takeaways from some conf convs I had

- proof of reserve is happening. exchange credibility will ++
- nation state BTC land grab has begun. look for chronic sovereign defaulters in eastern europe & latam to jump first
- federalism will be a huge ally of bitcoin as TX & FL embrace
- the great hashrate migration (east to west) was happening pre-China news, but went from a trickle to a flood
- miners wide awake to optics concerns and will begin disclosing energy mix, both unilaterally and through multilateral orgs, securing renewables, and buying offsets
- flared gas mining is going to be enormously important in the next decade. can satisfy all of bitcoin's HR.
- lightning has reached critical mass & maturity. pipe dream in 2017; works today
- bitcoin as a bridge currency to support $-ization is well understood
- growing awareness that stories of bitcoin usage in developed world and frontier markets need to be told. many efforts to collect this data and share it underway
- taproot triggering - good tech-wise, but most importantly evidence that bitcoin can upgrade in an orderly manner
- most major critiques against bitcoin have been derisked, with china/esg/tether main holdouts but getting less concerning by the day
- bitcoin has cultural salience now. for athletes and celebrities, bitcoin is a way to signal glamor, edgyness, tech-savviness
- bitcoiners looking to step up their political ambitions. most lingering threats are political now and bitcoiners seeking to face this head on. some very interesting conversations with folks running for office looking to leverage the bitcoin demographic. more to come on this
despite a handful of unavoidable cringeworthy moments, the content was focused and largely hype free. general attitude was enthusiasm, optimism, with some victory laps thrown in. clear we are progressing to a new stage of maturity & penetration, with new challenges ahead
personal highlights
- meeting sen lummis, vijay boyapati, chase lochmiller, nick szabo, rep davidson, eric wall, others i wont name but you know who you are

- wore a suit to day 1 of the conf
- ubering between miami and miami beach
- ate too many carbs and seed oils
definitely humbled by the number of people who came up to me and thanked me for my work etc. the pageviews and clicks are very abstract, but seeing you all in person makes it very real. seriously, thank you. sometimes I wonder why I do it but my resolve is fully renewed 🧡

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More from @nic__carter

23 May
I'm seeing on chain evidence of (unusually high) miner selling leading this last leg down. anyone else able to corroborate?
I’ve effectively been able to confirm this. Miner selling is a huge driver of price action here. Make of that what you will
Not specific advise, but buying from forced or panicked sellers, sellers in unusual circumstances, or sellers in the midst of a capitulation is usually a good idea.
Read 4 tweets
21 May
just dredging this up re: recent china news. if china bans mining in places like Xinjiang, that's incredibly positive. remember, Bitcoin doesn't "need" a specific level of hashrate. nothing changes if HR falls off
this is why the people peddling 'hashrate causes price' nonsense are lying to you and screwing you over. they cause you to believe fictions. price causes hashrate.
China is SUBSIDIZING and improving the margins of cleaner, US-based miners by forcing hashrate out of China. That's a fact.
Read 6 tweets
21 May
here's proof that journalists don't read the papers they cite

here's what you see when you open the mora et al paper Image
it is literal journalistic malpractice to reprint this stuff without mentioning the fact that it has been effectively debunked, years ago, by the academic community
every single one of your favorite financial news outlets has cited this paper

the news is fake, folks
Read 6 tweets
21 May
You are absolutely going to want to watch this
Ross' paraphrase of my cathedral point (52 mins in) literally gave me chills. Unbelievable
for those who haven't read it

Read 4 tweets
21 May
I somehow missed this. The FT reprinted a graphic from the infamous discredited 2018 mora et al paper. Astonishing. This is academia equivalent to the lancet MMR vaccine paper. Journalistic malpractice Image
As I’ve said, they do themselves a huge disservice by citing junk/sham academia on this, because it becomes clear they’re not acting in good faith or seeking truth. It’s just total narrative war. Kamikaze tactics
I haven’t written a full rebuttal but here’s a video version

Read 4 tweets
16 May
lets go cucuy
dariush deserves to lose for walking out to adele
f in the chat for tony
Read 4 tweets

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