Share this discussion
Comment by Anonymint on Crypto Trader Digest
QUOTE: โ๐๐ฐ๐ธ๐ฆ๐ท๐ฆ๐ณ, ๐ช๐ต ๐ธ๐ฐ๐ถ๐ญ๐ฅ ๐ข๐ฑ๐ฑ๐ฆ๐ข๐ณ ๐ต๐ฉ๐ข๐ต ๐ต๐ฉ๐ฆ ๐๐ ๐ฉ๐ข๐ด ๐ณ๐ฆ๐ข๐ญ๐ช๐ด๐ฆ๐ฅ โฆ
22 Comments
ยฉ 2024 Arthur Hayes
Substack is the home for great culture
QUOTE: โ๐๐ฐ๐ธ๐ฆ๐ท๐ฆ๐ณ, ๐ช๐ต ๐ธ๐ฐ๐ถ๐ญ๐ฅ ๐ข๐ฑ๐ฑ๐ฆ๐ข๐ณ ๐ต๐ฉ๐ข๐ต ๐ต๐ฉ๐ฆ ๐๐ ๐ฉ๐ข๐ด ๐ณ๐ฆ๐ข๐ญ๐ช๐ด๐ฆ๐ฅ ๐ต๐ฉ๐ข๐ต ๐ช๐ง ๐บ๐ฐ๐ถ ๐ฎ๐ข๐ฌ๐ฆ ๐ช๐ต ๐ซ๐ถ๐ด๐ต ๐ฑ๐ข๐ช๐ฏ๐ง๐ถ๐ญ ๐ข๐ฏ๐ฅ ๐ฆ๐น๐ฑ๐ฆ๐ฏ๐ด๐ช๐ท๐ฆ ๐ฆ๐ฏ๐ฐ๐ถ๐จ๐ฉ ๐ต๐ฐ ๐ข๐ค๐ค๐ฆ๐ด๐ด ๐ค๐ณ๐บ๐ฑ๐ต๐ฐ, ๐ต๐ฉ๐ฆ๐ฏ ๐ต๐ฉ๐ฆ ๐ฎ๐ข๐ซ๐ฐ๐ณ๐ช๐ต๐บ ๐ฐ๐ง ๐ต๐ฉ๐ฆ ๐ฎ๐ข๐ด๐ด ๐ข๐ง๐ง๐ญ๐ถ๐ฆ๐ฏ๐ต ๐ข๐ฏ๐ฅ ๐ฃ๐ฆ๐ญ๐ฐ๐ธ ๐ธ๐ช๐ญ๐ญ ๐ด๐ช๐ฎ๐ฑ๐ญ๐บ ๐ฏ๐ฐ๐ต ๐ฃ๐ฐ๐ต๐ฉ๐ฆ๐ณ โฆ ๐ต๐ฉ๐ฆ ๐ฎ๐ข๐ด๐ด ๐ข๐ง๐ง๐ญ๐ถ๐ฆ๐ฏ๐ต โฆ ๐ฉ๐ฐ๐ถ๐ด๐ฆ๐ฉ๐ฐ๐ญ๐ฅ๐ด ๐ต๐ฉ๐ข๐ต ๐ฎ๐ข๐ฌ๐ฆ $100,000 ๐ต๐ฐ $200,000 ๐ฑ๐ฆ๐ณ ๐บ๐ฆ๐ข๐ณ, ๐ธ๐ฉ๐ช๐ค๐ฉ ๐ช๐ด ๐ณ๐ฐ๐ถ๐จ๐ฉ๐ญ๐บ 25% ๐ฐ๐ง ๐ต๐ฉ๐ฆ ๐ฏ๐ข๐ต๐ช๐ฐ๐ฏ โฆ ๐ช๐ด ๐ฏ๐ฐ๐ต ๐ข๐ค๐ต๐ถ๐ข๐ญ๐ญ๐บ ๐ต๐ฉ๐ข๐ต ๐ธ๐ฆ๐ข๐ญ๐ต๐ฉ๐บ โฆ ๐๐ฉ๐ฆ๐บ ๐ข๐ณ๐ฆ ๐ฃ๐ณ๐ฐ๐ฌ๐ฆ, ๐ข๐ฏ๐ฅ ๐ต๐ฉ๐ฆ ๐จ๐ฐ๐ท๐ฆ๐ณ๐ฏ๐ฎ๐ฆ๐ฏ๐ต ๐ข๐ช๐ฏโ๐ต ๐ฉ๐ข๐ฏ๐ฅ๐ช๐ฏ๐จ ๐ฐ๐ถ๐ต ๐ค๐ฉ๐ฆ๐ค๐ฌ๐ด ๐ข๐ฏ๐บ๐ฎ๐ฐ๐ณ๐ฆ โฆ ๐ต๐ฉ๐ฆ ๐๐ ๐๐ณ๐ฆ๐ข๐ด๐ถ๐ณ๐บ ๐ธ๐ช๐ญ๐ญ ๐ณ๐ฆ๐ต๐ถ๐ณ๐ฏ ๐ต๐ฐ ๐ฉ๐ข๐ฏ๐ฅ๐ช๐ฏ๐จ ๐ง๐ณ๐ฆ๐ฆ ๐ฎ๐ฐ๐ฏ๐ฆ๐บ ๐ต๐ฐ ๐ณ๐ช๐ค๐ฉ ๐ฑ๐ฆ๐ฐ๐ฑ๐ญ๐ฆ ๐ท๐ช๐ข ๐ช๐ฏ๐ต๐ฆ๐ณ๐ฆ๐ด๐ต ๐ฐ๐ฏ ๐จ๐ฐ๐ท๐ฆ๐ณ๐ฏ๐ฎ๐ฆ๐ฏ๐ต ๐ฃ๐ฐ๐ฏ๐ฅ๐ด ๐ข๐ฏ๐ฅ ๐ค๐ฆ๐ฏ๐ต๐ณ๐ข๐ญ ๐ฃ๐ข๐ฏ๐ฌ ๐ฅ๐ฆ๐ฑ๐ฐ๐ด๐ช๐ต ๐ง๐ข๐ค๐ช๐ญ๐ช๐ต๐ช๐ฆ๐ด โฆ ๐ช๐ต ๐ธ๐ช๐ญ๐ญ ๐ฏ๐ฐ๐ต ๐จ๐ฐ ๐ต๐ฐ ๐ต๐ฉ๐ฆ ๐ฎ๐ข๐ด๐ด ๐ข๐ง๐ง๐ญ๐ถ๐ฆ๐ฏ๐ต, ๐ธ๐ฉ๐ฐ ๐ฉ๐ข๐ท๐ฆ ๐ญ๐ช๐ต๐ต๐ญ๐ฆ ๐ต๐ฐ ๐ฏ๐ฐ ๐ด๐ข๐ท๐ช๐ฏ๐จ๐ด โฆ ๐๐ฐ ๐ธ๐ฆ๐ข๐ฌ๐ฆ๐ฏ ๐ต๐ฉ๐ฆ ๐ค๐ถ๐ณ๐ณ๐ฆ๐ฏ๐ค๐บ, ๐ต๐ฉ๐ฆ ๐๐๐๐ ๐ธ๐ช๐ญ๐ญ ๐ฆ๐ฏ๐ค๐ฐ๐ถ๐ณ๐ข๐จ๐ฆ ๐ค๐ณ๐ฆ๐ฅ๐ช๐ต ๐จ๐ณ๐ฐ๐ธ๐ต๐ฉ ๐ช๐ฏ ๐ต๐ฉ๐ฆ โ๐จ๐ฐ๐ฐ๐ฅโ ๐ด๐ฆ๐ค๐ต๐ฐ๐ณ๐ด ๐ฐ๐ง ๐ต๐ฉ๐ฆ ๐ฆ๐ค๐ฐ๐ฏ๐ฐ๐ฎ๐บ โฆ ๐๐ฉ๐ช๐ฏ๐ฆ๐ด๐ฆ ๐ฎ๐ข๐ด๐ด ๐ข๐ง๐ง๐ญ๐ถ๐ฆ๐ฏ๐ต โ ๐ธ๐ฉ๐ฐ ๐ด๐ฆ๐ฆ ๐ธ๐ฉ๐ข๐ต ๐ช๐ด ๐ค๐ฐ๐ฎ๐ช๐ฏ๐จ โ ๐ธ๐ช๐ญ๐ญ ๐ด๐ต๐ข๐ณ๐ต ๐ต๐ฐ ๐ด๐ฑ๐ช๐ณ๐ช๐ต ๐ค๐ข๐ฑ๐ช๐ต๐ข๐ญ ๐ฐ๐ถ๐ต ๐ฐ๐ง ๐๐ฉ๐ช๐ฏ๐ข โฆ ๐๐ฏ ๐ต๐ฉ๐ฆ ๐ฑ๐ข๐ด๐ต, ๐ต๐ฉ๐ฆ ๐๐๐๐ ๐ฎ๐ช๐จ๐ฉ๐ต ๐ฃ๐ฆ ๐ธ๐ฐ๐ณ๐ณ๐ช๐ฆ๐ฅ ๐ข๐ฃ๐ฐ๐ถ๐ต ๐ค๐ข๐ฑ๐ช๐ต๐ข๐ญ ๐ง๐ญ๐ช๐จ๐ฉ๐ต, ๐ฃ๐ถ๐ต ๐ต๐ฉ๐ฆ ๐ฉ๐ฐ๐ข๐ณ๐ฅ ๐ฐ๐ง ๐๐ฆ๐ด๐ต๐ฆ๐ณ๐ฏ ๐ง๐ช๐ข๐ต ๐ง๐ช๐ฏ๐ข๐ฏ๐ค๐ช๐ข๐ญ ๐ข๐ด๐ด๐ฆ๐ต๐ด โ๐ฐ๐ธ๐ฏ๐ฆ๐ฅโ ๐ฃ๐บ ๐๐ฉ๐ช๐ฏ๐ข ๐ฉ๐ข๐ด ๐ฃ๐ฆ๐ค๐ฐ๐ฎ๐ฆ ๐ข ๐ญ๐ช๐ข๐ฃ๐ช๐ญ๐ช๐ต๐บ, ๐ณ๐ข๐ต๐ฉ๐ฆ๐ณ ๐ต๐ฉ๐ข๐ฏ ๐ข๐ฏ ๐ข๐ด๐ด๐ฆ๐ต โฆ ๐๐ฉ๐ฆ ๐ณ๐ฆ๐ต๐ถ๐ณ๐ฏ ๐ฐ๐ง ๐ต๐ฉ๐ฆ ๐๐ฉ๐ช๐ฏ๐ฆ๐ด๐ฆ ๐ค๐ณ๐บ๐ฑ๐ต๐ฐ ๐ต๐ณ๐ข๐ฅ๐ฆ๐ณ ๐ต๐ฉ๐ณ๐ฐ๐ถ๐จ๐ฉ ๐ต๐ฉ๐ฆ ๐ง๐ช๐ฏ๐ข๐ฏ๐ค๐ช๐ข๐ญ ๐ฑ๐ช๐ฑ๐ฆ๐ด ๐ฐ๐ง ๐๐ฐ๐ฏ๐จ ๐๐ฐ๐ฏ๐จ ๐ธ๐ช๐ญ๐ญ ๐ณ๐ฆ๐ช๐จ๐ฏ๐ช๐ต๐ฆ ๐ต๐ฉ๐ฆ ๐ฎ๐ข๐ณ๐ฌ๐ฆ๐ต ๐ข๐ต ๐ต๐ฉ๐ฆ ๐ด๐ข๐ฎ๐ฆ ๐ต๐ช๐ฎ๐ฆ ๐ต๐ฉ๐ฆ ๐ฃ๐ณ๐ฐ๐ฌ๐ฆ-๐ข๐ด๐ด ๐๐ฎ๐ฆ๐ณ๐ช๐ค๐ข๐ฏ ๐ฎ๐ข๐ด๐ด ๐ข๐ง๐ง๐ญ๐ถ๐ฆ๐ฏ๐ต ๐ข๐ณ๐ฆ ๐ฆ๐ง๐ง๐ฆ๐ค๐ต๐ช๐ท๐ฆ๐ญ๐บ ๐ด๐ฉ๐ถ๐ต ๐ฐ๐ถ๐ต.โ
You are extremely pessimistic (cautious?) about the value of the U.S. consumer, as if crypto can never have a use case other than as an asset or FOMO. If the U.S. consumer is as weak as you suggest then the global economy might collapse. The U.S. government still needs to prop up the U.S. consumer until they are ready to stave off violent revolution. Ostensibly C19 was the trial balloon to see what they can get away with and how much cooperation can be expected with totalitarianism. They recently floated a trial balloon about returning to masks and boosters. And they were resoundingly told, โhell no.โ
1. Mass affluent cohort is 75m people.
2. Netflix 75m U.S. subscribers, average household income $50k, $20/mo subscription.
3. $360 ร 75m = $27b
4. $7500 EV tax rebates (+ up to $7500 more in Commiefornia) until 2032. Up to $4000 for a used EV.
5. Govt wants convenient access to crypto through ETFs, not private keys.
6. The 75m should be crypto users driving investment fervor, not necessarily investors.