A Man Called Ov

Rep. Jeff Van Drew (R-N.J.) on Americans struggling with rising prices: "Maybe get yet another job"

On Squawk Box, Kalshi CEO Tarek Mansour struggles to answer why a Bad Bunny dancer -- who watched rehearsals -- betting on the Halftime Show predictions markets would not be considered insider trading. Sports was estimated to be 90% of betting on Kalshi during the NFL season.

I might be bear holed atm honestly The bull case for BTC is A) SoV without the high carrying cost of Gold B) A liquid non sovereign asset that can capture some % of FX flows with no counter party risk C) A trustless monetary system with certainty due to it being difficult to change The bear case A) Quantum computing will be able to break its encryption someday & because BTC is difficult to change this threat may not be being taken seriously as it needs to be and may not be fixed quick enough, there is a problem with what to do about Satoshi’s coins.. B) It failed as a payment network because of a myriad of issues (clunky, expensive, no way to retrieve lost coins) C) AI is sucking up so much electricity, providing all that power to secure BTC feels like a misallocation of resources. Miners may switch to the data server business D) Lot of arguing over whether or not BTC will be worth the cost of mining without the block subsidy. At best we don’t know. Bull case arguments are all great things & are all great reasons to love BTC. For the bear case arguments to be fixed A, B, & D would all require huge changes to be made to BTC but that’s also a huge part of BTC’s selling point. I don’t think a hard fork is a big deal, but Bitcoiners do. Regardless, these aren’t minor problems, they are going to require big changes to fix & Bitcoiners are complacent & so resistant to any potential change it’s very much worth being concerned about. C might just fix itself with time, but it would create sell pressure. I dunno 🤷‍♂️ seems to me the bears have a better argument for the time being until Bitcoiners get serious about dealing with issues that are going to require some big changes. Instead they are arguing about porn or whatever.

The median age of a U.S. homebuyer is now 59, per Apollo

I've recently been helping a zillennial friend in Canada house hunt and I cannot tell you how radicalizing the experience has been. Absolute shitholes going for 2x their worth. Houses listed at 4-5x what they were bought at just a few years ago. Swarms of investors clamoring to bid up anything remotely decent. Boomers confidently rejecting even perfectly reasonable offers because they know they can get a few dollars more from some indian caravan pooling 10 incomes to buy their single-family dwelling. The most recent house he went to view had been on the market for less than 3 hours when he contacted the agent and already had 5 blind offers on it he was expected to compete with. Young people have been systematically robbed of the opportunity to own a home - something that was once an anticipated, reasonable, and common milestone in life. The ripple effect of generational and social consequences this has had cannot be overstated.