Discover and read the best of Twitter Threads about #Bitsignal

Most recents (5)

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? Image
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

Daakiya

A wallet-to-wallet communication platform that happens to be end-to-end encrypted by @0xBhaisaab, @mryalamanchi, @abhikumar_98, and @PratyushRungta

Read 14 tweets
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 🧵
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. 😬
Read 17 tweets
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

🧵 Image
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. Image
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. Image
Read 10 tweets
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
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.

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.

Read 9 tweets
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.
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.
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.
Read 18 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!