Hello and good Friday, January 28, 2021, I’m Drew and this is Rocketboom [chair breaks]
More from Bitcoin
To chaiye chalte h 12K ki taraf.
#BTC https://t.co/Yd4iZqC42s
#BTC https://t.co/Yd4iZqC42s
I don't know why Crypto YouTubers are so bullish on BTC right from the top \U0001f61b while the charts are saying something else. Won't be surprised to see the entire retracement of the marked rise. #BTC pic.twitter.com/SQJkjAfZme
— Aakash Gangwar (@akashgngwr823) April 30, 2022
1/ #Bitcoin FUD-busting time!
claim: bitcoin ownership is heavily concentrated.
@business published an article claiming "2% of accounts control 95% of all Bitcoin" 🤣
truth: the facts, my friends, simple don't line up. let's dive in!
2/ interrogating on-chain addresses is tricky.
address =/ account.
one person can control multiple addresses.
one address can hold bitcoin belonging to multiple ppl.
exchanges and trading firms will have addresses with large balances that represent client funds.
3/ the fine folks @glassnode published an excellent analysis of on-chain address balances in January
the ownership distribution of bitcoin among wallets is actually much more diverse than one might expect.
full piece here:
https://t.co/n5IdIQdNoA
4/ 31% of BTC is held in addresses not identified as exchange wallets.
these are likely institutions, funds, custodians, and OTC desks.
our analysis at @CoinSharesCo indicates >15% of all bitcoin is held in third party custody, including @coinbase and our own @KomainuCustody
5/ in fact, between asset managers @Grayscale ($36B in BTC) and our @xbtprovider ($4B in BTC), 4% of bitcoin is locked up by fund providers and asset managers!
our @CoinSharesCo research team publishes an EXCELLENT weekly report on fund flows and AUMs -
claim: bitcoin ownership is heavily concentrated.
@business published an article claiming "2% of accounts control 95% of all Bitcoin" 🤣
truth: the facts, my friends, simple don't line up. let's dive in!
2/ interrogating on-chain addresses is tricky.
address =/ account.
one person can control multiple addresses.
one address can hold bitcoin belonging to multiple ppl.
exchanges and trading firms will have addresses with large balances that represent client funds.
3/ the fine folks @glassnode published an excellent analysis of on-chain address balances in January
the ownership distribution of bitcoin among wallets is actually much more diverse than one might expect.
full piece here:
https://t.co/n5IdIQdNoA
4/ 31% of BTC is held in addresses not identified as exchange wallets.
these are likely institutions, funds, custodians, and OTC desks.
our analysis at @CoinSharesCo indicates >15% of all bitcoin is held in third party custody, including @coinbase and our own @KomainuCustody
5/ in fact, between asset managers @Grayscale ($36B in BTC) and our @xbtprovider ($4B in BTC), 4% of bitcoin is locked up by fund providers and asset managers!
our @CoinSharesCo research team publishes an EXCELLENT weekly report on fund flows and AUMs -
Ok, so what is the significance of the @lagarde statement on bitcoin?
We were offered a very open insight (but slightly flawed analysis) into top level policy perspective behind the crack down on selfhosted wallets.
https://t.co/1LTzrxHbgs 1/32
'It is a speculative asset, by any account. If you look at the price movements... '
It starts with an economic price perspective and we can learn that ECB is closely monitoring this price movement as one of the many indicators.
So we are in the classic central bank frame 2/32
'Those who thought it would turn into a currency. Sorry, it is an asset not a currency.'
Here she summarises a classic debate on what is currency and what is needed for that. Based on the holy three: unit of account, means of payment, store of value. 3/32
The summary is classic, but too narrow and does not incorporate the wider financial history viewpoints on money, currencies and the way we pay. 4/32
ECB overlooks the de facto unit of account role of bitcoin, having been used to 200 years of having cash around whic is both the unit of account and a means of payment. 5/32
We were offered a very open insight (but slightly flawed analysis) into top level policy perspective behind the crack down on selfhosted wallets.
https://t.co/1LTzrxHbgs 1/32
ECB President Christine Lagarde called for global regulation of #Bitcoin, saying the digital currency had been used for money laundering activities in some instances and that any loopholes needed to be closed. Follow #ReutersNext updates here: https://t.co/4MgFy4jnw5 pic.twitter.com/qlBtoDuZLW
— Reuters (@Reuters) January 13, 2021
'It is a speculative asset, by any account. If you look at the price movements... '
It starts with an economic price perspective and we can learn that ECB is closely monitoring this price movement as one of the many indicators.
So we are in the classic central bank frame 2/32
'Those who thought it would turn into a currency. Sorry, it is an asset not a currency.'
Here she summarises a classic debate on what is currency and what is needed for that. Based on the holy three: unit of account, means of payment, store of value. 3/32
The summary is classic, but too narrow and does not incorporate the wider financial history viewpoints on money, currencies and the way we pay. 4/32
ECB overlooks the de facto unit of account role of bitcoin, having been used to 200 years of having cash around whic is both the unit of account and a means of payment. 5/32
You May Also Like
✨📱 iOS 12.1 📱✨
🗓 Release date: October 30, 2018
📝 New Emojis: 158
https://t.co/bx8XjhiCiB
New in iOS 12.1: 🥰 Smiling Face With 3 Hearts https://t.co/6eajdvueip
New in iOS 12.1: 🥵 Hot Face https://t.co/jhTv1elltB
New in iOS 12.1: 🥶 Cold Face https://t.co/EIjyl6yZrF
New in iOS 12.1: 🥳 Partying Face https://t.co/p8FDNEQ3LJ
🗓 Release date: October 30, 2018
📝 New Emojis: 158
https://t.co/bx8XjhiCiB
New in iOS 12.1: 🥰 Smiling Face With 3 Hearts https://t.co/6eajdvueip
New in iOS 12.1: 🥵 Hot Face https://t.co/jhTv1elltB
New in iOS 12.1: 🥶 Cold Face https://t.co/EIjyl6yZrF
New in iOS 12.1: 🥳 Partying Face https://t.co/p8FDNEQ3LJ
On the occasion of youtube 20k and Twitter 70k members
A small tribute/gift to members
Screeners
technical screeners - intraday and positional both
before proceeding - i have helped you , can i ask you so that it can help someone else too
thank you
positional one
run - find #stock - draw chart - find levels
1- Stocks closing daily 2% up from 5 days
https://t.co/gTZrYY3Nht
2- Weekly breakout
https://t.co/1f4ahEolYB
3- Breakouts in short term
https://t.co/BI4h0CdgO2
4- Bullish from last 5
intraday screeners
5- 15 minute Stock Breakouts
https://t.co/9eAo82iuNv
6- Intraday Buying seen in the past 15 minutes
https://t.co/XqAJKhLB5G
7- Stocks trading near day's high on 5 min chart with volume BO intraday
https://t.co/flHmm6QXmo
Thank you
A small tribute/gift to members
Screeners
technical screeners - intraday and positional both
before proceeding - i have helped you , can i ask you so that it can help someone else too
thank you
positional one
run - find #stock - draw chart - find levels
1- Stocks closing daily 2% up from 5 days
https://t.co/gTZrYY3Nht
2- Weekly breakout
https://t.co/1f4ahEolYB
3- Breakouts in short term
https://t.co/BI4h0CdgO2
4- Bullish from last 5
intraday screeners
5- 15 minute Stock Breakouts
https://t.co/9eAo82iuNv
6- Intraday Buying seen in the past 15 minutes
https://t.co/XqAJKhLB5G
7- Stocks trading near day's high on 5 min chart with volume BO intraday
https://t.co/flHmm6QXmo
Thank you