Selling Bitcoin.
Closing large positions
Sold +60% of memecoin bags
Sorry not sorry.
I'll change my mind if we are back above $117k.
Untill then, its just useless chin-wagging and rehashed talking points from 2021.
Thesis below ๐งต....
zcash had a counterfeit vulnerability in 2018 and it wasnt disclosed until it was fixed in 2019.
real supply could be infinite and the tx history is private so nobody knows! cheers ๐ฅ
Newsy Johnson
@NewsyJohnson Correction
It had been around since 2015, they just didn't disclose it until after patching it.
A similar thing happened with a new vulnerability in 2022.
And now, most recently, you hear a third exploit.
After selling $ETH, I immediately took ~50% of the capital to VVV, NEAR, ZEC, HYPE
I left the rest as capital to DCA into something not already up multiples (other than NEAR, which was ~1.40 at the time.
I've finished buying $LIT with that remaining 50%
dont let a celebrity border collie with 1.5m followers being stolen and eaten distract you from the fact that polymarket stole hundreds of thousands from users on the may microstratregy market
The recent Zcash discussion is not new ser,
Its almost a decade old.
The initial coin-printing bug surfaced almost after 1year after launch (2014-2016), it went hidden and relatively secret for over 3 years!!
It was brought to public attention in 2018.
Could have been abused by many entities, printing and concealing tens of millions of coins for all anyone knows, especially the foundation itself for all anyone knows.
The fact that people only care when their bags are down is also troubling (Not reffering to @DBCrypt0).
The fact that this is now the THIRD TIME, is even more troubling.
Holy ๐คฏ
4.2 million $ZEC sat in a shielded pool with a double-spend bug since 2022!
Then Zcash emergency-forked twice in 48 hours to patch it and ZEC dropped 25%
The foundation says it was never exploited
But because itโs shielded we mostly have to take their word for it ๐
Reason #1 why I don't care about stablecoins: they're tied to fiat currencies, which dump to zero and never go up.
The US dollar, the king of the shitcoins, is down 4.76% against.... the Argentine peso this year. ๐ฑ
Get some real money. Get scarce crypto or precious metals.
The recent Bitcoin dead cat bounce is very easy to explain.
Ever since 2024, a large part of demand comes from institutional interests, their average entry zone was seen as a support/buy area. This happened to coincide with Bitcoins price zones $60k - $70k .
It seems that they have now finished accumulating at this range.
No more buying = Price going down
4-year cyclers look pretty smart right now, I'll give em that.
What I don't get is the equivocation - when asked what csuses the 4 year frequency specifically, they generally say it's macro/risk/liquidity conditions.
But that's my position. And we know that doesn't necessarily keep a 4 year beat.
Let's see how the year plays out.
Happy to be wrong and see "perfect" 4 year timing play out once again, if it means we learn more.
If you are cheering for the 4-year cycle to play out again, you are cheering against Bitcoin.
The 4-year cycle is one of the worst things long-term for Bitcoin's adoption and reaching its true potential as a global asset.
If Bitcoin is perceived as a speculative asset that follows some magical 4-year cycle, it will remain a sideshow speculative asset.
For Bitcoin to remain something that everyone sells or trades every 4 years for no reason other than that 4 years have passed is a horrible narrative.