Bear Market Diary 2022: Run The Banks Interview
By @piratebeachbum - Analyzing The Bitcoin Bear Market Series - Volume 13
Name
Run The ₿anks
Country
USSA
How do people know you? Cringe memes and really bad takes
How long have you been into Bitcoin? After returning from a European tour, I became active during the crazy days of Occupy Wall Street…this is where I first learned about it. The idea of Bitcoin was a perfect fit for me as the anarchist environment was raging. Close friends invited me to meet-ups, and after really digging deep, started accumulating seriously in 2013 during that bull market. After Gox and the crash, I didn’t know which end was up…a confusing and emotionally challenging time. After the Bitcoin Center in NYC opened, I found my conviction through like-minded Bitcoiners and it’s been an incredible journey ever since.
How many Bitcon market cycles have you been through?
The term “cycles” in Bitcoin is subjective to the individual, but for me, they are four year journeys through exciting bull runs and slow motion cheap accumulation zones, generally leading up to the next halving event. I have experienced 3 of those to date. Each one puts hair on your chest and your balls are dipped in liquid brass.
What are you optimistic about in this space despite the current state of the market?
The fact that everyone continues to grow and learn from eachother, having meaningful debates, more and more people actively exposing scams, and shitcoiners seeing the light. Waking up normies to the global tyranny taking shape and adding them to our ranks. So far, our numbers are growing faster than the statists can regulate.
What tips do you have to those who are new to this or who might be upside down?
Focus on your immediate circle. Take great care of yourself so you can take care of the ones you love…head down, work hard at what you love, and stack the shit outta them Sats. Stop denominating your money and wealth in terms of fiat…think in terms of decimal places and increasing your stack by any means necessary. This is definitely not the time to fuck around and find out…these are serious times.
Biggest regret during the last bull market?
No regrets…never.
What have you learned so far in this bear market?
Stupid people do stupid people shit and smart people learn from smarter people.
What is the biggest fail you have seen during the last bull cycle?
Many people who got rekt from pump & dump ICO’s were the same that fell for the JPEG thing. Also, the arrogant entitled VC’s who backed the DeFi scams destroyed their capital and reputations…forever forged in the history books to be laughed at and ridiculed for all eternity.
What do you think helped trigger the current bear market?
Liquidity shock. Bitcoin being the most liquid form of value and traded 24/7, many over-levered game players sold their stacks to cover. Su Zhu and Mashinsky also didn’t help, many learned a valuable lesson in key control.
Who was most exposed during this last market meltdown?
Both inexperienced new people and sadly, some “quote unquote” OG’s who should’ve known better. That leaked list of Celsius victims says it all. Greed will get you broke real quick.
What are your thoughts on Bitcoin Maximalism?
To me, a Bitcoin Maximalist is a hardened sovereign individual who have learned the hard lessons either through oneself or other’s mistakes or both. One whose eyes are fully opened to this dirty world and seek to rebuild it better with hard money and solid principles. Has no time for bullshit, as it is just wasting valuable time and energy. A maximalist is aware of scams meant to deter and hurt their fellow man, thus using their voice to help save others pain. The voice is strong, serious, and doesn’t care about hurting your feelings…as your feelings prevent you from seeing how dirty the world really is.
Why do you think there is an emerging narrative to demonize Bitcoin Maximalists?
It’s a misunderstanding, mainly from becoming too soft in a hard world. Being soft has it’s place…but not when it comes to changing the money. This is a war.
What kind of damage do you think the latest price drop has done to buyer sentiment?
Throughout time, people have been scared of bloody streets and greedy during exuberance…those people will buy again during the next top. The trick, is to find a comfortable budget to DCA every week, no matter the amount…just be consistent. Time goes by fast, and if you stack consistently, you may just become shocked at how much Bitcoin you have collected.
What is it going to take to turn this around?
Education. Governments have done the people a great disservice by neglecting them a proper education that includes economics, mainly Austrian economics. Learning about keynesian economics is also valuable for how not to run an economy.
What type of carnage do you expect to see in Bitcoin startups?
Carnage for those with bad intentions…your company will be tested and scrutinized. Bad actors will be exposed and judged harshly.Success for those that put society ahead of themselves. Building a successful business requires failure, persistence and conviction is rewarded. A true and solid business with good intentions could earn you real wealth.
What are your tips for HODLing Bitcoin through downturns?
Bitcoin is the most valuable thing you own, therefore, there is nothing on god’s green earth worth trading it for. If you sold some Bitcoin at the bottom, remember the regret you feel for making that mistake…as you will have had to work harder to replace those Sats in the future. All other money becomes worthless over time.
How do you feel about alt-coins and NFT’s and stable coins?
Waste of my time and energy…total distraction. I’m hyper focused on one thing…earning Bitcoin and saving in Bitcoin.
What kind of impact do you think the radical drop in alt-coins and NFT’s will have on their future?
The once shiny new things lose their luster…they all fade into distant and ill forgotten memories. The lucky few will find lessons in there.
What do you think about shitcoin implosions like Luna, Celsius and the Solana hack?
I believe they were an important lesson and a well deserved Darwinian moment.
What is your thoughts on the Ethereum PoS update and Ethereum’s future?
For those people looking for a societal control mechanism, the update to PoS is perfekt. Gatekeepers and globalists alike will take full advantage of that protocol, enticing everyone they can with easy wealth, rainbows and jazzercise.
What is the best way to accumulate Bitcoin during a down market?
Stack what you can afford every week consistently, earn Bitcoin by being creative in your talents, attend and become active in your local Bitcoin meet-ups. Being surrounded with people of the same conviction, not only makes you more bullish, but opens doors to greater possibilities.
How bullish are you on Bitcoin despite this recent pullback?
I have never been more bullish. The explosion of talented people tripping into the rabbit hole never ceases to amaze me. I feel so fortunate to wake up every morning to read something new, to watch young people mature into kings, and meme the fuck outta the clown show.
Any tips you want to give to people new to Bitcoin?
This is your life, you are in control…you will fail and you will win. Bitcoin is serious money for those serious about life. It will humble you in ways beyond comprehension. Bitcoin Twitter is your portal for education, shitposting, frenships, and entertainment…but your keys, in your custody will unlock your life.
Any last words of wisdom?
Stack harder and GFY!
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