5 Reasons I'm Thankful For Crypto
Thanksgiving Reflections on Crypto
IN TODAY’S REPORT
What we cover: NONCE SENSE Edition. Thanksgiving Edition.
TODAY’S NONCE SENSE
It’s time to pause — at least briefly — and give thanks. No stats today but Thanksgiving week reflections below.
1. Crypto Never Sleeps
I’ve traded markets of all kinds for more years than I care to mention and one thing was always certain: markets would eventually close and take a break. For many years, I embraced this respite just as I embraced TradFi markets. As a hard-working trader, I deserve a break! Or at least this is what I told myself. Then came crypto. Crypto has no closing bell, no pre or post market session, no circuit breakers, no limit up or limit down, and no weekend pause like FX. Crypto never sleeps. I hated this fact at first, until I reframed the reality. Crypto never sleeps became Crypto is always awake. What’s the difference? Instead of the stock market’s 251 trading days per year, crypto trades all 365, for 45% more days per year. This “extra 45%” means extra everything: extra volatility, extra returns, extra opportunity, extra-ordinary. As life marches relentlessly on like the Theta (time decay) of an out of the money call option nearing expiry, I’m grateful for the unrelenting nature of crypto. I may sleep, but crypto is always awake and working overtime.
2. Monetary Innovation Outperforms The Innovation Index
The NASDAQ 100 Index (NDX) contains Apple, Alphabet/Google, Tesla, Microsoft, and scores of other companies pushing the limits of technology in a myriad of fields. For this reason, the NDX has been dubbed the Innovation Index, routinely outperforming the S&P 500 Index across the years. And yet the greatest breakthrough innovation in the history of money — Bitcoin — has easily outperformed the NDX since its inception.
Bitcoin/NDX. Daily Chart.
3. Borderless Money
Gold bars and suitcases of cash are not easily brought across national borders. While I haven’t tried personally, this is generally regarded to be true. Why would anyone want to do this, you ask? Wouldn’t such an act demonstrate some illicit activity? Not necessarily. Those fleeing religious or political persecution should not have to leave their wealth — however profound or modest — behind for their oppressor’s benefit. Crypto is not only borderless but invisible if one so chooses.
4. Satoshi’s Remarkable Disappearing Act
Houdini. Copperfield. Blaine. Angel. These illusionists are well-known and identifiable, despite their ability to disappear or make others vanish in realtime. But the creator of the first truly p2p cryptocurrency tops them all. On Saturday April 23rd 2011, exactly eight hundred forty days after the Saturday on which Bitcoin was launched, Satoshi Nakamoto emailed “I’ve moved on to other things” and was never heard from again. In the age of the End of Privacy, this Bodhisattva-like disappearing act conveys an almost spiritual mastery, and may just be Satoshi’s most profound accomplishment. The absence of Satoshi allows Bitcoin to flourish without interference from any figurehead. Like every great idea or creation, Bitcoin has transcended its pseudonymous creator.
5. Bitcoin’s Fixed Supply
In a copy-paste world of endless digital duplication, ever-expanding global debt, and the ongoing devaluation of currencies worldwide, Bitcoin is an (apolitically) conservative bulwark against humanity’s penchant for profligacy. 21 Million Bitcoin is all that will ever exist. Nearly everything can be defined against that unmoving number.
Thankful For You…
Five reasons is just not enough, but time is limited in this holiday week. I’m grateful for Bitcoin, Ethereum, and so many innovative protocols which will increasingly reshape much of our financial and broader world. And thank YOU dear reader for being part of this journey with me. May you find peace and joy now and in the future.
peace_love_crypto-DB
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