According to the AI “lawyers” at Chat GPT, there are potential loopholes in the new clause, here’s a tldr, but I’d suggest prompting the full section yourself and digging in.

1. “Subject to the capital provider’s terms”

2. “ultimately held in segregated wallets” allows for temporary pooling or indirect use

3. No definition of re-hypothecation and on-lent: does this include derivatives and what about cross-margining or internal leverage on the capital provider’s balance sheet.

My take:

No modern day lender wants straight consumer book yield, they want their regular dose of leveraged rolled-up steroids. You get a mortgage, your house itself is not re-hypothecated: but the land title is altered, and the lender can and does rehypothecate the mortgage itself, which is now backed by your/their house.

This indirect mortgage re-hypothecation can cause a house of cards to be built atop an otherwise stable asset class, and when that house is big enough, stakeholders that are not the customer have direct incentives to manipulate the underlying asset to either stabilise or disrupt, for profit.

Careful of the doxxing phase—they run through the streets yelling “Bitcoin” and fiat strangers just say “aw how cute”. PS: it lasts forever.

Go caffeine free and you’ll get your answer: The cave you fear to enter holds the treasure you seek.

wow, it really is 99% men at bitcoin conferences

Hey @soapminer I’ve been using a tallow deodorant from South Africa that is epic, want a pic of the ingredients?

and this is why you turn off autotext, predictive text and ai completion, because here, we do it too… just differently.

In theory, anything less than 100% is fine.

This makes me want to take up smoking. What are they hiding. Nicotine benefits?

Imagine the incentive structure that develops in a model like this.

😮 “I cant access my wallet, can you help”?

🤑 “Yes, yes we can, I see it had $900,000 dollars on it—no seed phrase, no problem: we use a percentage of balance approach as there is more risk involved for recovering more funds, shall we continue with recovery”?

It should have been multiple lounges, and if the lounge got uncomfortable, you’d get up… leave, and take all of your followers with you.

yeah lumping it in with a pump and dump shitcoin, thats not what mw was.

that depends on his facial expression

Wording like this lumps him into a category of people he shouldn’t be lumped in with.

Working out with my phone and headphones no more: It’s done something to the experience that persists beyond the session—something weird but good.

I’m genuinely sick of the following ego content: people who instead of saying “I eat steak” they say “You should eat steak” like some sort of influencer. I’m about to block all ego content. I didn’t get into this magical world to be told what the price will be, what to eat, what to think or what to do—In fact it was the opposite.

Men have the ability to express the entire snow roof, but most men choose to express the shovelled corner: this preserves the self, and the relationship. Order > chaos.

I’ve come to realize this is what alt-buyers say… not what they mean. They are experienced enough to know you can buy Sats, but here’s what they really mean:

“You got in earlier than me, I cannot possibly catch up and I don’t think BTC will 10x again, so in order to catch up, I’m going to invest in alts and hope one pumps so I can have what you have”

Let’s see some real open source homeschooling networks and curriculum developed and posted, not just anecdotal evidence. We all shouldn’t have to reinvent the wheel every time.

Put down the media and pick up Foucault.

“Chilling and be happy” is not always possible when there are lions around.