Punxsutawney Phil has seen his shadow, which apparently means six more weeks of winter. This ritual has always made me question the wisdom of a species who look to rodents for meteorological predictions. What began as a PR stunt in a small town in Pennsylvania in 1887 has evolved into a ritual that I think a lot of people might just believe.
Here in Minnesota we’ve experienced our first false-spring and, speaking from experience, it’s not to be trusted. False spring is those first handful of days in February or March where the daytime highs break just above freezing, things start to thaw, the scents of the Earth return, and we begin to let our guards down. March is notorious for lots of snow here in the Upper Midwest.
When it finally arrives, Spring in Minnesota is about the most glorious thing I’ve ever experienced. Realistically, it’s still another couple months away. After being covered in permafrost for four or five months trees and plants here literally explode with growth around mid-to-late May.
Doomer BTC Narratives
I don't know about you but I'm losing patience for the doom and gloom narratives surrounding the crypto markets lately. At this point all of the main stream media outlets finding any opportunity to kick Bitcoin while it's down is as predictable as it is laughable.
The "Epstein is Satoshi" theory has to be the most preposterous one I've heard to date but plenty of people are believing and helping to perpetuate it.
Admittedly many investors are on edge already because of how different this market cycle has been. Institutional investors have gained enough power to suppress prices but it's not in their best interest to do so forever. Sadly, I'm even seeing seasoned HODLRs losing faith.
Those who fumble and make mistakes during this downturn will probably regret it for the remainder of their lives. Trillions of dollars are waiting on the sidelines until we have regulatory clarity. Eventually Bitcoin will do what it always has and skyrocket towards a new ATH and people will pile onto the bandwagon again at higher prices.
I can't help but wonder if they ever tire of those wild emotional swings between doom and euphoria? But then I suppose drama can be a bit like a drug.
A Glimpse Into the Next 36 Months
For anyone who's interested in a snapshot of what life will be like in the next three years I'd highly recommending investing a couple hours into this pod. Tesla and SpaceX are on the verge of solving the data center problem with a novel solution—building them off-planet. There will be no power constraints, no demands on the grid, and zero pollution on Earth.
With xAI and SpaceX recently announcing a merger deal and the rumor that Tesla will join them soon, the future will be arriving sooner than we think. Starships won't be the only thing launching into orbit.
All for now. Thanks so much for reading.
The Epstein is Satoshi idea is a bit silly. But most of these reporters don't really have the first idea about Bitcoin anyway, so it may sound plausible to them, I don't know. Me — I think Satoshi never wanted money but wanted to change the world, and as soon as he saw that the main thing BTC was creating was greed instead, he got out as quickly as he could. He'll never move the money still in his account because he isn't interested in money. So claiming he is Epstein — a fixit man who got his filthy paws into everything explicitly because of his greed — is a slap in Satoshi's face.
I totally agree. I think there's also some element of control in play too. The media using the story to dissuade new buyers and persuade long time holders of BTC to sell their stacks.
I have been buying Bitcoin and BSOL (Solana etf) on the way down before the bounce yesterday.
Kathy Woods on her podcast yesterday said long term crypto winners have been identified: BTC, ETH and SOL...
Smart move! Yes, I believe most everything other than those three are a pretty big gamble at this point.
You have a wonderful view from your office. I can imagine what it must be like to see spring from there. As for cryptocurrencies, I've learned to be patient, although I won't deny that sometimes I get discouraged. A hug, Eric
I think we might just have an early spring this year. Warm temperatures might start to stabilize in early May. That would be a real treat! Patience is imperative when it comes to investing and it's the most difficult part for most people. I hope you're well Nancy!
As I said yesterday, I actually find this kind of fun. Not the whole teetering on dystopia thing, but just the fact that the crypto markets are doing something. The crabwalk has been maddening and this feels more like the crypto we know and love. At least for now.
I welcome volatility too. Anything stagnant really isn't alive, it's great to see something other than sideways movement for a change.
Yes!
Building data centres off planet? Jesus. Of course they are. As long as they don't build them here I suppose.
I wrote something on AI sentience last week after your post - not sure if you caught it or not?
I'm hodling, but I wish I'd sold when I was 40k up, that's for sure. Epstein = satoshi? Are you freaking kidding me? People will believe anythign.
Yep, that's SpaceX's plan. If they can pull it off there won't be much competition. They plan on 10k Starship launches a year to pull it off but even taking this into account the environmental impact will be far less than having on-planet data centers with our current methods of power generation.
Hmm, I didn't catch that comment. I'll have to go back and read.
This top was especially difficult to catch. So many people thought BTC was going higher. It still might, there's a pretty heated debate as to whether or not this is a bear market and we'll have to wait until Jan of '27 or if we're just consolidating here for another ATH this summer. Yeah, do you believe it?! I'm convinced people will truly believe anything. It looks like he did invest $500k into Blockstream and $3M into Coinbase around 2014 but the entire project has always been open source and there's no evidence yet that he was involved prior to 2014.
It's starting to look like the only way to scale Grok and other LLMs without melting the terrestrial power grid.
Yes, its the smartest (and probably the only) way to scale.
It's kinda poetic how we long for spring even as we go through those misleading warm days :)
Never trust "false spring". : )
Actually, pulling back from daily price action and looking 24–36 months out, whether in Bitcoin adoption or off-planet infrastructure, reframes everything. Progress rarely feels dramatic while it’s happening, but in hindsight it always looks inevitable. Winter eventually breaks, trees explode with growth, and the same crowd that doubted shows up late, amazed that it happened again.
When in doubt, zoom out!
#hive #posh