This is one thing that grates on me. If you're a Bitcoin thought leader these days it's all about the SoV narrative. Don't box yourself in. With LN, Bitcoin can be both an SoV and an MoE.
Imagine the greatest method of exchange in the world. It would have to be super fast, secure, and anonymous. Now imagine the greatest store of value in the world. It would have to be secure, scarce, accepted globally and not controlled by a central party. All roads lead to BTC.
What we call the Bitcoin now, will become the base layer. What we call LN now, will be called simply Bitcoin. In other news, Lambos are down to 23 BTC, w00t!
There will come a day when a Lambo is sold for a single BTC. What's in your wallet?
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After reading @FriskyFoxDK's latest announcement in the DFK Discord I still believe the optimal strategy for capital allocators is to participate in the gardens, bank, and questing. Depending on stack size and liquidity I recommend gardens -> bank -> heroes in that order.
If you might need your capital right away, I would just start with the bank because there's no penalty on withdrawing whenever you want. If you don't mind being allocated for a month or more, the gardens are a great place to collect rewards.
If you're slightly more well capitalized and thinking long-term, heroes are the next logical step to juice your rewards and they actually provide a bit of a hedge against price fluctuations (jewel up, hero price in jewel down and vice verse).
There is a game that's relatively unknown right now called DeFi Kingdoms. I have been doing a deep-dive on this project over the last month and I have found it to be massively compelling for the following reasons.
1. It's properly positioned for the Metaverse mega-trend.
2. The total addressable market is huge, and this project is growing very quickly. I expect this to continue due to the fact that the team behind the game are executing on a very bold vision and hitting it out of the park. 3. The community is strong and growing fast
This month in #Bitcoin
- China boots miners out for real this time; hash power drop spooks market as miners relocate
- @Hut8Mining buys enough equipment to double their hash rate
- Bitcoin mempool remains operational despite a 50% drop in hash power
- Puell multiple hits green levels
- Michael Saylor buys another $600mm of BTC
- Taproot activation locked in for November
- El Salvador adopts Bitcoin as national currency and announces plans to mine Bitcoin using green power from a volcano
This month in Macro Fiscal/Monetary land
- ECB hasn’t raised rates in 10 years
- Fed has “muzzled the market” - Druckenmiller
- Stonks mooning like altcoins (AMC for example, larger than half the S&P up 70x this year)
- M2 increases 22% over the trailing year setting new record
Ok, here we go. It's time for another mega-thread on #Bitcoin, energy consumption, and net value for society. First of all, realize that all judgements of this sort come down to values. What do you value? What's important to you? Secondly, what does the data show? 🧵👇
I can tell you what I value. I care about human rights and global inequity. Bitcoin is one of the most potent technologies we've ever seen for protecting human rights. @gladstein
Bitcoin miners and their mining pools (1 hop and 0 hop essentially) still have a lot of supply. But as you can see, the long-term trend is downward for their stockpile.