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1) Stupid because it’s still likely to go to zero. 2) Evil because it undermines the Federal Reserve System. 3) Makes us look foolish compared to the Communist leader in China.
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Their canon is to attract new capital by allocating it to stuff and ideas with tangible value that generates broad-based returns When enough capital is attracted to intangible value created by an anonymous entity that glorifies perpetual hodl .... ...heresy, infidel, magic