Sunday thoughts
Susan Wojcicki’s son found dead of suspected fentanyl overdose, altcoins beginning to shine, and more weekend thoughts
Caught the sad headline that former YouTube CEO Susan Wojcicki’s 19 year old son, a student at UC Berkeley, was found dead — suspected fentanyl OD of some kind.
The fentanyl crisis in America has been largely foisted upon the lower classes; Bay Area elites like Wojcicki and her Google brethren would prefer to think that such things don’t affect them — but clearly, no one is immune.
2024’s election cycle should be, in part, a referendum on the nation’s rapidly declining health — how can anyone survive anymore? Poisonous air, tainted drugs, plus COVID after effects no one seems to want to tackle scientifically rather than politically… it’s a fucking mess.
What happened to the healthy middle class? It’s a distant memory today.
Shifting gears, the crypto market seems like some souped up reiteration of the 2021 rally.
I remain mostly focused on Bitcoin itself, but don’t see myself as a bitcoin maximalist, because the fact remains that other blockchains are not scams — they’re doing what Bitcoin does, displacing TradFi, growing userbase, and inserting money use cases where there previously was only weird fiat bridges and notional economic relationships.
If the market really rips, my view is that the money flowing in through ETFs and the like goes mostly to the “flagship currency” Bitcoin — but once in there, some of that money becomes restless and greedy, and it moves elsewhere, both speculatively, and as a risk hedge against the Bitcoin rally petering out.
My alt season bets are Litecoin, which I’ve talked about before here in-depth (and which I’m mostly in profit on at this point), and Ethereum Classic.
I used to dislike Ethereum Classic, but today in distantly futuristic 2024 — where the US has already approved 11 spot Bitcoin ETFs — Ethereum Classic occupies a unique place in my personal portfolio.
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