Happy to share my talk „Pitching Bitcoin to Boomers“ that I was honored to give at Baltic Honeybadger conference organized by nostr:npub1yul83qxn35u607er3m7039t6rddj06qezfagfqlfw4qk5z5slrfqu8ncdu nostr:npub19yfzme2usrukjgwxs3eekfnj5xhnarygpqjr2m48agsvvgz32ggqhymc68 nostr:npub1797h37mc98f6363m5nysxd0t2swuz7nxq4z83saw77em3czld6xqvuar68 and all the team!

I was representing our bank Maerki Baumann as a Bitcoin investment manager. Yes, this is my official title😉

Thanks again for this opportunity!

https://youtu.be/tgQHBN2PtMo?t=18432

#Bitcoin #portfolio #assetmanagement

nostr:npub1m6y9qq06c74trgs60ya320pgmhz6099grra5lw04akyuxvcz7lvq9ue2p9

At some point, I‘d be happy to talk about these dynamics and other things on Unchained‘s podcast?

What the US Treasury department is doing is „active duration management“

By not issuing long-dated treauries as much, institutions like pension funds, etc. are starved from getting these long-dates securities. As they are mandated (and incentivized by their business model) to buy long-dates treasuries still, demand „outpaces“ supply, which drives up prices and yields down (there an inverse relation between price of bonds and their yield).

How to measure/estimate this?

One way to do this is to compare the 10 year treasury yield to the yield for bonds on the agency mortgage market. The latter is low-risk and got the backing of the US government ss well, so these bonds are almost like treasuries.

In bond speak however, they have longer duration and greater convexity, which is why, when you compare these you have to factor in these differences. You can do that by help of a calculation where you make these to comparable by filtering out convexity and duration and when you do this, you still get about a 100 basis point difference which indicates that this is by how much US treasuries are overvalued or their yield is suppressed.

Yes!

Yes, that‘s a good point

If almost feels ironic that you nostr:npub16c0nh3dnadzqpm76uctf5hqhe2lny344zsmpm6feee9p5rdxaa9q586nvr look like Leonidas from the movie 300!😎

nostr:note1a8rflamsnzhkt0k3ru3uhqzsayfjuur89wrwqeda9thquqpty0hql9kmf7

How can I run my own relay?

Treasury bill, or short-term US debt paper, has historically ranged between 15% and 20%. In recent months, this percentage of T-bill of total US debt has broken above 20% and it might well be on it‘s way to 25% (or even higher).

As institutions like pension funds are starved from getting long-dates securities, other have been buying the short end. Who? Banks, credit providers as well as the infamous US stablecoiner provider Tether.

Why is this significant?

This is covet yield curve control or yield supression because it supresses the long-end of the curve.

As a matter of fact, the yield of long-dated treasuries should actually be higher, about 100 basis points by conservative estimates.

The question we need to ask is how will the US get investors back into long-dated treasuries?

-Bring down short-term policy rates (significantly) to make long-end debt more attractive.

-Push for a recession to create save haven demand for long-term treasuries (beat steepener). Rather improbable, no?

-Go new ways. For example, as nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z has explained, what if the US Treasuries were to back long-dated bonds with a Bitcoin component. Could this be enticing enough for regular investors to buy into long-end Treasuries?

Good thing is, and that‘s whta my original post was about, that Brazilians are hands-on and pretty strong non-authority-believers which leads me to suspect that less people will comply when compared to other jurisdictions…

Well, what will happen then? Some people will follow orders, others (fewer) will not obey. Or what is your thought?

When I lived in Brazil for almost a year, brazilians struck me as a very hands-on populace.

Now that X is banned in their country, I feel like many tech-savvy Brazilians will make it to #nostr

Bon dia cara🥳

How to create something like this?

Is will be published online soon

About to go live with nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z and nostr:npub1797h37mc98f6363m5nysxd0t2swuz7nxq4z83saw77em3czld6xqvuar68 to talk about Bitcoin, pristine collateral, peer-to-perr lending, pitching Bitcoin to boomers and more.

Super Stoked!😎🏋️

How to call out scammer/fake account on #Nostr?

Thanks. How can I securely transfer nsecs between clients? Alby? Any guide?

Add-on: maybe i have to be more precise: wallets that are not that of nostr:npub12vkcxr0luzwp8e673v29eqjhrr7p9vqq8asav85swaepclllj09sylpugg or any nostr-first client? Like „normal“ lightning wallets (maybe even non-custodial ones?

I hear that #Nostr, in combination with #Bitcoin Lightning enables a sort of „international decentralized open-source Venmo“

So what wallet already is connected to Nostrs‘ public payment directory?

Would love to showcase to my students tomorrow.

Anyone? nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a

Where can I learn more about how this works in pratice?

What‘s your #nostr pilling moment?

Please tell me!

Eventually everyone will have such s moment (epiphany)