It’s been so long since I’ve written here that the platform editor is completely different
To bring you up to speed:
I worked with Kraken for a couple years and now I work for a different non bitcoin-related employer. They take great care of me and provide ample runway to allow my corn an opportunity for growth and for them I am eternally grateful. I’m doing well as well and hope that the rest of my bitcoin family is doing well as well. I
This Blog has been a whole mix of things, from a review site to an analysis site, to just shooting random ideas and musings. I believe the original purpose I had for honeybadgerofmoney.com was to sell bumper stickers and window decals to grow and promote bitcoin (and at one point I did a run of dogecoin bumper stickers too, lol). None of those things really panned out how I wanted them to but that’s more my own fault with not wanting to push the idea further and to hack it out. No, instead I focused on learning more than just database administration and picked up some skills and experiences building automation and applications development. Those skills came along from my continued curiosity about bitcoin.
To that, I’d like to, (from this point) make this blog a raw repository for my thoughts and observations regarding Bitcoin and perhaps other cryptocurrencies from an adversarial perspective. To me, what matters within a few hundred years is that we can have a unified, first hand, narrative account of what happened here. Then, I will take this collective of blog posts and to turn it into a series of books that will act as a chronicle for Bitcoin from where I see it. Bitcoin as in the protocol, the ecosystem of software that supports what can be done with the protocol, and the community at large. It wouldn’t make sense to give a chronicle without giving an unbiased voice on others.
Admittedly this feels a bit daunting in scope, but as the saying goes, you eat an elephant: one bite at a time. To accomplish this goal means a steady commitment to writing, perhaps daily, about the musings and goings in within the world of bitcoin. I for one AM uniquely positioned as a long-running moderator of the /r/bitcoin subreddit so I’ve seen all sorts of denied comments and banned language. At the same time, I’ve been around for a while. If you’re new around here, welcome! I’d love to help and answer any questions you’ve got. Who knows, maybe I’ll write about you (with permission of course).
What’s in this for me? Let’s get that out of the way right now: I want ancillary income (wouldn’t we all?) which I’ll spend on whatever I’d wish, mainly bitcoin, but probably all sorts of other random stuff too. I plan to turn most of these posts going forward into something published at which point I’ll sell them as a completed book for something reasonable, like a 40K satoshis or so. You’re not looking for these to rabbit hole yourself into bitcoin per se, there are plenty of excellent books to get you up to speed. You’re buying my books to have a written body of work from the same unbiased source over the years to discuss my musings with folks involved with bitcoin and to discuss the topics of the current day. Thank you and let’s stack!
Current events timeline:
- Today the price of bitcoin fell below $30K for the first time since July 2021, the price rose to $69K briefly in November 2021 and briefly to 65K earlier that year during April. The price of Bitcoin has been on a steady decline for months now (as I write this). As much as I was being a bull-tard last year, I’m sure we’re in a bear market right now. We all fell for the whole 4 year cycle causing higher highs and presuming there was certainly going to be a bump past $100K USD. Furthermore, the current consensus seems to be that the leading holders of bitcoin are still trading in tandem with bitcoin as a risk-on asset as opposed to as a long term vehicle for wealth (a harder money as most bitcoin maximalists would claim it to be: because it is).
- Do Qwan‘s accumulated bitcoin for a stable-coin Ponzi scheme is suspected of being dumped on Binance soon (see the embedded tweet below.
- There’s contention about BIP 119 because it’s feared that the design decisions are intended to support a few niche cases meant to replicate the features found within Ethereum by providing a new op_code.
- People are murmuring about Michael Saylor being ‘margin-called’ over Bitcoin price because a portion of it has been collateralized at a given price. What most have also failed to consider is that the portion of bitcoin that is collateralized by MicroStrategy is far smaller than their entire Bitcoin holdings, it would be trivial for MicroStrategy to add more bitcoin to the position, lowering the margin strike price further. They would then acquire even more Bitcoin at this depressed price.
- If you hold a derivative of an Bitcoin based holding such as VYGFV, MSTR, COIN (if you can even call them that as they mostly deal with altcoins), or GBTC, you’re feeling the combination of both a depresses stock market AND Bitcoin’s poor price action, you’d do best to just hold Bitcoin if you can simply to avoid this complication.
Word of warning
If you choose to hold bitcoin derivatives in the form of stock, I and many other Bitcoin maximalists would argue that you’re likely using Bitcoin as a means to grow your fiat net worth rather than your Bitcoin net worth. Hold your wealth in Bitcoin to actually reap the benefits of the system, a system where we’re not allowing a centralized coordinator to inflate the quantity of bitcoin available. If you want to see what inflation would be if it were bitcoin, simply look at every single altcoin in existence, they’re all inflation in terms of the concept of cryptocurrency to be used to hold your store of value. You could argue that if all of those different cryptocurrencies were fungible (what scammers WANT you to think yield farming is) then they’re all in effect greed-driven inflation and that the reward for buying in to cryptocurrency becomes a zero sum game eventually. This is why I press that you don’t bother with Altcoins.
Final thoughts
I’ll be reviewing all of my past posts and will begin to start to fill in some details and context as I can and will possibly fill in back-dated blog posts when talking about those experiences. I’ll still include a drafted-on tag but will set it so that it fits within the dating timeline of the other posts on honeybadgerofmoney. I’ll still be listing some of the old merchandise that I’ve got, but I doubt that I’ll be adding more or reordering items. I know my Bitcoin python private key script is broken and I’m looking into fixing it and I know my personal website portfolio is now jacked up and out of alignment but I’ll get around to those things when I can. If those things are fixed, I’ll be sure to let you all know.
