There's something special about content created before AI was everywhere: you don't have to wonder if it was AI-generated. You can just enjoy it, and the "proof of work" it represents.
This article I wrote in 2021 couldn't have been written with AI. The artwork I minted 8 years ago today (!) couldn't have been made with AI.
It's crazy that era is over. AI can create almost anything. But it will never be able to create an NFT from 2018.
1/10
Everyone is focused on price.
I’m focused on market structure.
My thesis:
Crypto hasn’t broken.
Crypto has matured.
And the setup looks surprisingly similar to the transition from 2015 → 2017.
🧵
10/10
My view:
This doesn’t feel like capitulation.
It feels like transition.
BTC built the foundation.
The next phase may belong to the assets powering the crypto economy itself.
If history rhymes, ETH/BTC becomes one of the most important charts of the next 12 months.
1/10
Everyone is focused on price.
I’m focused on market structure.
My thesis:
Crypto hasn’t broken.
Crypto has matured.
And the setup looks surprisingly similar to the transition from 2015 → 2017.
🧵
9/10
What would invalidate this thesis?
• Institutions stay BTC-only
• Ethereum fails to capture value
• Regulation hits DeFi
• Global recession crushes risk assets
Every thesis needs risks.
Ignoring them is how investors get wrecked.