, 11 tweets, 7 min read Read on Twitter
I love reading @mikejcasey; he just gets it. When we disagree, it's only a matter of degrees. People often forget, especially on @twitter, the great #WestWing quote from Prez Walken: The things that unite us are far greater than the things that divide us. coindesk.com/bitcoin-facebo…
1) The more things speed up, the deeper the breath one needs to remember to slow things down. There are plenty of dull moments in the world of blockchains and cryptocurrencies when you peel back the hype and look for actual successful work and ventures...
2) A perfect example is the "two earth-shattering stories" of the past two weeks. They will, in my humble opinion, become mere blips on the radar screen in the months and years to come.
3) For example, the question should be "if" the Libra project from @facebook ever actually launches. I have this nagging feeling this is nothing but a brilliant #MZuckerberg head fake to scare regulators to leave him alone. He'll horse trade his crypto for your privacy.
4) The "wild swings in the bitcoin market" are likely, as @Bitfinexed says, more likely a product of #MarketManipulation than being cosmically tied to the announcement of #Libra. Until there is complete #Transparency in crypto, I will forever remain a skeptic. Right @Nouriel?
5) The next story was #Satoshi's vision. I think Mike glossed over the best story of the week: the #Kabuki theater that happened in South Florida with #CraigWright claiming to be #Satoshi but saying he's basically lost/locked out of his bitcoin. Read @stephendpalley for that...
6) I do agree that paper money is going the way of the DoDo bird (i.e. extinct), and I think Mike nails the line: Whether or not Libra succeeds, it confirms the inescapable reality that international money movements in the digital era will be based on blockchain-like solutions...
7) But focus on the words "blockchain-like solutions."
Nobody knows what the solution is ... YET. At some point, we'll get more clarification. But we're not there yet. Anyone who tells you differently likely has a stake in the outcome and is trying to sell you something.
8) When @mikejcasey and @ToneVays and @tylerwinklevoss and @winklevoss agree, watch out! But I'm with them: Bitcoin offers a level of censorship resistance and isolation from the politicization of money. But don't confuse "a level" with - it does. #WereNotThereYet
9) Mike and I, as discussed above, disagree on the drive from BTC $7,000 on June 10th to a peak just below $14,000 last week. Price movements like that naturally scare me, and I just don't believe this was accumulation or FOMO. #HopeImWrong #JustDoubtIt
10) I agree there's a "capital flight out of China and Hong Kong." This has been a natural recurring behavior over decades. I'm not convinced that anyone wants to use cryptocurrency that can't be converted into USD. #WhatExchangeYouUseMatters
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