https://x.com/corybates1895/status/1846346419340206366
LoL WuT?
No, Bitcoiners are not "batting 1000". They literally say everything is a scam except Bitcoin so anytime anything crashes ever they are "batting 1000". How many times have we heard them say USDT or Coinbase is going to collapse? Still waiting.
Not that I think Trump's new crypto venture has any promise whatsoever. This isn't even the first time he's pulled this nonsense. It's like everyone has forgotten that he already has a full set of completely failed NFT products. Those go all the way back to 2022.
I can't say I know much about World Liberty Financial... but I'm sure it's absolute garbage. Nothing Trump (or any politician for that matter) has said makes me think they could ever embrace decentralization in any way. Many RFK but let's be honest that guy is absolutely cray cray... or he at least has that appearance to any "normal" person.
The "experts" have spoken.
Of course there's absolutely no way the reporting on this platform was going to be positive no matter how good or bad it actually was, so all of these headlines are completely worthless. Trump derangement syndrome strong. I can't think of one single entity that I would trust to give an unbiased review of this product... except for myself... and I'm not going to do it because I'm way to lazy to research some garbage that I know is going to be garbage. I don't have the stomach to figure out what the garbage tastes like atm. Sorry, not sorry.
I will say that it sounds like an insurance company or a credit union.
Liberty.
Freedom.
Murica.
The tagline of the website itself on Google says "earn and borrow" crypto. Another platform for borrowing crypto would be nice honestly if the interest rate is very low. Earning crypto, on the other hand, I remain highly skeptical of... considering that only Hive has ever been able to accomplish such a feat without imploding after six months. Obviously I'm not including any of the services that will pay out pennies because who cares.
Lucky for me the website is still down so I can't really check it out further. Looks like most of the liquidity for the token is currently on Solana... no surprises there. I still have to do a post about Memecoin Jesus if you know who that is.
https://x.com/paoloardoino/status/1846495767269097939
In other news...
It would seem that Italy is going to raise taxes on Bitcoin by quite a pretty penny. But does this actually even matter? As many have already pointed out when countries try to tax the rich this simply incentivizes the rich to leave the country or figure out some kind of tax haven situation. It's very easy at this point to collateralize crypto and extract debt from these positions... and debt is ALWAYS tax free no matter what. This is simply how central banking operates and it would break the entire system to change the rules at this point.
And none of that even factors in all the ILLEGAL ways to evade taxes, which many people will indeed do. I always see randoms talking about how traceable Bitcoin is and how you can't get away with anything because the big bad government is gonna get you. If you look at the actual crime being prosecuted by the literal FBI it's easy to see that only the dumbest of the dumb criminals actually get caught. Most crimes in crypto go completely unpunished no matter how "easy" you think it is to track everything. The theory of traceability is not the reality of fairness justice.
Not that I'm saying people should do-crime because they can get away with it, just that almost everyone does indeed get away with it. Seriously look at every single memecoin rugpull for the last 2 years. You think these people are getting caught? They nab the top 0.1% offenders and act like justice has been served. Anyone who's been stolen from knows better; you NEVER GET YOUR MONEY BACK.
DYOR NFA git gud kid.
https://x.com/functi0nZer0/status/1846544219416003012
MSTR premium x2.7
MicroStrategy market cap is currently valued 2.7x higher than the amount of Bitcoin they control own. This makes people nervous about the price collapsing back to a more reasonable level. However since this is the bull market the degens are in control and the FOMO is rampaging because people have made so much money over this discrepancy.
What is supposed to happen at this point is that MSTR should print more stock or take on more debt to buy BTC to close this gap. Of course this assumes that ONE HUNDRED PERCENT of MSTR's value lies solely in their BTC balance sheet. Honestly I don't know why Saylor isn't scrambling to buy more at this price point before the rocket takes off. Maybe it's because so many people expect him to do it which is why short interest for MSTR sits at a staggering 15%.
https://x.com/PunterJeff/status/1783857494294761929
I know if I was Saylor I wouldn't want to give these greedy bears the satisfaction of diluting my own stock and giving them the win. The squeeze continues. It will be interesting to see where it all ends up, but at this point I consider MSTR the ultimate degenerate shitcoin. It's the only shitcoin in the world that Bitcoin-only apes are willing to not only accumulate but proclaim to the world what they've done and constantly post their big-bag victories. There's no shame in supporting MSTR... yet. Of course when it all blows up during the bear market people are going to be furious, but that won't happen for another year at least. I guarantee when it does MSTR will be valued less than the amount of BTC they control just like Greyscale, and everyone will be hopelessly confused about it. It's a soft peg people: get over it.
Conclusion
SHITCOINS!
SHITCOINS EVERYWHERE!
People like Trump and Saylor will never truly understand decentralization. Their entire professional careers depend on them not understanding it. Unfortunately crypto doesn't have any real heroes right now to rally around so the charlatans get their pick of the litter. Tread carefully.