Pack your bags, it’s over. #Bitcoin

UPDATE ‼️ Bitcoin price dumped 9% in 1 hour on the basis of a report by Matrixport predicting an SEC rejection of ALL Bitcoin ETF applications.

Their justification? Politics.

- 5 voting commissioners are Democrats.

- Democrats don't like 'crypto'.

- Applicants haven't satisfied the SEC's requirements.

- There is not political justification to approve a Bitcoin ETF.

I spoke to Bloomberg's ETF analyst @JSeyff at length, and together with his senior colleague @EricBalchunas - they give a +90% chance of approval due to a number of factors, especially the SEC's significant change in behaviour by way of engaging with applicants and providing them with guidance on updating their applications.

My interview with James is really worth listening to because we cover this from the outset and James lays it out quite clearly. It's worth noting James and Eric called Grayscale's victory in advance and have been accurate all the way along so far.

FULL BLOOMBERG INTERVIEW:

t.co/ASloefyIHF

There are several key reasons as to why a Bitcoin ETF is more likely to be approved this time compared to previous attempts:

1. **Grayscale's Legal Victory**: Grayscale winning its court case against the SEC has significantly shifted the landscape. This court decision has been a major catalyst in increasing the likelihood of ETF approvals.

2. **SEC's Increased Engagement with Issuers**: The SEC's proactive discussions and meetings with ETF issuers suggest a more collaborative and open approach towards resolving outstanding issues and concerns related to ETFs.

3. **Addressing SEC's Concerns**: Issuers have gradually addressed the SEC's concerns, ticking off many of the SEC's checklist of requirements for approval, such as 'Cash Creates' only.

4. **Market Evolution and Maturity**: The Bitcoin market has significantly evolved and matured over the years, with better infrastructure, increased institutional participation, and more robust regulatory frameworks.

5. **Improved Market Surveillance and Compliance**: Advances in market surveillance and compliance mechanisms have made it easier to address the SEC's concerns regarding market manipulation and fraud.

6. **Increased Institutional Interest**: Growing interest from established financial institutions in Bitcoin has likely played a role in pushing for regulatory clarity and ETF approvals.

Entertainers are singers, dancers, comedians, actors, and performers of the arts. people aren't asking them for guidance or financial insight. The show masquerades as helping people navigate the market, while having disclaimers about not being financial advice. I understand and you understand but try telling this to boomers and your grandparents. They really think they should buy/sell based on his input.

A few months ago I wrote this on twitter.

Figured I would bring it back here.

Bull runs tend to make everyone feel like a trading genius so you might be inclined to trade shitcoins.

Here we go 👇

If you're trading shitcoins to make more bitcoin, here are a few things to reflect on you might have overlooked:

If you currently own bitcoin you already have "enough" bitcoin; whatever trading you do for 99.9% of people won't make a difference. Of course, you think you are the .01% because that's human psyche, and casinos would not exist if this weren't the case, so you can probably stop reading.

Trading shitcoins is WORSE than any other kind of trading/gambling: if you subscribe to the idea that bitcoin is a technology for freedom, your trading shitcoins (i.e. giving them liquidity) provides oxygen to the most successful attack (to date) against bitcoin: generating confusion about what it is, and making people believe it's yet another speculative/trading vehicle. If you know this, then you, willingly or not, are participating in exploiting financial and freedom illiteracy.

We are where we put our attention; is your attention on something worthwhile, or is it focused on trading? Even if you just use X% of your attention, are you happy paying a (X%+context-switching-costs) tax to delay the world you want to see just because you want a slightly better position in a hyperbitcoinized world?

Your attention and time are WAY scarcer than bitcoin; are you protecting/respecting these as you do your cold storage?

You probably don't agree with this; otherwise, you wouldn't be trading shitcoins, but I'm writing this on the off-chance that you haven't considered this before and you were just too focused on the "I want more bitcoin" ambition.

TL;DR:

* You are wasting your life-force/energy on something that doesn't improve anyone's life, including your own.

* You are financially supporting scammers creating chaos.

* You are helping delay a tectonic shift in the amount of individual freedom.

It died again

Jim Cramer is a gift to the world. Literally do the opposite of whatever he says and you'll be right most of the time.

Got a free ledger nano at bitcoin Amsterdam

Just sold it for 40 bucks 🤭

What is up with Nostr today.

Tried to upload an image...

Primal - Image never uploads goes into waiting hell spin

Snort - Says I don't have a "valid subscription" when I submit, WTF is that?

Iris - won't load in a browser

Du fuck Nostonians?

Getting rid of all my socks and buying only Smartwool socks. My life is +5% better. 👌 highly recommend. They are expensive but it was totally worth it.

GOOD MORNING, NOSTR ONLY 🫡

WE POST IN CAPS.

WE LIKE THE COIN.

WE ZAP THE SATS.

I am a developer with 15 years of experience spread across many languages and I have very high competency with docker and git. I should be much better than I am for having spent 15 years developing but software development has always just been a way to make money. It's a secondary passion of mine.

All of that said, I have been feeling a bit down on myself for not contributing to this space more. I think I have been putting it off for some kind of weird fear of "not being good enough" with all of the kings in this space and the little time in my life after being a dad to several little kids, etc.

Feel free to shill or just link me your project if you are interested my help. I am aiming to put in ~1 hour per day on open source work.

I know a few of you have bluesky accounts, but I think you shouldnt contribute to the rumours about Grimes being on nostr. #asknostr #plebchain #important

Some perspective I shared with a friend who was feeling discouraged.

A good reminder for us all.

Is there any easy tool to train a custom LLM based on your own input data?

HAPPY NEW YEAR GOOD MORNING NOSTR, STAY HUMBLE AND STACK SATS 🫡