NEW: Bloomberg reports that the potential bailout of Spirit could result in the federal government owning up to 90% of the airline. Wow.

Bessent: I want to encourage everyone out there watching today to change their withholding ... you will get an automatic real wage increase on a weekly or a monthly basis.

Most assets struggle to reach a Sharpe of 1. $STRC is at 3.88.

Saylor: "In 2045, one BTC will be worth $13 million." That means in 19 years, Bitcoin needs to hit $273T MCAP. For perspective, that’s equal to: All global equities → ~$110T Every vehicle on Earth → ~$10T All the gold ever mined → ~$13T All the silver in the world → ~$1.5T Entire U.S. banking system assets → ~$24T All global residential commercial real estate → ~$105T Every piece of art, watches, and collectibles → ~$15T Now I see why people call us delusional 💀

The AI backlash is here. This post has a million views. People hate technology. They hate innovation. They see that it is coming for their jobs. Coming for their way of life. Innovation is asking them to do more work. To spend nights and weekends learning about AI and building new things. They hate that. And I've seen it my entire career as people tell me over and over again that they don't like what I'm pitching them. How many have gone to an Apple store and had a demo of the Vision Pro? Even in Silicon Valley I keep finding smart people who refuse. And my consumer research outside the valley shows far far greater resistance. There are couple other such posts this morning going viral: @zachweinberg: x.com/zachweinberg/status/20… @tszzl: x.com/tszzl/status/200248841… Here's the real problem. Let's say you burn down Silicon Valley. The Chinese are coming and coming with cars that will eviscerate the rest of the auto industry. Americans can't see that because we tax the heck out of them and keep them from selling here. And soon they are coming with robots. Americans can't see that because they aren't like me meeting with robot pioneers here and in China. Or watching the robot community here on X (or understand what they are talking about with their highly technical talks about world models and reinforcement learning. And they are coming with AI models. Most Americans are sticking their heads in the sand and ignoring what's going on on @huggingface and here on X. I talk to entrepreneurs around the world who keep telling me they are building businesses on Chinese models because they are cheaper and better. And they are coming with entertainment businesses that will eviscerate Hollywood. Most Americans see AI artists as anti human. The Chinese don't. The only way out of this is innovation. That's where any new jobs are gonna be. So go ahead and burn down Silicon Valley and San Francisco. That won't save your job and will doom America to being a poor country subservient to the Chinese. And, yes, we need to do a better job of explaining the role of innovation. But that job is bigger than what I can do. Why? Because people hate innovation and want to stick their heads in the sand, and even, roll back innovation, my posts aren't getting any reach here on X outside of a small group of innovation supporters. Well, I'll keep supporting the innovators. I made lists of almost all of them, 37,000 in AI alone, and 7,600 AI companies: x.com/scobleizer/lists But that isn't nearly enough. The entire industry needs to do a better job of talking to everyday people and getting them to see a better world is possible. For now all they hear is "you are taking my job." And they aren't wrong about that either. Which makes this all so difficult to get people onto the side of innovation.

The consensus rules have always been about morality One charge that's frequently levied at knotzis is that any attempt to reject spam at the consensus level is based on "moral" objections to spam transactions instead of "technical" objections. One problem with this... 1/4

CORRECTION: Nakamoto's has clarified that the balance decrease reported in its most recent Q3 financial filing were the result of funds invested in other treasury firms.

Part 4: Knots vs #Bitcoin Core Discussion w/ @murchandamus & co-host @jimmysong! * Part 5 w/ @knutsvanholm and/or @giacomozucco next week from @btchistoricosv event by @bitcoinofficesv!

JUST IN: JP Morgan CEO Jamie Dimon admits he was wrong and crypto is “Real.”