I think this happens pretty regularly in the global south...IIRC, 2/3 of US printed $100 bills are held outside the US, not because they're transacted with, but because it's a way for people to store value in a way that's better than their lousy local gov't paper.

Slight tweak...ETH isn't worth 0.15 BTC anymore.

nostr:note1fmmcgsrhxhl6vggxd5z8pke4rshr70587z9zevtvgklzk6uctu9s0rzyqc

IBIT expense ratio a little more than 12 basis points in that case...

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https://fountain.fm/clip/BYYgqSIjxqtBbv6Acysg

No one who runs a node would ever want to HF to dilute themselves, and in the process, undermine the inflation schedule everyone's been opting into since 2009.

Unless, ofc, one expects to find it more profitable to spin off a shitcoin that one can exert undue influence over. S2X companies were in this position in 2017, had their own client and repository, and pulled out at the last minute b/c they realized that being out of consensus is gonna be more costly than they were expecting. Ver & crew tried it anyway, to their detriment.

If I were a betting man, which I am, I'd say it's realistic to expect Blackrock to try this at least once. Beauty of hodling your own sats is that you share in the outcome of both sides...bitcoin and cuckcoin/inflationcoin/happycoin/ESGcoin/Larrycoin

Shitcoins are one of the most frustrating things to me...such a destructive distraction.

Peddlers use false association with bitcoin to try to gain themselves credibility. Like a scam artist who goes to your church and swindles old people there.

Palantir was the crystal ball type type thing that was comms between Saruman and Sauron...WTF a spyware company would want to name themselves after Sauron's ring doorbell is beyond me.

I mean, that's what they are obviously, but why they'd wanna evoke that metaphor is beyond me.

that's an apt articulation

TIL: Nasdaq-100 is a stock index that holds the top 100 non-financial companies listed on Nasdaq. This index is tracked by many passive index funds, notably mega-ETF QQQ. Being in this list is a big deal for a publicly traded company, as it means that lots of funds will be buying their shares irrespective of price/PE/opinion, because they have to own what's in the index. The index is reassessed periodically (quarterly?) for who belongs and who doesn't, and they have 3 substitutions this month.

In: Microstrategy, Palantir, and Axon Enterprise

Most of you are familiar with MSTR. Palantir sells spyware, and Axon is a tech/weapons company whose best seller is the Taser.

Out: Illumina, Super Micro Computer, and Moderna.

Illumina develops genetic research products, SMCI makes AI hardware, and Moderna was one of two companies who brought COVID vaccines to market.

I'm getting a kick out of this info, for reasons I can't quite articulate.

this info might be too late for today's visit...ask if the vet can write you a prescription for you to bring to a pharmacy of your choosing...you'll get charged way more for meds at a vet vs a pharmacy.

no hate on vets, a big chunk of their profits come from selling meds, and they're entitled to make revenue. that said, once you know you can get 100 caps of gabapentin from your pharmacy for $15 or the vet for $75, it's an easy choice, especially for maintenance meds.

also, metacam is brand name liquid vet form of meloxicam, and expensive. human meloxicam tabs are super cheap.

some vet drugs don't have an exact or close equivalent that pharmacies carry. most do though, so always ask.

The block size war was indeed a case when the will of the majority of network participants won out over a few very powerful actors. If the magnificent 7 wanted to hard fork the internet, so to speak, and coordinated, it would happen. Bitcoin resisted such an attempt.

Economic nodes were a big part of winning the blocksize war. Sure, individual node runners ran and signaled UASF. The nail in the coffin for S2X was exchanges declaring the original fork is BTC, and listing futures markets for the fork tokens, which demonstrated the market valued BTC way more than S2X.

Holding BTC doesn't give one control over the network directly...fiat incentives can begin to exert negative influence over the network though. The economic nodes are a big part of how things have played out and will play out.

Worst case scenario...a new soft fork is built and disseminated to miners and exchanges (which are most of the economic nodes) that only permits paying to addresses on a KYC-ed and approved list kept and updated by some govt agency. Will that create a chain split? You bet. Each fork, bitcoin & cuckcoin, will have a different value. The network effect power will trend towards the economic value of each chain.

No one stayed with bcash after a few years...messy, but ultimately definitive. It'd be a much messier situation in the scenario above.

I can make a glowing testimonial to this recommendation

sorry you two..."crypto couple" is already taken. continue the search for your brand please.

Roger is attempting to give himself the credibility he had in 2015, and totally ignoring that he was one of the architects of the bcash mess. He owns bitcoin dot com, and in 2017 started hawking bcash as if it were bitcoin. To this day, people are misled by this. The market speaks for itself regarding its value vs bitcoin, and anyone who was persuaded or misled by Roger has far less bitcoin now because of it.

He was big on yelling "censorship" in the 2016-2017 days. The r/bitcoin subreddit was where a lot of the discussions were happening, the admins of r/bitcoin didn't permit shitcoinery in their subreddit, and they considered implementations of bitcoin that weren't in consensus with the network to be shitcoins. Before there was bcash, there was bitcoin unlimited. Before BU, there was bitcoin classic. Ver promoted them all.

To say those in consensus (small blockers, if you like) censor big blockers (those that mine blocks greater than 1mb pre-segwit, 4m weight units now) is same as saying they're censoring txns that spend coins they don't have, sign for utxos they don't have the private keys for, or pay themselves 1000 btc in the coinbase txn. He's calling being out of consensus "censorship."

Bcashers spun up r/btc to have the discussions they wanted to have. Confusingly, the ticker for bitcoin is BTC, and bcash is BCH, or BCC on finex I think.

I was having a conversation with a precoiner this year who was on the cusp of becoming a newcoiner, and based on some of what he said, it was clear he's been misled by bcash rhetoric. Such a costly DDOS.

Recent text to a newcoiner, who brought up price action to me recently:

Thought regarding BTC price action...once people get off zero (taking one's assets from 0% BTC to some small amount), the daily/hourly price can be mesmerizing, but it can make people do dumb things, like buying high and selling low. Human psychology often makes us do stupid things when it comes to trading...some of the best performing accounts at traditional brokerages belong to clients who've been dead for years, because they're not moving things around in their portfolio, tripping themselves up.

We see the hourly and daily moves in the price...that's like waves at the beach. The trend, however, is like the tide. And the tide's coming in.

A thought about framing...$100,000 sounds expensive...2.4x median US income.

Another way to frame it is in the context of $900T of global assets. That number is ofc kind of augmented d/t all kinds of BS debt shenanigans, however it's a reference point.

Current BTC market cap...$2T

Current global assets...$900T

BTC currently makes up 0.22% of global assets. Gold is about 9x that (~2%). Is it reasonable for BTC value to reach that of gold, 2% of global assets? 5%? 10%?

I'm sure they also impose limits on lottery and sports betting, right?

Fun fact...inflation doesn't just happen naturally. It oscillated around zero throughout most American history.