Discover and read the best of Twitter Threads about #safu

Most recents (2)

Why you should move from BitMEX to BTSE. A thread 👇

1/ We use a next-generation matching engine which runs purely in memory. This eliminates the need for databases and speeds up transactions to sub-millisecond times. No frozen trades, no headaches.
2/ BTSE uses horizontal scaling, which means that we can upgrade our servers with 0 downtime. This is essential during bull markets when a lot of users sign up & log into their accounts, as the scalability issue gets resolved. People were buying Binance accounts in 2017? Ha!
3/ BTSE's servers are self-hosted, which makes us just as careless to @awscloud's unexpected crashes as this dancing honey badger. It's also great for data security and privacy.
Read 8 tweets
Brief reality check on what caused last 10 days of #bitcoin upside. Sure seems driven by #tether fear and people moving their money off #bitfinex $USDT (on a potentially bankrupt exchange) into $BTC and out to a safe place. Funds may not be #SAFU. Below #bfx to #bitstamp premium.
According to @thetokenanalyst, #bitfinex had net #bitcoin outflows of 112,500 $BTC since #tether news broke. That's 620m USD roughly. Assuming #bfx data accurate it would be entire traded volume in BTC to stablecoins since then. Bankrun in slow-motion with no one around noticing.
Further point on this - I have never seen positioning in #bitcoin on #bitmex be so Bullish (ie 1.7x Longs/Shorts) but at the same time seen mex futures in such strong backwardation (ie discount to present). Means market really wants $BTC now, but in three months - not so much.
Read 5 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just three 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!