How exactly does BIP110 give Luke and Mechanic control?

Segwit was a small group of people changing Bitcoin

View quoted note →

Did BIP148 have overwhelming consensus or was it just a minority of nodes?

Was a lynch mob behind BIP 148?

Where are the apologies from influencers who supported taproot? If you want more credibility, you might want to reflect on that time and lead with an apology before you start talking.

Who has receipts on the biggest supporters of taproot activation?

I GUESS THERE IS NONE. TIGHT View quoted note →

What’s the defense against a nation state actor spamming the UTXO set?

Bitcoin is the best litmus test for general intelligence. No other area of expertise is even close.

I wonder how many people know that the *credit risk* for the $2T of mortgage backed securities owned by the Federal Reserve is backstopped by Fannie, Freddie, and Ginnie - AKA the taxpayers. View quoted note →

“Epstein wasn’t that smart” smells like a psyop. I keep seeing it. Could be a way for poors to cope with his wealth. Could also be awfully convenient for some: “Epstein wasn’t that smart; therefore, he couldn’t have run a (child) sex trafficking and blackmail ring.”

Babe wake up. The Rothschilds are so back. View quoted note →

I have to apologize (personally to @EvilDood ) for oversimplifying how mortgage backed security (MBS) “ownership” works. In light of the realization that I oversimplified, I decided to do a deep dive and write a research paper on the US mortgage market and how the US government intervenes in it. TLDR: My main point still stands: government intervention in the ~$13.1T US single family mortgage market is extreme and worth taking note of. ~70.61% ($9.3T) of the mortgage market carries a government-linked, credit-risk guarantee, AKA taxpayers. The Federal Reserve also owns roughly ~15% (~$2T) of the market, whose credit risk is backed by taxpayers (and included in the ~70.61% ($9.3T)). I probably won’t post the whole research paper anywhere, but this high level summary below should give some understanding of how the market works. Questions and corrections welcome. After mortgages are originated, there are two types of entities: owners and guarantors. In the approximately ~$13.1 trillion U.S. single family mortgage market, the typical owner of a mortgage-backed security earns the interest payments and bears interest-rate risk, prepayment/extension risk, and liquidity risk — meaning the asset’s value fluctuates as rates move or borrowers refinance. (Private label MBS and unsecuritized whole loans, ~29% of mortgages (~$3.87T), bear those three risks PLUS credit risk. AKA a free market) The guarantor, by contrast, bears the credit risk — the risk that borrowers default and liquidation does not fully repay principal. ~70.61% ($9.3T) of the mortgage market carries a government-linked, credit-risk guarantee: roughly 50% via Fannie Mae and Freddie Mac (implicit) and about 21% via Ginnie Mae (explicit). The Federal Reserve also owns roughly ~15% ($2T) of the total market. While the Fed holds the interest-rate, prepayment/extension, and liquidity risks on those securities, it does not bear the borrower credit risk. That credit risk is insured by the issuing agencies — either Ginnie Mae (explicit full faith and credit of the U.S. Treasury) or Fannie Mae and Freddie Mac (implicit Treasury backstop through conservatorship). In simple terms, owners absorb market volatility, while the guarantors absorb borrower default losses. 29% remains outside federal credit protection through private-label securities and bank-held whole loans.

I tried listening to Dalio’s latest piece and only lasted 15 minutes. It was too cringe. Every few sentences there was something so banal that he tried to make profound. Thinkboi word salad. Giving himself layups. I found myself constantly saying “that’s a reach.” “Says who?” “Press X to doubt.” I’ve long said that Ray’s cognition isn’t what it used to be and he needs to retire. The fact that he *still* doesn’t get Bitcoin, even though Ray’s earlier work helped a lot us see Bitcoin 🙋‍♂️, is further proof that he needs to quit the game. View quoted note →