Current Events May 2025
https://x.com/BitcoinMemesIRL/status/1927180295138103434
A few days ago Saylor was once again asked to provide "proof of reserves" for the Bitcoin that Microstrategy allegedly owns, and once again the answer is a resounding "no". Funny thing is that I agree with Saylor on this; publishing addresses of massive bags owned by your company is not a good idea, and also falls well beyond the requirements of the regulators. The right to privacy is important, even for a public company on the stock market.
Notice how every single comment on this issue doesn't do the ONE THING Saylor tells everyone to do: ask AI what the risks are for publishing these addresses. Everyone just wants to chime in with why MSTR should do it without even the most cursory research to back up the opinion. The man children that want Saylor to publish quite frankly do not care if it's a risk because they feel as though their MSTR bags will be more secure with the addresses known (which is obviously not correct).
It's funny because the link between MSTR and BTC is fueled by delusion. It's already a stated fact that Saylor is "never selling". That means that when number goes down they aren't going to do buybacks to boost it back up and maintain this delusional peg that investors seem to think is real. Saylor is doing what ever shitcoin does: printing a shitcoin and tricking people into trading their Bitcoin for it. Next bear market is going to be a thing of legend on all fronts considering how many other companies are currently at the ground floor of adpoting this Strategy.
The biggest revelation in all this is a simple fact I've been preaching for years now: Bitcoin is 100% private. Imagine thinking Bitcoin is 100% tracked when you can't even confirm or deny that MSTR owns 2.5% of the entire supply. Bitcoin is very hard to trace. It's the KYC/AML banking system that makes it even possible to track what people are doing. Those with a keen understanding of UTXOs understand this full well. Moving BTC from one wallet to another could be transference to a new person or to the original party, and the only way to know for sure is to watch where the money goes and wait for that wallet to get KYCed within the legacy economy... and even then there's no way to know because it's possible to share wallets. None of this even considers the extensive privacy tools available to the market.
https://x.com/UnderCoercion/status/1927885141059260768
Malkovich Malkovich Malkovich ???
Market is dipping a little after the big Bitcoin conference everyone was pumped about. No surprises there; sell the news as they say. What was a bit more surprising than that is how much stablecoins got brought up in a sea of maximalism. I bet that was pretty damn annoying for a lot of people.
What exactly do people think stablecoins are going to accomplish anyway? Like yeah, there's a little value in the ability to peg your digital value to USD, especially if you're a business... and it's also fun to watch banks/governments squirm when users are getting 10%-15% yields on their savings accounts and the legacy system can't even come close to competing with that. But all the real value is in the volatile asset. Without that stablecoins are less than worthless.
The big takeaway here for me is that THERE WILL BE BLOOD when someone invents an algo stable coin that is stable on its own merit (aka not pegged to USD but rather its own elastic policy). I've thought about this quite often over the years, but it's clear to me that anyone who invents that technology is in extreme danger. That's the kind of thing the CIA will blackbag you for. A real algo stablecoin not pegged to USD is the biggest existential threat to the legacy economy by exponential margins. If someone figures out a superior solution: the entire fiat system goes up in smoke after 10 years. Pseudo stability is the only advantage fiat has left.
Bull market back on?
Courts are saying Trump's trade war is illegal, which is kind of funny to me for a couple of different reasons. First of all... what "economic emergency" are we talking about? The tariffs are the thing that created the emergency if anything. Second... Trump literally doesn't care. It was obvious the entire time that this nonsense was temporary and his cronies have been insider trading the flip-flopping policy.
My knee-jerk reaction to this is that legally blocking the tariffs was all part of the plan... and if it wasn't part of the plan it can be easily pivoted around. Tariffs were a dumb idea. DOGE was a dumb idea that didn't even make a dent in government spending. It's all smoke and mirrors. These actions are just being used to justify other actions. It was never ever about making America better. OBVIOUSLY. And now people are finally starting to wake up to that fact.
https://x.com/jeffreyatucker/status/1927797464913911925
No, I don't remember that because I'm not a gullible child.
Imagine being a fully functioning adult and believing a politician is actually going to fix something. Do we not live in the same reality? When has a politician literally ever done something for you without first enriching himself and the people around him? People need to wake up and stop putting their faith in this magical solution where all they have to do is vote once and a while and things will get better. Stop voting. Stop participating in this nonsense. Figure something else out. That's why my focus has been on crypto for the last 8 years.
https://x.com/TraderMercury/status/1928085765168259334
Bull market is still on, clearly.
We're in for some chop but that's fine.
Moon cycle is still doing its thing which is funny.
New moon was Monday and full moon on the 11th of June.
Wait it out and lets see what happens.
https://x.com/micsolana/status/1927443819584176632
LoL!
Everyone now fully understands and admits that Biden was not making any decisions during the end of his term. So who issued all those pardons? It sure as shit wasn't Biden. These people pardoned themselves and everyone close to them. Blatant corruption is legal now. Crime season started early and people didn't even realize it.
Conclusion
It's been a fun ride this month. The peak of this bull market is going to be a thing of legend considering how many corporations are putting BTC on their balance sheet and issuing convertible bonds to buy corn off the open market. Of course that means the bear market will be just as legendary. Volatility breeds volatility.
I wrote a post just a short time ago about how everyone thinks they are entitled to any information they want. They think it is something that is owed to them out of "fairness" or some cosmic right. It's pretty laughable. It's scary how people put convenience before security when security should be paramount these days.
If you think Biden administration was corrupt, you have not seen anything, this new administration corruption level is Banana Republic level.
I have thought a lot about some sort of stable coin as well that could out pace inflation but was tied to an ever expanding revenue stream. I have really racked my brain on it and don't have a great solution.
Possibly a mechanism like the Hive Backed Dollar but instead of paying the funds as earnings it was utilized to slide the buy volume up to a slightly higher price over time so the price keeps going up.
The underlying system would always have to keep expanding and generating more revenue.
Work has to be done or it has to track back to energy or be onboarding more and more active participants and not be viewed as a ponzi or sound like a ponzi.
Me brainstorming has me thinking if there was a sweat coin type economy were people were getting paid for moving around and watching ads and various things like playing games or sports betting but in a lot of ways that already is the HIVE ecosystem. Really i could see it being done as a debt against HIVE like HBD but the price was just set to steadily increase relative to a dollar. And then have similar debt ratio fail safes. The number would generally be up and to the right.
JLP is sort of like that in a way. Seems like it relies on the success of Jupiter and Solana and the expansion of liquidity on Jupiter.
https://www.coingecko.com/en/coins/jupiter-perpetuals-liquidity-provider-token
It's no secret that algo stable coins like HBD make Hive more volatile.
The stability of HBD is outsourced into increased volatility for Hive.
What we require is a volatility derivative that stabilizes the main token.
Basically if the price of the main token gets too high (above targeted projections) then you print the main token out of thin air and use it to buy up the volatility token. And if the price of the main token gets too low you print the volatility token out of thin air to pump the main token. The only question becomes how to exactly manage the targets and the incentives to provide liquidity.
This is the main solution I've been able to think of to provide elasticity to the market.
Unfortunately that's not realistic and exactly why the legacy economy is doomed to fail.
These assets need to be able to find stability and allow the system to get smaller while still operating as intended. Otherwise it's just an ever-expanding cancerous ponzi doomed to collapse.
It's tough to solve for sure because it takes so much energy to produce any value for anything really.
lot's of time, energy, and also a lot of risk
the thing you build could end up being completely worthless
not cool!
Is HBD the little engine that could? 😅
I wouldn't bet the house on it. More than likely when they finally put all the rules and regs in place it'll get shut down for being a ponzi scheme, confiscated by the US government to go into the crypto reserve #2 and sold off to finance the crypto bitcoin reserve operation, which is crypto reserve #1.
A stable coin not pegged to the US dollar... What's stopping Hive from doing that? Why is HBD pegged to the dollar anyway? If anything, it seems like it should be pegged to BTC.
Pegging debt to BTC is exactly how ThorChain went bankrupt a couple months ago.
This is why the value of debt always needs to trend downward or the entire system breaks.
Saylor is the new Madoff, and the next bear will show this to be true. Its amazing
That said...
Dude, You are getting political.. I love it! hahahahah
This is fuel for our show!!
Are we on this Wednesday? Have your lawyers drawn up the docs?
Corruption does not bring any good thing including on cryptocurrencies
That's what I've been saying. Everyone is so focused and excited that crypto's are finally getting light shaded on it but the shear amount of corruption taking place in the background is ultimately going to hurt it unless the next administration is just as corrupt as the current one.
Can they not prove they own that much Bitcoin through a zero-knowledge proof? But probably it is not worth it to do so.
That was a fun read.
Thanks!
You must be bored out of your head.
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