Copium

Cryptobros have been huffing copious amounts of copium after yesterday's devastating Bitcoin crash.

If the image of Democratic defeat is of that protester screaming no, the image of MAGA humiliation is of Pepe the Frog or Trump himself hooked up to an oxygen machine that's instead providing him with copium, watching the rare and humiliating end of a one-term president.

Some of this is simply dead ender-claptrap: straw-grasping and copium for Trumpists who are struggling to assimilate the new reality. But some of it is racist conspiracy theory, and Sky's new business model means that Australia is effectively exporting it.

Some days I think that maybe we're not all gonna make it. It's been a bad week for cryptocurrency, and as of this recording, it's only Tuesday. Bitcoin is down. Ethereum's down. Stablecoin seems not so stable. The NFT market is tanking. There's copium all around, panicked posters, and soothing souls advising everyone to buy the dip.