Thank you Raoul, great work as always. Are you still 99% crypto until the meaningful rally, or hedging and scaling off? In the same boat and always pondering if / when the next rally comes before the longer bear cycle.

Thanks Raoul. Any suggestions on investment options ?

Raul and team at RV, no doubt the Exponential Age series with the addition of the big macro framework that you did with Robert Breedlove are seminal pillars to understand where we are, why we are here, where we are going directionally, what can be the consequences of not understanding and what tremendous opportunities lie ahead as exponential technologies accelerate and converge like never seen in human history... I am particularly fascinated by 2 things: 1. how the interplay between Gold and Bitcoin will be as reserve assets moving forward. We have all heard the ones that are all in on one of the 2 claiming the death of the other, there are those that find value in both and there is the reality of major players suppression of gold price, paper assets and what that will mean potentially for bitcoin too if major institutions work to manipulate and suppress price too... I am not an expert in the field, my background is science and medicine, work in biotech and have been fascinated by learning about macro investment over the past years... 2. How will the crypto space evolve. Bitcoin has a very clear and solid use case, it does not need to be anything else to be a huge success. However there are many investment and trading opportunities in this space as Raul has showed us early on (vs maximalism), yet how will people realize those gains? To buy more BTC, to obtain more FIAT and buy other assets, to fund the new hot crypto project that can return 1000X in short term and keep playing that game across community tokens, NFTs, metaverse plays, etc... Maybe these are 2 questions that do not have a simple answer, or they are simply unknown, but that make me want to go deeper down the rabbit hole to understand where this is all going and if it truly will have the potential to create a better world with more people adhering to sound money principles (Gold, Bitcoin, high time preferences...) or if human nature and financial incentives will turn all this into the same casino we live in today. I feel privileged to be part of this community Sebastian

I wonder with the growth rate in crypto will continue to grow at 80% especially when Raoul posted on twitter that volume hasn't really increased and new active wallets have peaked in early 2021. It seems that crypto has become a one sided traded where everyone is now long. If institutions are not coming in like people were expecting and there are no new incremental buyers, could a dip in prices be bigger that what people expect? I am long crypto but I still think that people have lofty price targets in 2022 since that did not happen in 2021. I do think crypto will underperform people's expectations in 2022. But then again a 3x move would still be considered an underperformance compared to people's expectations.

Thank you for the information

I am 76 years old (born in 1945), and, while I completely agree with Raoul's Exponential Thesis and insight regarding Metcalfe's law, I don't think that the Exponential Age is limited to the future. I have lived in the Exponential Age throughout my lifetime. Transformative, exponential changes with network effects, that I have experienced, and are now taken for granted, include: Fed Ex overnight mail, Faxing, airplane travel, intercity automobile travel, television, computers, personal computers, smart phones, Internet 1.0, Internet 2.0 (Facebook, google, and Amazon), and digital assets.

Great insight and great perspective. I have found over the years that having real perspective on the events and changes as they occur has incalculable value. thank you