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Satoshi

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Everything posted by Satoshi

  1. Martin is a strong program too. Wouldn’t be smart to tarnish our rep there with Toviano et al.
  2. This is really crazy. The head of the Dallas Fed was allowed to day trade large amounts while he’s out there jawboning and knows what’s coming. Another example of the incredible corruption throughout the system. He fucking traded in and out of S&P futures, $1M+ positions.
  3. President Biden doesn’t care about the health of his cronies at USPS? Tells me this is more about punishing one’s enemies than anyone will admit.
  4. https://www.bloomberg.com/news/articles/2021-09-09/china-releases-oil-from-its-reserves-to-combat-high-prices?sref=5dj0X2VO
  5. non fire walled https://ca.finance.yahoo.com/news/china-releases-oil-reserves-combat-131820334.html?guccounter=1&guce_referrer=aHR0cHM6Ly9kdWNrZHVja2dvLmNvbS8&guce_referrer_sig=AQAAAEHIp9W_HHR-QX1itWV24sI0Ba4NMZUetSsmbv5vVvf9qlUYWlM0EGRFc4-FtFL9HERXsd2Tot2BDWSITg60rOX7jBhDahvtPtka3JbxqJZ5tTtk7lfKm17GRA3YCvoNziY-AgU8jpXBR7UKisb_FWQKzrHqPVb7TegZpB_wyE4t
  6. Here’s another way that it’s utilized in El Salvador today.
  7. There are safety concerns with receiving cash from Western Union as well. One quarter of GDP is remittances. Pretty astounding. If their gdp is $25B and you can bring 400M more in by cutting out fees then that is significant. Especially since that is money directly in people’s hands. It’s handled via apps like Strike. When they send USD it’s instantly converted to BTC for transfer over the bitcoin network. It’s sent to a node there in El Salvador where it’s instantly converted back to USD. Strike negotiates who handles the currency exchanges for them, but it’s nothing the consumer is even aware of. The whole process happens in seconds so no exchange risk. You can switch currencies however you want. Here’s an example going from usd to Naira in Nigeria. So what can get confusing is the distinction between the asset and the network. The asset is Bitcoin which people hodl or transact with over the bitcoin network via Lightning. I would argue Strike is essentially the first “killer app” built using the Bitcoin network.
  8. I’m not sure how the numbers are determined but we actually have fewer ICU patients in SA this week than last week.
  9. Making it legal tender eliminates capital gains tax when you spend it. I think they hope that will spur investment. Also, the more their population uses or interacts with it then the more likely they are to use it for receiving remittances which are a huge part of their economy. If you eliminate the 10-20% fees for remittances from funds being received from the US then that’s an overnight boom for these people.
  10. I think it probably has more to do with the school board that employs him being very red. I will actually give him credit for pushing ahead with school last year. Our kids were in person the entire time and had a very positive experience. This year is presenting more challenges to be sure though.
  11. What’s weird is the rest of the district is relatively fine. It’s just that small area of the district. Some kind of localized Bulverde/Spring Branch breakout.
  12. The Lightning network is definitely undervalued. We have no idea what applications can be built using instant, cheap micropayments. I’ve seen streaming payments for podcasts etc but where it all ends up is unknown. I didn’t really like that they mandated merchants accept Bitcoin (even though it can be instantly converted to fiat), but one upside is that these multinational corps had to adapt and figure out how to accept Bitcoin. So it should be easy to roll out as legal tender laws are changed elsewhere in the future. For a little comic relief, in other news here’s the Taliban central bank chief.
  13. Thought I’d wait and see if this was posted. Hadn’t seen it.
  14. There will be bumps in the road and I honestly wish it wasn’t mandated per se, but it will be net positive for El Salvador. And that will be positive for Bitcoin price and adoption long term. Snowden has been down on Bitcoin in the past, especially it’s deficiencies as it relates to privacy, but the domino effects here are obvious. That’s why you’ll see lots of fud from establishment bodies like the IMF and the World Bank and their friends in the media. Man that last sentence really hits what you see on an individual level. “Latecomers may regret hesitating.”
  15. The timing is interesting, otherwise a periodic dump. Healthy and cleanses the market of some leverage. As of today, nation state(s) are buyers on the open market. Invest accordingly.
  16. Looking good now. Moving out of a nice base it’s formed over a few months.
  17. Whatever you feel comfortable putting aside. Think of it as a high tech, hard money savings account. You can set up recurring buys through Cash App or Coinbase. There’s also swanbitcoin. You can set up recurring buys and autowithdrawals to your own hardware wallet when you’re ready for that. https://www.swanbitcoin.com/
  18. He’s looking much more comfortable navigating the pocket. Looks like his OL might have improved past hammered shit level as well.
  19. Gentlemen, the title of the thread asks if this is the year that inflation is back in the conversation. This is another prominent example of it being in the conversation, due to the less than transitory inflation we’ve experienced. I give zero fucks whether he means what he says or not. But it shows the level of consciousness inflation is currently reaching in our society.
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