Plus: Japan's remarkably profitable prop trading desk, the great software reset, prediction market manipulation, and why everyone loves to hate America
FT Alphaville is confusing the failure of System A’s plumbing with the failure of the asset itself. When a broker like BlockFills halts withdrawals, it’s not Bitcoin that has failed—it’s the counterparty credit of a centralized middleman that has collapsed. If a gold vault locks its doors because the manager gambled away the bullion, you don't blame the gold; you blame the fraud. The "paper printing machine" FT mocks is actually the mess created by System A intermediaries who issued more IOUs than they held on-chain. Real Bitcoin, guarded by 800 EH/s of physical energy, is the only asset in the world that cannot be printed.
The attempt to smear Bitcoin with Epstein’s name is a desperate narrative distraction. The physics of the hashrate doesn't care about social gossip. Furthermore, the migration of miners to Russia isn't a retreat; it’s Energy Arbitrage. As System C’s application layer (AI) outbids the West’s grid, the settlement layer (BTC) naturally flows to System B’s energy surplus. This is a cold, rational optimization of Joules. FT is still using an old map to criticize a new continent—they are mistaking the broken pipes of their own world for a leak in the bedrock of ours.
Coming Soon: The financial world is still trying to price a 21st-century physical asset with 19th-century mental models. In my upcoming report, "Bitcoin: The Native Base Currency of System C," I will dismantle these category errors once and for all and reveal the mathematical "Hard Floor" that no banker can print away.
Nice summary.
FT Alphaville is confusing the failure of System A’s plumbing with the failure of the asset itself. When a broker like BlockFills halts withdrawals, it’s not Bitcoin that has failed—it’s the counterparty credit of a centralized middleman that has collapsed. If a gold vault locks its doors because the manager gambled away the bullion, you don't blame the gold; you blame the fraud. The "paper printing machine" FT mocks is actually the mess created by System A intermediaries who issued more IOUs than they held on-chain. Real Bitcoin, guarded by 800 EH/s of physical energy, is the only asset in the world that cannot be printed.
The attempt to smear Bitcoin with Epstein’s name is a desperate narrative distraction. The physics of the hashrate doesn't care about social gossip. Furthermore, the migration of miners to Russia isn't a retreat; it’s Energy Arbitrage. As System C’s application layer (AI) outbids the West’s grid, the settlement layer (BTC) naturally flows to System B’s energy surplus. This is a cold, rational optimization of Joules. FT is still using an old map to criticize a new continent—they are mistaking the broken pipes of their own world for a leak in the bedrock of ours.
Coming Soon: The financial world is still trying to price a 21st-century physical asset with 19th-century mental models. In my upcoming report, "Bitcoin: The Native Base Currency of System C," I will dismantle these category errors once and for all and reveal the mathematical "Hard Floor" that no banker can print away.
Not buying it.