Wednesday, February 10th 2021 - Issue #926

Cold Shower Wednesday

Your Uncle Marty has been pretty gung-ho around this dirty part of the Internet over the last few weeks. Let's be frank, it's hard not to be with all the developments that have surfaced in regards to Bitcoin adoption by some of the world's most respected, prosperous, and followed companies and individuals. After years of being derided as a supporter of a digital currency that is solely leveraged by speculators, drug dealers and terrorists; it's good to be able to counter those dumb tropes by pointing to companies and individuals many around the world consider to be on the cutting edge of innovation and say, "Do these people look like drug dealers, terrorists, and/or speculators to you, Frank?" The recent stream of news has certainly been well received by bitcoiners, as it should be.

However, as our friend Neil Woodfine points out, the rash of good news should not be reason for bitcoiners to let their guards down and throw adversarial thinking out the window. The possibility of these recent developments being a major setup for a big let down cannot be overlooked. Especially considering the types of players involved and their penchant to cater to regulators so they can keep their businesses operational. Are these new hodlers down for the cause? Will they step up to the plate and go to bat for Bitcoin, particularly the ability of individuals to self-custody their bitcoin, if the pressure from regulators gets intense? We shall see.

This issue isn't an endorsement of Neil's prediction. I believe there is a chance that this scenario plays out, but I think it is less likely than Neil seems to believe it is. My belief stems from something I've been harping on incessantly for the last couple of months; we have reached a cultural tipping point that I find is going to be very hard to reverse. Even for the State and their cronies. Confidence in, understanding of, and public support of the Bitcoin network is at all time highs. Uncle Marty only expects this trend to continue. This trend coupled with the fact that Bitcoin is an exponential technology leveraging another exponential technology that immediately preceded it in the Internet leads me to believe, again, that this is going to happen much faster than most people expect. Regardless of any moves by any government to perturb its growth and proliferation.

The State is not only powerless against the inevitable adoption of Bitcoin in the long-term, public trust in the institution of government is eroding quicker than a snowball in a hot tub. Any moves to stifle Bitcoin adoption will be met with fierce push back from an already enraged global populace. With that being said, it's important to think adversarially. Even though I think Neil's prediction is less likely to play out than Bitcoin adoption going exponential, it certainly cannot be ruled out of the realm of possibility.

Keep your head on a swivel, freak.

Final thought...

Back under 200. Bringing senior year of high school Marty to the $200k party.

Looking to buy bitcoin with ease? Download the Cash App, use the code "stackingsats", get $10 and Cash App will send $10 to our friends at OWLS Lacrosse.

If you'd like to set up a one-on-one chat to learn more about Bitcoin I offer consulting services for an hourly fee. Please feel free to respond to this email if you're interested.

Share

Forward

Hope you enjoyed today's issue. If you have any friends that are looking to find out more about Bitcoin have them sign up for this newsletter here:

Get Ƀent

Ƀent noun 1. direction taken, as by one's interests; inclination.

Thanks for reading Marty's Ƀent, a daily newsletter containing all the information I found interesting in the Bitcoin world in the last 24 hours.

Marty's Ƀent - February 10th, 2021 - Issue #926

Cold Shower Wednesday

Older messages

Marty's Ƀent - February 11th, 2021 - Issue #927

Marty's Ƀent - February 12th, 2021 - Issue #928

Marty's Ƀent - February 9th, 2021 - Issue #925

Marty's Ƀent - February 8th, 2021 - Issue #924

The Sat Standard - Bitcoin Weekly - Feb 6 2021

You Might Also Like

Polygon leads in EVM efficiency as DeFi users favor low transaction costs

Asia's weekly TOP10 crypto news (Apr 22 to Apr 28)

A Path Forward: Retro Funding and Revitalization | BanklessDAO Weekly Rollup

Polkadot community backs SnowBridge for seamless Ethereum integration

Weekly Project Updates: Binance Launches Renzo on Launchpool, EOS Introduces New Tokenomics, $SAFE Begins Circulat…

OP's Superchain Vision | Layer 2 Review

Investor exodus from Bitcoin ETFs as BlackRock and Fidelity see significant outflows

Raise your onchain score

NFT & Blockchain Gaming Weekly - 📈 Runes Dominated BTC Transactions Post-Halving

WuBlockchain Weekly: SEC Expected to Reject Ethereum Spot ETF, ConsenSys Sues SEC, CZ trial is approaching and Top…