> @POTUS@realDonaldTrump: Please pardon the Samourai Wallet Developers. They never controlled or transmitted user funds. If they 'conspired' to do anything, it was to protect the privacy of regular bitcoin users.
> billandkeonne.org
Free @SamouraiWallet & @SamouraiDev
I Bought $250,000 Worth of Physical Nickels
No, that’s not a typo.
That’s 5 million coins. 55,000 pounds of American metal stacked in boxes from a local bank vault — an asset the government literally can’t print anymore.
Most people would call it insane.
But let me explain the
Powell warned last week: “if the Fed ever loses the ability to pay interest on reserves, it loses control of interest rates.”
Now look at the Genius Act—sold as the savior of the Treasury market. It allows bank reserves to back stablecoins…but forbids those stablecoins from paying interest.
That means reserves could migrate off the Fed’s balance sheet into stablecoin structures that can’t transmit the policy rate to the broader market participants.
Powell says losing the IOR channel = losing rate control.
The Genius Act effectively builds that outcome into law.
So the same legislation that’s supposed to stabilize the Treasury market also seeds a second, interest-free (from the market participants PoV) dollar system.
If that system scales (and it seems to be aggressively moving that way), the Fed can’t set the marginal price of money—stablecoin demand and use potential will. Especially as it relates to Bitcoin (with more time).
H/T @LukeGromen
Pretentiousness
For years, we’ve mocked a certain attitude whenever it popped up on our timelines: pretentiousness.
That snobby, hollow posturing with zero substance underneath.
The “I’m here to save ___” vibe. The appeal to authority. The inability to laugh at themselves.
Every subgroup in Bitcoin has it to some degree—but one group, until recently, got a free pass. We put them on a pedestal for years. We still consider them vital to Bitcoin, but we’re slowly realizing, once the topic drifts outside their lane, they are retards. But let's not get ahead of ourselves.
Macro Folks:
The reigning champions of saying nothing for hours while making it sound profound. They put listeners into a trance, convincing them they’ve just heard deep wisdom—when in reality, it was air. Many are pretentious fucks mostly because they believe the image they see in the mirror: suit, tie, “important” face. A few can actually take a joke, the biggest joke being that they’re experts in a system that makes no sense.
Traders:
They were the macro guys before macro guys were a thing. Their pretentiousness has “adapted” over time. It's there, but they have learned to hide it. They mostly emerge during bull runs like seasonal wildlife, then hibernate in bear markets—deleting old tweets, dodging margin calls, and repaying borrowed money by borrowing more money.
Influencers:
The podcasters, book writers, and content creators. Many leveled up from the pleb tier. Their main pretentious skill? Copy-pasting anything that will go viral. Their #1 pretentious weapon is blocking people—though, thanks to Elon’s changes, that weapon lost some bite.
Plebs:
Generally low on pretentiousness, but few derfinitely try way too hard to out-pleb everyone.
“Oh, you’re on keto? I only eat elk I hunted with a throwing axe.”
“Oh, you’re running a node? I am the node.” Whatever that means.
Memers:
The mirror of the culture. The clowns. The weirdos. Cats, dogs, puppets, Liotas. Low pretentiousness, low IQ—and that’s often a blessing, because it keeps them safe from scams the macro/trader/influencer types push. Their Venn diagram sometimes overlaps with other subgroups.
Miners:
Mysterious, like dwarves from Lord of the Rings. Few know much about them, except they always carry ear protection—possibly to block out everyone else’s noise.
Devs:
The backbone of Bitcoin and the reason for this tweet on pretentiousness. Once basement dwellers, now rockstars—conference stages, podcasts, TV appearances. Every word they say was debated for months. For years we put them up on a pedestal and now we are paying the price. Fame isn’t for everyone, and some egos are buckling under the spotlight. Knowing code doesn’t make you an expert in everything buddy, why are you commenting like an expert for the geopolitical changes in Uzbekistan like wtf. Stop pretending you're something that you are not. You're flawed like us, it's time for your dev bubble to burst. We have ChatGPT for technical questions now, calm down.
The devs, still the most important subgroup of individuals in Bitcoin but now we know: a few of them can also be pretentious retards. And it's time to make fun of those few, as we do with everyone else.
Bitcoin must ossify before the socialists come, some of whom will become developers.
Their state loving ideology, especially if outnumbering those who believe in freedom, will subvert the direction of bitcoin and turn it into fiat.
It has somewhat begun. Ossification, not reeducation of socialists, is the only way I see this playing out and succeeding.
Gold hit $4k today. This is by far the most important macro story right now. Eventually Bitcoin will steal gold's lustre and position as preeminent non-sovereign store of value, but, today, pour one out for the goldbugs.
@S_Mikhailovich@NealFlesher@LawrenceLepard Gold’s role as a store of value has never been tested by a type of money with less debasement than gold that also moves faster than fiat.
Thus, gold’s monetary properties in this upcoming environment are a thesis, not a certainty.
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