December 15, 2023

Newsletter #227 - Digital Artifacts & Money Management

Hey Shitcoiners,

As we edge closer and closer to $25k, things are heating up. To commemorate the inevitable passing of that number, we are launching a limited edition “We Are So Back” t-shirt! Follow us on Twitter and send us a DM saying “We Are So back”. You may be selected to receive a free t-shirt.

It has been an interesting week and Bitcoin has been one of the focal points. Former Bitcoin Core contributor Casey Rodarmor is causing a stir with Ordinals, “digital artifacts native to the Bitcoin blockchain” or “NFTs on Bitcoin” for short.

As you can imagine, some Bitcoiners thought this was a massive waste.

But there was pushback. Director of Autistic Communications, Bryan Micon, was quick to point out that SODAPEPENSKI on-chain might make this worth it.

Clicking that post above will reveal an exceptional thread. Here are some of the highlights.

There’s even a song!

What could have been…

While the timing of Ordinals may be much better than it would have been back in 2012, it’s worth pointing out that this is not a new concept.

Alas, we have our first bit of porn!

But the hanky panky on the blockchain might not last that long…

Are you a little bit lost on what all of this means? Here’s an interesting thread to peruse at your leisure.

While the thread started with a tone that tells you Ordinals are bad, it offered some fairly balanced arguments. Is this good for the security budget?

If you are looking for a deep dive then check out this episode of the Stephan Livera Podcast with Casey.

Enough “NFTs on Bitcoin” talk, here’s a billionaire with a new level of cope. We need to load a wallet with moonshot tokens for 99 year old Charlie (yes, he’s 99 years old). Imagine if he felt the rush of a 100x!

CT had some solid points.

But as Udi highlighted in this reply to Elon, most of this space is pretty bad with money. Degens and Munger are not the same.

This explains our GMI strategy quite well.

As the market looks more bullish by the day, the big dogs are back.

Alameda/FTX will not be among the big dogs of the next run. Word on the street is that Sam tried to “win it all back” at the Blackjack table. Big if true.

We are also hearing rumours that he’s trying some more shenanigans in hopes he comes out of this scot-free.

Speaking of falling out of favor, Layah Heilpern is getting some heat.

What’s a newsletter without a hack? Imagine going to the effort of pulling this off and only being able to take $1M out. NGMI.

We round this one off with a future icon. Pretty accurate, innit.

That's all for this week. Follow Andreas on Twitter and stay up to date with us @Shitcoindotcom too. See you next time.