Joe Kernen wasnt havin any of Gensler's foolishness today. #bitcoin View quoted note β†’
I think ecash and/or fedimint solutions is the best way a bitcoin standard is implemented. In the future: L1 - Settlement layer and place where major funds are moved. Equivalent to wiring funds today. Basically too impractical for your everyday needs but critically important as this runs the whole thing. L2 - This is the credit card layer. This is the rails that the regular economy is built on. L3 - Ecash/Fedimint - This becomes the operability layer which is the UI for the Bitcoin standard. View quoted note β†’
Biden now a Bitcoin maxi??? Elizabeth Warren is going to have some words. image
"The NFL is rigged!" image
"Bitcoin is not crypto!" image
Announcer acknowledge Jay-C and BeyoncΓ© but no Jack Dorsey (@jack)?? Sweet Satoshi shirt by the way!
Just wait until the end of the year. View quoted note β†’
The Fed thinks it will pay this off in 2027!! Imagine any business that operates in a loss that long! β€œBut what happens when its costs exceed its income? In this case, the Fed creates a β€œdeferred asset,” which is a negative liability whose value is the cumulative value of the shortfall in earnings. Once the Fed returns to earning a positive net income, it will pay down the value of the deferred asset until it reaches zero, at which point the Fed will resume sending remittances to the Treasury. As of Nov. 8, 2023, the Fed had accumulated a deferred asset of $116.9 billion. In April 2023, the New York Fed estimated that the Fed will return to positive net income in 2025. Combining those New York Fed projections with the latest data on net income, we estimate that the Fed will carry this deferred asset until mid-2027, after which it will resume transfers to the Treasury.”
The Fed’s Remittances to the Treasury: Explaining the
The Federal Reserve typically generates excess earnings, which it remits to the U.S. Treasury. But what happens when the Fed’s costs exceed its i...
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This is pretty incredible View quoted note β†’
Fedimints and Cashu are how we win View quoted note β†’