He still kinda winged the justification of the mnav premium. Sure, it's easy to argue that it should be above 1x.
But he needs to better explain the value prop and opportunity cost of it being above 2x (or more).
I can see it growing as much as there's a lot of bond-restricted capital looking to escape the debasement. But long term, it has be much closer to the 1x.
What do you think?
Sure. But derivatives serve different function (besides the degen trading). Hedging and insuring the risks is conceptually a fair efficiency gain.
Figuring out the most trustless way to do it is a separate issue.
Will the US debt cross 40T before the 4th of July 2025?
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Fair point. Unfortunately US-Israel aren't known for precision strikes or for surgically removing the regimes. Rather the opposite. So I'm not against replacing the war hawks with a space boy in the lead.
UMA - That's what LightSpark came up with.
"The UMA standard combines human-readable Lightning Addresses with real-time, global payment rails. It extends the capabilities of Lightning and LNURL to add support for compliance and fiat currency FX."
To me, it reads like "KYC Lightning as a service". Lots of Travel Rule compliance speak. It seems like permissioned custodial networks for transferring any assets over lightning.
https://www.lightspark.com/uma
More concerning since they seem more competent than Coinbase. Raising the bar for the fiat world, but it's still absolutely fiat in the IOU sense.
It can very possibly become a one way street Hotel California for any Bitcoin you send there.
Same. The feedback I got was about the "lack of credentials he has for the job". ("Not a doctor")
From my standpoint, he's the best hire so far (together with Vivek). For my liberal friends, he's apparently even more triggering than the Trump himself.
GM ☕
Tip for ATX and central Texas for the gifting season. Don't spend sats on Amazon crap and rather invest into experiences (and good food) with the family/friends this season.
I highly recommend the Roam Ranch https://image.nostr.build/5ac38b70e1950b772fa589108fa397cb210569282f77240a52c75d66a485c832.jpg harvest events (Fredericksburg area).
A day on the hill country ranch; learn something new & pack fresh turkey or a piece of bison with you to enjoy at home.
* apparently Turkey's are all sold out for the Thanksgiving by now; great reason to look into those Bison harvests. 🦬
I think the seller side is also not planning to show up. Why would they? It is clearly a bet with the highest upside for 2025, and the odds are better than ever.
Imagine there's people standing in long ass lines (several years on average to get a permanent residency), gambling years of their life and family future in a highly bureacratic and unpredictable process. And then someone cuts the line...
The legal immigration system is royally fucked up and has zero vision or aim. I suspect that its main point is to channel migrants towards the illegal crossings, money for cartels and cheap slave-like labor inside.
Overseeing it being dismantled would be my dream job. I've seen so many lifes harmed by that system ☠️
It's always fun at the (new) top.
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Same. Lot of nihilism from my peers about their destiny and economic necessity to forever work in the jobs they don't enjoy.
Yet, they reject discussing any possible solutions like they are captured in a Stockholm syndrome and can't imagine themselves even just trying to leave the situation.
They just like to complain. They don't want any solutions 🤕
The "military age men", and "illegals casting ballots" fear mongering were a pretty prelude for imposing the ID checks everywhere. "Not even mentioning" the scheduled deportations.
Smart way to get maga crowd onboard onto 15min cities.
🤔🤔🤔
... You know, I'm concerned that things look like way too much and too easy winning now.
Great recommendation; full movie on youtube.
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Good, but little too late.
Are they gonna be the same cowards next time when it gets opportunistic to them? Credibility is much easier to lose than to gain.
Yes, that's fair. I didn't mean to argue just saying that all those guys who silently stood by have a huge egg on their face. It's good that they collected some courage, but I think that they better look for leaders from outside of the party.
It's kinda simple in retrospect, isn't it. When developing a product, focus on user's problems, don't try to sell them your solutions to made up problems.
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Same. The feedback I got was about the "lack of credentials he has for the job". ("Not a doctor") From my standpoint, he's the best hire so far (together with Vivek). For my liberal friends, he's apparently even more triggering than the Trump himself.