The year was 1982. The state of Illinois handed Bag a Driver’s license - and his 10-speed bike became a thing of the past. The entire Chicago-land area was now Bag’s playground. So where does a newly minted driver with a penchant for gambling choose as one of his first destinations? Riverboat casinos with all-night poker games seemed an obvious choice, except back then, the riverboats were new, and thus under considerable regulatory scrutiny. While Bag was old enough to have a driver’s license, he was not old enough to get on those boats. So, to scratch the gambling itch, Bag was forced to go where they didn’t care much about underage gamblers. For Bag, that place was the Balmoral horse-racing track in Crete, Illinois.
Nov 25, 2022·edited Nov 25, 2022Liked by Bagholder
Always looking forward to your next article bag holder. In Germany we had a very famous book called - education - everything you need to know . An unrealistic claim but still a great piece of work. The author stated that in order to learn about an ideology it’s best to join one yourself - so you will learn the methods and arguments of both sides. I decided to follow this practice with crypto (won’t name my choice). What surprised me was that, although my choice was very technically advanced and innovative if was totally ignored by the whole crypto industry. Instead obvious scams and pump and dump schemes were given all the attention. I now understand what this market really is like and what FTX was basically selling its investors (I am not talking about the retail investors) … it’s basically a complete controlled environment which has no interest in real market developments. That’s why FTX had its fingers in every project! This is not a market but some kind of fake charade. Everything is contaminated and I hope everything crashes so real decentralized innovators can get the attention they deserve.
So they basically focused totally on the side/structure of the trade as you like to call it - that was what they were really selling. A bulletproof system where they would control everything vertically and horizontally. Basically it’s own microcosm.
So assume you control not just the biggest exchange but also every relevant Projekt in crypto. You have the power to shape reality. Everything that isn’t part of your ecosystem u can ignore and chances are high the market follows you. You are basically shaping reality or at least the perception of reality. And binance and others have no intent of changing the outlook. I strongly believe they won’t be able to assert this influence much longer but this market is clearly driven by retard retail investors so everything is possible. There is really exciting stuff in crypto happening but attention and perception is shaped by people with very suspicious motives . Bitcoin Maxis serve as the useful idiots and court jesters. Really really weird
Always looking forward to your next article bag holder. In Germany we had a very famous book called - education - everything you need to know . An unrealistic claim but still a great piece of work. The author stated that in order to learn about an ideology it’s best to join one yourself - so you will learn the methods and arguments of both sides. I decided to follow this practice with crypto (won’t name my choice). What surprised me was that, although my choice was very technically advanced and innovative if was totally ignored by the whole crypto industry. Instead obvious scams and pump and dump schemes were given all the attention. I now understand what this market really is like and what FTX was basically selling its investors (I am not talking about the retail investors) … it’s basically a complete controlled environment which has no interest in real market developments. That’s why FTX had its fingers in every project! This is not a market but some kind of fake charade. Everything is contaminated and I hope everything crashes so real decentralized innovators can get the attention they deserve.
So they basically focused totally on the side/structure of the trade as you like to call it - that was what they were really selling. A bulletproof system where they would control everything vertically and horizontally. Basically it’s own microcosm.
So assume you control not just the biggest exchange but also every relevant Projekt in crypto. You have the power to shape reality. Everything that isn’t part of your ecosystem u can ignore and chances are high the market follows you. You are basically shaping reality or at least the perception of reality. And binance and others have no intent of changing the outlook. I strongly believe they won’t be able to assert this influence much longer but this market is clearly driven by retard retail investors so everything is possible. There is really exciting stuff in crypto happening but attention and perception is shaped by people with very suspicious motives . Bitcoin Maxis serve as the useful idiots and court jesters. Really really weird
Bag, solid piece, a fresh perspective and useful.