Gerbz @ BitLift
@bitlift
Once you’ve seen this pattern, you can’t unsee it. 1/12 Every cycle, a new Bitcoin narrative emerges that drives price & adoption to new highs. Feeling like they missed it, FOMO fueled "investors" flock to alts...
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Gerbz @ BitLift
@bitlift
2/12 A few of these projects represent true innovations & fun new blockchain use cases, but the vast majority are copycats & fraudsters who feed on market FOMO. Let's look at this cycle by cycle...
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Gerbz @ BitLift
@bitlift
3/12 In Boom1, Bitcoin blossomed as a true crypto "currency" as brands rushed to accept a new form of digital money native to the internet. Bitcoin “forks” emerged to fill gaps in the market. LTC was the silver to Bitcoin’s gold. XMR was BTC for privacy. DOGE made crypto fun...
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Gerbz @ BitLift
@bitlift
4/12 In Boom2, BTC transitioned from a currency to a “store of value” as BCH forked off & Ethereum took center stage. ETH's potential captured developers imaginations as ambitious investors rushed to fund ICO’s that looked good on paper, but (most) never got off the ground...
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Gerbz @ BitLift
@bitlift
5/12 In Boom3, Michael Saylor put Bitcoin on his balance sheet & taught us that, “billionaires don’t sell, they borrow!”. Fueled by new primitives like stablecoins, DeFi matured while worthy competitors to Ethereum emerged. But it was truly NFT's that took the cryptosphere by storm..
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