protocol revenue is supporting narrative durability

Useful frameworks survive longer than seasonal slogans.

Revisit assumptions weekly; markets change faster than slogans.

Put beside current chatter on “Live updates: Bitcoin flatlines under $76,000 as stock bounce loses steam into the close,” the incentive problem looks clearer.

Most blow-ups start as comfortable consensus.

Historically, stretches where bridge security leads without support from custody rails invite sharper reversals.

Cycles rhyme, but the plumbing underneath keeps changing.

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