Discover and read the best of Twitter Threads about #BitSignal
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Joining a web3 community may lead to unexpectedly amazing outcomes!
2+ years, 10+ projects, 100+ members, and $100k+ in earnings - this all started with @0xBhaisaab's idea of making "a closed community for the makers and developers."
Curious about the web3 projects born here?
2+ years, 10+ projects, 100+ members, and $100k+ in earnings - this all started with @0xBhaisaab's idea of making "a closed community for the makers and developers."
Curious about the web3 projects born here?
Crypto Coffee
Starting out with @buycryptocoffee, a product that helps creators to monetize their creations without the red tape! A solid build by @akhil_bvs, @0xBhaisaab, @abhikumar_98, and @CreakFoder
Starting out with @buycryptocoffee, a product that helps creators to monetize their creations without the red tape! A solid build by @akhil_bvs, @0xBhaisaab, @abhikumar_98, and @CreakFoder
Daakiya
A wallet-to-wallet communication platform that happens to be end-to-end encrypted by @0xBhaisaab, @mryalamanchi, @abhikumar_98, and @PratyushRungta
A wallet-to-wallet communication platform that happens to be end-to-end encrypted by @0xBhaisaab, @mryalamanchi, @abhikumar_98, and @PratyushRungta
Are you as confused as I am about @balajis' million-dollar bet on hyperinflation & Bitcoin mooning? 🤔
He said hyperinflation is coming in the next 90 days & Bitcoin will hit $1M! Some say he's insane, but hey, that's why he's a millionaire!
Let's break it down 🧵
He said hyperinflation is coming in the next 90 days & Bitcoin will hit $1M! Some say he's insane, but hey, that's why he's a millionaire!
Let's break it down 🧵
2/ I attended a Twitter Space with @balajis & @gladstein and let me tell you, I've got some tea ☕ to spill about this situation.
3/ Thanks to the pandemic and US Government's stimulus, people & businesses had more cash than before. 💰
So instead of borrowing more, businesses and consumers were paying off old loans and holding onto their cash. And banks were left with...not much to do. 😬
So instead of borrowing more, businesses and consumers were paying off old loans and holding onto their cash. And banks were left with...not much to do. 😬
HYPERINFLATION
@balaji made a shocking bet that #bitcoin will go to $1M in 90 days. This is a bet that predicts US Dollar hyperinflation, a worldwide financial catastrophe.
Frankly, $1M per BTC sounds freaking crazy. But now we got your attention. #BitSignal
🧵
@balaji made a shocking bet that #bitcoin will go to $1M in 90 days. This is a bet that predicts US Dollar hyperinflation, a worldwide financial catastrophe.
Frankly, $1M per BTC sounds freaking crazy. But now we got your attention. #BitSignal
🧵
1/ What is hyperinflation?
Hyperinflation is rapidly rising inflation, usually by >50% per month.
The price hike will be rapid, excessive, and out of control.
It is an extreme case of inflation.
Hyperinflation is rapidly rising inflation, usually by >50% per month.
The price hike will be rapid, excessive, and out of control.
It is an extreme case of inflation.
2/ Rapid price hike in hyperinflation
We are already experiencing inflation. Now imagine an extremely-rapid version - hyperinflation.
If our money loses value rapidly, we will need more money to buy the same things.
Soon, people can't afford basic necessities.
We are already experiencing inflation. Now imagine an extremely-rapid version - hyperinflation.
If our money loses value rapidly, we will need more money to buy the same things.
Soon, people can't afford basic necessities.
Balaji is betting $1m that 1 BTC is > $1 million in less than 90 days
It's a $1m marketing stunt - everyone's talking about it, and he'll go on a huge media/podcast tour.
• Raises alarm for hyperinflation
• Makes $ back from price appreciation
• Eyeballs to his new podcast
It's a $1m marketing stunt - everyone's talking about it, and he'll go on a huge media/podcast tour.
• Raises alarm for hyperinflation
• Makes $ back from price appreciation
• Eyeballs to his new podcast
The media will love him.
He has the credibility of getting the COVID call right and is the former CTO of Coinbase.
No chance his prediction will come true. But my fucking god, we have someone insane enough to want to be this cycle's main character.
He has the credibility of getting the COVID call right and is the former CTO of Coinbase.
No chance his prediction will come true. But my fucking god, we have someone insane enough to want to be this cycle's main character.
I've seen some comments dismissing him as going crazy.
1 thing I've learned since the Pandemic is to be more open-minded.
The $1m bet is just the "hook" for us to think about what happens if the banks fail, and if hyperinflation happens.
1 thing I've learned since the Pandemic is to be more open-minded.
The $1m bet is just the "hook" for us to think about what happens if the banks fail, and if hyperinflation happens.
Remember what happend to Terra Luna last year?
@balajis just made a $1 million bet that the same thing is about to happen to the US Dollar.
@balajis just made a $1 million bet that the same thing is about to happen to the US Dollar.
Recap of Terra Luna Collapse:
1. UST was pegged to 1 USD
2. To keep the peg, Luna coins were issued or burned depending on supply and demand.
3. When times were good, it was easy to keep the peg. The demand for Luna was high, so no problem issuing more.
1. UST was pegged to 1 USD
2. To keep the peg, Luna coins were issued or burned depending on supply and demand.
3. When times were good, it was easy to keep the peg. The demand for Luna was high, so no problem issuing more.
4. But then the downturn came and the demand dropped and more and more Luna needed to be issued to keep the peg, lowering the price of Luna.
5. Until all confidence was lost and everything came crashing down in a deathspiral to zero.
5. Until all confidence was lost and everything came crashing down in a deathspiral to zero.
