Pomp is a Substack newsletter on macroeconomics, Federal Reserve policy, Bitcoin, and crypto markets.
HN links it for pro-Bitcoin and economy pieces, such as Bitcoin mining and the environment. Commenters question its claims about economic pain.
https://pomp.substack.com/p/what-happened-to-bitcoin-when-elon
> Let us first cover the elephant in the room: the Elon dump. Firstly, there were 19,259 BTC moved onto exchanges before Elon’s tweet and ensuing price dump. I do not think this is coincidence and was likely someone with insider information.
Regulations may not apply but it would be interesting if Musk told one of his rich friends before posting the tweet. That could look bad for him if something like that was discovered.
> Wanting to see the economy fail to punish rich people and corporations.
does anyone really believe that a failing economy will hurt rich people and corporations more relative to... literally anyone else? i would expect the exact opposite, e.g. https://pomp.substack.com/p/the-k-shaped-recovery-is-now-undeniable
2 links:
- In today’s news: https://www.zerohedge.com/crypto/critics-claim-bitcoin-threat-environment-theyre-wrong
- From earlier: https://pomp.substack.com/p/bitcoin-mining-is-good-for-the-environment