#CRYPTOCRASH AND THE FUTURE OF #CRYPTO The #cryptocrash is not yet severe. It’s

#CRYPTOCRASH AND THE FUTURE OF #CRYPTO

The #cryptocrash is not yet severe. It’s driven by the fact that most holders are techies, and tech stocks are taking the hit,so they are moving with tech stocks. However,non-tech is down 50% already meaning all tech stocks are hyperinflated as people try to time market exits.

It’s not possible to predict whether crypto stocks will restore, disentangle from tech stocks, or if when tech stocks reach margin calls, that people will sell crypto. It’s possible that they will flee to crypto if brave. I suspect in panic they will flee to cash.

Y’all can hate me for this but as I said, crypto is simply free offbook research and development for the state that will impose even more economic intervention using Fedcoins. Thursday the Fed asked for input on Fedcoin. Today Russia bans crypto. This is just the beginning.

Like I’ve been saying for a decade now: the money in crypto is provisioning tech to governments the way Blackrock and Visa provision tech for the state. They will outlaw by closing in and out doorways all competing digital coins, and will convert all to Fedcoin as I predicted.

And FWIW, as I predicted, it’s not money. Each coin is just a divisible share in the coin’s network. As such it will not behave like money, it will behave like shares, and mirror the share market not serve as a defense from it. This is what we are seeing in the markets.

Again – I’m not anti crypto. Just the opposite. I just don’t think that it results in money substitute. Everything else but. The problem is the FEDCOIN is specifically not what we need – fed managed.

My concern with crypto over the past decade is that discourse on crypto is not based on first principles of monetary instruments, and instead on sophistic and pseudoscientific analogy with extraordinary bias. I’ve been criticized for truthiness – but I was correct #cryptocrash

If you understand that the crypto innovation is that it’s a stock in an asset-less, unbacked, uninsured corporation(technically a voluntary partnership) that it’s relatively difficult to steal shares from, and as such a divisible share of token money, you can predict behavior.