2024-12-31T16:03:49Z https://nostr.now FTB https://nostr.now/npub1h8z77d0mqx8nreltfxzhw5vgv2d2yvfvn7p8nz6ugtafk9ly9tas4zta38 https://imgur.com/6anFjMX.jpg https://imgur.com/6anFjMX.jpg https://nostr.now/nevent1qqsv4qz27zq6tujnk6rpv043c6jhpr352lzyeu056rc9aufzjpzptdczyzuutme4lvqc7v08adyc2a633p3f4g339j0cy7vtt3p04xchus40k6yzyf7 I&#39;m now completely convinced that this entire drawdown - which may have been started by API problems on Binance, but if it hadn&#39;t have been that it would have been something else - is all about liquidating bitcoin backed loans. <br/><br/>It&#39;s a terrible incentive sitting out there in the market. A HUGE pot of bitcoin that is suddenly up for grabs at LOWER prices. And this world is full of rich people who want our coins. <br/><br/>If you needed liquidity above $100k you had two options, sell or take a loan out. Of course there were lots of companies eager to sell you the dream of getting liquidity without selling your bitcoin, unfortunately that&#39;s all that is, a dream.<br/><br/>We&#39;ve been sold a lie that bitcoin is the best possible collateral because it&#39;s liquid 24/7! Well sure that makes it amazing...FOR THE LENDER! For the borrower it just puts a target on your back. <br/><br/>You thought you were a hardcore hodler, but you just posted your coins for sale at $58k! And guess what? There are buyers who want that deal!<br/><br/>We&#39;re going to go down until every reasonably accessible bitcoin being held as collateral is freed up and sold to someone that ain&#39;t one of us! If you avoided taking out a loan, congrats! If somehow you have some dry powder now, amazing, you deserve these cheap sats.<br/><br/>If you&#39;re looking at liquidation even anywhere in the 50&#39;s, I&#39;d consider cutting your losses and closing your loan with collateral. If you can get your margin call price into the 40&#39;s I would hope you would be safe, but who knows. There are no rules in a truly free market. 2026-02-05T16:42:02Z https://nostr.now/nevent1qqs29f7rtnz0j3xmc5a0ak6xwz4xnz95tk0xnyqksz53c0uw2wl3l6qzyzuutme4lvqc7v08adyc2a633p3f4g339j0cy7vtt3p04xchus40kywslx0 Nothing Stops This Train?<br/>Don&#39;t Trust, Verify<br/>Elon Musk in 3 acts. <br/><br/>Act 1:<br/>In 2021 Elon tried to appease the Democrats by paying the largest tax bill of all time - quite a bit more than he actually needed to pay. He verified that you could not tax your way out of the overwhelming debt problem.<br/><br/>Act 2:<br/>In 2024/25 Elon tried to appease the Republicans by campaigning for Trump, forming DOGE, and suggesting a narrow possible path where we could cut our way out of the debt problem. He verified that the right only gives lip service to fiscal conservatism.<br/><br/>Act 3:<br/>Elon has been well aware of libertarian/bitcoiner arguments for a long time. But he needed to verify that in fact the system could not be fixed from the inside, he has now done that. I believe Elon will now turn towards the only actual solution to the problem - Bitcoin. 2025-06-05T01:01:51Z https://nostr.now/nevent1qqsq9g35z3k2ycw6r9u6x7yj7g4ak52wvawr8ec7e0gmytwxhxvxpaqzyzuutme4lvqc7v08adyc2a633p3f4g339j0cy7vtt3p04xchus40kpmgkwx I’ve never seen a potential known news event (even if the market doesn’t really think it’s going to happen, it’s still known that it might) move the price sustainably. <br/><br/>I have seen news move the price in a positive direction, but it’s always surprise news (like when Tesla announced out of nowhere that they bought). <br/><br/>However I think the surprise could be a change to the tax treatment of bitcoin which could have wild implications, this has been talked about a little, but would still be a surprise to the market I think. Let’s say hypothetically they announce that they’re going to get rid of cap gains on bitcoin and treat it as a currency. I think you see 3 phases:<br/>Phase 1 where everybody suddenly stops selling and we go up only until it’s implemented. <br/>Phase 2 once it’s implemented where we have massive volatility of people resetting their cost basis, OG’s selling, and the start of a huge rotation into bitcoin. <br/>Phase 3 where we just see the rotation as the market realizes that bitcoin isn’t just the best performing asset, but also the only one with tax free gains.<br/><br/>I think the best we’re going to get re: SBR is some sort of announcement or proposed legislation that will maybe cause a brief spike that will be sold off. It’s hugely bullish, but I think bitcoin is very bad at pricing in future events, just not enough liquidity, won’t be priced in until they actually start buying. 2025-03-07T00:16:32Z https://nostr.now/nevent1qqstsewmf2tfesf7l4rytafrk6ypll7php8s0kvj0fznnlymn2wfk6gzyzuutme4lvqc7v08adyc2a633p3f4g339j0cy7vtt3p04xchus40kaxusk6 Almost choked to death for like the 5th time earlier today. Fuckin hell, chew your food friends (also I have a narrow esophagus I think). Grateful to be here 🧡 2024-08-28T01:53:57Z https://nostr.now/nevent1qqsr68j87s8mrnl4x8d4dxmles55phx4atefv853j9j7kc3zh0g3q0gzyzuutme4lvqc7v08adyc2a633p3f4g339j0cy7vtt3p04xchus40kudwt63 In reply to <a href='/nevent1qqsvhuvamd7arfxfqzjhk5t8668kyx99f0wa49qv5ncm642lnt7pgqsqfkr8k'>nevent1q…kr8k</a><br/>_________________________<br/><br/>Sometimes you know you’ve been bested. <a href="https://damus.io/note15l939j22r5gs5raxkfvgfnpmy0d6gedu2gc0lzas7mle3vdklpqq2n9hld">https://damus.io/note15l939j22r5gs5raxkfvgfnpmy0d6gedu2gc0lzas7mle3vdklpqq2n9hld</a><br/><br/>In my defense as I was typing in “cat dick” into a private window on my phone I had a moment of clarity, realized I was in a public place with people sitting behind me and decided “cat dick Nixon” was the safer bet. 2023-03-08T04:36:51Z