In the same way that a year passes through a series of seasons, so too does Bitcoin appear to follow a seasonal trajectory during each halving cycle.
As we enter Bitcoin Spring, price discovery and growth within this industry will begin to accelerate as Bitcoin begins to draw more interest from people outside of the community. However, growth within the industry is not the only growth to be had. In the same way that the flowers of springtime must contend with weeds, so too must Bitcoiners contend with new rounds of FUD.
The latest individual of merit to publicly weigh in on Bitcoin is Logica Chief Strategist Michael Green. Green is a wealth of knowledge in the macro sphere and his interviews are always worth a listen, even if you don’t agree with him. That being said, I have a few points of contention with him because I believe he is speaking about Bitcoin from a position of bad faith and not a position of someone who generally wishes to learn and understand.
To begin with, he styles himself as open minded and has said time and again that it is important to listen and understand ideas with which you don’t agree. For example, he will be interviewing, or perhaps has already interviewed, Rohan Grey, which means that the merits of Modern Monetary Theory (MMT) will also be entertained. That is all good and well, however, it also appears clear that the same level of consistency on Green’s part will not be extended to the Bitcoin space.
This is evidenced by his use of cliche and banal pejoratives to describe bitcoin such as: Bitcoin is a fake system, Bitcoin is trapped in a lie, Bitcoin is a Ponzi, “bit con,” or comparing Bitcoin to Bernie Madoff. And yet, none of these claims are supported by any evidence on his part. Based on the many hours I have spent listening to podcasts of his, I think he would agree that making disparaging remarks prior to presenting evidence is a dangerous path to tread on.
I am not sure…