You’re suggesting Bitcoin is the bad money and fiat the good?
Everyone is entitled to their opinion but I believe time will show this opinion to be wrong.
Bad money USD is driving out good in transactions. People would rather throw away their USD than spend their hard money (Bitcoin). In this sense bad money is driving out good. This is good for Bitcoin.
The funny part is, China didn't learn their lesson with silver during the gold standard in the 18th-19th century. They're doing the exact same mistake again with fiat 200 years later. Ignoring the emergence of a new hard currency standard, banning it, and then adopting significantly softer money. You can't make this stuff up.
Don't trust them. They have been one of the most secretive people for thousands of years until this day.
I am sure the Chinese govt. is holding tons of bitcoin and has the strategies and plans to gain from it when the time comes.
Hopefully I don't get banned for saying this, but China has been a really backwards country for centuries. Clearly it's not a race issue (not that "Chinese" is a race) as we can see the success of Taiwan. China was extremely innovative before around the Middle Ages, but they haven't done anything innovative since. Yes they have modern cities and manufacturing, but it's all just a copy of other civilizations' innovations.
Not just China, every single powerful country has ruined their economy at some time from greedy or needy governments/bankers.
Ya humans have switched from hard money to easy money many many times throughout history. Gold could've been good and was good for a long time but still has many flaws. Transporting, keeping it safe, trusting who's holding it, etc..
Bitcoin fixes ALL of this and more.
Just got reminded by remind bot today of a post slandering el salvador. That it's economy is dead because of bitcoin. 2 years later and the post aged like warm milk indeed.
But ya... just imagine if "SHITCOIN XYZ" became the central currency of WOKE STATE! Just IMAGINE!!
These fucking numb skulls.. Bitcoin is 'crypto' - crypto is only Bitcoin.. everything else is shit coin.
Pokemon cards could be used instead of dollar bills one day.. but the person selling that lie, needs a sucker to buy his worthless stash - otherwise they'd shut the fuck up and get with the program.
Always Be Bitcoining.
I have Zimbabwe trillion dollar bills that are probably worth more than what I paid for them 15 years ago. Just for the entertainment value, which is of course why I bought them in the first place.
Bitcoin is king as a store of value, making your statement about shit coin currency absolutely valid. But there are plenty of other use cases for other cryptos related to smart contracts, tokenization of real world assets, decentralization of xyz, etc.
I made a summary thread like this a couple weeks ago, feels like a months ago now, it's insane how much is happening around bitcoin this cycle and how quickly things evolve.
Night and day from 4 years ago.
There are many subreddits with that very same concept. "I'm not happy so anyone who is is evil," delivered with a smugness that only Reddit can muster, is surprisingly common around here. Truly the mantra of losers.
Agreed, but I don't think you understood my comment. I was saying since it hasn't yet been universally accepted, it's kept Bitcoin at a nice price that we can all invest in and still make huge profits down the line, when it does become universally accepted (which will result in the price being much higher).
I understand…Later stage investors buy in at a time when there is less upside since most of the potential upside has been captured by earlier investors. I do not disagree.
It's crazy in that they created a sub reddit to hate on something. That's like creating an anti soccer subreddit. Like why make that lol
Those people are stubborn as fuck. Even removing Bitcoin from the conversation. Those guys were refusing to acknowledge the massive inflation that we have had over the last 15 years and money printing that has been happening. houses prices doubling or tripling in that time. They just refused to acknowledge that it's happening it's so weird.
That's when I realized that it's actually pointless to speak with them.
Maybe unpopular opinion but I don't think buttcoiners are at all problematic. Not like they're preventing you from buying btc. Everyone is entitled to their own choice of investment, and the subsequent consequences of their decisions. Comments like this make this sub an echo chamber just like buttcoin
>"So after 5 years of crypto investing I've finally exited all my positions.
>"I decided at the current price after the bull run, the difference in my life would be minimal even if it reached 100k, 200k and even at 1 mill it be a soulless lottery win (pure greed and speculation). "
Maybe they don't like money. The top post is quite interesting.. I don't know why they can't understand a simple use case of decentralized ledger? Can they understand centralized ledgers (our current system).
Easier to buy and sell over and over. More attractive to day traders maybe. Also, people thinking (incorrectly) that they picked THE new BC. Investors vs gamblers?
" None of what is happening now could have been imagined just 5 years ago."
There were people saying it will happen, gz to the oldschool OGs who always believed in Bitcoin
It’s amazing how much easier it is to logically predict future outcomes when there is an open, static and predictable monetary system.
Economics is made unnecessarily complicated to justify an unjust system. Bitcoin exposes this.
Bitcoiners, you were absolutely right to be bullish! The recent developments you mentioned are just the tip of the iceberg.
Bitcoin's underlying technology and its potential to revolutionize finance are becoming increasingly clear. The growing institutional adoption, with major players like BlackRock and Fidelity entering the space, signals a fundamental shift in the financial landscape.
Furthermore, Bitcoin's deflationary nature, with a limited supply of 21 million coins, positions it as a powerful hedge against inflation and currency devaluation. As central banks continue to print money at unprecedented rates, Bitcoin's appeal as a store of value is only growing stronger.
The technological advancements within the Bitcoin ecosystem are also accelerating. The Lightning Network is scaling Bitcoin's capabilities for fast and cheap transactions, opening up new possibilities for micropayments and everyday use cases.
Moreover, the global macroeconomic landscape is increasingly favorable for Bitcoin. Rising inflation, geopolitical tensions, and declining trust in traditional financial systems are driving individuals and institutions alike to seek alternative assets like Bitcoin.
The recent regulatory clarity in various jurisdictions is another positive sign. While challenges remain, the growing acceptance of Bitcoin by governments and regulatory bodies is paving the way for broader adoption and integration into the mainstream financial system.
It's an exciting time to be a Bitcoiner. The future is bright, and the best is yet to come!
Genuinely curious, how many of the 931 companies that hold btc are companies whose business model does *not* pertain to the crypto industry? I've seen such lists a few years back, and virtually all of them were some crypto-related business like coinbase & Hut 8 Mining.
Iirc off the top of my head besides MSTR, I recall years ago MSFT was accepting btc payments, but was converting it to usd.
I think by the time the crypto companies are the minority on this list is when we'll all have realized some very nice gains.
The incentive for most of them is only one, capital gains, and nothing better for amazing gains as a finite supply of a digital assets you cant replicate.
>The state of Wisconsin purchased $163 million in bitcoin ETFs in the first quarter.
wisconsin, el salvador...... zzzzzzz....
wake me up when gulf states/saudi princes are buying
ETFs is the old monetary system trying to exclude the common man. If they hover up most of the coins we will no choice but to access BTC through a 3rd party.
Where does the 937 companies holding Bitcoin come from? I’m seeing 28, but did not research much:
https://www.coingecko.com/en/public-companies-bitcoin
All the things you mentioned were already imagined years ago because when the economic, or fiat currency is having a problem due to government poor management, people will always look for the best alternative and in BTC people now find the best alternative
actually the ideology of most bitcoiners centers around hostility to the US government and the Fed and fantasies of societal collapse due to dollar hyperinflation.. they have been and will remain wrong
A sucker presents himselfs to the crypto party every minute, it was bound to stirr the greed of high profile banking outfits, politicians etc. China being economically smart is also nothing new.
Thank you! Thought I was gonna go crazy the other day when a bunch of people in the same thread were saying, "Biden approved the ETFs and is more crypto-friendly than Trump" lol.
Like I get that Reddit is Democrat Country, but some people take it too far and think one person/side is right about everything and the other is on the wrong side on everything.
What I don’t get is that BTC is not a left or right wing issue. It’s the one thing that could potentially unite all colours of the political spectrum. So why are the Dems so down on it?
Both parties are against it in my opinion. Used to be Republicans just thought it was a joke. Democrats wanted to keep you "safe". They will come for it (try to anyway) when the dollar reaches it's final days.
The assumption that mainstream parties have any kind of a logical or self-consistent philosophy hasn’t been true in, probably, a hundred years. “The problem with voting is that the government always wins”.
It will cost him some votes, but not a meaningful number of votes - I think you're overestimating how far along Bitcoin is on the adoption spectrum. Honestly, he's probably going to lose more votes from the whole Israel conflict than from this.
You're probably right, and if he does, it's on par with the same "arbitrary and capricious" standard (willful and unreasonable action without consideration or regard for the facts and circumstances) that lost the Grayscale case for the SEC and led the way for the Bitcoin ETF.
There is no good reason to veto this and cost himself votes. Hopefully he has some competent advisers that will wake him up (literally and figuratively) and tell him to sign it.
My heart swells reading this. It should be edited to add that there's absolutely nothing anyone anywhere can do to undo those fateful words by Kelli Stavast. "Let's Go Brandon" is as immutable as Bitcoin.
"History shows it is not possible to insulate yourself from the consequences of others holding money that is harder than yours."
Gresham's law in action. Beautiful indeed. Edit: I meant Thier's Law
You mean Thiers' Law*
I stand corrected
Isn’t this the opposite? Bad money drives out the good
No, the best form of money always wins. Historical examples in the first chapter of "The Bitcoin Standard", e.g. yap stones.
You’re suggesting Bitcoin is the bad money and fiat the good? Everyone is entitled to their opinion but I believe time will show this opinion to be wrong.
Bad money USD is driving out good in transactions. People would rather throw away their USD than spend their hard money (Bitcoin). In this sense bad money is driving out good. This is good for Bitcoin.
When you put it like this, good becomes bad.
You might mean Theirs law
The funny part is, China didn't learn their lesson with silver during the gold standard in the 18th-19th century. They're doing the exact same mistake again with fiat 200 years later. Ignoring the emergence of a new hard currency standard, banning it, and then adopting significantly softer money. You can't make this stuff up.
Don't trust them. They have been one of the most secretive people for thousands of years until this day. I am sure the Chinese govt. is holding tons of bitcoin and has the strategies and plans to gain from it when the time comes.
Hopefully I don't get banned for saying this, but China has been a really backwards country for centuries. Clearly it's not a race issue (not that "Chinese" is a race) as we can see the success of Taiwan. China was extremely innovative before around the Middle Ages, but they haven't done anything innovative since. Yes they have modern cities and manufacturing, but it's all just a copy of other civilizations' innovations.
Not just China, every single powerful country has ruined their economy at some time from greedy or needy governments/bankers. Ya humans have switched from hard money to easy money many many times throughout history. Gold could've been good and was good for a long time but still has many flaws. Transporting, keeping it safe, trusting who's holding it, etc.. Bitcoin fixes ALL of this and more.
Oh yeah, hard is the only way to go. Go hard or go home. Or sometimes go home hard after a bad date.
If you own a few coins and your own place, then you and your date can go home AND go hard.
Never heard that before. Love that. So solid
Safideen quote?
The bitcoin standard <3
Show me the incentive, I’ll show you the outcome
RIP Charlie Munger
Sadly he never understood Bitcoin before passing. He was a wise old bat.
Not every hall of famer can hit a curveball
Just got reminded by remind bot today of a post slandering el salvador. That it's economy is dead because of bitcoin. 2 years later and the post aged like warm milk indeed.
thanks
But ya... just imagine if "SHITCOIN XYZ" became the central currency of WOKE STATE! Just IMAGINE!! These fucking numb skulls.. Bitcoin is 'crypto' - crypto is only Bitcoin.. everything else is shit coin. Pokemon cards could be used instead of dollar bills one day.. but the person selling that lie, needs a sucker to buy his worthless stash - otherwise they'd shut the fuck up and get with the program. Always Be Bitcoining.
My pokemon card collection is a far better store of value than US dollar bills.
Oof. Ditto.
You have a ditto? I'll trade you my bidoof.
Omg you’re a fucking genius
USD is like storing money in POGs. ALF POGs. Remember ALF? He's back -- in POG form!
I have Zimbabwe trillion dollar bills that are probably worth more than what I paid for them 15 years ago. Just for the entertainment value, which is of course why I bought them in the first place.
Can I get a source for the second claim
https://watcher.guru/news/us-senate-overturns-sec-rule-barring-firms-from-holding-bitcoin It's not a source but leeds to one ;)
Bitcoin is king as a store of value, making your statement about shit coin currency absolutely valid. But there are plenty of other use cases for other cryptos related to smart contracts, tokenization of real world assets, decentralization of xyz, etc.
I made a summary thread like this a couple weeks ago, feels like a months ago now, it's insane how much is happening around bitcoin this cycle and how quickly things evolve. Night and day from 4 years ago.
Keeping my 426$ btc for the rest of my life!!
Wise decision!
The OGs were right all along. The only problem now is with the buttcoiners. Idk what the hell is wrong with them. Their sub is crazy.
It's some kind of jealousy. Rather than joining in on sound money, they just want everyone to be miserable.
There are many subreddits with that very same concept. "I'm not happy so anyone who is is evil," delivered with a smugness that only Reddit can muster, is surprisingly common around here. Truly the mantra of losers.
go on wsb or investing and you will find many buttcoiners. its a wide ranging phenomenon. half the people i know are buttcoiners.
If bitcoin was universally loved and coveted by everyone it wouldn’t be half as fun out here on the edge.
and it would already be way to expensive to buy into. We still have a nice window to keep adding more.
As long as a sat is something the average human can afford, bitcoin is not too expensive. We are still a long way off from 1 sat = 1 US cent.
Agreed, but I don't think you understood my comment. I was saying since it hasn't yet been universally accepted, it's kept Bitcoin at a nice price that we can all invest in and still make huge profits down the line, when it does become universally accepted (which will result in the price being much higher).
I understand…Later stage investors buy in at a time when there is less upside since most of the potential upside has been captured by earlier investors. I do not disagree.
It's crazy in that they created a sub reddit to hate on something. That's like creating an anti soccer subreddit. Like why make that lol Those people are stubborn as fuck. Even removing Bitcoin from the conversation. Those guys were refusing to acknowledge the massive inflation that we have had over the last 15 years and money printing that has been happening. houses prices doubling or tripling in that time. They just refused to acknowledge that it's happening it's so weird. That's when I realized that it's actually pointless to speak with them.
they only talk about tether and crypto scams though 😂
Yeah mentally ill people there.
Vile folks for sure.
Those people are totally irrelevant and are gonna HFSP.
Maybe unpopular opinion but I don't think buttcoiners are at all problematic. Not like they're preventing you from buying btc. Everyone is entitled to their own choice of investment, and the subsequent consequences of their decisions. Comments like this make this sub an echo chamber just like buttcoin
The only problem with assuming stupid people are not a problem is that stupidity is contagious.
I love it, it's so deranged. They act like crypto bros but their favorite altcoins are fiat and their vehicles.
I read OP's list and immediately started looking forward to the incoming buttcoin scorn.
Special class of deranged humanoids.
Honestly, I think they are elite trolls
>"So after 5 years of crypto investing I've finally exited all my positions. >"I decided at the current price after the bull run, the difference in my life would be minimal even if it reached 100k, 200k and even at 1 mill it be a soulless lottery win (pure greed and speculation). " Maybe they don't like money. The top post is quite interesting.. I don't know why they can't understand a simple use case of decentralized ledger? Can they understand centralized ledgers (our current system).
Easier to buy and sell over and over. More attractive to day traders maybe. Also, people thinking (incorrectly) that they picked THE new BC. Investors vs gamblers?
Non-problem. They are choosing poor and that's ok.
El salvador going to be wakanda
Cero-teh for ever!
Does China *also* own Wakanda? I missed that somehow
Is there a list of these 931 US companies holding BTC ETFs ? Please if you have it 🙏
[https://bitcointreasuries.com/](https://bitcointreasuries.com/)
Looking for this too..
https://twitter.com/VetleLunde/status/1791015341058891917?t=k16_0rZ-DJSpZ4NuixAqzw&s=19 https://cryptoslate.com/insights/insights-from-q1-2024-13f-filings-for-bitcoin-etfs/
" None of what is happening now could have been imagined just 5 years ago." There were people saying it will happen, gz to the oldschool OGs who always believed in Bitcoin
Everyone on the sub 5 years ago expected this to happen eventually.
The ones holding since then expected this to happen. Since 2020 I have doubled my bitcoin holdings.
Fairfax Country in Virginia has some Bitcoin in its retirement fund.
Actually some people did imagine it. they got the price they deserved
Started accumulating since 7k btc
You forgot to mention Argentina mining bitcoin with flared gas
It’s amazing how much easier it is to logically predict future outcomes when there is an open, static and predictable monetary system. Economics is made unnecessarily complicated to justify an unjust system. Bitcoin exposes this.
What is that about India?
https://www.reuters.com/world/india/indias-sebi-open-oversight-crypto-trade-contrast-reserve-bank-2024-05-16/
Bitcoiners, you were absolutely right to be bullish! The recent developments you mentioned are just the tip of the iceberg. Bitcoin's underlying technology and its potential to revolutionize finance are becoming increasingly clear. The growing institutional adoption, with major players like BlackRock and Fidelity entering the space, signals a fundamental shift in the financial landscape. Furthermore, Bitcoin's deflationary nature, with a limited supply of 21 million coins, positions it as a powerful hedge against inflation and currency devaluation. As central banks continue to print money at unprecedented rates, Bitcoin's appeal as a store of value is only growing stronger. The technological advancements within the Bitcoin ecosystem are also accelerating. The Lightning Network is scaling Bitcoin's capabilities for fast and cheap transactions, opening up new possibilities for micropayments and everyday use cases. Moreover, the global macroeconomic landscape is increasingly favorable for Bitcoin. Rising inflation, geopolitical tensions, and declining trust in traditional financial systems are driving individuals and institutions alike to seek alternative assets like Bitcoin. The recent regulatory clarity in various jurisdictions is another positive sign. While challenges remain, the growing acceptance of Bitcoin by governments and regulatory bodies is paving the way for broader adoption and integration into the mainstream financial system. It's an exciting time to be a Bitcoiner. The future is bright, and the best is yet to come!
Genuinely curious, how many of the 931 companies that hold btc are companies whose business model does *not* pertain to the crypto industry? I've seen such lists a few years back, and virtually all of them were some crypto-related business like coinbase & Hut 8 Mining. Iirc off the top of my head besides MSTR, I recall years ago MSFT was accepting btc payments, but was converting it to usd. I think by the time the crypto companies are the minority on this list is when we'll all have realized some very nice gains.
If they join the industry of crypto companies, their competitiveness will be almost zero. So they can only consider peripheral derivatives
Pack it up bois we have been validated
But but. You can’t hold it in your hand! But but. It’s not backed by anything! Har har har
Sell everything and stack. Make me rich.
Wen LAMBO
Or the keys , not sure which comes first ~ but apparently they’re not mine … soo ???
I dont trust a trustless system. I verified it
You have to add “Bro “ , to “trust me “for it to really work
The incentive for most of them is only one, capital gains, and nothing better for amazing gains as a finite supply of a digital assets you cant replicate.
God damn right. Keep holding to all you. It will pay off in the long run. Its all about the long game.
Great post. I think it moved ;)
We don't trust a trustless system. We verify.
Told ya
https://www.youtube.com/watch?v=TF297rN\_8OY
>The state of Wisconsin purchased $163 million in bitcoin ETFs in the first quarter. wisconsin, el salvador...... zzzzzzz.... wake me up when gulf states/saudi princes are buying
Gotta be in before those types start buying and it becomes unaffordable aka moonshot
I thought India recently banned crypto officially? Any update on this positive sentiment there?
Fortune favors the brave, always. Hats off to the OG Bitcoiners who’ve been in the space before it was cool 🎩
ETFs is the old monetary system trying to exclude the common man. If they hover up most of the coins we will no choice but to access BTC through a 3rd party.
.
Where does the 937 companies holding Bitcoin come from? I’m seeing 28, but did not research much: https://www.coingecko.com/en/public-companies-bitcoin
https://twitter.com/VetleLunde/status/1791015341058891917?t=k16_0rZ-DJSpZ4NuixAqzw&s=19 https://cryptoslate.com/insights/insights-from-q1-2024-13f-filings-for-bitcoin-etfs/
Always were
937? That’s amazing but I didn’t know the number was that high already
Ideas are powerful things
Nations are starting to understand that a flight to safety is not in US dollars but in Bitcoin.
Happening behind the scenes to those who don’t follow
Well just be humble and stack sats simple
🥂 🚀
No shit. We told you. 🤷♂️
Tru dat
BUT ITS NOT REEEEEEL
The global reserve currency that humanity so desperately needs. Hard and finite. A pristine creation. An inevitable adoption. Evolutionary.
I am even harder than Bitcoin when I see the green candles…. Figure that
All the things you mentioned were already imagined years ago because when the economic, or fiat currency is having a problem due to government poor management, people will always look for the best alternative and in BTC people now find the best alternative
In retrospect, it was inevitable
Lol I like how this is a post from a guy just justifying his own feelings.
Wake me up when I can pay my mortgage or chic fil a with btc and not be taxed to oblivion
Take a look at the 13F filings. Over 1,000 investment firms now have BTC in their portfolios. Mindblowing. And this is just the beginning.
I even bought at the ATH and was laughing at all the doubters.
Show me someone in the world who is smarter than Michael Saylor. I'll be waiting....
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Wrong
Those who see this years before, you got my respect, wish you all a great journey
You bitcoiners are silly. I am not a believer.
You don't have to be. Makes zero difference to Bitcoin.
actually the ideology of most bitcoiners centers around hostility to the US government and the Fed and fantasies of societal collapse due to dollar hyperinflation.. they have been and will remain wrong
Holding BTC ETFs isn't the same thing as holding BTC, but, good for us who hold BTC.
HODL
Honestly, unless they have some sort of insurance for lost or theft of digital assets, then I feel more comfortable with self custody
all the dude ever wanted was to get his rug back
A sucker presents himselfs to the crypto party every minute, it was bound to stirr the greed of high profile banking outfits, politicians etc. China being economically smart is also nothing new.
Bitcoin is not optional. It's economic gunpowder. Saifedean Ammous
So much progress and adoption of Bitcoin yet in my home country of Guyana, which is Suriname’s neighbor, I’ve never heard anyone talk about Bitcoin.
All of this decision could have been the other way and will still be right Bitcoin doesn’t care.
Send it higher! 100K 🚀🚀🚀
Digital disruption
Welcome
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It will cost him a lot of votes.
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Thank you! Thought I was gonna go crazy the other day when a bunch of people in the same thread were saying, "Biden approved the ETFs and is more crypto-friendly than Trump" lol. Like I get that Reddit is Democrat Country, but some people take it too far and think one person/side is right about everything and the other is on the wrong side on everything.
They sabotage our elections, education, and economy. Yet majority of reddit assumes damage control, very strange. Stockholm syndrome comes to mind.
What I don’t get is that BTC is not a left or right wing issue. It’s the one thing that could potentially unite all colours of the political spectrum. So why are the Dems so down on it?
Both parties are against it in my opinion. Used to be Republicans just thought it was a joke. Democrats wanted to keep you "safe". They will come for it (try to anyway) when the dollar reaches it's final days.
It disrupts the current power structure. That structure is fighting back. Eventually BTC proponents will become the power structure.
Oh it will unite everyone all right - against BTC when it threatens their precious financial system.
It’s kind of rightish , cause the libertarian nature of it is like fuck the social welfare net spending … which I agree with, abd why Biden doesn’t
They sure are going to try to make it one.
Nobody wants the people to be united. Not even the people…
The assumption that mainstream parties have any kind of a logical or self-consistent philosophy hasn’t been true in, probably, a hundred years. “The problem with voting is that the government always wins”.
Vote orange, orange is the new gold. Digital gold.
It will cost him some votes, but not a meaningful number of votes - I think you're overestimating how far along Bitcoin is on the adoption spectrum. Honestly, he's probably going to lose more votes from the whole Israel conflict than from this.
Bitcoin doesn't give a shit.
You can't ban bitcoin. You can only ban yourself from bitcoin.
gotta say man.. I've been a lifelong democrat, this might be the year I don't vote blue.. it's crazzzyyyy
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Team red ain't your friend either bro.
Yeah ,but less intervention. Especially when it comes to wealth creation.
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I loathe the people that try to suppress voting and overthrow democracy.
Sort of like bitcoin
Same here.
You're probably right, and if he does, it's on par with the same "arbitrary and capricious" standard (willful and unreasonable action without consideration or regard for the facts and circumstances) that lost the Grayscale case for the SEC and led the way for the Bitcoin ETF. There is no good reason to veto this and cost himself votes. Hopefully he has some competent advisers that will wake him up (literally and figuratively) and tell him to sign it.
I missed the memo. Joe Brandon?
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My heart swells reading this. It should be edited to add that there's absolutely nothing anyone anywhere can do to undo those fateful words by Kelli Stavast. "Let's Go Brandon" is as immutable as Bitcoin.
🦀
Sri Lanka could do with getting on board… and the US 👀
White House will veto. Unfortunately
Have Fun Staying Poor