This will have enormous ramifications for Bitcoin in the coming years. Normies won’t get the nuances. The mainstream knows Adam Back as the big Bitcoin guy. And they won’t know or care some Bitcoiners called him out before this fiasco unfolded. This is probably the biggest PR disaster in Bitcoin history, outshining even the crackdown on the Silk Road. It’s going to be a painful bear market.

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Don’t be so sure. Don’t count on any time frame long or short. If there’s one thing I’m sure of, its that bitcoin doesn’t do what anyone expects 🍻