BC BITCOIN
Saved by @Mollyycolllinss

With Philadelphia now up, the billboard photo thread that teaches those about #Bitcoin as an alternative to our broken financial system is complete

Those in the 12 Federal Reserve Bank cities who see them are directed to the thread below as copied from @BTCvsFED ⬇️

 Not long ago, the dollar was backed by gold

This meant you could redeem your dollar for gold & the government had to have enough gold to match the number of dollars they printed

“The Gold Standard” ended in 1971 b/c the US ran low on gold & needed more $ for war & welfare
Without a cap on how much money could be printed, The Federal Reserve (USA’s central bank) was now free to create unlimited quantities of dollars

When the Fed prints money, inflation occurs & prices go up b/c all dollars are worth less
If your earnings don't keep up w/ the rate of inflation the purchasing power of your dollars melts away

Imagine the economy is a pizza & The Fed gives you a slice ($1)

When printing new money, they cut your🍕into more pieces to give out
Yes, you still have a slice ($1) but you’re hungrier b/c that $1 doesn’t go as far

Many Americans hold dollars b/c they can’t afford a home & w/ bills to pay they can’t risk the stock market

Meanwhile, the wealthy move $ into real estate & other assets that better hold value
This increases the wealth gap. Then, a pandemic hits. The Fed prints more money than ever before

The new money is given to select individuals and businesses. You wait for Congress to decide if you deserve a stimulus check
Those who receive the new money spend it causing prices to inflate before you get your money

This process where money flows more easily to insiders is known as the Cantillon Effect and it makes the wealth gap grow even further
So much trust is required in this financial system

You have to trust those in power to print money for the right reasons

You have to trust they distribute it fairly

And…you're supposed to trust their updates on how the economy is doing
The Consumer Price Index (CPI) is the go-to measurement for inflation. It tracks the changes in price of a set # of goods over time

But some argue the type of goods chosen hides the true rate of inflation

We know inflation is happening but how bad is it?
In addition to rising prices, inflation means businesses cut costs in other ways to keep up

They might shrink the portion size or use less healthy ingredients

There are so many ways this financial system can hurt you
What if you don’t agree w/ why money is being printed?

What if you don’t want to be last to receive newly printed money?

What if you don’t trust the data the government provides on the health of our economy?

Bitcoin gives you an out
You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete - Bucky Fuller

Lots of protesting lately yet not much change. A protest doesn’t have to be in the streets. BTC brings change via your wallet
I made these billboards b/c institutions, Wall St and people w/ a lot of money are buying bitcoin causing the price to rise

I don’t want the average citizen to get left behind

You can buy or earn a small fraction of a bitcoin to start
Bitcoin restores power to the individual. No longer must you rely on banks to do the right thing when they’ve proven to be unreliable

You are part of a growing, global movement that brings about change by addressing the root cause of the problem
The thread pinned @BTCvsFED goes on to teach about how to get #bitcoin and what to do once you have it

This project was inspired by many including @iamthecharacter @aiww @gladstein @stacyherbert @bitcoinzay @aantonop @maxkeiser @matt_odell @RealRossU @MartyBent @RussellOkung...
@mrcoolbp @AlenaSatoshi @danheld @APompliano @chamath @nic__carter @jimmysong @pierre_rochard @lopp @nvk @JackMallers my Mom and many more

It was funded by selling prints of the artwork seen on the billboards

Appreciate any help in getting the word out. DMs open!

More from Bitcoin

balajis.com
balajis.com
@balajis
The defi matrix

As each asset class goes on-chain, it can be stored in a digital wallet. And it can be traded against other such assets. Not just cryptocurrencies, but national digital currencies, personal tokens, etc.

We’re about to enter an age of global monetary competition.

The defi matrix is the table of all pair wise trades. It’s the fiat/stablecoin pairs, the fiat/crypto pairs, the crypto/crypto pairs, and much more besides.

Uniswap-style automatic market making for everything. Every possession you have, constantly marked to market by ~2040.

More liquidity, less currency?

This is an interesting point. Cash doesn’t make you money. In fact, it can lose you money in an inflating environment.

Reliable, 24/7 mark-to-market on everything is hard — but if achieved, means less % of assets in cash.


AMMs boost BTC. Here's why.

- All assets trade against all assets in the defi matrix
- Automated market makers give liquidity for rare pairs
- Everything is marked-to-market 24/7
- Value of cash drops, as you can liquidate instantly
- The new no-op is to keep your assets in BTC

Basically, automated market makers like @Uniswap boost BTC in the long term, because they allow *everything* to be priced in BTC terms, and *anyone* to switch out of BTC into their asset of choice.

Though in practice this may mean WBTC/RenBTC [or ETH!] rather than BTC itself.
BITCOIN
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
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Dan Held
Dan Held
@danheld
1/ The Price of Bitcoin

- Why price is entirely what matters
- How the price helps build Bitcoin

A thread👇

2/ Marketing viral loop

“A viral loop is a mechanism that drives continuous referrals for continuous growth.

It’s how you drive your existing customers to refer others to your brand, and in turn, get those new customers to tell even more people about you." - @ReferralRock

3/ Most of us heard about Bitcoin in 2013, 2017, when friends and family were talking about the rapid price increase. It’s through this viral loop that Bitcoin grows in adoption.

4/ The price is that signal to folks that Bitcoin is interesting, solves a problem, and that others are recognizing it as a new money. If Bitcoin’s price had stayed at $100 none of us would be here. While there is volatility, we keep seeing higher lows = long term trend upwards.

5/ Satoshi built a viral loop into Bitcoin.

“As the number of users grows, the value per coin increases. It has the potential for a positive feedback loop; as users increase, the value goes up, which could attract more users to take advantage of the increasing value.” - Satoshi
BITCOIN
Dan Held
Dan Held
@danheld
1/ Satoshi’s Vision™ is a silly endeavor, as it doesn’t matter what it was, we are where we are now. However, those pushing the “Bitcoin was first made for payments” narrative insist on cherry-picking sentences from the white paper and forum posts to champion their perspective.

2/ The following tweetstorm is a categorical repudiation of this tired narrative. Bitcoin was purpose-built to first be a Store of Value (SoV), a thread:

3/ How do we determine Satoshi’s intention? We need to look at his ideology, description of functionality/architecture, timing, and audience. Let's start with how Satoshi describes the problem Bitcoin solves. In his first public comms after the whitepaper, in the first paragraph:

4/ “The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi

5/ He later expands on that Libertarian thought in his other writings:

“[with Bitcoin] we can win a major battle in the arms race and gain a new territory of freedom for several years.” — Satoshi Nakamoto
BITCOIN
Mayank Narula
Mayank Narula
@Mayank_Narula1
I will be a buyer under 13800 levels, but depending upon the reversal on smaller timeframe.
BITCOIN

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What are Exponential Moving Averages?

EMA's are a type of moving average that places a greater weight on more recent data points.

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EMA's adjust with respect to chart time frame.

What is VWAP?

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Calculation: (Price x # of shares traded) / total shares traded

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- 8
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While I do utilize the 50EMA, the 8 & 21 EMA are most important for this strategy. Some people use the 9 and 20 which are essentially the same thing. REMEMBER: EMA'S adjust with respect to time frames.

A+ Set Up Criteria - (What I look for)
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