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WhalePanda @WhalePanda
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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
That was one of the reasons why the Silicon Valley VC's missed out for a large part on the #Bitcoin boom. It made no sense to them, it was a fad.
Because they can't afford to miss out on everything they're now investing in a lot of questionable projects that make no sense.
In a way the initial Bitcoin ecosystem grew with a limited amount of VC money, so limited power.
One time some of these VC's and CEO's tried to steer Bitcoin in their own direction (Segwit2x) and they got burned.
That's when the "hate" against Bitcoin maximalism was established.
You see articles/people every day calling Bitcoiners toxic. @NickSzabo4 has a good thread:
VC's don't like the fact that they can't control the industry and Bitcoiners don't like people messing with their valuable Bitcoin. There's a lot of distrust.
VC's feel disrespected, where in other industries they were in total control since they were needed. That created a lot of big egos.
In Bitcoin that's different. A lot of Bitcoiners already made a lot of money, believe in its value and will (re)invest in Bitcoin startups.
Bitcoiners are their own angel investors/VC's. Honeybadger don't care if you come from SV. Anyone can participate Bitcoin is permissionless, many Bitcoiners have FU money & devs either care about working on something amazing or are funded by other Bitcoiners to work. ❤️ FOSS.
Anyone that says that HODLing is bad, doesn't understand Austrian economics.
Anyone that says that devs need incentives, don't know how FOSS works and why it's successful.
TLDR VC's;
=> didn't understand BTC
=> missed out
=> tried to enter but weren't welcomed as heroes as in other industries
=> still Bitcoin makes no sense
=> can't afford to miss out so invest in silly blockchain projects
=> Bitcoiners point out how silly the projects are
=> FUD
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As a monetary Bitcoin maximalist (trade shitcoins to make more BTC) it's interesting to see both sides. Ofc $ETH isn't going to 0 yet. There's too much money behind it. It'll pump again. Will it ever reach its ATH again vs BTC? Doubtful. Will it reach ATH vs USD? Depends on BTC.
Very few coins die just like that as long as there is a decent exchange supporting it and there are some people working on it. Look at all those old coins that are still alive. Accumulate, pump, distribute/dump.
$ETH is interesting though, many people claim that there is a lot of dev activity on $ETH however most of that activity is actually by companies/projects which work on tokens/smart contracts. Their reliance/allegiance to ETH is limited since they can switch to another platform.
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*Trigger warning* Why have the Ripplers become so obsessed with decentralization even though it's a premined centralized altcoin which was so centralized that a part of the history is lost forever? A thread.
A post posted on Ripple.com by their CTO who claims Ripple has nothing to do with $XRP, even though it was posted on Ripple.com, described the decentralization aspects of $XRP ripple.com/insights/the-i…
Why the sudden obsession with decentralization? In the past Ripple (sorry $XRP) got added to most exchanges almost immediately since it had a relatively high (top 5) marketcap. Due to more strict regulations and the very real possibility $XRP is a security this stopped happening.
Read 9 tweets
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To recap the Bitmain disaster recovery IPO:
1) They sold most of their $BTC and have now over 1 million $BCH
2) They purposely didn't include the Q2 numbers for Pre-IPO buyers since they were a disaster
3) They told Pre-IPO buyers they would use some of the money to buy more BCH
4) The last 2 chips they designed didn't work out
5) They're currently selling miners below cost
6) Their AI department is a joke
There is way more competition now and with the stagnation and even losses mentioned above they need to IPO or they're doomed. Anyone buying the Bitmain IPO is basically throwing money in the dumpster fire.
This is also a great article on the dumpster fire: medium.com/@btcWolves/a-b…
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My election 2018 postmortem analysis thread begins here.

The primary takeaway for both parties from last night: the phrase "Senator Romney" sounds weird af.
Srsly tho, unfinished business first: I expect Tester to barely hold on in MT-SEN as the final returns come from Missoula and Gallatin Counties, places that voted big for him. But, as I kept insisting in the last month, this race was way closer than the media made it out to be.
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Still on a bit of a nostalgic #DoctorWho kick, in particular for the Moffat Era.

So now watching “Dark Water”, the first part of the two-part eighth season finale.
“It's a terrible thing. Just a terrible, terrible thing.”
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“Boring?”
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#VS-Mitarbeiter erzählt im #NSUUA, dass in der Auswertung zwischen "Neonazis" und "NPD" unterschieden wurde. Wer also aus den Freien Kräften kommt und in die NPD eintritt, wird nicht mehr unter "Neonazi" geführt.
So klingt die Zahl der Neonazis gleich ein bisschen besser ☝️
Gleich wurde übrigens mit "Überläufern" von organisierter Kriminalität und Neonazis bzw NPD verfahren, obwohl VS-Mitarbeiter selbst Fall nennt, in dem jemand aus Türsteher/Rockerszene auch im NPD-Ordnungsdienst aktiv war. #nsuuath
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Since a lot of traders still somehow don't understand Bitmex's perpetual swap contracts and how funding works, will do a quick thread on this..
Bitmex's XBTUSD is a derivative product, designed to replicate spot BTC, but with the ability to use massive leverage. Unlike futures, it's intended to not have a basis (difference between a derivative and spot), and this is accomplished via the funding mechanism.
Every 8 hours, a funding fee is charged on each open position -- This is not a fee paid to Bitmex, it's peer to peer, longs pay shorts, or shorts pay longs. Why does this happen?
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Interesting. I wonder how many of us who launch ourselves in weird and wonderful directions finally realise what we are when we hit a wall that can no longer be climbed?
If we're lucky, we find a profession and a way of life that fits our atypicality, the peculiar ways that we're wired. But, as is the way, we pick up complications along the way, things that our 'specialness' can't resolve because they result from that specialness
Doing something different from everyone else because somehow you're different from everyone else you have a kind of grace period where everything meshes and your quirks make the running for you. Then the period of grace ends and the quirks want their due
Read 13 tweets
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