It takes a lot of pressure to make a diamond.
But take care of yourself.
IfI think soberly about how fragile the fiat system is right now, it scares the hell out of me. Hereās my thoughts:
With no reserve requirement, banks camn operate on a razor-thin cushion to be able to handle losses and operational mishaps. Lets say they have 7% of capital.
In the past few years, the US dollar index went from below 100 to over 110, then back down to around 104. That is what measures the dollar vs the euro and 6 other major currencies. Thatās their unit of account and medium of exchange whilst operating on such thin reserves. And thatās not even considering all the other risks they take.
Itās like trying fo build a house using a broken measuring tape. The game is rigged in their favor, but every once in a while someone still screws up.
I just happened to have been an investment accountant at State Street for 7 years, accounting for mutual fund groups and insurance companies who used state street as custodian.
A missing cusip at the custodian will not keep these people from learning whatās going on. In fact, it sticks out like a sore thumb.
Liquidity is drying up. Even Japam had to raise their interest rate. I donāt doubt bank failures are coming, and that they will use it as an excuse to get money from taxpayers and print money on a larger scale than ever before.
And no, I havenāt jad access to a Bloomberg terminal since 2020. But I was around when the Greekdebt crisis hit and when Lehman went bankrupt. I never heard ofdtc deleting a cusip, but maybe I just wasnāt cool enough.
If that were to happen, chstodians would still have the bond on their nooks, they justhave to update the identifier until they figure out how much of a haircut or loss they have to write down.
Sorry, but when I was growing up,
People told me when thereās people trying to bring trouble my way
To stidy a tape of NWA.
Ok thought about it. Forgive me if Iām skeptical the sec/fed will not allow extreme exploitation of true absolute scarcity.
Those ass holes do not care about protecting the public, full stop.
I gotta be honest, I only thought in terms that the price was set on that 7-12%. Didnāt think about how thatās all they get to play with to rehypothecate. Thank you.
Things donāt always go as planned around US holidays. DTCC deleting an active cusip would garner uproar from major custodians, not just the general public, time will tell on that. One single misfire in sending a stock or bond or wire is just a clerical error, but can cause a cascading effect which can take days to correct. If they are really insolvent, I donāt think dtcc would conplicitly delete their identifier, unless under significant duress.
I mean, Iām just using alby,, for now, which could easily sugger a similar fate.
But zap away!
Large scale centralized control always limits the acceptable outcomes of the parties involved, leading to decay.
And this is where I disagree with them, as scaled control is a svam. Itās no control, as it cannot hope to benefit everyone in acceptable terms.
Money is information about value.
If someone transmits value to a person and you donāt like why or who they sent itā¦ perhaps instead of questioning whether the medoum of exchange exists, instead question their motive and plan accordingly.
There are levels of laws.
The law of human freedom is higher than the laws made by tyrants. Nostr and Bitcoin applies to the higher law.
Just as an elevator uses pulleys and chords to defy the laws of gravity, so humans can use Bitcoin to defy the laws of men.
#grownostr
A lot of people had small amounts on wos not enough to warrant an on-chain tx.
I saw someone suggest a swap to liquid and store in green wallet. Fee looked like about 4k sats. Interesting because Iām not sure wos people want to make a leap to trying to run a simplified lightning router on their phone.
But I know almost nothing about liquidā¦yet.
I imagine thereās a lot of noobs that are needing to make a decision about self-custody after the WoS being de-listed in US. 
Awesome! I got it.
Thanks Lyn and Guy and others!