MicroStrategy World 2021 live now...

“Cash is a liability. No longer an asset.” Ross Stevens, CEO Stoneridge and NYDIG
“I now think in bitcoin...It is very freeing. Bitcoin is not volatile. Fiat is volatile...It keeps getting cheaper.”
- Ross Stevens
Property of gold that makes it weak compared to bitcoin:

"Bitcoin is the first store of value ever in which its supply is totally unaffected by its demand. Bitcoin is better at being gold than gold.”

Gold supply can be increased with demand.

Bitcoin will only have 21M coins.
Bitcoin’s mining energy is currently equivalent to “10 million humans worth of energy...As bitcoin’s price rises, bitcoin mining will be the most profitable use of energy.”

Bitcoin allows people to move to the power, which will result in cleaner and cheaper energy.
“My partners and I bought more bitcoin in 2020 than prior years combined. And we are conservative, institutional investors...The left tail of the zero outcome is gone...The left tail has been chopped off."

- Ross Stevens
What stops people from seeing the potential of bitcoin?

“What people underestimate most about bitcoin is the ferocity of the bitcoin community for bitcoin.”

This is certainly true IMO and has been that way for over a decade.
"China and India basically banned bitcoin. It rallied in their faces. It's unstoppable...If the US banned bitcoin, it wouldn't stop it."
This concludes the first hour session between @michael_saylor and Ross Stevens at MicroStrategy World 2021.

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More from @JamesTodaroMD

2 Feb
1/ Primer on the value proposition of bitcoin & decentralized finance (aka ‘DeFi’).

In my opinion, this will continue to be one of the most exciting growth sectors over the next decade...resulting in a complete paradigm shift toward sound money, new financial products & web 3.0.
2/ First, let us dismiss the popular myth that bitcoin is transient like the speculative bubbles of tulip mania and south sea company.

Those bubbles were very illiquid and lasted a short 3-4 yrs.

Bitcoin has been growing for over a decade with billions of dollars traded daily.
3/ Bitcoin is an incredibly unique asset...

An asset resistant to inflation, capped at 21 million coins.

An asset resistant to censorship/seizure that can be privately secured with a seed phrase.

An asset that can be transferred anywhere in the world almost instantly.
Read 17 tweets
11 Dec 20
1/ Vaccine mandates are quickly moving from "conspiracy theory" to reality.

In a recent interview, Dr. Fauci asserted that the only return to "normal" is vaccination in 75-80% of the US.

Let's assess if that is really true.
2/ The Pfizer and Moderna COVID-19 vaccines aim to serve two purposes:

a) Protect individuals from symptomatic infection. Trials estimate ~95% efficacy for both vaccines.

b) Decrease the transmission of SARS-CoV-2. This benefit is still unconfirmed.

nejm.org/doi/full/10.10…
3/ In regards to strictly the personal benefit of protection, most Americans would agree that the decision to get the COVID-19 vaccine should be a personal choice.

The debate becomes murkier though when assessing the risk of the unvaccinated infecting those who are vaccinated.
Read 11 tweets
9 Nov 20
1/ There's an unusual pattern for voter turnout in Red, Blue & Swing states.

Changes in voter turnout from 2016 to 2020 has been largely attributed to increases in mail-in votes this election.

Interestingly though, Red & Swing states had the greatest increases in voter turnout. Image
2/ This is odd because Democrats had a much greater preference for mail-in voting compared to Republicans.

One would expect that the Blue states (more Democrats) would see the greatest increases in voter turnout due to increased mail-in voting--their preferred method after all.
3/ Instead, Blue states actually have the smallest increase (4.8%) in voter turnout this election.

On the other hand, Red States had a 6.6% increase in voter turnout and Swing states had the largest increase at 8.1%. Image
Read 4 tweets
18 Sep 20
1/ An unknown side effect of lengthy lockdowns may be decreased crossover immunity to COVID-19.

Research on SARS-CoV-1 suggests that lack of exposure to the common cold coronaviruses could actually worsen morbidity and mortality in those who do eventually get COVID-19.
2/ Researchers infected mice with a general mouse coronavirus and then 2 days later infected those same mice w/ SARS-CoV-1.

They compared the mortality of these mice vs those infected with SARS-CoV-1 who were not first "primed" w/ a general coronavirus.

ncbi.nlm.nih.gov/pmc/articles/P…
3/ The difference in mortality was astounding.

100% of the mice infected with the general coronavirus first, then with SARS-CoV-1 survived (black circles at top).

Whereas 0% of the mice infected w/ only SARS-CoV-1 survived (black boxes).

(Significant difference with P<0.0001)
Read 5 tweets
17 Sep 20
1/ Growing research demonstrating importance of protective T-cells against SARS-CoV-2 combined w/ prior research on influenza viruses suggest that nasal mucosa T-cells may explain the rising number of "positive" PCR tests while deaths & hospitalizations remain low.

Here's why.👇
2/ We know a large percentage of the uninfected population already possess T-cells in the blood that recognize SARS-CoV-2.

It seems likely our nasal mucosa also possess these protective T-cells considering airborne spread of common cold coronaviruses.

3/ Substantial research on influenza viruses shows conditioned T-cells in the nasal mucosa is associated with rapid viral clearance and decreased transmission to the lungs upon reinfection.

jimmunol.org/content/167/6/…

pnas.org/content/114/20…

immunology.sciencemag.org/content/2/12/e…
Read 10 tweets
25 Aug 20
1/ Hong Kong reports the first confirmed case of SARS-CoV-2 reinfection today.

Although it is only a single case, it supports the theory that T-cell immunity (as opposed to antibodies) may be more important in regards to disease course and transmission.

Here's why.
2/ Case summary:

A 33-year-old confirmed case of COVID-19 from March 2020 (positive PCR test along with fever, headache, cough and sore throat) tests positive in routine screening at the Hong Kong airport in August.

This reinfection occurred 142 days after his first infection.
3/ The patient was completely asymptomatic during the course of the second infection.

He did not have a fever, cough, headache or sore throat during the entire course of the reinfection.

Based on genome sequencing though, it is likely that it is a true second infection.
Read 10 tweets

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