Good morning nostr! 💜🧡 #coffeechain #plebchain #grownostr
Some thoughts after the fakeout yesterday:
The excitement around the #Bitcoin ETF is undeniable.
I think the sad reality is that most realize, subconsciously or not, that without institutional capital coming in, we are not going to see another major bull cycle anytime soon. And with that no hype, no validation or big adoption wave coming. Instead a slow grind of adoption and then a possible rush at some unknown time in the future.
We've becomed accustomed and addicted to the four year cycle, and are now expecting our reward. I think the thought of not having a post halving bull market is terrifying to many bitcoiners. Not only would we not get the pump, but there would be no more regularity you could point to that would *guarantee* the next pump in the future.
If Bitcoin doesn't continue to go up in value, then the value proposition and incentives don't work. It's all reliant on NGU.
Ultimately I think NGU DOES work, and that Bitcoin WILL continue to go up in value. But if we want to be bulletproof then we should not expect or rely on the cycles playing out in the same way.
worshipbitcoin
npub1w4…5j067
2023-10-17 07:17:02
Author Public Key
npub1w4j2y74wx24sckf7ymgnf3r4gp0yqd8huw8kzfyt2lj8lhmh7ujs75j067Published at
2023-10-17 07:17:02Event JSON
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"content": "Good morning nostr! 💜🧡 #coffeechain #plebchain #grownostr\n\nSome thoughts after the fakeout yesterday:\n\nThe excitement around the #Bitcoin ETF is undeniable. \n\nI think the sad reality is that most realize, subconsciously or not, that without institutional capital coming in, we are not going to see another major bull cycle anytime soon. And with that no hype, no validation or big adoption wave coming. Instead a slow grind of adoption and then a possible rush at some unknown time in the future.\n\nWe've becomed accustomed and addicted to the four year cycle, and are now expecting our reward. I think the thought of not having a post halving bull market is terrifying to many bitcoiners. Not only would we not get the pump, but there would be no more regularity you could point to that would *guarantee* the next pump in the future.\n\nIf Bitcoin doesn't continue to go up in value, then the value proposition and incentives don't work. It's all reliant on NGU.\n\nUltimately I think NGU DOES work, and that Bitcoin WILL continue to go up in value. But if we want to be bulletproof then we should not expect or rely on the cycles playing out in the same way.",
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