Announcing Proof of Reserves for Twenty One
As Bitcoiners, we hear a lot about how Wall Street has arrived to #Bitcoin. With Twenty One, #Bitcoin has arrived on Wall Street.
Don't trust, verify.
We will be publishing multiple addresses over the next week proving our #Bitcoin reserves.
Our first address can be seen below, which contains 4,812.22 BTC that was acquired via proceeds of a prior transaction: https://mempool.space/address/bc1qzup4k7zn9jur7a8kz0dnaernzyf60h8ez6s9cpmp23wfw5djhvusd4p0v3
We are also announcing today that, as of May 22, the Convertible Note Investors (all but one) and the Sponsor have exercised the option in full to purchase, in the aggregate, $100 million of Option Convertible Notes. See the Form 8-K below.
Over the next week, the four more #Bitcoin addresses we plan to publish are as follows:
- 14,000 BTC that's been contributed by Tether
- 7,000 BTC that's been contributed by Bitfinex
- 10,500 BTC that's an additional contribution from Tether on behalf of SoftBank
- The BTC we intend to acquire via the proceeds from the transaction announced today
The contributions are subject to closing of the previously announced business combination with Cantor; following such closing the BTC reserves will be transferred to wallets owned by Twenty One.
https://blossom.primal.net/b85b8e11a9e8b8d864b1054adc39613c0c2e98ef9546767738658f11a5417ef0.mp4
This is how it's done!
It genuinely blows me away how well solar panels work, I fixed two 430w panels to the side of my house and they are making over 4kw most days! So simple no moving parts just left out there in the sun gathering up energy.
Max is a prophet
I agree with you that a V8 or V10 car can be more fun to drive. When I wrote that EVs are nicer to drive, I was thinking more about the ease of one-pedal driving; it's a very relaxing drive.
I don't know where you heard about this 5–7-year battery life. I know that with some of the early EVs, like the Nissan Leafs and the i-MiEVs, they hadn't quite grasped battery thermal management, so the batteries degraded quicker than expected. Maybe some horror stories about those cars? Since then, all the car manufacturers have followed Tesla's lead with battery cooling and management. For most EVs on the road now, the batteries and motors should outlive the chassis. A few years ago, I bought a 9-year-old, high-mileage i3, and I can confirm the battery is performing very well.
Regarding lithium mining, I agree this is not ideal, but at least once extracted, it can be used repeatedly as batteries are recycled, unlike oil. With oil, you must drill for it, pump it, refine it, and then burn it in your car at around 20% efficiency.
Personally, I believe in the market, and I think people will be more interested in saving money. If they are not already, EVs will be cheaper to buy than equivalent ICE vehicles as they have fewer moving parts and less manufacturing complexity. On top of that, once someone owns one, it is usually cheaper to run, as electricity per kWh is less than gasoline. For people with solar power, it is essentially free to drive.
I Disagree with this. The idea that things made in China inferior in quality is a thing of the past.
Electrification is inevitable; economically, it is more efficient and will be the cheapest option for everyone. It is irrelevant what people think about climate change or "drill, baby, drill"; it is simply cheaper to produce energy from renewables. On top of that, electric vehicles are arguably nicer to drive.
will add it to evening watch list
where can I hear the interview?
😂 that actually made me laugh out loud
excellent stuff! keep up the top journalism 👏