Ok Saylor, that’s enough. Save some for the rest of us.

It’s everywhere

Skull of Satoshi big green candle

#[4]​ is on a covert mission to steal it. I don’t know if that is still part of his plan as he may be sober now.

Yep. I heard that it would tour for a year. It may be put up for sale after that (very likely)

Is anyone following the RESTRICT Act (TikTok ban)? If broadly interpreted, it’s argued that it gives the US president the ability to ban technologies, including bitcoin. It’s like a 6102 based on the RESTRICT Act, but for bitcoin.

On a scale of 1 (meh) to 10 (crazy for it), how much do you like the Skull of Satoshi?

Me:

I’m in awe. The base of the skull is conspicuously shaped as a volcano. Nuclear cooling towers emanate like a king’s crown. Even the worker has to sit back on the side and appreciate the creation.

Skull of Satoshi with nuclear power smokestacks. Fuck yeah.

I think I need a replica of the Satoshi Skull.

Gensler said “everything other than bitcoin” is a security (NyMag 2/23/23). How people continue to buy shitcoins is beyond me.

Rapture: (n) the feeling of intense pleasure or joy

Bankrapture: (n) the pleasurable feeling experienced by bitcoiners watching bank runs

Yeah, you can’t neglect the Fed’s impact, but the NASDAQ is up 1.5% versus 15% for Bitcoin…and that’s in the setting of a suggested tax on bitcoin miners and un-banking exchanges. There’s certainly more to it than just the Fed.

Dear Normies,

Bitcoin will be there when you need it. You’ll be able to get it at the price you deserve.

The FED is back to brrrr, but the market is down.

Bitcoin is up in the setting of a crackdown on Bitcoin banks and mining.

This has to make the overlords angry.

Me, I’m just gonna enjoy the day.

…and now it’s official. Printer is back on. That’s the pivot.

The FED is talking about turning the money printer back on. Banks have at least 600 billion in underwater assets.

From what I read, it sounds worse than $0.91. The first people that are able to redeem will get $1, but after Circle no longer has enough money to cover redemptions, USDC holders get nothing. USDC becomes completely worthless. A bank run destroys all value in USDC. I don’t know why people would take a chance on it.

There’s serious talk about bailing out depositors at Silicon Valley Bank and leaving American taxpayers on the hook. Once again, the American system is privatizing gains and socializing losses for the most powerful.

VC’s chose to ignore the risks inherent in the system. Perhaps the precise way this is playing out wasn’t entirely predictable, but a system based on leverage and debt is bound to fail one way or the other. Each bailout will only increase in size, allowing the most powerful to up the leverage. If depositors get away it through bailouts, the powerful will never learn.

But, how will they learn this important lesson?

The only way they will learn is through pain.

Pain is the best teacher.

A16z uses Silicon Valley Bank.