AUSA Sassoon: You called people on Crypto Twitter "Dumb motherf*ckers"?
SBF: A subset of them, yes.
AUSA: Isn't it true you thought that regulation would help you take market share from Binance?
SBF: That would be a pro. There were cons.
Current situation:
1. Stocks are falling like a recession is coming
2. Oil prices are rising like there's no recession in sight
3. Interest rates are rising like we have 10% inflation
4. Gold is falling like inflation is gone
5. Housing prices are rising like rates are falling
6. Commercial real estate is falling like its 2008
Nothing adds up here.
Consider that almost nobody expected the top of last cycle to be so low and everyone 'knew' $BTC was going to 100k. It would be poetic if the bottom mirrored this.
The widely accepted bearish macro narrative is compelling and I'm hard-pressed to come up with any FA to dispute it. For that reason, I'm positioned long. Always bet against yourself.
The forces of uncertainty lurk out there, ready to make fools of us all. Everyone 'knows' the bear market will continue, at which point everyone 'knows' it will go back up. That's a recipe for a much needed humbling for people who have been too right for too long.
Usually theres a build up for the 'big release' thats going to turn everything around, then you see activity drop off a cliff when it's released and does nothing.
It's fun to do the equivalent of vandalism/graffiti in once actively moderated channels. FOR A GOOD TIME CALL...
I always liked dead malls and urban exploration of abandoned buildings, things like that. Now the equivalent exists in the metaverse with all the abandoned discord servers from dead projects. You can browse servers with 20,000+ people where nobody has said anything for months.