Just writing Global Macro Investor over the weekend and as ever, I like to share a few insights.
The narrative on Twitter is that tech is dead. The reality is that the Nasdaq has just reverted back to trend - 150 week moving average 1/
"I still can't believe that this is the protest that would prove every Bitcoin crank a prophet. And for me to have to slice a piece of humble pie, and admit that I was wrong on crypto's fundamental necessity in Western democracies." https://t.co/9smNKyabm0
The metaverse platform that mainstreams play to earn by removing crypto friction & tying it into ENGAGING gameplay that keeps players playing even if there wasn't P2E. That platform is going to win.
I think projects slapping P2E onto mediocre game experiences won't survive. 🤔
I tried writing hot takes in response to @jack ‘s web3 and VC criticisms, but twice gave up after the drafts turned into rambling incoherent essays. Spent some more time to be able to write less. Here are my thoughts: /1
I admire the audacity of these bureaucrats spending wildly in ways that can’t possibly have an outcome other than rampant inflation, and then when inflation happens, calling it price gouging and threatening the companies with the DOJ. God mode gaslighting.
The more legitimate you become, the more you’ll be trusted with the simplest, but most pervasive, things.
Applies heavily to the #Bitcoin situation in El Salvador.
What this chart shows has not happened since at least 1974. It actually IS "different this time", if you're assuming "this time" is like the past 50 yrs in the US.
It is NOT different this time if you expand your horizons a bit, both geographically & historically.
Let's watch.
"…useless complicated math problems…"
@SenWarren if you believe #bitcoin doesn't ultimately shift power from banks & corporations (the ones you fight!) back to the people globally…you're right…useless. If instead you want to help us decentralize that power…math is critical.