i wonder if wall st bitcoin or the ai bubble will deflate first i am preeettty sure they go together even tho they're not the same thing. just because the whole system is running on fumes and frantically faked numbers. it's an everything bubble, or more of a hot air balloon, with guys on the pumps
Sir, I do have a follow up question: we saw two crypto crashes, but bitcoin is still not dead. Which silver bullet does it need? And isnt it unusual that a thing survives two crashes? Asking for a telephonecards- and postage stamps investor.
i'd need a workable definition of "dead". i had already predicted that bitcoin would be around for decades, as long as there's two nerds who want to swap tokens. it was functionally not doing anything in 2024, it was then revived by Trump. it still hasn't interest from anyone except rich crooks.
Ransomware payments are still a huge market I think. So, perhaps it lasts a while? Plus, people will want to buy illegal things, it's good for that. Dark web drug purchases.
seems likely that the shock of 1 of them failing will rupture the other one, yeah.
I'll bet we find that there is a new kind of debt that blows the economy up, just like no one realized just how bad 2008 was actually going to be.
I think it's that it's the same set of people trying to do it. The fondest dream of the AI/buttcoin people is that they can get fabulously rich by creating a fake economy, with fake currency and fake goods that requires no actual participation by humans
oh yeah, lotta AI and crypto is literally the same individuals (esp a16z)
not the same thing but it’s like two dead tress leaning against each other. One slip and they both can come down
no that's a pretty good analogy. Trump admin response is to pile on more dead trees. the 2008 banking phrase was "drunks propping each other up" (which is actually much older, but it was in currency in the GFC)
Recently saw crypto described as “financial rat poison”. Seems appropriate.
Pretty tangential but have you seen this? Absolutely wild www.youtube.com/watch?v=et8R...