none of this was new to me as a long time crypto gawker, but it was still tied together in a nice package which drew some particularly apt connections. I can’t help but believe that the bitcoin thesis is fundamentally flawed. Being superimposed on the structure of financial capitalism itself, it seems to me that bitcoin and cryptocurrency are leveraged bets in the stability of the system. we haven’t seen how crypto will function during a serious recession yet. I’m not a professional prognosticator by any means, but i have a hard time believing that it will go well for them, and a very easy time believing that it will go worse for them than the rest of the economy, broadly speaking. I hope that people in texas and other crypto-humping locales that host bitcoin “mines” take the opportunity to do something extremely Cool when that does happen.