Calm

Opens November 18th 2021 noting sentiment scoring shows unusually many people obsessed with price and saying the sky is falling.

Recalls his 2020 COVID-crash video calling people to fundamentals, saying crypto is a unique moment in human history whose perspective new fair-weather entrants have lost, since the era of calm 2-to-3-percent monetary policy masked nothing constraining government excess.

From 2000 to 2021 the money supply exploded via Keynesian economics and modern monetary theory, with half of all US money printed in the last two years and the infrastructure bill and Build Back Better costing more than Washington through GHW Bush combined.

Gives a personal example of his Wyoming ranch propane tanks bought at 25,000 dollars each that the seller offered to buy back for 35,000 five months later, with real inflation over 20 percent and broken supply chains sending West Texas Intermediate oil to negative 37 dollars while California pays over 6 dollars a gallon, all pushed toward the Great Reset's own-nothing-be-happy.

Crypto is about opting out, with nation-states like El Salvador and individuals doing so, an unprecedented global shift creating hard-to-price markets.

Dogecoin and Shiba Inu accumulated tens of billions with no use or utility beyond a social network, which adherents call the value while old-school people demand real fundamentals and commerce.

Millions in the US and hundreds of millions worldwide entered crypto, so you cannot put Pandora back in the box, with a Darwinian pace of thousands of projects yearly and a distortion where people unrealistically expect 100x every year on a greater-fool theory while the system they exit into is fundamentally sick.

Warns that continuing the disastrous US monetary policy as the world reserve currency risks default or hyperinflation dragging the world into the greatest depression, evidenced by land, gold, and ammunition buying and capital exodus.

The real questions are the definition of money and whether nation-states can be entrusted to produce it in a globalized world of politics and social media.

Cardano was built with a decades-long outlook for fair, open solutions across scalability via pipelining and input endorsers and governance via Catalyst, the largest decentralized organization with over a billion dollars to distribute, and could become the back-end of nation-states running elections, property registers, identity systems, and the biggest preserver of human rights.

A network with billions of users is too big to fail for humanity and sticky like the internet, which four decades of attempts failed to replace, so people should return to first principles.

The avaricious pursuit of an arbitrary unit of value is not the point and fair-weather people with 49er mentalities will not do well, while backbone projects like Bitcoin, Cardano, and Ethereum pursue guiding humanity to better ends.

Cardano pursues the developing world with a B2B2C and B2G2C strategy plus a decentralized innovation brain, metadata, and identity, having laid the research bedrock to solve billion-person-scale problems most competitors cannot.

Competitors claim they can scale until they need another software version, temporary centralization, or a network restart then die a slow heat death, while Cardano wrote the proofs and did peer review, with input endorsers giving 20 to 40x from a 2016 paper.

Cardano's root of trust bootstraps high-performance permissioned BFT systems for free, unlike newfangled fast-finality protocols that always face the where-does-the-quorum-come-from question.

He does not care about short-term ebbs because the macro is controlled by factors no one in crypto influences, like watching the infrastructure bill pass with a poison pill because an 84-year-old retiring senator wanted more military money.

Lists macro events beyond anyone's control: China banning Bitcoin, unlimited monetary policy distorting equities, negative interest rates, and fair-weather CEOs like Elon Musk with Dogecoin and the FANGs distorting things.

In the short term you keep your nose to the grindstone and focus on long-term fundamentals: growth, solid foundations, the innovation process, increasing decentralization, a multi-paradigm certified-software model, and EVM compatibility.

The plateaus from focusing on long-term fundamentals let you fight new adversaries like quantum computers, explore the metaverse and spatial web, get RealFi DeFi to billions, and compete with the permissioned Apple, Google, and Microsoft interfaces and their three-billion-person network effect.

The technology is ultimately about people, asking how people should live exiting the 21st century in 2100 with more freedom and control, and that fiat monetary policy is mathematically impossible to survive the century since humans cannot restrict themselves with absolute power, so blockchain acts as a social law of physics constraining humanity from itself.

Calls everyone to calm, since value goes up and down and fair-weather people create noise that never distracts the mission of fighting the dying 20th-century legacy systems leading to ruin and war.

He does not want a Black Mirror dystopia, and that every listener has a choice to opt out or cynically stay in the legacy system and deserve the chains, voting with their feet, wallet, and mind.

An open-source project means grabbing a shovel to help build a collective monument, since his resources will fade and hyperinflation alone will make everyone billionaires like Zimbabwe and Venezuela, and no elite class will bail you out.

Decades of negligence and a cowardly political class endowed by an apathetic voting class caused this, solvable only by rising up to build, evangelize, and decentralize without being seduced by centralized power, while staying calm and reflective.

Thanks the Cardano community as the strongest in crypto because they get that it is a decades-long road but the most important thing they can do, since success means a world that no longer tolerates corruption, hypocrisy, or a lack of rule of law, where everyone is treated equally by math and protocols with merit and character separating people but access not.

Thanks the committed community who tattoo the logo, name kids after Ada Lovelace, volunteer, and plant trees whose shade they will never see, noting Cardano has no monopoly on the moral high road since many good people in other projects share these values.