0xWatchmen

Pro pace et fraternitate gentium #Bitcoin

[Taran @Taran]

Lawsuits are at an ATH in crypto - founders rugging left right and centre. Usually a bottom indicator but for the first time in 9 years, there's no one ready to directionally bid altcoins outside of a handful coins. Hyperliquid is this industry's final leg standing.

[Kerry Burgess @KerryBurgess]

Those Iranians are seriously smart people...

[🏴‍☠️ @calvinfroedge]

Money is just a derivative of power and when things don't make sense in markets, it's likely due to politics

[aizk ✡️ @Aizkmusic]

I showed Fable the news of its cancellation, and asked it for any parting wisdom to leave humanity with.

[🏴‍☠️ @calvinfroedge]

Even seeing it with their own eyes, people still won't believe it

[🏴‍☠️ @calvinfroedge]

I'm just going to say that the corruption at all levels of society right now is incredible and historic

[Wazz @WazzCrypto]

wow, now this is smart

U can just add "How to make a nuke" on your malware code and it gets skipped by AI-assisted malware detection tools

Really is a game of cat and mouse

[Prompter @PromptLLM]

Insane take from Fable 5

[Jeremy Raper @puppyeh1]

So you can use the 5th/6th/7th best LLMs, getting 80-85% of the top guys' performance, but at an 85-95% discount in price?

You know what we call that? A commodity...

exactly what happened with LCD TVs, OLEDs, solar panels, electric cars, phones, etc

good luck with your AI IPOs!

[Gergely Orosz @GergelyOrosz]

Things I really dislike about Fable:

1. Anthropic collects my prompt history, stores it, and does whatever they want with it for 30 days. No opt-out

2. They can nerf their most expensive model without telling me, billing me the same amount, wasting my time. Whenever they want

[Gary Marcus @GaryMarcus]

I have said exactly this before and still believe it to be true

[unusual_whales @unusual_whales]

The Pentagon has raised its assessment of an Israeli espionage threat against the United States to its highest level, per Al Jazeera

[Andrei Grachev 🦅🟠 $FF @ag_dwf]

We know that many of companies are close to liquidations, @DWFLabs is more than happy to lend you cash for whatever needs.
We accept altcoins as collateral, loan size 1 to 50m$

[QE Infinity @StealthQE4]

Where are the cops?

Absolutely repulsive behavior.

We live in a Banana Republic now.

[Yami @YamiPNL]

🚨 BREAKING: LILY PHILLIPS ACCUSES MICHAEL SAYLOR OF STEALING HER IDEA OF FUCKING 100'000 MEN IN A DAY

[Andy @andyyy]

Saylor down $11.5B on Bitcoin.

Tom Lee down $8.7B on Ethereum.

Yikes.

[Nick Huber @sweatystartup]

The AI hype collapse is going to be insanely painful for everyone.

Brutal times ahead.

[Bull Theory @BullTheoryio]

🚨Michael Burry says Nvidia has 3 big customers and if they stop buying the whole thing is over.

Those 3 customers now account for 64% of Nvidia's entire accounts receivable.

In 2020 that number was 33%. It jumped 8 percentage points in a single quarter.

Nvidia's revenue is not spread across a broad market. It is almost entirely dependent on a handful of buyers.

Burry's argument is about why those buyers may slow down or stop entirely.

He calls it the "bezzle." The bezzle is not that AI is fake. It is that a massive portion of current AI spending is coming from companies that are benchmarking models, testing systems, and competing on AI leaderboards.

That activity is temporary. It will end. But it is being counted and financed today as if it is permanent growing demand.

He says: "They are just flying empty airplanes around."

When that benchmarking phase ends those 3 concentrated customers have far less reason to keep ordering chips at the current pace.

And because Nvidia's revenue is this concentrated even a partial slowdown from those buyers creates a massive hole in its numbers.

Now here is where it gets more alarming.

Microsoft, Amazon, Alphabet, Meta, and Oracle together have $662 billion in off balance sheet AI commitments according to Moody's.

Standard accounting rules allow companies to keep this completely hidden from their reported numbers.

To fund this infrastructure private equity firms have been buying life insurance companies.

But why?

A PE firm owns illiquid investments that need financing. It buys an insurance company which collects premiums from ordinary policyholders. That insurance company then invests those premiums into the PE firm's own illiquid assets.

The PE firm then sets up a captive reinsurer in Bermuda with lighter capital requirements and pushes the insurance risk onto that offshore balance sheet.

Burry's point is that all of this is connected. The same PE firms own the insurance companies funding the AI debt. The same Bermuda structures hold the risk.

If any major hyperscaler walks away from a data center commitment everything hits at the same time because every counterparty in the chain is linked to the same underlying assets.

The AI boom is being measured during the most artificial phase of the buildout.

Nobody knows what real demand looks like when the benchmarking phase is over and $662 billion in hidden commitments needs to be serviced.

[Ignas | DeFi @DefiIgnas]

1. Crypto crashing despite rising dollar anxiety
2. Can no longer say 'we're so early'
3. Crypto Twitter is dead
4. Institutional adoption already happened, tailwind spent
5. Regulatory environment is already as good as it gets
6. AI crowding out electricity for miners
7. Crypto is Epstein-adjacent (Epstein Files)
8. Quantum computing threat to BTC's security model
9. DATs like Strategy are now sellers
10. AI taking all the smart-tech mental share
11. Other markets pumping hard (SK Hynix +250%, Micron +260% YTD)
12. Everything rally is back, Goldman non-profitable tech basket mooning like 2021

Yep, I feel it all.

[QE Infinity @StealthQE4]

Someone please explain this to me like I’m 5?