Damus

Recent Notes

Guy Swann · 21h
Sadness. Weak hands don’t get the game. Although, it could also simply suggest that individuals were so strongly frontrunning the businesses and hedge funds etc, that they were able to offload and ...
DireMunchkin profile picture
I'm more inclined to see it as just hodlers offloading into doing something nice for their life. Just as a personal anecdote I paid off my student loan debt last June with some of my corn. I didn't sell a very large portion of it though, and I plan to stack more.
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𝕞ptf · 1d
Banks and insurance did lots of shit on a "gold standard", but any sizeable amount of money they didnt pay in gold as they didnt have it. Same as today... Eg... In 1909, General Motors founder William Durant offered Henry Ford $8 million to buy Ford Motor Company. Ford agreed but told his associat...
𝕞ptf · 1d
Did they pay claimants in gold or paper?
Zapstore · 1w
"If an app is not hashed" what does that mean?
Zapstore · 1w
Yes!
Lyn Alden · 1w
Algos treating bitcoin like SaaS. https://blossom.primal.net/942b76adae82e37449308ee1eb738083382e03ee62f140f34009003278f7d7aa.png Relatively few new retail investors came in this cycle. Meanwhile, ...
DireMunchkin profile picture
I think this market might be a bit more retail driven than you give it credit for. There may not be that much new people coming in at the moment but most of the existing Bitcoin is still owned by long term hodlers. These guys are with few exceptions retail, not institutional.

LTH's cashing out some of their stack during last summer to autumn materially contributed to dampening and then ending the bull market. This was clearly visible in I.E on chain revived supply.

It's also unlikely to be a coincidence that the bear started at exactly the same time as Core v30 releasing, basically to the day. This was the instigating incident of this bear IMO.

So in summary I think you're probably correct in what drives institutions, but retail still mattered a lot in this last cycle because they were the marginal seller.
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Lyn Alden · 1w
I don’t disagree that retail mattered, but they were largely existing retail. New retail didn’t show up in size.