gloman

@SenWarren That’s crazy framing. The sene of entitlement to call out one person and take his money for the benefit of others - regardless of what you think is the nobility of the cause - is insane government overreach.

Jeff Bezos has $222 billion. If he paid my wealth tax this year, we could fund insulin in America for everyone who needs it plus free school lunch for every kid in Texas—and have plenty of money left over. And Bezos would still have $215 billion dollars to spare.

@Polymarket * People on the internet overreacting to a trend think bitcoin is more likely to....

BREAKING: Bitcoin is now more likely to crash below $40,000 this year than reclaim $100,000. polymarket.com/event/what-pri…

@Dkarbowitz @raqisright Do you often wait 45 minutes for a cocktail? That would be exceptionally weird.

@raqisright Is it really that much different from paying $25 for a cocktail? For better or worse this has replaced the bar as a social function. In that capacity it works where food delivery cannot. I'm just giving those who judge reflexively something to consider.

Nothing screams NPC like spending your free time standing in a 45 min line for a $19 ice cream cone

@Simon_Ingari For people who think there is an excellent point made in this story, do you also think the employee should leave their personal phone at home when they are at work?

Boss: We tried calling you 12 times last week. Employee: As you know, I was on PTO. Boss: Yes, I am aware, but you do have a work phone for a reason. Employee: My work phone stayed in my desk while I was on vacation. Boss: And what is the point of us providing you with the phone? Employee: To contact me during work and for me to stay connected while I'm on business travel. Boss: You should always have that phone on you. Employee: And I do, while I'm working. Boss: (Shakes head in disbelief) Employee: Do you think having a work phone means that I'm now on call 24/7? Boss: It means you are available to answer it when it rings. Employee: So yes? Boss: Only when it rings. Employee: So, the phone is intended to keep me connected to work around the clock? Boss: I would expect you to always have your phone on you, even while on PTO. Employee: My personal phone, yes. That is why I keep two phones and don't make my work one my personal one to keep the separation between my time and the company time. Boss: Silence.

@TedPillows Does this account for ETF holders? Or should this metric be thought of differently than past cycles?

Every $BTC cycle bottom has happened 15% below its Long-Term Holder Realized Price. Right now, it's sitting around $40,300. A 15% dip means Bitcoin will bottom around $34,500. I don't personally think we could go this low.

@ShowtymeZack Your measure of greatness captures consistency while talent captures peak ability without accounting for volatility and risk (ie frequency of bone headed plays). Which in many ways makes a lot of sense.

Greatest QBs of all time in my opinion: 1. Tom Brady 2. Peyton Manning 3. Joe Montana 4. Patrick Mahomes 5. Aaron Rodgers 6. Drew Brees 7. Brett Favre 8. Dan Marino 9. John Elway 10. Bart Starr Most talented QBs of all time in my opinion: 1. Aaron Rodgers 2. Patrick Mahomes 3. Dan Marino 4. Josh Allen 5. Lamar Jackson 6. Brett Favre 7. Michael Vick 8. Tom Brady 9. Peyton Manning 10. Fran Tarkenton I describe “Greatness” as their accolades (super bowls, MVPs, records, etc.) I describe “talent” as their abilities (arm talent, accuracy, speed, etc.) basically anything that would defenses I believed would fear the most when those QBs had the ball in their hands.

@SWENGDAD Confidence is calling out incompetence. I used to pay w/o looking but the number of times the bill has a mistake is shocking. Waiters bring the bill for the wrong table. Charge for things not ordered. Stupid mistakes. Why ignore and assume the server is not careless?

@StanleyRoberts @tbwalker70 There’s another thread along the lines of “why did some jerk leave his cart blocking the customer service line while he’s off buying a hot dog?! What’s wrong with people today!” Around here, there’s no quiet space for a shopping cart to sit. Common sense says keep it with you.

I leave my cart in a logical place, away from active lines, or in a closed line. In my ten years of shopping at Costco, no one has ever stolen anything from my cart. If they were to steal something, I would simply go back and pick up another item that’s on my receipt. If the food court is on the outside you leave it in your line of sight. It’s not rocket science, people.

Please explain the logic of bringing your shopping cart into the food line ay Costco. Is it lack of common sense or a simple case of me-ism?

@VinnyLingham Not a Strategy devotee, but I can’t avoid pointing out there are also a large number of exceptionally arrogant and overly confident people who have sustained a high degree of success.

“God himself couldn’t sink this ship.” - Titanic “We’ve had flawless launches. No reason this one will be different.” - NASA before Challenger exploded. “The reactor is perfectly safe.” - Dyatlov, mins before Chernobyl blew apart. “Strategy is indestructible” - Michael Saylor

@Chilearmy123 One person bought the exact high and is complaining and that’s the entire summary of the normie view of bitcoin? No, it’s not. The guy who bought at $125k a month ago and sold at $80k before the climb back to $90k is the source of the hate. Every time.

Had a conversation with a friend who passively put money into Crypto 4 years ago Put $6k into ETH: Down $1,000 Put $4k into BTC: Up $750 If he had put that money into the S&P, he'd be up $5,000 This is why normies hate Crypto

@johnloeber Founders are selling. They want/need notoriety. Selling product. Selling employment. Selling to investors. All much less true for finance. Anonymity is a positive in a world where money is made by quietly being ahead of the masses.

An interesting thing about tech vs. finance is how much cultural power founders have. You could pull $10M/year at Citadel or DE Shaw and ~nobody would know who you are Founders? you can pull zero revenue but post about the dream of greatness to achieve moderate celebrity status

@StonkChris Has anyone ever suggested that? Price was a few hundred 10 years ago. Applying that forward is 20m+. Haven’t seen that call anywhere credible.

If my entire portfolio was in Bitcoin right now…I’d be getting very nervous. Since most are too scared to say it, I’ll go ahead and say it: Assuming $BTC will deliver the same decade-long ROI going forward as it did in the last 10 years isn’t conviction…it’s delusion.

@BitPaine If bear markets can happen when value doesn’t go down, what is the definition of bear market?

there is an argument that 2025 was in fact a bear market that was attenuated by treasury company demand

@jakewoolf Impractical garments that demonstrate conformity are not a new thing.

Genuinely wonder sometimes about the psychology of finance dudes ALL wearing vests. They don’t just look bad, but are impractical garments that provide barely any warmth. Add in the embarrassment of being dressed like everyone else in your office and I just don’t get it

@tedfrank While I agree overall many forget that the actual cash flow repayment on a 2.6% interest mortgage is much greater when you factor in principle repayment. If you can afford to invest long term (market/equity risk) it makes sense. Arb-ing a point of interest... maybe not.

Banks are offering risk-free interest rates of 3.8% to 4.5% for deposits. Someone offers to let you borrow money at 2.625%. And it’s tax advantaged somehow: you can deduct the interest on your Schedule A. Repayable early without penalty. How much should you borrow? Answer: as much as humanly possible. A trillion dollars if they’ll let you. If you’re not thinking about an early mortgage repayment like that, you should not be advising clients about money.

@matteopelleg -9% for a week and +80% over a year. One big intraday move. Most people don’t care about or track leveraged traders and alts. They aren’t on X or thinking about liquidations. They probably don’t even notice what happened yesterday other than “tariffs made (all) markets go down.”

days like yesterday is why most people will never buy bitcoin

@BrianFeroldi And about $400k in purchasing power.

@ChrisJBakke I agree with point you are making here but it’s worth noting a large number of those 1 in 100 live a trivially short distance from this event.

Any time you see a packed hotel that’s $1000/night or event tickets that are $10,000/each, remember that 1 in every 100 US households has a net worth of $15M+ and the other 99% love credit cards

@mythology_macro @ChrisJBakke @GeneInvesting 99th percentile is the level of worth that is exceeded by 1% of people of households. This chart does not seem to indicate that the number is the average of people on the top 1%. Things very easy to validate with a google search.

@ChrisJBakke @GeneInvesting That’s just the average within that percentile it doesn’t imply 1/100 are at that level, sub percentile increments could be much higher and bring the average up

@Cointelegraph August looks worse. More double digit losses. Worse median. Equal number of losing years. Clinging to 2017 to keep the average up.

⚡INSIGHT: Historically, September has been the worst month for $BTC. Even the four green Septembers have never gone over +8%.