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Let's say someone agrees that bitcoin price is a reliable signal, what is the call to action? Imo, the price represents a kind of anti-demand for USD and it is
by motohagiography 5y ago
Let's say someone agrees that bitcoin price is a reliable signal, what is the call to action? Imo, the price represents a kind of anti-demand for USD and it is a general fiat hedge, like a volatility index for capital flight by working people.
"Pessimists sound smart, optimists make money." is a quip that has resonated with me a great deal lately, so while I have opinions about what implosion looks like, what is the strategy to benefit from it? Framed in that context, yes, I'd agree with Thiel if he were saying we're watching the "all at once" phase of a slow decline that started a decade or two ago. However, what could one be optimistic about in that situation?