a rare moment that I read as a signal, not as business-as-usual noise:
1. https://www.state.gov/sanctions-on-irans-oil-trade-to-reimpose-maximum-pressure/
2. https://oilprice.com/Energy/Energy-General/Iraq-Reiterates-OPEC-Pledge-Ahead-of-Restart-of-Kurdistan-Oil-Exports.html
3. https://www.bbc.com/news/articles/c62zzv02r3vo
4. https://www.bundesregierung.de/breg-en/news/eu-sanctions-2336106
1. https://www.state.gov/sanctions-on-irans-oil-trade-to-reimpose-maximum-pressure/
2. https://oilprice.com/Energy/Energy-General/Iraq-Reiterates-OPEC-Pledge-Ahead-of-Restart-of-Kurdistan-Oil-Exports.html
3. https://www.bbc.com/news/articles/c62zzv02r3vo
4. https://www.bundesregierung.de/breg-en/news/eu-sanctions-2336106
United States Department of State
Sanctions on Iran’s Oil Trade to Reimpose Maximum Pressure
The U.S. Department of State is today designating 16 entities and vessels for their involvement in Iran’s petroleum and petrochemical industry. The Department of State and the Department of the Treasury’s Office of Foreign Assets Control (OFAC) are concurrently…
If you ignore the politics, this appears to be a very cognitive article
https://endtropy.substack.com/p/trumps-enormous-c-length-win-over
https://endtropy.substack.com/p/trumps-enormous-c-length-win-over
Substack
Trump’s Enormous C-Length Win over China
Vertically integrated, biophysical economic research. Quantifying the Collapse.
With institutional adoption (ETFs, Derivatives, Tax and Investment Regulation), Bitcoin is not a joke anymore, it is a financial asset.
I don't understand Bitcoin.
I don't hold assets I don't understand.
I don't judge assets I don't understand.
More thoughts to follow.
I don't understand Bitcoin.
I don't hold assets I don't understand.
I don't judge assets I don't understand.
More thoughts to follow.
Bitcoin is not money, because no goods are priced in Bitcoin.
When you pay for goods or services with Bitcoin, the price you pay is converted from the USD or another national fiat currency.
Bitcoin is not a commodity, because it's not used in production of any goods, food, or energy.
Bitcoin is not a share and not a bond, because holding a Bitcoin doesn't give you any interest in a form of a dividend or a coupon payment.
Neither is it a note, a swap, a loan or a repo agreement.
But still it is an asset being held, traded, hedged, without any legal obligations or liabilities from it's issuer (which is a decentralized network of CPUs running the algo).
When you pay for goods or services with Bitcoin, the price you pay is converted from the USD or another national fiat currency.
Bitcoin is not a commodity, because it's not used in production of any goods, food, or energy.
Bitcoin is not a share and not a bond, because holding a Bitcoin doesn't give you any interest in a form of a dividend or a coupon payment.
Neither is it a note, a swap, a loan or a repo agreement.
But still it is an asset being held, traded, hedged, without any legal obligations or liabilities from it's issuer (which is a decentralized network of CPUs running the algo).
There's no other way to calculate/project Bitcoin's fair value than modelling/guessing its supply and demand for a given moment in time. Which in turn are purely speculative for an asset without any cash flow.
It's much simpler to apply traditional valuation models to a cryptocurrency that generates cash flow.
As blockchains are transparent, it is also possible to measure the usage volume of a certain network and project it further.
Proof of stake networks complicate this calculation, but still provide a lot of data to monitor and use in projections.
For an end user, holding a cryptocurrency/coin generating cash flow with predictable but still floating yield is no different than holding a traditional financial asset.
But not Bitcoin...
As blockchains are transparent, it is also possible to measure the usage volume of a certain network and project it further.
Proof of stake networks complicate this calculation, but still provide a lot of data to monitor and use in projections.
For an end user, holding a cryptocurrency/coin generating cash flow with predictable but still floating yield is no different than holding a traditional financial asset.
But not Bitcoin...
Trade Like You Mean It
I don't hold assets I don't understand.
Neither I short the assets I don't understand.