Avatar
Lyle Pratt
27f211f4542fd89d673cfad15b6d838cc5d525615aae8695ed1dcebc39b2dadb
Building vida.io.

#[0]​

Former FDIC chair on the deposit "insurance fund."

Worth keeping in mind so you have some context about how much money is being tossed around:

One billion seconds is roughly 31.5 years. One trillion seconds is equal to about 31,710 years.

seek safety in sats

by buying the bonds at par, the facility is preventing the money supply (debt) from shrinking, so very QE like imo. “funding” for banks trading in bad assets and getting par value dollars for them (they would have otherwise gotten less dollars for them).

Seems like Tether should hedge a bit and convert some small, portion of their treasury to bitcoin and make it public. Something like 10% ($7.5B) as insurance against banking shenanigans which are certain to increase. They’re probably 10% over collateralized already anyway.

A European bank has under water treasuries. Fed accepts them at par and gives them dollars which they either lend or hand out when deposits are redeemed. This “swap line” lets Banks and foreign governments hold USTs with zero downside (nominal) risk, insuring US debt demand.

grilling up some reverse seared K&C steaks. cheers friends 🤙

$1M is cheap for the attention and since he owns 1000+ BTC, anything above 4% upward price movement pays for it.

a node in every browser tab with #[0]

my fam is out of town so i’m watching John Wick really loud 😂. loud action movies and little kids are so rare. he has a Kimber that looks an awful lot like this one in #3

just got a delivery from K&C beef. i wish Parker was on nostr so i could thank him for orange pilling all the ranchers. huge quality of life improvement for me.

I just tried it with wallet of satoshi and it worked (LN invoice as a URL param on a valid URL). Strike didn’t work.

Ahh very interesting! Are you aware of any other wallets that support a similar format?

seems like LN wallets could just look for a special query param on any URL (which could contain the LNURL or invoice). If scanned with a wallet, it would see the param and work as normal. If scanned with a phone camera, it would go to the URL as normal. does this already exist?

seems like LN wallets could just look for a special query param on any URL (which could contain the LNURL or invoice). If scanned with a wallet, it would see the param and work as normal. If scanned with a phone camera, it would go to the URL as normal. does this already exist?

LNURL QR codes need some kind of web url fallback if they get scanned with a normal camera QR scanner 🤔

The point of the BTFP program is to insulate banks from under water bonds so that the Fed can keep hiking. Not only that but, this will increase bank demand for qualifying debt like USTs and MBSs which is exactly what they want. IMO, stuff needs to get worse for hikes to halt.