BC CRYPTO
Saved by @Jacobtldr

This "bitcoin is better than gold" statement going around once more show that bitcoiners have no clue about monetary history and what the purpose of a monetary system is. A thread.

 1- Metal standards were never inflexible; they could not in order to operate properly. Qty of metal was changed, usually lowered, to accommodate for changing economic conditions: price of metal, scarcity of coins, financial needs of economic units (state and private), etc.
2- The purpose of a monetary system is to make the rest of the economy go. It is there to accommodate financial needs. The more elastic one can design the supply, the better.
That doesn't mean that monetary creation & destruction shouldn't follow any rules & have no constraint.
3- Rules and constraint impose depend on economic system and evolve over time has we learn how to manage better the system. In a capitalist economy, the private sector is subject to the profitability constraint. We have learned from experience that this is not enough.
3 (ii) Financial stability requires a "hedge finance" constraint for most private agents: profitability should be judged on income gains, not capital gains.
In the government sector, the constraints are ressource availability and political constraints.
3 (iii) taxing, spending, financing of private sector by gov should be done with the goal of chaneling real ressources toward the societal "goods" and removing the "bads". What good and bad are is not necessarily obvious and requires broad political discussions.
3 (iv) The argument "but we don't have money" is a non-starter in these debates. Finance is flexible, debates should be on the things that are less so.

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With Bitcoin's rising price I get many people asking me my opinion about it: Here are nine tips

1) Don't take advice about Bitcoin from those with a vested interest in seeing its price rise. That's like listening to CDO dealer in 2006. When prices go up, critical thought go down

2) Bitcoin is fascinating from a tech perspective, but don't fall for the rhetoric of monetary revolution. I was among the early users of Bitcoin & actually tried to use it as 'money', but it's not a monetary system. It's a system of cyber-collectibles, priced in dollars

3) By all means pass your money to a seller of these collectibles, but don't do so under the illusion that you're engaging in rebellion, or that you're doing prudent investment. You're doing what you're doing, which is buying a collectible from someone who is taking your money

4) Unlike many other collectibles, Bitcoin has no actual features, other than the fact that it can be moved around. It has a highly innovative issuance & movement mechanism, but that's somewhat meaningless if the thing being issued and moved is featureless

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Crypto trading - some personal takeaways from 2020

Disclaimer: my job requires picking investments, at times with short/medium term view (days-months), many times with a long term view (years).

This is mostly a thread on reminders to myself relating mostly to the former.

Watch out for decisions based on fear & greed

Confirmation bias (ignoring contrary signals), anchoring bias (married to entry, trading PnL), sizing too big on low r/r trades, hesitating to buy cheap assets because "it's fallen/rallied too much".

/1

Minimize regret

Constantly question whether you have done all you could to maximize returns in the past month/quarter. Review all tools at your disposal (vol strats, momentum strats, fundamentals) but don't Dunning-Kruger yourself. There are no jack of all trades.

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You can't catch them all

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Dan Held
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1/ Fear and Bitcoin.

Whenever Bitcoin has a bull run, naysayers try to cope with missing the boat by rationalizing why it will fail through “Fear, Uncertainty, and Doubt” or what we Bitcoiners have nicknamed “FUD.”
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Altcoin Sherpa
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Quick Thread on #Altcoins/ #Altseason

Step 1: $BTC has a huge correction. Every range starts with either a pump (or dump) and then follows with a dump (or pump). In this case, #Bitcoin pumped and is now pulling back. This is


Step 2: $BTC ranges big once it finds a bottom. This will allow it to reaccumulate for a big summer run in 2021. This is HEALTHY IMO.


Step 3: Once $BTC finds a bottom and starts to grind up again, I expect $ALTS to do very very well in both alt/usd and alt/btc pairs. ALTSZN is almost always characterized by strong alt/btc pairs moving- I've already accumulated most and have done my final buying today and more.

$BTC.D typically has a very nice time during this time of the year. I was off on December prediction bc I thought $BTC was going to pull back by then but oh well! #Altcoins will start their pumping time VERY soon now.


More information on what #Altseason is and $ALTS market
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Vlad "BTCTKVR.com\u201d Costea \U0001f7e7
Vlad "BTCTKVR.com” Cos...
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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.
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