Cryptocurrency – Julie Fredrickson

Day 2000 and Don’t Stop Believing

Well I’ve done it. I have written and hit publish to the internet a blog post every single day for two thousand days in a row. So I am going to toast myself to a job well done.

In earlier milestone posts I was always surprised I’d made it but now the harder thing to decide is if and when I’ll stop not if I’ll keep going.

Half a decade goes by a lot faster than you think. The accomplishments actually do add up if you keep yourself pointed in the right direction.

In a personal capacity we got ourselves to Montana, set up a life that let us live the way we’d always dreamed and invested in the future we wanted to see.

From a civic perspective during that time we helped pass meaningful reform in housing, testified for crypto rules of the road and worked to ensure Montanans have a right to compute. A new era of networked algorithmic power has been building for many years and our rights to use compute as we see fit is bolstered by our 1st, 2nd and 4th amendments.

From an investing perspective we have been first in Solana’s most crucial infrastructure player Squads. Because yeah crypto is going to matter a lot in an artificial intelligence age. We have stuck to our core mission of adaptation by backing the tools needed to benefit from our new AI speed run.

And yes we care about open source. From vector databases to inference labs to experimental dueling models, we have snuck into some strange experiments. And oh yeah we were the first check in a small modular nuclear reactor that is winning the atomics renaissance race (at least this week having achieved criticality).

There have been a lot of failures in those years though oddly not investments or policy. I have battled health issues and fought to not just maintain working capacity but to gain back the capacity I thought I’d lost forever. I

did woo woo whack things from PEMF and HBOT to peptide stacks and traditional biologics. Thanks to the horrors of hormones and steroids I was early to GLP1s and made some good investments there too.

Maybe I’ll tag all of this more cleanly later but I do think it’s important to remember the days are long but the years are short. Get on the airplane. Go meet up in person. Buy that dream house. Build a solar array and a sauna. Do wildly romantic things and go to galas. Say yes to more.

And open your heart to the heroic efforts others are also putting into making our lives and our world better. We live among every day heroes. And yeah lots of bad shit has happened in this time too.

I am aware of the shitty compromise we all make to survive. But you have got to hold on to that feeling. So yeah on day 2000 I think I’ve earned the right to be corny as hell. Don’t stop believing.

My husband was joking with me that he’d been arguing, in the way that men do, about what the state is or is not obliged (or allowed) to do about the movement of the capital class and where they keep their resources.

Capital flight and asset diversification are not just individual decisions but increasingly society ones as well. And it’s not just the wealthy who are worried.

This discourse emerged in the middle of the intense upswings in gold & silver prices subsequent profit taking and draw downs.

• Gold ran to roughly 5,600 USD/oz before sliding 7–10% in a day, still leaving it massively higher on the month.
• Silver briefly traded above 120 USD/oz, then fell 15–20% and is now back under the 100–110 area, which technically puts it in a short‑term bear move after a parabolic rise

These actions were stirred up by debate on Federal Reserve independence (ameliorated somewhat by the new chair Kevin Warsh over Kevin Hassett), China’s buying patterns (both official & wealthy retail) in precious metals and what these two interconnected news items might mean geopolitically for regular people. See this on buying in Australia and on China’s flows for more context.

From remittances to capital controls, the debate is particularly spicy as the dollar has been made to trade deliberately lower for the export agenda, rising remittance dollars (and debate on what’s missing in tracking them) has upset many Americans, and the money printing of the Biden years has raised awareness of inflation and national debt.

Obviously it has been a combustible mix. And thus we see renewed interest in decentralized assets and hard commodities. And then, of course, there has been the trial balloon floating in California of a wealth tax. What should we do about our most moneyed citizens and what do they owe. We tax income not wealth and that change is likely to have huge repercussions.

It seems perfectly sensible that anyone who has dollar denominated assets might be concerned about where that currency is headed, who is benefiting from the changes, and what on earth the Chinese are up to both as a people but also as a nation with unclear monetary goals and tensions between its leader and its military.

Ultimately though this is an incident about the dollar, its long term value, who will oversee it (and which Kevin was meant to have the gig) and where wealth can and cannot go to deploy itself in an era where the rules based order and Bretton Woods are no longer a given.