There is a lot of talk about volcano bonds again recently.
Who doesn't want to pay $100 and receive a fixed amount of BTC every year for X years + receive todays BTC back after X years at tomorrow's value?
The issue is the other side of that trade...
If a country borrowed 1 BTC today to cover $30k with of costs, but was required to pay .05 BTC every year for 10 years, then required to pay back the 1 BTC.
If BTC goes higher in dollar terms, it would bankrupt a country...
Aren't they covering $15k of costs and buying $15k of BTC?
Aren't they returning the face value in dollar terms at the end of yr 10?
Isn't there a recovery piece baked in before they start kicking down interest?
Does the recovery include only their BTC purchase maturity or does it include tax revenue (use tax only) from those infrastructure projects?
Or am I misinterpreting the terms?
Another big stand out is citizenship (passport), but only if they get rid of extradition. The way things are going here jurisdictional optionality seems important in the short term (5-10yrs), as well as an alternative on ramp to get normie retirement accounts into BTC. Not ideal, but better than the man's approved custodians or nothing at all, right?
Bitifnex and BankToTheFuture has stopped onboarding US Citizens, including accredited investors. Now what?
I have a meeting with a sizeable offshore fund to discuss ideas around this at month end. I don't want to bug you until there is something real, but can we all flesh this out a bit more in the meantime?
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Bueller buuueller? ;) Set me straight man or fire back a link to the fine print so we can get to the bottom of this or focus on other battle fronts. Maybe #[9]​has some insights?
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Some good queries. Haven’t read terms should do vid on this at some point when get around to it.
Please do! I feel like I'm missing something here. Where can one acquire the fine print?
Still havent found the fine fine print. Citi requires institutional KYC with 4 week turn around for access. BitiFinex and BtoFuture stonewalling. Cant figure out if Nostr people want to have serious discussions about such things or are just meme-ers who want to perpetuate their own internet circle jerk celebrity-ship. The discourse is disappointing on most fronts so far. If you end up digging in #[9] , I'll just email ya.
Come on daddy Steve. Don’t just drop bombs and leave me hangin. This is supposed to a place for iron to sharpen iron. Iron sharpening aluminum in my case.
