Discover and read the best of Twitter Threads about #bitcoin

Most recents (24)

1/ At the start of 2019 #bitcoin’s price action looked like it could mirror 2015, but has since switched to feel more like 2016.

As a foreshadowing, below is a graph showing the correlation between $BTC’s price and China's yuan ($CNY) in 2016.

Article: washingtonpost.com/news/wonk/wp/2…
2/ It was remarkable to watch $BTC & $CNY dance in 2016.

Sometimes a #bitcoin rally preceded a CNY devaluation, as shown in green ovals below (presumably Chinese insiders stockpiling BTC before PBOC's action)

Other times bitcoin would show sustained strength post yuan weakness
3/ Turning to what this can teach us about 2019, the first thing to recognize is #bitcoin's rally from ~$3K to now ~$9K has not been *majority* driven by crypto's fundamentals (not endogenous).
Read 15 tweets
Bitcoin Mining: A Comprehensive Thread

How mining rewards are supposed to work.

Y=MX+B

Where:

Y is the Reward
M is the Fee
X is the Unit Time
B is the Subsidy

#Bitcoin
#Blockchain
#Business
#Economics
#GameTheory
#SmallWorldNetwork
#BitcoinSV
#BSV
#Fintech
#Capitalism
1) 50 #BSV per Block.
2) 25 #BSV per Block.
Read 30 tweets
1/ 6 PREDICTIONS about what @Facebook's #cryptocurrency means. Grab the popcorn bc I analyzed publicly disclosed info to make 6 predictions, of which 2 will be controversial (#2 and #6). @ForbesCrypto #Libra #bitcoin forbes.com/sites/caitlinl…
2/ First prediction: @Facebook's #stablecoin will be a positive force in developing countries. Second: @Facebook will pay #interest to users of its #cryptocurrency, which will eventually lead to populist calls to repeal subsidies at the heart of the US banking system.
3/ It's true that #stablecoin issuers generally pocket the float on the assets backing the coins, but I go out on a limb & predict there's no way @Facebook will be able to pocket these big profits w/o sharing them with users. To be clear I haven't seen @Facebook disclose this.
Read 11 tweets
1) @TuurDemeester articulated 4 concerns regarding the #bitcoin stock-to-flow model. Assuming more people have the same concerns, I will answer them one by one in the thread below.
2) Lost coins reduce stock but have not much impact on S2F model (just changes parameters of the formula a bit). 4 ways to adjust for lost coins:
- cut first 1mln coins
- no adjustment
- cut even % lost
- cut first 1 mln + even %
There is not much impact (see charts).
3) BTC production is indeed going towards zero, implying infinite value. But this is a theoretical issue, practically after 3 more halvings (2020,2024,2028), BTC market value could be as high as $100trn (if S2F still valid) .. USD value will be affected: hyperbitcoinization.
Read 6 tweets
ATTN: There is an organized crime group actively targeting members of the #cryptocurrency industry. You MUST remove mobile phone numbers from your personal email, work email & exchange/bank account recovery processes NOW! 1/ #crypto #bitcoin
They are visiting US-based phone carrier stores with fake IDs and personal information (likely from other data breaches). 2/
They are telling the stores they lost their phones and are obtaining a new SIM for the victims / targets phone numbers. These accounts even have “extra security” enabled. 3/
Read 8 tweets
0/Our social contract with money has been expressly mutated to favor political and economic insiders. Central banks lead the way and have vast control over our livelihood through a debt addiction mechanism. #bitcoin offers a path out ⤵️
1/The Federal Reserve with the blessing of the US Government has pushed the Federal Reserve Note (FRN) condemning citizens across the globe to lifelong servitude and crippling debt. Fiat money is an exquisitely constructed wealth stealth transfer medium.
2/Est in 1913, as a private bank cartel, the Fed was modeled after European CBs. The Fed’s flagship product is the FRN. It’s a debt instrument that supplanted gold backed dollars, "secured" now by the hard work of ordinary citizens.
Read 21 tweets
1/ How many times did you have to hear about #Bitcoin before you were ready to acquire some or, at least, explore its significance? This number of "touchpoints" is an important factor in the process of Bitcoin's monetization.

Let's explore the idea of touchpoints in a thread: 👇
2/ We now know that the process of #Bitcoin's monetization is occurring in a series of hype cycles where the magnitude of each cycle is defined by the people "reachable" in that cycle. Which people defined the prior cycles? 👇

3/ The first hype cycle in the #Bitcoin market was dominated by cryptographers and cypherpunks who were already primed to understand the importance of Satoshi Nakamoto's groundbreaking invention.
Read 13 tweets
1/ The reason people are confused about what's going on and can't find the trail is simply because @TheBlueMatt is being dramatic. I wasn't going respond directly because it's so stupid, but it would be worse to not clarify and invite speculation. 🤦‍♂️ #BitcoinDrama
2/ By making a massive deal out of blocking me (Matt, you couldn’t just write it, but had to take a screenshot of Twitter UI showing the block - which is literally TEXT in a blue bar), people are wondering if I kicked his dog or worse. Now there’s a CoinDesk article. Geez.
3/ The starting point was this thread from @nwoodfine . TL;DR: #Bitcoin is very important, attracts scammers and frauds, & a culture has evolved to defend against bad actors / attacks. He went on to say if you can't accept that culture then too bad.
Read 15 tweets
1/ Trading/Investing observations/education from TINA: I happen to know a thing or two about TA, having traded for many years. Let me pass along two important lessons in a bull market, which I believe #Bitcoin has likely resumed.
2/ I have heard some guys talking about their opinions on how #bitcoin ought to trade. How it is "over bought" and has to drop $X amount. 1. Bull markets can stay over bought for long periods of time. Just as bear markets can stay over sold for long periods of time.
3/ 2. Markets can correct over boughtness by price or by time. There is not "requirement" how a correction may occur. When you listen to either young or old Technicians please remember those two points when thinking about their advice. This is really for #hodlers who are
Read 7 tweets
$BTC has been pointing to this wave happening for months
Step by step it gave clues if you payed attention
Lets Review

Clue #1 - Market found support on the weekly 200 MA after a 80%+ decline from ATH
Clue #2 -
Harmonic Reversal Pattern prints on the Daily
$BTC
Clue #3
50 EMA turns to support on the Daily
$BTC
Read 11 tweets
$BTC vs $USD pairs

How to play?

BTC Up-Trend = Play USD Pairs

BTC Down Trend = Play BTC Pairs

BTC sideways = Play Both

BTC indecisive = Be selective & be prepared to jump either ways on short notice

This is relevant if #Bitcoin Dominance is high & rising up

Thread / 2
If #Bitcoin dominance is diminishing & on its way down, we can play:

$BTC Up-Trend = Up-Trending ALTs with stronger trends than BTC can offer higher profits in USD terms. You get the benefit from BTC up trend + ALTs uptrend

Thread / 3
If #Bitcoin dominance is diminishing

#BTC down trend = Play BTC paired ALTs with strong up-trends. This will help you to beat negative BTC returns & accumulate more #Bitcoins

#BTC sideways = Play whatever is trending

#BTC indecisive = Be prepared to jump either ways

Thread/4
Read 9 tweets
‼️#BCH /#bcash was hit by 51% attack from just 2 miners, BTC.TOP & BTC.com
- & no one seems to be talking about it. 🤨

Thread 👇🏻

1/ What I've gathered from loose details:
First, there was an unintentional split with the recent #BCH "upgrade."
2/
Since the original split in 2017, there has been a significant number of coins accidentally sent to "anyone can spend" addresses (due to tx compatibility of sigs, but no #SegWit on #BCH), or possibly they've been replayed from #Bitcoin onto the #BCH network.
3/
Because of this, tons of coins (#BCH) would essentially be "up for grabs." However, devs implemented a protocol rule called CLEANSTACK, making P2SH coins unspendable.

This was to be removed with May 15 fork, basically handing the coins to miners.
github.com/bitcoincashorg…
Read 15 tweets
#Holochain thread: Let's learn about @H_O_L_O_ and @holochain

In the world of blockchains where everyone is fighting for a better consensus algorithm and higher TPS, Holochain brings about a new paradigm, there is no global consensus required in the Holochain architecture.
Holochain uses an Agent Centric approach rather than a Data Centric approach. Here’s why you should really pay attention. Part of a much bigger project: Metacurrency Project - (metacurrency.org) (started in 2004) and Ceptr - (ceptr.org) (started in 2006)
Holochain was probably the only ICO which conducted benchmarking tests to decide what their token should be fairly priced at.

Read 15 tweets
1/ Here is the @crypto_voices 2019 Q1 release on the global monetary base. This is the only comparable money supply with Bitcoin's 21 million. #Bitcoin is currently the 12th largest money in the world. To dig deeper on what it all means, follow on below. 👇This is installment #4.
2/ Gold & silver is base money of the past. Government fiat is base money today. It comprises both physical cash… and a digital cash component! Bitcoin may be base money of the future. Before we get to the charts, it's important to clarify a few common misconceptions in money.
3/ The first is everyone looking to value Bitcoin always jumps to the "narrow" or "broad" money supplies (M1/M2/M3). This is incorrect. The reason is those money supplies represent "claims" on something else. What is that something else? Answer: the base money supply!!
Read 50 tweets
1/ Listening to @PeterMcCormack's #bitcoin podcasts. Technical discussions are great, but damn does it make me cringe when guys like @rogerkver or whoever else living in their ivory towers start talking about how Bitcoin is for the "unbanked" in the 3rd world. They know nothing.
2/ The level of ignorance about this is unbelievable, but what's more shocking is their confidence that they know what's best for "these people living in Uganda or the Philippines who can't afford to spend bitcoin on the "main chain" because muh fees." This is laughable.
3/ NO, they will not choose BCH or whatever crypto over BTC because the fees are lower. Literally nobody cares about that shit. You guys need to stop using this narrative. It's condescending and ignorant. #Bitcoin is a tool that will be used for the benefit of the world, yes, but
Read 15 tweets
0/Bitcoin vs Gold (a thread).

TLDR; Bitcoin is better money.
#bitcoin #gold
1/It is no wonder gold became hard money. It’s rare, difficult to mine, has utility, fungible, divisible among others. It has been used as money for thousands of years.
2/Though govts have corrupted its monetary use through centralization and price manipulation, gold is still believed to be a safe haven asset. In fact, gold’s price is approaching a 600 year high.
Read 25 tweets
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
1/ Five years from now it will be widely recognized that the major financial players in the "cryptocurrency space" (mostly exchanges) made a strategic error in pursuing a horizontal business opportunity rather than a vertical one.

A thread 👇
2/ The simplest and most obvious profit opportunity for exchanges today is to list as many cryptocurrencies as possible (the "horizontal" strategy) and collect fees on the trading that occurs between them. This naive strategy is a mistake in the long term.
3/ There is an opportunity cost to supporting many (sometimes hundreds of) cryptocurrencies. Engineering time needs to be devoted to making sure each project is free of bugs & trojan horses, isn't prone to easy 51% attacks and in dealing with idiosyncratic blockchain APIs.
Read 10 tweets
1/ May 10th, 2019, marked the first time in 577 consecutive days that bitcoin's 200 Day Moving Average (DMA) has recently started trending upward.

This has massive implications for a bull run. Let's look at why.

(thread) #crypto #BTC
2/ First, a moving average is a very simple indicator for identifying an asset's direction, up or down. The 200 DMA, given its large number of inputs in determining the average (200), tends to confirm reversals and broader trend direction.
3/ For #bitcoin, the 1st time we experienced a rise in the 200 DMA was on June 6, 2012. This rise lasted 761 consecutive days and the price appreciated 23,308%. The period ended on June 6, 2014, when the 200 DMA began sloping down (note the matching dates!)
Read 7 tweets
1/ #bitcoin moves, and of course the world wants to know why 🤷🏽‍♀️

expanding on my thoughts shared with @MelissaLeeCNBC and crew @CNBCFastMoney👇
2/ let’s start with what’s changed since my last visit during the CRYPTO CRISIS

✅ legacy finance players are legitimizing the asset class
✅ new consumer touch points are expanding access
✅ new platforms and services are enabling institutional investment
3/ real talk, in the last 6 mos:
- @NYSE @Bakkt announced $182.5M raise for bitcoin exchange, clearing & custody services
- @DigitalAssets bitcoin trading & custody set for launch
- @TDAmeritrade launching bitcoin futures

not to mention ppl like @jack are #stackingsats
Read 8 tweets
1/Why does #bitcoin matter? Fiat has distorted nearly every facet of our lives through an economic construct designed to steal wealth and establish a citizenry entirely dependent on the state. Read on ⤵️
2/Today’s money is debt. It’s credit issued and reissued by central and retail banks. Established in 1913, the Federal Reserve set in motion a series of policies which led to eliminating the fiscal constraints of gold backed money.
3/Fully severing the link took 60 years. In 1971 fiat took over and in a matter of 40 years has completely transformed and corrupted money. We are in unprecedented territory.
Read 19 tweets
ALTs update

#USD paired ALTs are pumping, mostly thx to $BTC pump against #USD

$BTC paired ALTs continued to struggle but are showing bottoming process for last few days

Here is how to play ALTs:

Check the Thread /2
If you are into $BTC you may flip your #BTC position for ALTs for next few days if #Bitcoin struggles against key resistance & can’t post higher highs in next few days

Which ALTs to choose ?

2 setups

Trend Continuation
Trend Reversal

I prefer 1st one, let’s discuss both /3
Trend Continuation is relevant for those ALTs which are still trending up against $BTC

There aren’t many, but handful of them like #LTC #BNB are taking a breather against $BTC But May find a support & eventually pump again

What about Trend Reversal? /4
Read 9 tweets
Bitstamp hit close enough to $8,300-8,400 at $8,167. This rally looks done once this 5min blue rising wedge broke down as advised to members. A crash from here is under way to $6,100-5,950 and $5,700-5,500/$5,300
#Bitcoin #Crypto $BTCUSD $BTC
Note: A small bearish H&S could form here with a last shoulder at $7,970 before the crash. If anything changes will advise.
I guess I will eat my words here. Previous top held as support at $7,500-7,400 and the rising wedge has been extended into a bigger one! Retest of the $8,000s coming soon #Bitcoin #Crypto $BTCUSD
Read 5 tweets

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