allen farrington
@allenf32
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a half-baked thesis on stablecoins:. (thanks to @RyanTheGentry, @tierotiero, @LynAldenContact, and @callebtc).
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Germany discovering in real-time that you can print Euros but you can't print Watts.
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I’ve had a theory basically since Trump first emerged as a candidate that his formula for success was entirely a function of how the media treated Romney in 2012. politics of all parties entirely aside, Romney was/is clearly extremely competent, principled, intelligent, and.
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“you ask, what is Bitcoin, Tucker, but really we have to go back to Stornetta and Haber, to Diffie and Hillman, to Hayek. you are familiar with the coverup of the failure of the Bank of England’s war loan in 1914, I assume?”
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BREAKING: Co-sponsor of Elizabeth Warren’s “#Bitcoin Ban Bill” admits the bankers helped Warren write the bill.
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🧡 Only The Strong Survive 🧡. A Philosophical, Technical, and Economic Critique of Prospects in “Crypto” Beyond Bitcoin. by yours truly and my partner in crime, @Big_Al256, who, it cannot be denied, hits dingers.
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the battle for helm's deep is over. the battle for middle earth is about to begin.
Bitcoin requires so much computing activity that it eats up more energy than entire countries. One of the easiest and least disruptive things we can do to fight the #ClimateCrisis is to crack down on environmentally wasteful cryptocurrencies.
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imagine having a time horizon of 2 hours.
Bitcoin -$3600. In under 2 hours. This is not savings, not money, not even currency. Nothing but a speculation, a casino chip. Will it go up to $100K and beyond? Maybe. I don't know, and neither do the glib voices who assure you it will.
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the attempted astroturfing of the dipshit chav trader is one of the more amusing recent failures of the regime totally failing to understand the internet and scoring a massive facepalm:.
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I'm almost embarrassed I never thought to try this before, but this is a long-term graph of the S&P 500 *as priced in gold*. let's call it Cantillon's graph. it is utterly damning and it should make you very, very mad. h/t @TuurDemeester . 🧵
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this is what happens when you can only think linguistically and have no idea how anything actually works.
NEW: Hillary Clinton says crypto could be manipulated by China and Russia
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1. what is ACTUALLY happening in financial markets right now. a thread. TLDR: everything you think you know about economics is nonsense.
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this is an interesting thread but I feel like I should offer some commentary from a bitcoiner perspective:.
35 business ideas of how web3 could improve or disrupt the most successful companies:.
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no, let's not declare a pandemic amnesty, thank you very much.
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#bitcoin is not libertarian. it is apolitical. the reason you think it is libertarian is that you have been conditioned to live in a world in which everything is political. you might wanna snap out of that if you want to have the slightest clue what is happening around you.
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I have married my Bulgarian Princess and can take my rightful place as King of the Slavs!
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the big problem with providing clean drinking water for 500,000 people is that in the course of doing so you draw attention to the fact that 500,000 people previously didn't have clean drinking water. on balance, that doesn't seem worth it.
While American YouTuber MrBeast’s goal was to provide clean drinking water for 500,000 people, activists say his actions shamed the Kenyan government and helped perpetuate the stereotype that Africa is "dependent on handouts."
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contemplating writing a debunking of this ECB drivel. like if you want me to. retweet if you don’t want me to. do both if you are indifferent.
1/ This new paper is a true declaration of war: the ECB claims that early #bitcoin adopters steal economic value from latecomers. I strongly believe authorities will use this luddite argument to enact harsh taxes or bans. Check 🧵 for why:
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"How could Sequoia Capital do this? Why would they think it was a good idea? Why would they brag about it in cringe-worthy fan fiction?. Honestly, why would they not?".
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the ultimate heuristic in understanding the fiat finance stack is to ignore all the crap in the middle because you know it all ends in the same place anyway:
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I'm calling for a complete and total shutdown of silicon valley until we figure out what the hell is going on.
@elonmusk We should be investing in technology that makes having kids much faster/easier/cheaper/more accessible. Synthetic wombs, etc.
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"how dare you jump off this sinking ship! that makes it more likely everybody else will sink!". expect this kind of shit to dramatically increase in quantity, frequency, and aggression.
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when you go from the UK to the US and you sell your pounds for dollars, you aren’t “speculating”, you’re just pretty sure the people there are gonna prefer them in exchange for stuff. bitcoin is like that except when you are going to the future.
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The Internet of Money is happening. The lego pieces are ready to be assembled for consumer utility. 1. Base -> helping blockchains scale.2. ENS -> identity.3. USDC -> stable medium of exchange.4. Smart Wallets -> reduce onboarding friction.etc.
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this is not a smart person.
@MattWallace888 BTC & ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow & transaction cost is high. There is merit imo to Doge maximizing base layer transaction rate & minimizing transaction cost with exchanges acting as the de facto secondary layer.
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I’m not sure I can think of a single more powerful signal for social good than fiat bankers collectively being mad at something.
Bankers are upset in Argentina! Good sign to look into investing in that country or at least visiting.
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american propaganda is far more effective in europe because the natives have no natural resistance. it's like a smallpox blanket.
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that was fun. so who do you think will be the first bitcoin president?.
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I love the smell of crumbling narrative in the morning.
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🧡💜 Bitcoin Is Venice is now free! (as in freedom *and* as in beer) 💜🧡. please, for the love of God, download this and read it on a laptop, in a comfy chair, with a fine liqueur. anybody trying to read it on their phone is getting blocked.
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these people have no idea what they've just done. #bitcoin is now the universally applicable, single-issue pro-freedom schelling point that has never previously existed. and now they are clumsily conspiring to attack it, outing themselves as unequivocally anti-freedom.
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@0xstrobe @llamaonthebrink > the yield comes from borrowers, trading fees, etc. Right, so this worries me. Because it feels like an ouroboros: the value of crypto tokens is that you can use them to earn yield which is paid for by. people trading crypto tokens. Even if the answer is something clear like.
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TLDR: by not being a moralising, condescending, propagandising asshole and letting guests talk for more than 20 seconds.
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introducing Buttcoin, a new cryptocurrency that will be distributed fairly by my cantillionaire friends (promise!). we protect your privacy by collecting data from your anus and storing your poop forever. details about how it works not important. it uses blockchain technology.
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with this horrific deflation, everybody working in the storage market refused to take nominal pay cuts which led to unemployment, while consumers constantly deferred their purchases which led to a pullback in capital investment. it's been a disaster all around, really.
The price of 1 gigabyte of storage. 1981: $300,000.1987: $50,000.1990: $10,000.1994: $1,000.1997: $100.2000: $10.2004: $1.2012: $0.10.2022: $0.02.
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BREAKING: BYBIT NOW SIGNIFICANTLY MORE SOLVENT AFTER TECHNICAL DEBT OF ETHEREUM REMOVED FROM BALANCE SHEET.
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I've realized something that others may well have realized long ago, may reflect my naivety and optimism, but is now made me seriously doubt things can or will improve. there is an alarming proportion of people who, having caved before authoritarianism . 1/n.
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you have no idea of the magnitude of scamtastic shitcoin fuckery coming to bitcoin this cycle. you think you do, but you don't.
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wait, wait, wait. so you're telling me that the US government tried to kneecap crypto and inadvertently catalyzed the biggest fractional reserve contagion of all time?.
Was Silvergate deliberately destroyed by the US government? Shareholders deserve answers. Why did the FHLB abruptly and with no notice recall their loan, effectively dooming them? FOIA anyone?.
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Thiel > Andreessen.Musk > Gates.Balaji > the media.Texas > California.Miami > SV.China > pretending China isn't ferociously capitalist and isn't out-innovating the US in many areas.hardware > software.₿ > $. let's check back in ten years and see how this played out, shall we? 😃.
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open question for fiatbros:. how do you think this is going to end? seriously, what's your plan? does the debt ever come down? does inflation ever stop? if so, *how*? *precisely how*?. "see no evil, hear no evil" is not an answer. evil is afoot and you need to act.
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BREAKING: FIRST EVER TIME ONE BITCOINER PAYS ANOTHER WITH A FORMER PRESIDENT STANDING CLOSE BY AND WATCHING.
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green insanity will become politically untenable for 5-10 years in Europe after the human catastrophe of winter 22/23. but we ought to pile on such that it doesn’t just get quiet for a while but rather becomes inextricably linked with misery, poverty, sickness, and death.
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the total failure of vaccines to prevent transmission was widely known a year and a half ago. that’s not the news. the news is that they have finally decided to stop lying about it and have instead started denying that they ever did lie.
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the chaos in crypto is what happens when you have fractional reserve banking without a central bank. tradfi would be exactly as chaotic if they weren’t constantly and forever stealing from you to prop it up.
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hear me out, guys:. an index of all the different bitcoin ETFs.
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BREAKING NEWS: CAN KICKED. NOTHING SOLVED. EVEN WORSE PROBLEMS TO COME.
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just btw, how in the actual f*** does this have fewer than 500 likes?. I'm not joking, this might be the most important tweet of all time:.
#Bitcoin as protocol has huge potential: it's like the TCP layer, but no one has built the HTTP layer yet. via @jacobwcarlson cc @pmarca.
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imagine how outrageously privileged you have to be to think that energy consumption is a bad thing.
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NEW BULL MARKET SCAM TEMPLATE JUST DROPPED 👀.
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if you think that "saving" could "trigger a financial meltdown", here's a crazy thought: maybe you're the problem.
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I sincerely apologize for ever having endorsed or defended @elonmusk. whatever his achievements, he is a selfish prick. one day he will claim this was all a joke and try to weasel his way back in. but we'll say no, because the worst crime of all is it's not even funny 🤷♀️.
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this is so staggeringly illiterate I literally cannot even.
When I say that Bitcoin is a currency of distrust, I'm just repeating what Bitcoin fans themselves say. There may be good reasons not to trust the banks and governments that create dollars, yens, and other currencies – but that doesn’t change the fact that the preference for
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there is nothing more late-stage fiat capitalism than financial professionals telling you that "capital is cheap". capital is scarce. *credit* is cheap, and, as a result, all capital everywhere is mispriced and misallocated.
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BREAKING: Bank of America has hired some high school interns to spend all day on bitcoin twitter.
NEW: Bank of America has launched a crypto research team. - Bloomberg
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man, they don’t make fascists like they used to 😕.
Javier Milei continues his fascist rampage in Argentina. He has authorised the Privatising of all remaining State owned industries (thats his donors cashing in). He has also authorised the sale of all Social Housing and removed all rent controls. It is going exactly as expected
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I thought worldcoin was some dystopian nightmare, then our team realised how many metric fucktons of fiat we could make dumping this garbage on retail, as well as how much clout we would acquire being associated with the ChatGPT guy.
I thought Worldcoin was some dystopian Orwellian nightmare, then our team invested hundreds of hours evaluating what the project’s contributors have actually built and I completely changed my mind - why we led the latest financing .1/.
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periodic reminder that anybody who endorsed Luna is at best financially illiterate and at worst a criminal. do not entrust them with your assets, do not take their financial advice, and, most importantly, do not take them seriously. tag em in the replies for megalolz 🤣🥳.
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she’s just laid out for you much of modern, progressive, liberated, fiat AF life is a wage slaving scam, and you’re yelling at her to go back in the pod 😕.
Recent college grad has breakdown over working a job. We’re doomed.
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billionaires adopting bitcoin is not good news because it pushes the greatest ever tool for human freedom and prosperity a tiny bit further out the reach of those who need it most. countries adopting bitcoin is f**£ing unbelievably good news 😍. number of people go up 🧡.
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Taleb, the writer, is a genius. Taleb, the tweeter, is a bullying, cowardly, bullshitting charlatan. that’s the short version. here is the long version:.
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god bless @LynAldenContact btw. I long ago graduated to having zero energy for nocoiner NPCs and resorting exclusively to trolling them to save my mental bandwidth. how she manages to stay calm, lucid, and engaged is completely beyond me.
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ENERGY CONSUMPTION IS SYNONYMOUS WITH HUMAN FLOURISHING.
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yeah I dunno I feel like you could probably just use "money" for this?.
1. Amazon logistics. Instead of having large distribution centers, Use decentralized mini warehouses (e.g. your backyard) for storage & drivers pick up merchandises from closest storage location. Delivery fees paid in warehouse tokens are earned by warehouse owners.
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bitcoin twitter got tim buckley fired. if we say that often enough and loudly enough, it becomes true. I don't make the rules.
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so every sack of shit that told me and my family to get a dangerous experimental drug is going to prison then, yeah? or are only some of us accountable for some actions?.
“It’s a stark reminder of the dangers of posting information on social media platforms without checking the accuracy. It also acts as a warning that we are all accountable for our actions, whether that be online or in person.”. Read more - (3/3).
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"wHy WouLd ExXoN mInE bItCoIn Tho?!?".
Yo @PeterSchiff remember when I told you that Exxon Mobil would mine bitcoin before 2030?! . Update: ✅
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in case anybody is feeling at all optimistic, remember this is much worse than just energy. this is the culmination of 10+ years of near universal capital misallocation. everything is broken and the only way out is to print money . .
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EXCUSE ME SIR
No one’s asking where the yield was coming from…. In 2020/2021 you had the GBTC arbitrage, the futures market basis premium, etc. Then those both disappeared, and everyone went to the anchor protocol with UST, and blew up, which has brought us to where we are today…. 🤦♂️.
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having watched this 3 or 4 times and thought about it for nearly an hour, I have come to the conclusion that this is an elaborate practical joke.
About inflation: the price increases we're seeing are due to supply chain issues worsened by COVID. They are not permanent. We need to understand this. If we panic & raise interest rates, rather than strengthening infrastructure to help the supply chain, unemployment will go up.
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