Bitcoin Talk 013: Those Who Hold Enough Wealth Must Also Be Able to Carry Enough Debt

As Bitcoin fell all the way from 69K to 43K, if someone kept urging you to buy the dip, remember his name. Forgive him — but remember him.

Holding Bitcoin is painful more than 90% of the time, and comfortable less than 10% of the time. Perhaps that is the price of freedom.

The essence of P2P is the vast ocean of a people’s war.

On a cryptocurrency exchange, on the surface it may look like nothing but small retail traders providing all the liquidity — the great hermit hides in the marketplace. To regulate it, you’d have to open the orders one by one: place an order, check the bank account, freeze it, cancel the order, then move on to the next. Regulation is enormously difficult, and killing it would be excruciating. Any regulatory action only accelerates the decentralisation of finance.

Those who hold enough wealth must also be able to carry enough debt.