Sep 8, 2021 Sign Up

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"Sometimes, getting up in the morning and brushing your teeth is the hardest part of the day - it all just hurts." – Tom Brady

Good morning! It's hard to believe but its midweek already. If you are invested in crypto, you've probably had a couple of sleepless nights this week. The price of bitcoin dropped more than 10% yesterday after breaking through $52k on Monday (highest level since May) as El Salvador officially adopts Bitcoin as legal tender.

If you still have not subscribed to Short Squeez yet, now is the time and this is the link. 

1. Story of the Day: Bezos Wants You to Cheat Death

Jeff Bezos since turning 50 has gotten a complete body makeover: from a skinny nerdy-looking guy to a jacked "Mr. Steal Your Girlfriend" with 13% body fat. His Instagram pictures will put many models to shame. Bezos wants to keep it that way and that's good news for all us. 

Jeff Bezos is among a group of investors backing a new anti-aging company, Altos Labs, which is working on biological reprogramming technology to essentially prolong human life. Altos was incorporated earlier this year in the United States and the United Kingdom and has plans to create institutes in California, Cambridge and Japan.

One of the investors includes Russian-born billionaire tech investor, Yuri Milner, who is worth about $4.8 billion. Altos is also reportedly seeking university scientists with deep pockets dedicated to researching how to reverse the process of aging cells.

This also isn't the first time the world's richest man has invested in this kind of research. The 57-year-old Bezos has invested in the startup company Unity Biotechnology. Unity, according to its website, is working to develop a "new class of therapeutics to slow, halt or reverse diseases of aging."

Short Squeez Takeaway: While Bezos has his critics for literally every move he makes, this one gets our full support. We could definitely use something more than our anti-aging cream (which never seems to work for us). 

Source: Fox Business

2. Markets Rundown

• US stocks closed mostly lower Tuesday, though the Nasdaq climbed to another all-time high, as investors returned from a three-day holiday weekend unsure about the toll the delta variant will take on the economic outlook.

Movers & Shakers

• (+) Match Group ($MTCH) +8% on announcement of joining S&P 500.
• (+) Netflix ($NFLX) +3% after Atlantic Equities hiked its price target on it to $780 from $690.
• (–) Coinbase ($COIN) -4% after Bitcoin plummeted 10% in one day.

3. Top Reads

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4. Book of the Day: The Bitcoin Standard: The Decentralized Alternative to Central Banking

While Bitcoin is a new invention of the digital age, the problem it's trying to solve is as old as human society itself: transferring value across time and space. The author (Ammous) takes the reader on an engaging journey through the history of technologies performing the functions of money, from primitive systems of trading limestones and seashells, to metals, coins, the gold standard, and modern government debt.

Exploring what gave these technologies their monetary role, and how most lost it, provides the reader with a good idea of what makes for sound money, and sets the stage for an economic discussion of its consequences for individual and societal future-orientation, capital accumulation, trade, peace, culture, and art. Compellingly, Ammous shows that it is no coincidence that the loftiest achievements of humanity have come in societies enjoying the benefits of sound monetary regimes, nor is it coincidental that monetary collapse has usually accompanied civilizational collapse.

Ammous’ firm grasp of the technological possibilities as well as the historical realities of monetary evolution provides for a fascinating exploration of the ramifications of voluntary free market money. As it challenges the most sacred of government monopolies, Bitcoin shifts the pendulum of sovereignty away from governments in favor of individuals, offering us the tantalizing possibility of a world where money is fully extricated from politics and unrestrained by borders.

5. Daily Visual: Quarter of All Species Threatened with Extinction
Share of plant/animal species at risk of extinction worldwide

Source: Statista

6.  Daily Acumen: Bitcoin 

There are currently 18,809,737.5 bitcoins in existence. This number changes about every 10 minutes when new blocks are mined. Right now, each new block adds 6.25 bitcoins into circulation.

The maximum and total amount of bitcoins that can ever exist is 21 million. There are 2,190,262 bitcoins left to be mined.

There's no exact answer as to how many bitcoins are lost. One recent estimate is that about 3-4 million bitcoins are lost forever. It is impossible to know an exact number since a lost Bitcoin looks exactly the same on the blockchain as one that is not lost. We can make some educated guesses based on how long a Bitcoin has sat in unmoved addresses.

On average, there are 144 blocks mined per day, and there are 6.25 bitcoins per block. 144 x 6.25 is 900, so that's the average amount of new bitcoins mined per day. The last bitcoin will be likely mined sometime in the year 2140 when the last Bitcoin halving is expected to occur.

7. Memes of the Day

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