I have to say this about "Fear Mongering" and "Making decisions based on fear." This has become a catch-all phrase that is intended to discredit the person who dared to let "fear" run them or spread this to others. You do realize fear is why we survived as a species?
Consider this. What stops you from walking out into traffic? Pretend for a moment there is traffic... bear with me here. I hope it's the "fear" of being crushed by a car which is actually completely rational. Why do we look left, look right, then cross the road?
Even if there's no car directly in front of me I can determine that if a vehicle is heading towards where I WILL BE, then I shouldn't try to cross the road right now. When we see a trend, like a moving car or spreading disease, we attempt to avoid a terrible outcome.
Now this... Deaths follow cases. You can't die from Covid-19 unless you actually HAVE Covid-19. As you can see, there's a striking similarity between the shape of these two charts, first the case, then the resolution into recovery or ...
Now let's cover the whole linear versus log scale thing again because it can be confusing. Here's a chart of the number of cases in linear scale for the USA. Note that it looks like nothing was going on until the last few days "it came out of nowhere."
Now a plot twist. If I went back in time and loaded that chart seven days ago what would it have looked like? Would it have been a flat line sort of leaning upwards, or would it look the same as it does now?
Answer: It would look the very similar as it does now in linear scale! Why? Because this is a logarithmic function and that's what it looks like in linear scale. It ALWAYS looks like the action is happening right now (axes autoscale). Compare that to log scale.
And now you can understand why scientists, quants, and other data nerds were making a big deal about this virus before it "came out of nowhere." Just look, here's a screenshot I took on February 14th. See how the trend was clearly visible even back then?
Here's February 16th, focusing on cases outside China. Data inside China was unreliable, so people started focusing on cases outside the mainland.
In order to get people to take action on what we know, it's necessary to raise their level of "give a fuck" from zero to some point beyond that. Can you risk going too far, sure. But since the alternative is getting run over by a global pandemic, err on the side of caution IMO.
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After reading @FriskyFoxDK's latest announcement in the DFK Discord I still believe the optimal strategy for capital allocators is to participate in the gardens, bank, and questing. Depending on stack size and liquidity I recommend gardens -> bank -> heroes in that order.
If you might need your capital right away, I would just start with the bank because there's no penalty on withdrawing whenever you want. If you don't mind being allocated for a month or more, the gardens are a great place to collect rewards.
If you're slightly more well capitalized and thinking long-term, heroes are the next logical step to juice your rewards and they actually provide a bit of a hedge against price fluctuations (jewel up, hero price in jewel down and vice verse).
There is a game that's relatively unknown right now called DeFi Kingdoms. I have been doing a deep-dive on this project over the last month and I have found it to be massively compelling for the following reasons.
1. It's properly positioned for the Metaverse mega-trend.
2. The total addressable market is huge, and this project is growing very quickly. I expect this to continue due to the fact that the team behind the game are executing on a very bold vision and hitting it out of the park. 3. The community is strong and growing fast
This month in #Bitcoin
- China boots miners out for real this time; hash power drop spooks market as miners relocate
- @Hut8Mining buys enough equipment to double their hash rate
- Bitcoin mempool remains operational despite a 50% drop in hash power
- Puell multiple hits green levels
- Michael Saylor buys another $600mm of BTC
- Taproot activation locked in for November
- El Salvador adopts Bitcoin as national currency and announces plans to mine Bitcoin using green power from a volcano
This month in Macro Fiscal/Monetary land
- ECB hasn’t raised rates in 10 years
- Fed has “muzzled the market” - Druckenmiller
- Stonks mooning like altcoins (AMC for example, larger than half the S&P up 70x this year)
- M2 increases 22% over the trailing year setting new record
Ok, here we go. It's time for another mega-thread on #Bitcoin, energy consumption, and net value for society. First of all, realize that all judgements of this sort come down to values. What do you value? What's important to you? Secondly, what does the data show? 🧵👇
I can tell you what I value. I care about human rights and global inequity. Bitcoin is one of the most potent technologies we've ever seen for protecting human rights. @gladstein
Bitcoin miners and their mining pools (1 hop and 0 hop essentially) still have a lot of supply. But as you can see, the long-term trend is downward for their stockpile.