrate of central bank money printing will continue to foster sick gainz for all manner of crypto assets.
You can ease into being cryptohealthy a lot easier than the year 2013, you just have to pay higher prices.
