Might be hosting a space room in Twitter tomorrow morning PST and will try grab a few other insiders to share what’s going on and what’s possibly going on in China, how does it differ than sep 2017 etc

@QwQiao @thomasheller_ @satofishi

down for that?
@satofishi is the most visionary early exodus miner I knew quit PRC in 2018 after the first ban

@QwQiao gets those hidden agendas of Chinese gov

@thomasheller_ knows well enough of mining in and out of China
@MustafaYilham will be joining us too. Most likely will be on Monday morning EST time
Will be on 10AM EST on Monday (~14 hours from now) will see you all there

twitter space is open to everybody on Twitter so no clubhouse invite code liquidity crunch ;)

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More from @DoveyWan

24 May
bloomberg.com/news/articles/…

This is very relevant to the China Bitcoin Ban

The core ethos of entire CCP governance is around “social stability” so 2 things violates it when it comes to #Bitcoin 1. capital outflow 2. Speculative behavior on the trading side

1/
”summoning top executives to a meeting that threatened severe punishment for violations ranging from excessive speculation to spreading fake news”

If we are to take this out the context it applies to pretty much all financial sectors in China where speculation can be induced

2/
Chinese retail are highly speculative making China A shares the largely retail dominated equity market on earth, result in a 20 yr of PnD chart unlike S&P’s up only

CCP’s tolerance of severe negative social news like retail investors suucie due to high lev trade is ZERO

3/
Read 4 tweets
21 May
Tether on China RMB on/off ramp OTC price is tanking ATM
U 跌成狗了… 都在疯狂出金🤭大家还是注意交易安全 特别是在火币OK有大仓位的
Tether on sale
Read 4 tweets
21 May
The seriousness of news is def more so than normal China FUD, can be material

1. It’s direct order from the state department

2. It’s emphasized by VP of PRC

In China policy’s execution and impact really matters on where the order is from and who announced it to the public
Also CCP has a known pattern to push policy update on Friday night(same for tradfi market)

As this can catch ppl off the guard and no agency will be working on weekend, leaving ppl no choice (and even hard to get clarifications) only prepare upcoming impact on coming week
gov.cn/xinwen/2021-05… this is the original VP’s talk summary form gov.cn

For it to be executed, there needs to be series of executable docs passed down to the actual agencies, so will wait for those in coming weeks to gauges level of seriousness
Read 4 tweets
20 May
I’ve had this conversion with @AWice before and wanna share it here too

The crypto game is NOT a poker tournament, it's a cash game. Stay on the table to build your stack up is priority #1

An endless game leads us to the infinite frontier, no matter you are builder, trader
Lots of us lost a ton of our net worth in last few days. But no matter builder, trader, hodler stay in the game is priority #1

I don’t like definite quote such as “make it back in one trade”, as long as u are in the game, the massive beta upside of the industry will reward you
I’ve seen so many friends and talents left the space in 2015/2019 winter, with frustration and wounds, turned themselves off in a perma denial after 2020 March crash

Sad they didn’t get a chance to enjoy what we have in past 12months of thrills and the infinite frontier in front
Read 5 tweets
19 May
Poll

_____ is worse and why?
I have mixed feeling, absolute scale March 2020 is def worse

- we were so close to entire asset class wipe out if Bitmex didn’t circuit break, could easily go to sub 1000 otherwise

- took much longer for a proper rebounce, dry powder drained

- macro was like end of the world
This time I’m uncomfortable primarily due to

- spot led dump, there are many over lev liq but it’s still spot led since 55k level and long term hodl wallets dump hard too

- the biggest retracement comp with 2017 so might abrupt the bull continuation (or we are more like 2013?
Read 4 tweets
27 Mar
A Korean top prop trader Bill Hwang was liquidated of his entire 15B position on over 80B gross notional exposure yesterday ... might be among the biggest liquidation in recent years for a Aisa prop shop

Many of his position are Chinese big tech stock like TME, BIDU, VIPS etc
And all his positions stocks hit hard yesterday. Bill started trading with his own money ~$200m after leaving Tiger Asia on 2012 and grew it to 15b before being completely wiped out (he traded Julian Roberson’s money in between and made 16m into 8b in 7yrs)

What a life.
If you are looking into building up position of $BIDU $TME $VIPS this is a pretty sweet BTD opportunity
Read 6 tweets

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