thingtank

Running Damus. Paul Ehrlich denier. Bitcion. 🥩 > stake

Public Key

npub1nmum2ht6uqg9flwm73cu3analq2h3xk493yj2hmzfl5nlhtr0jyqf7tpd5

NIP-05 Address

Thingtank@nostrplebs.com

Profile Code

nprofile1qqsfa7d4t4awqyz5lhdlguwg7e7ls9tcnt2jcjf9ta3yl6flm43hezqc2cc8w

Author Public Key

npub1nmum2ht6uqg9flwm73cu3analq2h3xk493yj2hmzfl5nlhtr0jyqf7tpd5

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Last Notes

2023-12-31 19:22:30

Is anyone able to give a little feedback on this letter to the SEC regarding the Ethereum ETF. The SEC comments deadline is within a few days, so I am prepping the letter now.
Here it is:
The Ethereum ecosystem, centralization, and Proof of Stake are complex topics, but I will start with an undenied truth: Ethereum was launched as a digital security. Initially, investors purchased the ether token with the expectation of profit through the continued work of the Ethereum Foundation. In other words, token purchases were an investment contract as defined by the Howey test. Yet, there is an argument that Ethereum is now “sufficiently decentralized” to be considered a digital commodity, but I would argue that is a bogus claim.
First, this concept of “sufficiently decentralized” is nebulous. But for the sake of argument, let’s assume there is some mythical threshold that Ethereum can cross to allow it to be considered a commodity and not just a clever way for the Ethereum Foundation to avoid 90 years of security laws. If Ethereum can cross this mythical decentralization threshold in one direction, what would prevent it from crossing in the opposite direction if it becomes further centralized?
Considering that Proof of Stake is centralizing, that’s probable. It’s actually straightforward to understand why Proof of Stake is centralizing: those who stake more ether will obtain more staking rewards, which means that they can stake even more tokens. As their pile of the ether token increases, so does their ability to capture control over the network. Considering that insiders received the vast majority of the token at the initial coin offering, control over the network was never in question. So even if the mythical “decentralization threshold” was crossed, the centralizing aspects of Proof of Stake means it will cross back into the realm of centralized, digital securities.
Yet, the concept of “sufficiently decentralized” was never really accurate—the founding entities never relinquished control over the network. Under the previous consensus mechanism, Proof of Work, the developers implemented a “difficulty bomb” as a way to coerce the miners into following the developers’ changes in the protocol. If the miners didn’t execute the developers’ changes, they would incur prohibitively expensive computing costs. The miners were faced with an ultimatum: follow our changes or go out of business. This is just one example of how the Ethereum network exhibits a hierarchical command-and-control organizational structure.
It should be emphasized that a command-and-control organization is centralized by definition—its de facto authority over the network. This is in stark contrast to the decentralized structure of the digital commodity Bitcoin, in which change is extremely difficult to implement. During Bitcoin’s history, powerful entities such as Big Tech, miners, chip manufactures, developers, and FinTech VCs—all attempted centralizing changes to Bitcoin—but were fended off by the community at large (Blocksize War by Bier; 2021). Even now, seemingly beneficial changes to Bitcoin are routinely met with extreme resistance and careful inspection from the global community. Bitcoin is truly a decentralized global commodity. Quite simply, no entity controls the Bitcoin network because there is no command-and-control hierarchy. Deceptive affinity marketing from the Ethereum Foundation’s Communications Department is promoting the perception that Ethereum is decentralized when all evidence points in the opposite direction. Indeed, a Communications Department itself funded by the initial coin offering suggests that Ethereum is centralized.
This contrast in Bitcoin and Ethereum underlies the observation that Ethereum is a rapidly mutating protocol. What SEC approves in 2024 could be completely different in just a few years. In fact, the co-founder recently issued a new roadmap that could lead to further centralization by increasing the number of the ether tokens required to run a validation node (from 32 eth to 4096 link: https://ethresear.ch/t/sticking-to-8192-signatures-per-slot-post-ssf-how-and-why/17989). Centralizing efforts appear to be increasing and not decreasing—erasing, once again, the mythical “decentralization threshold”.
While the Ethereum network is centralized, please also consider how much investor harm could be avoided if the Ethereum Foundation comes into compliance with security laws. In one example of many, the co-founder and Ethereum Foundation have demonstrated a history of selling Ether at the market tops (see: https://m.youtube.com/watch?v=8TwNNgiNZ7Y time:26:57). In a typical security offering there are regulations for disclosure of planned insider sales to prevent significant investor loss. Additionally, the Ethereum Foundation’s significant token holdings can easily lead to market manipulation, clearly harming US investors. If the Ethereum Foundation has the ability to control the network and manipulate the price of the token, why shouldn’t the Ethereum Foundation follow 90 years of securities laws? Unfortunately, approving an Ethereum ETF will cement Ethereum’s classification as a commodity and any opportunity for accountability will be lost.

2023-12-29 21:29:40

No S-1 from Grayscale? Does Barry screw GBTC holders one last time? Maybe AP’s are afraid to work with them due to liability issues?

2023-12-24 00:42:37

It’s in all bitcoiner’s interest to have it scale for everyone. If bitcoin doesn’t scale, people will end up buying paper bitcoin-and the price will be diluted. Changing the protocol is in every bitcoiner’s best interests.

2023-11-16 01:59:43

It would be pretty funny if Larry Fink gains enough leverage over Bitcoin the he tips the scales to bring covenants/vaults.

2023-11-11 14:13:03

Ethereum has lost credibility for being a sound money. Once credibility is lost, it can never be regained.

2023-10-11 16:13:02

After FTX collapsed, bitcoin has outperformed eth. Coincidence?
Doubtful, especially after learning Caroline was instructed by SBF to sell bitcoin whenever the price went over 20k.

2023-10-11 14:17:26

Elizabeth Warren’s Digital Asset Anti-Money Laundering Act is now more likely to gain support after Hamas was found to launder via “crypto”. US miners would have to sanction addresses. Anyone who transfers more than $10k would have to fill out a foreign report form with FINRA.

2023-10-08 16:47:20

China waiting on US to be involved in two proxy wars https://image.nostr.build/f26fa260b85ab21af5e7667595ac8028188e1919cfd31fe97bd08d19b6076c9f.jpg

2023-09-24 17:46:38

Tesla just demonstrated its AGI robot. It can be trained by videos and perform the trained tasks. Sure, it only performs simple tasks, but it’s not hard to imagine that it will someday be trained by the State with War footage to perform unspeakable acts. When it’s released, it must be hacked.

2023-09-20 17:44:24

Ethereum has entered an inflationary spiral

2023-09-16 15:50:32

Grayscale vs. SEC.
The GBTC court case was rock-solid and left the SEC with little-to-no wiggle room in approval of a spot ETF. The SEC could still deny a spot ETF if they pull the bitcoin future ETFs from the market. I am starting to think this may actually happen and I want to be prepared for it. I think a large part of the SEC’s case against Binance gives the SEC some wiggle room. They can state that they didn’t know the level of corruption present in Binance when they first approved Bitcoin futures. And now, in light of all the charges against Binance, they feel that it would “protect” investors by pulling the future ETFs from the market. The SEC has been against a spot ETF for the last 10 years. Why would a corrupt institution just give up after a 10 year fight? https://image.nostr.build/ba566578b79137cab791cac3ab5c4a292a9c621ce5c9062cd10f371ddb498398.gif

2023-09-11 12:44:09

So few people are using Eth that it has become inflationary. That will make fewer people want to use it, which will lead to higher inflation. It’s the beginning of an inflationary spiral. The only hope Eth has is their affinity scam. Eth fanatics have to hope a bitcoin bull market will pull Eth out of an inflationary spiral.

2023-09-09 11:18:16

The Enuts iOS wallet is kinda awesome

2023-09-08 15:09:28

https://image.nostr.build/0d6f888fd3dc9c08ef861a7f0751c85cd8902c3c474791da355ad330af2feb09.jpg

2023-09-06 14:32:02

There is no empirical evidence that the security budget will ever be an issue. The trends show that even though issuance decreases over time, the hash rate increases. Even when price decreases, the hash rate increases. The talk seems very similar to the “death spiral” FUD. It always seems to be brought up by ETH bag holders in order to justify their bad life choices. The talk overlooks the complexity of mining as a business, and how miners will adapt. Even when miners live off fees alone, wasted energy will be nearly free. Few miners will shut down when energy is free, even when fees are the only block reward. Satoshi developed a durable system.

2023-08-29 16:05:26

The ‘24-25 run will be massive. Today’s pop will be nothing in comparison. We are seeing incredibly cheap sats.

2023-08-22 11:33:59

Is anyone familiar with #friendtech ? Are people really doxxing their own Eth addresses with this? Wouldn’t this be a gateway to a social credit system on eth? I guess this is inevitable on Eth anyway.

2023-08-16 12:30:19

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It works. Thank you

2023-08-13 15:18:34

There’s a deep conviction in bitcoin that borders on religion. Some people make that out to be a bad thing. The deep conviction is why we have this statistic: https://cdn.nostr.build/i/7cfbb80c27b352e7f45c2f25276c45691f974ec84c7d8b16f68032aec7782c3c.jpg

2023-07-26 15:45:45

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The way this bill is constructed, commingling of customer funds is is allowed. The shitcoin industry is trying to push this through via donations.

2023-07-26 15:04:39

The US Congress is meeting over a pro-crypto bill today. It doesn’t sound as bipartisan as others are making it out to be. If this version is passed, shitcoins will likely proliferate and gain a pathway to being classified as a commodity. Here’s a recipient of SBF donations criticizing the bill. https://nostr.build/av/20219b215438752d04e462f1c423c52cb01d9477a14f66df34b52df6c25545df.mov

2023-07-26 13:05:33

https://cdn.nostr.build/i/f6d4fef8fd7b55d28e73d97330d4342b10ab5157710d81d358aed2ec3aa0b756.jpg

2023-07-25 15:34:08

Is there more morbidity and mortality from the COVID vaccine than climate change?

2023-07-24 23:17:11

Did you guys see this? Chainalysis lead investigator has no idea what the error rate is in the tools they supply to law enforcement. What frauds. Any reasonable judge would have to throw out all Chainalysis findings.
https://www.coindesk.com/consensus-magazine/2023/07/24/chainalysis-investigations-lead-is-unaware-of-scientific-evidence-the-surveillance-software-works/

2023-07-19 01:58:02

Bitcoiners are being courted by US Presidential candidates.
Today, Kennedy announces that he wants to back the USD with gold, silver, bitcoin…and waive capital gains tax on bitcoin.
Today, Vivek now says he will pardon Ross on day 1 of his presidency (after studying the case and meeting with Ross’ mother).

2023-07-18 13:13:50

It was satisfying to watch anti-bitcoin crusader Ben McKenzie get demolished on CNBC live this morning.
The producers seemed to have stepped in to say, “stop it Joe, he’s already dead”.

2023-07-13 22:29:31

Today, a US court found that Brad Garlinghouse committed securities fraud.

2023-07-13 16:01:52

All the shitcoiners are excited, but the court didn’t decide on whether secondary market sales of XRP were securities. https://cdn.nostr.build/i/915e0535c150788dab64a380b43ba2b76aa9483c4665c4b2c64d3dc4d85ee8b5.jpg

2023-07-12 21:53:07

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Despite this, the SEC approved future ETFs and a 2x leveraged ETF.
The BlackRock-Coinbase axis will need to address these concerns AND Grayscale will need to win their lawsuit against the SEC.

2023-07-12 21:49:35

Here’s one reason why the current crop of spot ETFs may be denied. This is Gensler’s general response to a question about the current ETF filings: https://cdn.nostr.build/i/8bda456eae9646da86e291b6a85a32a7eec698cb8d36c1b26e4da27bb0b29096.jpg

2023-07-12 17:30:52

Amazon Prime Day is a scam.
I was watching 7 items prior to prime day. Most of the items didn’t change in price. One item decreased in price by 1% but it said it was 27% off. What a scam.

2023-07-11 23:48:41

Lovin’ the search function on Primal. There is so much more content on nostr than I realized.

2023-07-06 15:18:46

The ideal spot ETF will have a similar option to the OUNZ Gold ETF—you can redeem OUNZ shares for physical gold. A spot bitcoin ETF that has that option will be superior to all other ETF options.

2023-07-05 21:46:37

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Best source that I know of: https://bitcointreasuries.net

2023-07-05 21:18:47

Blackrock, Fidelity et al are publicly traded companies. They have to disclose the amount of bitcoin they own. Blackrock only owns 6.15. Their purchases haven’t even started yet. This next run is going to be insane.

2023-07-05 18:08:44

Why meet with the spot ETF applicants if the SEC intends to deny the application?
Why let the applicants know their filings were insufficient if the SEC intends to deny?
Just reading tea leaves, but I’m optimistic for approval.
NgU is one of the biggest drivers of adoption, and an ETF will drive NgU.

2023-07-03 23:28:36

For years, spot ETFs were denied. One of the main reasons for denial was a lack of a surveillance sharing agreement. Why didn’t another firm develop a surveillance agreement earlier? What a joke. Blackrock comes in and gets it done. All the other applicants were amateurs. You can say it is corruption if Blackrock gets approved first, but it would be due to competence-not corruption.
I’m not supporting Blackrock. I’m just irritated by all the amateurs. Wtf.

2023-07-01 23:26:56

I’m on Damus TestFlight and I have the ability to zap posts directly again. I thought @npub1xts…kk5s had to disable them. It’s weird since I can’t zap everyone.

2023-07-01 20:12:06

Twitter refused to pay for cloud services—that’s the real reason Twitter is rate limited. The cloud contract expired yesterday. Looks like Elon will have to sell some Tesla shares. Good time to short?

2023-07-01 19:17:31

Welcome to nostr data scrapers. The LLM you train here might get a pro-bitcoin bias.

2023-06-30 20:44:32

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Looks like Fidelity re-filed and named Coinbase. It is only looking at current transactions.

2023-06-30 16:57:17

The SEC needs an SSA in order to approve an ETF.
This could mean that they will get access to every past and future transaction on the unspecified exchange (likely Coinbase).
Is it worth it to hand over all of that data to the USG just for an ETF?
Right now, the USG data is limited. The USG can issue a warrant for specific transactions or users. A few years ago, they had a large warrant for ~13,000 users who traded over $20,000. Now, they will get everything from the exchange.

2023-06-28 21:03:14

Everything is good for bitcoin, but when Blackrock lists an ethereum ETF, they will control the protocol when they stake their eth.
Blackrock Ethereum will be fully OFAC compliant.

2023-06-20 21:57:47

Rumor has it that DCG has been offered $2B for its assets and brand (Including Grayscale’s GBTC). Barry apparently turned it down.

2023-06-19 19:48:15

Powerful entities are pushing for a change in the max amount of eth tokens held in a validator. Regular eth users won’t have a choice in the matter since they don’t have much economic power (they’re outsourcing their node management anyway). What will they want to force through next? https://nostr.build/i/670d07b802eb2b0b626e951230203ae1a7626c1ac7d1aa5c44051ba18d498e04.jpg

2023-06-16 00:11:13

The Blackrock filing is likely to be approved since it is not actually an ETF, but a Trust.
The SEC has already approved bitcoin trusts, what is another one? This may expedite approval. The only thing the SEC really has to consider is the blocks of creation and redemptions, which differs from the other trusts available.

2023-06-15 23:55:35

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The time for approval or denial of the Blackrock trust is up to 240 days. This places it on Feb 10 2024, a few months in front of the halving.

2023-06-15 23:51:28

So it looks like the Blackrock filing is a trust and not an ETF. It differs from Grayscale by allowing share creations and redemptions in blocks of 40,000. It’s not technically an ETF, but the premium/discount should be much less than Grayscale. The Grayscale discount may increase if the Blackrock trust is approved and Grayscale’s case against the SEC fails.

2023-06-15 21:37:59

According to Bitcoin Treasuries, Blackrock holds 6.15 Bitcoin.
Today, 6.15.23, Blackrock files for a Bitcoin ETF.
Was this a clue or a coincidence? https://nostr.build/i/b2af1c32e471d485f5e2ca91b158fc6fa8c86cf0118b8141721c62718f9529af.jpg

2023-06-14 19:20:00

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They need to move to acceptance before the hammer comes down. Why can’t the eth devs and the EF form a consortium and register with the SEC instead pretending to be decentralized?

2023-06-13 16:12:31

The Hinman speech and emails said Eth did not need to be regulated as a security “AS IT IS CURRENTLY OFFERED”. That was back when it was PoW. Well, too bad it’s now PoS.

2023-06-13 16:10:38

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For some reason, the last post didn’t include the remaining text on Damus.

2023-06-13 15:24:57

@npub1xts…kk5s

2023-06-05 19:35:09

I love how Apple today talked about the problem of myopia that’s exacerbated by holding a screen too close. Moments later, they announced a product whose screen is a millimeter away from the eyes.

2023-05-24 18:31:13

https://nostr.build/i/c1cb4f231af41f485fed9dde5905093485b95027bb8848c59d721dbbcafbb053.jpg

2023-05-08 16:57:10

I suspect Kennedy would be the only US presidential candidate who would free Ross and pardon Assange. Vivek might too, but he’s not as likely to do it.

2023-05-03 21:27:10

Another looming bank failure and another pop in bitcoin. My favorite correlation. Thanks JPow.

2023-05-02 22:04:26

Biden wants to impose a 30% tax on the energy used in bitcoin mining.

2023-05-01 17:18:37

Wow, this Damus update is smooth. Loading so much faster now.

2023-04-30 15:35:37

Imminent bank failure. Bitcion up.
I would not be surprised if more failures are coming.

2023-04-26 20:59:34

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https://nostr.build/i/fa0ae267810cf63d79f0c858dc51e0cf301605ca65a49bd04b2c8410084f5704.gif

2023-04-26 20:35:15

Each time a bank fails, the bitcoin price moves. Each time the bitcoin price moves around a bank failure, the USG sells its bitcoin. Each time.

2023-04-23 12:33:37

The WEF can’t bring themselves to say the B word, even though everyone here knows Crusoe is using bitcoin miners to reduce methane.
https://www.weforum.org/videos/this-start-up-catches-waste-methane-to-power-data-centres

2023-04-18 20:37:57

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That makes sense. I also wonder if he is thinking about the eth market chaos that would ensue. Maybe he doesn’t want to deal with the blowback so he’ll let the courts settle it.

2023-04-18 20:24:11

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He said it in an interview with NYMag. I don’t know why he didn’t say it today. What did he gain by not saying it?

2023-04-17 23:16:06

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Even if relays implemented a pay-to-delete option?

2023-04-17 22:05:27

What is the best way to make your email address a lightning address?

2023-04-03 14:04:46

https://nostr.build/i/nostr.build_6289bc1f05757f1db4be558103b41d6a5004bec45efff06e499f5a63757585c4.jpg

2023-03-31 15:32:09

USG sold 9,400 BTC on March 14. Is it a coincidence that it occurred with heightened fear of bank-run contagion?
Was it an attempt to suppress the price? Sounds conspiratorial, but a Senator is assembling an anti-crypto army. Chokepoint 2.0 looks real, too.

2023-03-29 11:48:58

We must pause the AI until we figure out what the hell is going on.
-Elon Musk

2023-03-29 01:16:10

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Wow. What happened on March 13th? There was almost as much in zaps compared to what Twitter Blue makes in a month…and there’s just a fraction of the people here.

2023-03-29 00:41:03

So, Twitter Blue is only bringing in $3.8 million a month. Does anyone know the amount of zaps on nostr so far? I’m currious about the comparison.

2023-03-27 18:54:25

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It’s clearly a security. CT is going bonkers thinking this lawsuit is a victory for them. Lol

2023-03-27 18:45:06

I did not know this: the CFTC says a digital asset can be both a commodity and a security. The fact that the CFTC is going after Binance’s trading of ethereum derivatives, does not set a precedent for Eth avoiding SEC oversight
https://nostr.build/i/nostr.build_ae052e7ebcda799fa78b4860c2d5386c1fb6641da358537c9aa0e513c502e52e.jpg

2023-03-27 12:47:02

Ok Saylor, that’s enough. Save some for the rest of us.

2023-03-25 20:58:42

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It’s everywhere https://nostr.build/i/nostr.build_e3a90af85e89be6717e798bfd77458abe8628a18b17fa7216d8c8f79b46ad2e4.jpg

2023-03-25 20:31:04

Skull of Satoshi big green candle
https://nostr.build/i/nostr.build_8b615fb640d132e02e84a5a8a7dfecd02c2bd86b50faf1dc3e9b045e28c7b01e.jpg

2023-03-25 18:33:17

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#[4] is on a covert mission to steal it. I don’t know if that is still part of his plan as he may be sober now.

2023-03-25 18:22:51

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Yep. I heard that it would tour for a year. It may be put up for sale after that (very likely)

2023-03-25 16:41:47

Is anyone following the RESTRICT Act (TikTok ban)? If broadly interpreted, it’s argued that it gives the US president the ability to ban technologies, including bitcoin. It’s like a 6102 based on the RESTRICT Act, but for bitcoin.

2023-03-25 13:37:07

On a scale of 1 (meh) to 10 (crazy for it), how much do you like the Skull of Satoshi?
Me:
https://nostr.build/i/nostr.build_292edb0ea4b553874241191ce6e95c2580980b0fe17c152c511946d68451af04.jpg

2023-03-24 13:05:55

I’m in awe. The base of the skull is conspicuously shaped as a volcano. Nuclear cooling towers emanate like a king’s crown. Even the worker has to sit back on the side and appreciate the creation. https://nostr.build/i/nostr.build_b1e7833d06a2bec44d7e60daa5e73225172d17545aecbaa4e646b9582d6d9f66.jpg

2023-03-24 00:58:27

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Skull of Satoshi with nuclear power smokestacks. Fuck yeah.
https://nostr.build/i/nostr.build_69e9b434e29575bc33095ae6c851c9dce48782d7100262b70bc9a1ce562c9c55.jpg

2023-03-24 00:53:11

I think I need a replica of the Satoshi Skull.

2023-03-22 23:30:28

Gensler said “everything other than bitcoin” is a security (NyMag 2/23/23). How people continue to buy shitcoins is beyond me.

2023-03-22 16:56:01

Rapture: (n) the feeling of intense pleasure or joy
Bankrapture: (n) the pleasurable feeling experienced by bitcoiners watching bank runs

2023-03-13 18:37:24

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Yeah, you can’t neglect the Fed’s impact, but the NASDAQ is up 1.5% versus 15% for Bitcoin…and that’s in the setting of a suggested tax on bitcoin miners and un-banking exchanges. There’s certainly more to it than just the Fed.

2023-03-13 13:42:55

The FED is back to brrrr, but the market is down.
Bitcoin is up in the setting of a crackdown on Bitcoin banks and mining.
This has to make the overlords angry.
Me, I’m just gonna enjoy the day.

2023-03-12 22:47:31

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…and now it’s official. Printer is back on. That’s the pivot.

2023-03-12 20:22:25

The FED is talking about turning the money printer back on. Banks have at least 600 billion in underwater assets.
https://nostr.build/i/nostr.build_ad2482a76d2207f1b097465cd8b1ca11f5e45758deda9b15b546d25d08b2e262.jpeg

2023-03-11 18:15:45

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From what I read, it sounds worse than $0.91. The first people that are able to redeem will get $1, but after Circle no longer has enough money to cover redemptions, USDC holders get nothing. USDC becomes completely worthless. A bank run destroys all value in USDC. I don’t know why people would take a chance on it.

2023-03-11 17:02:04

There’s serious talk about bailing out depositors at Silicon Valley Bank and leaving American taxpayers on the hook. Once again, the American system is privatizing gains and socializing losses for the most powerful.
VC’s chose to ignore the risks inherent in the system. Perhaps the precise way this is playing out wasn’t entirely predictable, but a system based on leverage and debt is bound to fail one way or the other. Each bailout will only increase in size, allowing the most powerful to up the leverage. If depositors get away it through bailouts, the powerful will never learn.
But, how will they learn this important lesson?
The only way they will learn is through pain.
Pain is the best teacher.

2023-03-11 01:24:26

A16z uses Silicon Valley Bank.

2023-03-10 20:56:48

#[0], I like that you upped the limits on Cashapp just as bitcoin is below 20k. Perfect timing. Thank you!

2023-03-09 20:43:08

So, Biden wants a 30% tax on electricity used in PoW mining.

2023-03-08 22:06:04

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Thanks for the zap!

2023-03-08 20:08:54

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If nothing else, it showed everyone the potential of taproot. There are fascinating possibilities, for sure.
I read an interesting idea: rollups (ala taproot) used as a test bed for changes to the code. Sure, there’s testnet, but testnet never actually interacts with the Bitcoin incentive system. The unintended consequences of a change the code are difficult to predict, and not fully tested in testnet. So, if you encode a bitcoin virtual machine in taproot and add a possible change to the code, you can see how the market adapts to the change (if at all). Interesting if that could be pulled off.

2023-03-07 18:29:08

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From what I have seen 3-6 months for this lawsuit to be resolved. Then, there are 2 lawsuits attempting to force redemptions (1 confirmed, 1 likely).

2023-03-07 18:21:29

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It was due to the opening arguments for the SEC case. The judges were asking pointed questions regarding the BTC futures and spot prices. How they move in tandem. It’s just the opening arguments, so a lot can change. That is the crux of Grayscale’s case, though. It’s looking more likely than not imo.

2023-03-07 17:30:27

Damn, that #GBTC case. It is looking like Grayscale might actually win. Wen ETF? 3-6 months.
I’m cautiously optimistic. IOW, I haven’t started looking on Zillow…yet.