This installment of The Pomp Letter is free for everyone. I send this email to our investors daily. If you would also like to receive it every morning, join the 175,000 other investors today. To investors, Elon Musk couldn’t contain himself over the weekend. He doubled and tripled down on his chaos-inducing perspective from last week. The story is getting rather complex, but simplistically here is where we were going into the weekend:
I agree that Elon's behavior is erratic and borderline irresponsible. However, the BTC community has not (1) acknowledge that the environmental impact of BTC is a problem and (2) layout alternatives to solving such a problem. Why do we need to use such an immense amount of energy to support a crypto asset, when it's possible to do it orders of magnitude cheaper? Ethereum acknowledges such a problem and is trying to fix it. Very influential and smart people are questioning BTC for that reason. Small investors like me are questioning BTC for that reason. "Elon is a jerk" is not an answer. I feel the BTC community is not taking the problem with a scientific/engineering mindset, but rather emotionally.
Great stuff, although there is still this issue of 1000 people holding 40% of bitcoin. Doesn’t that simple fact prove some of Elon’s concerns valid? It’s not Elon’s fault that traders are emotional and selling or buying based on one person’s tweets. He’s speaking his truth, valid concerns about co2 emissions and efficiency. We should be listening and working to improve crypto if we truly want it adopted as the new monetary system.
Accurate. Legit. Transparent. Powerful. Educational. Lightening. 🤩 I am sure the 1st Trillionaire will be a Bitcoiner, and I never ever missed a prediction. 😌Thank you, Pomp! ✊🏽
I agree that Elon's behavior is erratic and borderline irresponsible. However, the BTC community has not (1) acknowledge that the environmental impact of BTC is a problem and (2) layout alternatives to solving such a problem. Why do we need to use such an immense amount of energy to support a crypto asset, when it's possible to do it orders of magnitude cheaper? Ethereum acknowledges such a problem and is trying to fix it. Very influential and smart people are questioning BTC for that reason. Small investors like me are questioning BTC for that reason. "Elon is a jerk" is not an answer. I feel the BTC community is not taking the problem with a scientific/engineering mindset, but rather emotionally.
Great stuff, although there is still this issue of 1000 people holding 40% of bitcoin. Doesn’t that simple fact prove some of Elon’s concerns valid? It’s not Elon’s fault that traders are emotional and selling or buying based on one person’s tweets. He’s speaking his truth, valid concerns about co2 emissions and efficiency. We should be listening and working to improve crypto if we truly want it adopted as the new monetary system.
Hey man can you get a pop filter for your mic? Every time you say a word with a plosive there is a big pop sound.
In Conclusion....BITCOIN SUX
Accurate. Legit. Transparent. Powerful. Educational. Lightening. 🤩 I am sure the 1st Trillionaire will be a Bitcoiner, and I never ever missed a prediction. 😌Thank you, Pomp! ✊🏽
Peter McCormack *
Best one yet! The Force is strong with this one!
Elon wants to buy bitcoin on the drop