Tacitus Phillips

practical takes on finance and technology

[Tacitus Phillips @TacitusPhillips]

A lot of people claimed @saylor and $MSTR were propping up BTC with their continual buying. Sure seems like there’s some real other demand out there.

[Tacitus Phillips @TacitusPhillips]

@ChristPilledZ @TheBTCTherapist How are you generating the private key?

[Tacitus Phillips @TacitusPhillips]

@Marcus990479633 @TheBTCTherapist But that’s the problem, right? I’m not qualified to review Electrum source code. So I just need to trust them. Or trust others that recommend them. But that’s the same impetus for this Coldcard fiasco.

[Tacitus Phillips @TacitusPhillips]

I know this father is just embracing something that his kid obviously loves. But he just has to be very careful to keep him playing a variety of sports year round or he’ll learn to start to dislike it.

[Justin Fletcher @jfletch07187p]

My guy is just showing off now! 💯

[Tacitus Phillips @TacitusPhillips]

@davidu I've always thought golf courses should just charge per hole - say $3. There are certain days where I've lost 10 balls by the 5th hole and maybe I should cut my losses!

[Tacitus Phillips @TacitusPhillips]

@CJKonstantinos @PeoplesReserve @scottmelker Let's say some bad actors tank the price of PRN with a pump and dump scheme and it loses 99% of its value. Can Peoples Reserve survive that? And what happens to my mortgage and my Bitcoin if you file bankruptcy?

[Tacitus Phillips @TacitusPhillips]

@CJKonstantinos @PeoplesReserve @scottmelker I commend you for being on the bleeding edge here, but I think a lot of us just implicitly turn the other way when we see a token involved. Just too many potential attack vectors.

[Tacitus Phillips @TacitusPhillips]

Please don’t listen to things like this. Just eat bananas. Use your head. You cannot try to over optimize in this way and stay sane.

[Dr. Rhonda Patrick @foundmyfitness]

I don't add bananas to my smoothies.

Why?

Not because bananas are bad (I love bananas). They contain polyphenol oxidase, an enzyme that can break down polyphenols. And studies suggest that when you add banana to a blueberry smoothie, you may absorb fewer of the beneficial polyphenols from the berries!

So instead, I use avocado. It gives the smoothie the same creamy texture with the bonus of monounsaturated fat in avocado, which can increase absorption of carotenoids like lutein and zeaxanthin from kale - nutrients important for eye and brain health.

I talked about this recently on my appearance on The Mel Robbins Podcast.

[Tacitus Phillips @TacitusPhillips]

@parkeralewis Suppose you want and are comfortable with leverage, which option would you choose?

A. Post BTC as collateral at 50% LTV (11.5% APR)
B. Invest the same value in $MSTR

To me, the downsides are a bit better with $MSTR as a 50% dip in BTC doesn't liquidate you.

[Tacitus Phillips @TacitusPhillips]

@BTC_broo Well, yes. Shareholders are bearing the brunt for now in exchange for expected upside in a bull market. Not guaranteed of course but that’s the bet.

[Tacitus Phillips @TacitusPhillips]

@Yobell13 There should always be homework. It should just be time limited. 30 minutes to an hour is good for everyone. A kid should never have more than that.

[Tacitus Phillips @TacitusPhillips]

As an example, $MSTR is up 1.3% right now compared to $IBIT down 0.3%. I expect Strategy to issue into this to close around $94 without $BTC making much of a move in either direction.

[Tacitus Phillips @TacitusPhillips]

Something I’m seeing with $MSTR is any time it runs up 3-5x the current gain of $IBIT, Strategy appears to be diluting the common to bring it back down. I presume this is to build 24 mos of cash reserve. Once they have this, the dilution to maintain 24 mos should be negligible.

[Tacitus Phillips @TacitusPhillips]

@TylerDurden A real man doesn’t give one thought to the temperature of another man’s food.

[Tacitus Phillips @TacitusPhillips]

Although I’m certain it’s not Jack’s intention, a 6 month loan due at maturity is going to get people rekt.

[Jack Mallers @jackmallers]

Introducing volatility-proof loans by @Strike: bitcoin-backed loans the price can never liquidate.

No margin calls. No price liquidations. No matter how far bitcoin falls, your bitcoin doesn't move.

Volatility is inevitable. Liquidation isn't. Borrow dollars. Keep the bitcoin.

[Tacitus Phillips @TacitusPhillips]

@parkeralewis @adam3us But the proof is in the pudding, right? Since IBIT launch, when IBIT is up on the day, MSTR is up 90% of the time. On those days, MSTR outperforms 1.8x on average. You’re talking about risk theory. This isn’t a classroom.

[Tacitus Phillips @TacitusPhillips]

@MarsHomestead The main reason to open one even if you’re not eligible for the initial $1000 is the possibility of a future contribution from a private company or an additional seed.