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, 4 tweets, 2 min read
1/ Other cryptoassets go up and down relative to #bitcoin— but if $BTC doesn’t go up in USD terms, nothing does (for the foreseeable future).
2/ So long as crypto remains relatively insular and #bitcoin continues to be the primary UoA & liquidity provider in the space, this connection is due to remain for a while.
3/ The length of that “while” will depend on how long it takes for valuation techniques to become guiding consensus, the integration of #crypto into broader global macro, and the economics of use at scale.
4/ imo $ETH is currently the only asset with an independent & large enough community to break off from $BTC setting the pace, but as of now ETH/BTC continues to play a lead role.

Others will debate me on this I’m sure, and we will all learn from the debate 🤓
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More from @cburniske see all

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Chris Burniske
@cburniske
1/ "Protocols provide structure for businesses, but are *not* businesses themselves; they are systems of logic that coordinate exchange between suppliers (businesses) and consumers of a service."
2/ As coordinators of exchange, protocols should be minimally extractive, whereas businesses are incentivized to be maximally extractive (that’s profit, and a business is valued as a multiple of its profit).
3/ Any unnecessary extraction from the process of exchange is a tax that will be weeded out by copy-paste competition in the world of open-source protocols. The benefit accrues to all of us as consumers.
Read 4 tweets
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Chris Burniske
@cburniske
1/ If you haven’t done so already, make sure your @telegram has a password. It’s not a default requirement.

If you don’t, you’re vulnerable to an account compromise, a growing trend that’s in its early days but likely to become an epidemic in crypto (similar to SIM swapping).
@telegram 2/ I learned this the hard way. I also learned SIM swapping the hard way in 2016, and then watched it sweep like a digital plague through crypto in the following years.
@telegram 3/ @ohmstone helped me immeasurably through this process and also pointed out @telegram’s lack of a “compromised account recovery process” is an embarrassment, as is its lack of default requiring a password.
Read 7 tweets
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Chris Burniske
@cburniske
@durov @telegram my TG account (same handle as my Twitter) was compromised & the hacker is scamming your users through my social network.

My personal situation is “okay” (I'd like my identity back), but I feel worse for the people getting tricked into irreversible losses of $$.
@durov @telegram @durov @telegram a few friends & I have been working since yesterday to shut the account down - unfortunately, your UI appears to have no solution once the account is compromised, and no TG support can be found.

Please have one of your staff DM me through Twitter to resolve.
@durov @telegram As a side note, @telegram is marketed as a secure app, but does not present a process to resolve account compromises.

Given the # of crypto folks on your platform + the increasing rate of TG compromises, I would recommend implementing a compromised account recovery process 🙏
Read 3 tweets

Related threads

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Jorge Stolfi
@JorgeStolfi
1. Just a reminder to those #Bitcoin believers who see "cheap coins": investing in cryptocurrencies is as stupid as investing in lottery tickets. >>
2. As in any typical lottery, more than half of the money that you invest in in cryptocurrencies goes straight into the pockets of those who run the system: chiefly miners and exchange operators. >>
3. As in any typical lottery, the remainder of your investment is distributed randomly and unevenly among the investors. >>
Read 10 tweets
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Trading Room
@tradingroomapp
$BTC vs $USD pairs

How to play?

BTC Up-Trend = Play USD Pairs

BTC Down Trend = Play BTC Pairs

BTC sideways = Play Both

BTC indecisive = Be selective & be prepared to jump either ways on short notice

This is relevant if #Bitcoin Dominance is high & rising up

Thread / 2
If #Bitcoin dominance is diminishing & on its way down, we can play:

$BTC Up-Trend = Up-Trending ALTs with stronger trends than BTC can offer higher profits in USD terms. You get the benefit from BTC up trend + ALTs uptrend

Thread / 3
If #Bitcoin dominance is diminishing

#BTC down trend = Play BTC paired ALTs with strong up-trends. This will help you to beat negative BTC returns & accumulate more #Bitcoins

#BTC sideways = Play whatever is trending

#BTC indecisive = Be prepared to jump either ways

Thread/4
Read 9 tweets
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DK
@dke82
1/ A few observations on #bitcoin, #tether and #crypto regarding what happened in the last 30 days or so. $BTC $ETH
2/ Obviously we all saw that, despite the unwillingness of #tether to provide an audit, there now seems to be enough public or non-public information available to the NYAG for them to allege that $USDT were, at least for a time, not backed up with USD.
3/ Furthermore, the cited conversation between Oz and Merlin shows beyond reasonable doubt (to me) that the #bitfinex/#tether complex engaged in market manipulation to avoid what would be a black-swan event for them
Read 19 tweets
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BitcoinGuru
@BitcoinGuruInfo
#Bitcoin Short-Squeeze Warning:
The chances of a short-squeeze is relatively high. It also looks like the longer we remain in sideways above $5,200 the more likely the shorts will get as dangerously high as the August or December 2018 squeezes tradingview.com/x/PTqtC5iX $BTCUSD $BTC
Bitcoin Bitfinex shorts still adding up and the Premium has reached an all time high today. Time to watch closely: We either pull back hard from $5,800s to $5,300 or experience the squeeze by end of day tomorrow #Bitcoin #Bitfinex #Tether $USDT $BTCUSD
tradingview.com/x/K8aSuor9
The short-squeeze played out nicely. However, shorts remain quite high which means we will be heading higher over the weekend to $6,700-6,800 on Bitfinex or $6,400-6,500 Bitstamp before a major pull back. tradingview.com/x/brmTYXwp #Bitcoin #Bitfinex $BTCUSD $BTC #Crypto
Read 5 tweets
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Ryan Radloff ⚡️
@RyanRadloff
🔥 HOT TAKE 🔥 OVER HALF OF THE REMAINING NON-MINTED BITCOIN ARE ALREADY SPOKEN FOR.

Keep reading before you tell me I’m wrong.

👇👇👇

medium.com/coinshares/hal…
2/ When I meet with legacy investors I often get asked “who in the world owns this stuff?” This is usually followed by “ok, and who will?”

What these people *really* want to understand is potential future demand, or the classic concept of Total Addressable Market (TAM).
3/ A few weeks ago I came across this survey from @ING_news -->


It caught my eye because for the first time I can remember - due to results and sample size (14,828) - I have what I need to build a data-driven base to start determining potential TAM.
Read 35 tweets

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#Twitter #crypto #BlindItem #DeFi #BillClinton #CyrusVance #trading #AI #UnitedWeStand #blockchain #MadHatter #Showtime #deflationary #Dapper #Bitcoin #btcusd #Bitfinex #MichaelJackson #kriptopara #EnjoyTheShow #Ethereum #BTC #TruthThePlan #Bittrex #forfeiture
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