The good thing is they are weak and they are greedy. Initially, #Bitcoin appeals to greed as, during the transition, it’s purchasing power increases so much. Blackrock already broke ranks. As soon as it’s obvious that #Bitcoin will rise, they’ll abandon ship. I think that threshold is around $100k-$150k.
Only after hyperbitcoinization will #Bitcoin flow to value, and ultimately end up in the most productive hands. That’s when the will lose, because they’ll spend more than the earn.
Japan intervenes in the currency market
The limit was obviously reached at 162 yen per dollar. The Japanese central bank has supported the yen with massive interventions and stabilized it again for the time being. The astonishing thing is that interest rates on US government bonds, which had to be sold beforehand for this purpose, continued to fall, so there must have been massive demand for US government bonds on the market at the same time. Possibly the European Central Bank again? It is trying to stabilize the interest rate spraid between euro and US bonds in order to avoid capital flight.
#Japan #eu #eurozone #yen nostr:nevent1qqspuc93zvx0sczkuyeuxrhchp8yl8qdtkhhm0p45nqxl9qr62ej6jqzyzrr7tz42fmwnmtn3yempmlwdvppqsh3dc2jnht42uzgsku8lmscxqcyqqqqg2g730p2n
The whole system is so broken, it can’t be fixed. We need to begin afresh. So simple too. Just #Bitcoin.
Everyone keeps complaining about how nostr:npub1sqzr42dj8vx32yd5jcvvl3ytux45kl0etgf6y2ymjvmd7lqmuwmqk9vk7v has to implement some form of KYC to be able to keep operating under the Swiss law.
While I’m not a huge fan of KYC either, I believe it’s a necessity to keep a business running (of course) and to get #bitcoin to the masses.
In my opinion Bitcoin should be regulated in some way at least. Otherwise we’ll never have mass adoption.
Ofcourse there are still other ways to stack sats, but I don’t have any experience with them. I might check them out some day…
I like ease of use, good customer service and a respectable team. In my opinion, as a European Bitcoiner there’s no better service out there (yet?)
I’ll keep using Relai for now.
But you do you.
✌🏻
#bitcoin #btc #kyc #relai #relaiapp #buybitcoin #stacksats
Bitcoin is a peer to peer electronic cash system. It inherently can not be regulated. It’s peer to peer, without a third party. It separates money and state. Are you talking about the on-ramps? They are a temporary phenomenon, as, after hyperbitcoinization, one has to earn their #Bitcoin. We can work around attempts to stop or surveillance us in the meantime…
Actually, 17,000, and decreasing. Need more nodes. Everyone should also run a solo miner.
Don't get too pumped about Trump speaking at this year's nostr:npub1rwh33t5x8n7czknhts5fg0v0fml8mkl7neaarksumkkf8d679qrqcz7avv, there are forces in motion that could severely impact the bitcoin industry if people don't begin to make noise.
Earlier today there was a Senate Agriculture Committee hearing on Oversight of Digital Commodities with the head of the CFTC that everyone should watch.
If the legislation that is inevitably going to come out of this hearing gets passed it won't matter if Trump gets into office. The industry will be hindered for years. There is bi-partisan support at the moment as Democrats are moving quickly to react to the buzz Republicans have received due to their embrace of bitcoin.
Long story short, this committee is pushing to give the CFTC regulatory oversight over spot bitcoin markets, which is an unprecedented expansion of CFTC authority into retail commodities trades whereas in the past they have exclusively had jurisdiction over only commodities derivatives markets.
If the CFTC is granted this expansion of authority it would mean that they are likely going to require any bitcoin company to register with the federal government and have enhanced KYC/AML requirements. To be clear, this won't only affect exchanges, but any company that touches spot bitcoin.
These efforts are being spearheaded on the crypto side via lobbying efforts by Kraken, Coinbase and Ripple. Not shocking because this would likely enable them to trivially erect regulatory moats.
It looks like the bi-partisan effort will be looking to pass something through the House and into law rather quickly. Likely before the election.
It is imperative that you speak out against this as it would increase the regulatory and compliance burdens on US bitcoin companies considerably. The best move right now is no action. We need less regulation, not more. As we've seen time and time again throughout the first 15-years of bitcoin, these regulations but users in harm's way and make it unreasonably difficult for companies to operate cheaply and effectively.
Call you Representative and tell them to reject any bill that would give the CFTC oversight over spot bitcoin markets. This is a full on attack.
Bitcoin: A Peer-to-Peer Electronic Cash System
The USD obviously won’t survive. But „just saying it“ isn’t honest for one. And has consequences. Pushing #Bitcoin into a corner of just being a store of value, and disconnecting it from unit of account and most importantly medium of exchange facilitates it’s regulation, taxation via capital gains and ultimately surveillance. I’d be careful with Michael Saylor. Lots of other red flags…
How do you feel about his view of the future of the USD?
LOL. Probably rigged. And it also doesn’t matter. Nevertheless, my standard 2Sats about democracy, even if it wasn’t rigged, it doesn’t work:
H.L. Mencken explains why democracy is doomed in 10 points:
1. People don't want freedom but safety: "The average man wants the peace of a hog in a comfortable sty."
2. Democracy INTENSIFIES groupthink: "Democratic man is quite unable to think of himself as a free individual; he must belong to a group, or shake with fear and loneliness."
3. Democracies are plutocracies; they're run by the aristocracy of money. But the plutocracy "lacks all the essential characters of a true aristocracy: a clean tradition, culture, public spirit, honesty, honor, courage—above all, courage. It is transient and lacks a goal."
4. The plutocrats lack "an aristocratic disinterestedness born of aristocratic security." He submits. He can be bullied and broken.
5. Democracies birth their intellectual apologists - Mencken calls them "pedagogues." These are not genuine thinkers; they’re "men chiefly marked by their haunting fear of losing their jobs." This describes most journalists.
6. Democracy is anti-excellence. Freud said we repress our sex drive as it’s frowned upon...but there’s nothing that democracy frowns upon more than a CLEAR proof of superiority. Democracy says "the most worthy & laudable citizen is that one who is most like all the rest."
7. Mencken explains how this era demands we repress our greatness: "A man who has throttled a bad impulse has at least some consolation in his agonies. But a man who has throttled a good one is in a bad way indeed. Yet this great Republic swarms with such men, & their sufferings are under every eye."
8. Mencken on the two worst crimes in a democracy: "There is only one sound argument for democracy, and that is the argument that it is a crime for any man to hold himself out as better than other men, and, above all, a most heinous offense for him to prove it."
9. Mencken: "The democratic politician, confronted by the dishonesty and stupidity of his master, the mob, tries to convince himself and all the rest of us that it is really full of rectitude and wisdom." To gain power in a democracy, men sacrifice their self-respect...
10. Mencken believed democracy will cancel itself out: "Democracy may be a self-limiting disease, as civilization itself seems to be. There are thumping paradoxes in its philosophy, and some of them have a suicidal smack."
-a tweet from @oldbooksguy
#Nostr is at the pinnacle of free commerce and free speech. Ready to go, for humanity to flourish….
I find it hard to believe people would vote for Starmer. His agenda is very similar, just more extreme. Seems fishy.
I can’t imagine people really voted for Keir Starmer. But there isn’t really a way to truly corroborate voting results.
💯, but you need signals. Scarcity of money is key. A fixed frame of reference to see what works and what doesn’t. For example, companies like Boeing and frankly Tesla etc wouldn’t exist anymore. Instead end of ultimately printing trillions of dollars to bail them out, under a #Bitcoin standard, investors would have chosen to put their money into the things with the highest return. And we’d be maybe flying around in drones, instead of 1940s jets and being stuck in traffic. Because under a Bitcoin standard there consequences for bad investments.
European disease hits the USA
The US is suffering from the European disease: almost all jobs are being created in the government sector, new parasitic jobs that have to be paid for by the active population. Of the 221,000 newly offered jobs created last month, 179,000 were government jobs. This is the road to socialism, the road to national bankruptcy, the death of free enterprise productivity. This is the last shot President Biden's failed administration can fire, having already run down the Strategic Petroleum Reserve as far as it could to manipulate oil prices downward.
#USA #JobMarket #Socialism #Biden https://nostrcheck.me/media/863f2c555276e9ed738933b0efee6b021042f16e1529dd755704885b87fee183/2f036fa617338adcfc1743007e004103aa82bcb161eab8498c69420677890722.webp
If you add the hordes of bank administrators, health administrators, consultants, Pharma administrators, google, Apple etc in these huge high rises…I would say most of the US jobs are “bull-shit” jobs to keep the sheeple thinking they are achieving the American dream. Granted, wait-staff, construction, surgeons, Amazon packers etc are doing real work.
They all work for the same people….
#catstr 
💯, and now they can put in the nominee THEY chose, not the people. Not that it matters, just interesting to watch.
