Weirdly, as Bitcoin has no fundamentals at all (it is the purest Ponzi), I have never had a serious urge to ever short it. Whereas any stock that gets disconnected from future cash flows starts tugging at the back of my brain at some point. Maybe I can learn something from this. https://twitter.com/2170cell/status/1345592981877706753 …
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Replying to @MidwestHedgie
drew Retweeted drew
I wouldn't say no fundamentals at all!https://twitter.com/drewg__/status/1344139158898540544?s=19 …
drew added,
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Replying to @drewg__
nah, i think your model would correlate until it suddenly doesn't. different, but related, from our letter this month:pic.twitter.com/LLcypFV8Zp
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Replying to @MidwestHedgie @drewg__
I remember ppl saying after the BTC crash last time that the floor on the price ended up being near the cost of the electricity in China where most of it is mined.
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if we can all agree btc is just weird energy trading derivatives i’ll agree to think it’s not the worst thing to happen to finance discourse
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Replying to @theemilyaccount
I’m 100% on board with this, and my personal thought is that we’ll see big electricity-trading shops running Bitcoin mines on the side to capitalize on cheap wholesale power prices
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Replying to @joshgiersch
i will be paying close attention to the energy side of the internal wiki in case i need to leave immediately
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Replying to @theemilyaccount
Confession time: I always thought energy would be way more fun to trade than FX. Markets with weird supply/demand constraints are always my favorites
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I used to think this until I had to work with the energy exchanges lmao
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