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Rabbit Hole Recap #227: FTX was a Ponzi and held no bitcoin... who's next?

Rabbit Hole Recap

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Bitcoin - Lessons Learned by Touching the Stove

If we want to talk about lessons learned by touching the stove, imagine if this is the cycle that not only teaches people that first of all, the real yield is holding a long-term position in Bitcoin. We might get a proof-of-stake censorship lesson because they haven't the 32nd largest holder. If we had all of those lessons in a single bear cycle, we would be completely vindicated. It'd be very hard to stay humble. Everything we've been saying. Again, it does suck that people are getting washed out. Well, and there were poorer because the Bitcoin that we did start buying after we lost on...

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