So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it. https://twitter.com/gwestr/status/1066769641026969600 …
-
-
"Why are Bitcoin exchanges hives of scum and villainy?" Because if they weren't Bitcoin would be valued at its use value, not its speculative value. "Why don't we find a bottom in the market?" Because the use value is, to a reasonably accurate approximation, zero.
Show this thread -
Oh to be a character in a Michael Lewis book, seeing the world around him gone utterly mad and being virtually unable to stop it or profitably trade it because of market microstructure. *sigh* Hey narrator, make this book more like the Big Short and less like Flash Boys, please.
Show this thread
End of conversation
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.