The securities law does not regard any asset in an of itself a security. Rather it is the process of offering & “circumstances surrounding the sale” that determines a security. The notion that XRP is declared not a security is disingenuous and ridiculous. Their programmatic retail offer was not found a security as it occurred on an exchange (out of their hands). YET they were found violating the securities law in the institutional sale - the most important part of the ruling that the XRP shills won’t discuss to dupe retail buyers one more time.
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Dedollarization update: the BRICS dollar-killer remains elusive
The only money that can replace the dollar or take significant share from it is one that is both neutral and globally salable (liquid)
That disqualifies the Yuan, Rupee, Rubles, or any other fiat
The technology to do this has been invented as of 2009 and it’s been growing ever since. #Bitcoin
The only money that can replace the dollar or take significant share from it is one that is both neutral and globally salable (liquid)
That disqualifies the Yuan, Rupee, Rubles, or any other fiat
The technology to do this has been invented as of 2009 and it’s been growing ever since. #Bitcoin
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“All models are wrong, but some are useful” is being fallaciously used recently to justify PlanB’s invalid model and its glaring prediction errors (e.g., 73% persistent multi-year error which btw he thinks is low). PlanB’s model has been an IQ test for the Bitcoin community and many have failed.
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New Home Sales decrease to 697,000 Annual Rate in June.
Median sales price also down to $415,400. A 2nd order polynomial regression highlights the incredible post-pandemic pump and a ways to go.
The sales count figure had surprised to the upside last month at 763K which was revised down to 715K. Recently, the recent trend in government data has been report-high-then-revise-down.
Median sales price also down to $415,400. A 2nd order polynomial regression highlights the incredible post-pandemic pump and a ways to go.
The sales count figure had surprised to the upside last month at 763K which was revised down to 715K. Recently, the recent trend in government data has been report-high-then-revise-down.
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The PlanB effect:
"I was convinced that Bitcoin would go to $100k. Now my Bitcoin is only worth $250k and I'm left with a $500k mortgage to pay again. It's causing great stress to me and my wife. We have no other assets beside this house."
Stack sats and stay humble. Pro tip: bit-fluencors are just winging it.
"I was convinced that Bitcoin would go to $100k. Now my Bitcoin is only worth $250k and I'm left with a $500k mortgage to pay again. It's causing great stress to me and my wife. We have no other assets beside this house."
Stack sats and stay humble. Pro tip: bit-fluencors are just winging it.
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New Substack Article
Ark: Bitcoin's New L2 Protocol
Non-custodial, scalable, private payments with minimal on-chain footprint and automatic coinjoins. A visualized accessible explainer. Both a high-level intro and a deep dive. By:@Sinz_Bitguide & @4moonsettler
A summary thread: https://twitter.com/Sinz_Bitguide/status/1687182908493094912
Full article: https://bitguide.substack.com/p/ark-bitcoins-new-layer-2-protocol
Please help us distro the article; RT, like & share.
Ark: Bitcoin's New L2 Protocol
Non-custodial, scalable, private payments with minimal on-chain footprint and automatic coinjoins. A visualized accessible explainer. Both a high-level intro and a deep dive. By:@Sinz_Bitguide & @4moonsettler
A summary thread: https://twitter.com/Sinz_Bitguide/status/1687182908493094912
Full article: https://bitguide.substack.com/p/ark-bitcoins-new-layer-2-protocol
Please help us distro the article; RT, like & share.
Bitguide’s Substack
Ark: Bitcoin's New Layer 2 Protocol
An accessible explainer
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Interesting search engine for technical Bitcoin research. It pulls information from Bitcoin/Lightning Dev mailing lists, Bitcoin Talk, Stack Exchange, etc.
https://bitcoinsearch.xyz/
There is also a chatbot available: https://chat.bitcoinsearch.xyz/
https://bitcoinsearch.xyz/
There is also a chatbot available: https://chat.bitcoinsearch.xyz/
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Bitguide
Two reports from BoA 1- investors’ exodus from tech with 3B a week. 2- Exports from Asia (China, Korea, Taiwan, Japan) are negative yoy indicating a sharp slowdown in the world economy. #2 should accelerate #1
Global slow down continues
China’s exports dropped 14.5 percent in July from the same point last year, the biggest decline since the COVID crash. Imports also fell 12.3 percent in the same period.
China’s exports dropped 14.5 percent in July from the same point last year, the biggest decline since the COVID crash. Imports also fell 12.3 percent in the same period.
CPI rises a mediocre 0.2% MoM (eq. to ~2.5% annualized). In the last 3 months the growth has been 3.1% annualized. YoY 3.2%.
Core CPI also 0.2% MoM and 4.7% YoY.
Core CPI also 0.2% MoM and 4.7% YoY.
Michael Burry did NOT short the market by $1.6B
1. He did NOT do it “now”. The filing reports on the previous quarter between April and July.
2. He is NOT “shorting” rather hedging his long portfolio. He has about a $100M of longs. And has bought S&P and Nasdaq puts to hedge his delta, lock in profits, and protect against a downturn. The figure shows his portfolio.
3. He did NOT pay $1.6B. This is just the notional value of the options. We don’t know the strike price or the duration to infer how much he paid.
But assume the puts are for three month into the future and strike price of 25% lower than today (a market crash). As shown in the figure this put will cost $1 (Nov30 puts on SPDR S&P500 at strike $350) or 0.3% of the notional price. In other words, Burry could have paid only $5M for all these puts to hedge a $100M long portfolio. In reality could be more or less. We just don’t know.
1. He did NOT do it “now”. The filing reports on the previous quarter between April and July.
2. He is NOT “shorting” rather hedging his long portfolio. He has about a $100M of longs. And has bought S&P and Nasdaq puts to hedge his delta, lock in profits, and protect against a downturn. The figure shows his portfolio.
3. He did NOT pay $1.6B. This is just the notional value of the options. We don’t know the strike price or the duration to infer how much he paid.
But assume the puts are for three month into the future and strike price of 25% lower than today (a market crash). As shown in the figure this put will cost $1 (Nov30 puts on SPDR S&P500 at strike $350) or 0.3% of the notional price. In other words, Burry could have paid only $5M for all these puts to hedge a $100M long portfolio. In reality could be more or less. We just don’t know.
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