Scenic Curves and Sports Cars
This week, I’m heading to Tennessee to drive the Tail of the Dragon—318 curves packed into 11 miles of twisty, scenic mountain road. It's a rite of passage for anyone who loves driving, and while I don’t have the flashiest car on the road, my Boxster eats up those turns like a champ.
“Some of the cars down there are fancy. Some are not. Mine is not. But it definitely handles the curves well.”
I’m going mid-week to avoid the weekend traffic. It’s been sunny, rain’s coming in Thursday or Friday, and Wednesday should be perfect. I plan to drive it once, stop and hang out at a rest area, then do it all over again.
City by City: Quick Reviews
Before Tennessee, I spent some time in Cincinnati and caught a few minor league baseball games. Here’s how I’d rate the cities I’ve visited recently:
Cincinnati: 6.5/10 — Hills, bridges, and tacos. A fun city but noticeably high levels of homelessness and street activity.
Pittsburgh: 8/10 — Underrated, walkable, and lively.
Cleveland: 5/10 — My baseline. High on corruption and poverty, but the suburbs redeem it.
“Cleveland disappoints me every time I look in Cleveland… But its suburbs? Hands down better than Cincinnati’s.”
I also noticed something striking about policing. In Chicago, for example, I saw police presence every two blocks downtown. In Cincinnati? Not so much.
Listener Q: Crypto-Backed Loans
A listener asked:
“Matt, what’s your view on crypto-backed loans to buy more Bitcoin?”
Here’s the deal:
Custody Risk – Most crypto-backed loans mean giving up your private keys. If the lender goes under (like BlockFi or Celsius), you're out of luck.
Overcollateralization – You often give up $100K in BTC for $50K in cash. Why give someone your Bitcoin and risk liquidation if prices dip?
Valuation Disconnect – People don’t treat digital assets like physical ones. You wouldn’t give someone your $5,000 wedding ring for $2,500 in cash, so why do it with Bitcoin?
“For some reason, crypto—we don’t value it the same way as a tangible item.”
There’s growing interest in non-custodial loan protocols and earning yield on Bitcoin, but right now, I'm skeptical of any loan where you surrender custody.
Rant Time: Labor, Markets, and the Illusion of Freedom
A listener also praised my take on the labor market, so here’s the short version:
Free Market Isn’t Free: You can move goods, supply chains, even corporations—but not labor.
Labor Restrictions: You can’t move to Japan to weld steel just because they need workers. You can’t easily take jobs across borders.
Money Movement is Controlled: Remittance payments get taxed. Transfers are slow or blocked. Crypto fixes this.
“The market isn’t free. It’s a controlled marketplace with illusions of choice.”
I’ve lived this. Back in 2008, I couldn’t access money my family wired to me in China because it was sent to the wrong bank branch. That experience—and later discovering Bitcoin in 2013—made me realize just how broken the global financial system is.
Bitcoin: Still Climbing
Price check:
Current BTC: Low $100Ks after a dip
Post-Conference Pullback: Called it. Didn’t dip to mid-90s as I expected, but the retrace happened.
Next Stop?: Predictions range from $125K by late June to some delusional $170K moonshots.
“Do I think we’re going to get over a trillion dollars pumped into the market by end of June? No.”
That said, I’ll take steady gains any day. The volatility of shooting to $170K only to crash back to $115K is a mental grind no one wants.
Why I’m Still Here
I stay in crypto because it offers a glimpse of a truly free market:
You can hire someone from halfway around the world.
Pay them directly in USDC.
Skip the banks, the fees, the delays.
“That is literally freedom of the market. You have labor to sell. I send you money. You do the job. No barriers.”
This is why I stay bullish—not just on the price, but on the promise.
Stay tuned for my Tail of the Dragon video and some roadside livestreams.
Happy HODLing, Everyone.
Share this post