This is cool, well done @HesterPeirce
An amazing valid use case for NFTs is ownership of a song and its stream of royalties. Then fractionalize that NFT and you will see a new flourishing market that helps both artists and those who support them.
This is the kind of innovation that permeates when regulators aren't decel.
Bitcoin will get PRIVACY through @BTC_OS (and Midnight)!
Also DJED stablecoin can be backed with Bitcoin.
More alpha dropped by @IOHK_Charles including the new super node and bringing a Nintendo Emulator (bring your own game) to Hydra. #Cardano
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I’m 24.
I used to be stressed out of my mind and wasted years of my life making the wrong decisions.
Then I spent 100+ hours studying Charlie Munger’s letters to learn his mental models on decision making.
Here’s what I found:
Step 1: Create crypto coin
Step 2: Wash trade a few units to establish $10k/coin
Step 3: Send 1 coin to anyone to make them a felon in 15 days
(Bonus: create recipient key, send coin to it, print key and physically mail to any lawmaker with wonderful news of the donation)
Some key quotes from @HesterPeirce's 🔥🔥🔥 statement on the approval of spot Bitcoin ETFs (honestly makes me wonder if it's ever awkward in the SEC office 😂):
"Today marks the end of an unnecessary, but consequential, saga."
"For reasons I have explained many times before, the logic of the long string of denials is perplexing."
"the Commission has driven retail investors to less efficient means of attaining bitcoin exposure in the securities markets."
"until a court reminded us that our “unexplained discounting of the obvious financial and mathematical relationship between the spot and futures markets falls short of the standard for reasoned decisionmaking,”[6] we persisted in denying a spot bitcoin ETP."
"The Commission, rather than admitting error, offers a weak explanation for its change of heart."
"We squandered a decade of opportunities to do our job."
https://t.co/WoPZYrfW1O
Here’s what the mainstream doesn't want you to know about todays "blowout" jobs report
There are actually 2 different jobs reports, and they tell very different stories about the economy. 🧵👇🏼
The first one is the one that is making all the headlines: 336,000 new jobs added.
This number is calculated by looking at company payrolls. On net, companies added 336,000 combined employees. On the surface, this seems great for anyone who was looking for a job. It also seems bad for anyone who doesn’t want the fed to raise rates more. More jobs means strong economy means more inflation means higher rates.
But there is a second way that jobs are calculated, and this one surveys individuals instead of employers. It’s called the household survey. This report shows that only 89,000 jobs were added this month.
So where is the disconnect? And why are these numbers so different?
Multiple jobs.
When one person has two jobs, that looks like 2 employees when you look through the eyes of the payrolls. But it’s the same person working at two different companies. Far from a sign of a growing job market and strong economy, this is a sign of severely struggling individuals. The larger the difference between the payroll survey and the household survey, the more people are working multiple jobs.
Is there any further evidence this is happening? Yes.
Take a look at total job force participation: it is completely unchanged. All the job changes taking place are just the same employees swapping jobs. There was no net change in the total number of people working.
Further, look at full-time employment numbers. Over the last 3 months, full time employment is down 692,000. This makes the multiple jobs numbers even worse - people are working more jobs, but only part time. This means more people are going without benefits like healthcare and 401k. Struggling to pay for a rising cost of living, and fewer people contributing to retirement accounts. While it’s a small impact to markets overall, it still means less money being invested.
In summary, if you look at all the jobs data together, it suggests more people are working multiple jobs. This is a sign of struggling households, not economic strength.
Another slice and dice of data "hey look at my version of economic perversion...its working" not really an update or relevant. Your audience knows how central banking and the fed functions. And...face it...FIAT does not really work with central banking
An inflation update: in the past I've focused on a measure that excludes lagging shelter and used cars as well as food and energy. Just to note that it adds to the evidence that inflation has been largely defeated
An inflation update: in the past I've focused on a measure that excludes lagging shelter and used cars as well as food and energy. Just to note that it adds to the evidence that inflation has been largely defeated