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Latebitcoiner
latebitcoiner@primal.net
npub1s3my...7f43
Ready to learn, always
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latebitcoiner 3 months ago
Charlie Kirk got shot today. I may get cancelled for this, but if you believe ANYONE deserves to get shot for TALKING you're a crazy person. I don't care what they're saying.
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latebitcoiner 3 months ago
Thought for the day if you are a business owner. What are we more satisfied with? Creating more money, or creating MORE better humans? I like the second one.
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latebitcoiner 4 months ago
I've been trying like crazy to get my enterprise (a large personal lines insurance carrier in the US) to pay attention to Bitcoin since 2021. This year I've actually started to make a tiny amount of progress. The biggest problem is the National Association of Insurance Commissioners (NAIC) has clarified that directly held Bitcoin doesn't meet the definition of cash or admitted assets under statutory accounting principles. We need this changed. Maybe someone at the Bitcoin Policy Institute has an idea of how to try and change this. Can anyone help me with this?
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latebitcoiner 7 months ago
Bilal Bin Saqib, Minister of State for Blockchain and Crypto in Pakistan just announced they have started a Bitcoin strategic reserve. Pakistan's avg. age is 23 and they have 250 million people. Huge news.
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latebitcoiner 8 months ago
Lewis sums up Bitcoin friendship perfectly. "Friendship is born at that moment when one person says to another, 'What??!! You too? I thought I was the only one?" CS Lewis. My favorite thing about Bitcoin is how it builds relationships. Running my meetup is the coolest thing I've ever done. People are insane, smart, funny, clueless, brilliant, kind, loving, heartless, and just downright amazing. I would have never had the opportunity to meet some of those people without Bitcoin. Thank you Satoshi.
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latebitcoiner 9 months ago
I just asked chatgpt to calculate the CAGR of gold since 1935, and it was 7.86%. I asked the same thing about the S&P500. It was 8.79%. About 1% different. So basically, the technology that we've developed over the last 90 years is worth 1% a year. That is absolute BS that humans have done that to the world. Crazy town. So you're telling me that personal computers, modern medicine, etc. are only worth 1%? It's terrible what we've done to value.
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latebitcoiner 9 months ago
I gave a Bitcoin presentation to my Rotary club on Tuesday. I used www.wtfhappenedin1971.com and then attempted to explain hard money, and then the BTC protocol. Avg. age was 55 years old in the room. I had everyone locked in through Nixon, then lost the room during the protocol explanation, lol. I think I got about 5 people out of 50 thinking, all of them asked questions at the end, and downloaded River or Strike on their phone I found out later yesterday. 10% return in life is great, why am I pissed about it during orange pilling?
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latebitcoiner 9 months ago
Michael Saylor says it best, with a dash of me. In the future there will be 4 Different Asset Taxonomy. A Digital Commodity: an asset WITHOUT an issuer, backed by digital power like Bitcoin. A Digital Currency: an asset WITH an issuer, like a stable coin backed by a fiat currency equivalent. A Digital Security: an asset WITH an issuer backed by a stock or a bond to tokenize Wall Street. A Digital Token: an asset WITH an issuer that is backed by a digital utility, like a power company token.
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latebitcoiner 10 months ago
I just watched What Bitcoin Did with @preston. Preston was explaining Bitcoin backed bonds. The key management is what I dont get. If I by a Bitcoin backed bond and I want to trade it. How are the keys being traded along with the bond on an OTC desk. Lets say I work at a major insurance company and I manage our 50 billion to pay claims. Would the custodian or broker dealer just keep the keys and push them along with the paper? Would I have to burn my keys somehow when I get USD for the Bitcoin backed bond that I just sold? How would that work?
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latebitcoiner 10 months ago
If ONE more client talks to me about XRP....... I......... I will smash something. image
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latebitcoiner 10 months ago
I've been thinking about how to get life insurance involved in Bitcoin. I've got the actuarial table figured out, and the cost in USD. The question is, how do you provide a Bitcoin life insurance policy payout in terms of premium? Do you collect premium and buy Bitcoin along the way and have reinsurance fund the remainder? You'd have to start with a pool of Bitcoin as capital to fund the contracts. How would you do it?
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latebitcoiner 10 months ago
I spent 3 hours trying to hook a wallet to my mynode node at home. I still don't understand anything I did, lol.