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As one of the skeptics, this is what I think Bitcoin has going for it:

1. the most developed financial infrastructure - regulated/unregulated spot, derivatives (options, futures, perps)

2. the most liquidity (about 4x as much as the trailing ETH)

3. the most regulatory clarity
4. strongest money narrative

5. arguably the most decentralized (and no known founder)

6. the most battle-tested (contentious hard forks, etc.)

7. the most secure

8. the best distribution
To cap it off, these are my favorite bitcoiners - people who I believe stay objective despite the cultish nature of Bitcoin. I'm sure there are more but these are the ones whose perspectives I appreciate the most

1. @ercwl
2. @hasufl
3. @arjunblj
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Larry Cermak
@lawmaster
EU's Anti-Money Laundering Directive (5AMLD) is set to take effect in two weeks. Exchanges will have to register and let authorities obtain KYC of users. This means that even Binance and OKEx, both based in Malta, will be required to follow these rules or leave the EU
Binance currently has a withdrawal limit of 2 BTC (~$14,000), for which it doesn't require KYC. If it's less than 2 BTC, it only requires KYC if there is suspected fraudulent activity, The EU will explicitly not allow that and Binance is based in the EU. Something to watch
I think the only way for Binance to keep the current conditions would be to start geo-blocking all EU users. Wouldn’t be surprised if they announce something similar to when they announced that they’d stop serving U.S. customers
Read 4 tweets
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Larry Cermak
@lawmaster
It was good to be on @laurashin's podcast. Talking about macro trends is not super intuitive without charts and data so I will attempt to summarize below.
Markets are not very active currently. Traded volume on Bitwise 10 exchanges hit an 8-month low in November with daily avg traded volume of $1.43B in November (12% down from October and 61% down from June)
Binance is capturing more market share while Bittrex and Bitfinex continue to struggle
Read 15 tweets
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Larry Cermak
@lawmaster
All I will say about this case is that both Virgil and the Ethereum Foundation showed incredibly poor judgement. This is a textbook case of an ideologically driven individual who probably doesn’t even realize he did anything wrong. And it’s shocking that the the EF didn’t step in
I don’t believe there was any ill-intent rather than just incredibly low level of self-awareness. The case also appears rather weak. But I fear that the U.S. government will try to make an example out of him. Wouldn’t be the first or the last time
Read 8 tweets

Related threads

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Tanmay Kurtkoti Quants Capital
@Quants_Capital
#Options vs #Futures

Although both are #derivatives, Futures and Options are entirely different in terms of their potential #risk and #return , #leverage and how they work.

How different are futures and options?
#Rights vs #Obligations

In #Futures Trading, both the buyer & the seller are #obligated to settle the contracts on or before expiry ie cover shorts or longs or rollover to next contract, regardless of how the underlying asset price moves.
With #Options the buyer has the #Right, but not the #Obligation, to buy (call option) or sell (put option) on underlying asset. The option seller is #passive and must comply with whatever the option buyer does.
Read 13 tweets
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CryptoKea
@CryptoKea
26/ Bitcoin´s price is very much on track to resemble the first major correction of 2017´s bull market in terms of Mayer Multiples (see full thread for details & targets). Even if we go all the way down to the bottom of the bullish channel, this is still considered a bull market.
For some reason, I cannot attach this post to the prior thread. Please find it here for all the details:
27/ With yesterday´s close, my main targets got hit:

✅Rejection and reversal at 2.5x the 200 DMA (predicted on 24 June with BTC at 11k, hit on 26 June at 12,8k on daily close).

✅Break down to 1.7x the 200 DMA (predicted on 3 July with BTC at 11.9k, hit on 16 July at 9,5k).
Read 38 tweets
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Ryan Radloff 👩‍🚀
@RyanRadloff
1/ The next bitcoin monetary supply halving in May ‘20 is coming at an important moment

The last 40 years of financial crises have occurred right after treasury curves become inverted & spread dips below zero

#Bitcoin was created shortly after the last time this happened

👇
2/ March 2019 marks the first time we have seen these spreads dip below zero since the birth of #bitcoin
3/ the yield curve is artificially inverted because of the Fed’s market-distorting quantitative easing program, a jump in Treasury bill issuance and low global interest rates have
Read 7 tweets
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Jake Chervinsky
@jchervinsky
0/ The SEC killed *all* of the pending derivative-backed #bitcoin ETFs today. Why did they do it, and what does it mean?

Thread.

1/ All eyes were on the SEC this week, as the final deadline to approve or reject the two ProShares bitcoin ETFs was tomorrow, August 23.

Most of us on #cryptotwitter were expecting the ETFs to be rejected.

2/ But we weren't expecting the SEC to also reject *seven* other derivative-backed ETFs proposed by GraniteShares & Direxion. Those ETFs weren't due for final decisions until September 15 and 21 respectively.

The only ETF left now is the VanEck/SolidX commodity-backed offering.
Read 11 tweets
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Parabolic Trav
@parabolictrav
1/ I believe that financial product innovation drives market cycles. New methods of access and leverage improve ability to speculate, and if the underlying is bullish, they can dramatically enhance returns. 1920s, for instance, was so powerful due to the introduction of margin.
2/ The 1980s, as well, was so incredibly powerful due to the introduction of futures trading on the S&P 500 in April 1982. Some of the most famous investors/speculators made the bulk of their wealth in the 1980s (Soros, Tudor Jones).
3/ When SP500 futures were introduced in '82, the market fell an abrupt 15% afterwards. Once the new instrument took hold, I feel it was instrumental in the extreme uptrend that ultimately led to the 1987 crash.
Read 7 tweets

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