Luke Martin Profile picture
Jul 27 18 tweets 6 min read Read on X
Best moments from Bitcoin 2024 Nashville

(thread)Image
Presidential candidate RFK Jr. plans an executive order directing the US treasury to purchase 550 Bitcoin daily until the reserve holds 4 million BTC.

"The cascading impact from these actions will move $BTC to a valuation of hundreds of trillions of dollars." - @RobertKennedyJr
Edward Snowden on Bitcoin as an alternative to the rigged system run by corrupt politicians & regulators.

"We are winning, ladies and gentleman. But we havn't won...so we have make sure that we don't get cocky." - @Snowden
Michael Saylor shares his macro outlook for $BTC in the year 2045.

Bear case = $3M per coin
Base case = $13M per coin
Bull case = $49M per coin

- @saylor
Blackrock's Head of Digital Assets says ETF buyers have been almost entirely buy-&-hold investors.

"Blackrock Spot $BTC ETF has had one day of negative flows in 6 months."
RFK Jr. announces executive order directing the IRS to make radical changes to how it handles $BTC transactions.

"All transactions between Bitcoin & the USD are unreportable transactions. By extension, non-taxable." - @RobertKennedyJr
@RobertKennedyJr Saylor argues the US govt should own the majority of Bitcoin in the world.

"The future of the country is in cyberspace, and Bitcoin is cyber Manhattan. The way you back the dollar is you buy Manhattan. And you buy it before it's worth 100s of trillions of dollars." - @saylor
@RobertKennedyJr @saylor Presidential candidate @RobertKennedyJr hints that Trump will announce his plan to start buying 1 million Bitcoin as a strategic reserve asset during his speech.
@RobertKennedyJr @saylor Powerful words from Dave Smith on why Bitcoin's potential is limitless.

"Every evil thing that governments do, is only because they control the money supply." - @ComicDaveSmith

"The United States will be the crypto capital of the planet, and the Bitcoin superpower of the world."

- @realDonaldTrump
@realDonaldTrump Joe Biden & Kamala Harris anti-crypto crusade will be over.

The weaponization against your industry ends.

- @realDonaldTrump
@realDonaldTrump On day one...I will fire Gary Gensler.

ON DAY ONE....I WILL FIRE GARY GENSLER!

- @realDonaldTrump
@realDonaldTrump President Trump promises to immediately shutdown Operation Chokepoint 2.0.

"No longer will your government watch as Bitcoin jobs & businesses flee to other countries."

Seriously impressive whoever prepped him on this.
@realDonaldTrump "There will never be a CBDC while I am president of the United States."

- @realDonaldTrump
@realDonaldTrump Trump pledges to support the expansion of stablecoins.

"Bitcoin is not threatening the dollar. The behavior of the current US government is threatening the dollar."

- @realDonaldTrump
@realDonaldTrump "NEVER SELL YOUR BITCOIN"

Trump announces the government will hold 100% of their Bitcoin and create the core strategic national $BTC stockpile.
@realDonaldTrump If Trump wins the election, Ross Ulbricht will be a free man after 11 years in federal prison.

FREE ROSS
@realDonaldTrump This might be more bullish than the entire Trump speech.

@SenLummis proposes legislation that the US government will buy 5% of the total $BTC supply and hold for atleast 20 years.

Saylor's prediction will come true if this happens.

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More from @VentureCoinist

Mar 20
I may be the first person on Solana to rug themself.

Imagine the Slerf guy, but even dumber.

If you trade memes you'll enjoy this thread for an inside look at how memecoin sausage is made:

🧵
In a CT convo with @blknoiz06 10 days ago, people turned my dog into a meme.

(tbh the dog does look absurd)

It took 10 mins for 5-6 fresh memecoins to start popping up on Solana.

And expectedly....some of them started to rug.
My thought was:

"Damn, this is cool seeing people instantly rally around my dog turning it into a meme. How can we help bring this to life & ensure no rug?"

This led to a ridiculous series of events...
Read 20 tweets
Nov 14, 2022
1/ Wow.

He's starting to admit what happened.

Alameda accumulated a large margin position and let it run until both went bust.

Crazy rewatching my conversation with him 3 years ago explains his thought process for improvements at FTX that eventually caused it to blow up.

⤵️
2/ Sam wasn't happy with the inefficiencies normal crypto derivs platforms have to deal with.

Crypto derivs venues have to ensure an account doesn't go negative...has to be the matching engine & clearing house in one.

He wanted a crypto exchange that operated more like tradfi.
3/ They asked other exchanges to implement it with their suggested changes but no one was interested.

Sam was frustrated after auto-deleveraging when accounts go bust and from cascading liquidations.

He thought his system could act as a better backstop.
Read 7 tweets
Nov 14, 2022
1/ I have a dm conversation with Sam from 2019 that is absolutely hilarious given what's happened.

(obviously what happened with FTX is not funny, but SBF asking for .75 BTC is now)

And no, this is not photoshopped.

Let me explain...

🧵
2/ For the past few years I've hosted some of the best traders, investors, funds, analysts, and founders on my podcast.

My focus has always been on learning from the smartest people in crypto.

I realized it was a bonus if I could share those convos with everyone @StacksPodcast
3/ So why did Sam message me this 3 years ago?

I reached out to have him on my show.

In 2019 the Bitmex leaderboard was a scoreboard for whales.

The account in the #2 spot?

Alameda Research
Read 16 tweets
Oct 14, 2022
1/ Wanna get rich quick?

Don't trade, submit DAO funding proposals.

I saw a thread highlighting that DAO funding is a serious problem so I checked out previous @harmonyprotocol funded grants.

It does not take much to receive a decent chunk of money.

🧵A few of my favorites:
2/ Aura Dogs DAO aims to spread good vibes throughout the crypto space.

Might sell some NFTs too.

Funded for $60,000 Image
3/ LightItUp DAO planned to build outdoor light projection art that would raise awareness(?)

Attended some meetups, took a roadtrip to Vegas, and hit NFT NYC.

No outdoor light projection art deliverables, but they did get a metamask hacked.

Funded for $75,000 Image
Read 14 tweets
May 22, 2019
Short term pattern worth watching for a large number of binance alts:

1/ Local low formed on May 14th
2/ Higher low on May 20th
3/ Pop happening 2 days after the higher low

Leaders are a guide. All up 10-35% on day 2 after HL.

How to take advantage? Find the laggers.
Two more examples of the pattern:

- Low on 5/14
- HL 5/20
- 2 days after HL rises of 10-30%

Once again - the charts I'm showing have already had their jump.

The plays/setups that are still attractive have first 2 steps and are only up 1-3% today.

That's the inefficiency.
Some of the examples above really starting to pop: $AST at +60-70% on the day.

Last tweet showed what the pattern looked like before.

There are so many that are +1-5% today after a higher low 2 days ago.
Read 4 tweets
Mar 6, 2019
Correlation between $BTC & Altcoin/BTC price is high. True historically & currently. Put simply: if $BTC is rising, most alts rise vs $BTC.

It's not that simple though.

Market cap groups (large vs mid) of alts rise at different times relative to the $BTC move. Evidence below...
2/ In the last 3 months Bitcoin found a local bottom at $3200, and has risen to $4100 twice.

While I wouldn't call either of the ~20 day swings a full cycle it does give very clear insight into how large cap vs mid cap alts react to Bitcoin rising & dropping.
3/ In the first push to 4100 Bitcoin went nearly vertical reached high in about 4 days.

-Large caps kept pace or outperformed $BTC
-Most mid caps/binance alts were sluggish, lagged $BTC and were down or flat

Compare % gain for $ETH vs 3 random mid caps during initial rise.
Read 9 tweets

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