BRF #48 What is really going on?
Lets take a step back and just look at the last 2 years, I mean its been utterly insane the amount of sht people have endured now and its no wonder so many are left confused.
This meme hits home.
Let’s unpack a bit here, it would seem like the timing of this Russia invasion was perfect (as usual), it let the Fed off the hook so no rate hikes required, its evil Russia that destroyed the UpOnly stock market. That also killed c19 apparently as I don’t hear much about that now and it seems everywhere is quickly dropping all mandates, poke passes etc. This also ran nice cover for Pfizer who had a data leak of 8+ pages of poke side effects that were due to be released in 97 years, squashed the Freedom Convoy in Canada and who knows what else.
Now turning to crypto for a minute, I know there was the big scare about peoples crypto assets being frozen from the freedom convoy but apparently that didn’t actually happen and was an empty threat as it proved to be way to hard.
Next we had metamask “accidently” block services in Venezuela citing compliance with laws, and Iran as well, later I heard some state this was done at the country level to block IPs but truth is probably a bit of both.
Big wake up call for those who thought MM was safe, proves yet again centralization of these core pieces of ecosystem just doesn’t work long term!
Opensea is blocking Iranian IPs as is metamask, opensea had this to say
So much for “web3”.
I think a lot of people are starting to see that no bitcoin doesn’t just magically fix all this and its NOT the finish line, even though its a hell of a start. I think that ending your thought process there and then ruthlessly trying to defend all Bitcoins downsides so you don’t look stupid is intellectual laziness.
The biggest question with Bitcoin is what will happen when the ETFs roll out, because I have a hard time believing this won’t follow in very similar footsteps to gold and silver. History doesn’t repeat itself but often rhymes.
Second biggest question, is what happens if overnight every country accepted BTC as currency and they tried to use it as some sort of reserve currency? Again it breaks it (how many central banks around the world would need to hold 1%,5%, 10% holdings?), clogs the network (because it doesn’t work as a peer-to-peer cash system), sends the price to infinity but very few once again will have access to it.
Or worse a combination of the two, meaning central banks suck up the supply to hold as reserves as required by law (how many central banks around the world?) funds have to hold it ( 10s of thousands of family offices, funds) etc etc so they run out of bitcoin and then roll out the ETFs to fractionalize it, like they did with gold and then they are once again in full control, they have taken your magical internet money and rolled it right back into legacy banking. KYC and upcoming regulation will surely corral the heard into thinking CBDCs are a better idea and store of value.
Bitcoin maxi’s ignore these questions or talk in circles around them because the answer is that Bitcoin would be fkd in these situations. I don’t understand why so many people overly commit to their beliefs and world views only to look dumb later. Bitcoin and Eth are great stepping stones to what comes next, not the finish line.
This brings me back to that whole sovereignty network concept I floated out there end of January. Clearly in the long run having a complete isolated financial stack is gonna be required, and then even longer term moving that off the internet completely will be required (or build a private web based off MAD wireless tech) because this NWO idea is only going to get worse and worse so getting off the primary internet will be required in order to ensure safety of the network.
I will be exploring these concepts more over this year so stay tuned.
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