Categories Crypto
A thread about man vs. machine.
https://t.co/mGRJ852xVb
Alameda won't be participating in this, but it does present a chance to explain how we think about the value of man vs. machine in our trading. https://t.co/62yGWAS1C3
— Sam Trabucco (@AlamedaTrabucco) May 26, 2020
As has been pointed out, I've been adamant that the rallies in the past month or so have been heavily fueled by rampant liquidations on both BitMEX and Binance. And they have! But they were also fueled by organic buying among U.S. investors, as has been a popular narrative.
If anything, the narratives surrounding various U.S. funds and other companies buying BTC have gotten *stronger* in the past week or two than they were around Thanksgiving. More and more funds have announced their crypto holdings or plans to acquire them.
And direct signs of all this exist. Take a look at FTX's volume monitor: U.S. trading hubs like Coinbase having more volume than normal *is* a signal that U.S. customers are doing *something*, and when BTC is going up ...
(Coinbase even crashed from "heightened activity :P).
The DOW recently announced their new crypto indices, CME is listing ETH futures, Microstrategy putting $650M into BTC, GBTC AUM continuing to balloon, these all point in the same direction, and that direction is a resounding "up" for the crypto markets.
Not financial advice
2) Overview
- LTO Network (https://t.co/LJUDzLMCb5) is a hybrid blockchain solution that connects to existing systems enabling efficient collaboration on complex and multi stakeholder processes. It is led by a great team of serial entrepreneurs.
3) - In other words, LTO gives institutions access to blockchain without requiring them to overhaul legacy systems.
- Businesses don’t want an IT overhaul, but want communication with existing systems that only share process data and updates users via their own systems.
4) - This is the power of LTO network – changing unstructured communications into structured communications and driving efficiency for traditional businesses and institutions.
5) - On December 17, 2020 LTO Network and VIDT Datalink merged sales, marketing and development resources to form a “larger organization…better positioned to serve multinationals around the globe…”
Ah yes, New Year's Eve. A time to reflect, look forward, celebrate, and throwback Long Reads Sunday style with the BEST BITCOIN TWEETS OF 2020.
Strap TF in, it's time for a thread!
👇👇👇👇
2) Let's start by going back to February.
Even before the full impact of COVID-19 kicked in, bitcoiners were thinking big about the epoch shifts we were in the midst
Welcome to the Fourth Turning. At this time, we have entered the "crisis stage" as defined by the generational shift currently in progress. Boomers are retiring, handing the reins to Gen-X, and Millennials are entering their wage-earning years. Let's look at some data.
— Hans HODL (@hansthered) February 22, 2020
3) When the markets DID start to finally react, bitcoiners were quick off the draw to point out that, whatever the risk the virus posed, the economic threat was significantly predetermined by fragility borne of decades of decisions.
THIS ISN\u2019T #coronavirus!!! \U0001f62cThis is result of ~50 yrs of Western economies consuming more than they produced, finally coming home to roost. The virus was just the pin that pricked the debt bubble & revealed the magnitude of the solvency problem. Stay safe out there \U0001f64f
— Caitlin Long \U0001f511 (@CaitlinLong_) March 9, 2020
4) Focus quickly shifted to a global dollar shortage and what it might mean across industries - The "Dollar Wrecking Ball" as @RaoulGMI put it.
Just an update from me, in case you are interested...
— Raoul Pal (@RaoulGMI) March 18, 2020
Ive just closed all short positions in equities, oil and HYG and had closed bonds a while ago. I am now 100% focussed on the on the US dollar, which is a wrecking ball.
1/
5) As every market (including BTC) crashed on the infamous March "Black Thursday," Coinbase buying told a story that would be persistent throughout the year - the bitcoin community scooping underpriced corn as others fled to
HUGELY bullish dynamics for Bitcoin right now:
— Hunter Horsley (@HHorsley) March 18, 2020
- BTC flat during HISTORIC risk-off days in markets.
- 72% on Coinbase buying.
- The Halvening is 50 days away.
- Billions in buys coming when levered longs return.
- And if 1% of >$2T+ of stimulus finds its way to Bitcoin...
2/ 4th Amendment. In theory any government search and seizure of personal information should occur only after government obtains a warrant from a judge. To get a warrant they'll need to specifically describe the thing to be searched and explain why they've suspicion of crime.
3/ The Bank Secrecy Act is a bulk financial record surveillance law that forces banks and other financial institutions (crypto exchanges included) to collect personal information from customers and report it to government without any warrant or individual suspicion.
4/ The BSA's constitutionality as a warrantless search was challenged in the 1970s and the court narrowly upheld the law (and this is important) as it was applied by Treasury at the time. Since then its application has been significantly expanded and that's been unchallenged.
5/ the cases were Shultz https://t.co/BtAfdXMSBh and Miller https://t.co/nngic7231N. The Court said that warrants are not required if government searches information bank customers have already handed over to a third party (bank). This became known as the third party doctrine.