Lyle Pratt
@lylepratt
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Building @VIDAisAI. I tweet about steak, surfing, startups, software, AI, b*tcoin, macro. Past: startups.
Joined May 2009
who is working on 12 gauge slugs that deliver localized EMP bursts using piezoelectric polymers?.
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“Bitcoin is easy to ban!”. meanwhile folks are hashing with used cooking oil…
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PSA: The Fed has discontinued the M2 money supply measurement. Now. why would they do that?
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people are selling bitcoin because they think the Feds can break a 256bit private key 🤣.
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“I have hundreds and hundreds of millions of dollars of exposure to Bitcoin…and it will be billions.” — @howardlutnick CEO of Cantor Fitzgerald
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So turns out 3AC basically just followed this guy’s tutorial with billions of dollars of borrowed money
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BREAKING: 15% of central banks expect to replace gold with #Bitcoin in their foreign reserves.
85% OF CENTRAL BANKS SAY THEY DO NOT EXPECT CRYPTOCURRENCIES TO REPLACE GOLD IN THEIR FOREIGN CURRENCY RESERVES . - AN ANNUAL UBS SURVEY OF 30 LEADING CENTRAL BANKS. Sorry to break it to you. .
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By withdrawing your bitcoin to your own keys:. A) You force exchanges to prove their reserves.B) You punish bad actor exchanges with collapse.C) You force price higher by removing fake unbacked IOUs.D) You sleep peacefully knowing no one can take your bitcoin. Do it today!.
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The entire bitcoin supply emission rate is being consumed by addresses with < 1 BTC. These chads accumulate over 28k BTC/mo while new supply is only about 27k. There is less than 1 year before monthly supply gets cut to 13k. Bitcoin will moon with or without “mass adoption”.
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If you have bitcoin on Celsius, you really should move it literally *anywhere* else immediately.
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Credit Suisse’s Zoltan basically said that if bitcoin “still exists” after this, it’s going to be six figures. Do you think bitcoin will cease to exist?.
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Bitcoin was $64k and the biggest fud was China 51% attacking it and Chinese miner pollution. That fud is now dead.
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What if the #bitcoin chart is a continuous series of mini-pumps and the whole Mt.Gox crash just threw off the rhythm for a few years? What if the halving cycle is a myth?
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“bitcoin has no use case”.
The government of Bolivia just rugged everyone holding dollars in their bank accounts, and instead is telling people they will get the commensurate amount in the local currency, bolivianos - which is redeemable back to USD for 50% less. This is why Latin America needs crypto.
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If 1 quarter of the people that own bitcoin IOUs actually withdrew to their own keys, BTC would be back at $69k in no time.
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There’s about $30T in offshore bank accounts today. What percentage of that moves into cold stored Bitcoin over the next decade?.
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Did you know you can withdraw bitcoin 60 times on Kraken with Lightning before you can withdraw bitcoin once from Binance (because they don’t have Lightning)?.
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Last week: "Ive known Michael Saylor for 20 years" - @EricTrump . Today: “I think Trump is serious about the bitcoin reserve.” - @Saylor.
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The MSTR premium is sitting at 43% right now. It's about time for @saylor to issue some stock and buy some bitcoin.
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PSA: A 98% cash portfolio with 2% BTC allocation outperforms the S&P over any 4 year time frame since Bitcoin's existence. This shows just how ridiculous the "but what about the volatility?!" commentary is. Real investors know all that matters is allocation percentage.
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The year is 2030. The 3 more halvings have occurred. The Euro is defunct. How many Bitcoin does this yacht cost?
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Q: Why would El Salvador even consider making #bitcoin legal tender? Won’t this disempower their central bank?. A: They are already a dollar based economy and can’t print their own currency.
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every once in a while it would be cool if there was someone else besides saylor buying $500M of bitcoin. just saying.
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In my 10+ years holding bitcoin, there’s never been a setup like this. The classic uncertainties surrounding it have died. Powerful people (Lummis, Lutnick, RFK, Vance, the Trumps) in the government publicly own it and want to establish a national stockpile. Don’t screw this up.
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apparently everyone in the crypto industry is literally short bitcoin.
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“Banks are asking for bitcoin because they can see their customers sending dollars to Coinbase”.
Bitcoin is coming to hundreds of U.S. banks this year, says crypto custody firm NYDIG
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I am once again reminding you that bitcoin under a $1T market cap is just silly.
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You can spin up a Lightning node and start taking payments from $80+ million @CashApp users (who may or may not know anything about Bitcoin) in under and hour without anyones permission or approval. This is a *huge* shift so many still don’t appreciate. ⚡️.
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Bitcoin front-ran the inflation. Bitcoin front-ran the recession. Bitcoin will front-run the fiat collapse.
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We already have a 2% wealth tax. It’s called #Inflation.
Sen. Elizabeth Warren will introduce a new 2% "wealth tax" on Americans with more than $50 million in assets.
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Are people that staked ETH into the ETH2 contract getting nervous yet?.
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Have we tried printing money to get the boat unstuck faster?.
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"Bitcoin destroys our ability to run permanent deficits." -- The Minneapolis Fed (basically).
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I'm hearing rumors that the OTC desks only have 420 bitcoin left.
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FTX sold over $1B in bitcoin but only had ~$1M to back it up. How much more fake “spot” bitcoin is out there as a percentage of total supply?.
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@SenWarren @SECGov who is paying you to target bitcoin? Is it the same bankers that wrote your bill?
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The sanctioning of the Russian Central Bank is basically the beginning of the end of fiat. Sovereign trust is broken and it won't come back. Every Central Bank in the world *must* hedge now.
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So is Barry's plan for the Genesis/DCG fiasco to just stall until Bitcoin goes up?.
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Looks like Blackrock has caved to the SEC's demands to exclude in-kind creations and redemptions from their spot bitcoin ETF. They've just filed their amendment. Relevant text highlighted below.
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@RepThomasMassie with respect to you, no one believes congress will do anything good because it never does. so i wouldn’t call it over thinking, i’d just call it managing expectations.
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@Austen the same first level reasoning everyone uses when they talk about the government paying for things 😅.
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hey @brian_armstrong you guys have almost $6B in cash. seriously. why not buy some bitcoin? don't you still believe in it?.
Coinbase has $5.7b of liquidity on their balance sheet. ~90% of it in bonds, money market funds or cash. why does the world’s largest crypto exchange not invest in #bitcoin at all?🤔.
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.@mcuban: AI is going to solve the world’s fiat debt problem! Don’t worry! The government can keep printing and AI will save you because … reasons!.
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We need a Texas Bitcoin Reserve to help insure our state's sovereignty and financial stability for the decades to come. @GovAbbott thank you for your openness to this idea!.
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Bitcoin Lightning enables infinite Money Velocity without Debt for the first time in history. ⚡️.
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Lightning channel leases is going to be *very* big business. A massive amount of #bitcoin liquidity will need to enter the Lightning network to facilitate future transfer volumes and that requires incentives and doesn’t come for free. A true “risk free” interest rate is coming.
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On @saylor’s comments on the MSTR NAV Multiple and bullish speculation on the stock price:. BTC yield (10%) is “earnings”.P/E 50 (10%*50=500%) = 5x NAV.Grow BTC yield (P/E higher) = >6x NAV. He’s just told us the treasury is going to grow from $18B (+$42B) to at least $60B. At a.
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Why is @saylor moving so quickly with the ATMs even though he knows it’s impacting MSTR stock price (which is almost all of his net worth)?. Because he knows the U.S. government is going to buy bitcoin this year. Keep it simple.
Last week: "Ive known Michael Saylor for 20 years" - @EricTrump . Today: “I think Trump is serious about the bitcoin reserve.” - @Saylor.
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remember last year when one of the most powerful countries on earth, the one with the most hash power, banned bitcoin…and nothing happened.
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Tomorrow on the 15th anniversary of @halfin’s tweet, to the day, the Bitcoin ETFs will be approved. There are no coincidences. Here is his prediction on Bitcoin’s potential:
Running bitcoin.
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Wow! This is a big potential development in #Bitcoin Lightning channel and liquidity management. Instantly resize channels off chain. ⚡️
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1/ Just listened to @APompliano and @profplum99’s debate and have a few thoughts on Mike’s assertion that a nation state could attack the #Bitcoin network for only $7B per year. This is leaves off a lot of info and requires a long list of assumptions. Clarifying thread:.
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Price around that time in 2019 was ~$9k. Bitcoin is now $63k. @RussellOkung turned that $6.5M into over $40M (~7.1X) by asking to get paid in bitcoin and waiting a few years.
Very few people become wealthy from a salary alone. … unless you’re paid in Bitcoin.
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people are now passively buying bitcoin without even knowing they are buying bitcoin. this magnitude of this will continue to scale up. not priced in.
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Publicly dunking on bitcoin with old and unresearched takes on TV is really starting to turn people off. The tide is turning.
A bitcoin skeptic went on CNBC this morning. Watch @JoeSquawk's amazing response, "You said you did a deep dive, but it only took me 20 pages of The Bitcoin Standard to understand how this can help the unbanked" 👏🤣
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One under appreciated feature of bitcoin is that you can have a hyper-secure geo-diverse cold-storage vault and still deposit to it from anywhere in the world at any time. You don’t have to go to your vault, or risk it’s contents to deposit to it. Contrast this to gold, etc.
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Remember: Stuff like this was happening 2 MONTHS AGO and our leaders did nothing.
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Howard Lutnick is at 69% odds of winning the Treasury Secretary nomination.
There's a real chance Lutnick becomes treasury secretary. "CEO of investment bank Cantor Fitzgerald and Trump’s transition co-chair Howard Lutnick - is said to be "campaigning hard" behind the scenes to get the coveted role". This would make the bitcoin reserve all but certain.
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lol. it doesn't even exist.
MIT Chose Ethereum's PoS As Top Technological Breakthrough #Ethereum
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Imagine thinking the US can afford for bonds and stocks to continue to sell off at the same time.
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This is a clip of Ross Stevens and @michael_saylor discussing @NYDIG_BTC’s incoming pipeline of institutional clients interested in #Bitcoin and stats on their existing customer base. From the @MicroStrategy conference today.
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People don’t seem to get it. A scalable instant settlement network changes everything. Every industry will be impacted.
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The Euro is 22 years old. Bitcoin is 15 years old. The Euro will fail within a decade and Bitcoin will be a part of its failure.
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I’m just skeptical tons of people with coin who’ve been riding it for years are going to start to sell at 20k.
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Great reminder from Alex that if you store your bitcoin on Celsius, you don’t actually have any bitcoin.
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With Blackrock’s spot bitcoin ETF approval only days away, I’d like to remind you that their researches found in a 2022 study that the optimal portfolio allocation is 84.9% and the "certainty equivalent compensation required to *not* invest in BTC is close to 200%". You aren’t
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The deficits will accelerate. The debasement will accelerate. We’re dealing with exponential curves and people simply can’t wrap their minds around exponential growth. Bitcoin under a $1T market cap today is silly.
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Seriously though: a group of Bitcoiners should raise a multi-billion dollar fund to build a chip fab for the sole purpose of building sha256 ASICs in the USA. It would start off with a worldwide customer base that would probably even pre-purchase fab output.
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my wife got me this glass. I figured a new ATH day was a good one to break it out. cheers friends 🥃
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I’ve encountered 5+ random people that say @Breedlove22 & @saylor orange pilled them on the @WhatisMoneyShow “Saylor Series”. Legit.
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people are mocking Balaji, but his point is something very real that most still don't understand: . If people on the global internet collectively decided to pump BTC to $1M, they absolutely could, and it could happen extremely quickly. 21M is not a lot. When, not if.
Here are the remaining references, as Twitter has a limit on the number of links in one post. I am moving $2M into USDC for the bet. I will do it with Medlock and one other person, sufficient to prove the point. See my next tweet. Everyone else should
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This is quite the prediction from @MarkYusko and I agree that this time is different. “I believe this year, in 2024 — more money will be converted from fiat to #Bitcoin than the previous 15 years of Bitcoin’s existence.”
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What the Bitcoin Spot ETF means in simple terms:. Within 5 years most of the portfolios in the world will have between 1 - 5% in BTC because every money manager will have incentive to make it so. Bitcoin will be over $1M / coin. Keep it simple.
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Bitcoin is. Order, Predictability, and Scarcity. injected into a world of. Chaos, Uncertainty, and Excess.
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Collateralized Bitcoin loans will eventually have the cheapest interest rates in the market. Bitcoin is the best collateral and it can be liquidated at any time, 24/7, to protect loaned capital. The actual lending risk is close to 0%. More will understand this.
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I have a jiujitsu friend that died of COVID today. He moved a couple of years ago, so I haven’t seen him in person in a while, but he was in his 30s, physically fit, weight lifter, strength coach, great guy. Sharing because it’s reality. 🪦.
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why would you need to ban something that has no value?.
Argentina's Central Bank Bans Financial Institutions From Offering Bitcoin.
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I just rolled out @Strike API integration on @VIDAislive. Get paid USD in real-time when people watch your livestreams, call you (audio or video), or send you messages. This is the power of an open monetary network. Give it a try!.cc @jackmallers @r0ckstardev (thanks! ⚡️).
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