![]() ![]() But rather that the name chosen for them, intends to convey that they describe something meaningful in the real world. It’s not that they can’t be well defined in a strict technical sense. “.How do you have low unemployment AND low labor participation without there being massive lying or distortion of real employment trends?”Īll popularly reported and endlessly regurgitated “economic” measures and “indicators”, are just simple, mindless, Newspeak. They desperately need more people to ignore the broken parabolas and buy on belief. Those still Hodling have become carnival barkers. Many Hodlers ignore all these issues, but the earlier believers made a fortune. And finally, what about Central Banks or governments ruling it illegal? It is a speculative plaything, even if the technology isn’t. Volatility makes Bitcoin useless as a day-to-day currency. What about barriers to entry? Here’s the answer: there aren’t any. ![]() OK, so why aren’t they? Will it matter if they are? Bitcoin does not scale (other cryptos claim to). If Bitcoin’s third parabola rises as much as the first two, the price target is $100,000.īut will there be a third parabola? If so, from where?įundamentally, there is no reason to expect one. On a log chart things do not look as messy, yet the parabola is clearly still visible, two of them in fact. Already at 1/3 of its peak, losing another 50% would be nothing Bitcoin is among the canaries in the coalmine of temporary speculative "wealth" born of deranged monetary policy. Broken parabolas typically collapse in phases w/blistering rallies in between.
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