TIL: Nasdaq-100 is a stock index that holds the top 100 non-financial companies listed on Nasdaq. This index is tracked by many passive index funds, notably mega-ETF QQQ. Being in this list is a big deal for a publicly traded company, as it means that lots of funds will be buying their shares irrespective of price/PE/opinion, because they have to own what's in the index. The index is reassessed periodically (quarterly?) for who belongs and who doesn't, and they have 3 substitutions this month. In: Microstrategy, Palantir, and Axon Enterprise Most of you are familiar with MSTR. Palantir sells spyware, and Axon is a tech/weapons company whose best seller is the Taser. Out: Illumina, Super Micro Computer, and Moderna. Illumina develops genetic research products, SMCI makes AI hardware, and Moderna was one of two companies who brought COVID vaccines to market. I'm getting a kick out of this info, for reasons I can't quite articulate.

Roger is attempting to give himself the credibility he had in 2015, and totally ignoring that he was one of the architects of the bcash mess. He owns bitcoin dot com, and in 2017 started hawking bcash as if it were bitcoin. To this day, people are misled by this. The market speaks for itself regarding its value vs bitcoin, and anyone who was persuaded or misled by Roger has far less bitcoin now because of it. He was big on yelling "censorship" in the 2016-2017 days. The r/bitcoin subreddit was where a lot of the discussions were happening, the admins of r/bitcoin didn't permit shitcoinery in their subreddit, and they considered implementations of bitcoin that weren't in consensus with the network to be shitcoins. Before there was bcash, there was bitcoin unlimited. Before BU, there was bitcoin classic. Ver promoted them all. To say those in consensus (small blockers, if you like) censor big blockers (those that mine blocks greater than 1mb pre-segwit, 4m weight units now) is same as saying they're censoring txns that spend coins they don't have, sign for utxos they don't have the private keys for, or pay themselves 1000 btc in the coinbase txn. He's calling being out of consensus "censorship." Bcashers spun up r/btc to have the discussions they wanted to have. Confusingly, the ticker for bitcoin is BTC, and bcash is BCH, or BCC on finex I think. I was having a conversation with a precoiner this year who was on the cusp of becoming a newcoiner, and based on some of what he said, it was clear he's been misled by bcash rhetoric. Such a costly DDOS.

Recent text to a newcoiner, who brought up price action to me recently: Thought regarding BTC price action...once people get off zero (taking one's assets from 0% BTC to some small amount), the daily/hourly price can be mesmerizing, but it can make people do dumb things, like buying high and selling low. Human psychology often makes us do stupid things when it comes to trading...some of the best performing accounts at traditional brokerages belong to clients who've been dead for years, because they're not moving things around in their portfolio, tripping themselves up. We see the hourly and daily moves in the price...that's like waves at the beach. The trend, however, is like the tide. And the tide's coming in.

A thought about framing...$100,000 sounds expensive...2.4x median US income. Another way to frame it is in the context of $900T of global assets. That number is ofc kind of augmented d/t all kinds of BS debt shenanigans, however it's a reference point. Current BTC market cap...$2T Current global assets...$900T BTC currently makes up 0.22% of global assets. Gold is about 9x that (~2%). Is it reasonable for BTC value to reach that of gold, 2% of global assets? 5%? 10%?

Fun fact...inflation doesn't just happen naturally. It oscillated around zero throughout most American history.

Mallers on "Too Late to Bitcoin" • Clip by @lonelypumpkins • Listen on Fountain

a profound and eloquent 3 minutes from @jack mallers as heard on @BTC Sessions last week. "Don't compare yourself to other people. Decisions are made at the margin. You wake up every day, you contribute value to the people around you. You gotta put that value somewhere. Bitcoin's the best place to put that value, period...It's been the correct answer for the last 15 years, it'll be the correct answer for the next 1500 years."

Just leaked...behind the scenes footage of FOMC setting the price of Bison Dollars today

if one owns a Chuck-E-Cheese, it puts one in a great position denominating one's debts in Chuck-E-Cheese tokens