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Dovey Wan 🗝 🦖
@DoveyWan
, 4 tweets, 1 min read Read on Twitter
"Chinese buying up Bitcoin" is a VERY dubious narrative IMO

1. Bitcoin is trading at a negative premium in Chinese centric exchanges like Huobi and Okex

2. RMB denominated OTC price is now at 1% premium, within its normal range since the bull
I personally think the overall global financial uncertainty does help push up the market, but capital might come from the non-Chinese side more than the Chinese side.

Gold, on the other hand, saw a real spike in volume and prices from the CNY denominated trading pair
if they really want to hedge global financial uncertainty, especially local currency devaluation, Tether is the go-to place.. instead of Bitcoin (sorry to let you guys down). BTC is more a long term hedge by some high net worth ppl

However, Tether is now at negative premium too
But we anyway want a sound narrative to moon Bitcoin :) So let it be, I totally buy into this 🤓
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More from @DoveyWan see all

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Dovey Wan 🗝 🦖
@DoveyWan
JUSTIN IN - China is ALMOST FINISHED its own digital fiat currency and plans to start trial by the end of this year

And instead of calling it CBDC, PBOC refers it as “DC/EP” (digital currency and electronic payment), so it gonna emphasize more on payment/settlement

GAME ON 😈
In a closed door PBOC planning meeting today, further accelerate the progress of Digital Reminbi becomes the main agenda of it. And PBOC executive brought up both Libra and Bitcoin, claimed both can’t meet the expectation of a highly scalable and parallel payment system
This is a exclusive forum (“Financial Forum of 40 People”) held by PBOC.

A few highlight of the meeting as below -

1. “Pure” Blockchain infra can’t meet ends need of daily operation for retail banking

2. Hence stuff will be structured on private cloud of PBOC (fine ...)
Read 8 tweets
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Dovey Wan 🗝 🦖
@DoveyWan
I found this history background very helpful for westerners to understand the core fundamental of how China becomes China - here is a thread (will expand into a series articles later) 👇🏻

Roman Empire vs The Qin Dynasty
1/ When Roman Empire fell and result in thousands years of fragmentation of Europe, Ancient Chinese emperor Qin Shi Huang unified the language, currency and civil laws for entire anchient China, resulted in thousands years of unity until the 19th century
2/ the Ch’in Dynasty (Qin) was a relatively short lived one but it sets the core ideology of “unity” and homogeny among the territory Han race resided

Han race has been the dominant race for the 5 thousand years of Chinese history, and is over 91% of China’s population now
Read 11 tweets
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Dovey Wan 🗝 🦖
@DoveyWan
WOW 😲 BITCOIN IS LEGALLY PROTECTED IN CHINA

Today the first property dispute case on Bitcoin finalized trial in a local Chinese court. The court confirmed the "virtual property" attribute of Bitcoin, recognized it as a virtual property with value

m.caijing.com.cn/api/show?conte…
I was browsing Weibo and Wechat on sentiment around the sharp Bitcoin rally, instead of Libra, folks attributed the rally to the case above then I realized it’s indeed a big milestone
bjnews.com.cn/finance/2019/0… this links has more details on the case

Basically someone bought 2.6 bitcoin in 2013 and was in the custody of the seller, and the seller closed out the business without any notice nor delivering Bitcoin to the buyer, hence the buyer sued it
Read 9 tweets

Related threads

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NebraskanGooner
@nebraskangooner
Thread:

#bitcoin
My indicator is based on identifying trends

Check this out:

Red X signal was given Feb 2014. We then got bull div for the first time end of March 2014

Red X signal was given March 2018(4 yrs later) and we now have bull div for the first time end of March 2019
What a coincidence, right?

Let's take a step back and see how the end of the bull market looked for each.

Notice anything about these dates almost exactly 4 years apart?

They mark the last push after parabola break right before the bear market went into full force.
These bear cycles started roughly the same day. 4 years apart.

Okay so let's jump ahead a few months.

Notice anything?

Both made approx 60% corrections at the 100 day mark.
Read 32 tweets
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Rahul Sood 🦄
@rahulsood
OKEX straight up asked us to increase volume by any means necessary or get delisted. Wonder why the SEC won't approve ETFs? 🤔

Sry OKEX we'd rather focus on our business not yours.

@SilvioSchembri @JosephMuscat_JM this is why 🇲🇹 needs to be very selective.

(Continued)
Bittrex is the most legit exchange, period. No bullshit fees to get listed, no fake volume or manipulation, the future of Blockchain tokens will be tokenized securities on approved exchanges with ring fenced custody. These other exchanges are in trouble long term.
The fact that OKEX charges token teams massive listing fees then forces them to fake liquidity is 😂.

Exchanges need to stop robbing token teams & start building platforms to enable innovation & access.

They need real tokens like $UKG more then we need them.
Read 7 tweets
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Matthew Willemsen
@mwill_crypto
0/ Investors breathed easier today as the price of large-cap digital assets like #bitcoin [ $BTC ] and #ether [ $ETH ] managed to hold steady.

Whilst many were glued to the charts, I was trawling through the interwebs for the latest from the world of #crypto. You're welcome 😉
1/ 📣 Fresh from launching v1.1.3 of its #mainnet, @NULSservice [ $NULS ] detailed the design architecture of NULS 2.0 in the below 23-page paper.

Allows #NULS to be more than just the underlying infrastructure of the #blockchain. Many more uses to come! nuls.io/api/v1/downloa…
2/ ⛏️ @UbiqSmart [ $UBQ ] has successfully hard-forked to #Ubqhash.

Having done so, Ubiq is now decoupled from #Ethash and, thus, is no longer vulnerable to rental hash attacks. This marks the first time an #Ethereum fork has forked to a PoW mining algorithm.
Read 19 tweets
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Dan Hedl
@danheld
1/ Planting Bitcoin - “Development/community” (4/4)

Bitcoin’s perfect seed (genetic code) had been planted at the right and place. Now it was time for Satoshi to nurture Bitcoin’s development.

medium.com/@danhedl/plant…
(Music has been paired with the Medium article)

Thread 👇
2/ “The project needs to grow gradually so the software can be strengthened along the way.” — Satoshi Nakamoto

Satoshi chose to be anonymous, which fit the ethos of the Cypherpunks. People can project hopes and dreams on an anonymous individual, ensuring maximal narrative fit.
3/ Volunteers need to rely on trusting the objective reality of the code, rather than focusing on the merits of the project leader.

“It does not matter to the operation of the technology, in the same way that the identity of the inventor of the wheel no longer matters”@saifedean
Read 26 tweets

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