#Bitcoin #BTC - Break of lower channel support at around 16500-17000 shall take it to 1750-1800
Massive price erosion in cryptos a very likely outcome. This shall spill over to equities as well but not to same extent.
More from Harsh / 허쉬
Below 640, counts need to be revalidated. https://t.co/1e7hs0ZkxR
#BhartiAirtel #Bharti #Nifty - Chart update - Count wise we are in 5th wave starting from 254.15.
— Harsh / \ud5c8\uc26c (@_Harsh_Mehta_) May 17, 2021
Breakout from consolidation in 4th wave has come after 13 years, so expect solid move in next 3-5 years. Hold the stock and add on declines. pic.twitter.com/lC3Zsfd8vd
More from Bitcoin
We were offered a very open insight (but slightly flawed analysis) into top level policy perspective behind the crack down on selfhosted wallets.
https://t.co/1LTzrxHbgs 1/32
ECB President Christine Lagarde called for global regulation of #Bitcoin, saying the digital currency had been used for money laundering activities in some instances and that any loopholes needed to be closed. Follow #ReutersNext updates here: https://t.co/4MgFy4jnw5 pic.twitter.com/qlBtoDuZLW
— Reuters (@Reuters) January 13, 2021
'It is a speculative asset, by any account. If you look at the price movements... '
It starts with an economic price perspective and we can learn that ECB is closely monitoring this price movement as one of the many indicators.
So we are in the classic central bank frame 2/32
'Those who thought it would turn into a currency. Sorry, it is an asset not a currency.'
Here she summarises a classic debate on what is currency and what is needed for that. Based on the holy three: unit of account, means of payment, store of value. 3/32
The summary is classic, but too narrow and does not incorporate the wider financial history viewpoints on money, currencies and the way we pay. 4/32
ECB overlooks the de facto unit of account role of bitcoin, having been used to 200 years of having cash around whic is both the unit of account and a means of payment. 5/32
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.
Thus less use for currencies as people can more easily store their wealth into assets and easily trade them.
— Pierre-Yves Gendron (@pierreyvesg7) February 24, 2021
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
— Mayank Narula (@Mayank_Narula1) March 5, 2022
Pending RSI divergence on monthly chart which requires a dip under 13805 to get resolved.
But monthly RSI divergences can go on for years before the resolution.
Best case scenario will be panic dump over next few months. pic.twitter.com/hi67hMg9sZ
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2/ The Magic Question: "What would need to be true for you
1/\u201cWhat would need to be true for you to\u2026.X\u201d
— Erik Torenberg (@eriktorenberg) December 4, 2018
Why is this the most powerful question you can ask when attempting to reach an agreement with another human being or organization?
A thread, co-written by @deanmbrody: https://t.co/Yo6jHbSit9
3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.
“Gun to the head—what would you decide now?”
“Fast forward 6 months after your sabbatical--how would you decide: what criteria is most important to you?”
4/ Other Q’s re: decisions:
“Putting aside a list of pros/cons, what’s the *one* reason you’re doing this?” “Why is that the most important reason?”
“What’s end-game here?”
“What does success look like in a world where you pick that path?”
5/ When listening, after empathizing, and wanting to help them make their own decisions without imposing your world view:
“What would the best version of yourself do”?
Beautifully read: why bookselfies are all over Instagram https://t.co/pBQA3JY0xm
— Guardian Books (@GuardianBooks) October 30, 2018
THEY DO READ THEM, YOU JUDGY, RACOON-PICKED TRASH BIN
If you come for Bookstagram, i will fight you.
In appreciation, here are some of my favourite bookstagrams of my books: (photos by lit_nerd37, mybookacademy, bookswrotemystory, and scorpio_books)