I don't actually own any Bitcoin
It all belongs to my 6 month old daughter
She doesn't even know how to sell it, so there's zero chance she gets shaken out
Elite strategy
A gold analyst just made the best case for bitcoin I've heard all year. By accident.
His whole thesis: "the beauty of gold is it's not used for anything." Send gold to $1,000,000 and nobody gets hurt. Send corn to $1,000 a bushel and people starve. Send oil there and the economy collapses. A reserve asset has to be useless, because money that doubles as something people need to consume punishes everyone the moment it goes up.
He's right. He just stopped one step short.
Gold still has day jobs. Jewelry, electronics, dentistry. Bitcoin is used for even less. It was built to be money and nothing else. No industrial demand fighting its monetary demand, nothing to melt down, no factory waiting on the supply.
Gold is useless enough to be great money. Bitcoin is useless at everything except being money. Same principle, taken to its logical end.
The purest reserve asset isn't the one with the fewest uses. It's the one with none.
DeFi is where:
* Lenders get sub-risk-free rates for risky lending
* Borrowers are apparently unable to run profitable trades like “borrow at less than tbills and buy a tbill”
* Active, multi-strategy credit funds with struggle to provide yield competitive with an FDIC-insured savings account
What are we even doing here? Are we all just trapped onchain with no way out? Even if the lenders are stuck, why are the borrowers not able to sustain very low borrow rates by real-world standards?
And it’s not like we even built a DeFi that does what it was built for, which might justify the friction and low capacity for competent capital allocation.
We were all on the censorship resistant, permissionless finance highway, and then the wannabe hedge fund guys grabbed the wheel and drove us into the ditch because “non-custodial software” didn’t earn them performance fees for <checks notes> underperforming Treasuries.
It’s not even that centralized entities or replicating many TradFi structures onchain is sinful or shameful. They’re not. DeFi, CeFi, and TradFi can coexist.
It’s that the onchain economy is apparently so unhealthy that the only way to remotely give lenders a reward in line with risk is via massive subsidies.
All these gigantic Earn initiatives are money flowing the wrong way, swamping an already overcapitalized DeFi market where we apparently are incapable of scaling any product that’s not minute-by-minute margin or perps, the latter of which is zero-to-negative-sum and closed off from composability, so may as well be offchain from a macro perspective.
RWAs were supposed to save us by letting yield flow from offchain markets to investors onchain. But all we got were “tokenized tbills” that were just nosebleed fees slapped onto a money market fund.
I’m still waiting for these actual tbills so I can build a ladder of them without paying a middleman or three 60 bps of the 360 bps tbill yield.
One gets the impression that onchain markets are only kept from draining into the real world by an invisible dam of CEXs’ and banks’ arbitrary freezing of funds keep people scared to off-ramp.
DPRK can get the money out somehow but there’s not enough borrowers able to withstand a sub-5% borrow rate?
Either there’s free money on the sidewalk or something is busted.
Bitcoin educator Andreas Antonopoulos said he will stop producing livestreams and new content due to health issues.
Antonopoulos previously said he has been suffering from debilitating migraines and has tried nearly every treatment available, but nothing has successfully stopped them.
We need him a lot.
BREAKING: A same-sex couple is suing their surrogate for $600K after she refused to abort their baby at 22 weeks in Canada.
Scans indicated the child had a cleft lip and a possible heart defect.
The little boy was born healthy.
That child is alive today not because of the men who purchased his life, but because the woman who carried him in her womb protected him.
Children are not commodities. Ban surrogacy now.
The blockchain storage problem was a legit argument against BSV who wanted 20Gig blocks. Even back in 2017 we were smart enough to know that BCH's 8mb blocks was a propagation problem leading to miner centralization, NOT a storage of data problem!
@w_s_bitcoin@bamskki And it would instantly prove what a centralized movement it is! If one guy can just update a piece of code and everyone follows! What's Next? A PoW change to PoS?
“Best liquidity in the world,” says the guy who pleaded guilty to laundering money for sanctioned regimes and needed a presidential pardon to avoid finishing his sentence.
I’m no fan of the EU’s policies, but not handing Binance a #MiCA license isn’t “cutting users off.” It’s called due diligence — something Binance’s own compliance team famously joked wasn’t really part of the business model.
Funny how that liquidity worked in both directions when it counted.
CZ said Binance offers "the best liquidity in the world" for consumer protection. He's right. But let's talk about WHERE that liquidity comes from.
It comes from retail getting rekt on Binance Launchpad.
Since 2019, Binance has launched 60+ projects. The narrative is always the same: Binance vets the project, lists it at launch, and retail piles in. Binance becomes the gatekeeper of "credibility." But here's the part CZ doesn't mention.
The Lazio Fan Token (LAZIO) launched October 2021 at $1.00 on Binance Launchpad. Private investors got in at $0.10. Binance announced it. Retail FOMO'd. Price hit $26.75 in 48 hours. Retail thought they were early to something Binance blessed.
Fast forward to today. LAZIO trades at $0.65. That's a 97.5% loss from the peak. Retail never stood a chance.
Alpine F1 Team (ALPINE)? Same blueprint. Launched Feb 2022 at $1.00. ATH $11.29. Current price: $0.42. Down 96%. The token was delisted from Bitget in Feb 2026 due to zero trading volume just dead weight.
But here's where it gets darker. Binance Launchpad isn't a bug. It's the business model.
1) Binance identifies a hype narrative (sports fan tokens, move-to-earn, etc)
2) Binance vets the project (gives it institutional credibility)
3) Private/VC investors get massive allocations at $0.001-$0.10
4) Launchpad subscription creates artificial scarcity ("hard cap" per user)
5) Retail buys at $1.00 thinking Binance wouldn't list garbage
6) Token pumps 10-100x in first week (retail euphoria)
7) Vesting schedule unlocks over 12 months (insiders exit)
8) Token declines 90-99% over next 24 months (retail holds bags)
9) Binance collected trading fees on every step of the decline
The liquidity CZ brags about? It's built on retail extraction.
Let's look at the pattern across Launchpad:
- STEPN (GMT): Launched at $0.01, peaked at $4.11 (411x), now bleeding lower
- Open Campus (EDU): 33x peak, now declining
- Space ID (ID): 41x peak, now sliding
- Hooked Protocol (HOOK): 41x peak, lost 90%+ since ATH
- Arkham (ARKM): Only 16x at peak in 2023 (falling returns as the grift gets known)
Notice the trend? Earlier projects had bigger peaks (because retail still believed). Recent ones are smaller. Why? Because the market is learning that Binance Launchpad = slow-motion rug pull.
But retail is trapped. Binance has 100M+ users. Binance has regulatory licenses. Binance is THE credibility anchor. When Binance lists something, retail thinks "this must be vetted, this must be safe." It's not. It's the opposite.
The vetting isn't for retail protection. It's for Binance's protection. Binance ensures the project won't implode in week 1 (that would hurt Binance's brand). But they don't care if it implodes in month 12. The damage is already extracted.
Here's what "consumer protection" actually means in the Binance universe:
- Deep liquidity pools (so Binance profits from every trade)
- IEO credibility (so retail trusts the listing)
- Vesting schedules published (so insiders can front-run the dumps)
- No accountability for post-launch performance (so Binance faces zero liability)
Retail thinks liquidity = safety. It's the opposite. High liquidity on a scarcity pump = maximum extraction efficiency.
Compare Binance Launchpad to actual consumer protection:
- SEC-regulated IPOs: Lock-up periods for insiders are EQUAL to retail
- Traditional venture: Downside protection, governance rights, legal recourse
- Binance Launchpad: Insiders get $0.10 pricing, retail gets $1.00, both tokens identical = wealth transfer complete
The 60+ projects Binance has launched since 2019 represent billions in retail wealth extraction. LAZIO alone = $26.75 ATH on a $1.00 launch = $26.75B market cap at peak. The fact it's now $0.65 doesn't erase the fact that retail lost 97% while Binance kept the trading fees.
CZ's statement about "the best liquidity in the world" is technically true. But it's like bragging about having the best highway system while running tolls that siphon wealth from drivers. The liquidity exists to serve extraction, not protection.
The real consumer protection would be:
- Identical vesting schedules for all token holders (no insiders first)
- Binding lock-up periods (prove you believe in your own project)
- Performance clawback clauses (if the token dumps 90%, insiders pay retail back)
- Regulatory disclosure (project financials, insider allocations, exit plans)
Binance offers none of this. Because that would kill the model. The model is:
- Build hype through Binance credibility
- Capture retail FOMO
- Execute insider exit
- Repeat
Liquidity is the tool. Extraction is the goal.
So when CZ says Binance offers "the best consumer protection," what he means is: Binance offers the most efficient wealth extraction vehicle the crypto world has ever seen. And the liquidity is so good, retail can watch their investment die in real-time on every refresh.
That's not protection. That's the grift, just wrapped in institutional packaging.
The Lazio Token didn't fail because it was a bad project. It failed because the Binance Launchpad model requires failure. Insiders need to exit. Retail needs to hold bags. Binance needs trading volume on the decline. The ecosystem needs constant new projects to pump and dump because the old ones are dead.
It's a machine. And it's working exactly as designed.
Binance isn't protecting users from bad liquidity. Binance is using liquidity to protect itself from accountability.