…$43k is not this important…
SBF and FTX had effectively no governance terms, from Sequoia and some of the most “reputable” VC firms, no less.
This does not happen in the VC world.
I think governments use Elon to push boundaries on things normal public corporations cannot push forward on due to typical corporate governance and VC companies would be too small to scale meaningfully. He attracts stupid public capital because of his persona and doesn’t care enough about the rules to adhere to them. And the government gives him a pass because he is working their priorities…
He is CEO and chairman of all (??) of his companies. He does what “he” wants but all of his companies rely heavily on government subsidies for viability across all of them.
Also, in his early days, he tried to get CEO/board influence and he got told to GTFO by PayPal and others’ boards. SPACEx and Tesla was his big break for board influence…because he owned 100% of SpaceX and was the only VC money to bite on Tesla.
I wrote a paper in bschool on him … pretty fascinating doing the diligence on HIM as a person…he is not very likeable nor considerate of others and early on those who had power over him didn’t entrust him with power. Also, he hasn’t been particularly successful in delivering any sort of sustained operational success (again, without insane, continued subsidies from governments).
Hard pass for me … he’s a hype master … very fiat.
cc: nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m
Bitcoin appeals to entrepreneurial self-interest in allowing the monetization of waste, spare, and curtailed energy without the need for transmission and distribution infrastructure. This purely self-interested monetization decision is the activity that secures the network.
Good luck getting the decentralized mining community to shut their #bitcoin miners off.
Being an energy and finance professional, this dynamic alone is enough for me to allocate a huge % of my portfolio to bitcoin. Of course, bitcoin is so much more than just an energy monetization play…which makes me want to have even more of the 21M bitcoins that the protocol offers and enforces.
nostr:note1c57gmndaw3ph85xvexdumfvvxdsdumg5rmzc5jpnpulmax8pf8nse8w5sg
nostr:note1h5u7r2wx99262h2qraj6rdu06uxxcc47ammg9j4nhjr5jd56usrqlx6ryz
In addition to the popular GBTC storyline, whoever was running the covered call strategy around 24k and 28k in spring/summer ‘23 might have returned with the same strategy around 43-44k. If I recall correctly, Dylan went on with Preston and suggested there was some evidence of a Chinese firm running the strategy.
nostr:note1ggxt2d0hw603txvun83w4fmexn7y79jllws3h4z4rf9q3rpqk8sqkzp5tg
In addition to the popular GBTC storyline, whoever was running the covered call strategy around 24k and 28k in spring/summer ‘23 might have returned with the same strategy around 43-44k. If I recall correctly, @dynostr:npub1pyp9fqq60689ppds9ec3vghsm7s6s4grfya0y342g2hs3a0y6t0segc0qqnt on with @prnostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7zd suggested there was some evidence of a Chinese firm running the strategy
I see where you’re coming from but from my perspective it is not until my NGU a whole lot more.
*Palindrome block*
Open source has no profit motive because there are no moats and on a money forward basis all open source products are free. There is a paradox among bitcoiners and open source advocates. Most of them want free markets to prevail…which is cool and all, for sure.
However, when you realize that in the digital world where there is essentially NO scarcity (outside of bitcoin, of course) and no geographic advantage like in the physical world then you start to see that there is no profit opportunity for digital applications that can be instantaneously replicated, repackaged, and offered through infinite channels to the same global customer base.
Because of this, bitcoin’s eventual success will be less about digital innovation and a technological renaissance (flying cars and urban utopias) and more about a return to a hyperlocal, physical trade that cannot be censored or co-opted by large third-parties that might currently be able to bully and interfere with P2P transactions.
We’re not all class of 2011/2013/2017
Even if they wanted to, I don’t think the United States government will be able to go full tyrant. And if they tried in order to stop bitcoin, Americans are more ingenious and resilient than their government. I fully expect the “then they fight you” phase to fail and to be shorter than many might expect.
#bitcoin wins
If plebs have access to electricity and/or the internet, they’ll have access to bitcoin. They’ll have to work for it and understand how to maneuver digitally but they’ll have access to it.
Texas is going to tell the feds to fuck off. 
What’s the best process / exchange / machines for 2-12 ASICs for home mining (security motivated not profitability motivated but obviously want as much profit as possible).
Serious question: who (TF) is selling their bitcoin right now?
Yeah, at some point (and I think we’re there) people don’t have enough disposable income to make a fixed rate mortgage payment given the valuations and interest rate environment. Even if we return to low 300bps or high 200 bps, the current valuations are outlandish.
It is high school sophomore math. Pretty simple and straight forward in its implications.