Tweet from 2025:
"Can you believe #bitcoin
even got to 60k when no one was ever able to articulate a legit use case?"
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The price of BTC is 100% disconnected from the utility it creates (to enable online payments for the crime economy). So we can't really say what price level it will or won't reach. It's 100% about hype and greed. There could be an even bigger hype bubble in a couple years.
Like, it's not rational that GME has been trading over $150 for the past few months. But it's happening. Anything can trade at any price as long as you can convince random people to buy it. There's no point in analysis the fundamentals of a meme.
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We're in the super-symbolic economy. The only software that matters is that you can get to run on human brains. Belief===value. Its strange. Pure faith rules our reality.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Reality always settles in, even if we have to wait for a long time, sometimes too long ....
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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But money is an idea, a shared story. There are no "fundamentals" really. There are just better stories and worse stories. Stocks or crypto coins or fiat money are the protagonists. Prices change as their narrative rises and falls over time.
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Crypto is the version that is most clearly *just* an idea. It is literally just code, a video game. As soon as we take the headset off, it disappears. All money is like this. But crypto is the least reassuring when things go badly because its story is that it is just an idea.
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