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The Ship of Fools: Whalepool Chat

A random sample of the live chatter on Whalepool (YouTube category: “Education”) this morning as my feet get re-submerged into the bitcoin demi-monde. The efficient market hypothesis might not account for many young, likely sleep-deprived traders being between games of Fortnite. The mind craves speculations and socialization.

How much did I think this way in my twenties? Is the craving for socialization and explanation accelerated by social media?

There are of course mad geniuses around who are apostles of possible disruption. To pull from a quote from Ryan Selkis’ newsletter this morning: “Zooko, Naval, Vitalik, and other only-first-name-required-thanks builders and thinkers.” Finding them is really hard among the noise.

A not exact transcript, from three dudes. Maybe they’re whales. More likely they have a chip and a chair as is said in poker. A sample in case this channel and it’s kind ever fade into oblivion:

“If it goes up from here right now, immediately, like no retrace and just starts going up, that’s going to be like increasing confidence.”

“I mean lately that’s what it does. Big ? Then goes down then takes an hour or two to make a new high.”

“Yeah you’ve got ? Chinese…??”

“Now the question is did you stick some larger shorts on bitmex…had a lot of success doing that. I don’t know…I mean if you kinda start to get it back up to 7560 or so, it will look like a little blip. Start grinding higher again…You know what is it about this price level that makes it so difficult to get through you know”

“Conner {sp?} posted a chart earlier…”

“well I mean like why why why are we consistently stopping here? Kind of pre-programmed type scenario?”

“Good question hunh?”

“…well whoever can push this around at least short term…you think someone is consistently unloading their bitcoin around 7500…it’s pre-kinda gamed.”

“Yes, the ‘Joes’ of this world.”

“You think he’s unloading consistently at this price level?”

“No but someone like him.”

“I think it’s money chasing money”

“I don’t think there’s only one Joe.”

…. “I can’t say I’m a very sophisticated fractal guy, but what I see like the same pattern over and over, I’m going to you know, call it out, and maybe play it as much as I can.”

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