Conversing with Grok…

Something interesting. Been following this parallel FTX case: Genesis/DCG. What was interesting about that bankruptcy was the the judge not only ordered that the lent crypto would have to be returned in-kind, he also treated the crypto, as per IRS rules as property, to be valued in-kind, NOT as the valuation of the crypto on the bankruptcy petition date.

For example, Bitcoin went up over that timeframe, so while say $20k at petition date, it was say $30 when the company emerged from chapter 13. BUT if 1 BTC was owed, 1 BTC had to be returned. Since only about 70% of the assets were still there, creditors only got that. It was slightly different for each due to some negotiations about fair math, etc. Really fucking complicated stuff, but the gist is what the judge did.

Fast forward and the creditors are now going after the parent company, Digital Currency Group, and a number of individuals, e.g. Barry Silbert, in alter-ego litigation. Their baby is the Greyscale Bitcoin ETF which competes with Blackrock and Fidelity's Bitcoin ETFs. (The lent funds at Genesis were being siphoned into that trust through 3rd parties. They were also lent to 3AC, and maybe Alemada, FTX's Hong Kong hedge fund run by that ugly GF.)

Here's where is gets interesting. The bankruptcy losses for the creditors are not realized until all avenues of litigation have ended. Because crypto is property, property is valued at the fair market value on the day the loan is considered worthless (post-litigation), and the price of bitcoin just keeps rising and rising, the USD valuation of the unrealized loss just keeps going up.

For example, if you had 1 BTC at $10k cost basis, got back 7 BTC in the bankruptcy, and didn't get back the 3 BTC in the litigation, those 3 BTC are not worth $3k. They'll be worth 0.3 x price of 1 BTC the day the litigation is over sometime between 2026-2028. BTC could be between $150k-$1M by then. The loss could be valued at $300k in the latter case.

Well, that's all nice and dandy for the creditors who could sell $300k…or $300M of bitcoin and offset any gains with an equivalent loss to pay $0 in taxes.

The kicker is what this sets in legal precedent. Not only are companies totally fucked if they fuck around with people's crypto, their parent companies are too, as the valuations just keep going up. Now, apply this to banks and the government, think about the incentive structures, and what could be possible or in the works. Bankrupting the banks, the Fed, the government itself?

Now think about how Trump is trying to establish the Strategic Bitcoin Reserve and potentially save the world and reestablish balanced stolen wealth without causing too much angst.

The end will be Biblical. The end is…the beginning. "Genesis"

>>23274549

>Now think about how Trump is trying to establish the Strategic Bitcoin Reserve and potentially save the world and reestablish balanced stolen wealth without causing too much angst.

Hypo: if Satoshi lends his BTC to the Fed, and the Fed loses his BTC, then Satoshi has a claim against the Fed for the property valued at the end date of all bankruptcy and litigation. If on that date, those roughly 1M BTC are worth trillions (many millions per BTC), then that is the realized date for the loss.

Now say that Satoshi is the US government (the american people). We owe the Fedtrillions. If "Satoshi" lent the fed/whoever 1M BTC as a trojan horse, they lost it by doing some BS with it, and we bog them in litigation until BTC is worth millions, then all of the sudden they owe satoshi trillions. The legal precedents are being set. All we need is a bit of time and a lot of BTC adoption and USD inflation while keeping the government bogged down in litigation. This might take a number of years still, but the day the debts pair out, the game is over. BTC is going to be worth many 10s of millions, although maybe only a couple million in today's dollars. It's a multi-pronged strategy.

https://www.zerohedge.com/political/us-patriotism-among-democrats-crashes-some-voices-party-grow-louder-marxism

But here's my question. Are democrats becoming less patriotic?

OR

Are there simply less people identifying as democrats, which raises the percentage of unpatriotic democrats as a consequence?

>>23274582

>Bitcoin is a Chinese psyop (Satoshi is Chinese intelligence) to destroy the American dollar as the worlds currency and destabilize the United States.

Is that supposed to be a bad thing? kek. The trojan horse worked, remember?

>>23274593

100% (…until $25k, the you gotta pay tax on those tits)

>>23274931

>honeypot of finances?

counter solution to babylonian slave gardens

>>23274894

>Has CNN ever tried not being fake and cringe?

>>23274949

>8: THE WHOLE THING IS BEYOND PATHETIC AT THIS POINT

Taking bets on line-item vetoes and impoundments from 12-4pm…

At this point, if you get sick from COVID, I'm assuming you're a pedophile.

>>>23274775 Senator Chuck Grassley: “I'm going to make sure that everybody is exposed and the documents prove it for the eight years that the opposition was trying to put President Trump in prison.”

superkek from the archives

>>>23273480 Boxer Julio César Chávez Jr. arrested by ICE, to be deported

et tu brute?

>>>23273520 Abrego Garcia livin' the best life as a criminal in custody for serious crimes I've ever seen

State's Witness=the least culpable criminal.

No immunity deal but a cozy AF stay at Hotel California.