Man I really want to be bullish on $s, but if people like this dude are telling me I should pay attention it really makes me think twice.
While other chains chase memes, @SonicLabs is building the fastest, highest-performing EVM chain.
⚡ 10,000+ TPS | Sub-second finality
💰 FeeM: Devs earn 90% of network fees
🔥 400M+ TVL, 1B+ volume | DeFi & DeFAI exploding
All $S is in circulation. No unlocks. Just demand.
We can all breathe a sigh of relief.
Should be obvious at this point. And sources confirming late last night:
• “Ripple pressed too hard, no chance $XRP makes it into any fed level reserve.”
• “focus remains on Bitcoin and best path to an SBR.”
• “SBR isn’t simple, will take time; have to avoid law of unintended consequences.”
• “Trump is smart, trusts Bitcoin first thesis.”
God damn man, turns out chemtrails were real after all?
It's at times like this I regret telling my exes they were all crazy conspiracy theorists.
In my defense, if you come at me with some theory you learned off Facebook, I'm going to laugh at you.
Gold is currently leading, but rotation into #bitcoin is inevitable. Let's see how long it takes this time.
Gold is ripping, Bitcoin chopping. Summer 2024 vibes. You know the deal, Bitcoin will bore you to death. As long as Gold keeps trending, Bitcoin almost always sees a comparable (bigger) breakout within 3-6 months. Hoping it's on the short end of that horizon this time around. Tariffs = uncertainty + possible inflation. Central banks + Asia are bidding Gold hard as an inflation hedge. Rotation into the hardest asset on earth inevitable.
This is something I talk about a lot, and I know I sound like a broken record: you have a less than 1% chance getting rich off of meme coins.
It's not just that your chances of success are so low, it's that the habits it engenders in you make it much less likely for you to make sound financial decisions, either investing or trading.
In a paper that analyses US spending habits, they found that for every 1$ spent on gambling, 0.99$ less was spent on long term investments, with outsized effects among poor households
imo this is happening with memecoins, it's not that entertainment money is being redirected to gambling, but rather the money that would go towards long term investments such as a university fund for kids, retirement fuds, buying a house... is being redirected to gambling and lost
Since most of that money ends up lost, this reduction in net investments ends up becoming a serious net negative for society
Furthermore, households with recent bank overdrafts spend 2x as much on gambling relative to their income, that is, families that are in the hole gamble twice as much, pulling them further into the hole
This worries me because I believe crypto is path dependent, and if a large part of society ends up seeing crypto as net bad because of memecoin's effects or if negative policy against all of crypto is created because of that, we could end up in a situation where the negative effects of memecoins spill over and prevent other ideas such as self-sovereign money or trust minimization from flourishing
Source: papers.ssrn.com/sol3/papers.…
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Going to stick this bull post in here just so I don't get left behind.
Market looks pretty bottomed. 😅
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This is one of the dumbest things I've seen in a long time, and I'm from Iowa.
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