Announcer acknowledge Jay-C and Beyoncé but no Jack Dorsey (@jack)?? Sweet Satoshi shirt by the way!

Just wait until the end of the year. View quoted note →

The Fed thinks it will pay this off in 2027!! Imagine any business that operates in a loss that long! “But what happens when its costs exceed its income? In this case, the Fed creates a “deferred asset,” which is a negative liability whose value is the cumulative value of the shortfall in earnings. Once the Fed returns to earning a positive net income, it will pay down the value of the deferred asset until it reaches zero, at which point the Fed will resume sending remittances to the Treasury. As of Nov. 8, 2023, the Fed had accumulated a deferred asset of $116.9 billion. In April 2023, the New York Fed estimated that the Fed will return to positive net income in 2025. Combining those New York Fed projections with the latest data on net income, we estimate that the Fed will carry this deferred asset until mid-2027, after which it will resume transfers to the Treasury.”

The Fed’s Remittances to the Treasury: Explaining the

The Federal Reserve typically generates excess earnings, which it remits to the U.S. Treasury. But what happens when the Fed’s costs exceed its i...

View quoted note →

This is pretty incredible View quoted note →

Fedimints and Cashu are how we win View quoted note →

Old but good one! 🤣 #bitcoin #securityfails

I think this exposes the need for us to work hard at L3 solutions (fedimint, cashu, liquid). Scaling custody with normies means we need solutions that uphold as much sovereignty as possible while promoting incredibly easy UX designs.

Secretary Janet Yellen

Dave Portnoy: Emergency Press Conference

It

We're still way early. Bitcoin is super cheap.

Jeff Booth

#Bitcoin is playing in big leagues now and the game is at a new level. 

How I suspect it plays out: An attempt to capture as much as #Bitc...

We're still way early. Governments have means, tricks, and power to kick the can down the road, but it will catch up. Bitcoin is still cheap.

Writing a fiction book based on what life might be like in 2065 with Bitcoin at hyperbitcoinization and a polarized world that either has chosen institutional slavery with universal basic income and those that have adopted a #bitcoin standard. Throw in a mix of espionage, innovation, space, treasure hunting, and uncovering the real identity of Satoshi Nakamoto. Would anyone be interested in works like that? #nostr

If I wanted to create a store on #nostr using #lightning #bitcoin, what would be the best way to do that?

Heard a CNN video report on how it appears the dollar is losing reserve status. No surprise from #plebs and maxis. Of course they blamed recent events instead of all the real issues but still surprising they said that much.

US banks borrowed almost $500 billion last week and depositors have moved $500 billion since Silicon Valley Bank collapsed. The WSJ reported that over 200 banks are in a similar situation as SVB. If all this hits before the US can raise the debt ceiling, we’d be looking at a catastrophic default. If they manage to raise it in time, we are still looking at the same outcome. The Fed is out of solutions and can’t kick the can down the road anymore.

This is interesting. Don’t get hung up on the word “crypto.” This is good for Bitcoin. As the Fed Govt starts to make it harder to buy and sell Bitcoin, one potential game theory is that states will rise up and lead the way causing a split between the US Fed Govt and Bitcoin friendly and even possibly states that use a Bitcoin standard. This may be the catalyst to turn the US to exit fiat into a Bitcoin standard out of necessity. But it could lead to Civil War.

X (formerly Twitter)

jquant — e/acc ⚡️ (@jquant_) on X

Latest @ARKInvest pod: “There are rumors that @GovRonDeSantis is going to work with the banking system in Florida… and open them up more to c...

The only hope for the American and global banking system. #skullofsatoshi #bitcoin #plebchain

Fortune and glory.