a bitcoin cognitive dissonance:
when you need to buy it you want the price to go down and you bought it because the price went up
drew
npub12jg2...gkmx
bitcoin
former @krakenfx @deutschebank treasury, global markets, and cash management
Notes (6)
optimistic on what nostr:nprofile1qythwumn8ghj7ct5d3shxtnwdaehgu3wd3skuep0qythwumn8ghj7cnfw33k76twv4ezuum0vd5kzmp0qqsz4uq7p44arw0mh83agv2h6ezep7e8mnau403g0p99svhp00hms7c8stxdn Rails model could become at scale
a type of prefunded shared liquidity usage from actual economic activity, not based on derivatives or structured debt products that create synthetic yield
Bitcoin itself is a built in Treasury Management System that is truly differentiated from these so called Bitcoin Treasury Companies
New York, I love you, but you’re bringing me down…
hallelujah anyway 🙏
https://youtu.be/hvZh6R2md1c
thought provoking piece, I think a new parallel gross and net settlement network will form with main chain lightning, ecash and hopefully a temporary bridge with fiat through atomic swaps as theorized
with regard to VISA and other card networks its important to note these entities take on enormous risk of consumer charge back protections justifying some costs however in my experience with the interchange fees they are exorbitant to pass onto consumers and represent real need for improvement in the system, lightning and ecash pro probably contain a more elegant and cheaper solution
most global capital flows in trade, FDI, securities settlement, payroll etc still operate on central bank clearing, cross boarder and local paymen systems. We need to reimagine ways to bring these high value (non-consumer) flows into Bitcoin settlement systems
stable coins have had one critical function though at least historically - arbitraging the Bitcoin price between exchanges globally, avoiding SWIFT rails
this concept of "sable balances" is an interesting fait-less way of handling settlement too and could been round about way avoiding the banking cartels