so in case it's not confusing enough, here's my confusing take: the tax treatment of bitcoin is that it is capital.

to spend something as money that causes you to loose 20% of it's value just for spending it...that doesn't seem very smart.

so i get why Saylor is like "let them have dollars, if we can keep the bitcoin and issue debt backed by it."

since it's digital capital that has the technical ability to be money, once there is regulatory clarity.

until that day comes, I get why someone who is efficiency-oriented to not spend it and issue these stable coins.

the rest of us zapping capital as money are just eccentric.

i could be wrong, but i don't think nature likes eccentric.

The worst kind of lunatic is a very smart lunatic

The worst kind of lunatic is a very smart lunatic

Fun fact: The original Reddit community token was bitcoin. ChangeTip never rugged anyone.

it is. See, an OTC desk for example who just sold a bunch of BTC to an institution is "short" Bitcoin. They want to balance their book before the markets close. The same goes if they're long Bitcoin by having more BTC on their book than they should have dollar. As for brokers, they're unlikely to leave open positions on the markets unattended. Add their end-of-year reporting to the mix and you got the full picture.

It's the same every year and one reason why I stopped stealing sats for a few days. I'll get back to that in the new year once everyone else returns to their trading desks.

GM 🙏

it is. See, an OTC desk for example who just sold a bunch of BTC to an institution is "short" Bitcoin. They want to balance their book before the markets close. The same goes if they're long Bitcoin by having more BTC on their book than they should have dollar. As for brokers, they're unlikely to leave open positions on the markets unattended. Add their end-of-year reporting to the mix and you got the full picture.

It's the same every year and one reason why I stopped stealing sats for a few days. I'll get back to that in the new year once everyone else returns to their trading desks.

The Left: White people succeed because of white privilege.

The Right: White people are lazy and stupid. That’s why they’re not successful.

Either way, they hate whites. It’s a derivative of the Christian hate that’s been amplified since Obama took office.

NWO.

As brokers and OTCs are levelling out their books for the end of the year, 94k is being put through a stress test.

picahna > piranha

They do not exist in these rivers. Only in rivers of warmer water

So many unintended consequences the last 4 years. It’s impossible to predict all of them. They aren’t omniscient. Very entertaining . America is so back bros

my dad still pays his credit cards by driving to the post office and mailing checks ... (he hates apps and websites, I've tried.. )

but he has Bitcoin in cold storage

makes me laugh every time I think about it