Nathaniel Whittemore Profile picture
Host @BreakdownNLW - macroeconomics, tectonic power shifts & #bitcoin NLW&CO Content Marketing: https://t.co/Wy5siP5aj5
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9 Jun
On this momentous night in #Bitcoin history, I’ve see a number of people ask “how could this possibly not cause the price to go up?”

My theory: individual events don’t impact bitcoin’s price, at least, not really and not alone.

🧵time!
Bitcoin markets seem driven by big, structural narratives that create raison d’etre for new entrants to participate.

We’ve been in one of those since March 2020: money-printer-go-brrr-means-inevitable-inflation-means-institutions-get in here.
Within the context of those meta narratives, individual events that validate and amplify the narrative can impact price - both by drawing new people in on the strength of the evidence for the narrative as well as by arming bulls and traders who are inclined to go long.
Read 21 tweets
8 Jun
Alright since no one else seems to have done it, here's the running thread of laser eyed #Bitcoin politicians from Central and South America 👇
He was joined by El Salvador's president of Congress
Read 13 tweets
4 Feb
This new crop of critics pointing to the history of technology to explain why #bitcoin will inevitably be disrupted by something newer have totally missed that the most powerful forces in social technologies are not product features, but *network effects*
“Hurrrr but MySpace and Facebook.”

Yeah, and it’s been 15+ years since Facebook won. It has 2,800,000,000 users. Do we really think that nothing technologically better has come along in 15 years?

No, it’s the network effects.
“But bitcoin isn’t a social technology!”

Money is first and FOREMOST a social technology. By definition money is irrelevant without networks of people to exchange it. We just happen to call these networks markets.
Read 5 tweets
31 Dec 20
THE 2020 YEAR IN #BITCOIN

Ah yes, New Year's Eve. A time to reflect, look forward, celebrate, and throwback Long Reads Sunday style with the BEST BITCOIN TWEETS OF 2020.

Strap TF in, it's time for a thread!

👇👇👇👇
2) Let's start by going back to February.

Even before the full impact of COVID-19 kicked in, bitcoiners were thinking big about the epoch shifts we were in the midst of.

3) When the markets DID start to finally react, bitcoiners were quick off the draw to point out that, whatever the risk the virus posed, the economic threat was significantly predetermined by fragility borne of decades of decisions.

Read 58 tweets
14 Aug 20
Belarus is the most interesting story people aren't paying attention to:

-26 year dictator arrests popular YouTuber who plans to run for prez
-YouTuber's wife runs on promise to hold real elections 6 months later, gets huge support
-Dictator claims to win 80% of vote...

(cont.)
-Massive demonstrations begin, not just in the capital but in 20+ cities around the country
-Police are INCREDIBLY brutal. 6000+ arrested. Widespread reports of torture. Horrifying audio evidence of torture all over the internet.
-Some police shown renouncing dictator.

(cont)
-Internet shut off for 4 days
-Only app even a little usable is Telegram, which says it activated "anti-censorship tools"
-The main TG channel coordinating efforts of ~2 million Belarusians was started as a music channel 5 years ago by a teenager and has 4 staff and no website
Read 4 tweets
10 Jul 20
Welcome to the Macro Media Index: The most important macro content for June 2020.

This was an INSANE month. Social unrest and market disconnect. The Hertz bankruptcy bet.

If you want to understand the macroeconomic story right now, this thread is for you.

Let's dive in! 🧵👇
2/ A quick note! If you’re more of the audio type, I did this best of macro content as a @BreakdownNLW podcast as well.

Check it out on @coindesk coindesk.com/inequality-soc…

Or subscribe and listen directly: nlwcrypto.libsyn.com/social-chaos-a…
3/ The month kicked off with the realization - a stunning one to many to be sure - that not only had the market come screaming back after March lows - it had done so with record vigor.
Read 36 tweets
20 May 20
As if #bitcoin didn't have so much else going for it right now, the absolute fucking *intrigue* of the living history of it is insane.
Read 4 tweets
3 Mar 20
Do you use Discord?
For science...

Do you use Telegram?
Screw it let's round this thing out.

Do you use Reddit for bitcoin/crypto?
Read 4 tweets
19 Feb 20
@alexisohanian 1/ Okay, so, let's dive in.

One imp thing is that there is growing specialization based on focus, which I think you could roughly divide into:

1. Bitcoin only
2. News/Analysis
3. General Interest Interview
4. Investor/Institutional
5. Technically-oriented
6. Idea adjacent
@alexisohanian 2/ First up, we have our bitcoin-only's

@WhatBitcoinDid w @PeterMcCormack
@TFTC21 w @MartyBent @matt_odell
@stephanlivera
@BitcoinMagazine podcast

+ a number of others
@alexisohanian @WhatBitcoinDid @PeterMcCormack @TFTC21 @MartyBent @matt_odell @stephanlivera @BitcoinMagazine 3/ Next, our news/analysis programs

Actually a surprisingly newer category

#TheBreakdown w me (dist on @CoinDeskPodcast)
Markets Daily w @GamerAndy on @CoinDeskPodcast
@laurashin has Unconfirmed and Unchained, w/ Unconfirmed being more of the news react pod
Read 10 tweets
9 Feb 20
LONG READS SUNDAY #82

5 themes that defined the week:

The sociological impact of Coronavirus
Crypto VC and M&A
$1B locked in DeFi
The Fed joins the game of coins
@HesterPeirce proposes safe harbor

Plus, why psychological barriers like $10k #BTC matter lrs.substack.com/p/long-reads-s…
@HesterPeirce A few of my favorite threads:

@Melt_Dem on central bank digital currencies
@brian_armstrong on what happens when payments become as cheap and ubiquitous as messaging
Read 5 tweets
31 Jan 20
Live footage of 70%+ of Bitcoin Twitter conversations for the next 3 months.
Massive h/t to @joonian for surfacing this gem
Wait fixed it cc @nic__carter
Read 4 tweets
31 Jan 20
Everyone is going to be asking today "What are Brexit's implications for [ X ]?"

So I'll do it for bitcoin and the crypto industry.

Now that Brexit is happening, what are the implications for the European/British crypto industry (if any)?
Cc'ing folks who may have a perspective - feel free to tag others @PeterMcCormack @sytaylor @jamie247 @richardmuirhead @joonian

Also, have you seen anything written about this?
Read 4 tweets
27 Jan 20
Long Reads Sunday #80

The second-edition of email-first LRS, written with the backdrop of Davos and the specter of bankcoins. Click to get the full issue or scroll down for the Top 5 highlights.

lrs.substack.com/p/long-reads-s…
Honorable mention: Schnorr/Taproot have moved to the BIP stage, with important privacy implications. The only reason this isn't higher on the list is that I suspect we'll be talking about it a lot more in the weeks to come.
🤬#5 - Smart disagreement is one of the most important parts of public discourse, but we waste a lot of time on bullshit. If you think debate is important but bad arguments drive you nuts, you’ll love this guide on how NOT to critique Ethereum by @DZack23 blog.theabacus.io/how-not-to-cri…
Read 9 tweets
20 Jan 20
I think that today's Breakdown is going to look at the bitcoin and crypto conversation around the World Economic Forum, but it actually brings up sort of an important question:

Should this industry even care about what goes on in Davos? Why or why not?
Adding a poll for those who have an opinion but not enough to want to debate it. 🤣 Appreciate RTs for signal.

Should bitcoin/crypto space care about the convos at the WEF?

1. Yes, like it or not, they're power brokers
2. No, we're trying to build something new
3. Not sure
Read 6 tweets
20 Jan 20
LONG READS SUNDAY 79

Twitter has become less & less hospitable for long-form content, so after much contemplation, LRS is moving to email-only mode. I'll still post the top 5 best pieces of content here, but for the rest, it's a subscribe.

For now, let's dive into the top 5!
TL;DR on the Week

1. Top-level discussion was all about the price action
2. A persistent sub-theme was questions in the battle between privacy and surveillance
3. Macro themes set the stage for Davos discussions this coming week.

Now let's dive in to the Top 5.
Honorable Mention: "Internet of Beefs" by @vgr

Has the internet become inhospitable for anything but tribal warfare? It’s hard not to see the relevance to the crypto sphere, and this is a piece I think we're going to debate for some time.

ribbonfarm.com/2020/01/16/the…
Read 10 tweets
15 Jan 20
What bitcoin or crypto newsletters do you subscribe to and why?

Which newsletters do you pay for (crypto or otherwise) and why?
My list (always in flux)
@MartyBent
OTC - @APompliano
The Defiant - @CamiRusso
Unqualified Opinions - @MessariCrypto
@stratechery
@coinmetrics
Our Network - @spencernoon
I love what @RyanSAdams is doing with guests on Bankless but haven't paid yet
@MatiGreenspan
Read 5 tweets
14 Jan 20
Between the UK left’s election loss and the reinstatement of Away’s CEO, there is a growing narrative that Twitter =/ reality.

How does non-Twitter crypto differ from Crypto Twitter? Or does the early adopter nature of this space mean they’re closer?
Read 4 tweets
12 Jan 20
Long Reads Sunday #78.

TL;DR: A stage setting week where all the narratives competing for our attention in 2020:

China & govt digital currencies
Global regulatory arbitrage
Bitcoin halvening + bitcoin as a macro asset
Tokenized securities

Strap in, it's long reads time!
2/ The geopolitical situation underlying crypto this week was Iran’s missile response. As news broke, @travis_kling pointed out the price of bitcoin moving in parallel w gold & crude, as it had since the announcement of the killing of Suleimani.
3/ The next day, I had @Travis_kling join me on The Breakdown to discuss what this price action suggests in the ongoing debate about to what extent bitcoin is acting like a safe haven in times of geopolitical turbulence. coindesk.com/travis-kling-o…
Read 27 tweets
1 Jan 20
Long Reads Sunday #77 - BEST OF 2019 EDITION

This is the final recap of a year that saw IEOs, SEC action, Libra, gov’t digital currency efforts, DeFi, and so much more. Let’s take a trip back through LRS world, week by week throughout 2019!
A note on reading this: each week, I’ll post the week and LRS # along with a few words on the vibe or key events of the week, plus the highlight content. The content was chosen based on how clicked it was + my personal bias!
[LRS28 - Jan 6] Like any year, 2019 kicked off with a bevy of prediction posts, and among all of them it was @arjunblj that stood out. What’s notable looking back is how much crypto black swan events like Libra just weren’t on the horizon medium.com/@arjunblj/cryp…
Read 71 tweets
30 Dec 19
The Breakdown podcast is right smack in the middle of a set of killer end of 2019 interviews. I asked each guest two questions:

1) What was the most important narrative of 2019?
2) What's one prediction for 2020?

The answers so far below 👇
First, @PeterMcCormack discussed the growth in global discontent (which, incidentally inspired him to launch Defiance) and predicted a continued bloodletting among non-BTC cryptoassets next year. plnk.to/nlw/e/10004605…
Next up, @Melt_Dem argued that the emergence of central bank digital currencies was the biggest big deal of 2019. When it comes to 2020, the variety of new financial products around bitcoin are poised to make this halvening extra extra. plnk.to/nlw/e/10004606…
Read 7 tweets
22 Dec 19
LONG READS SUNDAY #76

THE ULTIMATE GUIDE TO BITCOIN + CRYPTO 2019 RECAPS and 2020 PREDICTIONS.

You asked for it, so here it is - all of the best insights on the year that was and the year to come. Strap in team, this is going to be a good one!
2/ Let’s kick it off with the first (and longest!) piece from this year, @MessariCrypto’s “Crypto Theses for 2020” - an 8-day fever dream from @twobitidiot himself covering just about every aspect of the industry.
3/ Even before you dive in, you can breeze through the 100+ comments to see the sort of discussion Ryan triggered. See for example, this conversation about what the most important narrative is for crypto right now. (Spoiler alert: ‘reinventing finance’)
Read 51 tweets