Hey Nostrichs, I am trying to convince my friends Scotch is better than Bourbon. Provide your argument 👇

summoning circle, hope it works:

🕯     🕯

🕯                       🕯

🕯   21k sats zap    🕯

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I suspect it’s somewhat the latter and I said as much in my Nostr Report op-ed today. He’s testing the Tinkerbell-inflation hypothesis

But that’s already the case for fiat and we’re seeing the problems there, so in a sense we just have to go for it and it will be a bumpy ride regardless.

💯 and to be clear, the issue isn’t that it won’t get there in time. But when you start dealing with the law of large numbers and are talking tens of trillions of dollars, the game and consequences are different than millions/billions.

Valuation by market capitalisation is a huge scam, because the liquidity is NEVER there for such a transaction outside of M&A.

It makes vastly more sense for valuations to take a haircut from market capitalisation with the size of the haircut inversely proportional to the liquidity of the limit order book.

This is all because our financial system legislation is designed by accountants (static asset values), and not merchants (liquidity participants).

The system is antiqued and even if we change the monetary instrument to Bitcoin, we still need the technology to do real time valuations by bid liquidity and not by price of most recent trade.

These small details change the structure of everything.

I would hope that’s the case but regardless of the asset, having 19.5 trillion dollars flowing into something that fast usually would mean something is happening on the flipside of it all. I just don’t see whatever that flipside is being a good thing.

I don’t know much nor pretend to know much as the entire system is so very complex but just seeing that kind of potential movement that fast worries me.

Yeah maybe his thought process is just using the bet as a siren and wake up call by being insanely extreme.

$100k prediction wouldn’t be that unreasonable, but $1M would be like a 20 trilly mcap or something which is bonkers to me personally. I don’t like to think of the overall collapse that has to happen to get to that number. It’s not a good scenario for anyone.

For anyone encountering problems with Damus after 1.3.0 (1), are you using iPadOS? Do you have access to iPad and iPhone and can compare the two?

Damus 1.3.0 (4) is already out on TestFlight.

You’re behind a few builds.

Maybe thats the takeaway…

Whole thing is a bit crazy to me honestly. Not loving it but interesting to watch.

Thank you, looks like i was wrong and missed this. That’s insanely bullish and also kinda apocalyptic honestly. That kind of price appreciation would mean a lot of other terrible things would be happening. Not great nor something anyone should cheerlead imo.

“Yes. Just moving money for the bet. We can do it via smart contract, but for simplicity old-fashioned escrow may work.

The escrow person would need one BTC address and one ETH address (for the USDC). The assets would sit on chain for 90 days.

If BTC < $1M in 90 days after escrow, then you win and get both the 1 BTC and the $1M USDC.

If BTC > $1M USD in 90 days after escrow, then I win and get both the 1 BTC and the (now worthless) $1M USDC.

@cobie has escrowed bets of this kind before. I propose him. If not, perhaps @ByrneHobart or @profplum99. Let me know if any of those are acceptable to you.”

Can anyone who is on BT show me a tweet where Balajis actually says Bitcoin is going to $1M in 90 days?

Lots of ‘influencers’ are saying this but I think their reading comprehension is lacking. Balajis made a $1M bet but nowhere do i see a price prediction. Way too many people are harping about this dumb hopium.

🙏🏻

This thread makes me want to go buy all the old wacky apple products. They had such a fun vibe to them. Remember the old flower power imac?

Somewhere (that I can't find now) I read that deflationary periods have been the most innovative because people are more careful with money and have to be more focused on building value. Anyone know what I'm talking about?