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Discover and read the best of Twitter Threads about #Bitcoin

Most recents (24)
1/ The thing I find interesting about this interview with Lasry, a billionaire with 1% of his assets in #Bitcoin, is that:

- He bought his first BTC years ago
- The majority of his holdings are from recent purchases.

cnbc.com/video/2018/07/…
2/ This is an example of what I've described as being "mentally captured"

3/ I know several instances of people who bought small amounts of BTC and as its price rose their confidence in its staying power increased commensurately. Eventually they were confident enough to allocate meaningful capital to it.

This is the Lindy effect in action
Read 5 tweets
For those who are unaware, Congress meets today to discuss the future of #cryptocurrency via the House Committee on Financial Services-
It shows again that this Administration is ahead of the curve when it comes to #crypto, despite propaganda suggesting otherwise.
#BePART $PART
When President Trump decided to replace Janet Yellen with Jerome Powell was the first step in the right direction.

The Federal Reserve has worked against this President at every turn, and the privately-owned Rothschild-backed system enslaves each and every American before birth.
Read 23 tweets
1.Since 2005 #Russian Oligarchs have syphoned $335 Billion stolen money out of #Russia Putin himself is worth $200 Billion, and they are doing it using #Bitcoin, because its fast and effective, they use parts of it to interfere in elections.

#Trump #Putin #Bitcoin #Treason
2. One of the "henchmen" used by #Russia was Alexander Vinnick, who was arrested by @FBI laundering $4 Billion in dirty money through #Bitcoin.

#Trump #Putin #Bitcoin #Treason

businessinsider.com/us-indicts-ale…
Read 13 tweets
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#Bitcoin $BTC

I want to go ahead and talk about logic for this rally.

1. In a bear market, any pump would be to dump harder, which has been the case throughout this past year. All of the past rallies were achieved via Bart patterns, signally a lack of real buying volume.
However, we can clearly see that this most recent rally was achieved via pump + organic buying volume. We had consolidation instead of retrace throughout the rally, price moves that mirror moves of 2017.

So why are volumes coming back?
Without change in fundamentals, any serious pump would be to liberate trapped higher-up positions and a colossal waste of money for the bulls. Bulls won't be stupid enough to blast through many critical resistances allowing higher-up positions to exit.
Read 4 tweets
Just finished reading the "The Bitcoin Standard".
Thank you @saifedean for such a wonderful book! ⚡️

Here are some of the passages I highlighted whilst going through it:

#bitcoin
1/ "...a slow drain of its monetary value over time will slowly transfer the wealth of its holders to those who can produce the medium at a low cost". (on trade / aggry beads and early European exploitation of African resources)
2/ "With money so unreliable and debased, speculation in commodities became far more attractive than producing them". (on the collapse of Rome)
Read 14 tweets
1/ On 2017-10-03 the SEC rejected the Winklevoss #bitcoin ETF seconds before 16:03 EST. In the following 3 minutes $BTC dropped 22% (Coinbase).
2/ From then on price started to progressively recover. This happened in a bull market. I'd not expect such recovery if the SEC rejects the CBOE ETF. On the other hand, if the ETF is approved, I'd expect strong and uninterrupted continuation.
3/ The fastest way to learn about such news is having a Bloomberg terminal. For those without one, Twitter is great, as some people with BBG terminals have bots tweeting breaking news, or tweet manually,
Read 9 tweets
I think there's an interesting dynamic between VC's/Funds and Bitcoiners.
A lot of the VC's value different properties and have different views on things. The most obvious reason why is Austrian vs Keynesian economics. If you're in this space and still don't know the difference.
Educate yourself. Here are some sources:
zerohedge.com/sites/default/…
economicreason.com/austrianeconom…


For #Bitcoin specific examples I recommend reading @jimmysong's articles: medium.com/@jimmysong/cry…
medium.com/@jimmysong/seg…
I honestly didn't know the difference either until I got into #Bitcoin just because it didn't really matter to me at the time. During my education I took some courses in economics but they were all Keynesian I figured out later... which explains why I was left with some questions
Read 10 tweets
Some large companies are getting into #Blockchain e.g. IBM, Maersk, etc. That does not mean that these companies nor institutional investors will invest in present day public blockchains nor their associated tokens. Don't take me for my word, read McKinsey's view on Blockchain.
The day a #bitcoin ETF gets approved, $BTC should spike hard, and all alts follow suit. Yet we call institutional money "smart money" for a reason. Institutional investors will likely differentiate the good from the bad. After the initial pump, cyrpto correlations should plummet.
Corollary: the inception of a bitcoin ETF should provide great money making opportunities in Alts/BTC pairs.
Read 3 tweets
#BTC/USD APAC Snapshot:

Outlook: Bear pullback

$BTC finding resistance with Daily RSI struggling to break above the historical line at 46 points.

Bearish MACD.

Increasing bullish volume to back rally past $6,386 is possible.

Bulls want to pierce $6,400 1st.

#bitcoin
#BTC/USD Update

Outlook: Bulls hold post pullback

Price retraced by only $50, a telling sign that #bitcoin bulls still have some strength left to hold current levels

Equil pattern starting to take shape with higher lows, lower highs on hourly

Retest at 6,400 more likely

$btc
Fair sized buy order of 52.1 #BTC ($350,961.6) on #Bitfinex maintaining prices at current levels for #bitcoin at $6,358.
Read 4 tweets
Majority of the time an index fund of *all* #cryptoassets produces better risk-adjusted returns than solely holding #bitcoin. medium.com/@xoelop/what-y… analysis via @xoelipedes
Somewhat obvious when you consider the effects of diversification & the moonshots this #crypto index includes, but good to see the concepts backed by data.
Given some of the concerns raised re: using all 1600+ #cryptoassets on @CoinMarketCap, would be good to see the same analysis for top 10/25/100, rebalanced annually + tax consideration.
Read 3 tweets
💣Treason💣

M’s indict’t details how GRU, RU’s military intel actively engaged in various cyberattacks on our infrastructure while interfering w/ our Elex, which c/b = to the Japan’s attack on PH = WAR. Ergo he set the legal foundation for charges of treason re US citizen A & A.
💣Treason2💣

.Mueller’s Indictment details how RU military intelligence officers (GRU) meddled in U.S. elections in 2016.

Trump has never condemned RU over its elex interference.

The WH press office statement on the indict’ts does not mention a RU attack on our democracy.😱
💣Treason3💣

Homeland Security chief calls Russian hacking "direct attack on our democracy"

Who is the “unnamed Congressional candidate” so named in the new Mueller indictment? Mast, Geatz, DeSantis or Rohrbacher or?

How Russian spies hid behind bitcoin in hacking campaign
Read 50 tweets
1/ In 2017 the SEC rejected two bitcoin ETFs, while in early 2018 multiple firms withdrew ETF filings, upon the SEC questioning whether the proposed ETFs could comply with various rules. What is the SEC looking for to approve a #bitcoin ETF?
2-a/ The Winklevoss ETF. The SEC determined the ETF proposal was not consistent with Section 6(b)(5) of Exchange Act, requiring rules of a national securities exchange designed to prevent fraudulent and manipulative practices and to protect investors. sec.gov/rules/sro/bats…
2-b/ To meet this standard, a) an exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity, and b) those markets must be regulated.
Read 16 tweets
Some large institutions perceive #bitcoin as a Ponzi and/or scam. Changing such perception will take time. The SEC approving an ETF won't change it. There are plenty regulated securities disliked by institutional investors.
The approval of CFTC regulated bitcoin futures was a massive win carrying significant long terms benefits for the industry. The ensuing bubble was unfortunate. CME and CBOE futures add liquidity and legitimacy to #bitcoin.
Approval of an ETF with a share size of 25 BTC would mostly only be attractive to large institutions, many of which may face mandate impediments to transact in such ETF or use it as underlying for structured products.
Read 6 tweets
Thread: the Internet has become a tool of the police state, and the world is heading towards totalitarianism. #Cypherpunks believed #encryption could save us. Is it too late? en.wikipedia.org/wiki/Cypherpunk
Julian #Assange was a member of the #Cypherpunks mailing list from December 1995 until June 2002. 303 of his old posts are still available online. marc.info/?a=90366091900…
#Assange hosted a #Cypherpunks discussion on his World Tomorrow TV show. Here's Part One:
And Part Two:
Read 6 tweets
That was the largest Bitmex 5 min volume print in history. Second largest was on July/4. While overall volume is diminishing, volume during pumps/dumps is increasing. #bitcoin $XBT $BTC
That BTW was tradeable. From the long side. Do not want to fade that, will usually get run over.
Example of trading breakouts. When doing so, trader must know how to take a loss. Breakout failed? Take loss. Yet when it works, it's paradise.

REACT > PREDICT.
Read 4 tweets
1/
All within the last 30 days in #Bitcoin

• All #Lightning implementations hit Beta! @blockstream @lightning @acinq_co
• lightning.spin gambling #Lapp
• RGB #Lightning + #Bitcoin assets @giacomozucco
#Liquid Sidechain Issued Assets @Blockstream
2/
• AMP #Lightning payment routing research @joostjgr
• Full Privacy Wasabi Wallet @nopara73
#Schnorr Signatures BIP!! @pwuille @Snyke
• BIS chief says "stop trying to create money" 🤣
@coinbase custody open for deposits!
@CasaHODL open for Business!
3/
@CNBCFastMoney -"#Bitcoin is dead" #lmao
• low-tech inbound LN capacity solution @alexbosworth ⚡️
#BetterHash protocol for decentralized mining pools @TheBlueMatt
@TheCryptoconomy releases 100th podcast episode! 😉🤣
• Atomic on-chain #LTC to off-chain #BTC swaps
Read 7 tweets
The #HydroQuebecCrisis saga continues.

More info here 👇
#AI #Bitcoin #Dissuasif #MiningOps
My previous thread on this matter

Click here ⚠️

Quebec #SMB's continues to be discriminated against, while they total 141MW in cumulative claims. #Dissuasif #Discriminatory #Bitcoin
Read 10 tweets
When people ask me if I'm "still" bullish about #crypto👇
Though it should be noted, bullishness depends heavily on your time horizon. @placeholdervc is a 10-year fund, on that scale I'm most certainly bullish on #crypto.
On a short-to-medium term horizon, I don't see a catalyst to meaningfully turn around sentiment in the #crypto markets.
Read 5 tweets
Are you upset at #bitcoin? Think crypto is manipulated garbage and only whales make money? Then have a look at gold, crude oil or stocks charts. Crypto is extremely directional. Both up and down. Relatively easy. Traditional markets are the exact opposite.
Trading crypto is what trading commodities used to be in the 70s and 80s. DIRECTIONAL. Breakouts work. Traditional markets on the other hand are a multidirectional *hitshow dominated by fakeout after fakeout after fakeout. Which is fine, just makes things much harder.
Think too many people get upset because of emotional attachment to some *hitcoin "oh but the tech, it will revolutionize the music industry, you don't understand!!!"
Read 3 tweets
One of the most robust explorations I've read on the economic & game theoretic limits of #Bitcoin & #PoW more broadly: nber.org/papers/w24717
Sorry for the paywall, but the paper is well worth the $5. Makes me think of hybrid #PoW & #PoS as a potential solution (part of the thinking around our $DCR investment), as research for pure #PoS is ongoing.
Paper confirmed my concerns around what on-chain transaction fees may have to be when the coinbase reward goes to zero (to accomodate 0% rate of inflation). Depending on assumptions: $18,700 to $37,400 to $108,700 per txn.
Read 6 tweets
1/ Sincerity is not transferrable.
2/ #Bitcoin and other coins that are on the "path to full immunity and decentralization" don't inherently mistrust specific people, rather its the idea of not having to trust any few at all.
3/ This is why crypto is important. When you set a precedent for non immutability, and you give "arbitrators" and a select few "sincere" people that power, even short term, the whole point of crypto goes away.
Read 4 tweets
1/ Trying to find explanations to this #bitcoin dump, e.g. are early adopters cashing out? The answer is no. The graph of cumulative bitcoin days destroyed. No significant change in slope. Maybe slightly steeper, but not much.
2/ Could it be stolen coins being sold? We’ve had a couple of large exchange hacks recently. Maybe. But the downstrend started before the hacks. So it is unlikely.
3/ Negative news? We’ve had positive news as well. So again unlikely. I don’t think this is news related at all.
Read 5 tweets
Bought #bitcoin for my personal account for the first time since the fork last year. Felt good. If it falls some more, I’ll buy some more.
I’ve never been good at timing the bottom, but I have learned the power of averaging in when investing in a space as volatile as #crypto.
Why’d I buy now? Sentiment extremely bearish, while $BTC appears to be respecting psychological support of $6K.

If we break it meaningfully, I’ll be watching the 5 yr moving averages—but I’m no trader, so give what I say little weight.
Read 3 tweets
1/ I understand the pain from #bitcoin's drop in price but the only relevant question is “Has anything changed with my initial investment thesis?"
2/ If the thesis that justified your investment in #bitcoin is still valid, then logic dictates HODL or increase your position.
3/ If your rationale for investing in #bitcoin no longer exists, then sell and move on. Take the tax deduction.
Read 9 tweets
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