Discover and read the best of Twitter Threads about #BitCoin

Most recents (24)

This book is so damn good.
I'm now re-reading it for the third time!
@NSKinsella has changed my fundamental economical and moral axiom, and he has started me down a new rabbit hole which culminates in my Bachelor's thesis.

THANK YOU, Stephan!

mises.org/library/agains…
Here my thesis on
non-simulated shared ownership of scarce #Bitcoin with multi signatues in the #lightningnetwork.

If you've read Stephan's book, then you understand the ground breaking innovation of multisig described in my title. :)

github.com/MaxHillebrand/…
Many say that #Bitcoin is scarce because there are only 21 million.
This is wrong.
The quantity of a good has nothing to do with the binary attribute of scarcity.

This is the perfect explanation of scarcity:
"The very possibility of conflict over a resource renders it scarce."
Read 9 tweets
Can someone who loves #LightningNetwork tell me why I can't use a network scanner, find a security hole, gain access to this IP, and re-route funds? If I can do enough recon on this IP, maybe get some keylogs or intercept your 2FA, a $184k payout seems worth the effort to me.
This is a sincere ask, because as a threat analyst, it seems to me that publicly advertising your IP and available funds held within a channel seems highly irresponsible. It doesn't matter how locked down your security may be, because if the NSA can be hacked, so can your LN node
Is there some technical magic that you all implement that keeps hypotheticals like this from happening? I have no idea, which is why I'm asking. #Bitcoin or #Lightning devs please feel free to shed light on this. I would greatly appreciate it.
Read 3 tweets
1/ Today's breakout in #bitcoin price feels to me to be very real. I used bitcoin futures data to come to my decision. Have a look.

(Thread)

#crypto #xbtusd #bitmex
2/ The following chart is the past 36 hours of a 1-minute snapshot of the price of BTC (.BXBT, Orange Line) and the delta (Blue Line) between it and the Bitcoin futures contract that expires on September 27 2019 (XBTU19). The right side shows a huge drop in the delta, but why?
3/ If we zoom in, we can see a huge swing in the delta from +13.19 to -31.68 in just 2 minutes. This was when BTC pumped to $5391.68, but the delta was quite negative, putting the futures in a state of backwardation.
Read 9 tweets
@PeterRizun I use the software my self. I run c-lighting and spark wallet. It is hard to believe that you couldn't send 0.00019 btc. I sent money to Venezuela the other day and more than you are trying to send. And I am just a noob and you are chief scientist of a pre mined scam.
@PeterRizun And my node is a very basic node that I use to follow the development of this project that is still in alpha stage.
I rather verify to trust to others where I put my money or investment,
@PeterRizun @PeterRizun
I already replied twice to your tweets but you keep deleting them, since you mess with twitter logins and used a sockpuppet account.

If you are trying to be serious on a subject behave accordingly.
Read 6 tweets
1/The power of the Federal Reserve is astounding yet confounding. Despite 100+ years of unprecedented, unfettered mandate it has failed over and over again. Let’s take a look at the 2008 crisis and why #bitcoin matters. ⤵️
2/During the crisis, the Fed’s balance sheet exploded. The Fed made large scale bank asset purchases (aka QE) and credited banks with reserves held at the Fed, injecting liquidity, easing lending.
3/On national television Fed Chairman Bernanke said balance sheet expansion was akin to “printing money.”

Read 16 tweets
0/ 🔹 Howdy all! Got a 17-part thread covering the past day's happenings from the crypto and blockchain space.

Hope you learn a thing or two!
1/ 🛰️ @notgrubles was been beamed an anonymous @Blockstream transmission with instructions and first clues - which include GPS coordinates - to a $1,000,000 #bitcoin [ $BTC ] treasure hunt dubbed Satoshi's Treasure. Super cool!
2/ 🚫 @Binance gave the people what they wanted, announcing the delisting of Bitcoin Cash fork Bitcoin Satoshi Vision [ $BSV ]. Hours later, @ShapeShift did the same, whilst @Blockchain discontinued support for BSV transactions. @OKEx bucked the trend; opting to keep BSV listed.
Read 18 tweets
Why target 0% inflation?
Nature approaches Ideals, but never quite reaches them.

The curve narrows towards the asymptope but never quite touches it.

If it does, it becomes tangential and the wave collapses. 1/
laetusinpraesens.org/docs80s/80vect…
Nash was looking to what he termed "Governing Dynamics". It is a process seen also in his "manifold of the torus" and how it can be emedded in multiple dimensions. The ultimate expression of equalibra in nature. 2/
cosmometry.net/the-torus---dy…
3/
Read 32 tweets
@nic__carter 1/ TOUR-DE-FORCE, *MUST READ* from @nic_carter. Well-researched & well-reasoned. I don't agree w/ all of it, but it's a timely call to arms to #bitcoin intermediaries to PROVE YOUR SOLVENCY cryptograhpically. Thanks for naming names, Nic. I wasn't aware that one exchange has...
@nic__carter @nic_carter 2/ ...routinely issued #ProofofSolvency reports (Coinfloor). Your point is well-taken that Coinfloor puts its better-capitalized competitors to shame--bc when an intermediary holds 100% reserves, that means it is SOLVENT & it doesn't really matter how well-capitalized it is. I'd
@nic__carter @nic_carter 3/ ...rather trade via a small but provably solvent counterparty than a big but insolvent one any day. @nic__carter's chart is worth studying in detail & it shows what everyone should realize--that we're in a debtor/creditor relationship with #crypto exchanges when they take...
Read 16 tweets
#bitcoin #LightningNetwork Multi-party channels (NOT channel factories) offers massive benefits over standard 2 party channels.
Fees to open are minimal.
Finding path becomes MUCH MUCH easier.
From a routing perspective, if you have 1 BTC in a MP-channel, it can be routed to
any other member of the MP channel. Paths becomes drastically shorter, and cheaper, while simultaneously increasing liquidity massively. It has a multiplicative factor on all liquidity.
Channel factories = BTC split amount x number of channels
MP-channel = a channel for the
full amount to every single other member. So, if I join a 1001 member MP channel with 1 bitcoin, it'll show up a 1,000 BTC of liquidity. The channel graph would show me having 1,000 channels with 1 BTC each, ready and willing. (PLUS the amount each other person has to me)
Read 23 tweets
This image should make it very intuitive/clear how fee estimation has a LOT of room for improvement in #bitcoin. Comparing the red circles, you can see that more recently, a lot of people are seriously overpaying for their transactions:
A couple of takeaways come to mind...
Firstly, remember this chart next time someone laments that "it costs [large amount] to transact in bitcoin right now - it's unacceptable!". What they are probably doing is cherry-picking a transaction that seriously overpaid.
Read 4 tweets
I have reached a whole new level of #PISSEDOFF.

I didnt think such a #dark and #scary state, or level, could be reached. It may top 12-14-17's causation. It's. That. Bad. So, I've prepared a statement...

docs.google.com/document/d/1_J…

#PascoSheriff #HaveYouAllNoShame @CigarCityBeer
Dear @FBI,
I must implore you ask your colleauges in @FBITampa to help research this new level of #PISSEDOFFNESS. As locals, they may offer a special indepth knowledge of this new level I have reached. This is not fair & law enforcement must #investigate. No one deserves this.
This is my #apogee of #Pissedoffness.
If #motherfuckers & #tears werent a noticable level.
If #HUSH or #INTIMIDATION tactics being deployed didnt strike a chord.
If #EVIDENCE, PROOF, or 30k Bonds didnt #WOW YOU.
If posting mom with no shred of investigatable value wasnt enough...
Read 115 tweets
Livetweet Thread to the #Boltathon. First up is @alexbosworth:
"In order for #LightningNetwork to succeed, a decentralized layer 1 is a must."
"Multiple member #LightningNetwork channels imply thousands of members per channel, tens of thousands of members per block, billions of members per week."
Next up is @bitconner on the architecture of lnd towers.

"It's one of the solutions to constantly having to be online. The design space in this area is massive. There are at least 10-12 dimensions of privacy to consider."
Read 26 tweets
1/ Given the governance battles we currently see everywhere, winning #cryptonetworks may emerge by merely persisting through "wars of attrition."
2/ If true, we currently focus too much on present-day dominance, underweighting a cryptonetwork's ability to deftly navigate the future.
3/ In the words of @Shaughnessy119, being able to deftly navigate the future allows a cryptonetwork's "tech to compound without fracturing."
Read 9 tweets
1/ The next bitcoin monetary supply halving in May ‘20 is coming at an important moment

The last 40 years of financial crises have occurred right after treasury curves become inverted & spread dips below zero

#Bitcoin was created shortly after the last time this happened

👇
2/ March 2019 marks the first time we have seen these spreads dip below zero since the birth of #bitcoin
3/ the yield curve is artificially inverted because of the Fed’s market-distorting quantitative easing program, a jump in Treasury bill issuance and low global interest rates have
Read 7 tweets
#Bitcoin

Thread pt 2

Highly unlikely for two seperate cycles to react the exact same way.

While a lot of comparisons could be made to the first green dot from my previous thread..

I had suggested that, cycle wise, the green dot could be moved further along.
As you can see, the circumstances have changed.

We have skipped the possible dip and look to be
at our next junction:

Upper half of the accumulation range.

Different path, same spot.
One thing I had noticed but hadn't suggested, was this:

Can we move the green dot over once more.

At the time the similarities in PA were too much to move it forward.

But circumstances have changed.
Read 9 tweets
@lrettig @iam_preethi Ethereum governance is very complex, I would like to contribute to the debate with the exploration of several lines of thought. Before talking about governance I propose that we investiguate the concept of Ethereum community.
@lrettig @iam_preethi Contrary to nick szabo I believe that the word “community” is not an abuse and we can learn a lot about the different group of peoples who seems to share common interest.
@lrettig @iam_preethi 1 based on their own perspective so many people draw conclusions on an outcome who might not being fully understood without more complementary insight. Before talking about governance one must understand the complexity of the #ethereum community and his ecosystem first.
Read 15 tweets
1/One area of the SEC's framework statement addresses assets that are intended to be #virtualcurrencies. This part of the "economic realities" section under the "expectation of return" prong suggests that an asset that "can immediately be used to make payments in a wide variety
2/of contexts, or acts as a substitute for real (or fiat) currency,” is less likely to satisfy the expectation of return prong. The Framework elaborates on the definition, "it is possible to pay for goods or services with the digital asset without first having to convert
it to another digital asset or real currency" and "the digital asset actually operates as a store of value that can be saved, retrieved, and exchanged for something of value at a later time." What kind of non fiat currency assets look and act like this?
Read 13 tweets
XRP THE STANDARD 😉 I'm of the opinion whales use XRP as a stepping stone when trading BTC.

Whats interesting is the correlation between the two:

#btc #btcusd $btc $btcusd
If we look at whats going on under the hood. W1 STOCH on all top caps including #bitcoin have maxed out. With the exception of XRP.

#btc #btcusd $btc $btcusd
Dial it down to D1 and we see a very similar setup on the RSI. All top caps maxed out (some have a bearish div) and XRP is sitting on the bottom again.

My take on this, longing XRP wouldn't be the worst idea if btc neccs.

#btc #btcusd $btc $btcusd
Read 4 tweets
I might not be making money yet myself, waiting for my #ALTs to moon, but at least I'm useful to someone(my best friend since Jr. High and college roomate).

$PINK $PIVX $ONG $MTL $LIFE (I'll mention the other good coins when I'm able to get in on them 😀). Must pump these first.
#bitcoin doing well since my "extremely bullish" proclamation to my friend about 25 minutes ago at the bottom of the most recent short-term dip.

Give the fuck up, bears! You're done for! #MuellerMayhem incoming!

#ExitAllAmericanMarkets
$DJI $NDX $SPX $DXY ---> #BTC $XAU
Read 3 tweets
1/22. In its latest #Bitcoin market cycle, which peaked in December 2017, many new entrants have been pummeled by its falling price. Many are asking: will it ever recover? Let's take a look at #Bitcoin in some varied contexts and explore...

Thread⬇️
2. So, #Bitcoin's price "collapsed" from ~$20K. This market cycle is actually ordinary. Hardwired to be perpetually caught up in lately, us humans are all subject to becoming caught up in both FOMO and FUD. We lived through a mania, and we are now living through a winter:
3. Speaking of winter, did you know that Amazon once crashed 94% beginning in November 1999 (from $85 to $5) and has grown by 32,697% since (to $1,640)?
Read 22 tweets
1/ CRYPTO
Definitely a positive development that #Bitcoin is now above its 200D mov. avg.
--Many consider P>200D as sign of $BTC in positive trend
--BTC acts significantly better P>200D, a win-ratio of 80% vs 36% when P<200D

source: data scientists @fundstrat_ken @AlexKernA
2/ Reminder that BTC generally generates all of its performance within 10D of any year.
--ex the top 10 days, BTC is down 25% annually since 2013
3/ For equities, ex-top 10 days, the S&P 500 only cedes 300bp per annum.
--the obvious conclusion is top 10 days way more influential for BTC than equities
--HODL the other 355 days?
Read 3 tweets
This is what #FOIA torture is like.

After 5 yrs IRS finally produced records responsive to my request. They sent me a CD with the files. But I cannot access them!

They said they are going to mail me a separate letter BY MAIL containing the password!!
The IRS #FOIA ransom letter containing the password to access my documents, which were .exe files, just arrived.
NEW: 5 years ago, I filed a #FOIA request with IRS for certain documents on #Bitcoin (see pic). IRS finally produced the records (969 pages)

Here they are for anyone who may be interested

To say this was a painstaking process would be an understatement

documentcloud.org/documents/5790…
Read 3 tweets
Just had a shocking encrypted email from an old friend that explains today’s #bitcoin P&D.

Basically, a group of people got access to a number of exchange SL and liquidation orders.

They used this information colluding to drive the price down causing a cascade of liquidations..
and SL orders.

They shorted, dumped at market and triggered the orders. When the cascade begun they covered the shorts and bought back even more.

They then pumped the market and liquidated all the shorts, this time holding the perfect long entry for the coming pumps...
This is why you see the unexplained unnatural dump and then the huge pump.

These people profited over $7.2M on the entire move.

Usually, I wouldn’t share this kind of information but I feel it’s the right thing to do...
Read 6 tweets
One of my favorite interviews I've done over the years in #crypto. A balanced & calm conversation between a #bitcoin minimalist and a crypto VC. whatbitcoindid.com/podcast/chris-… 🙏 @PeterMcCormack
A few too-long-didn't-listen takeaways: many #cryptoassets are shaping up as supply-side focused instruments that'll accrue value for providing suppliers access to "value-flows," similar to how a stock provides access to "cash-flows." Demand-side may not need native token at all.
Such #cryptoassets are more a replacement for equities, than for currencies, and majority of value will be projected via "discounted-value-flow" (DVF) models.

For those that have a demand-side component, there is likely to be an MV = PQ sleeve, requiring sum-of-the parts models
Read 24 tweets

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