poor pay ri¢h

OMG huge thanks ⁦@marcocarola⁩ for playing my track “That Was The Night” at Pacha Ibiza 🖤🎶🌙 youtu.be/xLWaaUX0590

@ChartGuys @1ChartMaster Since it’s inverted. Red=green in this instance. Red candles are going up in the inverted chart.

@1ChartMaster Fridays candle shouldnt be red if correctly inverted

$QQQ inverted chart. Can you see it now?

@jackschwager Looking forward to listening on my drive tonight!

The audio version of Stock Market Wizards (the only MW book which has not had an audio version till now) has just been posted for sale. Would like to know how listeners like the new narrator (the previous narrator has left the business). Would you like to have the new narrator also narrate the upcoming Market Wizards The New Generation book? audible.com/pd/B0GSSBBWPZ?…

@Tekeee Not in Canada.

If you purchase Bitcoin at $126,000 and it drops to $68,000 you can sell it and buy it back 5 seconds later you still have the same one Bitcoin But you can realize a capital loss of $58,000 for tax purposes

@PeterSchiff @TFTC21 Is your tokenized gold of the Ethereum blockchain?

@TFTC21 That's why the future is tokenized gold. That solves both problems at once. No need for Bitcoin.

Stanley Druckenmiller just told Morgan Stanley that stablecoins will power the entire global payment system within 15 years. He also said Bitcoin "wasn't needed" as a store of value. He's half right and completely wrong at the same time. Stablecoins ARE more efficient than legacy payment rails. The market crossed $315 billion, up $180B since early 2024. Bessent projects $3 trillion by 2030. No debate there. But calling stablecoins the future while dismissing Bitcoin misses the point entirely. Stablecoins are tokenized fiat. They make the dollar faster, not better. They still inflate. They still get debased. They still depend on the same central banks that destroyed 99% of the dollar's purchasing power since 1913. Making a broken currency more efficient doesn't fix the currency. It just helps you lose purchasing power faster. Bitcoin fixes the money itself. 21 million. No CEO. No reserve requirements. No government that can print more when spending gets out of control. Druckenmiller bought BTC around $15,000 in 2020. It's $71,000 today. Nearly 5x on an asset he says "wasn't needed." The payments system needs fixing. But the money needs fixing more.

@BorisJohnson Bitcoin is not a Ponzi scheme. A Ponzi requires a central operator promising returns and paying early investors with funds from later ones. Bitcoin has no issuer, no promoter, and no guaranteed return—just an open, decentralized monetary network driven by code and market demand.

@RichardMoglen Yep. Kinda like the market right now... Is it still winter or is spring coming!

Snowing in Seattle in March... was hoping for early spring

@Truecrypto Reading the org replies to this post sums it up. Nothings changed

6 years ago today I told people to buy Bitcoin at $6k and put it in cold storage. Back then it was “going to zero.” Today people say the same nonsense at $60k. The price changes. The psychology never does.

@RealSimpleAriel You have been shitting on Bitcoin for the last 2 months. Even part of the FUD crowd. Now you think it’s a good time to buy. Not everyone is a trader and many have been DCA for years without selling Investing for the future. You either believe in it or you don’t.

$BTC $ETH relative strength notable these past two days. On watch for the classic Stan Weinstein 4B setup. - Must have had a major decline. - A small base forms on the Daily - It should have wiggle room to move higher 13-20% is about the most we can ask for since it's still in a downtrend. Room to the 100-150sma. 80-86k is the most we can reasonable ask for.

@pete_rizzo_ He buys OTC won’t make any difference on the price. Nobody will notice.

FACT: MICHAEL SAYLOR’S STRATEGY HAS RAISED ENOUGH MONEY VIA $STRC TO BUY OVER 5,000 BTC IN JUST 3 DAYS $370,000,000 WORTH OF BTC ABOUT TO BE REMOVED FROM THE SUPPLY FOREVER 1,000,000 BTC IS IMMINENT 🔥

@creserve25 @ShakePryzby1 You can always buy deep ITM puts a few months out and won’t get that inflated IV.

It's great that you're still here and sharing those scars. The issue with puts is the inflated IV which will work against the position even as markets sell off unless the sell off is substantial, otherwise the wins are too small to justify the whole thing. Being short thebindices circumvents that and nowadays we've got micros.

In 2015, we were chopping for months and months. I was trying to short the hell out of $SPY break of 200sma. (1st chart) Breadth and market conditions had been deteriorating for weeks. I had my biggest short position I've had at the time at the first circled area. Took a nice chunky loss on it. Then on August 11th, China unexpectedly devalued the yuan in the largest single day devaluation in decades. This signaled global demand was in trouble, emerging markets got smoked and the dollar ripped. If you notice on the circled/arrowed candle -- that is August 12th the first day the market was reacting to this news. I said, "oh shit the catalyst is here!!" and began to get short once again that morning, only to have my face ripped off. The market initially shrugged off the news thinking we'd remain range bound as we had for months. "We're going to be in this chop forever." The buy the dip crowd had been conditioned for months at that point. Then the following Monday, we took out that August 12th low which perfectly aligned with the 200 day & hit an airpocket in a fast move lower. I missed the fucking short!! Was sick to my stomach. The trading lesson was to attack market shorts with puts and not levered stock shorts with tight stops. ANYWHO, equity markets reacting to this Iran news and the possibility of it sticking around longer than anticipated / what it will do to inflation / Fed's abilities to cut. Couple that with the "we're going to be in chop forever" take... I am not a doom and gloom guy in the slightest, this is all just referencing a past trading structure I traded.. but I am watching out for that air pocket 🧐

@scottmelker Bitwise NOT bitmine.

ETHEREUM FOUNDATION TAPS BITWISE $BMNR TECH FOR $140M $ETH STAKING INITIATIVE

@TheShortBear @TedHZhang People that disagree with you on X are mostly day traders. They only watch whats happening today on the chart. Of course that’s fine, but what I don’t get is when they try to contradict your investment thesis because of what the chart says today, Ignoring of what it could become.

The contrarian take doesnt mean you play mean-reversion. it means having a different view over the future where things can go much further. See NVDA for example with a view that AI could become much bigger than anticipated and NVDA being the bottleneck. Its a contrarian view creating a trend trade. Many trades can also start as contrarian and turn into a full cycle trade through the trend. I dont think Druck ever saw what he did as contrarian to price but to common belief. He wants to find the biggest mispricings between current perceived reality and odds x new potential future. its an EV calculation to a certain degree with the loss being small loss or sideways vs major upside.

As long as the majority disagrees with me, there is opportunity to make profitable trades. The day everyone agrees with me is the day I’ll join them in their despair. By design, I only win when most are wrong. Life is full of opportunity for those willing to challenge common belief through data-backed curiosity. When the goal is truth, and thinking moves to the second order of game theory, the real imbalances reveal themselves. The goal is not to confirm what is already believed, but to uncover what reality eventually forces everyone to see. Like Druckenmiller would say, Investing is about making the future visible before it becomes obvious.

@sunny051488 @Blue_CollarBTC Totally!

@Blue_CollarBTC Why would there be taxes for buying daily for years if there’s no selling?

“DCA Hell” is real 😵‍💫 If you bought BTC daily for years, tax season can become a nightmare: • hundreds/thousands of lots 📊 • broken cost basis 🧩 • FIFO mistakes ⚠️ • overpaying tax by accident 💸

@RichardMoglen Sounds good 👌

Just wrapped this with Phil. One of my favorites. We covered multiple trade case studies, routines, entries, how he structures options trades, A+ setup critieria he looks for... Looking forward to getting this out there

@SohamBhilare95 @VitalikButerin What L1 does XAUT run on?

"A crypto whale just converted $1.94 million of ETH to tokenised gold XAUT today. On chain. Confirmed. They booked a $60,000 loss on ETH to make the switch. Paying a $60,000 loss to exit crypto for gold is not a trade. It is a conviction call. When people pay to exit an asset they believe in — the asset they are moving to is telling you something."

Finally, the block building pipeline. In Glamsterdam, Ethereum is getting ePBS, which lets proposers outsource to a free permissionless market of block builders. This ensures that block builder centralization does not creep into staking centralization, but it leaves the question: what do we do about block builder centralization? And what are the _other_ problems in the block building pipeline that need to be addressed, and how? This has both in-protocol and extra-protocol components. ## FOCIL FOCIL is the first step into in-protocol multi-participant block building. FOCIL lets 16 randomly-selected attesters each choose a few transactions, which *must* be included somewhere in the block (the block gets rejected otherwise). This means that even if 100% of block building is taken over by one hostile actor, they cannot prevent transactions from being included, because the FOCILers will push them in. ## "Big FOCIL" This is more speculative, but has been discussed as a possible next step. The idea is to make the FOCILs bigger, so they can include all of the transactions in the block. We avoid duplication by having the i'th FOCIL'er by default only include (i) txs whose sender address's first hex char is i, and (ii) txs that were around but not included in the previous slot. So at the cost of one slot delay, only censored txs risk duplication. Taking this to its logical conclusion, the builder's role could become reduced to ONLY including "MEV-relevant" transactions (eg. DEX arbitrage), and computing the state transition. ## Encrypted mempools Encrypted mempools are one solution being explored to solve "toxic MEV": attacks such as sandwiching and frontrunning, which are exploitative against users. If a transaction is encrypted until it's included, no one gets the opportunity to "wrap" it in a hostile way. The technical challenge is: how to guarantee validity in a mempool-friendly and inclusion-friendly way that is efficient, and what technique to use to guarantee that the transaction will actually get decrypted once the block is made (and not before). ## The transaction ingress layer One thing often ignored in discussions of MEV, privacy, and other issues is the network layer: what happens in between a user sending out a transaction, and that transaction making it into a block? There are many risks if a hostile actor sees a tx "in the clear" inflight: * If it's a defi trade or otherwise MEV-relevant, they can sandwich it * In many applications, they can prepend some other action which invalidates it, not stealing money, but "griefing" you, causing you to waste time and gas fees * If you are sending a sensitive tx through a privacy protocol, even if it's all private onchain, if you send it through an RPC, the RPC can see what you did, if you send it through the public mempool, any analytics agency that runs many nodes will see what you did There has recently been increasing work on network-layer anonymization for transactions: exploring using Tor for routing transactions, ideas around building a custom ethereum-focused mixnet, non-mixnet designs that are more latency-minimized (but bandwidth-heavier, which is ok for transactions as they are tiny) like Flashnet, etc. This is an open design space, I expect the kohaku initiative @ncsgy will be interested in integrating pluggable support for such protocols, like it is for onchain privacy protocols. There is also room for doing (benign, pro-user) things to transactions before including them onchain; this is very relevant for defi. Basically, we want ideal order-matching, as a passive feature of the network layer without dependence on servers. Of course enabling good uses of this without enabling sandwiching involves cryptography or other security, some important challenges there. ## Long-term distributed block building There is a dream, that we can make Ethereum truly like BitTorrent: able to process far more transactions than any single server needs to ever coalesce locally. The challenge with this vision is that Ethereum has (and indeed a core value proposition is) synchronous shared state, so any tx could in principle depend on any other tx. This centralizes block building. "Big FOCIL" handles this partially, and it could be done extra-protocol too, but you still need one central actor to put everything in order and execute it. We could come up with designs that address this. One idea is to do the same thing that we want to do for state: acknowledge that >95% of Ethereum's activity doesn't really _need_ full globalness, though the 5% that does is often high-value, and create new categories of txs that are less global, and so friendly to fully distributed building, and make them much cheaper, while leaving the current tx types in place but (relatively) more expensive. This is also an open and exciting long-term future design space. firefly.social/post/lens/8144…

@maapftf @PeterLBrandt @PeterSchiff @grok @grok what about bitcoin. Start from 2010 until now for all 3

@PeterLBrandt @PeterSchiff @grok 😂, what an idiotic take, Hey @grok, between the S&P500 and gold, which has performed better since the year 2000?

This was the 1980 top in Gold Do you recognize it on today's chart???? Gold did not make a new high for another 28 years What say you @PeterSchiff ??? Serious question by the way Hey @grok, what has been Gold's annualized ROR since Sep 1980 #GOLD $GC_F

@betirement @grok isn’t tax deferred in Canada as well

STRATEGY'S STRC IS PERFECT FOR YIELD-SEEKING RETIREES. STRC pays monthly cash dividends- at an amazing 11.25% rate. STRC maintains stable share value (near $100/share) so retirees don't need to ride out volatile swings in their principal. STRC's dividend payments are Tax Deferred! You pay no tax when you receive dividends.

@BitcoinMagazine @Duelbits this chart doesn't make sense at all. If you count from previous high to low, none of the bars equal 23. You are just randomly counting bars and circling on chart.

JUST IN: Historically, Bitcoin has always bottomed ~23 months after its previous all time high. We are now at 23 months since the last ATH 👀 Bullish! 🚀

@SBF_FTX @grok what’s KYC

The biggest question for crypto: will AI use it? Say an instance of ChatGPT, or Claude, wants more compute. Does it pay by wire transfer, credit card, or crypto? On the one hand, trad finance doesn't work well for AIs. Like—how do they KYC? They have no passport, address, social security number, or even name. Crypto works much better—it's already digital, it's permissionless, AIs can already query the blockchain, etc. On the other hand, we might see an 'agent' model: each AI is treated as an agent of some specific human, and that human does the KYC, is responsible for what the AI does, etc. (Which brings up a related question: who is legally responsible for what an AI does?) Either way, some work needs to be done to plug the world of AI into the world of trading and payments. Either that work will be natively digital and crypto-based, or it'll be reliant on a human 'master' for the AI. Which direction it goes in has huge implications for the world. One of those is the future of crypto.

@cryptorover @grok what is Jane street?

All of you have been giving CZ hell for the past six months, and it turns out it was Jane Street the whole time... We own this man a apology!