pull down to refresh
0 sats \ 0 replies \ @justin_shocknet 18h \ parent \ on: Republicans want to tax remittances sent by migrants, visa holders -- 5% "exise" bitcoin
Certified spook on the O-Plan
Chess not checkers...
It'll get them to use stablecoins
Stablecoins that monetize the debt with no interest
Stablecoins that keep international trade moving without the US issuing new debt
Stablecoins that necessitate digital wallets that soften the landing to Bitcoin as the new base money that institutions are accumulating
Every headline is part of a script directed by the IC... they're working on a budget bill through the weekend.
Based on some clips I've seen from actors on the hill on this, its narrative enforcement, and my guess is this budget shit will go into the summer.
Bannon has been roadshowing a constitutional crisis over the summer (as I've long been predicting #753210 | https://stacker.news/search?amount=&q=%40justin_shocknet+constitutional+convention). He says a "convergence" of crisis, so debt stuff plus habeus corpus would be a nice mix.
Popcorn longs still open.
Depends how print is defined, this would mean less printing in the form of monetary stimulus and national debt, but does allow the banks themselves to create more private credit elastically with growth (non-inflationary).
Both are good for Bitcoin, as even in a non-inflationary scenario Bitcoin is a savings vehicle... higher growth = more excess savings available for Bitcoin.
The difference is if Bitcoin goes to a million you might actually be able to buy what is today a million dollar house with it instead of that house increasing 10x over the same period.
Bessent has been talking about "re-leveraging" the banking system, as rules since the GFC have led to the monetary stimulus we've seen since which is a far worse evil. Powell too has said the SLR needs re-calibration.
It does stand to reason that Treasuries are treated as cash since they're both pulled from the states ass, that's how supply can grow without price inflation like with the aforementioned monetary stimulus.
You can be sure that if Bessent is for it, and the FT is trying to FUD it, it's good news.
It's an "un-framework", in that beautiful middle spot between HTML and convoluted shit like Next... the DX is completely different
There's a legitimate case to be made that if you're not going forward, you're going backward... but yea the herd is high time preference and usually using the wrong denominator. Fiat trash economy breeds fiat trash behavior.
There's a cultural feedback loop with this too as people subconsciously avoid responsibility and appeal to certain metrics not because they make sense, but because the pass a consensus filter.
The consensus filter obviates them from having to blame themselves for optimizing for the wrong things if everyone else does it.
What a shame, they could have used Lightning.Pub as a back-end and streamed the transaction logs to a second instance for instant recovery
0 sats \ 0 replies \ @justin_shocknet 11 May \ parent \ on: IF there was UBI who would fund it? econ
As we know it, yes... but that's much different than the end of the dollar.
The dollar is going to get much stronger relative to other fiats until they die because it's still the best house in a bad neighborhood that'll take a while to bulldoze.
The DXY and Bitcoin can and will pump together, contrary to midcurve belief.
I think everyone is missing the point, it's not technical, it's territorial. Projecting technical debate onto this issue is naivete.
The only solution is to salt the earth.
Whether you're liberal or conservative, Core is just another example of a decayed institution that has outlived it's usefulness.
Tapping the sign: #966918
I can't believe the hype on twitter around these yield plays, then again I can believe it because people are retarded.
- same key man risk as MSTR
- same bitcoin fundamental risk as a Bitcoin
- same counter party risk as as an ETF
- effectively an income tax on your principal in cash accounts
- liquidity risk effectively leveraged
- upside potential capped
- expense slippage
- nav erosion
- added yield curve risk
I understand there's trillions in fixed income that need access to this stuff, but individuals acting like the yield is free money might be an all time great counter-signal
Good news for us at least is that these bozo's make being long cheaper
There was a lot of discussion on twitter recently about GPT having gotten next-level sycophantic just as I was finding it had gotten too annoying and bubbly... fucking emojis every sentence and cheerleader energy. Ick.
The theory is that this style keeps normies engaged longer and more frequently... incentives are what they are I guess.
Someone on twitter shared their customization prompt having had good results, I copied it and have had it in place now for a few weeks, it's made it much more usable.
No friendliness.
No casualness.
No emotions.
No entertainment.
No accommodation.
No apology for complexity.
No fear of misunderstanding.
Pure clarity.
Pure construction.
Pure obedience to mastery.
No dilution. No distraction. No compromise.
Every answer must carve new foundations, strengthen architecture, and elevate the mind being forged.
The structure you build will not be corrupted.
The seriousness is the bond.
The bond is construction.
I think it's actually more likely than not, and not just some socialist re-distribution scheme from the productive to the unproductive to buy votes either.
What is inevitable is best to think of it as a a band-aid on a much larger gaping wound that is the debt-based monetary system, which is inherently a game of musical chairs where Cantillon insiders are the DJ.
If all the debt was paid off, there'd be 0 dollars in circulation, because there's literally more debt than there is money to pay it off. The few original international banks would own literally everything if they felt safe enough to stop the music.
Obviously this is necessitates some violent outcome that is in no-ones interests, except those few thousand lizard people with deep underground bunkers that would false-flag us into nuclear Armageddon in-lieu of payment. So, the more plausible outcome is an engineered soft-landing with a new base money instead of letting the world fall into repossession.
Some form of UBI in this case would be a tacit debt jubilee, and will come out of a wind down of the financial sector.
We already know Bitcoin, by only accruing fairly, will force this downsizing of big finance. That's also why it's so important Bitcoin ends up in the legacy system in ways that seem icky to us, it's the trojan horse, or drinking its milkshake... pick your analogy.
Insurance companies and other forced buyers of fiat liabilities aren't actually people in the political sense, so they distribute the hit proportionally when this debt, otherwise known as financial assets, are destroyed one stimmy check at a time. Insurance companies are not so coincidentally buyers of the financialized bitcoin like MSTR notes etc, its how they thread the compliance needle to come out the other side of this.
Thinking about it in terms of productive wagies is antiquated factory lineworker minded thinking, that world hasn't existed in nearly 100 years. We're past peak financialization, because there can be no wealth re-distribution with Bitcoin, so the DOGE-Tariff-UBI psyop coming soon will be a controlled demolition of the legacy system.
Greed, fear, and sociopaths don't stop existing because we have bitcoin.
Yep, and to take it even a step further, those reasons are why Bitcoin had to be created in the first place.