>30x’d overnight, still up >10x

Not bad

Though not great

Still think those are some pretty good rules

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Massive

But totally incomprehensible to most though

Meaningless

What hits much harder for me —

Back in 2013 / 2014, tons of us were creating tiny crypto startups, each raising $100k or more

Many of those turned out a net-win for all involved,

but,

EVERYONE had the same recurring thought in their heads at the time

— What if we just totally broke all of our promises we just made to the VCs?

— What if instead of building what we promised, we just did NOTHING, no work!

— What if instead, we just put all the raised money into buying BTC, making the companies just be a vehicle for holding BTC?

Well, ZERO of the hundreds of startups that I knew of did that

Had they, though, and had they stuck with it

— they’d each be worth a minimum >$100M today

Or, realistically, they would’ve found it easy to raise additional money at each successive wave peak

= they would’ve easily EACH been worth more than $1 BILLION today

EACH

Every single one of those THOUSANDS of tiny crypto startups back in 2013/2014, that you never heard of, could’ve been a $1B company today

ALL OF THEM

WITH ZERO WORK

Nearly everyone was thinking it

All of them had their hands on the money, and technically 100% authority to do this, had they chosen to

Zero of them, AFAIK, did it

…apparently just because none wanted to break the loose promises to the VCs about what they’d do with the money

…and even though no such promise really technically existed…

Every single one could’ve been a billion dollar company today, with basically zero work

Much more mind-blowing to me than the pizza story

— Mostly because, unlike with the pizza story, basically every single one of those startups were thinking that they should just bet it all on holding crypto, instead of working, but none did, due to perceived rules that didn’t even really exist

(What’s equally surprising is that this may NOT be true anymore, especially for BTC, with its log-log declining rates of return — Beware being one of the generals always preparing to fight the last war.)

Lessons there.

Though not 100% clear what those lessons even are.

Think about it.

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Biggest blackpill doompost

— Those $100 bills blanketing the sidewalk,

which we walked by every day for our entire lives, always ignoring,

because we thought they couldn’t possibly be real?

THEY WERE REAL

🐻🐻🐻

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Checking out $BTC’s monster overnight gainz like

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+8% on the month

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$BTC back under $100k

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🚨 MASSIVE $BTC dump, $97k down to $91k in 3 minutes

Weirdly, $SOL largely resisted, as you can see by the huge spike in SOL/BTC, though it still tanked a bit

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Strange things happening

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Markets skittish

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2700 $BTC = about $270 million traded at the peak minute there

Rumor so far is that someone using Binance fat fingered a trade, and then that triggered a bunch of cascading dumping

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Looking like SOL/BTC was right to instantly spike, if it was rightfully a big fat-fingered trade

Now quickly on the way to fully recovering

SOL/BTC signal ftw

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