GP / Executive Chairman @ Vibes Capital Management. 🇺🇸
Joined September 2021
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Sometimes I pause and reflect on the fact that my entire financial portfolio is currently composed of 1) an imaginary Internet ponzi coin and 2) the stock of a company famous for having the largest peak-to-trough drawdown in the history of financial market bubbles, and whose CEO is currently leveraged to the tits on the same Internet Ponzi coin (which he refers to as “the goddess of truth”), and that I consider this a sound financial strategy with a virtually 100% chance of retiring my bloodline.
Bit Paine ⚡️ retweeted
It’s a bit brutal but BTC is probably going to be the big winner of the AI revolution. I don’t think it will suffer any hacks, the scripting language formal verification is very advanced and work in formalizing the protocol too. Nodes running on different hardware make it very robust against hardware vulnerabilities, and their sources are probably one of the most audited code in the world. Combine that with self sovereignty which protects against political backslash from K shaped economy and acceleration of margins flowing to capital, I don’t see much else. To be honest this is my macro view but it’s a pretty grim one.
boomers are going to try to ban this, guaranteed
Bit Paine ⚡️ retweeted
Heatbit unveils Bitwater: a water heater element that mines Bitcoin.
Bitwater screws into the electric hot water heater tank you already have!🔥
Bit Paine ⚡️ retweeted
Had I sold 2,739 BTC a decade ago, I’d probably rather see it go to zero than live with the regret.
CHAMATH SAYS BITCOIN WILL EVENTUALLY BE HACKED AND GO TO ZERO
Speaking on the Moonshots podcast, billionaire investor Chamath Palihapitiya warned that advances in AI could eventually break Bitcoin’s cryptography.
He argues that the community is too divided to coordinate a transition to quantum-resistant security.
“I just think it’s capped, and then I think eventually it gets hacked, and then it goes to zero.”
Bit Paine ⚡️ retweeted
>the first Somalian to serve in Congress
>literally every single aspect of her entire life is fraudulent
Man haha what are the odds ?
Bit Paine ⚡️ retweeted
Tough one for @PeterSchiff
Last month, we demonstrated high-rate alchemy: turning mercury into real, stable gold, beating CERN’s record by a factor of 10.
Last week, we enriched isotopes in the world’s most powerful plasma centrifuge, beating the Soviet record that stood for 40 years.
Now, we’re building a fusion reactor in San Francisco to achieve record power density.
Bit Paine ⚡️ retweeted
There are a few things in life you should know with 100% certainty:
• Your name.
• Your birthday.
• Whether you married your brother.
the doubled edged sword of commodities is that as you exhaust easily accessible supply, rising prices coupled with deflationary mining tech opens up progressively less accessible tranches, and this supply elasticity guarantees that mining always remains viable provided demand exists and mining remains the only source of new supply
however, if a new industrial process allows supply to be created effectively from thin air at very low marginal cost, price may collapse relatively quickly such that those deep tranches become no longer profitable to mine, and the entire industry could collapse
diamonds have an additional wrinkle in that they’re not actually all that scarce, and the market price is propped up by a cartel with deep reserves
currently that cartel is desperately trying to convince people that mined diamonds should command a premium to synthetic, but if this ruse collapses quickly enough, you may trigger a “we are selling to willing buyers at the current fair market price” type of scenario where the cartel attempts unload its bags before the music stops, putting further, rapid, downward pressure on price
this is all compounded by the fact that buying cartel-inflated blood diamonds because they saw a silhouette ad on tv is a tremendously boomer-coded phenomenon
millennials and Gen Z have less disposable income early in life (they have to buy boomer mansions at a premium), are more socially conscious about not celebrating their engagement with some illiquid trinket a starving black child pulled out of the ground at gunpoint to finance a coup, and less susceptible to tv ads when they can ask the ai in their pocket to price a Chinese synthetic diamond in 5s
tldr: diamonds are a shitcoin, and you’re not bearish enough
Bit Paine ⚡️ retweeted
Apparently almost 50% of Somalians are the products of cousin marriages in the first or second degree. Could be that in a society that runs on near incest, things get confusing, and if someone asks if you married your brother ‘not to my knowledge’ is a reasonable answer.
Bit Paine ⚡️ retweeted
been fun watching Paine post receipts 😆😆
I wanted to do it but was too lazy
thanx to the man!!
Still here
Still bullish
yo @RayDalio may want to get some bitcoin
gold seems kinda risky
Last month, we demonstrated high-rate alchemy: turning mercury into real, stable gold, beating CERN’s record by a factor of 10.
Last week, we enriched isotopes in the world’s most powerful plasma centrifuge, beating the Soviet record that stood for 40 years.
Now, we’re building a fusion reactor in San Francisco to achieve record power density.