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Discover and read the best of Twitter Threads about #Bitcoin

Most recents (24)
The #uber / bitcoin story out of Argentina is interesting.

Censorship resistance meets the mainstream.
People are going to start realizing, having a little #bitcoin, in your own possession, is a good idea.
Plus @wences has come full circle. 👏
Read 3 tweets
#India can't ban #bitcoin. Bitcoin will happily and easily move underground and the resulting premium will draw in more.
Countries will eventually get it, trying to ban bitcoin incentivizes civil disobedience.
It's also interesting that the two gold loving countries of China and India fight bitcoin so much.

Will they be on the wrong side of a monetary shift once again?
Read 3 tweets
Oh #Satoshi, I just found a new #RabbitHole! 🤯
tl;dr: #OpenSource #Bitcoin Wallets are like privately minted #gold coins.

In a free economy with gold as the one sound money, the global consensus are the 79 protons of the gold atom. There are different shapes and forms of collections of atoms, but fundamentally, as long as there are 79 protons, it is the base money.
The raw resource of gold is mixed with lots of dirt, stone and other lesser metals, and extracting gold ore is an entrepreneurial task. Human ingenuity and labor has to be intermingled with these natural resources so to increase the production stage of this good.
Read 15 tweets
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@ericgarland @911CORLEBRA777 @JamesFourM @thespybrief @patribotics @LouiseMensch @ninaandtito @DirkSchwenk @xtrixcyclex @colinkalmbacher @claytonpurdom @emzanotti @RoyBlunt @FBIWFO @NewYorkFBI @FBILosAngeles @INTERPOL_HQ @DHSgov It's hard to overstate how important a cooperating Manafort becomes to unraveling media subversion.

But let's start with Eric's documentation of media-influence operations & go from there.
@ericgarland @911CORLEBRA777 @JamesFourM @thespybrief @patribotics @LouiseMensch @ninaandtito @DirkSchwenk @xtrixcyclex @colinkalmbacher @claytonpurdom @emzanotti @RoyBlunt @FBIWFO @NewYorkFBI @FBILosAngeles @INTERPOL_HQ @DHSgov First, remember @ericgarland initially just released the public, executive summary of his research into *one* aspect of this - a consistent pattern of harassment in response to his original Game Theory thread.
@ericgarland @911CORLEBRA777 @JamesFourM @thespybrief @patribotics @LouiseMensch @ninaandtito @DirkSchwenk @xtrixcyclex @colinkalmbacher @claytonpurdom @emzanotti @RoyBlunt @FBIWFO @NewYorkFBI @FBILosAngeles @INTERPOL_HQ @DHSgov There are so many critical details to go over here.

One, the patterns were easily detected, & hard evidence could be found in abundance.

Two, Eric *didn't* stop with documenting & researching just that one piece.
Read 55 tweets
@Valustks1 Each one of the techs listed is revolutionary in it's own right. Combining them sets us up to replace *all* financial transactions with #bitcoin. Once the epiphany hits enough people, there will be a MAD rush to get rid of worthless fiat.
@Valustks1 This will be the trigger for the already 'waiting to happen' global hyper inflation.
Imagine the chaos during the *several* year transition period while people/gov/corps *globally* move from fiat to bitcoin.
All your IOUs that are fiat denominated are suddenly worthless.
@Valustks1 It *globally* resets all debt, at every level, personal, local gov, state, federal, and international... ALL goes to zero. What does it matter if you own $20T in debt, if $20T wouldn't buy a stick of gum?

Then, another big part... the globe goes from inflationary
Read 7 tweets
#BTC #Bitcoin + #LightningNetwork + Autopilot + Splicing will cause more earth shattering changes than have happened in the last 500 years.
The invention of the internet and industrial revolution combined are NOTHING compared to whats to come.
Oh ya, completely forgot AMP... that's an extremely important piece of tech as well.
Oops, posted the additional comments in the wrong place:
Read 3 tweets
A new, great #Bitcoin meme has born today!! #MegalomaniacRoger!!!

This is the first iteration. Please RT and make your own version.
A few humble suggestions:

"I'm the reason heliocentrism is so popular today. I did it once, I will do it again with Hollow Earth theories!!!"

"I'm the reason antibiotics are so popular today. I did it once, I will do it again with Healing Crystals!!!"
The original image.
And an handy website for your variations:
Read 4 tweets
1/ Most people think #Bitcoin’s PoW is "wasteful." I explore how everything is energy, money is energy, subjective use of energy, and PoW's costs relative to existing governance systems

For a deeper dive, my Medium post:…

TL;DR - check out this thread 👇
2/ The idea of “work” being energy started when the French Mathematician Gaspard-Gustave de Coriolis introduced the idea of energy being “work done.” A long time ago, the work done in the economy was entirely human. That work was powered by food.
3/ Thousands of years ago, our energy usage increased when we domesticated animals which could labor in our place. Those new laborers also had to be fed. Large amounts of food were required to meet the energy demand, and our prosperity increased alongside.
Read 25 tweets
The altcoin bubble is an externality for #bitcoin.
Satoshi Dice also put its externalities on the network.
Read 3 tweets
1/ Get ready for a predictable #crypto pattern: in the coming months, we will see an increasing number of #Bitcoin maximalists tormenting “altcoin investors” for straying from the mother ship.
2/ The maximalist drum will get louder as we go deeper into the bear market, with #bitcoin falling less than most other coins, and its dominance index growing.…
3/ #Bitcoin is the benchmark after all, the market beta of crypto, with most everything oscillating at a higher amplitude than $BTC.
Read 18 tweets
1/ #Ethereum is crashing (not just in USD terms but in BTC terms); has the demand for a decentralized world computer disappeared, or is something else at play? Let's consider the fundamentals from an economic point of view.
2/ The price level of all monetary goods is determined by (and only by) reservation demand. More precisely, the duration that the average unit of the monetary good is held in reserve.
3/ At one extreme you have a good like gold that is stored in vaults in perpetuity because of a widely held belief that it will retain its value long into the future.

Gold has a very high reservation demand which is why it has a market cap of over seven trillion dollars.
Read 13 tweets
1/ in markets, investor psychology is everything. i shared my thoughts on greed, investor psychology, shitcoin, and market cannibalization at @dezentral_io in berlin and wanted to share some of these ideas here...

option b: skip directly to slides here:…
2/ investors in the crypto ecosystem saw everything go up and to the right. everyone in the market is feeling good, and worth a lot on paper. everyone outside the market is feeling FOMO, and wants in on some juicy returns. the narrative is "blockchain, make me money!"
3/ everyone starts looking for the next #bitcoin, #ethereum, #ripple. people begin to believe that the market will go up and to the right forever, and investors flush with paper returns from the crypto casino rush to multiply their money at the shitcoin roulette wheel.
Read 22 tweets
1/ Per the analysis below, #bitcoin’s velocity thus far in 2018 has been ~3, about half that of 2016 and 2017.
2/ While a drop in velocity may seem problematic, it’s actually what you’d expect from a *reserve currency.*
3/ With a reserve currency, as confidence falls market wide more people will hold onto the reserve asset (in this case, #bitcoin), dropping its velocity.
Read 5 tweets
1/ a quick thread on protocols focused on location. location data is leveraged by many consumer services (Google Maps, Uber), but also by military and industrial applications. now teams are #blockchain-ing this data to make it tamper-proof (secure), verifiable, and trustless.
2/ furthermore, new applications like self driving vehicles, AI, and increasingly digitized consumer, industrial, and military services will rely on secure location information services to deliver service. example - in 2012, a military drone was hacked and "stolen" by students...
3/ several projects are working on a new form of consensus called "proof of location" to design new mechanisms for collecting, verifying, storing, and sending data about location to the services and applications that consumer this data. let's dig into proof of location.
Read 11 tweets
1)I am seeing an increasing number of people under the impression that #lightning as an overlay bridge network for #blockchains (via atomic swaps) is a great thing for alts.

And they can not be more wrong.

In reality, Lightning is where #altcoins will come in droves only to die
2) At the moment, all blockchains are entirely segregated from one another. The only real bridge that exists today are exchanges which are largely inefficient with enormous amounts of friction, ie. registration, KYC/AML, confirmation wait times for deposits/withdrawals, etc.
3) Friction & segregation of networks protects smaller networks from larger ones consuming & engulfing them. Network theory teaches us that we continually gravitate towards the singularity, after all this is the entire premise of a network. This is evident all throughout history.
Read 11 tweets
Some news are noise or FUD. Goldman ditching plans to open a trading desk is neither. It indicates lack of interest from Goldman's clients, which can be extrapolated to others' in the institutional space. It also reduces odds of a US based ETN, which requires a trading desk.
In efficient markets it all boils down to discounting future events. Any piece of news that changes probabilities and the perception of probabilities should have an impact on price.
Read 6 tweets
1/ Good intentions are commendable but actions and consequences matter too (a lot more imo).

I was one of Erik's biggest fans before 2017 but then he became a leader in the most concerted political attack on Bitcoin in its history (#NO2X).
2/ Let us not forget that reputation should be associated with the consequences of our actions. Erik and ShapeShift have earned the suspicion of people who care about #Bitcoin.

If 2X had succeeded (with Erik's help), BTC's core value would have been destroyed.
3/ Bitcoin survived because of a strong streak of corporate suspicion in its community. That suspicion is now trained on ShapeShift, which is clearly changing the nature of its business at the expense of the privacy of its users.
Read 5 tweets
1/ Lots of chatter about #bitcoin shorts at ATH's over the last couple weeks & particularly now as someone opened a 10,000 $BTC short position ( > $70M) last night.
2/ The interesting thing with outstanding short positions as an indicator is it can simultaneously be interpreted in opposite ways.
3/ From a momentum perspective, lots of short positions can be interpreted as a good time to pile on, as shorts collectively work to break an asset's back.
Read 5 tweets
My latest estimations for #Bitcoin Energy Consumption based on hashrate. Worldwide consumption likely to be between 3880MW and 5080MW with average of 0.035% of the world's energy consumption. I will soon update to include latest HW from Canaan, Bitewei and more as they roll out.
Source data sheet with auto-update now available here :…
Updated with newest models, stats and upcoming units!
Read 3 tweets
If you want to parrot fiat propaganda,

serve this or that govt master,
this or that warfare/welfare system,
be our guest.

We don't need you or your drama.
But we know,
as you slowly lose control,
as your supporters turn opponents,
you'll come for our gains,
you'll make claims to what you now oppose.

You'll send goons and agents to knock on our doors,
demanding a share,
demanding we submit.
But we're different,
we studied your playbook,

we're prepared with state-of-the-art defensive technology,
we built the bedrock of the new system under your nose.

We are the emerging market,
say what you want,
it's outside your control.

- #Bitcoin
Read 3 tweets
Even if #bitcoin fees were the equivalent of $500, sending $50k would still be very economical.
Even if #bitcoin fees were the equivalent of $500, aggregating 1000 $50 txs would still be very economical.
With #bitcoin fees at the equivalent of $500, meaning blocks are full and space saving optimizations fully utilized, each block can contain ~5000 txs or $2.5m in fees.

The current block reward is 12.5 btc = $87k at today's price.
Read 3 tweets
"It's the future of money because it's censorship resistant, deflationary and decentralized, so the da gov't can't print it! Sooo your savings are safe from inflation... OMG STORE OFF VAULEEE!!1 NOO REGULATIOOON"

Yeah. Tether.

But more importantly ... /1
Ya can take a boulder, paint some wheels on it, and call it "a futuristic automobile". Your newly invented "car", will be outside traffic laws, hence out of gov't control. GREAT! More power to you! ... /2
You've now become the weirdo pretending to drive on the interstate, while sitting on a painted boulder and screaming to everyone passing by: "Hey ignorant no-coiner! come and see the amazing future of unhindered driving!"

To understand where it all went downhill for you ... /3
Read 10 tweets
1/ The strength of a species is not determined in times of plenty but only in extremis.

And so it will be for cryptocurrencies.
2/ Only #Bitcoin has repeatedly survived repeated vicious bear markets.

Only Bitcoin has weathered a major corporate political and miner attack with 2x.

Only Bitcoin has overcome government regulation and continued to thrive.
3/ Your giant, lumbering "world computer" may seem impressive but when the meteor hits it will be the cockroach that survives.
Read 3 tweets
$BTC #Bitcoin 💥

Pretty damn similar if ya ask me. Just something to keep in mind
Chill out people I’m not trading a fractal
Read 3 tweets
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