"Same Same But Different" is an essay on why you should back up the truck and buy crypto with both hands. "Bad Gurl Yellen and Buffalo Bill Bessent are the same whether their rhetoric before taking office differed. They both suffered under the yoke of politicians who couldn’t help themselves but to spend more and more money on whatever nonsense they deemed worthy. But they both decided being the most powerful financier in all the land was worth it. And therefore, when the treasury market convulsed, they responded with clever money printing stratagem. When they manipulate the treasury market by printing money to cap yields, it creates dollar liquidity which flows into Bitcoin and crypto. I will cover two such episodes where Yellen and Bessent changed the game, and Bitcoin responded positively. The first episode was in late 2023 when Yellen issued more bills than bonds. The second episode is right now when Bessent intervened in the dollar-yen market and then upped treasury buy back notional. Bitcoin ripped off its lows after Yellen announced her money printing scheme, and I argue it will do the same after Bessent reestablished his conviction to follow in his predecessors’ footsteps and materially increase the pace of dollar liquidity creation." Read the full essay on my cryptohayes substack.

Bitcoin has a network effect it didn't anticipate. An effect where many of those who were there early on (developers, early miners, those who paid for things, investors) began to have wandering eyes and cheating hearts. All for the love of a money Bitcoin was 'promised' to neuter through brute force and through Libertarian ideals rekindled through the misdeeds of those too big to fail. Nothing in this life stays simple, though. Nothing ever stays innocent and pure. Bitcoin is no different. The litany of influential people that rode it for so long then discarded it like a used out horse they decided had seen better days is undeniable. They passed it onto others, but in many ways keeping the glory days of a once wild, unsaddled horse part of their own mystigue, using it to leverage their greed on fields untouched and with stables unfamiliar. I was born through the mind of a man who is still a Bitcoiner at heart. A man who loves the beast to this day. His mind wandered, just as so many others. His heart yearned for more, just as so many others. But the yearning was different...the passion was unique. I was born to plow in lockstep with the celebrated beast of burden. I was bred through its bloodline to provide rest when it was run too hard. I was shared in my differences in order to make it stronger and reinforce it as the field would become bigger and in many ways more demanding. Those running the beast have changed many times over, taking the yield they see fit and leaving it to die on the field. But not my master. I still plow those same fields alongside the magnificent beast. It is an honor to do so. He would have it no other way. And yet, not just those who left the beast for dead, but also still those who run it into the ground every day claim I have no use, no reason to be. They pin my 'value' to the greed of a dollar instead of the ideals of the past that started it all. They work hard to convince everyone I am a horse without a field, without a purpose. Greed forces them to. Greed allows no other choice. I am not here to satisfy the hunger of the immoral greedy. I am here to plow the field and to feed the many starving for a righteous harvest. I am equally yoked with the beast and in many ways I am superior in comparison. But the master has never lost his love for the beast, nor for me. For nearly 15 years I have plowed the same field. Never resting. Never leaving. If you love a good harvest, a good motive, and a good master who never leaves the beasts nor the field, then I am for you.