BC BITCOIN
Saved by @Jacobtldr

1/THREAD: WHEN WAS IT CLEAR?

Oct. 8, 2020: The purpose of this thread is to document and timestamp when it first became clear that #Bitcoin was likely to become a major reserve asset for public corporations, and eventually states, with Square's purchase of $50M in BTC.

 The purpose is to give something to cite when ppl later claim "But there was NO WAY OF KNOWING..."

h/t @ErikSTownsend who used the same format to call out the impact of Covid on Feb 8 and made me personally aware of the looming shutdown of the country https://t.co/opuiNgSeqC !
Bitcoiners smarter than me have been predicting the takeover of the dollar by Bitcoin for many years.

In 2014 with Bitcoin barely at $1B, @pierre_rochard wrote https://t.co/EGHa58KqHq, covering all the incorrect narratives of Bitcoin and stating it will overtake the dollar.
"[skeptics] misunderstand how strong currencies like bitcoin overtake weak currencies like the dollar: it is through speculative attacks and currency crises caused by investors, not through the careful evaluation of tech journalists and 'mainstream consumers'" - @pierre_rochard
I first became bullish on Bitcoin in the summer of 2016, around a $3B market cap, but it was still a toy project at that time in the eyes of most in the financial world, while many technologists thought of it as a v1 technology to be improved on.
My first writings on Bitcoin in the fall of 2016 after 4 months of study correctly identified the monetary importance, but incorrectly understood blockchain as an application platform and predicted the rise of Ethereum, which I no longer believe can work.
https://t.co/aKGjgSQMps
Today, at $200B, it is exceeding our wildest dreams, while skeptics look on bewildered, shouting "bubble", for ten years straight, being forced to shift goal posts from "it will go to zero" to "two public companies buying an aggregate $500M of Bitcoin is not a pattern".
But to my thinking it was the week of Oct 8, 2020 when it first became crystal clear, and that traditional financial media reporting on Bitcoin was out of touch with reality, with the announcement of Square's purchase of $50M in Bitcoin.
Media earlier in the year continued to talk criminals and bubbles despite the entry into Bitcoin space by financial giants such as NYSE, CME, and Fidelity, investments into Bitcoin mining by Peter Thiel, and entry of macro players like Paul Tudor Jones and Raoul Pal.
Bitcoin now receives daily coverage in the financial press, while the opinion arms of the same publications write FUD pieces, and mislabel Bitcoin news as "crypto", "cryptocurrency", or "coin", as if driven by some insane force to avoid stating the painfully obvious.
It was back in August that MicroStrategy, a billion dollar Nasdaq listed company, announced the purchase of 21,454 bitcoin, almost five times the amount Square did. Media mostly slept on the initial purchase by $MSTR, unlike the coverage of Square, which was widely publicized.
I immediately recognized that this was the first of many to follow, retweeting Saylor's Sep 15 announcement of the aggregate purchase of of $425M worth of Bitcoin for his company's corporate treasury.
Some in traditional finance analyzed this move as a hail mary by a wacky CEO who had voting control and didn't have to answer to anyone. But Mr. Saylor had been using his Covid quarantine time to study the hardest money ever to be invented.
A "perfect storm" for Bitcoin has formed in 2020, which will ultimately lead to the replacement of the dollar with Bitcoin on the balance sheets of many major corporations, and likely states, within the next decade.
The perfect storm is 1) Bitcoin is the scarcest and hardest money ever to be invented, with a fixed supply that is changeable by no one 2) More than 7000 clones and competitors have been created with near zero market uptake 3) Dollars are being debased on an unprecedented scale
4) The world is tired of US hegemony and censorship over its currency 5) Countries that are sanctioned by America need a neutral currency to trade 6) Corporations need a reserve asset that cannot be debased 7) Leading companies such as Square and MicroStrategy demonstrating...
…not only the safety of, but a necessity to hold Bitcoin on corporate balance sheets to avoid dollar debasement 8) Bitcoin has become incredibly deep and liquid, able to sustain a $500M purchase over a few days without major slippage.
To summarize, by Oct 8, 2020 - it was crystal clear that Bitcoin was going to eat all weaker currencies alive. That includes the dollar. Be long dollars at your own risk.
A major thank you to @michael_saylor and @jack for your leadership in showing the world that this is the way.

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https://t.co/kWHHSWdlw2 #GoldStandard #Bitcoin #BTC
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Alex
Alex
@classicmacro
$BTC views

Price needs to let volatility wear off before its next big move. Thinking 30K-40K range for the next 1-2 weeks. Then either 50K straight or after piercing 30K and bouncing back above 30K within 1-2 days.


$27500-$27000 is the key area. If price heads back down to 30K, expect 30K to be breached, fall to that area, and bounce back. FAST. All very fast.


What do I do with this information?

Simple.

I'm trading the range against a core position. Buying when price pushes lower, selling when higher. It's like playing the achordeon. There's always air left inside.

Where exactly?

Nowhere.

I don't use limits for that. $BTC is liquid enough to trade at market without issues.

I'm watching PA, volume and rates for buying and euphoria as reflected in rates for reducing.

Decision making is dynamic. Nothing is set in stone. But most likely if price heads back down to 30K 'll be holding off next time. The gameplan is to have ammo to buy the dip (to redeploy). If 30K breaks absolutely no buying until down to 27Ks or back above 30K.
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Meltem Demirors
Meltem Demirors
@Melt_Dem
1/ outlook for bitcoin: positive 🚀

in this thread, i'll quickly outline key data points on #bitcoin sentiment, demand, market structure, and macro conditions

disclosure: i own BTC, obvi. this is not investment advice. DYOR. further disclosures at

2/ let's start w sentiment ☺️

first, investor sentiment:
✅ @blackrock filed to add BTC to 2 funds, CIO has 400k price target
✅ @RayDalio's Bridgewater reportedly issuing BTC research report
✅JPM, Goldman, and other bulge brackets initiated research coverage

3/ next, trader sentiment:

🚨 most important indicator is the forward curve

normally BTC futures trade in backwardation after a price drop.

this time, the curve stayed in contango following drop, meaning market makers are bullish 🐂📈 despite funding rate increase!

4/ sentiment drives demand. so DEMAND next.

💸 let's talk fund flows

🤑 our research shows $359M of inflows into crypto products last week alone (https://t.co/6Kky96m3ob)
🤑 our @CoinSharesCo @xbtprovider ETPs saw $200M trading volume on jan

4/ let's talk bitcoin fundamentals

post-halving, 900 BTC mined per day, 312,000 this year.

👀 47M millionaires. 21M bitcoin.

🏆 collectibles selling at all time highs. bitcoin is the ultimate collector's item. (see
BITCOIN
David Puell
David Puell
@kenoshaking
$BTC: Two Bitcoin FUDs to address this Thanksgiving weekend:

1. China PlusToken FUD: Old news. Please see linked thread.

2. U.S. Treasury FUD: Read thread below...


1/ These news are much more relevant, as they imply severe trade-offs for people who want to keep their bitcoins undoxxed, with the cost and risks of doing so. I would not disqualify the tweet as mere FUD in the sense that what he posted is false. It should be taken seriously.

2/ For all we know, his decision of making it public before TG weekend may come out of the urgency of informing CT of a poignant anti-Bitcoin move by a Trump administration trying to cut lose ends before leaving office—not just "price manipulation" as I've seen suggested around.

3/ It implies the acceleration of a process already planned for for months in advance, not something he just came up with to "crash the market."

4/ In practicality, assuming this passes, it will have two major consencuences:

a. Armstrong's analysis is correct. And I would go further in saying, this regulation would leave the U.S. severely handicapped to continue to be the leader in the cryptocurrency industry worldwide.
BITCOIN
CryptoWhale
CryptoWhale
@CryptoWhale
#BlackRock, the world’s largest asset manager with $7.81 trillion AUM, recently granted two of its funds the ability to invest in #Bitcoin futures.

Here's why I think BlackRock investing in Bitcoin futures is bearish, and could result in a major downturn in the coming months.


1) According to the new BlackRock SEC filings, it mentions the use of Bitcoin derivatives and other assets as part of its investment scheme. The futures will be cash-settled, and likely on the CME BTC exchange.


2) If BlackRock was bullish on Bitcoin, they would've directly bought it, but instead they are choosing to buy Future contracts. Why?

With Futures, they can either short or long. Considering BlackRock's historically bearish stance on BTC, It's quite clear they will be shorting.


3) Here's a short clip of BlackRock CEO Larry Fink bashing #Bitcoin, saying theres zero institutional demand, and calling it an ‘index of money laundering':


4) By investing in the Bitcoin futures market, it essentially allows them to gamble on its future price.

With their large cash size, BlackRock will be the largest player in this market. They can and will tank Bitcoin's price to avoid paying out. Banks have done it before...
BITCOIN

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क्या आप जानते हैं कि क्या है, पितृ पक्ष में कौवे को खाना देने के पीछे का वैज्ञानिक कारण!

श्राद्ध पक्ष में कौओं का बड़ा ही महत्व है। कहते है कौआ यम का प्रतीक है, यदि आपके हाथों दिया गया भोजन ग्रहण कर ले, तो ऐसा माना जाता है कि पितरों की कृपा आपके ऊपर है और वे आपसे ख़ुश है।


कुछ लोग कहते हैं की व्यक्ति मरकर सबसे पहले कौवे के रूप में जन्म लेता है और उसे खाना खिलाने से वह भोजन पितरों को मिलता है

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Kaspars Ozolins
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THREAD: Meditations on marriage metaphors in Ruth

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SRI LALITHAMBIGAI, THIRUMEYACHUR (TN)
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Kshetram where Shiva is worshipped as Meghanatha and his consort is Lalithambigai seen in Abhay mudra.
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