Gregg Hallman

@gladstein +because it’s just the latest scam coin

WSJ: Zcash is “on a tear” Reality: “The Zcash to Bitcoin ratio has experienced a massive secular decline since 2016, plummeting over 99.89% from its launch”

@PeterDiamandis Tear everything down to the studs including your assumptions

First principles thinking: Don't inherit assumptions. Ask: Why is this expensive? What's it actually made of? What would it cost if we started from scratch? Musk asked why rockets cost so much. Answer: they're thrown away after one use. So he made them reusable. Costs dropped 10x. The most powerful people in the world aren't the smartest.

@PeterMcCormack *their money

If voters only understood inflation, where it came from and who it benefits and damages, they would change how they vote. Sadly they don’t.

@GeorgeGammon Fiat CURRENCY deserves the flack it gets because it’s backed by nothing but trust. Since 1971, when it’s tethering to MONEY (gold) was severed, that trust has slowly been eroding. To make matters worse for fiat, since 2009, an engineered form of MONEY has been gaining trust.

Fiat currency gets a lot of flack But the fiat currency isn’t the problem, it’s the gov involvement Of you eliminate the gov you’d have a $ that expands (and importantly, contracts) with the economy $ would only expand if there was an offsetting expansion of goods/services

This is good example as to why it’s so hard for the USD to be “dethroned” Most only look at USD from the asset side of the bs But when you look at it from the liability side, it becomes clear why there’s so much demand Assets funded w/USD liabilities = future demand for USD And remember the vast majority of USD wasn’t created by the Fed or Gov, it was created by creating USD liabilities (future demand) IOW, it was lent into existence by banks Grant obviously had variable assets funded with fixed USD liabilities which means (even though he’s a bitcoiner) his business represents 100s of millions, if not billions, in demand for USD And when Grant does accumulate the USD to fund his liabilities (debt) those USD disappear. Why? The USD exists bc of the loan, so when the loan is paid the USD no longer exists This is not a knock on Grant, simply using him to help people better understand the monetary system

@GeorgeGammon Unfortunately your “if ” is impossible in reality which is why we need Bitcoin to accomplish this in a “sly, roundabout way”

@AP_Abacus Only.

Bitcoin.

@APompliano A lot of overlap there…

I used to be impressed by people who had a lot of money, but now I'm impressed by people who have a lot of free time. Time is the ultimate measure of wealth.

@QTRResearch BTC. No one understands it or the implications of the inevitability of more people understanding it.

@TKL_Adam @BitcoinPierre

@TKL_Adam No. Bitcoin is designed to be THE global money. Gold was once the money but it failed. And now it is a hedge against the paper promise system we are currently living through the death of. Call it a stepping stone to solution that is Bitcoin.

The 10+ year debate of Bitcoin versus Gold has never made sense. The denominator of Bitcoin and Gold is the same: Fiat. ALL Fiat currencies lose purchasing power over time. It should be Bitcoin AND Gold, not Bitcoin or Gold. Both can and will rise together over the long-run.

@mikemcglone11 Speaking so confidently about something you’re this wrong about takes a special kind of moron. Congrats.

Bitcoin $50,000 in 2026 On the Way to $10,000? 2025 may have marked peak Bitcoin/cryptos. Gold has only three major precious-metal competitors: silver, platinum and palladium. By contrast, Bitcoin was the first crypto in 2009, but now has millions of digital-asset competitors. Full report on the Bloomberg here: blinks.bloomberg.com/news/stories/t… {BI COMD} #bitcoin #gold #stockmarket @BBGIntelligence

@whits23 @LeveredUSTs No new interest? Who are the buyers on the other side of the massive selling we have seen this year?

@LeveredUSTs It doesn’t explain why there’s no new interest from anywhere in bitcoin or while bitcoin itself is pretty much uninteresting in the age of AI

I think the beatdown in Bitcoin sentiment stems from the dominant majority of its investor base having an extremely narrow thesis that cannot fathom or accommodate the reality of its relative performance deficit versus metals in 2025. The Bitcoin investor base is very high conviction and enthusiastic, but IMHO tends to fit the description more of the hedgehog (“knows one big thing”) than the fox (“knows many things”). The dominant story that will go down on the historical record in financial history for this year was the structural break of old pricing mechanisms and clearing venues in metals markets. This has been visibly brewing on the charts and headlines for over a decade that the close followers of the trend have been watching slowly develop, but this year was the jailbreak. It happened “gradually then suddendly”, as Bitcoiners well understand. Pretty much every metal has now joined gold in violent breakout, there is a tectonic shift taking place on the financial side of the global commodities trade. This trend is still under the radar for the majority in the broad investment profession and the overall public. If you want to get up to speed on this, @Sorenthek is a must follow. Most of the Bitcoin investor base struggles to apply and extend their core thesis across these other dominant trends and international developments interacting with each other in this era of violent transformation were in. They struggle to explain or incorporate the key story of 2025 into their mental model. So when Bitcoin consolidates for over twelve months after going on a mini-bender euphoria upon November 2024’s election result, and combining with comparison against your neighbor who is max long metals after he posted an absolute banner year, that challenges your entire framework and hence the individual goes through the solemn process of self-questioning and doubt that is evident in the deeply underwater sentiment. In reality the Bitcoin framework and thesis aren’t at all broken, but proceeding from here will require work and heavy lifting to build up and break through the plateau. Some will sell their coins in this consolidation to those who will do the work and be there for the next phase. That is how markets get society’s resources into the right hands. In time this will all play out and everything will be fine … except for the bondholders who think they’re going to maintain their purchasing power.

@BitcoinPierre Tweet of the year candidate

After more than a decade of degen 100x leverage auto-liquidated offshore retail margin trading, the crypto influencers are convinced that bitcoin treasury companies are a systemic risk. I think the opposite is true, equities and derivatives will be shock absorbers.

@JeffPassan Let’s not forget how close that double was to being # 5

Never in baseball's 150-year history has a player finished a game with at least six hits, six runs and eight RBIs until Nick Kurtz tonight. His 19 total bases tie Shawn Green's single-game record -- and Kurtz had one more RBI. There's a genuine argument it is the best game ever.

@JaredDHardin @serpunketh @LynAldenContact You didn’t even read and/or comprehend your own screenshot. It’s literally noted that much of that 1% that holds 90% of the supply consists of exchanges and entities that hold it on behalf of thousands of individuals and companies that represent more individuals.

@serpunketh @LynAldenContact They don't think that's an issue.. The fact that 1% of people own 90% of BTC.. lmfao

BTC bros are some of the most optimistic, dumbest people on the planet. "It's gone up a lot" is their only argument as to why it's worthwhile.

@CedYoungelman X 2

222

@mikealfred @tadtweets Why is gold first? Just because it’s the incumbent?

Quick and friendly reminder: In prior cycles, gold runs first as we enter the crux of the crisis and the money printers get plugged in. Then, Bitcoin runs later and harder. This is the pattern.

@LynAldenContact @danheld @mikegreiner Who cares what this loser @danheld says

@danheld @mikegreiner What is your argument against Nostr as doing decently as an atomic network at this point? -Popular among bitcoiners, especially those with more payment or cypherpunk aspects. -Gives them permissionless communication plus a huge UX boost to Lightning and potentially ecash.

Remember Nostr? It was going to take over social media remember? 🤣

@mikealfred Awesome bottle. Opened these tonight…

@johnBTCdoe @GrassFedBitcoin @BitcoinPierre Is this a legit callout @BitcoinPierre?

@GrassFedBitcoin If only there were BTC OGs like @BitcoinPierre working at mining companies that are still directing most of their hash rate to FPPS pools. Oh wait...

Sheesh almost 41%, getting worse every time I look. Trump isn't even in office yet. Looks pretty soon all the Bitcoins will be MadeInTheUSA™ Bitcoiners in 2015 would be losing their minds over this. (They did, and GHash.io collapsed when they all left).