Previous cycles were fueled by retail, with an industry trying to legitimize itself.

This cycle is about max extraction and fraud - Legitimized by the presidential family cashing out billions in meme coins, insider trading and forks of existing protocols.

Hacks have also been hitting hard. North Korea has stolen 500m this year alone and 2b last year.

So… no thriving. On the opposite. Dying is a more appropriate word at this time. Some would call this an opportunity. I see more pain ahead.

No wonder Coinbase is laying off people with the excuse of AI. The reality is that volume is zero. At this stage only me and a bunch of other retail weirdos keep on buying bitcoin paycheck by paycheck…