Rarely seen him make a bad call
Get long or be wrong... pic.twitter.com/Bv2snPsd1s
— Michael Ballanger (@MiningJunkie) July 13, 2021
More from Gold
From 1850 to 1990$ - the GOLD is getting more interesting. I will be adding up more if the resistance is taken off and the price follows through.
GOLD https://t.co/l6pEGDpAkL
GOLD https://t.co/l6pEGDpAkL
Most interesting chart:
— The_Chartist \U0001f4c8 (@charts_zone) February 12, 2022
Orange line = Gold
Blue Curve = Gold/S&P 500
Previously the ratio crossed 50 days MA in Feb' 20 with Gold giving a breakout on the charts. The previous cross of 50 days MA didn't result in gold breaking out. pic.twitter.com/HRG1fvsILp
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.