Oddbean new post about login | logout SWAN ISSUED A PRESS RELEASE A MONTH AGO WITH BIG NUMBERS. I HAVE NOT BEEN ABLE TO VERIFY ANY OF THEM. THEY DO NOT SEEM BELIEVABLE. https://m.primal.net/HWSv.jpg
GOOD POINTS RAISED
I worry that ALLCAPSing every post makes it hard to judge the severity of the matter at hand. Could you add a severity (X/10) rating to your notes?
No severity. Just unanswered questions.
They're a portfolio for ten31 and you can't verify?!? Highly sus.
How would you even find verification of this sort of info anyway? Seems hard to find concrete info for stuff like this 🤔
Swan was always sus to me. I'm ditching KYC services anyway
I'll bet that Swan is gonna fold this year nostr:nevent1qqsvtglzlh6grjtd58jtc7adwcwzmhljmpnmumra3sjvgpc2raqfxqgpp4mhxue69uhkummn9ekx7mqzyqzvj9w6alhrsvtl5u6ygjkwuwg2sf5lukqskgjpuhnd6dpal0kvjqcyqqqqqqgvrxfvm
Great question for Stephan Livera...
Cory Klippsten is the CEO and you're still trying to trust them? Come on! I turned against them years ago.
Aren't they in bed with Ripple or something?
Question @ODELL why all caps?
OK BUT DID YOU COUNT ALL THE MORTGAGES CORY WAS ATTEMPTING TO SKIM OFF OF ?
Not sure how much they’ve deployed on loans, but there’s likely trickery if it’s a large amount. All interest payments would be booked as “revenue”, but the net income would be 10-20% of that number. The rest goes to the capital providers.
Your post is being widely read. Added to the https://nostraco.in/hot feed
The numbers are real. We’re holding details for strategic reasons until after the next equity round is done, ~April.
Why does Matt have it in for you guys? It's not a good look to keep calling people out for stuff that never happens. Weird. 🤔
It’s one of Matt’s jobs to report on the industry and he does it well.
Yeah that's good. It does seem like there's some unecessary FUD in there too that creates some backlash against Swan but if that's part of the game then that's cool 👍
Uncertainty is from lack of transparency. It seems that is intentional from Swan at this point. Up to each person to decide if that's backlashable.
IF YOU ARE GOING TO RAISE OFF THESE NUMBERS YOU SHOULD BACK THEM UP.
Im withholding details of how many fingers im currently holding up. for strategic reasons.
Smart move. Smart move 🤣
You guys going to be publishing what companies and projects were/are being invested in?
IF THESE NUMBERS ARE ACTUALLY REAL THE ONLY THING THAT COMES CLOSE TO MAKING SENSE IS THAT CORY IS IN DEEP WITH BITFINEX / TETHER MONEY. 1) HE ATTACKED NEARLY EVERY EXCHANGE EXCEPT FOR THEM. 2) TETHER IS ONE OF THE FEW THAT COULD HAVE PROVIDED FUNDING OF THAT SIZE LAST YEAR. SO IF THAT IS THE CASE, HOW EXPOSED ARE THEY IF TETHER BLOWS UP? nostr:note1ck379l05s8ykmg0yh3a66asu9h0l9kr8hek8mrpycsrs586qjvqsvv9dd3
When I see stuff like this I dont know if red flags and alarm bells should be going off, or if there is some information I just have or am thinking about it wrong. Here is my left of curve math. $125M annualized revenue... Swan fee rate is roughly 1%, implying gross deposits from customers of about $12.5B to generate that income. Let's be conservative, and say that works out to $1B/month on average. $1B worth of Bitcoin at today's prices (say $43000) is 23,255 Bitcoin. The miner subsidy of 6.25/block works out to 900 Bitcoin/day. 23,255 Bitcoin represents 25.8 days worth of new Bitcoin/month. Swan is an unsung monster, with plebs buying more than Microstrategy.
Odell is listed third on Ten31, and Swan is in the Ten31 portfolio Why does Odell come to NOSTR in caps and not assess with team? https://ten31.vc/home/#portfolio nostr:note1ck379l05s8ykmg0yh3a66asu9h0l9kr8hek8mrpycsrs586qjvqsvv9dd3
