1/ Why Silicon Valley Doesn't Get Bitcoin

Over the last 12 years of it’s existence, Bitcoin has been misunderstood by Silicon Valley which has led to many cringe worthy moments as they’ve endorsed silly ideas and even worse, scams.

More from Dan Held

1/ [December Bitcoin yield update]

Over the last year and a half, I’ve earned ~1.2BTC with various yield generating services to earn an average of 5% on 30 BTC.

Here’s my journey and how to guide👇

2/ Here are the ways you can earn yield:

Lending (Easiest/most popular)
Yield: 3-6%
- Ledn:
https://t.co/4x0YATuQ0v
- BlockFi: https://t.co/90Xtg2cNka

Covered calls (Harder)
Yield: 1-80%
- Deribit: https://t.co/2iQVkXlylP
- LedgerX:

3/ Earning a yield enables you to stack more sats (what I’m doing), or reduce the temptation to sell your coin through earning an income.

The yield you earn comes with RISK!

Below is my current allocation for Dec (will update MoM)

(yellow = changes)

https://t.co/PZwVYs8lFT


4a/ [Nov > Dec Changelog]

- Covered calls: approx. 4 BTC was in $40k 12/28/20 contracts. Those closed without them being exercised (a good outcome for me). However, I was nervous about my January 1/28 $50k contract so I decided to close out my position at a small loss.

4b/ [Nov > Dec Changelog]

- In process of reallocating the 5 BTC (probably will be a lending platform).
- I incorrectly had my Ledn rate at 6.5%, it's 6.25%

More from Bitcoin

Another #FreeLoveFriday. So far, I’ve covered Bitcoin, Mastercoin/Omni, and last week ChainLink and the importance of decentralized oracles. Today, let’s talk about one of the most fascinating projects in crypto - @MakerDAO


In my thread about Mastercoin, I briefly touched on the vital role fiat-backed stablecoins play in crypto markets, but there’s a catch with them:

The counterparty risk of a third-party holding fiat in reserves.

Enter MakerDAO, which set out to create a decentralized, collateral-backed cryptocurrency, DAI, that would be “soft-pegged” to the U.S. Dollar using the power of algorithms. In crypto tradition, its supporters said trust game theory, not operators.

In 2017, MakerDAO published a whitepaper describing a system where anyone could create DAI by leveraging ETH as collateral to create Collateralized Debt Positions. Essentially, you take out a digital USD loan against your crypto.

The game theory of the system is structured such that DAI issuance is controlled to keep the price pegged to $1.00. In essence, it buffers the fluctuations of the underlying collateral to create a synthetic dollar bill.
Agree mate. Well done @ttmygh @profplum99 and @nic__carter on a ripping show. Im obviously in the "gold is superior" camp, though I am long #BTC (tiny position). I thought the best/most interesting point of whole debate was raised by @profplum99 regarding the fact that a 1/n


#Bitcoin transaction is never really final, given the energy required to keep the network running, and obviously its scale issues will only grow over time. That said, I actually though @nic__carter "won" the debate as it were, and I was unconvinced by the threat to national 2/n

security or undermining Fed policy angles Mike put forward. Two areas that are super interesting to me. One is the issue of #Bitcoin ownership, and how concentrated it is in terms of a small % of addresses that own most of it (2% addresses > 95% of holdings I think). 3/n

made great point a lot of this is omnibus/exchange related - so exchange or fund - ie @Grayscale holds #bitcoin for multiple investors. That may well be true - but it brings up 2 other issues. One - it proves that #bitcoin doesn't really "work" without 4/n

centralisation - as this implies most people need exchanges or funds (or @Paypal) to buy it. If so, that kills off a major "bitcoin is better than gold argument" - as in reality, gold is way more decentralised (from mine supply to ownership distribution). It also brings up a 5/n

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