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Control-Plane Capital
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Software engineer turned investor.
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buckyfonds 3 days ago
How Central Banks deliberately cause crises and inflation Central Banks under-inject liquidity by however much they want, whenever they want, to rug-pull whoever they want and bail out whoever they want. View article →
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buckyfonds 4 days ago
If I ever wonder what the government's opinion on something is I go to Elon Musk's twitter page and use the search function. As I wrote in this article ( ) in which I gave Quantum Computing as an example: "If you want to know what the government wants to sell you, look no further than Elon Musk. From fake climate change, to fake space, to DARPA chips in your brain, to social scoring via Twitter, to turning your car off, he’s got them covered." Of course, you disregard the republicrat vs demopublican theater, the Fort Knox gold audit, how Palantir/xAI/OpenAI used doge to take everyone's data and bailed on "government efficiency", etc. Elon Musk is very similar to the young saleswomen that Purdue Pharma used to get doctors to kill their patients with OxyContin. He might just be the best salesman of all time. He can go to a party in a "New World Order" costume, lie about being elite at games, build social scoring via Twitter, be seemingly very low IQ, and the plebs will still love him. The actual best actors in the world are not the ones you see in Hollywood productions. They are Musk, Trump, Alex Jones, etc.
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buckyfonds 4 days ago
Very interesting post from a guy named Bob Kendall on twitter. ( ) First the TL;DR of his tweet: * Bitcoin price discovery shifted from onchain supply to synthetic float * Financial derivatives created a theoretically infinite supply of Bitcoin * Synthetic manufacturing of supply eliminated asset scarcity * Institutions use paper inventory to manipulate price movements * Bitcoin now functions as a fractional reserve price system And here is Bob Kendall's original tweet: So here’s the issue you get influencers like this guy have a quarter million followers and they claim they don’t know why it is declining… it’s because they don’t understand basic mechanics of price discovery. They don’t understand that the marginal buyers or the float determines price they think the onchain bitcoin is that is the price discovery Well, it was once upon a time but now.. Once you can synthetically manufacture the supply, the asset is no longer scarce and once scarcity is gone, price becomes a derivatives game, not a supply-and-demand market. This is exactly what has happened to Bitcoin. This is the same structural break that occurred in gold, silver, oil, and eventually equities once they became derivatives-dominated. The original premise that no longer exists Bitcoin’s entire valuation logic was built on finite supply (21M) and inability to be rehypothecated. That died the moment: •Cash-settled futures •Perpetual swaps •Options •ETFs •Prime broker lending •Wrapped BTC •Total return swaps were layered on top of the chain. From that moment forward: Bitcoin supply became theoretically infinite. Not on-chain in price discovery. The metric that explains the collapse Synthetic Float Ratio (SFR) Once you can synthetically manufacture the supply, the asset is no longer scarce — and once scarcity is gone, price becomes a derivatives game, not a supply-and-demand market. That is exactly what has happened to Bitcoin. This is the same structural break that occurred in gold, silver, oil, and eventually equities once they became derivatives-dominated. Why Wall Street can now “trade against” Bitcoin They do exactly what they’ve done in every commodity market: 1.Create unlimited paper BTC 2.Short into rallies 3.Force liquidations 4.Cover lower 5.Repeat They are not “betting” — they are manufacturing inventory. The same 1 BTC can now support: •An ETF unit •A futures contract •A perpetual swap •An options delta •A broker loan •A structured note All at once. That is six claims on one coin. That is not a market. That is a fractional reserve price system. ---------------------------------------------- I have written about this in my "Why Bitcoin's 21M cap is not guaranteed (Paper Bitcoin)" article: - Even though I'm not very bullish on Bitcoin's fiat price short-term, I am starting to DCA into self-custody at these prices because something with the financial system seems very off. I'd rather take a drawdown on an asset I own than get bailed-in and get wrecked.
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buckyfonds 5 days ago
The way gold is trading, it seems the financial system is failing. Might be smart to hold assets in self-custody, not in brokerage accounts.
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buckyfonds 1 week ago
One thing that was interesting about this last Bitcoin cycle was that degens were almost never allowed to significantly lever up. Once levered longs started forming, they almost instantly got drop-kicked by 5 market makers. In previous bull runs, degens levering up caused the blow off tops. This is to be expected in the post-ETF era, but I didn't expect it to be as aggressive. Pre-ETF: 20–100× perps → vertical melt-ups → liquidation cascades. Post-ETF: basis carry (long ETF/spot, short futures) + dealer options + marginable ETF → bigger notional, lower directional beta. - Upside: capped by call walls / long-gamma dealers. - Downside: cushioned by basis unwind, dealer buying, AP/NAV arb. Probably also has to do with how CZ, Brian Armstrong and the other big boys are in bed with the government. Some of the big players might have been given the green light to stop-loss hunt more aggressively.
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buckyfonds 1 week ago
What are the odds that Jeffrey Epstein is sitting somewhere on an island enjoying all this attention he's been getting? Probably higher than the odds of him having killed himself.
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buckyfonds 1 week ago
The Bitcoin or Gold psyop is silly and the debaters on both sides are usually clueless. Why wouldn't you own both Bitcoin and Gold? They are both assets outside the system and have different advantages/disadvantages. To mention some of gold's advantages (because everyone here already knows about Bitcoin's advantages): (1) Physical gold has no public ledger. - No historical chain of custody anchored in a global database. - Evidence of holdings is fragmentary: vault records, invoices, eyewitnesses, maybe customs records. - Outside that, the state has suspicion, not a cryptographic audit trail. - The "omniscient ledger" simply doesn’t exist. (2) Harder to geofence at scale from a screen. - Once it is in your physical possession, there is no equivalent "app store ban" or "node-liability" lever that instantly makes it unusable for most people. (3) Gold has no "core devs", no client politics, no mempool policy. - "Protocol" = physics, metallurgy, and a scale. - There is no equivalent of a small GitHub group with agenda-setting power. - There is no "v30" for gold. No client upgrade that suddenly increases storage risk by 1200x. - Coordination burden is basically zero at the "how it works" layer. (4) No need to defend a node/mempool ecosystem. - No nodes. - No mempool. - No UTXO set to bloat. - You don't need an army of volunteer maintainers to keep "gold full nodes" defensible. - Less coordination tax, fewer sociotechnical attack surfaces. (5) Gold expropriation requires physical enforcement, not just data + policy. There is no universal gold UTXO set or "travel rule". Expropriation requires either: - Knowing where the gold is (vault, safe deposit box, storage facility). - Or house-by-house enforcement with massive manpower/legitimacy cost. In practice, enforcement tends to focus on: - Formal channels (vaults, dealers, banks). - Border crossings. - Declarations above thresholds. @Daedalus also opened my eyes to some very significant issues regarding Bitcoin hardware wallets. TL;DR - I'd imagine the government has access to the vast majority of seed phrases. From what I've researched, getting this risk to zero is extremely hard (if not impossible). It can be minimized with multi-sig, heterogeneous devices instead of trusting any single black box. Just one of the many issues are "secure" elements in which many wallets store the seed phrase. A secure element (SE) is: - Closed-source silicon + firmware - Designed and signed off by a tiny number of entities - Certified by processes you don't control (Common Criteria, labs, NDAs) - Distributed at scale into "secure" devices (wallets, phones, SIMs, payment cards) Secure elements are perfect for creating choke points where keys & identity cluster: - Centralized design - Long lifetimes - Hard to inspect physically - Wrapped in "security" narrative So if you assume a serious state-level adversary wants that lever and can get it sometimes, the right prior is: - "Treat any closed-source Secure Element as potentially backdoored if you're defending against a nation-state" That's not the same as "we know for a fact every Secure Element is backdoored". We don't. Lacking verifiable proof is exactly what makes this such an asymmetric control point. Dice-based seeds fix RNG trust, not key exfiltration. If a device ever sees the full seed, a malicious Secure Element/firmware can leak it later. The only real structural defense is collusion forcing: - Heterogeneous multi-sig (different vendors + DIY), - Multi-source entropy (XOR’d seeds), - Passphrases kept off the compromised device, - Independent stacks for different key shares. There is no neat solution that makes you "immune to NSA". The best you can do is: - Make mass, silent theft via one corporate/vended rail impossible, - Force any serious adversary into messy, noisy, manual operations if they want you specifically. A state-level actor can plausibly: - backdoor RNG/nonces, - exfil keys via signatures, - coerce vendor into "minor tweaks", - intercept shipping, - or just use host+legal leverage. (6) Gold doesn't need electricity, internet, DNS, app stores, or routers. - You can transact in a blackout. - You can pay a smuggler without any digital evidence. - You don't care about packet filtering or "crypto port" throttling. There are many more examples of where Gold has an advantage over Bitcoin. And of course, Bitcoin has many advantages over gold (teleportability, shock convexity in a specific Great Taking scenario, programmability for complex, conditional arrangements, granularity in price discovery, verifiability, etc.). That's the point, gold vs bitcoin is a stupid debate. BTC sovereignty is mathematically elegant but socially expensive and perimeter-fragile. Gold sovereignty is technologically dumb but perimeter-resilient and legally fuzzier. Both are useful, but for different failure modes of the system. The same exercise can be repeated for Bitcoin and Monero. Both have their advantages and disadvantages.
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buckyfonds 1 week ago
I recently had to increase my odds of a Great Taking (mass expropriation) event happening in the near future. One of the reasons is that consent has been massively deteriorating (which is mostly a good thing) and I think they'll use a Great Taking type event to usher in the CBDC + Digital ID era. More and more people understand how the game is played and you can see Central Banks becoming more and more cornered and hiring more "credible" actors. It's like when one of these scammers on the street (with the cups) gets exposed, they can't run the same scam in front of the same people anymore. If the Controllers rob everyone in an artificial financial system collapse, a massive cyber attack, or w/e mass crisis they pick, people won't have much of a choice but to accept their CBDC + Digital ID. This guy is the founder of Interactive Brokers and basically explains how most people lose everything in a Great Taking. I remember watching this clip a few years ago and I went to check the comments and I didn't find anyone who even reacted to what he said. Blows my fucking mind 😂. This is the owner of Interactive Brokers (almost a trillion USD under management). And of course, you also have the 2016 predictions for 2030 of the World Economic Forum with their 1st prediction of "In 2030, you'll own nothing and you'll be happy". You also have UN's agenda 2030 which is basically the same thing. To give you 1 more data point: Using Federal Reserve distribution data summarized by multiple outlets: - The top 1% by wealth hold roughly 40–45% of all U.S. corporate equities and mutual fund shares. - The top 10% hold something like 80–90%+ of all equities; one analysis of Fed data has top 10% at ~90%+ of stock and mutual-fund wealth, bottom 50% at ~1%. You don't have to rug very many people to actually execute the "Great Reset". It can easily be sold as: "protecting the many from the excesses of the few". Of course, the few will quietly be robbed via inflation, forced conversions, and taxes. You probably have noticed the push toward socialism especially with this Mandani actor (redistributing wealth from the rich to the poor to reduce "inequality"). By 2030, they want to equalize us. For more context on the Great Taking, watch David Rogers Webb's documentary:
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buckyfonds 1 week ago
Politics is completely fake and the easiest way to figure out that someone is mentally disabled is when they say they are a republican or a democrat. The republicrats and the demopublicans are equally bad and equally fake. The people you see on TV are actors. They are not the ones making the important decisions. They are the ones who sell you decisions that have already been made. And because this is a midterm year in the US, you often hear: "Trump has to juice markets to win the midterm elections." And because politics is fake, this of course is completely incorrect. In fact, Trump wants to lose House seats. In midterm years, historically, the president's party usually loses House seats and often loses control of at least one chamber. And this is useful to the system (the bosses of these actors) for multiple reasons, but I'll give you the main one. It is a blame machine & excuse generator. If the president's party keeps a big majority: - They "own" everything. - They have no one to blame when they don't deliver what the base wants (and what they've promised). - The gap between promises vs outcomes becomes too obvious. Even the biggest dummies eventually figure out that the game is rigged. When they lose seats and often lose one chamber: They can say: - "We wanted to do X, but the other side blocked us." - "We're constrained by a divided Congress." The opposition gets partial ownership of austerity, rate hikes, and "discipline". So the regime gets: - A durable excuse for why deep structural things never change. - A way to redirect anger horizontally (left vs right) instead of vertically (people vs system). Midterm losses create narrative cover. It's all fake. image
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buckyfonds 1 week ago
One thing that has been disappointing is watching how Bitcoiners react to endorsements from demons such as Larry Fink, Kevin Warsh, Howard Lutnick, Donald Trump, Scott Bessent, etc. When Kevin Warsh says "Bitcoin does not make me nervous", and that Bitcoin is not a replacement for the dollar, he really means: "Bitcoin is completely captured" and he is correct. Would Kevin Warsh and Scott Bessent say stuff like that if Bitcoin had stealth receive addresses (no address reuse) and sender-receiver coinjoin by default, and if small Bitcoin communities started popping up everywhere and abandoned the dollar? Privacy as a default (no special mode) lowers legal/UX risk for small commerce and defeats trivial chain surveillance that scares merchants. Privacy must be boring and automatic. We see clips of Bitcoiners begging Trump for tax exemption on small payments and the only way we're going to get a tax exemption is by strengthening privacy. Even if they allow for de-minimis tax, it will only be through their captured, full KYC custodians like Square. You probably won't see these demons endorse Monero. And to understand what I mean, you have to look at the Amish who mostly live outside the system. They sell/trade raw milk, honey, meat, fruits, vegetables without pesticides and antibiotics and federal agencies constantly fuck with them "for your safety" (especially the ones who manage to scale). The solutions won't come from the system, the only viable solution is for people to coordinate and stop playing a game they can never win. Are we going to be the retards who HODL themselves into the upcoming AI governance, digital ID, CBDC era from which there is no return for the masses? It certainly looks that way.
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buckyfonds 1 week ago
Listened to this David Icke interview yesterday ( ) and what he said hit hard: "When you open to consciousness beyond the program - what you tend to do is what you think is right. You don't go through this mental gymnastics of "what will people think of me, or say about me, or do about me if I say this", you say and do what you feel is right and you don't make a list of all the consequences of what you believe to be right, you just do it. If you start a list of all the consequences in this world of many things that people do that are necessary to do, you'll reach a point in the list where you'll say: "OK, I'd like to do it, I'd like to do what I know to be right but not that badly.", but if you really mean it then you just do it and whatever consequences come come, because in the end I'm out of here and I'll still be all that is, and that has been, and ever can be. I can handle that."