Crypto has gone over the horizon

13 rules for pulling through while cracking beers and stacking sats.

Two things are true right now. First, the crypto industry has won. It has enough of a foothold in the world that it’s not going anywhere, and it will eventually reach everything. Second, the vibes are awful, because nothing is proceeding as expected.

The oldheads of this space got used to a rough script of good times and bad times, and this particular good time is not good in the way it “should” be if the old patterns held. And a fresh bad time might have already begun.

Crypto denizens begged for permission to get into brokerage accounts in the form of exchange-traded products. They got it. Now BlackRock is at the party. For Bitcoin, there is no going back and there is no fading away.

But it’s clear now that the market is not following the old script. Everything is changing. Correlation across tokens has fallen apart. Coins don’t moon like they did. Zcash.

In my first draft of this post I wrote that it’s all over but the shouting. I think that’s true. The trouble is I think there’s also…