Legal Tender, Legacy Participation, and Exchanges Led to The Bitcoin Liquidity Crisis

Ugly Old Goat
The Dark Side
Published in
3 min readJul 5, 2022

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Exchanges and DeFi Are a Diminishing Sideshow

The past week we witnessed a sad but much-needed venting by those whom I respect and consider Bitcoin Standard Bearers.

I disowned Bitcoin Maximalism long ago, not because I disagreed with the premise but because it is unwise to let someone else define who I am.

I was also a victim of a misinformed maximalist because I dared to describe how to sell a portion of a HODL on the derivatives market as a hedge.

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