BC CRYPTO
Saved by @Jacobtldr

Tesla just announced that it had bought 1.5 billion dollars of bitcoin and could in the future sell cars in bitcoins. Since this morning both Bitcoin and Tesla are going up in the market. Maybe there is afterall something in the saying that“Bitcoin is Tesla without the cars”1/ 20

 Musk is seen as a genius, a true Midas, by many investors and millennials. For them he can never go wrong. He became recently the richest man in the world dur to Tesla stock valuation (+353% yoy). He moves markets and today´s announcement is “kind of legitimise “ bitcoin 2/
Tesla shares attained $870 which represents a Price/ Earnings ratio of 1.747 (!) on the basis of last year´s profits. Apple is at 37 and the S&P firms average is 23 (against a historical average ≈16). Future profits would have to increase a lot to justify a more normal ratio 3/
Tesla has a good product but the question is if it will sell enough cars to get such profits in face of coming fierce competition. However, this is not the question I want to comment upon. It is also not about what may interest the SEC and market conduct…4/
It was not disclosed when Tesla had made this investment. In December, Musk said that Tesla could buy bitcoin, and this was followed by many statements that he supported bitcoin. Bitcoin kept going up & Tesla investment has appreciated. The SEC will look into this 5/
What is important is what all this means for bitcoin's nature and prospects, the abundant misconceptions going around, and authorities and central banks thinking. Among bitcoin and technologic buffs, there is the unshakable belief that bitcoin is the future 6/
First, let´s look at the Tesla announcement that they did it to: “..further diversify and maximize returns on our cash.”. “We expect to begin accepting Bitcoin as a form of payment for our products..subject to applicable laws and initially on a limited basis” 7/
The 1st sentence means that they bought bitcoin as an asset. The 2nd means that the promise to sell cars in bitcoins is limited. Still, any firm can sell in bitcoins at the market exchange rate and immediately go back to dollars on which its production is conducted 8/ 20
There are some costs involved that firms will pass to prices, which would be a problem in small transactions. This and other factors limits the use of bitcoin in transactions which is now negligible. However, even this use will not make a currency out of bitcoin 9/20
With its huge volatility (it is 375 % higher in relation to last October) bitcoin cannot be used as a stable unit of account to take and plan price decisions. No firm could operate a budget or do financial planning based on a unit that can vary as much in 3 months. 10/
It should be clear by now that bitcoin cannot be a currency allowing a STABLE use as a unit of account, a means of payments and a store of value (- 35% between 8 and 27 of January). It is now only another speculative new asset to be compared with the role of gold (!) . 11/
More institutions are investing in bitcoin. A market player said: it is now a matter for allocators. Given that bitcoins are limited to 21 million units (3 million to go), he “calculated” that if all large portfolios would have 0.xx% in bitcoin, its value could go to $400000.12/
Bitcoin is just a series of zeros and ones in a network of computers. It has no fundamental use-value because it will never be a currency. At least gold, that “barbarous relic” (Keynes), has some industrial and jewellery uses that would never justify its historical prices 13/
Speculative assets are valued based only on beliefs. Investors believe that, because of some risk, there will be more or less future buyers, and buy or sell accordingly to that expectation. Bitcoin prices should appear in “commodities” lists not in forex columns 14/
Authorities are condoning the continuation of the public being misled by technological buffs that have no idea of what is money. As Keynes endorsed, the main role of money is to be a stable unit of account defined and managed by the State that creates primary liquidity 15/
Authorities should also make clear that they are thinking of creating central bank digital currency not because of fearing the competition of those crypto-assets. Unlike Monsieur Jourdan, CBs know that they already speak and do digital currencies 16/
If CBs will create digital currencies for the people, they must explain exactly why. Cannot be because “ everything goes digital” or “bitcoin exists” or “we are not technological dinosaurs” or “digital payments don´t work well in advanced countries” or “China is doing it”. 17/
I already live well in a digital currency world that I use for everything̶. I know the arguments of those who want to end the creation of credit/money by the banks. I am very cautious because that is a radical upending of the financial system prone to unwanted consequences 18/
I am not completely against CBs creating their own digital currencies for the people if they protect the essential role of something like banks ensuring credit/money creation and maturity transformation, i.e. credit with long maturities and deposits with short ones. 19/
So, regulate bitcoin and its clones as assets (crypto-assets), explain why the digital currency that the central banks already have should be accessible to the public and in what conditions and try to put a stop to all the irrationalities that surround these issues 20/20’

More from Crypto

Willy Woo
Willy Woo
@woonomic
Let me indulge in a story...

Once upon a time there was a genius called Satoshi, this anonymous character laid down a block, it was called the Genius Block, but we we spell it wrong to this day.


Then along came your standard noob who believed in freedom, we know this because he went by the name NewLibertyStandard.

He created a site to buy and sell Bitcoins.

On his site, he priced Bitcoin on electricity.

The price went up, the price went down.


Then one day, he changed the pricing system.

BTC was no longer priced at the cost of mining.

He priced it by DEMAND and SUPPLY.

Geeks and legendary futurists, bought and sold the rarest commodity on the Internet for pennies.

Price teleported upwards.


Then came a Magic The Gathering gamer. He smashed together a shaky piece of software called Magic The Gathering Exchange.

It became the first widely used BTC exchange.

The whole world sent this kid money to buy BTC.

A new market had unlocked. Price teleported.


Let's fast forward 6 glorious years of price teleportation events.

Many of the story details remain unknown to me, though I see their impact on the blockchain.

But let me bring you to the year 2017 and save you lots of reading...
CRYPTO
D.I.Y Investing
D.I.Y Investing
@vajolleratzii
Prepare For The Biggest Bull Run In Crypto EVER.

I made some charts explaining the long term trend of #Ethereum and how identical it is to the early #Bitcoin cycles.

It's very obvious what's happening and has been in the charts for months.

I call this pattern the, "4 Year Bowl."

New years are a time of market shifts both bullish and bearish. Each cycle goes through 4 years of this rounded accumulation pattern. After year 4 we start 1 year of parabolic rise.


When you take a look at the same principle with the last #Bitcoin cycle you get almost the exact same outcome. Only difference is Bitcoin usually tops at the first of December and not January.

The 4 Year Bowl is identical with Ethereum and Bitcoin


When you lay them side by side you get a pretty insane correlation. The fact $ETH accumulated for 2 years at that range low makes me feel as if the parabolic rise will happen faster than everyone thought.

Look how identical it is to the last $BTC cycle. Who could argue against?


S/O to @BobLoukas for teaching me how cycles work. I was one of the first members on @BitcoinLive1 and Bob was the only person I listened to. True Legend.

So... How does "4 Year Cycle Theory" work?

Measure from peak low to peak low. Each cycle equals 4 years in distance.
CRYPTO
Advertisement
Emperor\U0001f451
Emperor👑
@EmperorBTC
🚨Altcoin Trading Indicator🚨

How to use it. A THREAD.

Please Share.

To use it to buy Altcoins and make a high probability entry, the following conditions needs to be fulfilled.

For a long.
1. A green candle Closes above the cross.
2. Heikin Ashi candle turns green.
3. Price should be above 0.236 Fib from the swing high.


How to add the Indicator.

1. Click on the link and Add it to favorites and apply.
https://t.co/Kn90qgDjMi

2. Or Search it in the tab and then apply it.


The indicator itself the most comprehensive Moving Average Indicator which provides 9 MAs and 13 Different times of MAs.

The base of the indicator was by @insiliconot.

To further enhance it, I have added a cross indicator on the cross which works the best historically on Alts.


Condition 1- The cross.

Entry is made when a Cross occurs on the EMA 13/21.
The indicator automatically indicators the Cross with P for a positive cross or N for a negative cross.

This is the first condition for an Entry.
CRYPTO
Seq
Seq
@CryptoSeq
1/ @MIT discussing the need for blockchain gateways to achieve interoperability across different blockchain networks, and to support the cross-blockchain mobility of virtual assets

https://t.co/PbjQkSlTT3

@quant_network are collaborating with MIT in the creation of ODAP

$QNT

2/ "In order for blockchain-based services to scale globally, blockchain networks must be able to interoperate with one another following a standardized protocol and interfaces (APIs)"

Gilbert founded ISO TC307 which 60 countries are working towards standardizing the interfaces


3/ "We believe that a blockchain gateway is needed for blockchain networks to interoperate in a manner similar
to border gateway routers in IP networks. Just as border gateway routers use the BGPv4 protocol to interact with one another in a peered fashion we believe that a...

4/ blockchain gateway protocol will be needed to permit the movement of virtual assets and related information across blockchain networks in a secure and privacy-preserving manner"

You can read more about the gateway protocol ODAP in this 21 tweet


5/
"We motivate the need for blockchain gateways and blockchain gateway protocols in the following summary:

✅Enables blockchain interoperability:
Blockchain gateways provide an interface for the interoperability between blockchain/DLT systems that operate distinct consensus...
CRYPTO
Vlad "BTCTKVR.com\u201d Costea \U0001f7e7
Vlad "BTCTKVR.com” Cos...
@TheVladCostea
I usually stay away from price predictions, but this time I couldn't help it. Just published "10 reasons why bitcoin will hit $100.000 in 2021".

Share it with a normie friend, maybe he/she will understand the value proposition of

Reason no. 1: during its 12 year-old existence, Bitcoin has performed a lot better as a store of value than gold.

Reason no. 2: Bitcoin is easier and less expensive to transfer than gold. This one is pretty self-explanatory, as gold is heavy and expensive to secure.

However, I believe that we should look up to gold a lot more often & look down to USD less

Reason no. 3: Bitcoins can be carried across borders a lot easier than gold and cash.

It's simple, really. With only a general-purpose electronic device (phone, laptop), piece of paper, or even 12 words that you memorize, you can move your wealth in a different country.

Reason no. 4: Bitcoin transactions cannot be censored.

In a world where PayPal and Visa can dictate your policy as a business and can shut you up from expressing political opinions, Bitcoin has a lot of value.
CRYPTO

You May Also Like

WORLD OF SANATAN DHARMA
WORLD OF SANATAN DHARM...
@world_sanatan
WHY BABUR NEVER TRIED TO ATTACK SRI KRISHNADEVARAYA ?

A🧵u must read

It is very well known that Babur considered Krishna Dev Raya as the strongest ruler of the entire subcontinent, and Vijayanagar empire the strongest during that time in India.

1/10


The Vijayanagar empire reached its peak during 1509-1529 around the reign of Krishna Dev Raya.

Vijayanagar’s famed elephant brigade 👇

2/10


At his command there were over 50000 elite troops with a regiment of Portuguese gunners and 3200 cavalry with 600 elephants.

3/10

Along with that more than four hundred thousand ( four lakh) peasant levies and irregular military made this empire one of the largest in all of South Asia.

A typical Vijayanagar levie soldier 👇

4/10


During Baburs invasion, Krishna Dev Raya ruled supreme in all of deccan.

In fact, in an all our brawl, Krisha Dev Raya will beat Babur fair and square.

Babur could muster at max 50000 troops with 50 canons.

While Krishna Dev Raya had these numbers in Hampi alone

5/10
ALL
Savitri Mumukshu - \u0938\u093e\u0935\u093f\u0924\u094d\u0930\u0940 \u092e\u0941\u092e\u0941\u0915\u094d\u0937\u0941
Savitri Mumukshu - साव...
@MumukshuSavitri
1/n
The kingdom of Sindh was ruled by its last Hindu king Raja Dahir during the 8th century. When Muhammad-bin-Qasim invaded Sindh, he decimated Sindh in his savage bloodlust. The chronicles of his advent are described in the Chachnama.


2/n
The Chachnama describes in detail how the Arabs led by butcher Qasim conquered Sindh. It tells the terrible tale of bravery, treachery, & carnage marking the entry of Islamic conquest of India’s Hindus.


3/n
When Muhammad-bin-Qasim attacked Sindh, Dahir had collected an army of 50,000 horses and marched from Brahamanabad to Rawar to face the invader. Qasim had an army that numbered in the tens of thousands with camels & horses.

4/n
Earlier Arab Alafis - Syeds from Prophet Mohammed’s own family had fled from Mecca with 500 men to Sindh and Raja Dahir had given them asylum. Trusting these Muslims would prove to be the fatal mistake for the downfall of Sindh & pave the way for Islamic invasion.

5/n
On an “auspicious day” in A.D. 711, fixed by astrologers, Mohammed Bin Qasim started for Sindh at the head of the Iraqi, Syrian, and other Arab soldiers. His horses and camels were disguised to look like lions and elephants. Rebel Jats also joined Qasim’s army.
ALL , GANDHARITIHAS
Advertisement
\uc2e0\ub150\uc758\uc0ac\ub098\uc774
신념의사나이...
@Belposto_korea
The RV and the Redemption Funds.

ALL Exchanged Currencies as well as all Zim Redemption funds will be placed in the accounts they set up in the Quantum Financial System./1

Absolutely none of these funds will be placed in a Bank at the redemption appointment. Bank computers cannot be programmed to transfer Digital Gold Certificates./2

The QFS can and will transplant funds into a bank account as has been explained earlier,/3

so a person can transfer funds to their own bank account but the desirability will become less and less as the banks go into receivership and their customer’s deposits are confiscated to avoid the Bank’s demise./4

Which bank can compete with the QFS when the QFS is free, secure, private, and stable? One of the major problems in the transition will be the use of Debit Cards for merchant purchases. Will VISA or Mastercard be available?/5
FINANCE
Loren Brichter
Loren Brichter
@lorenb
So it turns out that Google Chrome was making everything on my computer slow *even when it wasn’t running*, because it installs something called Keystone which is basically malware.

I made a website because this shouldn’t

Wired first reported on how bad Keystone was 11 years ago when they put it into Google Earth (they seem to put it in all their popular

The fact that Keystone hides itself in Activity Monitor is bizarre. (The only sign of it was excessive CPU usage of WindowServer which is a system process).

I don’t know if Google was doing something nefarious with Keystone, or a third party figured out how to (which Wired warned about). But either way, I’m not inclined to give Google-the-organization the benefit of the doubt (despite the many good people who work on Chrome)...

...since it's been a decade+ and this still hasn't been "fixed".

There is no reason for auto-update software to need to do what Chrome/Keystone was doing. It also has a long history of crashing Macs.
TECH
Steve Stewart-Williams
Steve Stewart-Williams
@SteveStuWill
THREAD: 12 Things Everyone Should Know About IQ

1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE


2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less. https://t.co/UqtS1lpw3n


3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)

(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)


4. IQ predicts many important real world outcomes.

For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3


5. Higher IQ is associated with a lower risk of death from most causes, including cardiovascular disease, respiratory disease, most forms of cancer, homicide, suicide, and accident. https://t.co/PJjGNyeQRA (N = 728,160)
LIFE


Category Partner: Enkryptopedia