JustaBTCPle₿⚡丰

#bitcoin #occasionalshitposting #nostr: #npub19ywmdev7sr44w2lvwp843g4rtz2k5uq7rzrswvj9dusthh73dg3qpkyk5q

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

Time to normalise low bandwidth bitcoin, lightning & fedi mint/eCash transactions over smartphone direct to starlink! Just take a few sats to cover the bandwidth cost... #DONTPANIC - @elonmusk

Wonder what the X everything app will look like?

Gonna drive the bourgeoisie crazy...

[SpaceX @SpaceX]

Falcon 9 delivers 42 @Starlink satellites, including 26 with Direct to Cell capabilities, to low-Earth orbit in back-to-back launches from Florida and California

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@jack @grok looks primed to accept lightning native internet money payments for those that don't want a monthly subscriptions😍

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@elonmusk Gotta love Grok3! Me inside the 200 meter buffer zone outside HM Treasury committing thoughtcrime about all the UK bureaucratic taxes 😂🤣😂

[Samson Mow @Excellion]

@JP_Technology There’s not a huge sell supply. Some entities are trying to convince you that there is a huge sell supply and Bitcoin might drop to 70k.

Meanwhile:

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@PeterMcCormack @DrJackKruse

[David Marcus @davidmarcus]

How Libra Was Killed.

I never shared this publicly before, but since @pmarca opened the floodgates on @joerogan’s pod, it feels appropriate to shed more light on this.

As a reminder, Libra (then Diem) was an advanced, high-performance, payments-centric blockchain paired with a stablecoin that we built with my team at @Meta. It would’ve solved global payments at scale. Prior to announcing the project, we spent months briefing key regulators in DC and abroad. We then announced the project in June 2019 alongside 28 companies. Two weeks later, I was called to testify in front of both the Senate Banking Committee and the House Financial Services Committee, which was the starting point of two years of nonstop work and changes to appease lawmakers and regulators.

By spring of 2021 (yes they slow played us at every step), we had addressed every last possible regulatory concern across financial crime, money laundering, consumer protection, reserve management, buffers, and so much more, and we were ready to launch.

We had worked on a slow rollout of a limited pilot that some members of the Fed’s Board of Governors were supportive of. At last, Chair Jay Powell was ready to let us move forward in a limited way. The story, as I heard it, is that Jay Powell was told by Treasury Secretary Janet Yellen at one of their biweekly meetings that allowing this project to move forward was “political suicide,” and she would not have his back if he let it happen. I wasn’t in the room when this conversation happened, so take these words with a grain of salt, but effectively this was the moment Libra was killed.

Shortly thereafter, the Fed organized calls with all the participating banks, and the Fed’s general counsel read a prepared statement to each of them, saying: “We can’t stop you from moving forward and launching, but we are not comfortable with you doing so.” And just like that, it was over.

One essential point is worth making here. There was no legal or regulatory angle left for the government or regulators to kill the project. It was 100% a political kill—one that was executed through intimidation of captive banking institutions. That was the hardest part of this story for me personally. Not that we had failed, but that America, this country I immigrated to and became a proud citizen of because of its rule of law and value system, behaved in such a way for political reasons. It was a very tough pill to swallow.

The bright side of the story, though, was the many learnings from this wild ride. By the end of the project, we had made so many concessions to get a thumbs-up that the whole design of the network became a Frankenstein of our initial ambitions.

We also learned the biggest lesson of all, which is that if you’re trying to build an open money grid for the world—eventually moving trillions of dollars a day, designed to be here 100 years from now—you have to build it on the most neutral, decentralized, unassailable network and asset, which, hands down, is Bitcoin.

And now this is what many of us who went through this scarring journey are building together at @Lightspark. And this time, we won’t stop until we get it done!

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@HalieyWelchX Oops thisbaccount went downhill fast...

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@cf__200 @elonmusk 🤣😂🤣 Novus Ordo Seclorum wants you to have the right of free speech and bear arms, pay no taxes and be able to custody your own money!

Double agent you say? WGAF as long as you can be sovereign as an individual?

[Carl ₿ MENGER ⚡️🇸🇻 @CarlBMenger]

We fucking did it. #Bitcoin

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@mikegalsworthy Nah, we should join the US! We even speak the same language.

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@larrymeath It's just you...

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@RoaringKitty Yes please Sir 🙏

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@EdwardJDavey Another imbecile in UK politics that needs to be fired...

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@WilliamJHague

[Uncle Rockstar Developer @r0ckstardev]

#BITCOIN ALL TIME HIGH ✊🗽

[John Carvalho @BitcoinErrorLog]

For those of you that missed my presentation in Lugano, here is a tweetstorm summary and introduction to our new Pubky ecosystem.

Let's begin! 👇

[Tomer Strolight @TomerStrolight]

Putting it as simply as I can:

The MicroStrategy strategy is to direct into Bitcoin capital that otherwise wouldn't (too volatile) or couldn't (forbidden to invest in direct BTC or equities) flow into it.

The ETFs are competition for one customer segment - a very big one (retail BTC buyers). However, the ETFs are not serving the debt markets at all.

So MSTR is providing a route for debt capital to flow into Bitcoin while rebalancing their balance sheet continuously (through the ATM equity issuances) to ensure that the debt is very safe. (This is where @saylor's discipline as an aerospace engineer actually comes in very importantly - ie take no chances of disaster.)

The whole thing not only stays "airborne" but continues to climb because the attractiveness of the safety of the debt remains high, pulling in enough capital to support the appreciation of Bitcoin, making the issuance of more equity for more Bitcoin accretive while also making the balance sheet stronger to support further issuance of safe debt.

As long as this cycle can remain in place (ie debt increases bitcoin price which increases equity value which allows for adding more btc to reserves through equity issuance, which allows for issuance of more debt) the total enterprise value of MSTR can keep growing.

Escape velocity is when enough capital flows into Bitcoin independently of MSTRs activities to keep the Bitcoin price rising higher than it has become because of MSTRs actions.

If debt markets dry up the whole thing starts to lose altidude and a strategic pivot will become necessary. But debt markets are absolutely collosal compared to MSTRs 3 year plan ($300 trillion according to MSTR's presentation) so we are probably not going to see the limit hit at a paltry $21 billion eased into over 3 years.

This is not financial advice, but I do recommend you study Bitcoin first and learn to distinguish the difference between MSTR and Bitcoin. If you want Bitcoin, buy Bitcoin.

[David Bailey🇵🇷 $2.0mm/btc is the floor @DavidFBailey]

People have been working for 15 years to get Bitcoin to this point. So much has been sacrificed. So much lost along the way. Blood, sweat, and tears. On Tuesday we can accelerate bitcoin adoption a decade. We can Free Ross

Respect the effort it took to get here by voting. 1 day of effort to change the course of history.

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@paoloardoino USDB - Overcollateralised USD backed by bitcoin rather than treasuries could end up being defaulted on...

[JustaBTCPle₿⚡丰 @JustaBTCPleb]

@BlockstreamJade Already have a Jade but would love the Metal please!🙏