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DK
Entrepreneur, Fund Manager, Ex-Consultant and Hobby Ice Hockey Player. Child of the Sun. Any opinions personal, never investment advice, sometimes parody
29 Dec 19
Follows & Unfollows - #FF & #UFF 2020

Isn’t Friday, but if you are in #crypto, want a balanced,well-informed view & are looking for accounts to follow,I suggest both a list of follows & mutes to avoid the cult.Opinion only! My suggestions:

#bitcoin $BTC #CT $crypto #blockchain
The Follows:

#CT accounts I genuinely respect or provide value mixed with some I do not agree with at all that are key to #bitcoin. Some will still spam you with typical propaganda from time to time, but at least they eat their own medicine and are undeniably core to $BTC
Read 8 tweets
9 Nov 19
1/ More and more I seem to get added to twitter lists called “#bitcoin skeptics” or similar. Perhaps I should explain a bit.

So for the record, I’d like to state a few things about #crypto, #altcoins, #tehter & $BTC from my POV:
2/ I am not a #bitcoin skeptic. I recognize the potential of a decentralized, immutable (by current tools and disregarding miner centralization) database. I am enthusiastic about seeing what it will do for us, such as preventing identity theft or authenticating assets.
3/ I detest easy answers to problems of today’s political & financial systems and have a strong impulse to mistrust consensus opinion & “religious” zeal. More than anything, I truly hate when people are taken advantage of due to levels of understanding or education.
Read 20 tweets
16 May 19
1/ A few observations on #bitcoin, #tether and #crypto regarding what happened in the last 30 days or so. $BTC $ETH
2/ Obviously we all saw that, despite the unwillingness of #tether to provide an audit, there now seems to be enough public or non-public information available to the NYAG for them to allege that $USDT were, at least for a time, not backed up with USD.
3/ Furthermore, the cited conversation between Oz and Merlin shows beyond reasonable doubt (to me) that the #bitfinex/#tether complex engaged in market manipulation to avoid what would be a black-swan event for them
Read 19 tweets
6 May 19
If I had to guess, my likelihood is 60/40 that the top of this run is in for #bitcoin. Always can be another squeeze up to the $6k area of course, but my personal opinion is that last move was caused by bots (and FOMO) blindly following what amounts to a bank run on #bitfinex
If you actually read the NY AG allegations and then drop the idea that this is just some crusade against #crypto from evil regulators but accept that they probably have something to back it up, coupled with missing audits from #tether it seems pretty obvious what happened:
#tether and #bfx are one firm. They printed $USDT without having the actual USD to back it up. Then they used these to buy $BTC and push up its price. As is to be expected, if you call the shots and know where price will go, you can profitably speculate.
Read 14 tweets
3 May 19
Brief reality check on what caused last 10 days of #bitcoin upside. Sure seems driven by #tether fear and people moving their money off #bitfinex $USDT (on a potentially bankrupt exchange) into $BTC and out to a safe place. Funds may not be #SAFU. Below #bfx to #bitstamp premium.
According to @thetokenanalyst, #bitfinex had net #bitcoin outflows of 112,500 $BTC since #tether news broke. That's 620m USD roughly. Assuming #bfx data accurate it would be entire traded volume in BTC to stablecoins since then. Bankrun in slow-motion with no one around noticing.
Further point on this - I have never seen positioning in #bitcoin on #bitmex be so Bullish (ie 1.7x Longs/Shorts) but at the same time seen mex futures in such strong backwardation (ie discount to present). Means market really wants $BTC now, but in three months - not so much.
Read 5 tweets