Ndiaye

Let us not take ourselves too seriously. None is us has a monopoly on wisdom.

[Daniel Batten @DSBatten]

JUST IN: Senegal's Prime Minister's Office has just given approval to a Bitcoin mining pilot to use Bitcoin mining on stranded renewable energy

The potential to accelerate rural electrification was a big part of the reason

Africa gets Bitcoin!

[Daniel Batten @DSBatten]

Meet Mohamed.

As a child, staying with his grandmother in rural Senagal, his life was consistently at risk when he had an attack because there was no electricity to refrigerate medicines.

Many times he was rushed to hospital (a very long way away). He was one of the lucky ones. Others were not.

Years later he left a senior role in the nuclear industry in US to return to his homeland, to help his country solve this problem.

This happened because Mohamed, as an engineer, had a chance introduction to Bitcoin mining. Because of his upbringing, he saw the promise of the technology that most miss.

Mohamed was encouraged by two things
1. how the technology was already bringing electricity to rural communities in Malawi, Kenya, Zambia through @gridlessenergy's micro-hydro plants

2. how Ethiopia's power board used it's extra revenue selling wasted energy to Bitcoin miners to build 28,571 km new power lines and 8,700 substation bays out to rural Ethiopia.

So he set up his own Bitcoin mining company in Senegal.

He met with the nation's energy minister.

The meeting went well.

Then he talked to the Prime Minister's office.

He just got approval from one of the large renewable energy utilities to run its first Bitcoin mining trial.

Rural electrification is one of the two biggest issues facing Africa. The other is youth unemployment.

But sometimes you have to have the mindset of an engineer, and to have seen the human cost of the problem firsthand, to see the solution that others miss.

[Ignorance, the root and stem of all evil @ivan_8848]

How China Built the World’s Biggest Train Station on Top of a Mountain

Welcome to Chongqing East Station: China's $7.8 billion high-speed rail megaproject. 1.22 million square metres. 40,000 peak workers. A 16,500-tonne steel tube truss roof assembled on the ground and hydraulically slid 57 metres upward onto 41-metre tree-shaped "Huangjue" columns.

• How 40,000 workers built a 1.22M m² station in just 38 months on a mountain
• The sliding assembly method — why the 16,500-tonne roof was built on the ground first
• The Huangjue tree columns — 41-metre branching steel structures designed for earthquake resistance
• Stainless steel cladding installation at 57 metres above a mountain slope
• Why Chongqing East Station is now the largest railway hub in the world
• The high-speed rail network connecting Southwest China to 14 major cities

[Elon Musk @elonmusk]

Engineering is real magic

[The Bitcoin Conference @TheBitcoinConf]

#BITCOIN MAKES WAR UNAFFORDABLE ✊

[Alec Stapp @AlecStapp]

Imagine voluntarily doing this to your own country

[The Kobeissi Letter @KobeissiLetter]

JENSEN HUANG:

"In the next 6-7 years you are going to see a bunch of small nuclear reactors... we will ALL be power generators, just like somebody's farm."

Are "mini" nuclear reactors the solution to the impending energy shortage caused by AI?

[Saifedean Ammous @saifedean]

Probably the best thing to happen to humanity in my lifetime

[Mercury @TraderMercury]

my advice for anyone having a tough time in the market right now:

> cure causes, don't treat symptoms.

often times it's not our most recent action that ruins us,

it's the inability to have accepted the action (or inaction) prior to that.

example:

> "I will buy when this range breaks out"

*days later, the range breaks out*

> "ehh, but it kinda looks like a sweep of the high / this news event is a good reason not to buy / funding is too high / etc."

you don't realize you just made one of the greatest sins imaginable in trading,

you LIED to YOURSELF.

an easy way to knock over the initial domino in a poor string of decisions that will soon follow

Here's why:

A) if the market rallies higher from that point, it sparks some strong emotions - suddenly you find yourself distraught because you didn't listen to your initial plan

emotions in trading are like a dam with a crack—once you let a little seep through, the flood soon follows.

then somehow, maybe only hours later, with price x% higher, we might find ourselves willing and able to play into our initial thesis - just with a substantially worse entry

nothing good follows from here.

A.2) if the market decides to continue rallying higher, you've now been rewarded for FOMO-buying

when the market rewards your behavior, it's easy to want to repeat that behavior in the future.

it's not difficult to see how that'll eventually play out...

A.3) if the market decides to stall, or perhaps even fall back inside the range entirely after you finally find the courage to enter, any shred of confidence you have will be utterly destroyed, and it's now on you (the person that lies to themselves) to get yourself out of that poor position, whilst in a deteriorated state of mind;

goodluck.

B) On the other hand: if the market decides to reward your hesitation, and trades lower after breaking out of the range...

you have now been rewarded for lying to yourself.

the counterargument here is: you were able to acknowledge new information and make a crucial decision on a whim.

in which case, maybe you are alpha - fair play.
only you know whether that is the truth, or not.
(check your long-term results for verification)

or maybe it's just variance, and the outcome itself has allowed us to justify one of the greatest sins in trading

in which case, we will do it the next time too

because if I'm willing to not buy a breakout when I told myself I would,

what's stopping me from not cutting a position, when I told myself I would?

or FOMO-buying a rally when I told myself I wouldn't?

it's all the same.

often times our poor performance in the present can be traced back to a singular moment in recent history which led to a string of poor decisions

a singular moment which we've constantly attempted to compensate for

a single action, or inaction, which we've been unwilling to accept

because when it was time to make that decision, we allowed emotion, specifically fear, to sway us

we so desperately wanted to avoid one fear, and as a result, we allowed a whole new wave of emotions to creep in - many of which we never accounted for

eventually you realize, you could've avoided all this by simply accepting the one fear that inherently comes attached with the initial decision you were going to make.

reverse-engineering this process is an effective way to uncover, and address, the root cause of our poor performance.

lots of self-awareness is required in order to even want to begin recollecting those decisions

it's common for our brains to subconsciously trauma-block our poor performance, which enables us to continue on the downward spiral

forcing yourself to go on this journey is incredibly difficult

but in my 26 years, I've found that in markets and in life: the most difficult things are often the most rewarding.

thanks for reading.

much love and goodluck🖤

[Chicken Genius @chickengenius]

Be careful what you wish for.

There's a fine balance between bad data and really bad data.

Once the economy goes into a deflationary tail spin, there's no stopping it until it gets back stopped.

While some of my longs are printing, always remember don't be the exit liquidity.

[Benjamin Cowen @benjamincowen]

Historically, the #BTC market cycle top is in when or just before the 200W SMA crosses the prior ATH.

Something to keep in mind...

[Benjamin Cowen @benjamincowen]

They call me Benjamin T. Cowen, PhD, or BTC.D for short

[db @tier10k]

Context:

Proposal made by somewhat whacky 'Project 2025' advisory board member think tank

MSFT board recommends voting against because they already 'evaluate a wide range of investable assets' incl Bitcoin

[Rajat Soni, CFA @Rajatsoni]

If you think Bitcoin can provide passive yield, you don't understand Bitcoin

Let me explain:

(THREAD 👇)

[The Kobeissi Letter @KobeissiLetter]

This is insane:

Interest expense on US Federal debt is now at a record $3 billion PER DAY.

This is TRIPLE the amount paid 10 years ago and has DOUBLED in just 2.5 years.

Total annual interest costs on Federal debt reached a whopping $1.1 trillion in Q2 2024.

Even if the Fed cuts rates by 1% and all government bond yields decline by 1%, daily interest expense will still be $2.5 billion.

That would be more than double the average paid in 2009-2019.

Debt crisis is an understatement.

[Saifedean Ammous @saifedean]

It's nice that politicians are pandering to bitcoiners, but promises are cheap. There is a major insurmountable obstacle to the US govt buying bitcoin: The US govt does NOT own or control the US Federal Reserve, which is a cartel of private banks. The US President can't just tell this cartel what to do with their reserves. The US dollar is the sacred cow of this cartel, and it's how they rob the entire planet. They're not about to give up this racket because some politician made a promise whose implications he doesn't understand. They're not going to buy a million bitcoins, because a commitment to purchase bitcoin will just encourage everyone to dump their dollars and buy bitcoin, and destroy the value of the dollar and their ability to rob the world with it. If you think they managed to build this century-old cartel while being stupid enough to fall for this or powerless enough to stop it, you're going to be disappointed to find out they're actually just evil.

But can't the US government buy bitcoin itself, without the Fed? With whose money exactly? The US government is fiscally irresponsible and its biggest expense is debt servicing. There are good reasons your irresponsible debt slave friends never get bitcoin and keep laughing at you when you bring it up. Irresponsible high time preference people and institutions don't understand the concept of long term savings. More importantly, the US government needs the Fed to buy its debt and keep its Treasury ponzi going. Buying bitcoin in spite of the Fed's opposition is a full-on declaration of war by the US government against the Fed and the fiat dollar, and that's just not something that Trump, or Kennedy, is up for. Trump has repeatedly praised the Fed. Kennedy wants to implement some ridiculous low interest rate subsidized home lending scheme only possible with the Fed creating cheap money. These men are not Andrew Jackson, nor are they even trying to be him.

The real enemy of bitcoin, and humanity, is the Fed. The US government is just its tool, and politicians are interchangeable actors that haven't mattered in decades. You're not going to destroy the Fed by promising to vote for one actor over another. Your only chance of destroying it is for bitcoin to grow larger than the dollar and Treasury bonds, and for dollar users to continue to get impoverished into oblivion while bitcoiners thrive with their superior technology. I humbly suggest you not waste time and sats on the politics circus, and work hard to stack sats instead.

[Michael Saylor @saylor]

$ell ₿uy

[Ndiaye @smmsln]

@aoTheComputer 🐘

[Willy Woo @willywoo]

The new #Bitcoin ETFs brings price targets of $91k at the bear market bottom and $650k at the bull market top once ETF investors have fully deployed according to asset manager recommendations***.

These are very conservative numbers. #Bitcoin will beat gold cap when ETFs have completed their role.

*** Note these are not targets for THIS cycle, it takes a long time for capital deployments to complete.

___

Back of the envelope calculations:

1) $100T managed by asset managers, they generally have a 2% allocation recommendation (see Fidelity). This number will rise over time, but today it's a $2T allocation into BTC.

2) BTC currently holds $561,159,959 of investment (we can measure this on-chain), new total will bring it to $2.56T of investment

3) We can use MVRV to calculate market cap vs money invested. This ratio is 5x in bull market tops and 0.7x in bear market bottoms.

4) This translates to capitalisations of $12.8T and $1.8T respectively or $650k and $91k per coin.

5) I've excluded other self custody inflows, so this is absolutely a lower bound estimation. Self custody inflows are way bigger right now.

6) Bitcoin will certainly exceed Gold capitalisation by the time asset manager capital has deployed. Gold went on a 12 year bull run when it's ETF was approved, now it's Bitcoin's turn.

[The Bitcoin Historian @pete_rizzo_]

Satoshi believed #Bitcoin mining would be less energy intensive than the legacy banking system.

Note: This is by far his best new quote