BC BITCOIN
Saved by @SteveeRogerr

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.
6/ Bitcoin creates its own sense of time using two essential building blocks: causality and unpredictability. Causal links are settling the past. Unpredictable events are opening the doors to the future. The chain tip is the eternal now.
7/ Bitcoin uses SHA-256 and digital signatures as its causal building blocks and the ever-changing interactions of its peers, as well as the randomness of PoW as its source of entropy.
8/ This intricate dance of coordination creates a moment in time that every node can verify for itself. It can trust, with a very high probability, that this is what actually happened in the past.
9/ The difficulty adjustment makes sure that Bitcoin's time and our time stay in sync. It is the probabilistic metronome that orchestrates the intricate dance of the network.
10/ By creating a novel definition of time, Satoshi managed to solve an otherwise intractable coordination problem in our relativistic universe: agreeing on the order of things on a global scale.
11/ I hope you have enjoyed this time-centered view on Bitcoin. The next time someone asks what Bitcoin is, simply answer: "It is time."
12/ Thanks to everyone who helped with this piece: @Croesus_BTC, @FriarHass, @CitizenBitcoin, @skwp, @joernroeder, @SwanBitcoin - and thanks to all my supporters. I wouldn't be able to do this without you.
13/ "Bitcoin Is Time" is one chapter of my upcoming book, 21 Ways. You can support me and follow along here:

https://t.co/NjCREIXoWx

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CoinMetrics.io
CoinMetrics.io
@coinmetrics
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
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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...
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Yan Pritzker \U0001f9a2
Yan Pritzker 🦢...
@skwp
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.
BITCOIN
The Bitcoin Rabbi
The Bitcoin Rabbi
@thebitcoinrabbi
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
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RealRLD
RealRLD
@rld_real_CPR
https://t.co/kWHHSWdlw2 #GoldStandard #Bitcoin #BTC
#Covidstroika
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Post partition, every morning a weak old woman would board the Model Town bus service headed to the city. The conductor never asked her for money or he would invite anger of the last Queen of Punjab.

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This is a beautiful story of Guruvayurappan. Once there lived in Guruvayur a poor family. Kitta, his wife & kids were struggling for their daily needs. With only a coconut tree in house, he earned a living by selling coconuts.


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