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Bitcoiner @AnselLindner
, 6 tweets, 2 min read Read on Twitter
#Bitcoin's off chain layer 2 is what makes it adaptable to nearly anything the free market can think of.

Bitcoin's decentralization on layer 1 is what ensures it's a "free" market.
Altcoins and ICO tokens are relatively centralized, and as a result are less free and adaptable.
Thanks to #bitcoin's relative decentralization and resulting freedom, its adoption is higher and it's ecosystem more vibrant.
#Bitcoin represents, not only the free market solution, but the free market _for_ solutions to many problems. It's a "free market platform", >> a "smart contract platform".
No altcoin can become as decentralized as bitcoin, because to pick a direction or a strategy to that end it must first be centralized.
#Bitcoin's mind share and market share vs fiat will continue to grow. It will adapt and learn. Bitcoin is the free market. There's no stopping the free market.
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More from @AnselLindner see all

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A real "dApp" is a very rare thing. So rare they can easily have their own names, like Bitcoin and Lightning Network.
As a idea, apps that label themselves dapps, is pretty funny.
Mainly, they call themselves dapps to excuse their lack of users and to confuse their investors. There are no dapps on ethereum, except maybe the erc20 contract itself I guess.
Read 3 tweets
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Can the altcoins handle the coming pain?

How many holders of last resort do they have?
Altcoins have built their networks on marketing and false narratives. Reinflating an altcoin bubble is without deliverables is going to be impossible.
Bitcoin delivers its value prop everyday. It delivers more valuable innovation all the time. It's network effects will continue expanding, while altcoins' will shrink to nothing.
Read 3 tweets
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The term "cryptoassets" (conveniently the title of Chris's book) is hugely detrimental to investors' understanding of digital scarcity and sustainable comp advs in this tech.

The term scam, however, is *under used*. Ripple is the #2 coin by market cap for God's sake.
#bitcoin
The entire altcoin complex would benefit if people were less forgiving of the 99% that are outright scams.

Of course, the line we are told to toe (by scammers) is to ignore the scams, be nicer, let the scams run their courses naturally. Lol
It feels very similar to the coinbase "education" initiative, that just fills your head with buzzwords like blockchain and cryptoassets, then they try to sell you their scams coins, that have no competitive ad except for pumpers and shills.
Read 5 tweets

Related threads

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#bitcoin

This is how I like to scalp.

Identify zones. Buy break/retest of zone.

Sell at next zone up.

Quick in and out.
#Bitcoin

Updated scalp levels
#bitcoin

Still playing inside the range.
Read 3 tweets
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#Bitcoin is bigger than all the companies that try to capitalise on its #blockchain #technology.

#Bitcoin + #IoT + #DeepLearning will transform the global political & financial system without permission.

#blockchain #LightningNetwork #fintech #blockchain #disruptiveinnovation
#Decentralisation will take time.

#Bitcoin is decentralised although still attached to a centralised world.

⚠️ This is the alpha.
⚠️ #LightningNetwork is the beta.
If you want to change society you need to change the social paradigm, or offer an incentive greater than money to discourage greed. #bitcoin #LightningNetwork ⚡️
Read 10 tweets
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#Bitcoin isn't just mathematically secure, it's thermodynamically secure.

Bitcoin's cryptography is based off of computational hardness assumptions and the complexity of brute force attacks.

We can compute the minimum energy / time needed to attack Bitcoin.

1/
For eg, to break preimage resistance of sha256, we must compute 2^256 hashes.

BTC has 50M TH/s hashpower. It would take
2^256 / (50 * 10^6 * 10^12) s
= 2^256 / (5 * 10^18) s
> 2^256 / (2^3 * 2^60) s
= 2^256 / 2^63 a
= 2^193 seconds
> 10^40 * age of universe
To break it.

2/
Antminer S9 does 13TH/s at 1300W. That's 10^9 hashes / Joule.

The sun emits ~4 * 10^26 W in energy. That's enough to power 4 * 10^35 hashes / s.

2^256 / ( 4 * 10^35) s
> 2^256 / 2^122 s
= 2^134 s
= 10^22 * age of universe

The sun can't even break sha256.

3/3
Read 3 tweets
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#Bitcoin and fractional reserve banking (FRB). Thread 👇

Ok, this is going to be a controversial one. I've avoided the topic for a long time, but since there are many important experts -- ppl that I truly admire -- discussing the subject, I can no longer ignore it.
1/ Since the @Bakkt announcement, the issue has gained steam, especially through the works of @CaitlinLong_ (who's a real champion of #Bitcoin and liberty btw) and her concerns on WallSt's financialization of crypto. B/c of that, FRB is now inserted frequently into debates.
2/ As a background for laymen, FRB is considered THE BIG CONTENTIOUS & UNRESOLVED DEBATE within adherents of the so-called Austrian School of Economics. Rothbardians tend to think it's fraudulent, inflationary and causes economic cycles. They are the proponents of 100% reserves.
Read 33 tweets
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#bitcoin

Levels.
#bitcoin

Still stuck in this range.

Tried to break out but rejected right at the top.

The longer it's stuck in this zone the more likely it will test the bottom.
#bitcoin

Standard S/R flip.
Read 5 tweets
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#Bitcoin $BTC

I want to go ahead and talk about logic for this rally.

1. In a bear market, any pump would be to dump harder, which has been the case throughout this past year. All of the past rallies were achieved via Bart patterns, signally a lack of real buying volume.
However, we can clearly see that this most recent rally was achieved via pump + organic buying volume. We had consolidation instead of retrace throughout the rally, price moves that mirror moves of 2017.

So why are volumes coming back?
Without change in fundamentals, any serious pump would be to liberate trapped higher-up positions and a colossal waste of money for the bulls. Bulls won't be stupid enough to blast through many critical resistances allowing higher-up positions to exit.
Read 4 tweets

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