1/ Last week a large off-shore crypto exchange, FTX, went bankrupt.
We’ve received inquiries from Swan members wondering if the FTX fallout might affect us.
Your Bitcoin is safe.
2/ Neither Swan nor Prime Trust engages in any lending or borrowing services, nor rehypothecation of customer assets.
3/ Prime Trust is a licensed and regulated trust company and custodian located in the USA and is subject to US laws, unlike FTX. The trust structure legally requires that your funds are held separately from company funds, and solely in your name.
“Bitcoin enables individuals to reclaim and reassert their Natural Rights using a system that is inherently significantly harder to control.” - @MartyBent, Host of the Tales from the Crypt Podcast and Editor in Chief of Marty’s Bent
“Individuals adopt #bitcoin because it possesses unique properties that make it superior as a form of money relative to all other currencies.” - @parkeralewis, Head of Business Development at Unchained Capital
Before we dive into the thread, @stephanlivera and @CitizenBitcoin will be hosting Lyn on a Twitter Space later today at 3pm PT / 6pm ET to discuss the piece. @MartyBent and others will join as well.
"Bitcoin's energy usage is a rounding error.... when scientists estimate annual global energy usage, they can easily be off by a couple percentage points in either direction, let alone a couple tenths of a percent. Bitcoin is estimated to use less than one-tenth of one percent."
2/ Even though we can all see them coming, Bitcoin’s halvings create supply shocks. Here we see the reduction in full-year issuance over the prior full-year rise of each halving but diminished in scale by half.
3/ Next we look at the price of bitcoin divided by its price exactly one year prior. We see these multiples rise and fall but with a diminished magnitude each time.
Not many years from now, the number of Bitcoiners in the United States of America will cross ten million. When we hit that milestone, it’s game over: Bitcoin wins.
Nassim Nicholas Taleb (@nntaleb), wrote about “the intransigent minority” in his book Skin in the Game. Here’s the concept at work: almost every packaged food product for sale in the U.S. is kosher.