Pump

has rocketed into 2024 as an absolute game-changer in the world of memecoins. This innovative platform allows users to effortlessly create and launch new tokens that are instantly tradeable without the need to seed liquidity. Let’s dive into the details. Pump.fun Pump.fun launched in January 2024 by carving out a unique space in the crypto landscape by catering specifically to the memecoin crowd. Pump quickly gained traction due to its fun, 4chan-like user-friendly platform that allows anyone to create and trade memecoins in a couple of clicks. Key Features of Pump.fun : Unlike traditional token creation processes, Pump.fun enables users to launch coins that can be traded immediately. No waiting for liquidity to accumulate, no reviews, no submissions, nothing—just create, trade, and have fun! Instantly Tradeable Tokens : Pump.fun introduced a for trading Solana and Blast tokens. This model ensures that liquidity is dynamically adjusted based on demand, providing an alternative approach to liquidity provision. Bonding Curve Model bonding curve model : One of the standout features of Pump.fun is its inbuilt safety mechanism. Unlike many other meme coins, tokens issued on Pump.fun are protected against —a common crypto scam where token issuers drain liquidity and effectively pull the rug on holders. Every coin on Pump.fun undergoes a fair launch with no pre-sale or team allocation, minimizing the risk of scams. Safety Mechanism Against Rug Pulls rug pulls The core functionality of Pump.fun revolves around empowering users to become their own memecoin architects, known on Pump as . If I wanted to give you a showing you what steps you need to take to deploy a token on Pump, it would be a complete waste of time because it’s as easy as That’s it! Devs how-to guide 1. connecting your Web3, 2. clicking [start new coin], 3. filling in four fields and 4. clicking [Create new coin]. Solana and Blast Integration Pump.fun primarily operates on the , leveraging its fast transaction speeds and low fees. Solana is currently experiencing congestion issues which Pump says may impact transaction times, but the platform continues to thrive. Solana network Recently, Pump.fun extended its support to the as well. Blast, a relatively new player, and offers additional opportunities for token creators and traders. By integrating with more networks Pump.fun essentially expands its reach into different crypto communities. Blast network What’s The Cost? Memelords AKA users AKA Devs can expect to pay 0.02 SOL which is currently about $3. It’s amazing when you really think about how far we have come! 3 bucks to launch your own crypto meme token. Wow! What Happens After Deployment? After launching a token on Pump.fun, a few things happen: Your newly created memecoin becomes available for immediate trading on the Pump.fun platform. Users can buy and sell your token based on the bonding curve, which adjusts the price dynamically based on supply and demand. Trading Begins: The success of your memecoin often hinges on building a strong community. You can promote your token on social media, forums, and other online platforms to attract buyers and generate interest. Pump.fun itself has a built-in community board where you can connect with potential investors. Community Building: : When a token’s market capitalization reaches a certain threshold (e.g., $69,000), a portion of liquidity is deposited to and burned. Burning ensures fairness and prevents manipulation, maintaining a healthy token ecosystem. Once this process happens, the Pump.fun launch is effectively over with the token now being traded on Raydium. Beware; few tokens make it to Raydium which is all part of the fun. Burning Mechanism Raydium Success Stories : The first token on Pump.fun transitioned to the liquidity pool of Raydium, symbolizing the platform’s success. BaoBaoSol Other notable tokens include and , valued at $100 million and $35 million, respectively. Shark Cat (SC) Hobbes Overall, launching a token on Pump.fun is just the first step. To ensure its long-term success, you'll need to actively build a community, manage price fluctuations, and potentially explore ways to add additional value or utility to your memecoin. Or just be a degenerate and roll the dice! In summary, ! I’ve spent countless hours on Pump.fun apeing into random things and even playing around with my own launches. Pump opens doors to creativity, profitability, and engagement like never before - 🚀🌟 fun is literally in the name enjoy the ride!

Pump.fun - 2024's New Memecoin Playground

The morning began as it always did. Blanket aside, sleepy gait, morning ritual, and the usual way to work. Even if the place of work is the desk in the next room. Every successful coach screams about fighting this system. But in fact, you don't need to fight it. It's enough to understand how it works and use it to your benefit. That's what neurohacking is all about. Dopamine mining in the 21st century: inflation Huxley's Brave New World is a super-concentrated utopia in which sources of quick gratification have possessed people. A button come off? Buy a new piece. Food, sex, entertainment - everything is calibrated and available. Even social elevators are predetermined from birth and literally written into your genocode. But let's move away from fiction and look at reality. In it, cyberpsychology and society are closely intertwined into a single structure that generates myths, supports them, and brings them to life. Dopamine swing The whole marketing industry is swinging a huge pendulum of neurohormones. At its highest point is dopamine. And at its lowest point, corticoliberin. It is the fear hormone, and slogans press it: "offer is limited", "the goods are running out", "discount for the first 10 buyers": The fear of being inferior to others hits our nerves because the loss of social status is comparable to death. If a major official/banker/top manager loses his position, the probability of his suicide increases many times over. It seems to us that work remains the only lifeline, without which we will be doomed to die in misery. Technological advances have spawned a synthesis of psychological mechanisms with advances in cybernetics. Today, cyberpsychology understands how to engage a person in absorbing material. How to create an interest that spurs one to watch a new series, go through another rink, or spend hours watching ten-second videos of cats and songs. Millions of years of starvation still outweigh 200 years of conventional satiety. Calories have become more dangerous than lead bullets. We're like primitive humans opening fire. Only we're not just warming ourselves by the fire. The problem is that the fire has become too much, and we are literally burning alive. Even though modern life is safe enough, the body refuses to accept it. Any lunge towards our safety or any threat to our social status is met with hostility. And the brain starts looking for solutions. Marketers present them on a silver platter. Speed is the main adversary We want to solve problems quickly. We also want achievements to stay with us for a long time. But what exactly they should look like, we have no idea. To be more precise, we stopped having about since childhood. Back then, we knew exactly the charm of the very stick, an unusual stone, or could wander for hours among a few trees while our brains drew incredible pictures of grandeur and adventure. But now we look up to seeming authorities who are slightly different from us. Authoritarians who broadcast the same things from every screen: Only true professionals use this smartphone. The super camera, the incredible processor, the screen with the number of colors your eye can't distinguish anyway. But this device becomes obsolete after a year, and you must make your next purchase to get back on track. Want to be fashionable? Here are the expensive brands. Here are ready-to-wear collections. Here are the dressed mannequins. Just take the same and enjoy! You don't need to tell everyone you are rich and fashion-savvy. Just wear the things we've already prepared for you. Have you heard of such a thing as constant self-development? We already spend a third of our lives sleeping! Don't waste time being bored. Boredom and procrastination are a virus worse than COVID-19. Here's a new series, a new movie, a new game. Give your brain a chance to solve interesting puzzles and sit down to work afterward. Develop your cultural experience. Play games, pumping up your game character. Just for your own sake, don't fall into laziness. Otherwise, unnecessary thoughts will start popping up in your head. Add to this shopping on the Internet, delivery services, social networking sites, and a man charged with caffeine who rushes through a maze of entertainment devices in pursuit of the horizon line that looms on every screen. And there is no way to get to it. Neurohacking of dopamine sources So, so far, the situation looks extremely unpleasant. There is a huge target on everyone's forehead, into which a beam of information stimuli is relentlessly beating. It is almost impossible to escape, but there is a way out. Neurohacking is not about taking grandmother's drugs to enhance brain activity. It is a way of life formed from understanding cognitive-behavioral principles and working not with the form of stimuli but with their essence. Power of habits "Step on the system". It applies to people with any type of addiction. Alcohol, drugs, and gambling become a natural ritual, like brushing your teeth or the route to work. To beat the system in the literal sense of the word is impossible. After all, fighting it will already be a reminder of its existence. Therefore, use switching: A notepad or text file in which you write down 3-5 events every day that brought you a moment of happiness. A beautiful sunset, a walk after the office, a dog you petted, a delicious lunch you made yourself. Allowing boredom. Boredom and procrastination are the same as a fever during a cold. It's only worth bringing it down when it's critical. Boredom indicates that you are doing something meaningless. And, quite possibly, there are more productive areas that need your attention. So it's worth giving them a little more attention. Cleansing. I think you know the feeling of not wanting to go to the shower. And then you don't want to get out of it. Same thing with dopamine. Walking on the landing with your smartphone turned off and not even music in your headphones... It seems like torture, but it will be extremely difficult to complete once you start the walk. For starters, you don't have to take it seriously. You're not struggling. You're not giving up habits. You are trying a new way of life. Everything is available to you, and nothing is beyond your control. This is the basis for the principles of Stoicism, which serves as a great balancing act when categorizing personal values. Shifting focus: what is stigmatized by marketers What's written above is a child's warm-up. You know, like morning exercise compared to professional sports. Only your main competition is all the mass marketing. Because to find happiness, you don't need marketing attributes. Comparing yourself with images on advertising posters is similar to biting your nails or lips. It is a kind of 21st-century self-harm. Cyberpsychology studies the tools used in the media by people and companies. These tools dictate the precepts of a successful, productive world. But their status quo can be disrupted by an alternate view conjured up in the mind: You don't need a new keyboard, a smartphone, or a branded notepad to be successful. You can afford all of those things. But it has no power over you. Buy things to get a dopamine boost. But remember that they are only things, and you can easily gift them to loved ones. Or part with them with no regrets. Happiness, like success, cannot be an attainable goal. Like, for example, a profession. It seems that here I will become a freelancer and will type on a chaise lounge on the island. But the screen glares, the charge is not enough, typing is uncomfortable, and it is generally hot. Happiness, success, and freelancing are states, but not an end in themselves. And it is almost impossible to acquire them. Your lifestyle will always seem miserable to some people. And someone will be shocked by its luxury. As Peter H. Diamandis wrote, there are 2 kinds of poverty. Absolute, when you have nothing to eat, and relative, when everyone else has the 12th iPhone, and you have only the 11th. You already have everything you need to experience pleasure and happiness. But it's like comparing a home chandelier to the 3D hologram from the Blade Runner remake... Advertising will always be brighter and more attractive. We will never own the products of the marketing world but only rent them, committing to changing sets of clothes, appliances, and even our personal data. They are left on a hundred websites and no longer belong to us but to supposedly secure databases. Is dopamine gluttony so bad? It may seem like a fierce criticism of modern society and consumer culture. But I'm not. It's more of an illumination of the situation as a whole. Marketing does put pressure on the mind, but companies can't do otherwise. But we can. There is already a culture of alcohol consumption in society. So why stop at just that? A culture of consuming gaming content, media content, marketing content... The excess of stimuli pushing on the dopamine receptors can really be bypassed. It's enough to choose your own goals, instead of being guided by marketing tricks. And yes, you just took a ride on the dopamine-corticoliberine swing.

Dopamine Pumps: Neurohacking Habits

ডোপামিন পাম্প: নিউরোহ্যাকিং অভ্যাস

Dopamin-Pumpen: Neurohacking-Gewohnheiten

Bombas de dopamina: hábitos de neurohacking

Pompes à dopamine : habitudes de neurohacking

डोपामाइन पंप्स: न्यूरोहैकिंग आदतें

ドーパミンポンプ: ニューロハッキングの習慣

도파민 펌프: 신경해킹 습관

Дофаминовые помпы: привычки нейрохакинга

Dopamin Pompaları: Nörohacking Alışkanlıkları

Bơm Dopamine: Thói quen tấn công thần kinh

多巴胺泵：神经黑客习惯

MODEL PUMPS.

A Floating City and The Blockade Runners by Jules Verne, is part of the HackerNoon Books Series. You can jump to any chapter in this book . Chapter XXVI here CHAPTER XXVI. In the meantime the pumps were exhausting the lake which had been formed in the hold of the “Great Eastern,” like a lagoon in the middle of an island; powerfully and rapidly worked by steam they speedily restored to the Atlantic that which belonged to it. The rain had ceased and the wind freshened again, but the sky, swept by the tempest, was clear. I stayed several hours after dark walking on deck. Great floods of light poured from the half-opened hatchways of the saloons, and at the stern stretched a phosphorescent light as far as the eye could reach, streaked here and there by the luminous crests of the waves. The stars reflected in the lactescent water appeared and disappeared, as though peering through rapidly driving clouds. Night had spread her sombre covering far and near; forward roared the thunder of the wheels, whilst beneath me I heard the clanking of the rudder-chains. Going back to the saloon door I was surprised to see there a compact crowd of spectators, and to hear vociferous applauses, for, in spite of the day’s disasters, the entertainment was taking place as usual. Not a thought of the wounded and, perhaps, dying sailor. The assembly seemed highly animated, and loud hurrahs hailed the appearance of a troop of minstrels on board the “Great Eastern.” The niggers—black, or blackened, according to their origin—were no others than sailors in disguise. They were dressed in cast-off trumpery, ornamented with sea-biscuits for buttons; the opera-glasses which they sported were composed of two bottles fastened together, and their jew’s-harps consisted of catgut stretched on cork. These merry-andrews were amusing enough upon the whole; they sang comic songs, and improvised a mixture of puns and cock-and-bull stories. The uproarious cheers with which their performances were greeted only made them increase their contortions and grimaces, until one of them, as nimble as a monkey, finished the performance by dancing the sailor’s hornpipe. However amusing the minstrels may have been, they had not succeeded in attracting all the passengers. Numbers of them had flocked to their usual haunt, the “smoking-room,” and were eagerly pressing round the gaming-tables, where enormous stakes were being made, some defending their acquisitions during the voyage, others trying to conquer fate by making rash wagers at the last moment. The room was in a violent uproar, one could hear the voice of the money agent crying the stakes, the oaths of the losers, the clinking of gold, and the rustling of dollar-papers; then there was a sudden lull, the uproar was silenced by a bold stake, but as soon as the result was known the noise was redoubled. I very seldom entered the smoking-room, for I have a horror of gambling. It is always a vulgar and often an unhealthy pastime, and it is a vice which does not go alone; the man who gambles will find himself capable of any evil. Here reigned Harry Drake in the midst of his parasites, here also flourished those adventurers who were going to seek their fortunes in America. I always avoided a meeting with these boisterous men, so this evening I passed the door without going in, when my attention was arrested by a violent outburst of cries and curses. I listened, and, after a moment’s silence, to my great astonishment I thought I could distinguish Fabian’s voice. What could he be doing in this place? Had he come here to look for his enemy, and thus the catastrophe, until now avoided, been brought about? I quickly pushed the door open: at this moment the uproar was at its height. In the midst of the crowd of gamblers I saw Fabian standing facing Harry Drake. I hurried towards him, Harry Drake had undoubtedly grossly insulted him, for Fabian was aiming a blow with his fist at him, and if it did not reach the place it was intended for, it was only because Corsican suddenly appeared and stopped him with a quick gesture. But, addressing himself to his enemy, Fabian said, in a cold, sarcastic tone,— “Do you accept that blow?” “Yes,” replied Drake, “and here is my card!” Thus, in spite of our efforts, an inevitable fatality had brought these two deadly enemies together. It was too late to separate them now, events must take their course. Captain Corsican looked at me, and I was surprised to see sadness rather than annoyance in his eyes. In the meantime Fabian picked up the card which Harry Drake had thrown on the table. He held it between the tips of his fingers as if loath to touch it. Corsican was pale, and my heart beat wildly. At last Fabian looked at the card, and read the name on it, then with a voice stifled by passion he cried,— “Harry Drake! you! you! you!” “The same, Captain Mac Elwin,” quietly replied Fabian’s rival. We were not deceived, if Fabian was ignorant until now of Drake’s name, the latter was only too well aware of Fabian’s presence on the “Great Eastern.” About HackerNoon Book Series: We bring you the most important technical, scientific, and insightful public domain books. This book is part of the public domain. Jules Verne (2022). A Floating City and The Blockade Runners. Urbana, Illinois: Project Gutenberg. Retrieved October 2022 https://www.gutenberg.org/files/67829/67829-h/67829-h.htm This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at , located at . www.gutenberg.org https://www.gutenberg.org/policy/license.html

In the meantime the pumps were exhausting the lake

Bitcoin’s price is up 21% since last week. Some say that’s because of the new and Blackrock’s spot bitcoin ETF proposal. Wall Street crypto exchange Did anybody look at what happened with ? TUSD stablecoin Looking for FUD in all the wrong places While the total stablecoin market dropped last week, over 1 billion new TUSD tokens were minted out of nowhere on June 15–16, when Bitcoin’s price started its most recent pump from $25,000 to $30,000. What an odd coincidence. While anybody can mint TUSD, generally speaking, TUSD finds its largest usage in Asia, not the US. If a big US entity wanted to FOMO the news, they would either do it with cash or USDC, not TUSD. On top of that, the estimated leverage ratio—a metric that looks at the amount of money traders borrow on exchanges relative to the total amount of Bitcoins available for buying and selling—went up sharply over that same time. Fishy fishy. Almost like somebody was trying to pump the markets to make a quick payday. Twitter conspiracy theorists flagged unusual TUSD activity on Binance, too. I can’t confirm that but it makes sense that whoever’s pumping the market does it on Binance. The exchange has the deepest order books and its management has a history of turning a blind eye to these types of shenanigans. No gravedancing yet Looks like we have some shady business going on behind the scenes. Nothing new for crypto. Does that mean the pumpers will yank away the rug and crypto bears will get that massive, catastrophic crash they’re anticipating? Should we expect Tether will collapse or Binance will implode? Maybe. Are you sure you want to bet on that? As you can see in on-chain data that’s too much to put in this brief article, we just don’t have a lot of sellers right now. That will change as prices go up or the “macro” changes. For now, accept the market as it is and plan accordingly. The crypto market’s been known to explode from a little pumpage at just the right time. Sidelined capital rushes in and people waiting for that crash to $10,000 decide “$30k is good enough.” Next thing you know, we’re off to the races. (Not a prediction, just something we’ve seen before in situations like these.) Smooth sailing? Certainly, with over 200,000 bitcoins in the hands of the US government and another 137,000 scheduled to hit the market in September as part of the Mt. Gox settlement, you may want to tamp down on your FOMO. That’s not a lot of bitcoin but it can weigh down the market if it all gets sold too quickly. You had more than a year to get a healthy allocation to crypto. You did! Now you can let the market go where it wants. Tether is still a black hole and several important governments think Binance is a criminal enterprise. Exchanges can only pull shenanigans with stablecoins for so long until reality catches up with them. It’s been that way for years, yet the market still has its moments of sunshine. Why do you think that has to change now? There’s a difference between the entities trying to make money off of cryptocurrency, and the cryptocurrency itself. We’re investing in the crypto, not the entities. https://hackernoon.com/another-vc-ditches-crypto-good?embedable=true But that’s a story for another day. Today, we see a lot of excitement and new money coming into the market. Just remember how this pump started, in case it ends sooner than you think. Mark Helfman publishes the newsletter. He is also the author of three books and a top bitcoin writer on and . Learn more about him in his and connect with him on or . Crypto is Easy Medium Hacker Noon bio Superpeer Tealfeed

Blackrock’s ETF Isn’t Pumping Bitcoin’s Price. TUSD is.

The worthless token in question is HYDRO of Hydro Protocol, which was supposed to grant holders access to the platform to build apps and businesses on Ethereum blockchain. HYDRO was a classic pump-and-dump scheme, where the market maker called Moonwalker was manipulating the market by using a “bot” to submit buy & sell orders into the order-books on the exchanges, immediately canceling them, and printing fake volume, all with the goal to create an illusion of market activity and trading in the token. Apparently, the HYDRO token was listed on 17 different crypto exchanges and the “strategy” of the project was to list on as many low-volume exchanges as possible, with the goal of creating an illusion of trading & demand for the token, before approaching a large & establish crypto exchange with a proposal for listing. Hydro must pay $2.8 million in fines for the sale of a worthless token, while the market maker was forced to pay $42,000. Wash trading and pump-and-dumps are part of a bigger problem in the crypto industry, where the project issuing tokens face enormous pressure from the trading community, investors and exchanges to achieve unrealistically high returns and volume numbers. The project losses since they are conducting questionable & illegal activities that will long term hurt them. The investors and trading community are at a loss since they cannot trust liquidity, volume or the price of the token. The exchanges are at a loss since their traders are exposed to tokens that will in the end result in losses. Very surprisingly, since 2013 till today, the SEC has charged only on two occasions for market manipulation. I expect that number to increase in the coming years as the regulator and crypto industry get a better awareness of the harmful activities done by unethical market makers.

SEC Charges Crypto Market Maker in a Pump-and-dump of a Worthless Token

AI and The Blockchain AI tools like ChatGPT and OpenAI are taking the world by storm. Everyone is posting ChatGPT screenshots on , Reddit, and many other websites! , which helps you create fantastic avatars, has also risen to the top of the app charts, and everyone is posting their superhero avatars on social media! On the other hand, crypto and web3 are changing how we deal with money and ownership of digital assets. How can these two groundbreaking technologies and trends combine and create something that genuinely changes the world? Twitter Lensa AI The convergence of AI and blockchain technology can revolutionize various industries and change how we interact with technology and each other. No wonder that I have seen a lot of tweets wondering whether the crypto crowd is more intrigued by AI, no thanks to the current bear market. In this article, I am expounding on a few ways in which these two technologies can be combined without the need to choose one or the other. Decentralized AI One of the key ways these two technologies can combine is through decentralized AI, which utilizes blockchain technology to enable a distributed network of computers to train and operate machine learning models. This approach has several potential benefits, including increased user privacy and security and reduced reliance on large centralized organizations to develop and deploy AI systems. One potential use case for decentralized AI is in the realm of personal assistants, such as chatbots or virtual assistants. These systems are typically trained on large amounts of personal data, often collected and controlled by a single organization. By using decentralized AI, individuals could train their personal assistant models using their own data while accessing the broader network's collective knowledge and resources. Data providers (the actual users) could also get rewarded for their data using crypto. The use of blockchain technology in the financial industry has already begun to gain traction with the proliferation of cryptocurrencies and other DeFi (decentralized financial) instruments. However, the integration of AI into these systems has the potential to take this even further by enabling more sophisticated and intelligent financial instruments and services. Another potential application of decentralized AI is in the field of finance. For example, decentralized AI could develop advanced trading algorithms to make more accurate and profitable investment decisions based on vast market data. Crypto degens could theoretically make smarter investment and trading decisions based on these HFT models. Decentralized AI could also create more intelligent and personalized financial services, such as budgeting and savings tools that can learn from an individual's spending habits and offer tailored advice and recommendations. This could help individuals to manage their finances better and make more informed decisions about their money. Digital Identity Another potential use case for the convergence of AI and blockchain technology is in the realm of digital identity and authentication. The use of blockchain-based systems for storing and verifying identity information has the potential to improve the security and privacy of online interactions significantly. By integrating AI into these systems, it would be possible to develop more sophisticated and intelligent methods for verifying and authenticating identities, using a combination of traditional credentials, such as passwords and security questions, as well as biometric data, such as fingerprints and facial recognition. This could give individuals more control over their digital identities while making it harder for attackers to impersonate or steal their personal information. Soon, this kind of AI could also assist in thwarting Sybil attacks. Overall, the convergence of AI and blockchain technology has the potential to create a wide range of exciting new applications and services that could significantly improve our lives. By enabling decentralized networks of computers to train and operate machine learning models, these technologies could increase privacy and security, reduce reliance on large centralized organizations, and create more intelligent and personalized services. The possibilities are limitless, and it will be exciting to see what the future holds for this rapidly evolving field.

Why Crypto Degens Are Pumped about AI

On the heels of FTX’s demise, in advance of the potential collapse of USDT Tether, amidst the tightest monetary environment in a generation, staring at a looming global recession, we brace ourselves for the end of the biggest pump-and-dump in history, a rug-pull of epic proportions. Did you think I was talking about bitcoin? No. I’ll get to that later. In the first two decades of the 21st Century, the world’s central banks pumped outrageous amounts of money into the financial markets. Look at the world’s supply of money from 2001 to today, as a percentage of GDP: How’s that a pump-and-dump, you ask? Little by little, the world’s governments bought assets, slowly building up a base, and gradually taking supply from weak hands and distressed holders. This bid up prices. Then, in 2020, they pumped a bunch of money into the market. Prices of everything went up a lot, quickly. As the owners of so much of the world’s assets, central banks could control the pace of selling. They let prices zoom. People FOMO’d into houses, businesses, cars, stocks, and pretty much everything they could afford. Once enough people bought into the pump, central banks raised rates and started to dump their assets. Now they’re yanking money out of the system, rug-pulling asset holders, and leaving new buyers holding the bag. When you do it, it’s illegal. When the government does it, it’s policy Some might call that market manipulation, but at least they told you what they were going to do. Transparency! If it seems like the worst is over, remember that assets like stocks, bonds, and real estate remain higher than their historical benchmarks. In other words, even after central banks wiped possibly $50 trillion off of the world’s balance sheets, major legacy assets still have plenty of room to fall before they get back to “normal.” Crypto, on the other hand, has already crashed. Its pump has already been dumped. Now, traders and VCs will settle whatever debts they owe each other while bad cryptos die, freeing up money and talent for good projects and healthy firms. Can’t ignore reality Mark, you’re nuts, crypto’s a mess, it’s all a scam, Tether will implode, $8,000 BTC incoming! Sure, if it happens. In May 2022, bitcoin’s on-chain and technical metrics showed the same signs as every previous market bottom. In June, we saw even more signs in the movements of bitcoins and historical measures of investor sentiment. Over the summer, those signs persisted. This month, one of the biggest exchanges shut down. Some of the biggest trading desks collapsed. VCs and institutions lost billions of dollars. Bitcoin’s price went down 17%. That’s the worst monthly performance of the past year, excluding December 2021, January 2022, April 2022, and June 2022 (May 2022 went down only 16%). That’s right, only seven of the last twelve months were better than this one. What else happened this month? Too much to post here and not necessary to make my point. Catch my for more info. November 14, 2022 update Do you remember this image in ? the weekly rundown from October 9, 2022 We’re somewhere in the squiggly lines in the circle. I’m not sure which side, anger or depression, but it’s one or the other. Just wait Mark, are you saying the bottom’s in, the worst is over, and the crypto market won’t collapse? No. All of the circumstantial, behavioral, price action, and technical evidence matches what we see at the generational bottoms of the crypto market. That’s all. We’ll have to wait months, possibly years before we know whether the bottom’s in (and even then some people will still call for lower prices). These patterns take a long time to appear and can last longer than you might think. I’m more worried about other markets. They have more room to fall—and governments are seemingly hell-bent on crushing them. What about ? Up to $1 trillion in CLOs and $7 trillion in junk bonds for companies that make no money? A US bond market that’s had its worst year in a generation (a century, by some estimates), and is too high for the Fed’s liking? billions in capital calls that threaten to wreak havoc on global stocks and bonds still Sovereign debt that doesn’t have any buyers except the taxpayers of the very countries that own the debt? Global stock markets that remain overpriced against all historical metrics? Dangerously inflated housing markets in Canada and Australia? Dangerously overleveraged households in Denmark and South Korea? Hidden liquidity problems among legacy and mainstream financial companies? We can agree that bitcoin’s price can realistically drop to $14,000. Most altcoins will go to $0. At the same time, you have to appreciate the circumstances and accept the reality of the situation: Legacy assets offer less upside and more risk than ever. Bitcoin offers more upside and less risk than it has in a long time. You just might walk away from crypto to avoid one risk and walk right into another one. Don’t jump to conclusions Mark, you’re saying everything else will crash and crypto will boom? No. Mark, you’re saying everything else will crash and crypto will crash, too? No. Mark, you’re saying crypto’s going up from here? No. Stop putting words in my mouth. Legacy markets are still waiting for the next shoe to fall. Winter is coming. China’s struggling. Europe’s also having a tough go of it. In too many places, too many people have too little food, too many problems, and not enough money. We have many reasons for people to stay away from crypto and many reasons for people to sell their crypto. Before you start dancing on bitcoin’s grave, take a deeper look at the world around you and the assets you consider “safe” with “intrinsic value.” Make sure your government hasn’t lulled you into a sense of complacency, that precarious feeling that comes just before the collapse. The world’s financial leaders have pumped the markets for years. Now they’re dumping on it. What will happen next? And bitcoin… Maybe it’s worth having an asset that: Doesn’t derive its value from any government. Can sustain itself without political violence, military coercion, government manipulation, or sovereign debt. Works in all conditions even when counterparties fail. Can be sent to anybody, anywhere, anytime, in any amount, without restriction, without revealing your sensitive personal information, without putting your property in another person’s control, with certainty that your transaction will go through and confirmation that every payment you receive is authentic and valid. That’s a role that bitcoin could play. Or not. Maybe we just need to cool off for the next rally. I guess we’ll just have to see. This post is also available as an NFT on . Mirror Mark Helfman publishes the newsletter. He is also the author of three books and a top bitcoin writer on and . Learn more about him in his . Crypto is Easy Medium Hacker Noon bio

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