866 sats \ 2 replies \ @Bitman 30 Nov 2023 \ parent \ on: Cycles and inevitability bitcoin
Maybe I'm thinking far beyond my lifetime, but this is how I see it (it's not my hypothesis, but I can only find an obscure source)
If the price drops $5,000 today - sure, all hell breaks loose.
However, if it drops $5,000 when it's 20x what it is today - a $5,000 drop still looks like calm water.
Now, that obscure source, BiTcOiN eCoNoMiSt Charlie Allnut - who was years ahead of his time1.
Now all that little choppin', them's shallas miss
It might make sense - if it doesn't, it might raise a smile at least ¯_ (ツ) _/¯

Footnotes
  1. Bogart to Hepburn charting the water in The African Queen (1951) ↩
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21 sats \ 1 reply \ @siggy47 30 Nov 2023
Great movie. Of course volatility has to be measured by percentage moves, not actual fiat value moves.
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866 sats \ 0 replies \ @Bitman 30 Nov 2023
Bogart mainly thought with fiat - Pounds, Shillings and Pence - you know, LSD
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