$BTC: Two Bitcoin FUDs to address this Thanksgiving weekend:

1. China PlusToken FUD: Old news. Please see linked thread.

2. U.S. Treasury FUD: Read thread below...

1/ These news are much more relevant, as they imply severe trade-offs for people who want to keep their bitcoins undoxxed, with the cost and risks of doing so. I would not disqualify the tweet as mere FUD in the sense that what he posted is false. It should be taken seriously.
2/ For all we know, his decision of making it public before TG weekend may come out of the urgency of informing CT of a poignant anti-Bitcoin move by a Trump administration trying to cut lose ends before leaving office—not just "price manipulation" as I've seen suggested around.
3/ It implies the acceleration of a process already planned for for months in advance, not something he just came up with to "crash the market."
4/ In practicality, assuming this passes, it will have two major consencuences:

a. Armstrong's analysis is correct. And I would go further in saying, this regulation would leave the U.S. severely handicapped to continue to be the leader in the cryptocurrency industry worldwide.
5/ b. It would bifurcate major market actors into two camps. For the sake of simplicity, I´ll call the former the "Conservationsists" and the latter the "Integrationists."
6/ Conservationists are mostly old Bitcoin money, big early-adopter HODLers who believe in Bitcoin's value proposition as a whole, including scarcity, pseudonymity, untraceableness, and unconfiscatableness.
7/ Integrationists are mostly new Bitcoin money, insitutions and HNWIs who value only Bitcoin's scarcity and its capacity to accrue value over time. They also believe that BTC needs to be integrated into the legacy financial system.
8/ Frankly...

The former see the value of Bitcoin as a mechanism to protect individuals against government overreach, as well as save and invest their property in a permissionless manner.
9/ The latter would like to see it taxed to build roads, it seems. They like ETFs and already protect their investments within safe haven jurisdictions.
10/ What does this mean for price direction long-term? In my opinion nothing changes...

Conservationists will continue to HODL (with the added incentive of keeping their coins burried for no-one to find, so even less sell pressure there).
11/ Integrationists will see this as expected or needed or "a trade-off" and continue to buy and hold.
12/ What does this mean in terms of narrative in public debate?

Privacy and ownsership, even more so than price, will be the most contested subjects in Bitcoin in the next few years.
13/ To clearify, a lot of people don't neatly fall in either of camps. Some are apathetic, undecided, a certain mix of both. Also, let's not confuse all major players with insitutional or legacy pedigree as Integrationists:
14/ Jack Dorsey, Cathie Wood, and Michael Saylor, for example, don't strike me as Integrationists at all, as they have supported Bitcoin's entire value proposition in the past. Notice how two of them are also OGs.
15/ I'll leave examples of Integrationists diguised as Conservastionists for you to come up with...
Fin/ In summary, the fundamentals remain the same, so in my view even if we continue correcting ($14k, 12k, or whatever), the cause would be simply out of major market actors taking profits with the aim to buy cheaper.

More from Bitcoin

1/THREAD: WHEN WAS IT CLEAR?

Oct. 8, 2020: The purpose of this thread is to document and timestamp when it first became clear that #Bitcoin was likely to become a major reserve asset for public corporations, and eventually states, with Square's purchase of $50M in BTC.

The purpose is to give something to cite when ppl later claim "But there was NO WAY OF KNOWING..."

h/t @ErikSTownsend who used the same format to call out the impact of Covid on Feb 8 and made me personally aware of the looming shutdown of the country
https://t.co/opuiNgSeqC !


Bitcoiners smarter than me have been predicting the takeover of the dollar by Bitcoin for many years.

In 2014 with Bitcoin barely at $1B, @pierre_rochard wrote https://t.co/EGHa58KqHq, covering all the incorrect narratives of Bitcoin and stating it will overtake the dollar.

"[skeptics] misunderstand how strong currencies like bitcoin overtake weak currencies like the dollar: it is through speculative attacks and currency crises caused by investors, not through the careful evaluation of tech journalists and 'mainstream consumers'" - @pierre_rochard

I first became bullish on Bitcoin in the summer of 2016, around a $3B market cap, but it was still a toy project at that time in the eyes of most in the financial world, while many technologists thought of it as a v1 technology to be improved on.

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"I really want to break into Product Management"

make products.

"If only someone would tell me how I can get a startup to notice me."

Make Products.

"I guess it's impossible and I'll never break into the industry."

MAKE PRODUCTS.

Courtesy of @edbrisson's wonderful thread on breaking into comics –
https://t.co/TgNblNSCBj – here is why the same applies to Product Management, too.


There is no better way of learning the craft of product, or proving your potential to employers, than just doing it.

You do not need anybody's permission. We don't have diplomas, nor doctorates. We can barely agree on a single standard of what a Product Manager is supposed to do.

But – there is at least one blindingly obvious industry consensus – a Product Manager makes Products.

And they don't need to be kept at the exact right temperature, given endless resource, or carefully protected in order to do this.

They find their own way.
This is NONSENSE. The people who take photos with their books on instagram are known to be voracious readers who graciously take time to review books and recommend them to their followers. Part of their medium is to take elaborate, beautiful photos of books. Die mad, Guardian.


THEY DO READ THEM, YOU JUDGY, RACOON-PICKED TRASH BIN


If you come for Bookstagram, i will fight you.

In appreciation, here are some of my favourite bookstagrams of my books: (photos by lit_nerd37, mybookacademy, bookswrotemystory, and scorpio_books)