The Grind
Daily Ramble
Aren’t we all just creatures of routine? As much as I enjoyed taking a break to be with family for Christmas, there’s something about getting back to the known routine that I enjoy. Even if you hate the job you’ve returned to, I’m sure there’s a part of you that enjoys the known-ness of what happens next in your day. The structure. The calendar events. A path through time and space with guardrails.
Without it, we flail. We need the day-to-day structure to make sense of life in this limitless realm of possibility. I’m speaking from experience — I traveled, for a lot longer than most people think is normal or natural. First, it was the US for 6 months. Then it was Mexico, parts of Canada, then South America, Europe, the Middle East, rounded out with India and Nepal. All in, it was 4 years of my life. After the first 6 months of touring the US, I realized that without some goal or experience to set at the end of my compass, I would spin off into the ether. Figuratively speaking.
In hindsight, I can see that it wasn’t the goal or experience that kept me on track, but the sense of purpose that tagged along. And that’s a core feature of humanity that my travels uncovered: the importance of purpose. When individuals have conflicting purposes in life, conflict naturally arises. But conflict is far superior to the alternative of a lost soul roaming the earth purposelessly. Try hopping hostel to hostel for a while, regardless of continent, and you’ll come to recognize the sad, vacant look of the purposeless person.
So if you’re down on being back to work, just know, you’re lucky to have purpose, and even luckier to know it can change if you choose.
Favorite Thing on the Interwebs Today
A: Pretty much everything about having been to Iguazu Falls and valuing my life.
Bitcoin Price Prediction
Yesterday: $26.1k - $28k
Today: $25k - $28k
Tomorrow: $25k - $30k
Bitcoin’s stayed within the predicted range yesterday. Despite the midday attempt by the bulls to push the price, it wasn’t enough, and instead, we had sideways action. Today looks to be more of the same though the bulls are threatening to push up again at the moment. If they do, I can’t see it breaching $28k today, but if the bulls miss the opportunity there’s a chance we could break down as low as $25k where I anticipate buyers to step in heavily. Until we get a clear indication of which direction this range will break, we have a wider prediction range for tomorrow of either $25k on a breakdown, or $30k on a breakup.
Bitcoin Ed Bite
Scarcity. Apparently, it’s a tough concept to understand if you’re someone that believes in Modern Monetary Theory. What’s that? It’s the idea that the government can print endless fiat money without consequence. I’ve got the vague notion that the idea is being trotted out to help the public feel good about all the money printing that’s happening.
I’m on Twitter a decent amount (it’s where the crypto community hangs out) and I cannot believe that there are people who genuinely believe that Bitcoin lacks scarcity because it can be subdivided. 1 BTC = 1.00000000 BTC. Notice the equal sign there?
Reasonably intelligent people seem to be arguing that because it can be subdivided, it can be inflated infinitely. It’s like stating that if you take a pizza and cut it into more slices, there will be more pizza. I’m sorry, but that’s not how math works. Check this out if you’re skeptical:
The beauty of math is that its stark reality cannot be debased by politics. Wanting it to be true that infinite printing has no consequences is far different than it ACTUALLY being true. So much so, that Modern Monetary Theorists seem to be creating an alternate set of math rules to prove Bitcoin has infinite inflation. It doesn’t. There are only 21 million. Now and forever. Cross my heart and hope to die.
Thanks for reading,
Kent
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