💯 Fascinating space to watch! Thanks for your work on this!
Credit Suisse Crashes To All Time Low After Boosting Deposit Rates To Reverse Bank Run https://www.zerohedge.com/markets/credit-suisse-crashes-all-time-low-after-boosting-deposit-rates-reverse-bank-run
Stock’s down 90% since 2015, trading like a shitcoin. I suspect this is the likely fate of every European bank as their primary business model of stealing wealth from people unravels. US banks to follow swiftly behind.
Credit Suisse stock is down 90% since 2015, trading like a shitcoin. I suspect this is the likely fate of every European bank as their primary business model of stealing wealth from people unravels.
- Francis D’Anconia (Atlas Shrugged)
"Money rests on the axiom that every man is the owner of his mind and his effort […] "Money demands that you sell, not your weakness to man's stupidity, but your talent to their reason"
Interesting question:
I think there will be two dynamics that will play a role:
1) Lightning Network yield on liquidity as the new risk free rate: Once it will be possible to generate a stable and reliable return on Lightning liquidity this will establish itself as the new risk free rate return on money. This yield will fluctuate as the confidence in the economy fluctuates, similar to how bond yields fluctuate today. So the more interesting question may be, what percent of BTC on the lightning network will serve as liquidity supporting transactions vs cash for spending. I suspect that a lot of it will be locked in at any given point and people will only withdraw what they need for spending on a monthly basis.
2) Safety of custodial Lightning BTC vs cold storage BTC: If custodial Lightning BTC reaches a point where people feel it’s similarly safe as cold storage on chain BTC (I don’t know the likelihood of that), the ratio that remains in cold storage could get very very low because it doesn’t return any yield. In that scenario I suppose the only BTC remaining in cold storage at any given point would be what’s needed to open and close new lightning channels.
CC #[2]
"You're penniless in this valley, Miss Taggart. You own millions of dollars in Taggart Transcontinental stock - but it will not buy one pound of bacon from Sanders' hog farm"
And it’s one of those rare songs, where a cover is as good as the original: https://youtu.be/Z2DFu7oWit0
#nostr in a nutshell:
No central control, no censorship, no shadow banning, many clients competing to produce the best experience (much more difficult to create problematic network effects).
And maybe most importantly: no attention economy business model. When there is noone paying for engagement, there is no perverted incentive to create an algorithm that maximizes porn and outrage content.
Instead people are paying for great content directly, value 4 value!
Ok und worum handelt es sich bei dem Projekt?
🤙 Any interesting Bitcoin related observations from there yet?
“Honi soit qui mal y pense”
Coole Aktion! Glückwunsch für’s Durchziehen! Was ist Projekt Mwanza?
Ah there we go! zapped! Damus seems to still be buggy and not show zaps for certain users initially.
You should set up zaps and I’ll send you a fraction of a penny right now.
Can you share a tl;dr of why it’s worth understanding? I know that Sharia prohibits interest on loans which is an interesting idea in itself. But if you have any deeper insights, I’d be interested
The Global (Universe) Feed on Damus has become useful! 👏🚀
Financial Times,
Economist,
Hacker News,
Neue Zürcher Zeitung (only remaining readable newspaper in the German speaking world)
Yeah we need to start thinking 10x. The only company that seems to be publicly doing that right now is Strike. Edging our way into the existing system is not going to do the trick.