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All about the Buterins.

By el Prof
October 21, 2021
Image: MarketWatch

Our latest column, dedicated to the conspiracy theories I wholeheartedly believe in, is called Over Beers, because it’s one side of the conversation we might have over beers, or because I wouldn’t have these highdeas in the first place if I weren’t such a pothead these days. But I am. And, lately, I’m quite literally over beers.

So here I am to shoot my shots and crypto hot takes into the ether so one day I’ll have the read receipts to show those other bargain bin PCPs in the metaverse bar and say, I told you so. This week, it’s all about the Benjamins — or, rather, Buterins

Yesterday, Bitcoin hit an all-time high. The market is looking strong. Twitter investor Anthony Pomp fired shots at TradFi, alleging it could be criminal for large public traditional finance companies to be holding cash on their balance sheets amidst this environment of clear inflation. He speculates shareholders wouldn’t be out of their minds to claim financial mismanagement once they fully understand the ramifications of what’s going on. I tend to agree with the read.

As I mentioned last column, I put my money where my mouth is months ago. Starting a business isn’t cheap, so it was incredibly gratifying to sell some of my crypto holdings yesterday to cover expenses, only to have the amount I pulled out covered by new gains this morning. In my humble, totally unprofessional opinion, holding USD is more dangerous than supposedly volatile crypto right now. With prices inflating everywhere relative to the dollar, including crypto, you better have something smart to store present value. 

America is a country with lofty ideals — ideals that were a lot easier to gaslight the population into believing in a pre-Internet era. But access to information has changed, and now we can demand that our two-faced nation state actually start living up to those ideals. There’s a reason marginalized groups like Black Bitcoin Billionaires are rallying around crypto. Think of it almost as a global reparations. Unfortunately, someone will pay an economic toll during this reckoning. But with new technology at our disposal, we stand a chance at making sure it’s them, not us.

el Prof

el Prof

hey, i'm el prof, but most people call me Connor. Thanks for reading.

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