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Joe Weisenthal Profile picture
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10 Jun, 8 tweets, 3 min read
HOT:

CPI (YOY) rises 5.0% vs. 4.7% expected.

Core CPI (YOY) up 3.8% vs. 3.5% expected.

S&P futures slipping a little on the news

bloomberg.com/news/articles/…
On a sequential basis, core CPI rose 0.7% from last month.
Five year yields ticking higher
What drove the change
Distribution of YOY changes across CPI components
Cars and other transport a huge driver of all this
Stocks turn higher thanks for playing
Full story from @readep on the CPI number bloomberg.com/news/articles/…

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More from @TheStalwart

Joe Weisenthal Profile picture
28 May
TRANSCRIPT: The latest Odd Lots with @BrianVenturo where we talk about how hard it is to get semiconductors these days is up. So many great insights about what the chips market looks like these days. bloomberg.com/news/articles/…
@BrianVenturo One of the important takeaways is that a few years ago, crypto mining (Ethereum) was mostly impacting the availability of GPUs.

But now other newer coins is making the market tight everywhere in the hardware space.

Filecoin is a big contributor this. bloomberg.com/news/articles/…
@BrianVenturo And now the launch of Chia is making things even worse. bloomberg.com/news/articles/…
Read 4 tweets
Joe Weisenthal Profile picture
27 May
NEW SEMICONDUCTOR EPISODE:

The new Odd Lots is at the intersection of basically everything that's happening right now.

I spoke to CoreWeave CTO @BrianVenturo on how datacenters, gamers, and crypto miners are all battling for increasingly scarce chips.

bloomberg.com/news/articles/…
@BrianVenturo Everyone knows that gamers have seen the prices of $NVDA chips soar due to their mining capabilities. But now it's spreading beyond GPUs to other areas, like hard drives.

Chia's network is growing at an absolutely insane pace right now. HT: @jim_b4_the_rugs
Read 5 tweets
Joe Weisenthal Profile picture
27 May
I think you could make an argument that for crypto to have a real economic impact it's going to require much more surveillance/less privacy.

Valuing and collateralizing off-chain assets may require an expanding network of invasive oracles, monitoring the condition of the assets
Say I post my car as collateral to get instant liquidity for it. That token representing the car must also know the condition of the car. How does it know the condition of the car? Either a network of humans (at which point you've reinvented banks) or surveillance. @balajis
@balajis As @ldrogen pointed out yesterday, you can think of China's social credit system as a model for how a theoretical crypto-economy works
Read 4 tweets
Joe Weisenthal Profile picture
26 May
Good summary of the new conventional wisdom of crypto twitter these days multicoin.capital/2021/05/25/tec… HT: @DavidSchawel
@DavidSchawel Basically, if you assume that the "money" part of blockchains just gets solved with the proliferation of stablecoins, then the Blockchain gets reconceptualized away from trying to create new money, to a distributed computing platform for doing stuff to money.
And if you assume that the money part is taken care of with stablecoins, then the real challenge to growth is not the invention of new money, but rather the legal impediments to bringing real world assets on-chain in some way.
Read 5 tweets
Joe Weisenthal Profile picture
26 May
Mike Arrington blocked me years ago because I once questioned the value prop of Ripplecoin, but interesting to read about his efforts to create a property record directly on a blockchain techcrunch.com/2021/05/25/blo…
This is something we've been talking about here in the last few days, of putting Real World Assets on the chain itself, and this post talks about how legally cumbersome and difficult it is to actually do that, but it doesn't get into many details of how it works.
So I'm left with mostly questions, and still curious if the legal hoops you have to jump through to form the connection between a digital asset and a real-world asset ends up being worthwhile and gets you anywhere substantively or if you're just recreating legal rights.
Read 6 tweets
Joe Weisenthal Profile picture
21 May
This is all true, and yet Bitcoin has grown massively over the last 12 years (as have other cryptos). And so instead of critics constantly pointing out what cryptocurrencies aren't doing, they should spend more thinking trying to answer why that they've seen so much growth.
Everyone knows I'm cynical on a lot of this stuff, but everyone should always be trying to update their views, and incorporate new information.
Gold plays almost no role in economic life. And yet it's existed in portfolios for a lot longer than 12 years. How come? It's not cause of jewelry.
Read 5 tweets

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