This space is for the curious & open-minded, who want to learn about the opportunities and potential of web3 now & in the future. All are welcome 🥰
1. "We are past the event horizon; the takeoff has started. Humanity is close to building digital superintelligence, and at least so far it’s much less weird than it seems like it should be."
Sam Altman has once again published an article on his personal blog. It is nothing less than a glimpse into the future. Here I summarize the most important quotes:
I had the chance to sit down with @vaneck_us's @matthew_sigel to discuss Bitcoin's price, the potential of a U.S. Strategic Bitcoin Reserve, institutional adoption, ETFs, emerging market adoption and more.
We break down his forecast of $180k Bitcoin in 2025, $450k next cycle, and $3 million/coin in the decades to come.
Timecodes:
00:00 Bitcoin price performance
1:18 Institutional adoption of Bitcoin and crypto
4:17 Bitcoin ETF success
5:37 Generating institutional interest and adoption
8:26 Chances of Strategic Bitcoin Reserve
9:52 Bitcoin Act 10:23 Bitcoin vs. Gold
13:13 Bitcoin in El Salvador, other emerging countries 17:05 Bitcoin acceptance requirement
18:44 Companies, miners buying more Bitcoin
24:57 JPMorgan HODL Premium
26:11 Bitcoin on balance sheets
29:25 Traditional vs. revolutionary
32:24 Protecting self-custody
33:53 What will Bitcoin price be in 2025?
37:45 Can Bitcoin reach $1m in next 2 years?
38:45 Demonetizing gold 40:38 Nuclear ETF
43:17 Matthew's career story
Pluto is entering Aquarius for good on Nov 19…. And it is showing!!! This period will last until March 2043.
Get ready for a new era of technology & innovation, revolutions & power transfers, social reform, breaking down & rebuilding of systems and the foundation of society.
So... everyone thought OpenAI was in trouble with others catching up.
But now, GPT-4o is out, it's free, and it's one of the most magical things I've ever seen.
15 game-changing examples that'll blow your mind:
Say hello to GPT-4o, our new flagship model which can reason across audio, vision, and text in real time: https://t.co/MYHZB79UqN
Text and image input rolling out today in API and ChatGPT with voice and video in the coming weeks.
#Bitcoin this is a free app called https://t.co/kUuR3D1aoz.
You can write an equation and it shows an interactive graph.
Write 10^-17*x^5.83, that is Bitcoin.
The red curve below it is Bitcoin when you suppress all the noise and the bubbles. Look at that hockey stick. Bearish??
You can move along the y axis and show when Bitcoin was 1 day old (the x axis is days from Bitcoin birth, the y is price), 10 days. Then you can move along the red curve and check how long it took Bitcoin to be 1 dollar, 10 dollars, 100 dollars. Compare the theory with real life time.
Go check the value for Bitcoin at day 5,580 from birth, that is today.
Let me know in the comments.
You will be amazed that a simple formula can reproduce Bitcoin price so well, I promise.
Go play with Bitcoin, it is fun.
https://t.co/XLJ9j34b6V
#Bitcoin this tool is amazing and the best tool to learn about the power law in Bitcoin. Tomorrow I will show you how to use it but in the meanwhile you can play with it.
The more realistic formula is Price=10^-17 x^5.83.
On the x you have days from when Bitcoin was created (ignore negative axis). On the y axis you have Bitcoin price in dollars.
Go and check how long it took for Bitcoin to be 1 dollar according to the power law.
Then Google how long it actually took (you can ask when Bitcoin become 1 dollar).
See if the power law is close.
Try with 10, 100, 1000 dollars.
Ask google how many days is today from Jan 3 2009. Go and check on the chart what that x gives you in term of y and see if we are close.
Pretty amazing for such a simple formula. But Bitcoin is that simple that means beautiful.
https://t.co/XLJ9j34b6V
This is the scariest chart I’ve ever made. This is what it looks like when a country is heading toward a financial precipice.
Each color shows $1T getting added to the national debt.
Not that long ago, it took six years to add a bar.
We’re now adding one every 90-120 days.
The explosion of debt has been the only bipartisan phenomenon of my lifetime. For us conservatives, we can’t blame it on just Biden and Obama. For you Democrats, you can’t put this on just Trump. It’s both parties, all presidents, and every Congress.
The acceleration started under George W. Bush. Bush went into 2002 with less than $6T of debt. Thanks to GWOT military spending and tax cuts we probably couldn’t afford, $6T grew to $7T in 23 months, $8T in another 21 months, and $9T in 23 months.
Then the Great Recession hit. We added the next trillion in 13 months, crossing $10T for the first time in American history. And we haven’t looked back since.
During the second Obama term, with spending reined in by the Tea Party movement, annual deficits reduced to less than $1T, and growth in the debt slowed down. At the end of Obama’s tenure, it took nearly 20 months to go from $19T to $20T.
That would be the last time it took a full year to add a trillion dollars to the debt.
In 2017, a real-estate developer got inaugurated as president. And, if there’s one thing we all know—and love!—about real-estate investors, it’s that they understand the value of leverage.
Under Trump, even as the economy surged, deficits grew, and national debt once again spiraled. We ended 2019 with a little over $24T in debt.
Then Covid hit, along with consumer stimulus, PPP loans, massive government spending, and reduced tax receipts. Over just two months in 2020—April and May—we added $2T to the national debt. Ever since, we’ve been adding $1T every 160 or so days.
With Biden in the White House and a narrowly divided Congress, we’re now adding $1T to the debt every three to four months. It took just 91 days to go from $32T to $33T. 104 days to get to $34T.
And it’s not slowing down. Biden has another 300+ days in office this term. When he or Trump enters their second respective term in office in 2025, the debt will likely be above $37T.
Where does it end? As deficits continue to pile up and borrowing costs remain relatively high compared to where they were over the previous 20 years, how is any of this sustainable?
A thread on “financial nilhilism” - the state of young ppl today. This is why a lot of younger gens don’t dream as big or work as hard. It all feels pointless as the realities of the system make it harder and harder for them to succeed, or have the same opportunities as previous generations did.
This is often on my mind. How do we bridge the gap between our dreams & the current reality & larger systems that we live in? What can be done? How can I help?
I post about #Bitcoin so much because all #BTC owned by regular, everyday people is BTC that can't be owned by banks.
WAKE UP.
We probably won't get another opportunity like this in our lifetimes.
STUDY BITCOIN.
AI Video has officially disrupted Hollywood.
Tyler Perry just stopped his $800M film studio expansion due to OpenAI's Sora.
The details and the 14 most mindblowing Sora videos since launch (100% AI-generated):