tftc.io has some tremendous content, glad I found it! Appreciate your work👍
Trying to use Nostr more or spend less time using “the other one.” Once you get the hang of it, it’s a much better, more focused experience….not to mention the benefits of being part of a new and better ecosystem. Takes some practice and patience, but it’s worth it.
It’s difficult to imagine that LockBit, a largely Russian crew, would feel empowered on their own to hit a very sensitive Chinese target, which also happens to be the largest bank in the world….
Ten31 Timestamp
https://www.ten31timestamp.com/p/ten31-timestamp-816314
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Stocks and bonds broadly sustained their rally from last week despite ongoing signs of deterioration in global financial plumbing. The most notable headline from the week was the US Treasury’s especially weak auction of new 30-year bonds, which resulted in the highest tail for a new issue since 2016 – the mainstream press generally attributed the very soft result to a cyberattack on a major Chinese bank, but we would probably contend that this isn’t exactly a cause for relief even if entirely true. The US commercial real estate backdrop also worsened on the week, with banks’ exposure to delinquent loans making new decade highs before even accounting for the downstream impacts of WeWork’s bankruptcy, which was officially filed this week. Meanwhile, consumer expectations for inflation once again ticked up in the latest benchmark survey data, potentially putting the Fed in an increasingly awkward position, as unanchored inflation expectations will likely move higher if the central bank tries to respond to growing signs of underlying macro stress with some form of easier monetary policy. The capstone for the week came late Friday, when ratings agency Moody’s downgraded its outlook for US sovereign debt to negative.
While bankers around the world rushed to complete Treasury auctions with thumb drives, the Ten31 team was spending the week at Nostrville, a multi-day summit at Nashville’s Bitcoin Park devoted to the organic explosion of development taking place in the Nostr ecosystem. This decentralized communications protocol is still nascent, but the pace and volume of innovation on display for a protocol that only really took off late last year is staggering. We expect to continue closely following and supporting the ecosystem as it matures and becomes a more critical pillar in the freedom tech stack.
Industry is attributing the ransomware attack to LockBit, a largely Russian crew. Embarrassing to Russia if a Russian crew hit such a sensitive Chinese target, ICBC is the world’s largest bank. Of course things happen, but that just seems odd.
There are two very basic actions that, as you consider them, seemingly become acts of resistance - signing a bitcoin transaction and using Nostr. You don’t expect to get a buzz from something as simple as opting to post on one social media site vice another, but when you consider these tiny acts of noncompliance, well the buzz gathers a bit of sting. I know there are a lot of people out there predisposed to enjoying that buzz, people who just want to claw back a little bit of themselves back from the Borg.
I was listening to nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z talking to nostr:npub1pyp9fqq60689ppds9ec3vghsm7s6s4grfya0y342g2hs3a0y6t0segc0qq on his podcast today and they covered speculation vs investing.
Preston defined people picking up something to sell it for a fiat gain as speculation. The context was there are people buying long bonds right now because they may catch a short term bid (speculation). They don't buy them to hold them because they are good asset with good fundamentals (investing).
What hit me is that I think #btc has turned a lot of speculators into investors. I'm not buying it to turn a quick fiat profit. I'm buying #btc because I think it is good for the long run.
My father is a long retired Wall Street vet, whom I not only love but also deeply respect. He asked me not long ago whether I was committing the investor’s mortal sin regarding BTC…falling in love with your investment. What followed was a long discussion, really the first time I walked him through my thesis and why I believe. It was a great exercise because I’m not looking to orange pill him, but there’s something about having explain yourself to your father (regardless of age…) that puts things in sharp focus very quickly. When he finally told me, “You’re probably right,” I kinda felt like I had arrived at next level Bitcoiner status.
I agree with your premise. A lot of Bitcoiners will hate this, but the price action over the last month has been driven by ETF expectations. I don’t think new buyers are thinking about the halving. Although the institutional research that has driven this push toward ETF approval certainly took timing into account, new money only sees “Blackrock buying” over the next few months. But that’s fine, impact will eventually catch narrative.
Hence the hatred of Bitcoin in general. The regulatory class in DC reflexively doesn’t like what it can’t control. This is another reason why we are way past the financial privacy discussions of 10-20 years ago. In the current system, financial privacy is simply unable to exist. There is none.
Appreciate the update! Will continue waiting patiently…..
But I feel like that number gets just a little smaller every day!
Any updates on the book delivery date? In time for Christmas???
Eeek….not my first post. Anyway, time to focus on Nostr a bit!
My first post on Nostr! Next project - track down all my favorite Bitcoin accounts from Twitter….
Also exploring this new world 👍