Daily Ramble
I’m a curator today. So instead of rambling at you, I’m going to link together a few pieces of media I’ve received in the last few days that lead to an inescapable conclusion.
The first item is the PCR test. If we were to create a hierarchy of the most important items in our pandemic, the PCR test would be second only to COVID itself. Why? The data from the PCR test has been the basis/justification for the decisions governments worldwide have taken. The data has also been the basis of a billion+ hours of arguments since the beginning of 2020. Yes, I made that number up, and I wouldn’t be surprised if it’s higher. Why does it matter? Well, the CDC has announced the PCR test is being retired at the end of the year.
Hmm… I don’t know why it’s going away, but have you heard any media talking about it? Neither have I.
Next, there's the dawning and vexing reality that the coronavirus mutates.
The CDC is now stating that unvaccinated and vaccinated are spreading COVID. Full stop. Is it surprising that institutions are behind the curve in adopting common-sense knowledge of basic evolutionary biology?
And yeah, a few people are upset that being vaccinated does nothing to stop the spread of COVID.
Then there’s this excellent Anthony Fauci video which merges clips of Fauci’s undeterred confidence in masking, I mean unmasking, to prevent COVID spread.
What to conclude? Our institutions don’t have a handle on COVID, the vaccine, or how we should react. They are scrambling for control but are losing it.
Your best bet is to bet on the survival mechanism we’ve used for 100s of thousands of years: your immune system. Boost it. Stay healthy. Accept reality, adapt to it, and survive.
Man plans and the gods laugh — a continuing truism.
Funny Things on the Interweb
Bitcoin Price Prediction
Yesterday: $36.4k - $39.3k
Today: $38k - $42.4k
Tomorrow: $38k - $45k
I continue to be impressed by the bull’s efforts to keep their foot on the throats of the bears. Bitcoin’s price hasn’t seen a substantial pullback since $29k despite being at the top of the range; a place bears typically defend heavily. Instead, in the last 24 hours, we have seen the bulls consolidating under the range high. It’s the type of behavior that typically leads to a break out of a range. It doesn’t mean it will happen, but if we clear $42k on the daily close, then my confidence that $29k is our bottom will increase even further. On the flip side, a breakdown from the top of the range here would not be a welcome event for the bulls — they’ve not built much support into the chart on their march north from $29k. Lastly, there is a historical precedent in the price action: Bitcoin likes to form bottoms that leave people in disbelief that the bottom is in. That fits this price action to a T.
Bitcoin Q & A
Q: Could decentralized social networks be built on Bitcoin to remove the ability for censorship? 1
A: Yes.
Jack Dorsey, CEO of Twitter, expressly stated at the “B-word” event last week that he’d like to see Twitter integrate more closely with Bitcoin. While it doesn’t mean the platform will be built on top of Twitter, I suspect Jack is heading that way, given his hearty embrace of Bitcoin.
The best example of a social network built on Bitcoin is Sphinx, which streams podcasting and chat services using Bitcoin’s Lightning Network. So directionally, it appears like a new censorship-resistant internet is being built on top of Bitcoin though it is very early days.
Thanks for reading,
Kent
Do you have questions or a “Favorite Thing on the Interwebs”? Comment below or reply to the newsletter to reach me.
Do you want to receive Kent’s Corner each weekday?
Me? I offer personal and corporate Bitcoin Implementation Strategies: custody, investing strategy, security, tax management, and inheritance. Contact me for a free initial consultation.
Thanks for the question Adam R!
Did you read that entire USA Today article? I get the impression it's not a universality for all vaccinated to be spreaders... just those few with breakthrough cases of Covid-D (Covid with delta variant).
And yes, keeping ourselves and our immune systems healthy would be more effective. We may one day come to understand that Covid will be with us just as is the flu. It's a part of life to try to avoid but not panic if we succumb.
'Nuff said.