Bitcoin is still early

[jacoavlu]

just look at actions not words. in the face of massive inflation, bank of england is printing money to buy their own debt. why would they do that?

[Tim]

“ In simple terms, there is not a lot of liquidity, an entity has to offer a higher interest rate in order to get some one to buy their debt. This week, several entities couldnt get anyone to buy their debt at certain time..”
Macro economic, interest rates are actually at historically normal levels.
Microeconomic, as you say, someone or an entity gets hit with drastically lower asset valuations and needs debt has a problem. The interest rate and credit market isn’t the problem. It is the micro level that the pain occurs.
Interest rates are rising to reduce inflation. This reduces availability of credit only due to higher costs. Heathy entities will have ready access to credit, but at a higher cost.

Example: Mortgages are readily available to qualified buyers, they just aren’t at artificially lower rates.
Thank you for your thoughts and praying for me.
My assets to a hit, but I don’t have a need to float debt. I could, maybe others can’t, I don’t like the normal rates anyways.

[jacoavlu]

Interest rates are rising to reduce inflation.

then why is bank of england and bank of japan printing money to buy their own debt?

[xraygoggles]

You and Frances Coppola would get along well.

If we ever need to break sats down to centisats or millisats, I will be one of the wealthiest people in the world. You do realize that current value of 1 Satoshi is around 2/100's of 1 Penny? So feel free to go hog wild with your 1 CentiSat.

Don't worry - we will never need to break it down any more than sats - it was just a demonstration of how the 21M number is irrelevant & maxi cultish hodgepodge.

[xraygoggles]

there’s a -1x short ETF - BITI

which is funny bc sec won’t even approve a spot bitcoin etf

on the one hand, maxis loathe the SEC because they regulate and enforce securities laws too stringently, as you mentioned above.

but on the other hand, maxis are begging the very same SEC to make Eth et al securities - even going on CNBC to make their case to regulators...

Curious... perhaps maxis have no philosophical/ideological principles behind their convictions - aside from 'pump muh bags', that is.

[jacoavlu]

on the one hand, maxis loathe the SEC because they regulate and enforce securities laws too stringently, as you mentioned above.

but on the other hand, maxis are begging the very same SEC to make Eth et al securities - even going on CNBC to make their case to regulators...

Curious... perhaps maxis have no philosophical/ideological principles behind their convictions - aside from 'pump muh bags', that is.

I couldn’t really care less. Anyone from either side lobbying sec to take whatever action are bootlickers in my opinion. Seeking approval is just asking for denial

acquiring and holding and spending bitcoin is easy, and available to basically anyone, without permission

[Tim]

then why is bank of england and bank of japan printing money to buy their own debt?

You tell me. I don’t have any pounds or yen. Why has the US government been buying it’s own debt AND spending ridiculous amounts? Maybe Japan and UK are spending crazy as well? Btw, I tend to lean with what I perceive as your views. Call my views “conservative libertarian”? I think government can serve a useful purpose, but lean more heavily to free markets.
Yeah, want my cake and eat it too from an economic perspective.

[jacoavlu]

You tell me. I don’t have any pounds or yen. Why has the US government been buying it’s own debt AND spending ridiculous amounts? Maybe Japan and UK are spending crazy as well? Btw, I tend to lean with what I perceive as your views. Call my views “conservative libertarian”? I think government can serve a useful purpose, but lean more heavily to free markets.
Yeah, want my cake and eat it too from an economic perspective.

they are QE bc they have no choice, there is lack of bids for their debt and if they don’t print money to buy the debt, prices of their debt collapse (interest rates moon) and they risk a total collapse of the system.

There were reports of imminent failure of UK pension funds due to risk of margin call as the debt they held moved like meme stocks. There were reports of blackrock freezing assets of large funds for blackrocks own protection. Central bank had to intervene

I don’t know definition of “liquidity crisis”. But whatever you want to call it, it’s manipulation, and in the long run it’s not sustainable

[Tim]

they are QE bc they have no choice, there is lack of bids for their debt and if they don’t print money to buy the debt, prices of their debt collapse (interest rates moon) and they risk a total collapse of the system.

There were reports of imminent failure of UK pension funds due to risk of margin call as the debt they held moved like meme stocks. There were reports of blackrock freezing assets of large funds for blackrocks own protection. Central bank had to intervene

I don’t know definition of “liquidity crisis”. But whatever you want to call it, it’s manipulation, and in the long run it’s not sustainable

Uk government policy and their pension problems are NOT by any means a global liquidity crisis.
Disruptive and harmful to the UK and will it have some macroeconomic impact yes. UK needs to decide where they draw the line on their fiscal policies. Hurt the pension holders or bankrupt the country? Macro economics are not choices between positives. The only one hurt will be the stakeholders.
That is not a global liquidity crisis. Failed fiscal policies are causing much of this. Not a credit crisis. You can get credit for anything you want. "APPROVED".

[jacoavlu]

Uk government policy and their pension problems are NOT by any means a global liquidity crisis.
Disruptive and harmful to the UK and will it have some macroeconomic impact yes. UK needs to decide where they draw the line on their fiscal policies. Hurt the pension holders or bankrupt the country? Macro economics are not choices between positives. The only one hurt will be the stakeholders.
That is not a global liquidity crisis. Failed fiscal policies are causing much of this. Not a credit crisis. You can get credit for anything you want. "APPROVED".

don’t think anyone said “global”, I certainly didn’t

[xraygoggles]

I couldn’t really care less. Anyone from either side lobbying sec to take whatever action are bootlickers in my opinion. Seeking approval is just asking for denial

acquiring and holding and spending bitcoin is easy, and available to basically anyone, without permission

okay, i can respect that position.

not sure you can spend it as easily as holding it tho

[Tim]

don’t think anyone said “global”, I certainly didn’t

You win on that point. Liquidity problems happen everyday on a micro economic level and all the way on up.
2008 GFC was a complete freeze, which I interpreted to a very large failure of the global banking system. My bad.

[jacoavlu]

okay, i can respect that position.

not sure you can spend it as easily as holding it tho

when I say spend I mean transact on the bitcoin network

[xraygoggles]

when I say spend I mean transact on the bitcoin network

but the network is super slow and inefficient

[jacoavlu]

but the network is super slow and inefficient

depends on how fast you need final settlement. 4-6 blocks is common, which is about an hour. That’s perfectly fine to me.

I’m not talking about buying lattes

have you ever held your own coins and made an on chain transaction?