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10 min read Newsletter

2023.48 - F*ck you

TLDR: If you're not saving in Bitcoin your hard work is being stolen from you by those who can lower the value of your money. They'll deny it as they pick your pockets dry. It's time to send them a message.
2023.48 - F*ck you

IMHO

In the clip that rocked the web, Elon Musk told "adversarial" advertisers to Go Fuck Themselves, going on to say:

"what I see all over the place is people who care about looking good while doing evil. Fuck them." —Elon Musk

I'm a begrudging Elon admirer. I don't like most of what he does but sometimes you have to give the man credit. This is one of those times.

Saying Fuck You to the Thought Police is a vital endeavor and hopefully a growing trend.

In an age where all sense of shame or journalistic integrity have been lost and The Atlantic —FUCK THEM— has the stones to print headlines like "Inflation is Your Fault", it's worth remembering why Bitcoin is Fuck You Money.

First a primer of what Fuck You Money actually is. It's not about the flashy car or the MacMansion with a "Great Room" and a "Man Cave", it's about avoiding indentured servitude.

And Bitcoin specifically and uniquely, qualifies as the ultimate Fuck You Money:

Those who understand this have placed a financial and emotional bet on a better future —and believe me hodling through a bear market is a deeply emotional experience.

We are still far (more than 60% to go) from a new old-time high. But some of the very big, very public bets on Bitcoin —like Microstrategy and El Salvador— are now in the black, and that's not the only way in which they're winning as this account from a trip to El Salvador shows.

Is the IMF and the journalists who mocked El Salvador going to apologize or retract themselves? Can we expect a follow-up from the likes of Mr. Vigna at the Wall Street Journal?

It would be less irksome if those doing the criticizing were not also cheerleading the real irresponsible and fraudulent behavior, whether by governments

or financial institutions

Please tell me more about what great news it is that Binance's new Compliance Officer Noah Perlman is going to govern Binance harder .

[Perlman] is in charge of compliance with the financial mafia that runs commercial and central banks. While the Binance settlement has been heralded as “bullish” for crypto, it is hardly a thing to celebrate —Whitney Webb

And don't get me started on how the people who own and operate the global money printer have managed to rack over $120 Billion in losses this year —FUCK Them.

Coinbase (fuck them for continuously disrespecting Bitcoin) made a phenomenal ad —credit where it's due— which is worth a minute of your time (the version linked below was, ahem, "liberated" from Coinbase branding):

It's not that complicated. The system is corruptible, hence it is corrupted and has been for a long time.

You know exactly what message to send them.

Bitcoin News

Intelligence Test

The Gigachad's MicroStrategy acquired an additional 16,130 BTC this week (~$593 Million) bringing their total holdings to 174,530.

How's that working out for them? Try spectacularly. He's not only putting the NASDAQ to shame, he's even outperforming Bitcoin itself.

He's no longer alone though.

We don't know who these entities are but they are stacking HARD. "Mr 4 Million" has been buying USD$4 Million every day regardless of price

And someone else(?) is buying hundreds of Bitcoin per day.

You see, front-running the Bitcoin ETF is one of the most obvious and telegraphed plays ever.

With all its good and bad parts (there's plenty of both), the ETF will be a game-changer, not just for Bitcoin, for the industry of finance itself.

It will take time for the broader market to develop an understanding of Bitcoin, but it's already starting to happen and nothing turns heads like Number Go Up.

Mining

Ocean Mining is a rebrand of Eligius, a pool run by Luke Dash Jr. and backed by Jack Dorsey.

it intends to give miners a more direct experience of mining (as opposed to just hashing). The first 5 minutes of the clip in the tweet below have a great overview of some of the current issues with mining.

Braiins also announced it will be making changes to how they calculate their payouts (making them steadier over time)

Fakkuzemu

Japan has imposed an INSANE 110% inheritance tax on Bitcoin. FUCK THEM.

"Crypto" News

The jokes often write themselves

Moar Rules

New rues are being proposed by the Treasury to the Senate Banking Committee regarding their powers as they pertain to Crypto, Money Laundering and the Bank Secrecy Act.

According to Austin Campbell they brea down into two basic prongs: updating (and upscaling) sanctions and tools, and updating definitions.

Treasury is asking for the broadest expansions of powers since the Patriot Act, and in a way that makes a mockery of some of the technical details of modern communication with the side benefit of probably causing major geopolitical conflict due to the overreach. This is not a well-reasoned, balanced proposal. —Austin Campbell

Unsurprisingly, they open with the debunked claim of Hamas funding their operation through crypto. Fuck them.

Bedfellows

Ronaldo can't catch a break these days.

Fiat News

Finally

Gold is breaking out and has already made a new all-time high. Some are wondering what may have broken "backstage" to prompt the move.

Inflation

Don't let them gaslight you. Inflation is neither your fault nor "all in your head".

Mountains

Interest expense is now larger than Military expense and debt keeps rising like it's going out of fashion.

Meanwhile the Reverse Repo is being drained to purchase all that debt. We'll see what happens to the "soft landing" once its completely drained.

QE

If you want to see the real-life impact of QE, this ad by Canada's Perre Poilievre drives the point home. You can probably skip the second part (unless you're interested in Canadian politics) but the description of the problem at the start of the clip is compelling and horrifying.

Dystopian News

Paris has Fallen

You will not have freedom of movement in the City of Lights. It's only temporary, of course. Just because of the Olympics.

Unrelated Fun Fact: Mexico didn't use to have an annual vehicle tax. It was put in place to help "cover the cost of hosting the Olympics". It's still in place. The Olympics were held in 1968.

FUCK WHO

Speaking of Mexico, they raised a proud middle finger to the WHO dictatorship proposal (Pandemic Treaty). Bravo señores

Price News

Bitcoin Surfing

Bitcoin seems to be enjoying the fresh air, not waiting for the Board ($36.5k) or the Water ($30.4k) to catch up to it

Dip Fishing

Bitcoin had a nice pump, crossing the $38k resistance decisively. Currently hanging around $40k, the next strong resistance is at $42k. Will we revisit $38k?

Calm Chart

November closed Green and December greeted Bitcoin with a nice pump. Let's see if we get a Santa rally.

Published by:

₿ Coach

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