Feedback Sought
Bitcoin Update
I shifted gears to writing about Bitcoin first, but based on the comments I’ve received in the last 24 hours, I’m second-guessing myself. If you’re enjoying reading along, could you please drop a comment on what you’re enjoying more: Bitcoin or my Daily Ramble?
Price
Yesterday’s price range prediction: $18k-$25k. (decreasing probabilities after crossing $20k)
Today’s price range prediction: $18k-$25k. (decreasing probabilities after crossing $20k)
If you’re extremely clever, you’ll notice the price predictions from yesterday to today are a copy and paste job. It’s because we’re in the same predicament as yesterday: the price continues to grind upwards towards the prior all-time high of $20k. At the moment, it looks likely that we’ll go up to try out the $20k handle for the first time today. The slower the price moves upwards here, the more likely we are to meaningfully clear $20k the first go around. Expect volatility when we do.
Continuing Ed
Ever heard someone say, “Ok, there’s 21M Bitcoin but what’s to stop someone from making more?” I’ll answer the question but just know it’s about as likely that we’ll start producing stars next year.
Here’s why: Bitcoin is an opt-in system, which means participation is completely voluntary. At the moment there are more than 11,000 people running nodes on the Bitcoin network. Keeping it simple, a node is a hub on the network that validates the transactions going across the network. To change how the network functions, the majority of the network will have to upgrade their nodes to a new version of Bitcoin. If you and your family struggle to decide on a meal at a restaurant, then imagine getting more than 5,500 unknown individuals spread across the planet to agree to devalue the Bitcoin they hold by creating more. Like I said, turning water to wine is more likely.
Favorite Thing on the Interwebs Today
If you’ve somehow managed to miss the fact that a shiny, steel monolith was discovered in the middle of the Utah desert by park rangers counting Great Horned Sheep on a helicopter fly-over, go be a curious monkey and check it out. I’m chalking it up to my “It’s just 2020” list.
Daily Ramble
I’m appreciating the feedback I’m getting on where to take my daily ramble. Thus far, it’s been a combo of more Portugal, travels, and thoughts. Today, I’m going with “thoughts for $500, Alex” (RIP).
I’ve got a morbidity hangover that I can’t seem to kick. Maybe it’s because I recently watched the violent Frontier series on Netflix, but the importance of death in life continues to press on my prefrontal lobe. Specifically our relationship with food.
Growing up on the Oregon coast, if you didn’t hunt and/or fish, you knew someone that did. An elk steak, venison backstrap, or slab of fresh salmon were prized centerpieces to meals and still make me drool to think of. My father hunted and still does, though he’s a bit lazier about it these days. He baited me to join the sport with Reese’s Peanut Butter Cups which I would scarf down between stops at clear cuts where we’d hunt deer and elk.
Despite the yummy Kent bait, I got bit by the surf bug instead of the hunting bug. The hunting bug left its mark though. There is nothing like looking in the eyes of a creature you have shot watching the light fade to understand the permanence of death and impermanence of life. Somber as those moments were, they had a lasting impact on my relationship with food and understanding the revolving wheel of life.
Incoming rant: if you eat animal flesh, but have never killed an animal, shame on you for outsourcing your killing to others. Stop sanitizing your experience of life — go cut off the head of a chicken, shoot a cow, gut a goat, club a fish, or go veggie if you can’t muster the killing. But don’t cowardly outsourcing your killing. Earn your license to eat meat the way your ancestors did. And do it for your own sake. You’ll never appreciate it more afterward.
Thanks for reading,
Kent
Or
I don’t really care. I’m just going to keep writing thoughts into the void and see what happens.