@jon2dayi
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Remember the Future. Hard money and a low time preference pave the way to the future. The orange coin is the monetary language that helps us remember. #Bitcoin
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Joined May 2022
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J2Day retweeted
It’s time KYC and AML rules die.
The entire concept never made sense.
It ads friction. It’s an illegitimate and unethical use of government power. It does no net good and stops virtually no crime.
Time for it to go.
JUST IN: 🇺🇸 SEC Commissioner Hester Peirce calls to end mass KYC data collection, warning it puts crypto holders at risk of phishing and physical attacks.
Pierce says the current KYC/AML system creates massive databases of sensitive information that can be hacked, leaked, or exploited.
She's pushing for zero-knowledge proofs (ZK proofs) that could verify users meet regulatory requirements without exposing their personal information.
J2Day retweeted
Peter Schiff says tokenized stocks are bearish for Bitcoin because now it has to “compete” with dividend-paying tokens.
There it is. The tell.
After all these years, he still thinks Bitcoin is a stock substitute.
It’s not.
Tokenized stocks = same company, same board, same dilution risk, same dollar denomination, same monetary system.
Bitcoin isn’t competing with Apple stock.
It’s competing with the currency Apple stock is priced in.
nitter.cf/PeterSchiff/status/210…
Yesterday’s big Bitcoin rally following the SEC’s tokenized stock announcement makes no sense. The news is actually bearish for Bitcoin, which must now compete with tokenized securities. Digital ownership of tokens backed by profitable, dividend-paying companies is a superior, more reliable store of value than a token backed by nothing. Tokenized stocks offer all of the conveniences of Bitcoin, but without the risk of a decentralized Ponzi scheme collapsing.
Just Bitcoin.
🚨TODAY: The SEC just released NEW FAQs on CRYPTO assets, clarifying how securities laws apply to certain tokens and transactions.
KEY POINTS:
- A token and the investment contract used to sell it are not necessarily the same. A token can later exist as a non-security crypto asset.
- Functionality and decentralization depend partly on what the issuer actually promised buyers.
- Staking receipt tokens are not automatically securities. Some may qualify as digital tools or digital commodities.
- A true crypto “receipt” only represents ownership of the underlying asset. The issuer cannot lend, pledge or rehypothecate it.
- Marketing a network’s utility or future features alone does not necessarily create an investment contract.
- If another party takes over the issuer’s promises, the investment contract does not automatically disappear.
- Developers can continue maintaining and upgrading a functional network without those efforts necessarily satisfying Howey.
- On a decentralized network with no central controller, issuer statements are less likely to create a new investment contract.
- Token buybacks are not automatically securities-related, unless tied to promised yield or returns before the network is functional.
- Exchanges offering secondary trading are not automatically considered promoters.
OVERALL, the new SEC FAQ is focusing more on what the token actually represents, how functional and decentralized the network is, who controls it, and what was promised to buyers.
Of note, these are FAQs issued by the SEC’s Division of Corporation Finance staff, NOT new SEC rules.
J2Day retweeted
In his 1976 book called "Denationalization of Money", Friedrich Hayek said:
"If money is a state monopoly, the state will always be tempted to make more of it. The only protection is competition."
Bitcoin is that competing money.
The government's playbook since 1971:
1. The government spends more than it earns.
2. It must take on debt to fund the difference.
3. The Fed creates money to buy the debt.
4. More money makes every dollar worth less.
5. Everything gets more expensive.
J2Day retweeted
After yesterday’s abysmal 5-year Treasury auction (5.033%, BTC 2.21, ~3.1 bp tail),all eyes will be on today’s $44 billion 7-year auction. A big tail is unexpected after yesterday’s weakness, with investors already anticipating a higher yield. Instead, watch for BTC under 2.5, high dealer allocation (>12%), and indirect (foreign) demand under 60% for signaled weakness. An auction like this will show increasing market dysfunction.
J2Day retweeted
🚨BREAKING: The U.S. 30-year Treasury yield has risen to its highest level in more than two decades.
US30Y hit 5.44%, a level last seen in June 2004.
This means investors are demanding much higher returns to lend money to the U.S. government for 30 years.
The selloff deepened after strong U.S. business activity data, rising Fed hike bets, and weak demand at a $70B 5Y T-auction.
The Treasury is trying to ease pressure with up to $6 billion in long-bond buybacks, but yields are still pushing higher.
When the 30-year yield rises, mortgage rates, corporate borrowing costs, and government interest costs usually rise too.
It also puts pressure on stocks and crypto because higher yields make risk assets less attractive.
In simple terms, the bond market is saying money is getting more expensive again.
Next, markets will watch inflation data, jobs data, Fed comments, and Treasury auctions to see if yields keep rising or finally cool off.
J2Day retweeted
INSTEAD OF WATCHING AN HOUR OF NETFLIX TONIGHT.
This 20 minute lecture by Andreas Antonopoulos will teach you more about the financial surveillance complex and KYC risks, than most people learn in years.
Bookmark it and share it, no matter what.
Cyclers always knew this was a temporary structure. You can't have adoption without change.
⚡️The four-year cycle was never some mystical law. It was a market structure.
Halvings mattered because miner issuance was large relative to available demand. Retail reflexivity mattered because the market was thinner. Leverage mattered because crypto-native capital dominated. When those forces lined up, Bitcoin produced gigantic booms followed by 70% to 85% collapses.
That structure is changing.
ETFs, institutional custody, corporate treasury demand, sovereign interest, derivatives depth, and a much larger base of long-duration holders are creating persistent absorption that did not exist in prior cycles.
So the market can still have brutal corrections, but fewer coins are being thrown back onto the market simply because price falls.
That is how you get a 30% drawdown where previous cycles produced 70%+.
The bigger implication is that the halving is losing its monopoly over Bitcoin's clock.
Bitcoin is increasingly trading on:
global liquidity
real yields
Treasury stress
institutional allocation
regulation
fiscal credibility
sovereign demand
That is a much more mature macro asset.
And this connects directly to everything we have been discussing.
Right now real yields are high, the bond market is tight, the Fed is restrictive, and energy is creating inflation pressure.
Under the old crypto regime, that setup could have produced a catastrophic unwind.
Bitcoin being only roughly 30% below its high despite all of that is itself information.
The buyer underneath Bitcoin has changed.
J2Day retweeted
FOREIGN BUYING OF U.S. TREASURY BILLS COLLAPSES 80%
Net foreign purchases of US T-bills fell from $250.5 BILLION in the 12 months through July 2025 to just $49.4 BILLION in the 12 months through July 2026, according to the latest U.S. Treasury data.
That’s an 80% year-over-year decline.
Foreign official institutions actually went from +$138.1B of net T-bill purchases to -$55.6B over those respective trailing-12-month periods.
J2Day retweeted
The current state of the US government: $40 trillion of public debt + over $100 trillion of unfunded liabilities being serviced by approximately $5 trillion of tax revenue annually while running $2 trillion deficits.
This is like a person who has $2.8 million of debt, take home pay of $100K and personal expenses of $140K, adding $40K+ to that debt very year.
J2Day retweeted
Who else bought the Bitcoin bottom?
Those government obedience tokens are now up 42% as BTC.
The first time I heard about immutable rules, I was in.
You didn't get worse at earning.
The ruler got shorter.
Since 1913, the dollar has lost roughly 97% of its purchasing power.
Three dollars back then bought what $100 buys today.
That's not just inflation.
That's your time and your life being stolen.
Nobody voted for inflation.
Nobody sent you a receipt.
Nobody offered an opt-out.
They just reached into your savings while you slept and shaved off another slice.
Bitcoin's supply is capped at 21 million.
Forever.
With Bitcoin they can't steal your life through inflation.
Study Bitcoin.
Germany destroyed its own price controls in 1948 and watched an economy resurrect itself inside eighteen months.
Ludwig Erhard did it unilaterally. On June 20, 1948, he abolished the Nazi-era price and wage controls that the Allied occupation forces had maintained, then went on radio to tell Germans what he had done before anyone could stop him. The American occupation authorities were furious. General Lucius Clay demanded an explanation. Erhard told him he had not reformed the controls, he had abolished them.
The results were immediate. Goods reappeared on shop shelves within days. Germans who had been hoarding anything of tangible value started trading again because currency reform and price liberalization made holding marks rational for the first time in years. Industrial output rose 50 percent in the six months following the reform.
The villain in this story is price controls, and the economists and bureaucrats who insist they tame chaos rather than create it. Price controls tell producers to stop producing and tell consumers to hoard. Every time. The postwar German black market proved it: the official economy was starving while the illegal economy fed people. Erhard simply liberated the black market by freeing prices.
You benefit from this history whether you know it or not, because it settled an empirical argument that interventionists have been trying to reopen ever since. Free prices coordinate production without a central planner. Suppress them and you get empty shelves and queues. Germany in 1946 had both. Germany in late 1948 had neither.
The so-called Wirtschaftswunder, the economic miracle, was not miraculous; Erhard applied basic economic logic that Friedrich Hayek had already formalized in 1945 in "The Use of Knowledge in Society." No central authority possesses the dispersed, local, constantly changing information that prices aggregate and transmit. Bureaucrats trying to set correct prices are not just inefficient; they are epistemically incapable of the task. Hayek made the theoretical case, thrn Erhard ran the experiment on a starving nation, and proved it.
West Germany grew at roughly 8 percent annually through the 1950s. East Germany, running Soviet central planning across the same ethnic population with similar prewar industrial infrastructure, stagnated and eventually built a wall to prevent its citizens from leaving. That comparison is about as clean a controlled experiment as political economy ever produces. Same people, same history, radically different institutions.
The lesson: prosperity flows from secure property rights, sound money, and voluntary exchange. Erhard gave West Germans all three in one afternoon.
J2Day retweeted
⚡️The largest fortunes are usually built by owning the bottleneck through which the future has to pass.