1/ #Bitcoin grows in “hype cycles” that mimic fungal reproduction.
We’ve entered "Stage 2: Mushroom" (bull market)
Quick thread 👇
We’ve entered "Stage 2: Mushroom" (bull market)
Quick thread 👇
2/ Fungi 101 (for the uninitiated)
Fungi primarily exist as "mycelium." Think underground internet that connects a forest to create a super-organism
Fungi reproduce by producing mushrooms that release spores (~seeds)
Lucky spores create new fungal colonies & cycle continues
Fungi primarily exist as "mycelium." Think underground internet that connects a forest to create a super-organism
Fungi reproduce by producing mushrooms that release spores (~seeds)
Lucky spores create new fungal colonies & cycle continues
3/ Stage 1: Bear Market (Mycelium)
Majority of a fungus' life is underground. Quietly mining resources and trading with neighbors
Most of bitcoin’s life is boring (no hype). However, the hodlers underground are learning, self-custody, running nodes, building businesses, etc
Majority of a fungus' life is underground. Quietly mining resources and trading with neighbors
Most of bitcoin’s life is boring (no hype). However, the hodlers underground are learning, self-custody, running nodes, building businesses, etc
4/ Stage 2: Bull Market (Mushroom)
When conditions are right (temp/humidity), the fungus produces a mushroom (reproductive organ) above ground.
Similarly, when conditions are right Bitcoin explodes into life, newcomers join the network, media frenzy, price rises
*We're here*
When conditions are right (temp/humidity), the fungus produces a mushroom (reproductive organ) above ground.
Similarly, when conditions are right Bitcoin explodes into life, newcomers join the network, media frenzy, price rises
*We're here*
5/ Stage 3: Euphoria (Reproduction)
When mushrooms reach maturity, they reproduce by releasing spores, then quickly decompose.
After Bitcoin hits peak euphoria, price falls, it fades into obscurity, casual participants exit. But not before capturing new mindshare & capital.
When mushrooms reach maturity, they reproduce by releasing spores, then quickly decompose.
After Bitcoin hits peak euphoria, price falls, it fades into obscurity, casual participants exit. But not before capturing new mindshare & capital.
6/ Stage 4: Integration (Colonization)
Most fungal spores don't survive. However, some land nearby, form new colonies, and the cycle continues.
Similarly, most newcomers don't survive the bear market. However, some form new colonies, become hodlers, and the cycle repeats.
Most fungal spores don't survive. However, some land nearby, form new colonies, and the cycle continues.
Similarly, most newcomers don't survive the bear market. However, some form new colonies, become hodlers, and the cycle repeats.
7/ I originally explored this concept in "The Mycelium of Money" series.
The twitter threads summarizing the essay have been seen by over 1 million people. 🤯
Thread
Essay
brandonquittem.com/bitcoin-is-the…
The twitter threads summarizing the essay have been seen by over 1 million people. 🤯
Thread
https://twitter.com/Bquittem/status/1072864756296486913
Essay
brandonquittem.com/bitcoin-is-the…
Mush love to everyone who supports crazy ideas like this
@danheld @dergigi @Breedlove22 @TheCryptoconomy @CitizenBitcoin @AleksSvetski @nic__carter @michael_saylor @EmersonSpartz
@danheld @dergigi @Breedlove22 @TheCryptoconomy @CitizenBitcoin @AleksSvetski @nic__carter @michael_saylor @EmersonSpartz
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