7 Comments
Mar 22Liked by Molly White

So reassuring to know there is smart, reasonable reporting on this. I do hope the mainstream reporters follow you. Your point about the fanaticism is spot on. No reasonable and reasonably well-informed person would flee to safety by buying crypto.

Expand full comment

Brilliant writing. Your work is like high blood pressure medication. Thank you.

Expand full comment
founding

I don’t get why he’d use the “when did you stop

beating your wife” example (except that he thinks it sounds clever) — what facts are presupposed by the question? That he owns any Bitcoin at all? Oh whatever why am I even trying to figure it out.

Great stuff as always Molly! As the longtime “anti-crypto” person in my social circle (the Molly White!) when I get asked why Bitcoin is going up I usually answer with some variation of #6: I never know why the Bitcoin price is doing what it’s doing!!! No one does! Or very few people do (the people manipulating it do I guess.)

Expand full comment
Mar 22Liked by Molly White

Interesting and useful, as always. I remain concerned that somehow the FDIC is being used to save account holders that are invested in cryptocurrencies. The "wall" between banking and "investment" seems porous. Am I the only one imagining that we are bailing out cryptocrap?

Expand full comment

This has all the feel of a dead cat bounce (sorry, I got my degree in physics, and that is our go to for analogies)

Furthermore, I have long wondered how much influence a few whales has on the valuation. It sure seems like there are some hard floors that someone is spending money to support as BTC dropped from its November 2021 peak.

I am not a finance person but I am fascinated by the psychology of the BTC faithful.

(I do not, and never have, held any crypto currency)

Expand full comment
founding

Lucid and logical...please keep up the analysis..

Expand full comment