wealththeory
Wealth Theory

He might not actually. He understands it and he’s busy building things that will earn it. Don’t see why he would sit around thinking about it. He isn’t a hoarder.

2024-01-11 04:19:55 UTC

We can and should force Elon to think about Bitcoin. Bitcoin is a big driver of traffic on X, and it is relevant to every major issue on earth.

2023-09-19 23:57:02 UTC

My iPhone 6 is working hard 😂 https://image.nostr.build/4ea9fee6582559c0addf16dd509660e1239c07b4c0c8481e90bf0e0199f305c4.jpg

2023-06-22 18:57:11 UTC

$CORZQ #note1m7g…petx

2023-03-24 01:18:30 UTC

Is Core Scientific going to emerge from Ch 11 bankruptcy?
On Dec 14, B Riley wrote an open letter to shareholders laying out a plan for a 72 million dollar loan that could help Core avoid Ch11 bankruptcy.
https://seekingalpha.com/pr/19056150-b-riley-financial-issues-open-letter-to-core-scientific-investors
“Our analyst, Lucas Pipes, has been following Core Scientific since February 10, 2022. Based on his model, adjusted for current metrics, even at a Bitcoin price of $18,000, Core Scientific can generate Adjusted EBITDA of ~$140 million. Additionally, if the company builds out the Denton, Texas facility for an incremental $40 million of capital, that could add an additional $25 million of EBITDA, resulting in a run rate EBITDA of ~$165 million. On top of that, every $1,000 increase in the price of Bitcoin would likely add up to $20 million of EBITDA—meaning that if the price of Bitcoin were to increase to $20,000, Adjusted EBITDA could be over $200 million on a run-rate basis. If Bitcoin prices return to $24,500, we estimate that Core Scientific will generate nearly $275 million of Adjusted EBITDA to service creditors.”
Worth reading the letter.
Core did end up filing Ch 11 bankruptcy.
On Feb 3 a group of equity holders asked the court to form an official committee they claimed would provide “critical input with respect to valuation and negotiating Chapter 11 plan terms on behalf of equity.” The group said that Core Scientific is solvent, and that given the recent rally in bitcoin prices and the improvement of energy markets, “the value available for equity is increasing.”
On March 1st, B. Riley’s DIP loan was approved and the equity committee was also approved. The equity group represents 69 million shares. Insiders hold 107 million shares of the appx 369 OS.
https://finance.yahoo.com/news/core-scientific-bankruptcy-judge-set-005507515.html
In the filings for the approval of the committee:
“The Debtors, their advisors, and the Special Committee of Independent Directors of the Debtors’ Board of Directors (the “Special Committee”)3 are keenly aware of the Debtors’ duties to all stakeholders, including equity holders. After careful consideration and deliberation, the Special Committee determined that the appointment of an Official Equity Committee with a limited scope and Budget is appropriate at this time for two primary reasons. First, rising bitcoin prices and lower energy costs suggest the Debtors may be solvent (and, at the very least, are not “hopelessly insolvent”).”
And in the official response:
“At the same time, one of the Debtors’ most significant operating costs – utilization of power to operate their mining facilities – has declined steadily since the Petition Date as underlying fuel costs have generally decreased.6 Higher bitcoin prices, lower power costs, and other developments have all served to improve the Debtors’ prospects since filing. The marketplace’s interest in providing the Debtors debtor-in-possession financing in late January further evidences the Debtors’ improved financial prospects since the Petition Date. The Debtors received four new DIP financing proposals in January versus just one from the Ad Hoc Noteholder Group (as defined below) in December7”
11. “If current conditions continue to improve, it is likely that the Debtors are
not “hopelessly insolvent,” and plausible that the Debtors are solvent”
https://cases.stretto.com/public/X217/12024/PLEADINGS/1202402252380000000010.pdf
Bitcoin was $23,000 at this time.
$CORZQ is currently trading at .30 with a market cap of around 70 to 100 million. They’re mining 45 to 50 BTC a day (posted daily on twitter). If they can emerge from Ch 11 the share price should be significantly repriced when compared to other public miners as I believe they are the largest publicly traded miner by hash rate.
Any insights are welcome. This is not intended to be advice in any way shape or form. Just though I’d try out Nostr for some crowdsourced DD.
PV 🟣🟠🙏

2023-03-18 17:37:11 UTC

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It’s the new Mcafee “I’ll eat my dick” publicity stunt imho.

2023-03-18 16:28:39 UTC

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It would mean hyperinflation which will have massive tail effects. Starvation, civil unrest, mass unemployment..

2023-03-14 13:17:15 UTC

Bull market Nostr? 👀🟣🟠

2023-03-13 12:36:12 UTC

No central bank ever lost control of inflation on purpose.
If the Fed cannot hike because of systemic risks and are forced to tolerate inflation, is it not risking HYPER-inflation?
🟠🟠🟠

2023-03-13 12:17:50 UTC

The irony of the IMF issuing warnings to El Salvador about Bitcoin as FED policy mistakes collapse banks in the West…
🟠🟣

2023-03-12 05:04:26 UTC

Joke of the day:
It’s a soft landing.
With bank runs.

2023-03-12 04:05:17 UTC

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Somewhat. Wealthy people are still buying Bitcoin

2023-03-12 03:58:50 UTC

Working class Bitcoiners are critically underrated.

2023-03-12 03:28:40 UTC

QE Infinity 🟠

2023-03-07 02:26:43 UTC

You tweet on Twitter.
What do we do on Nostr? I don’t want to call these tweets.

2023-03-07 02:02:15 UTC

If someone doesn’t like Bitcoin I really can’t take their worldview seriously.
They just haven’t figured it out yet because understanding monetary incentives and their tail effects brings everything into focus.
Arguing with people who aren’t there yet gets exhausting. Nostr is refreshing.
🟣🟠🙏

2023-03-07 00:27:37 UTC

"Victory is won not in miles but in inches. Win a little now, hold your ground, and later, win a little more."
- Louis L’amour
🟠🟣

2023-03-06 02:21:16 UTC

Not trying to brag, but I have 2 badges 🟣👀

2023-03-06 01:56:56 UTC

Real estate prices in Ontario are holding up quite well considering high rates. Demand is actually fairly robust.
It will be interesting to see if this continues, as prices have skyrocketed in the last decade and many have called for a crash due to higher mortgage rates.
Debasement kills the working class and in the absence of a dollar that holds its value over time, assets are monetized beyond their utility value. This creates a wealth gap between asset owners and labourers working paycheque to paycheque.
If real estate prices hold or turn up it would be a very strong signal that Bitcoin adoption will accelerate amongst those who’ve feel left behind.
🟣🟠🏡
Thoughts?

2023-03-04 20:20:11 UTC

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What’s up with the badges and why do I feel I need some

2023-03-04 18:25:11 UTC

Imagine an eBay/Craigslist style market place built on Nostr with lightning payment rails?
This would create a Bitcoin standard economy.
Game changer. PV 🟠🟣

2023-03-04 00:28:27 UTC

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Wouldn’t want a son who didn’t at least want to be the boss

2023-03-03 23:55:28 UTC

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Theft of our most precious assets. Time, health, energy, focus. 🎯

2023-03-03 23:52:37 UTC

The fact that billions of working men and women must sacrifice 40 years of their time, energy, health, and focus to gain access to fiat currencies that central banks replicate with a keystroke is injustice on the largest scale humanity has ever seen.
Bitcoin has solved this problem. The volatility of adoption is the only thing that clouds this truth from the masses, but that is also our opportunity.

2023-03-01 00:20:05 UTC

Spreading sats all over Punta Cana with Wallet of Satoshi 🤣🟠🟣

2023-02-23 19:52:55 UTC

Just gave all my zap sats to my 21 year old cab driver in Punta Cana via #[0]
He loves it!! ⚡️⚡️⚡️

2023-02-21 01:26:38 UTC

Using Nostr makes it so easy to stack and hodl Bitcoin.
How could we not?

2023-02-19 17:23:34 UTC

Central bankers will not survive the technological revolution that is underway.
An educated, resourceful mob of sovereign individuals with a message of empowerment will make sure of that.
Bitcoin is relentless. 🟣🟠

2023-02-18 14:50:41 UTC

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There’s nothing wrong with working for fiat. Stack if you can, when you can, and enjoy your life.

2023-02-18 13:55:18 UTC

I’ve learned that stacking and hodling Bitcoin is basically just about living within your means and being happy with what you have.
Eat healthy, stay active, work on things that are meaningful to you and avoid wasteful consumption.
An army of people doing that should win over the world.
PV 🟠🟣

2023-02-15 23:10:34 UTC

I think Nostr means that Bitcoin Twitter peaked in the last bull run.
That might be the best news I’ve heard in a long time.

2023-02-11 01:45:31 UTC

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PV ⚡️

2023-02-10 22:15:26 UTC

Really enjoying having a pure signal feed for Bitcoin on Nostr.
This is cool. 🟠🟣

2023-02-08 22:29:21 UTC

Twitter is down, and look where I went to talk about it. 🟣👀

2023-02-08 17:48:08 UTC

Q: What do you get when you cross a Turkey with an Ostrich?
A: I don’t know but I don’t think it tweets.