What are the regulators going to do if the bank is just a few vaults filled with insured physical cash, and the bank does full AML/KYC?

You might be able to find funding to start such a bank purely to show how ridiculous the regulators are being. Doesn't necessarily need to make a profit to be worth doing.

have any MURICAN🇺🇸🏈🦅 bitcoin bros thought about the following:

is it conceivable that an extremely bitcoin-friendly state legislature (Wyoming? Texas? Florida?) could create a regulatory environment to allow for USD-based fully reserved banking that simply has no connection to the federal reserve system or any federal regulatory agencies?

so Custodia or The Narrow Bank, but presumably needing to keep business in-state?

if so, could it work mechanically? you’d obviously be cut off from FedWire but what about ACH? it could conceivably issue and acquire for card networks too via whatever clearinghouse options work mechanically, unless political pressure cuts this off? but then, if the starting point is friendly regulation, surely part of that could be: “listen up, VISA, either you let AllenBancorpOfWyoming in or you GTFO our state”?

this can go in a bajillion directions, so any and every thought entirely welcome. please also tag whoever you think would have interesting thoughts. I’ll start with #[0], #[1]​, and #[2]​ … what do you all think?

Honestly, for any home setup, I don’t recommend anything that uses a client. They are all pretty bad. Setup a VM or Docker that does Wireguard to Mullvad. Few iptables rules to NAT all outbound traffic to the tunnel IP. Any home client you want on VPN, point to VM/Docker as default gw. If not leave .1 as default gw. Best of both worlds.

idk who posted about Mullvad VPN on here but thanks! Been using it for a couple weeks now and loving it

I am using Proton on Android full time. And macOS a good amount of time. Seems fine?

How does Proton compare with it?

idk who posted about Mullvad VPN on here but thanks! Been using it for a couple weeks now and loving it

Bitcoin is a bank that is not fractionally reserved, can always redeem deposits, and holds money that can never be diluted.

People who hate Bitcoin simply do not understand this.

PV my friends 🟣🟠

gold, silver HOD

Is the end of rate hikes?

The market hasn’t figured it out yet. If it is, extremely bullish for equities and Bitcoin in my honest opinion.

Is the Fed going to be forced to “tolerate” inflation?

1910's - Woodrow Wilson was very pro-war despite campaigning for no war

1930's and 40's - Communists were anti-war until Russia got invaded and then were pro-war, like the rest of the left

1950's - The left was pro-war and Truman lost to Eisenhower who wanted to end the Korean War

1960's - The left was pro-war until they actually had to go fight and only the radical left was anti-war for a short time toward the end

1990's - Everyone was pro-war, including the left

2000's - They were pro Afghanistan, and only anti-Iraq after a year or so.

Historically, the right has been more isolationist. It's only with the advent of the neocons in the 70's that they've become very pro-war. 1971 really was a watershed year because the US had to start defending the dollar hegemony through military means.

not gonna lie, selfishly, one of the things I look forward to the most with bitcoin+nostr swallowing everything else is not having to learn any more proprietary APIs

reflect on the millions of human-hours WASTED learning/implementing irrelevant APIs to siloed data stores that become obsolete within years

“Today's sale of $32B in 10Y notes had to be priced at a high yield of 3.985% and promptly tailed when Issued by 2.7bps. Of the past 5 10Y auctions, 4 have tailed or had stop throughs of more than 2bps, a degree of volatility never seen before. What does this mean? Even a moderately sized auction pushes down price (pushes up yield), a sure sign of poor liquidity. Why does this matter? We think the Treasury may be headed for a crisis where issuance exceeds market's appetite.”

-Seabridge Gold Investor

Luke Groman’s Response:

“DXY bounces from 101 to 105 and right on cue, UST auctions get notably weaker.

If Powell wants to be Volcker and not Burns, he will have to be willing to stand aside as a UST auction fails.

That ain’t gonna be allowed to happen, IMO.”

Larry Leopard’s response:

“Holy shit. A 2.7bps tail is close to failure, correct?”