https://t.co/kWHHSWdlw2 #GoldStandard #Bitcoin #BTC
#Covidstroika

https://t.co/tGxQi7Rb8z
ONE FLU OVER THE CUCKOOS NEST. BORIS AND MATTS’ ECONOMY WITH THE ACTUALITE. NHS SPIN RUNNING ON LEAN #COVIDSTROIKA #WHATHAPPENEDTOFLU WHERE DID ALL THE BEDS GO? #EUROMOMO

1/ Thread explains the rationale for $GBTC over #bitcoin. (Speaking from experience, but not necessarily an endorsement of GBTC):

2/ $GBTC fills a need and is designed to permit exposure to #bitcoin for professional, registered investment advisors in the US. Money managers have unique circumstances compared to individual investors.

3/ #Imagine you are an investment mgr with 250 client accounts (an average-sized separate account manager would have 400). Owning #bitcoin means setting up another 250 accounts - major work with not a lot of reward. If you want to rebalance (stocks/bonds/bitcoin)...

4/ you have 250 transfers to make. Doubles admin workload, makes operational life very complicated. Lots of work for a 5-10% allocation (or less!) to $BTC.

5/ Client reporting is a nightmare. 2 sets of custodian statements not easily combined... A typical client already has 3 accounts, now it is 6 accounts & 6 statements, and there are few software feeds to consolidate data from #crypto exchanges into traditional portfolio reports.

Bitcoin: A Peer-to-Peer Electronic Cash System

Satoshi Nakamoto
[email protected]
https://t.co/G8BUvnF9nT

Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial

institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps

transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came

from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure.

Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone. 1. Introduction
Commerce on the Internet has come to rely almost exclusively on financial

1/ Don’t Fear Tether

Whenever Bitcoin has a bull run, naysayers try to cope with missing the boat by rationalizing why it will fail through FUD. Most of these are completely unsubstantiated, but annoyingly persist as negative narratives Bitcoin must fight against.