Discover and read the best of Twitter Threads about #Bitcoin

Most recents (24)

No big deal. Here is bitcoin breaking out... #Bitcoin $BTC
And here it is on a log scale... this is the biggest chart pattern break out thus far...
And Ethereum looks like it has based and is breaking out... #Ether
Read 7 tweets
I took the time to read Paul Tudor Jones (PTJ) May letter for his investors, and did a bullet point summary.

He mentions #bitcoin several times. It got me interested in learning his thoughts.

Hope you enjoy the read.
Thread 👇
"A large demand shortfall will prevent goods and services inflation from rising in the short term."

This means that although we've had a big inflow of cash into the economy, it does not directly mean there will be inflation in goods and services, caused by lack of demand. 1/n
"Traditional hedges like gold have done well, and is expected that investors will continue seeking them"

Since all Central Banks around the world have been pumping money into the economy, market participants still see gold has a hedge against future inflation. 2/n
Read 28 tweets
My last post.. STAY BULL!

The truth is in the details.. 👈

The secret of numbers #Bitcoin   

Thread 1/7
False bottom -60%

2/7
29 bars -85%

882 days...

3/7
Read 7 tweets
#Bitcoin came out as a complex magic-internet-money💰.

Luckily, some people simplified it for the world.

@stephanlivera
@aantonop
@TraceMayer
@PeterMcCormack
@saifedean
@NickSzabo4
@100trillionUSD
@APompliano
@Travis_Kling

Thread of 👆BEST podcasts 🔥🔥🔥👇
1.) When it comes to an Intro to Cryptocurrency,

nothing comes closer to conversation @NickSzabo4 with @naval on @tferriss.

"Trusted third parties are security loop holes"

The Quiet Master of Cryptocurrency — Nick Szabo (#244) tim.blog/2017/06/04/nic…
2.) @aantonop talks about "Why we need Bitcoin" as Part 1 to "The beginner's guide to #Bitcoin" with @PeterMcCormack.

Anything from Andreas is a must-listen content.

Read 12 tweets
@CustCarptry I don't see the causation as a political play. This is coincidental fuckery that has built an excellent framework for the subsequent political plays that will be formed on top of it. Not everything begins as conspiracy, but conspiracy begins from everything.
@CustCarptry Is there manipulation? Of course. 1000 fold, from both sides. (Again with the sides bullshit *fuck political parties*).

We will see many precedents set this year, many of which could set a bad course for the future of the country if we are not careful.
@CustCarptry This is a time when we must step back and look at the bigger picture. If we each stay in our lane with our head down and a closed mind,no matter how hard we fight, we will ALL FAIL. We have to unite. If we don't, destruction, lies, and chaos wins.
Read 8 tweets
1/9 Thread - Trading Alpha lies in areas neglected by people, this is probably why I don't use TA (because if everyone's doing it). While I post some of my thoughts and trades but I rarely give a 'satisfactory' answer on HOW I arrived at those calls, so here goes for a past trade
2/9 'The Big Straddle', Pre-Mar 13 trade
PnL of this Put trade was only around 40-50 #BTC because part of the trade was a hedge and we lost the premium on the calls we bought, breakdown:

1) Short 65 x 10K Puts Jun 2020
2) Long 100 x 8K Calls Apr 2020

3/9 Rationale for 'The Big Straddle'

Credit Bubble

Genesis issued 1.1 Bn in loans in 2019 with 500 Mil outstanding. (screenshot taken from Genesis's website)

Our estimates are that there are around 4-5Bn loan outstanding in the entire market. (BlockFi, Celsius, Babel etc)
Read 9 tweets
A THREAD on summary of actionable ideas on reading, writing, thinking, learning, focus, creativity, freedom++ shared by Orange Book (@orangebook_):

1/

The deeper you dive into your own mind, the clearer you will understand the minds of others.

The source code is the same.
2/

History was not supposed to be boring.

Mathematics was not supposed to be stressful.

Philosophy was not supposed to be detached from reality.

Forget about any bad impression left by school.

Start over at any age.

Learning isn't a competition.
3/

A life-changing habit:

every time you have a spontaneous question, and you can't answer by yourself, google and learn about it immediately. 

Never ask a question you could have googled.
Read 40 tweets
A thread:

Non-monetary inputs are an important indicator of actual usage on a blockchain. #Litecoin's NMO% is 2% or lower. Many times 0%.

This chart below shows #LTC is 99% used for monetary trx's.

Others use it for sending weather, info, etc.
Know what you are investing in.
Over the past 24 hrs, there were 30,559 #Litecoin trx's worth $83,876,422. With a median trx value of $58.93 & median trx cost of $0.00081.

The last 24 hr non-monetary output % was 1%.

That means 99% of all #LTC trx's involve actual monetary trx's between wallets. Continued...
#Bitcoin has a NMO% of <2% over the past month as seen below.

This also shows that #BTC is sent for mainly monetary purposes. Just like #LTC.

#BSV consistently has a NMO% of 25-50% which means almost 1/2 of what is sent on the BSV blockchain is not worth anything. Continued...
Read 10 tweets
Today, we’re extremely excited to announce @BtcpayServer as the second recipient of the OKCoin Developer Grant with $100k USD in funding. Read the full story on our blog: bit.ly/2X74KIS #bitcoin $BTC
To expand some, open-source development is the heart of our industry. We at OKCoin not only recognize this, but are passionate about it, and have made supporting developers key to our mission of making it easy and safe to buy and sell crypto using local currencies globally...
So what is @BtcpayServer? It’s a self-hosted, open-source #cryptocurrency payment processor enabling cross-border #Bitcoin e-commerce 💪. OK, that’s a mouthful 🤓. But read the post where we go into it in more detail…
Read 9 tweets
When fiat currency dies, conditions tend toward deflation first (since money becomes more valuable when uncertainty looms), before becoming increasingly inflationary and, finally, hyperinflationary. #Bitcoin was purpose-built for this.

A thread on my current macro view on USD:
Economic uncertainty is extremely high. Market participants are stashing dollars to self-insure against this uncertainty. Consumers are delaying discretionary and major purchases.
This behavior further constricts economic activity in a consumer-driven society, leading to more economic fallout, more uncertainty, and so on recursively. Policy responses are increasingly uncertain (so much so that the charts are broken temporarily):
Read 28 tweets
THREAD - Just used an @OPENDIME for the first time

#btc #bitcoin
From pictures I saw online of them the end looked smaller than a normal USB drive so I thought I needed a second special device to use one

Not true, works in normal USB slot on normal computer
Open this by clicking on it just like a regular USB drive
Read 18 tweets
Opinion: like most waves in tech, developers and technologists were first to harness the innovation of crypto tokens & markets to drive the development of community owned products at scale.

This idea is at the core of the success of #Bitcoin & Ethereum, but it doesn't end there.
Ever since @UniswapProtocol tokenized $SOCKS (unisocks.exchange) I've been excited about the potential to democratize financial inclusion while also to supporting creators, founders, their projects and ideas.
Thats why its exciting to see @withFND launch today—a platform for creators to mint tokens that represent a piece of their work.

withfoundation.com
Read 5 tweets
New model: #Bitcoin block space price ($USD/vByte) as a function of $USD denominated on-chain transaction volume.

There is a nice positive relationship showing that block space price increases when demand for on-chain transactions increases. This is encouraging.
The current block space market has well-known inefficiencies (mostly participants who don't optimize transactions for low fees) which I think are reflected in this model, as the R-sq tells us that transaction demand only explains about half the block space price variation.
One sign that a robust block space market is developing could be an improvement in R-sq over time. This can tell us that transaction demand is increasingly responsible for changes in block space price.
Read 4 tweets
Vous voulez savoir pourquoi l'application #StopCovid ne sert à rien, est dangereuse, une perte de temps et un gaspillage d'argent public ?

Petit thread #StopStopCovid
Passons rapidement que quand bien même elle respecterait toutes les garanties de vie privée (ce qui n'est pas le cas), l'application est inutile tant que la quasi totalité des français ne l'a pas installée. A moins de la rendre obligatoire donc...
En outre il faudrait pour être efficace que le moindre contact soit répertorié (le virus n'attend pas 15 minutes pour se transmettre). L'unique raison pour laquelle il y a cette tempo de 15 min est que votre batterie de téléphone serait complètement vidée en qqs heures
Read 17 tweets
The Dollar Standard:

The US Economy fell from 40% of World GDP in 1960 to just 25% today.

However, 79.5% of all world trade is conducted in US dollars.

84% of all non-domestic debt globally is US Dollar debt.

Around $100trn of global debts are denominated in US Dollars.
Total US domestic non-financial debts are $80 trn (and rising fast).

The Fed balance sheet is currently $7 trn.

If this recession is morphing into a global solvency event (which by definition is a slow miserable grind, not a shock and awe event, which is a liquidity event),
then the current strategy of the Fed trying to stave off debt impairment is near impossible but they will try and haha, the money printer will go Brrr...

But the dollar will continue to rise as demand for dollars rises.
Read 10 tweets
On May 10, Coin Metrics’ internal systems fired off an alert that an abnormally large deposit took place on @Gemini. An hour later, markets fell almost 16%

Below we investigate the insights that holistic data strategy could provide during such an event
medium.com/@coinmetrics/m…
2/ An hour after 2,500BTC was deposit onto @Gemini, CM noticed more abnormal activity on Gemini, this time in the form of an unusually large 50 $BTC trade. This potentially triggers a few significant market sells on Bitfinex and @coinbase Coinbase in the following seconds.
3/ In the following 5 minutes, there is a significant increase in trade volume across all exchanges, resulting in #Bitcoin's price dropping $800 over the period
Read 6 tweets
As if #bitcoin didn't have so much else going for it right now, the absolute fucking *intrigue* of the living history of it is insane.
Read 4 tweets
Attention HR and Recruiting Professionals!!

Having a hard time attracting and recruiting the best and brightest talent to your organization?

Looking for the most unique benefit any human resources department can offer?

1/
One that will also retain your A-Players: critical personnel with that low time preference which truly sets them apart from the rest?

How about all this for no more work on your part?

It's time you considered Swan Bitcoin!

2/
Swan is simply the most frictionless way for your employees to accumulate Bitcoin.

Let employees automatically get some of their paycheck PAID IN #BITCOIN!

Some may even value it more than any other benefit your firm offers.

3/
Read 5 tweets
I've been meaning to write some thoughts about @GrayscaleInvest $GBTC for a while.

Buying $GBTC vs #Bitcoin is not an obvious decision. It depends a lot on your tax situation + familiarity with tech.

This is not tax or financial advice. But a few thoughts below.
$GBTC:
- 2% annual fee (argh!)
- 18% premium to BTC
- If placed in IRA, accrues Tax Free
- Not your keys, Fraud risk
- Commission Free on many platforms
- Easy execution
#BTC:
- No annual fee
- No premium
- Potential for capital gains tax (assume 15% for now)
- Your keys (Big one)
- Exchange commissions + bid/ask spread - between 1% and 3% (avg)
Read 8 tweets
1) The state of #Bitcoin: May 10th BTC corrected ~20% & caught support at its 200 DMA. $10,000 is being tested again. Each retest eats away at Overhead Supply. What we are witnessing is BTC Technicals trying to prove itself as demand over powers sellers attempting to keep it down
2) Many havnt noticed yet but 30%+ of the mining network has shut off Post Halving. New BTC is getting allocated to more efficient miners who can hold - a far more fertile environment for BTC to rally when solely analyzing the Supply Side.

What's to come for Miners & Difficulty?
3) It is critical to understand how Difficulty is calculated & how projections from these Difficulty Calculators are determined. Difficulty adjustments are determined by time required to mine the previous 2016 blocks. These calculators are lagging indicators of future Difficulty.
Read 14 tweets
THREAD

Paul Tudor Jones #Bitcoin thesis:

scribd.com/document/46038…
1/ The Great Monetary Inflation

Just since February, a global total of $3.9 trillion (6.6% of global GDP) has been magically created through quantitative easing.

An unprecedented expansion of every form of money unlike anything the developed world has ever seen.
2/ Debt Addiction

The Congressional Budget Office projects the US debt ratio to reach a new historic high next year, above the World War II peak.

Corporate debt is also rising briskly to record levels as firms draw down revolving credit lines to fund cash flow shortfalls.
Read 7 tweets
0/ Our team @Delphi_Digital put out a State of #Bitcoin 2020 report earlier this week to commemorate the halving.

There was a bit of analysis we had to leave out to get it out on time. After looking in further, the takeaways were too bullish not to share. Let's dive in:
1/ Below is a visual breakout of % of supply held by wallet size. Early distribution is a bit chaotic bc of low price & high issuance. Things start to normalize around 2013, with the growth of supply in smaller wallets continuing until today (bottom of chart)
2/ Tabular view of prev chart. % held in wallets w/ less than 10 $BTC has grown from 6.1% in Jan ‘15 to 14.3% today. Supply held by small holders is actually understated bc so much is held on exchanges. Other notable trend was growth in supply held in wallets sized 1k to 10k $BTC
Read 17 tweets

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