I’ve been watching the weather forecasts across large swaths of North America for the last 16 summers closer than I ever did before. My income literally depends on what the weather does.
Weather forecasting is one of the biggest shitcoins out there.
But please tell me more about your models that predict what the climate is going to do in 50 years. I’m sure they are bulletproof. They are peer reviewed after all.
Thankfully, some areas that desperately needed rain are starting to get it. Let’s hope that continues as it is forecasted to.
That face when you realize you need to quit trying to reinvent PostgreSQL and just benchmark PG to see if it fixes the performance problems you are dealing with. Because God knows it already has the availability and reliability characteristics you need and anything you come up with will be miles behind it on those dimensions.
50% of my annual income is at risk due to the 10 day weather forecast and that is less distressing than having 20% of my stack risk.
In the case of my income, it’s a known unknown that I’ve spent the entire 16 years of business’ life preparing for and living with. The risk is built into the business model and our margins account for this risk.
I’ve spent about 1 hour living with the consequences of this newly discovered unknown unknown.
It somehow got worse when I realized that the probability is probably dependent on the value of some fucking shitcoin called $AUDIO and that the criminal organization in question owns 1/3 of that shitcoin and they are about to get massively front run by the rest of the market when everyone realizes they are going to have to dump their 1/3 but they can’t do it until some future date when a court orders it.
FML
nostr:note1fk07v6pvl5rh3zfgxawv8ahv3kxncc78h6r5lx0w0jt95q9et03qfguw2m
That face when you realize that there is a nonzero chance that ≈20% of your stack that you accumulated in the last year could be subject to clawbacks because the custodian rugged everyone years ago.
This is very reminiscent of what it felt like during the GameStop debacle when I realized you couldn’t trust any 3rd party involved in the ownership of public company stocks. It’s bullshit all the way down.
Even if there is only a 1% chance that ≈20% of my cold storage stack is at risk, it’s a watershed event.
If such a thing happens, let’s hope the valuation of the assets is in nominal terms at the time of withdrawal. Then it would represent much less than ≈20%.
Thanks, it is what it is. It represents a pretty small portion of my stack, so it isn’t too big a deal for me.
But it is a new wrinkle. You don’t expect to have to worry about bitcoin that has been in cold storage for months, but the fiat system always has new and surprising ways to rug you.
Yeah, I have no clue how any of this will play out or how likely clawbacks are, but the way he is acting is not cool.
Prime’s creditors might have legal rights to any assets withdrawn from Prime accounts over the last 90 days. Impossible to know how it will play out, but I’m assuming everything I withdrew from Strike and Swan over the last 90 days could be gone.
I hope Strike was only using them for direct deposit and things I didn’t use during the last 90 days, but who knows. Swan sent their “we’re moving everything” email on May 26th.
The people who didn’t ever take custody and just waited for Swan to transfer their accounts to BitGo or Fortress around May 26th. I wonder how many 7 figure Swan Private Services accounts could be in that boat.
Another question: were any of Swan’s umpteen paid influencers paid in bitcoin via Prime Trust accounts? Or are they all fiat posers who got paid via a Swan corporate account that won’t be subject to clawbacks?
It’s going to be interesting to see how that plays out.
Hard to say if they’ll try to recover from individual users, but it seems like it is possible as part of a bankruptcy proceeding.
And yeah, I think it’s limited to 90 days, but that’s just based on what people are claiming on Twitter so who knows.
How many people deposited 6 figures into Prime via Swan over the last 90 days who now have to wonder if that money will be subject to a clawback?
Backed by $AUDIO, whatever that shitcoin is.
Can you imagine the dumping it is about to experience it when they liquidate this steaming pile of shit?
It was outsourced custodians all the way down.
River didn’t buy off half of Twitter so they never got nearly as much respect as they clearly deserved.
People are talking about the possibility of clawbacks from any company that withdrew from Prime in the last 90 days.
Keeping any assets, fiat or bitcoin, in Swan or Strike feels risky at this point.
If the nightly news didn’t tell them, it’s fake news.
The Prime Trust story is even more insane than I expected.
The music is great.
After watching what happens when young people perform for smartphones, I’m pretty sure they’d be better off saving that performance for whatever is the equivalent of their local pub or community center.
Mirror, mirror, on the wall…
The mirror finds a way even in the hinterlands.
My income could be anywhere from 60% to 120% what it was last year based entirely on the weather over the next few weeks.
I thank God for either outcome.
He showed us how to survive the bad harvests so we can live long enough to reap the good ones.
The cognitive dissonance of leftist academics talking about why other leftist academics hate bitcoin on What Bitcoin Did (soon to be renamed because it’s too embarrassing to tell leftists you like bitcoin).
So you’re telling me the people who have built an entire career that lets them abuse their unearned power aren’t eager to embrace a system that completely neuters their unearned power and would force them to earn an honest living? I’m shocked.
If your only path to achieving your your goals is getting rich via fiat gains on bitcoin, you will very likely screw it up.
Be in the top 10% of income earners and realize that most of the material stuff you thought would make you happy, won’t.
The secret is to have enough cash flow to buy anything you could ever want and then save the excess in bitcoin.
You will never be tempted to “sell the top” so you can treat yourself because you’ll have all the treats you want.
Agreed.
All authoritarians will reject the freedom bitcoin offers, but commies often won’t even get that far in their evaluation. The fact that it is the best version of private property ever discovered will probably trip them up first.
I don’t care even a little bit about adoption and I want the commies and their enablers bankrupted.
These schemes will never work because commies are fundamentally opposed to private property. The entire religion is based on the idea that all their problems would be solved if there was no private property.
It’s much easier to steal the wealth of others than to take responsibility for your own failures to become useful enough to society to earn your own wealth. 
The number of layers of leaky abstractions that have to be understood and managed is too damn high. 
If Wagner rolls in to Kyiv in a few weeks it’s going to wild to watch the neocons try to make sense of that.
I had never heard of her until this recent thread. But she is an archetype that some bitcoiners claim it is important to appeal to.
Bitcoin is incompatible with their way of thinking and they will either have to change or they will reject bitcoin.
Communism is the second oldest mistake in the book. It is the religion of envy and the reason communists will never be bitcoiners.
They will either learn the error of their ways and give up their communist fantasies or they will eventually try to kill you for your bitcoin. There is no other option.
The story of Cain and Abel will always be relevant.
