BC BITCOIN
Saved by @Alex1Powell

$BTC: Two Bitcoin FUDs to address this Thanksgiving weekend:

1. China PlusToken FUD: Old news. Please see linked thread.

2. U.S. Treasury FUD: Read thread below...

 1/ These news are much more relevant, as they imply severe trade-offs for people who want to keep their bitcoins undoxxed, with the cost and risks of doing so. I would not disqualify the tweet as mere FUD in the sense that what he posted is false. It should be taken seriously.
2/ For all we know, his decision of making it public before TG weekend may come out of the urgency of informing CT of a poignant anti-Bitcoin move by a Trump administration trying to cut lose ends before leaving office—not just "price manipulation" as I've seen suggested around.
3/ It implies the acceleration of a process already planned for for months in advance, not something he just came up with to "crash the market."
4/ In practicality, assuming this passes, it will have two major consencuences:

a. Armstrong's analysis is correct. And I would go further in saying, this regulation would leave the U.S. severely handicapped to continue to be the leader in the cryptocurrency industry worldwide.
5/ b. It would bifurcate major market actors into two camps. For the sake of simplicity, I´ll call the former the "Conservationsists" and the latter the "Integrationists."
6/ Conservationists are mostly old Bitcoin money, big early-adopter HODLers who believe in Bitcoin's value proposition as a whole, including scarcity, pseudonymity, untraceableness, and unconfiscatableness.
7/ Integrationists are mostly new Bitcoin money, insitutions and HNWIs who value only Bitcoin's scarcity and its capacity to accrue value over time. They also believe that BTC needs to be integrated into the legacy financial system.
8/ Frankly...

The former see the value of Bitcoin as a mechanism to protect individuals against government overreach, as well as save and invest their property in a permissionless manner.
9/ The latter would like to see it taxed to build roads, it seems. They like ETFs and already protect their investments within safe haven jurisdictions.
10/ What does this mean for price direction long-term? In my opinion nothing changes...

Conservationists will continue to HODL (with the added incentive of keeping their coins burried for no-one to find, so even less sell pressure there).
11/ Integrationists will see this as expected or needed or "a trade-off" and continue to buy and hold.
12/ What does this mean in terms of narrative in public debate?

Privacy and ownsership, even more so than price, will be the most contested subjects in Bitcoin in the next few years.
13/ To clearify, a lot of people don't neatly fall in either of camps. Some are apathetic, undecided, a certain mix of both. Also, let's not confuse all major players with insitutional or legacy pedigree as Integrationists:
14/ Jack Dorsey, Cathie Wood, and Michael Saylor, for example, don't strike me as Integrationists at all, as they have supported Bitcoin's entire value proposition in the past. Notice how two of them are also OGs.
15/ I'll leave examples of Integrationists diguised as Conservastionists for you to come up with...
Fin/ In summary, the fundamentals remain the same, so in my view even if we continue correcting ($14k, 12k, or whatever), the cause would be simply out of major market actors taking profits with the aim to buy cheaper.

More from Bitcoin

satoshi0x
satoshi0x
@MasterGrimaldi
The is no Devcoin Gold yet. But then again, we've never been one to "peg" to anything. I came across an interesting article about 'recreating' addresses with Bgold that @bitcoincoreorg cut out since 0.13.0 - perhaps one day we can do a similar thing in future Devcoin software :)


https://t.co/cv4UqsaVAK

That being said I hold some Doge @blockio in an "A-" address myself after 0. 1. "9-" versions :). Don't believe Bitcoin Core the Coin (Utility) is the only visible value on Core chain. Color me crazy. I believe in script. And FOSS that is used to export📜


And that's just a guy @MeniRosenfeld who put his identity and ideas out in the public to build a Web of Trust back when the web was much less of a safe place. His identity at stake and the implementation of a branch in source code by another unsung hero @killerstorm reveals value

Some of those who set up our bright future quietly implemented it in a branch on the main source code before it was officially the Bitcoin Core main repository, before a "Bitcoin Core" entity existed

Just because Bitcoin Core nodes dominate and do not read "smart" colored satoshis or display them, doesn't mean they do not exist on chain. The example of recreating P2WSH-over-P2SH address from BTC https://t.co/ZWSP2MO5bY wallets in Bitcoin Core Gold I shared proves -rescan's $
BITCOIN
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
Advertisement
Meltem Demirors
Meltem Demirors
@Melt_Dem
1/ #Bitcoin FUD-busting time!

claim: bitcoin ownership is heavily concentrated.

@business published an article claiming "2% of accounts control 95% of all Bitcoin" 🤣

truth: the facts, my friends, simple don't line up. let's dive in!

2/ interrogating on-chain addresses is tricky.

address =/ account.

one person can control multiple addresses.

one address can hold bitcoin belonging to multiple ppl.

exchanges and trading firms will have addresses with large balances that represent client funds.

3/ the fine folks @glassnode published an excellent analysis of on-chain address balances in January

the ownership distribution of bitcoin among wallets is actually much more diverse than one might expect.

full piece here:
https://t.co/n5IdIQdNoA


4/ 31% of BTC is held in addresses not identified as exchange wallets.

these are likely institutions, funds, custodians, and OTC desks.

our analysis at @CoinSharesCo indicates >15% of all bitcoin is held in third party custody, including @coinbase and our own @KomainuCustody

5/ in fact, between asset managers @Grayscale ($36B in BTC) and our @xbtprovider ($4B in BTC), 4% of bitcoin is locked up by fund providers and asset managers!

our @CoinSharesCo research team publishes an EXCELLENT weekly report on fund flows and AUMs -
BITCOIN
Kostas \U0001f468\u200d\U0001f4bc \U0001f4c8 \U0001f4b8
Kostas 👨‍💼 📈 💸...
@itsKostasWithK
Tulips, the #Bitcoin of the 17th century

How a pandemic, FOMO, and speculation made a flower worth the same as a mansion

/THREAD/


1/ During the beginning of the 1630s in the Netherlands, tulips were difficult to cultivate and preserve.

This made them a luxury good reserved for the rich and affluent of the upper class living in mansions with big gardens.


2/ The tulip market was not organized nor regulated, as other trades, which made it easy for professional growers to enter it.
Due to the international trade expansion, the growers starting cultivating rare varieties, to achieve higher prices.

3/ The biggest change occurred when florists used tulip bulbs as speculative assets.

The market expansion led to forward bulb-purchase contracts, thus enabling trading during the entire year, and not just during the summer months when tulips bloom.


4/ Easy loans and credit for forward contract purchases led many to enter the market since not much capital was required.

People from the lower economic class (maids, servants, craftsmen) could not resist the temptation for some quick profits and entered the speculative market.
BITCOIN
Andreas M. Antonopoulos
Andreas M. Antonopoulo...
@aantonop
A more detailed explanation of the whole

"A double-spend broke Bitcoin" FUD that was circulated by an irresponsible publication.

1/

There was a chain re-organization in the Bitcoin blockchain. This is a common occurrence that is part of Bitcoin's normal operation. It is a result of decentralized consensus under Proof-of-Work. All PoW chains do this.

2/

Two blocks were mined almost simultaneously, competing for the same height, meaning that they had the same parent block and were trying to extend the chain of the same block

3/

Only one can ever succeed in the long run. It is possible that different nodes and miners see one or the other block first and assume it is the winner. This is also normal in a decentralized consensus algorithm

4/

Eventually, within an average of 10 minutes another block is mined. This new block has as its parent *one* of the two competing blocks. Which one? Whichever one the miner saw first and assumed to be the winner.

The new block extends the chain, resolving the issue.

5/
BITCOIN , DOUBLE

You May Also Like

Kirsti Miller
Kirsti Miller
@KirstiMiller30
@FionaPearman @ScottMorrisonMP Morrison is our statue of unempathic neoliberalism - erected by evangelical and corporate Australia to celebrate their victory over compassion, equality and secular humanism. 

Hopefully it gets pulled down like the statues of dubious heroes of oppression from an earlier age.


@ScottMorrisonMP The two-party-preferred system in 
Australia politics isn’t working for people, and it sure isn’t working for the planet.

@ScottMorrisonMP My collapse of faith in our democracies isn’t an accident. It’s one of the central victories of the neoliberal project, delivered through two generations of privatisation, outsourcing and deregulation, underfunding of government services (locked in by tax cuts),...

@ScottMorrisonMP restricting freedom of information, targeting whistleblowers and raiding the media who report on them, delegitimising and gagging public interest advocacy, and criminalising protest.

@ScottMorrisonMP Politics in Australia today relies hugely on the fact that most people don’t know most of what’s going on so as to get away with stuff that couldn’t be done under real scrutiny we have seen a clear example of this with the National Coronvirus Cabinet.
FOR LATER READ
\u2745\u1710\u170b\u1713\u170e
❅ᜐᜋᜓᜎ...
@uglyluhan
First thread of the year because I have time during MCO. As requested, a thread on the gods and spirits of Malay folk religion. Some are indigenous, some are of Indian origin, some have Islamic


Before I begin, it might be worth explaining the Malay conception of the spirit world. At its deepest level, Malay religious belief is animist. All living beings and even certain objects are said to have a soul. Natural phenomena are either controlled by or personified as spirits

Although these beings had to be respected, not all of them were powerful enough to be considered gods. Offerings would be made to the spirits that had greater influence on human life. Spells and incantations would invoke their


Two known examples of such elemental spirits that had god-like status are Raja Angin (king of the wind) and Mambang Tali Arus (spirit of river currents). There were undoubtedly many more which have been lost to time

Contact with ancient India brought the influence of Hinduism and Buddhism to SEA. What we now call Hinduism similarly developed in India out of native animism and the more formal Vedic tradition. This can be seen in the multitude of sacred animals and location-specific Hindu gods
RELIGION
Advertisement
Nodutdol | \ub178\ub463\ub3cc
Nodutdol | 노둣돌...
@nodutdol
Today is “Korean American Day”.

#OTD in 1903, the first large group of Korean immigrants arrived in US-conquered territory. [Thread]


102 Korean men, women, and children arrived in Honolulu aboard the SS Gaelic to work in Hawaii’s sugar plantations. By 1905, Koreans comprised 11% of Hawaii’s plantation workforce—around 7000 people.


This first wave of Korean immigrants arrived amid sharpening imperialist rivalry in the Pacific. Korea had slowly been losing its independence for decades, and by 1903 was just two years away from becoming a protectorate of Japan.

At the same time, the US was consolidating its position in the Pacific, annexing Hawaii, Guam, and the Philippines in 1898, and partitioning Samoa in 1899.

(Pictured: US troops in the Philippines)


US missionaries colluded with the Hawaiian Sugar Planters Association to secure a new, cheap labor force for Hawaii’s sugar fields. Many of the Koreans who arrived in Hawaii from 1903-1905 were Methodists.
WORLD
Nodutdol | \ub178\ub463\ub3cc
Nodutdol | 노둣돌...
@nodutdol
Today is “Korean American Day”.

#OTD in 1903, the first large group of Korean immigrants arrived in US-conquered territory. [Thread]


102 Korean men, women, and children arrived in Honolulu aboard the SS Gaelic to work in Hawaii’s sugar plantations. By 1905, Koreans comprised 11% of Hawaii’s plantation workforce—around 7000 people.


This first wave of Korean immigrants arrived amid sharpening imperialist rivalry in the Pacific. Korea had slowly been losing its independence for decades, and by 1903 was just two years away from becoming a protectorate of Japan.

At the same time, the US was consolidating its position in the Pacific, annexing Hawaii, Guam, and the Philippines in 1898, and partitioning Samoa in 1899.

(Pictured: US troops in the Philippines)


US missionaries colluded with the Hawaiian Sugar Planters Association to secure a new, cheap labor force for Hawaii’s sugar fields. Many of the Koreans who arrived in Hawaii from 1903-1905 were Methodists.
WORLD
\uc2e0\ub150\uc758\uc0ac\ub098\uc774
신념의사나이...
@Belposto_korea
What does Gold- Backed mean?
The Chinese Elders have been accumulating gold for hundreds of years. They are gold-rich. Some of their gold was loaned to the Central Banking System so that it could fund the rebuilding of Europe after the many war-torn years from World Wars I and II

BTW they never returned it but used it to start their financial empire to enslave humanity. This is the Central Bank Banking System./2

Maybe this is why one of the conditions to use their gold for the QFS is the demise and full disclosure of the Central Bank banking system before the RV can take place./3

The Elders have caves of hidden gold and are now using it to gold-back the currencies in the QFS for every country in the world. It is important to understand that the QFS and the money it is about to release is all brand-new currency./4

It was designed by the Alliance to fund the new financial system that will reset all Currencies of the world to Gold-Backed currency./5
SOCIETY