“China bans crypto” moment.
The wokes have not lost,
They are profoundly winning.
Tapering of their additional gains does nothing to undo their massive net win
Wokes walk away knowing their woke destruction pays off, incredibly handsomely
They come away greatly emboldened to shore up — and just immediately do it again
The wokes’ long advancing march only ends under 2 conditions:
(A) Some powerful new change is introduced, that can prevent this from happening again in the first place
(B) Credible threat of massive penalties to the wokes, so great that, should they try it again, the penalties would completely overwhelm all their past gains
The former clearly has not happened. No big fundamental change blocking the wokes’ next big surge upward has happened.
Latter has not happened because the penalties for these years of wokeness have been essentially nill.
Bros celebrating this “china bans bitcoin” moment as if wokeness has crashed forever,
In retrospect, they will look as foolish as the journalists who’ve repeatedly declared Bitcoin dead forever, upon each slight retrace.
🐻
The wokes have not lost,
They are profoundly winning.
Tapering of their additional gains does nothing to undo their massive net win
Wokes walk away knowing their woke destruction pays off, incredibly handsomely
They come away greatly emboldened to shore up — and just immediately do it again
The wokes’ long advancing march only ends under 2 conditions:
(A) Some powerful new change is introduced, that can prevent this from happening again in the first place
(B) Credible threat of massive penalties to the wokes, so great that, should they try it again, the penalties would completely overwhelm all their past gains
The former clearly has not happened. No big fundamental change blocking the wokes’ next big surge upward has happened.
Latter has not happened because the penalties for these years of wokeness have been essentially nill.
Bros celebrating this “china bans bitcoin” moment as if wokeness has crashed forever,
In retrospect, they will look as foolish as the journalists who’ve repeatedly declared Bitcoin dead forever, upon each slight retrace.
🐻