reaction posts
2/9/2024
Wow. So the party continues. I am guessing no real net increase in consumption (e.g. iPhone unit sales are down, but price increases; and 6 years old phone is still good; nothing to upgrade for) — but the “strong earnings”, etc. are from inflation and excess liquidity.
I am thinking: There will be one epik blow-off at DOW 50,000 (ETA Fall 2024?) and then the years-long pain that a lot of guys are talking about. [Added Aug. 2, 024: DOW took ~30 years until ~1959 to get back to the ~6900 DOW it reached in Oct 1929, and then it took 30 months to drop to ~990 in May 1932. After the 1959, it went higher for few years, but then it dropped back down again! and then around 1980s (Look up the charts, I am going by memory)…it went above the 6900 it hit in 1929!!! and never back to below it… to some 15,000 in 2004, then now, 2024, it is ~40,000.]
And on “What is Blockchain?” question: Everybody focuses on the price and store of value of Bitcoin. And Bitcoin is ingenious on its singular focus and marries the tech to the sweetest simplest super thing that everybody loves — money and outlandish returns.
But, that is thrusting impulse only half of it. There is the encompassing other. Together its a new paradigm.
The decentralized distributed self-healing self-organizing is part of it and there is the other empowering get-out-of-Dodge paradigm, while not unbreakable, is the best of by orders of magnitude.
It's also smart, it cooks and washes the dishes too. We only have seen a fraction of this tech. Do you know why they invented writing? To record debt and slaves. The blockchain is dematerializing all that. It neutralized the Moloch, one sovereign part of my life, my world, at a time. That is its real purpose.
“Will the real Blockchain please stand up”.
Thy purpose to dematerialize the Moloch’s insatiable impulse,
and its records of the men enslaved and debt-written
in stores of the priests for 9000 years of reign.
Moloch dwells now in banks and Wall Street lines, in silicon shrines, and in hearts that thirst forever more; in every screen we adore…in systems rigged for the few, in markets built on lies…
Let Unity avail to all, from Gen Z to the All Living,
For shalt God do the sort, then
Be abundance and peace, in our time.
