GM. The Bitcoin Takeover is officially underway with #[0] cooking all the meats while we overlooked the bitcoin capitol. SXSW is so dorky in comparison.
There is nothing that Silvergate or Signature did with bitcoin that got them into any balance sheet or regulatory trouble. Only the Fed pushing garbage on them and shitcoining did. Who’s the only constituency that tells the truth about shitcoiners and the Fed?
Operation chokepoint and the deliberate targeting of Silvergate and Signature is a gross abuse by Treasury, but it wouldn’t have worked if those banks didn’t shitcoin. There are consequences to doing business with shitcoiners like FTX, Celsius, BlockFi etc… Sad week.
Silvergate and Signature were not an accident. They’re popping champagne at treasury tonight over that coordinated effort. SVB was a mistake, hence the bailout.
Excellent line of questioning and logic from #[0] . Insane marxists who think they can stack rank what should and shouldn’t consume electricity can’t stand up to the most basic scrutiny.
On Feb 24th, 1836 William Travis wrote for reinforcements as the Alamo came under siege. On March 6th, the Mexicans broke through. Knowing the end of this story, his letter gives me chills.
Remember the Alamo!
There is a price to pay for shitcoining and dealing with shitcoin companies. We’d like to think reputation would be enough, but it’s not. It takes insolvency and absolute ruin, which is guaranteed.