brady
brady

Because it takes a shitton of work to stand up a mining operation. Same reason you hire a doctor or a lawyer or a plumber. You want to learn that work or go into those businesses? Why is this hard to grasp?

2024-05-10 22:33:37

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The difference is that our clients own everything. These are we getegated operations. Cloud mining sells fractional hashrate on machines you don’t own. Also we’re working with huge institutions that go through extreme due diligence with lots of lawyers. We’re not preying on retail here. Completely different.

2024-05-10 21:04:52

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I have no idea what this means

2024-05-10 21:03:45

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It is completely different from cloud mining. Swan is operating bespoke, segregated mining businesses for huge institutions that own their mining business. We are operators for hire.

2024-05-10 19:20:35

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Growth in the financial services business and mining

2024-05-10 19:02:22

For the record I have nothing but respect for @npub1qny…95gx. We had legal and strategic reasons behind making announcements when we did. The timeline wasn’t ideal for transparency but I’m glad it’s all out there now. Swan is now a profitable company overall and the financial services business is growing, brokerage is growing with 120k clients, IRA is taking off, Vault is now publicly available and growing fast. Matt was doing his job and I appreciate him for that.

2024-05-08 16:19:18

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I think it’s pretty straightforward. If a large institution wants to get into mining but doesn’t want to build a mining company, we manage their hashrate.

2024-05-08 16:18:33

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Did you read the release?

2024-05-08 16:13:10

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I more detail in reply to Derek
#note1n7h…90c9

2024-05-08 16:10:13

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Hey Derek - I agree with you that cloud mining is not good. Swan Managed Mining is not cloud mining. This is a bespoke service to manage operations at scale for large institutions (several MWs per investor). These investors get a clear view from ASIC acquisition all the way to hashing. Transparency on everything. They see pools, wallets and can track in real time the operations. Also, by definition, their risk on individual machines is massively pulverized.
Swan gets a management fee for the services. We announced a deal with Tether and we’re managing a lot of their hashrate. Large capital allocators don’t necessarily want to pool their capital with pre-existing mining operations, nor are they able or interested in acquiring all the skills, talent, experience, and time to learn how to stand up their own mining operation. This is where Swan Managed Mining comes in.
Really sorry to hear about your experience with retail cloud mining, we’re very aware of those operations, and SMM is not that.
More here: https://www.swanbitcoin.com/swan-announces-managed-bitcoin-mining-service/

2024-05-08 15:17:05

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This is not a cloud mining service. This is bespoke managed mining for institutions. More detail in the release https://www.swanbitcoin.com/swan-announces-managed-bitcoin-mining-service/

2024-03-14 06:00:21

First time on Primal, feels very polished.

2024-01-14 03:27:08

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We don’t even have a sell button in our app. Some HNWI and institutional clients have access to a fund intended to limit volatility.

2024-01-13 17:46:13

We're building the USA's first Bitcoin-only trust company.
We need some great Bitcoiners to take on the challenge.
Our first leadership hires are CTO and CISO.
CTO: https://bitcoinerjobs.com/job/1411088-chief-technology-officer-bitcoin-trust-company-swan-bitcoin
CISO: https://bitcoinerjobs.com/job/1411044-chief-information-security-officer-bitcoin-trust-company-swan-bitcoin

2024-01-04 19:40:27

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Are we cancelling Nintendo?

2024-01-04 17:37:56

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Ten31 has a massive stake in Strike and sits on the Unchained board, and does not have information rights with Swan. As you said, Ten31 invested a tiny amount in Swan, long ago. All large investors in Swan do extensive diligence. They are not concerned with the names of seed funds from early rounds.

2024-01-04 17:24:06

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Not in the last couple of months since we released those numbers?

2024-01-04 16:11:57

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You think we’re lying?
You think people would invest without verifying those numbers?
Come on, Matt.

2024-01-04 02:04:09

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It’s one of Matt’s jobs to report on the industry and he does it well.

2024-01-04 02:02:50

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We do, just on an as needed basis right now.

2024-01-04 01:18:47

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Good game!

2024-01-04 01:14:37

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I know what boobs are. Nak and jq must be pretty awesome.

2024-01-04 01:07:06

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You’ll lose that bet

2024-01-04 01:06:20

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The numbers are real. We’re holding details for strategic reasons until after the next equity round is done, ~April.

2023-08-23 01:25:58

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And by the way, there’s no inside information about Swan he could know that I don’t. There is nothing. 64% of sats purchased at Swan every month are withdrawn. We encourage and support self-custody as much as possible. Every other sat is in a legally segregated trust account in the client’s name and, by definition, 100% reserve. Only bitcoin, of course. There is no logical reason to compare us to Binance. 🤔

2023-08-22 19:12:22

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It’s unprecedented to have funds in legally segregated trust accounts clawed back. That’s the whole point of a trust company. It segregates business operations from client funds.

2023-08-22 17:51:27

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This is quite the insinuation. What would lead you to such a drastic conclusion about us?

2023-07-02 13:34:56

What’s your current favorite Bitcoin wallet to connect to your own bitcoin/lightning node for everyday payments? Why?

2023-05-02 22:29:32

😍 https://nostr.build/i/ef5fabb11954a221485df6b59f9463a35d2b1632259dff775ea0dcc1ca80176b.jpg

2023-04-24 12:35:20

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Now do Bitcoiners Best on nostr 😉

2023-04-24 12:30:10

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RAMPANT!

2023-04-23 03:58:51

Threw some stones with #[0] #[1] and #[2] https://nostr.build/i/nostr.build_f55d17f11bfd877c1cc3d562d5b430de6a9eec705a81949a5ddc47af11e41f9d.jpeg

2023-04-04 21:38:19

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UBI could be a more fair transition to a Bitcoin standard. The cantillionaires have been sucking on the tit of the fiat money pyramid for a hundred years. Why not throw the plebs a bone in the dying days of the dollar?

2023-03-04 19:21:04

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How many sats? 500?

2023-03-04 16:07:37

Hey, who’s on Nostr #[0]

2023-03-04 15:57:40

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Plebstr is great thanks!

2023-03-04 15:40:48

Are there any other iOS Nostr clients?
What’s the best web client? I want to run two accounts on the same phone.

2023-03-04 15:11:18

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Finally shitposting gets the professional status it deserves!

2023-03-04 02:41:54

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Diamond hands!

2023-03-04 00:32:50

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It means it can’t be listed as “coming soon”

2023-03-04 00:14:38

Join us before it really catches on! Miami is gonna be bonkers. https://t.me/bitcointradingcards

2023-03-04 00:10:56

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Not sold out. Just limited UI!

2023-03-03 22:42:44

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But my account gets tons of attention from noobs in bull runs

2023-03-03 22:37:58

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Yeah, network effects are strong. I figure we have to dedicate at least one more cycle to Twitter before we can delete it. And that will be a day to celebrate (given it remains centralized as is their incentive). The internet is healing!

2023-03-03 22:32:55

What’s the case for continuing to use Twitter?
The best I’ve heard is that there’s a lot of noobs to educate.

2023-03-03 22:32:14

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Absolutely 🍻

2023-03-03 22:16:02

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2023-03-03 22:15:16

Imagine the value of the Bitcoiner / Nostr network you are building ten years from now. 🤯

2023-03-03 22:11:07

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Beautiful 🤩

2023-03-03 22:10:28

Follow #[0] for some badass bitcoin art.

2023-03-03 22:07:47

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what other use cases for nostr are you most excited about?

2023-03-03 22:05:12

Finally Sats are natively integrated into a social network. Total game changer.

2023-03-03 17:33:09

Trying to get #[0] to 100 followers today! Just need 20 more. I’ll zap everyone who likes and reposts this to help us get more visibility for this awesome pleb art project!

2023-03-03 12:40:41

gm, looks like bitcoin is still doing that tick tock next block thing

2023-03-03 02:49:54

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Join the telegram here: t.me/bitcointradingcards

2023-03-03 02:48:04

Follow #[0] to keep up with one of the most fun projects in Bitcoin.
If you’ve ever love collecting trading cards like baseball or Magic the Gathering, you’re gonna love this.
Even if not, it’s addictive and fun, check it out!

2023-03-03 02:47:31

Follow npub1yjryjq2kdganuc69zme9agk0q4rjcnlxel3fwp3xm9z68phsxngsqd33a9 to keep up with one of the most fun projects in Bitcoin.
If you’ve ever love collecting trading cards like baseball or Magic the Gathering, you’re gonna love this.
Even if not, it’s addictive and fun, check it out!

2023-03-02 18:26:37

Current fave dad joke:
What did the fish say when he swam into a wall?
Damn.

2023-03-02 18:22:13

Zaps zaps, zaps zaps zaps zaps zaps, zaps zaps zaps zaps zaps, zaps zaps zaps zaps

2023-03-02 18:19:40

What a time to be alive, my friends. Building the future and having fun doing it. What we’re doing is going down in the history books. I love you all!

2023-02-23 04:12:41

dad https://nostr.build/i/nostr.build_c6cbe46d46d9d5b15df3c7598e6178992873d87b5f904add15e8774eb60a5178.jpeg

2023-02-21 13:12:26

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Good morning Preston and Jack

2023-02-21 05:59:26

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Fuck yeah, that’s so cool to hear!

2023-02-21 05:59:04

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Thanks man! I retired. But maybe not.

2023-02-21 03:09:16