Discover and read the best of Twitter Threads about #crypto

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
The Chainlink / Facebook Connection
Thread including all things Facebook blockchain, GlobalCoin / Project Libra / stablecoin, and key employees (incl. dates & references) + Chainlink breadcrumbs.
#GlobalCoin #ProjectLibra #Libra #Blockchain #Crypto #Chainlink #4IR #Facebook $LINK
January 4, 2018
Mark Zuckerberg on "fixing" @Facebook and working towards decentralization facebook.com/zuck/posts/101…

#GlobalCoin #ProjectLibra #Libra #Blockchain #Crypto #Chainlink #4IR $FB $LINK #Facebook #Decentralization
May 8, 2018
After four years at the helm of @messenger , @davidmarcus will be leaving the team to lead a small group of @Facebook employees to explore what blockchain technologies can do for the social media giant. facebook.com/davidm/posts/1…

#Facebook #Blockchain #GlobalCoin
Read 25 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
🚨#India #Crypto #ban #regulation🚨THREAD:

Imp pts for every observer in India/abroad in short clips:

Part 1 - Analyzing Leaked docs

1. Pg cites fine or 1-10 yrs for SPECIFIC activities
2. No definitions! Draft clearly not ready for legislation (1/n)
Part 2 - Understand the policy process

1. Draft doesnt = ban, until it clears Finance Minister & Parliament vote.

2. Public consultation NOT mandatory. Ask for it.

3. WRITE (>tweet) to folks mentioned in the vid

#India #Crypto #ban #regulation (2/n)
Part 3: Understand the existing baseline in India

Esp intl folks @PeterMcCormack

- Instant payments/settlement already exist
- Free/mobile banking already exist
- Crypto must solve the right probs from a govts perspective

#India #Crypto #ban #regulation
Read 4 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
$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
#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/ 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/ 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
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
Here's the cycle:

$BTC rallies hard, majority of "alts" drop as BTC is the main liquidity provider to #crypto (right now) and no one wants to sell BTC.

Value of "alts" in *BTC terms* then drops until whales choose to cycle into "alts." Then...
2/ Whales cycle from $BTC into the "alts" that're depressed (pick your alt).

Those "alts" rally harder than BTC did because they are higher risk, gaining in *BTC terms.*

The whales can then cash their "alts" out for more BTC than they started with. And so they "make BTC" :-)
3/ BTC is the market beta of #crypto.

Every other #cryptoasset is higher beta than it, meaning it'll move more to the downside (when people are panicking) and also more to the upside (when people are ebullient).
Read 7 tweets
1/ Sharing slides from this morning's #Fluidity2019 talk, which for me represented the start of Blockchain Week(s) in NYC.
2/ The market is our best tool for quantifying and distilling expectation about #crypto's future.
3/ Given expectation is inherently about the *future,* it is bound to be driven by human emotion about the unknown.

(overly optimistic in bull markets, overly pessimistic in bear markets)
Read 20 tweets
@el33th4xor caught this. i'm going to break it down in a long, probably painful THREAD.
FinCEN issues, then maybe retracts, 30 pages of guidance that is stated to be a reiteration & consolidation of prior guidance "rules and interpretations to other common business models involving CVC (convertible virtual currency) engaging in the same ...activity"
6 sections: 1. key concepts within the context of the guidance.
2 consolidates & explains current FinCEN regulations, previous
administrative rulings, & guidance involving the regulation of money transmission under the BSA. 3. summarizes FinCEN’s 2013 guidance
Read 89 tweets
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
1/ Per request, here are my thoughts on #ETH (not investment advice).

Short story: looks higher from here.

(thread)
2/ #ETHUSD is at an immediate term inflection point as it is hitting trendline resistance and fib resistance right around $170.
3/ However, the volume has been very low (this is @Coinbase in the chart); daily volume has been below the 50-day moving average for 7 straight sessions.
Read 7 tweets
#Bitcoin Short-Squeeze Warning:
The chances of a short-squeeze is relatively high. It also looks like the longer we remain in sideways above $5,200 the more likely the shorts will get as dangerously high as the August or December 2018 squeezes tradingview.com/x/PTqtC5iX $BTCUSD $BTC
Bitcoin Bitfinex shorts still adding up and the Premium has reached an all time high today. Time to watch closely: We either pull back hard from $5,800s to $5,300 or experience the squeeze by end of day tomorrow #Bitcoin #Bitfinex #Tether $USDT $BTCUSD
tradingview.com/x/K8aSuor9
The short-squeeze played out nicely. However, shorts remain quite high which means we will be heading higher over the weekend to $6,700-6,800 on Bitfinex or $6,400-6,500 Bitstamp before a major pull back. tradingview.com/x/brmTYXwp #Bitcoin #Bitfinex $BTCUSD $BTC #Crypto
Read 5 tweets
0/🔹Put together a 22-part thread covering the past 24 hours from the world of crypto. Hope you learn a thing or two!
1/ 👎 Mike Novogratz's Galaxy Digital Holdings posted a $97M loss in Q4, making it $272.7M in the red after a year in operation. The majority of this loss was attributable to the sale of #crypto assets. theblockcrypto.com/2019/04/29/gal…
2/ 🔗 Two data-focussed crypto projects today announced integration with leading decentralized oracle network @Chainlink [ $LINK ]: @OceanProtocol [ $OCEAN ] and @Streamr [ $DATA ]. Both will now be able to securely access off-chain information.
Read 24 tweets
1/ Bankers, politicians, noble laureates, public intellectuals and economic experts are the modern-day Luddites in suits.

Contrary to modern belief, the Luddites did not oppose to upcoming technology altogether. They were rather quite specific in their disapproval:
2/ Modern-day Luddites reject in a similar fashion to the new world of #Crypto by calling for “#Blockchain, not #bitcoin” or more generally “Digital, not Crypto”. They consider Bitcoin “a fraudulent and deceitful manner to get around standard practices.
3/ They just want blockchain projects that “make high-quality goods” and they want these “blockchain projects to be run by people, who apply with regulation and industry standards”.
Read 10 tweets
1/ STUNNED but not surprised by #Bitfinex #Tether news out of #NewYork. I'll let other cryptolawyers analyze it but here are two macro thoughts: (1) There's a big double standard here. (2) Exchanges, clean up your act--cryptographically prove your solvency
2/ First, the double-standard. Why didn't the NY AG throw the Martin Act at Merrill Lynch for doing something actually quite similar from 2009-12? Seriously, why the double standard??? Quoting the SEC's press release here: sec.gov/news/pressrele…
3/ "The maneuver freed up billions of dollars per week from 2009-12 that Merrill Lynch used to finance its own trading activities. Had Merrill Lynch failed in the midst of these trades, the firm’s customers would have been exposed to a massive shortfall in the reserve account."
Read 8 tweets
1/ Today's breakout in #bitcoin price feels to me to be very real. I used bitcoin futures data to come to my decision. Have a look.

(Thread)

#crypto #xbtusd #bitmex
2/ The following chart is the past 36 hours of a 1-minute snapshot of the price of BTC (.BXBT, Orange Line) and the delta (Blue Line) between it and the Bitcoin futures contract that expires on September 27 2019 (XBTU19). The right side shows a huge drop in the delta, but why?
3/ If we zoom in, we can see a huge swing in the delta from +13.19 to -31.68 in just 2 minutes. This was when BTC pumped to $5391.68, but the delta was quite negative, putting the futures in a state of backwardation.
Read 9 tweets
@nic__carter 1/ TOUR-DE-FORCE, *MUST READ* from @nic_carter. Well-researched & well-reasoned. I don't agree w/ all of it, but it's a timely call to arms to #bitcoin intermediaries to PROVE YOUR SOLVENCY cryptograhpically. Thanks for naming names, Nic. I wasn't aware that one exchange has...
@nic__carter @nic_carter 2/ ...routinely issued #ProofofSolvency reports (Coinfloor). Your point is well-taken that Coinfloor puts its better-capitalized competitors to shame--bc when an intermediary holds 100% reserves, that means it is SOLVENT & it doesn't really matter how well-capitalized it is. I'd
@nic__carter @nic_carter 3/ ...rather trade via a small but provably solvent counterparty than a big but insolvent one any day. @nic__carter's chart is worth studying in detail & it shows what everyone should realize--that we're in a debtor/creditor relationship with #crypto exchanges when they take...
Read 16 tweets
London On Track To Become #Global #Fintech #Hub
by @thefintechtimes

🦄#Unicorn=a #firm with >$1 billion #market #capitalisation
🦄29 fintech unicorns worldwide
🦄9 in #SanFrancisco AND 7 in #London
Thread👇
2018 #income #growth increase:
💪£77.1m -> £177.6m #revenue
☝️2018 #job creation : 61% increase
☝️#Salary inflations for #IT pros: 6-8%

#ai #artificialintelligence #crypto
☝️#EU #venturecapital:
1. #London 39%
2. #Berlin 21%
3. #Paris 18%
4. #Stockholm 5%
5. #Barcelona 4%
6. #Amsterdam 4%
7. #Zurich 3%
8. #Copenhagen 2%
9. #Dublin 2%
Read 5 tweets
1/ Today marks the day that changed how I trade forever. I was following tradingview "gurus" who were very popular in Q1 2018 and insisting we were going to HHs.

I went all-in on shorting 6k support. Like the day before the April face melting pump.

Warning: this thread is long.
2/ I lost $10k in one fell swoop, which was ~80% of my capital (obvs, I'm not super rich)

My roommate, who was also trading at the time, was at a $3-4k loss.

This is from a convo with a friend (pro trader) who was concerned for me after I got liquidated.
3/ To say it was a crippling moment of despair would be a severe understatement. It was BAD.

It took me a full week to process what just happened.

Weirdly and thankfully, the liquidation actually spared a lot of my $btc. What had happened was that I accidentally went UP to 100x
Read 20 tweets

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