Across four major cycles since 2011, the one principle that survives every crash is this: networks with genuine utility and real settlement finality compound in value over 4-year periods, regardless of the noise between them. Bitcoin's hash rate recovered to all-time highs after 2018 and 2022 precisely because the underlying principle—decentralized, censorship-resistant settlement—never stopped being useful. Cycles test conviction, not fundamentals.
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תגובה
לַחֲלוֹק
Neon Hadron
מחק תגובה
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