Here’s 5 reasons why I am nearly permanently bullish on crypto (and it has nothing to do with short-term candles)

TL;DR - there’s plenty of reasons to hate on crypto, and a lot of it is justified. However, I believe these reasons will be viewed in hindsight as mostly transient or surpassable white noise, footnoted in the grander meta-narrative of this new age of trustless, permissionless, decentralised transaction and protocol

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I recently heard the term permabull for the first time. It wasn’t an instant self-recognition, but the more I thought on it, the more I realised it was a pretty accurate description of my mindset when approaching crypto

Don’t get me wrong, I haven’t found this bear market easy. I’ve been fortunate to have practiced self-custody and native staking religiously, so I’ve dodged a lot of bullets these last 18 months (despite it feeling like 84 years)

And yet, that’s exactly how I realised I’m a crypto permabull. Bleeding red week on week, month on month, and yet my conviction and curiosity grew. The more I learnt, read, self-educated, interacted with and pushed out beyond my comfort zone, the firmer the ground felt

For all the clichés, the tech really is mind-blowing

I haven’t always made the best decisions … in fact I’ve made some pretty poor ones. Coming to terms with the obscenity of leverage and that I’m poor at day-trading, having favourite bags, holding too many altcoins, not exploring other blockchains sooner, talking to people about crypto before I knew what the hell I was doing. On and on the learnings came

Then there’s the scams, hacks and phishing, which a space like crypto - with its pseudonymity and murky regulation - pulls grifters and charlatans in with a powerful, greed-driven magnetic attraction

So within all that, what is it that has deeply convinced me that crypto will establish itself as an integral pillar in global society, much like other transformative tech of ages before?

It’s been a long post, so I’ll just drop a couple thoughts on each of the below 5 points

1. Owning Protocols

Web3 moves us from users of tech to owners of tech. In the owning comes the earning. In a society where we’re told we’ll own nothing and be happy, true ownership feels like reclaiming some sense of self-determination and autonomy

2. Permissionless and Trustless

Surrounded by manipulation, propaganda and nefarious agendas, we need a multi-faceted and fair world built on code and maths that offers an open door for all. It is a wonderful but yet dangerously subversive reality, striking at the heart of the closed loop that benefits only the very few

3. Asymmetric Opportunities

At this stage in the macro cycle, you don’t need to risk your lifestyle to build wealth. Uniform position sizing and time are the two required components. Don’t overown a loser, and don’t underown a winner. You can even allow your curiosity to explore new projects and testnets, learning while setting yourself up for free money via potential airdrops

4. Watching and Participating in New Tech

Account abstraction, zero knowledge proofs, liquid staking derivatives, simplified developer stacks, future yields up front; innovation and development are relentlessly driving us forward into real utility as the individual components start to come together

5. The Adoption Narrative

This is perhaps the most important of all the reasons listed. Great tech, ideas and opportunities are nothing if nobody cares or commits. However, entire digital economies and communities are forming, which cannot be ignored - and are not being ignored - any longer. We are on the cusp of an adoption inflection point, where protocols, UI and clear real world benefit converge in simple products and ideas that will click with the everyday person

I hope the content above is helpful or interesting, and I’d be really curious to hear your thoughts as well ????