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What's trending on Nostr over the last 24 hours?
quoting note1cj9…lkfkBroken Money was published a year ago this week
Thanks to everyone who read it, shared it, and reviewed it! 🙏
I resisted writing a book for years since it’s such a tedious process, until finally a book formed in my head that I felt needed to exist, and that was too distracting for me *not* to write. And then I poured everything I had into it.
quoting note1y5t…amjeTHE COMBINATION OF SIGNED MESSAGES AND KEY REPUTATION SYSTEMS WILL RESULT IN NOSTR BEING THE SINGLE MOST IMPORTANT OPEN DATA SET IN THE WORLD.
IMAGINE FADING THAT.
quoting note1emq…9ywjI took your advice and built a gif nostr companion app:
https://gifbuddy.lol/
You can download the PWA to your home screen, search for your gif, copy the address and paste it into your client
On the back end, for every gif that gets copied/clicked, an API request is made to upload to nostr.build (npub1nxy…avr7) by fishcake (npub137c…k37w)
From there a nip94 request is done so that the content can be accessed by any client in the future
Now, anyone who searches for gifs using this tool is also helping to build the gif repository for nip94 and adding fallback urls to nostr.build
And all they did was click to copy #gifs
quoting note1gl8…yv5kdamus is still the fastest out there
quoting note162u…k4szJust had an amazing interaction with a based (and clearly autistic) bag boy at the grocery store.
As he's bagging away at record speed he says " CORPORATE REQUIRES ME TO GIVE THIS FLYER TO YOU BUT I WANT TO LET YOU KNOW THEY ARE NOT LEGALLY ABLE TO FORCE ME TO PUT IT INTO YOUR BAG AND YOU DO NOT HAVE TO ACCEPT IT."
Then he holds up this "get your free flu shot!!!" flyer and I'm like "appreciate it man, you clearly read the fine print" and he responds "NO I DID NOT READ THE FINE PRINT BUT I THINK IT IS MORALLY WRONG THAT THEY ASK US TO SNEAK THESE INTO YOUR GROCERY BAGS. WE SHOULD NOT BE DOING THAT."
So I'm like "good looking out man, definitely don't need the flyer."
And he's like "GOOD. THEY CANNOT MAKE ME PUT IT IN YOUR GROCERY BAG."
And I'm like "appreciate you fighting the good fight."
And he's like "YES."
And by this time he's finished bagging everything because he's fast as fuck, and then out of nowhere he's like "AT LEAST THIS LATEST BATCH OF FLYERS DOES NOT SMELL LIKE DOGSHIT."
And the cashier is like "you probably shouldn't say that in a grocery store dude."
And he's like "BUT THEY DID SMELL LIKE THAT. I BELIEVE IT WAS THE INK THAT THEY USED."
Anyway, just wanted to share this story because it's a great reminder that YOU DO NOT NEED TO COMPLY WITH BULLSHIT, NO MATTER HOW SEEMINGLY SMALL, AND HAVING A TOUCH OF THE 'TISM CAN OFTEN HELP YOU SEE THROUGH THE BULLSHIT.
quoting note1hhz…s5hjnostr can’t go down note1je4…8lkc
quoting note1f0e…g7pl#Nostr
quoting note1sjm…67cgRiga dump 📸 #photography #photostr #riga #nostriga
quoting note133q…sw9yIf you intentionally go out looking for problems and drama, you’ll surely find them.
If you instead focus on constructive stuff, then some problems and drama will still find you because life is life, but usually way less.
quoting note1ed4…49qdOne of the big macro questions is when will the US banking system run into the liquidity floor, requiring the Fed to end quantitative tightening? Due to current regulations and the "ample reserve" regime, banks generally have liquidity requirements relative to their overall size, and their overall size keeps growing nominally.
-Big banks ran into the liquidity floor in September 2019 at $1.5 trillion with the repo spike, and the Fed had to end quantitative tightening and resume mild quantitative easing (which was then overshadowed by the giga-liquidity-bazooka in 2020/2021).
-Smaller banks ran into the liquidity floor in March 2023 at $3.0 trillion (the new floor) with the regional bank crisis. Both the Fed and the Treasury provided liquidity in response, although the Fed has maintained quantitative tightening. Liquidity has been maintained above that level without being greatly elevated, which is probably what would have happened post-2019 if not for the pandemic/lockdown stuff thereafter.
The New York Fed thinks the liquidity floor will be reached sometime in 2025, and that they'll go back to gradual balance sheet expansion then. Andy Constan, formerly of Bridgewater, thinks it'll be late 2025. I debate him a bit on this since both of us cover this closely, and I generally think it'll be mid 2025, although there are enough moving variables that neither early 2025 or late 2025 would surprise me, so conservatively I say "by the end of 2025."
I was talking to a large institutional investor today, and he said that his contact who is a major repo operator at an investment bank, thinks the current floor is now $3.3 trillion, which is roughly where it is currently. That basically means any further quantitative tightening has to be offset by reverse repo drainage, or they'll have a repo issue and the Fed will need to end QT. My estimate is somewhere in the $3.1-$3.2 trillion range for the liquidity floor, meaning I think there's a bit more room than that repo operator. But either way it's pretty tight.
This is all kind of rambling but generally when that liquidity floor is reached and is responded to, it tends to be good for a lot of liquidity-driven assets, including bitcoin. And it'll probably be with a whimper more than a bang, kind of like the September 2019 repo crisis that nobody other than macro nerds remember.
