"It is the mark of an educated mind to be able to entertain a thought without accepting it."
– Aristotle
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Happy Sunday Folks! Yes, very rare for me to post on Sunday but I thought I take this opportunity to jot down my thoughts as it pertains to the State of Crypto. Normally I'd provide these thoughts on my show Bitcoin is Freedom which typically airs at 1PM CST on Sunday's but my producer is not feeling well so I decided to turn it into this post instead.
The situation with FTX has made me reflect more on the Crypto industry as a whole and forced me to ask myself "Who Can I Believe" in this industry? Since 2011 there were many voices that I had come to believe were provide good information about the industry and over the years they keep dropping one by one.
Blockchain technology (as we know it from Bitcoin) and the industry around it just turned 14 years old and I have not committed the time to fully understanding ever aspect of the technology and industry. Instead I listened to the voices around me to discuss it via news, videos, podcast, blogs, and social media to provide information that can help me understand it.
It is clear that these voices, some out of sheer ignorance, greed, misguided intentions, and/or self aggrandizement, can no longer be believed as a reliable source of information. The hot mess, dumpster fire, train wreck that is FTX and Alameda Research, shows how deep this goes. However, I do agree with Joshua Frank in that I don't believe everyone can be depicted by my previous statement. That said, more scrutiny, by myself and I encourage you as well, should be given to who we believe. Who and what you believe can heavily influence your financial future.
So where does that leave me? BITCOIN. Bitcoin is freedom for me because I believe it to be the only decentralized, censorship resistant, technology on the planet. Tick tock next block and it has continued to do that for the past 14 years. There is no company, no leadership, no fraud, no way for it to take advantage of you. Bitcoin has never been hacked. Bitcoin has provided us with a financial fortress over the past 14 years that could never been achieved in lifetimes if you stack sats and HODL.
I am not a Bitcoin Maxi and I don't believe every project is headed to zero BUT I BELIEVE Bitcoin to be the ONE asset that will survive regardless of what happens around it. Legislation, regulation, and/or governments have tried and failed to contain it. Bitcoin is Code. Code is Speech. Therefore Bitcoin is speech and is protected by the 1st Amendment.
Going forward, I will do my best to only provide you with the best curated news and information, weeding out the voices as I discover them to be not believable. I've had some of you tell me in the past a source shouldn't be believed and I've adjusted if you've been paying attention. I won't get into names right now but if you watch my briefs you will see that the sources will be heavily scrutinized.
"No one Knew" "We had no idea" We hear this time and time again but you know what? Someone knew, someone had an idea and MANY refused to listen to them or they were silenced by the those who were making it rain. Blinded by the money, fame, glitz, and glamor. Many of these people were paraded on CNBC, Fox Business, etc. Stop - just STOP. It's not about blaming these companies and their executives - it's about holding them accountable for luring people in and doing a piss poor job.
In closing, one last thing I will touch on: INFLUENCERS. Be incredibly careful who you listen to. I hope you realize that many of these people who are labeled influencers are being paid to do so; YouTubers, Podcasters, etc. They pump brands and products because they are making a boat load of money doing so. I've pushed brands in the past and my track record isn't stellar either. KeepKey, iTrustCapital, Celsius, Voyager, BlockFi, Gemini, Kraken, Stike, CashApp, SuperCoffee, Forward, Roundlyx, Kyte, Unchained Capital, Forward, etc. Yes, I too got caught up in the CeFi crazy train and got wrecked right along with everyone else. I've learned my lesson and hopefully you will to.
