BC BITCOIN

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CoinMetrics.io
@coinmetrics 4 years, 7 months ago 680 views

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1/9 Bitcoin has performed remarkably these past few weeks despite:
-Most of DeFi falling 50-80%
-CFTC charging BitMEX
-POTUS contracting Covid
-Delayed stimulus talks
-FCA announcing a derivative ban for retail

Why? Let’s see what we can find on-chain

2/9 Bitcoin’s Realized Cap has been steadily increasing just as it did before the 2017 bull market took off. If it continues as it did in 2017, 2021 should be an interesting year.

https://t.co/nqgX7vTMDV

3/9 Bitcoin MVRV, whilst more volatile this market cycle, is also is holding the same trajectory it did during the 2016/17 bull market

https://t.co/jadbn6nCOB

4/9 Looking at the supply of Bitcoin on exchanges is a good indication as to whether or not users are increasing trading activity, or increasing hodl activity. With supply reducing it looks like the tendency recently has been driven by hodlers

5/9 Despite the recent volatility, the number of Bitcoin whales continues to increase, indicating the growing number of large holders that have positive expectations for the future of Bitcoin

6/9 There have only been 6.8m BTC, or 36.7% of total supply, that have been active in the last year. Whilst the total supply of Bitcoin continues to grow, the free float and active supply indicate that scarcity might be higher than some may expect

7/9 Most of the post March activity in Bitcoin has not been led or followed by increases in Days Destroyed (the re-activation of long term held Bitcoin), further supporting the idea that long term holders are expecting the medium term price action to be positive

8/9 Bitcoin Transfer count continues to grow steadily, indicating the user base/usage of the network is increasing in a healthy fashion

9/9 All this to say we like what we are seeing on-chain from a fundamental growth perspective! (and think @Square and @michael_saylor might too 😉)

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Erin Gallagher
@3r1nG

Unmasking the Deceased Programmer Who Donated 28 Bitcoin to Capitol Hill Rioters. https://t.co/EOrIu7x4J6

French far-right hacker Laurent Bachelier aka "pankkake"

$Gigi \u23f3\u262f\ufe0f$

Gigi ⏳☯️...
@dergigi

1/ Everyone knows that time is money. In the digital realm, however, money is also intricately related to time. It has to

2/ Among other things, money solves a coordination problem. Trading a single good against others solves the combinatorial explosion of a barter economy. It is a scalability solution that allows coordination across large groups of people.

3/ The two basic forms of money are ledgers (made of information) and physical tokens (made of atoms). Physical tokens keep track of themselves. Ledgers need someone who is in charge.

4/ In the informational realm, only ledgers exist. And to make sure that transactions on a ledger are in order, a concept of time is required. In other words: Tokens are timeless, ledgers are not.

5/ A decentralized system can't rely on our human concept of time. A trustless, non-local time is required. Trustless, because we must not introduce a third party. Non-local because we don't have the luxury of a central frame of reference.

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balajis.com
@balajis

The defi matrix

As each asset class goes on-chain, it can be stored in a digital wallet. And it can be traded against other such assets. Not just cryptocurrencies, but national digital currencies, personal tokens, etc.

We’re about to enter an age of global monetary competition.

The defi matrix is the table of all pair wise trades. It’s the fiat/stablecoin pairs, the fiat/crypto pairs, the crypto/crypto pairs, and much more besides.

Uniswap-style automatic market making for everything. Every possession you have, constantly marked to market by ~2040.

More liquidity, less currency?

This is an interesting point. Cash doesn’t make you money. In fact, it can lose you money in an inflating environment.

Reliable, 24/7 mark-to-market on everything is hard — but if achieved, means less % of assets in cash.

Thus less use for currencies as people can more easily store their wealth into assets and easily trade them.
— Pierre-Yves Gendron (@pierreyvesg7) February 24, 2021

AMMs boost BTC. Here's why.

- All assets trade against all assets in the defi matrix
- Automated market makers give liquidity for rare pairs
- Everything is marked-to-market 24/7
- Value of cash drops, as you can liquidate instantly
- The new no-op is to keep your assets in BTC

Basically, automated market makers like @Uniswap boost BTC in the long term, because they allow *everything* to be priced in BTC terms, and *anyone* to switch out of BTC into their asset of choice.

Though in practice this may mean WBTC/RenBTC [or ETH!] rather than BTC itself.

$Harsh / \ud5c8\uc26c$

Harsh / 허쉬
@_Harsh_Mehta_

#Bitcoin #BTC - Break of lower channel support at around 16500-17000 shall take it to 1750-1800

Massive price erosion in cryptos a very likely outcome. This shall spill over to equities as well but not to same extent.

Meltem Demirors
@Melt_Dem

1/ @Square buys $50M of #Bitcoin w/ its balance sheet 🚀

let's untangle what corporate treasurers do and why this matters...

the role of corp treasurer didn’t exist until the 1970s, when co's faced high inflation and financial uncertainty

2/ in this environment, companies with no cash management or treasury strategy were losing 10-12% / yr to inflation

modern corporate treasury is typically focused on cash management and managing the opportunity cost of capital

holding cash is *not* a strategy

3/ when i worked in corp treasury, we mostly traded the overnight and short term rate markets

we could earn a nice 3-5% return in these very low-risk assets w/ time preference

treasurers today are living in a radically different world!

RATES ARE 0

TARGET INFLATION IS >2%

4/ faced with this new reality, corporate treasurers (and all investors) are looking at alternatives

#Bitcoin is a highly liquid asset that trades 24/7 in an increasingly regulated and structured global market - and its an effective portfolio diversifier!

5/ Square’s willingness to hold bitcoin on its balance sheet as a treasury asset speaks to:

(1) the changing landscape that treasurers must navigate, and;
(2) their ability to manage the operational, risk, and compliance requirements of holding bitcoin directly

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Jaya_Upadhyaya
@Jayalko1

KANAKA DURGAMMA, VIJAYWADA (AP)
#bharatmandir

Ma Kanakadurgeswari is the supreme Goddess of Andhra Pradesh, seated atop the Indrakilaparvatha at Vijayawada.
This area is called Bezawada as Shiva made a bejjam (hole) in the rocks so that Krishna river could flow freely.

Once, a Rishi Indra Keela prayed to Devi and asked her to reside on his head forever. Devi told him to wait in the form of a mountain in the holy plains of River Krishna.
Later, when Devi killed all demons, she settled on Keeladri as Mahishasura Mardini and fulfilled his wish.

In this place, Arjuna performed penance and fought with Shiva, who had appeared in the guise of Kiratha to win Pasupathastra, the most powerful weapon. So this place is also called phalguna theertha and Vijaywada on account of Arjun’s victory.

Adi Sankaracharya visited this shrine and worshipped the Devi. He installed SRICHAKRAM at the feet of Sri Kanaka Durga.

Adjacent to the Kanakadurga shrine is the shrine of the divine consort-Sri Malleswara Swamy on the Indrakeeladri.

$MAKE THE WORLD GREAT AGAIN \U0001f30d$

MAKE THE WORLD GREAT A...
@joyoftheawoke

The take down of the Cabal A-Z Charlie Freak & @djmarkdevlin

...In May 2017- Prince alwaleed tala sold his soul to the 13 bloodline families

Thread.. please retweet this truth 🙏

Trump visits the Middle East and receives royal Saudi welcome, highest Saudi honour by receiving the golden collar of abdulaziz al Saud
Not been seen with past presidents ...

When trump arrived in the summer of 2017 14/09/2017 he laid out all the documents, all the folders and they had all the photographs, disks, cds, dvds with all footage of them doing horrific things, the NSA has it all!

2 weeks later the richest men begun getting arrested...

They hand picked Obama, alwaleed tala decided to make Obama the linchpin of the us presidency. Barack has connections all over the cabal

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Trader knight
@Traderknight007

Pyramiding 2.0

A thread-

What is pyramiding?

It is simply adding to your winners.

Why use pyramiding?

1. It makes your winners bigger than your losers.

• Because you are adding positions when your trades are going your way, you are increasing your gains but your losers will be small comparatively.

2. You lose less during Draw-down time ( it saves you from losing big during whipsaws )

• Many times when the market is in sideways mode, Entering a trade with full risk might not be the best idea.

• So, you test the waters with a small position first, it could be ⅓ or ¼ of your total risk.

• So if the Breakout fails or whipsaws come, then you will only lose a small part of your overall risk.

• Then when position starts to go in your favor you can add to it.

3. It helps you to concentrate on a few trades,

They say that don’t put all your eggs in one basket, but don’t put them in too many either.

• See, Everyone can see charts and find breakouts, pullbacks etc.

Erik Torenberg
@eriktorenberg

1/ Someone emailed me asking how to break into VC, so I wanted to answer on Twitter where others could see and contribute to the conversation.

2/ “Being a VC” can mean a lot of different things, so it’s worth asking:

What actual activities do you want to do?

- Deep market analysis?
- Be in the flow of information and people?
- Make deals?
- Work closely w/ founders over time (e.g take board seats?)
- Manage capital?

3/ It’s worth specifying what type of VC you might like to become — as there are different archetypes. E.g.

- Benchmark (Lead series A/B - couple investments a year)
- First Round (Lead seed rounds, partner w/ a few companies a year)
- SV Angel (Make lots of seed investments)

4/ Continued:

Expa - Incubate companies

YC / Village Global - Build a platform to help entrepreneurs at scale

Do you want to join a firm or start one? There’s a lot to consider.

Different paths will require different skillsets & sets of experiences.

5/ Since the person who wrote the email is a young person trying to break into VC by joining a firm (and who doesn’t want to start a company), I’ll tailor this tweet storm to that goal. There’s some overlap.

foone
@Foone

You want to know something about how bullshit insane our brains are?
OK, so there's a physical problem with our eyes: We move them in short fast bursts called "saccades", right? very quick, synchronized movements.
The only problem is: they go all blurry and useless during this

having your vision turn into a blurry mess every time you move your eyes is obviously not a good idea, so our brains hide it from us. Now, imagine you're an engineer and you have this problem.

You've got some obvious solutions you could do.
1. make the vision go black during movement. (Some VR games do this!)
2. just keep showing the last thing we saw prior to movement

both are good options with different downsides, but OH NO. this is assuming everything makes sense and is chronological and (regular) logical.
Your brain does neither of these options, really.

first, it basically puts your visual system on "pause". You're not seeing blackness or even nothing, you're just not seeing period.
then when you finish your saccade, it shows you what you now see at the new position. and then it pretends it can time travel.