Wife is outside doing her annual spring flower planting patio ritual. I’m beer braising some @kandccattle short ribs to have during UFC tonight. What’s a better Saturday?
Bitcoin teaches you that you *can* be right. You *can* understand significant things that others don’t. You *can* view the world through a lens of first principles and you *will* reap the rewards.
This is also the source of BDS. Stay humble.
Worth keeping in mind so you have some context about how much money is being tossed around:
One billion seconds is roughly 31.5 years. One trillion seconds is equal to about 31,710 years.
Seems like Tether should hedge a bit and convert some small, portion of their treasury to bitcoin and make it public. Something like 10% ($7.5B) as insurance against banking shenanigans which are certain to increase. They’re probably 10% over collateralized already anyway.
A European bank has under water treasuries. Fed accepts them at par and gives them dollars which they either lend or hand out when deposits are redeemed. This “swap line” lets Banks and foreign governments hold USTs with zero downside (nominal) risk, insuring US debt demand.
my fam is out of town so i’m watching John Wick really loud 😂. loud action movies and little kids are so rare. he has a Kimber that looks an awful lot like this one in #3
just got a delivery from K&C beef. i wish Parker was on nostr so i could thank him for orange pilling all the ranchers. huge quality of life improvement for me.
The point of the BTFP program is to insulate banks from under water bonds so that the Fed can keep hiking. Not only that but, this will increase bank demand for qualifying debt like USTs and MBSs which is exactly what they want. IMO, stuff needs to get worse for hikes to halt.
There are less than 60,000 blocks, or about 1 year, until the next bitcoin halving event. Today, 6.25 bitcoin are produced each block, or about 900 per day. After the halving event, only 450 bitcoin will be produced per day.
How many US banks will still exist in 1 year?