Bitcoin miners are simply ~5 year Bitcoin bonds. Everyone should buy one. Better yet, buy and host on @compass_mining
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Many thoughts on this. While I don’t disagree, there are some fascinating non-obvious dynamics below the surface.
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Would love to hear the intricacies some time. The more I ponder it the cooler it feels. Makes vanilla fiat fixed income seem so… meh.
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BMN mining note makes sense to me. Interesting thing is when hashrate infiltrates traditional bond markets, Eg Mortgage bonds with hashrate inside, 70% goes to home, 30% to buy hashrate, interest from the mortgage is reinvested to pay for electricity for the miners
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Replying to @arush @zallarak @harry_sudock @compass_mining
Even better if bond capital is for zero down mortgages using bitcoin as deposit instead of cash btc borrowing is zero loss biz. btc+home blended collateral means no daily mark to market or liquidation risk if btc dumps. Lender has most pristine collateral known to man @4nkush

Jan 5, 2022 · 12:25 PM UTC · Twitter for iPhone
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