BC BITCOIN
Saved by @Shubham51ngh

For those who were trading in 2017 or earlier bull markets this may be obvious, but these kinds of corrections are typically driven by overleveraged longs, not whales dumping on you. That hasn’t started yet. Let me break down why it happens and why it is worse on the weekends.

 I should probably have data to back this up, but I haven’t kept up to date with the latest trading data so much of this is based on intuition and experience trading through 2016-2018. If you have data that invalidates this please provide it, happy to be wrong here!
Firstly in an early bull market you have some OG holders taking profit around previous ATH, they have “learned their lesson” and are trying to not get rekt like last time. Once they finish taking some profits or hedging they are riding this up to multiples of previous ATH.
For example I sold around 5-10% of my ETH into stables between $500-$1200, over $1,200 you would need to claw it out of my cold dead hands before we hit $3k. If we don’t get there this cycle (we will) then I will just keep holding. I know a lot of people who did the same.
The problem with this is that the new money coming in and pushing the price up is highly leveraged, and the people with the most conviction are mainly holding and so while they might buy some dips they probably don’t have the dry powder to soak up huge liquidated positions.
That is why you get these very sharp corrections in a bull market, it is not people who held for years suddenly capitulating in a directional bull market, it is just longs being liquidated or delevered.
The most interesting thing about this BTC movement is that it appears to have been kicked off by institutional buying. If that is true what we can guess is they are not buying with leverage, and they are convicted enough they are not unwinding a position based on a -5% move.
That is why all of these deleveraging events keep getting bought up, but @fintechfrank is right, tomorrow (if we don’t bounce by then) will be a big test of that theory. If this dip is bought up Monday morning US time that would be strong evidence in favour.
Many of you remember this gem of a tweet: https://t.co/wpKpYWxlBp the question is why was I so wrong? Mainly because I kind of gave up on the institutions are coming narrative in 2018.
If institutions have actually arrived, we should see lower volatility during weekdays and high volatility on the weekends which over the last few weeks has started to become a pattern.
There is also a chance there is some unexplained magical process going on that lags the halvening by like six months that causes BTC to rally massively. I was never 100% convinced of this, but I mean three times now…
I’m confident the DeFi rally of summer 2020 would have picked up steam again this year without a massive BTC rally adding tailwinds, but this is obviously hugely helpful to both ETH and DeFi generally.
The key takeaway here is that if you are a new entrant to the market or you have been here for a while don’t be spooked by a -10% daily candle. While we all carry a little PTSD from late the 2018 capitulation it is important not to overreact to intraday moves, or even intraweek.
Make sure you are neither over-leveraged or over-exposed so you can comfortably ride out a few volatile days!

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The Bitcoin Rabbi
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@thebitcoinrabbi
Bitcoin: A Peer-to-Peer Electronic Cash System

Satoshi Nakamoto
[email protected]
https://t.co/G8BUvnF9nT

Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial

institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps

transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came

from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure.

Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone. 1. Introduction
Commerce on the Internet has come to rely almost exclusively on financial
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Dan Held
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@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
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Ugly OldGoat
Ugly OldGoat
@UglyOldGoat1
The #Bitcoin fundamentals of four generations of inflation, entitlements, and regulations are separate and apart from #Bitcoin the technological innovation. If we had sound money there would be little demand for Bitcoin. (1/13)


The notion that gold futures hold down the physical gold price or subjects the gold price to long-term manipulation is a canard. CME gold futures deliveries are settled with warrants meeting exact specifications met by approved refineries, carriers, and warehouses which (2/13)

ensures the integrity of delivery apart from the exchange. https://t.co/CpV1OBSsAT One need look no further than the 1980 Hunt Silver fiasco which illustrates how deliverable futures contracts provide for the discovery of an untapped silver supply resting in people's homes.(3/13)

Not so for Bitcoin. The CME Bakkt Bitcoin contract is for Bakkt Bitcoin. It is not Bitcoin. Bakkt Bitcoin is a cash-settled monthly futures contract. While the Bakkt Bitcoin has geographically storage of private keys, they are not your private keys. (4/13)


Not your keys, not your bitcoin. The Bitcoin Warehouse is an internal ledger The internal ledger operates separate and apart from the Bitcoin blockchain. The only interaction with the public blockchain is during the deposit of bitcoin into the Bakkt Warehouse and the (5/13)
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Piyush Chaudhry
Piyush Chaudhry
@piyushchaudhry
#Bitcoin has completed a Zig Zag formation from it's inception.
Break below Orange Trendline would confirm the termination.
Post that it can correct to the shaded zone by the given time frame.
It's been a major surprise that it all transformed into a Zig Zag and not an Impulse.


Other Technical factors:
• An H&S breakdown
• Break below Anchored VWAP from March 2020 Lows
• Volume Distribution
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Simon Lelieveldt
Simon Lelieveldt
@finhstamsterdam
Ok, so what is the significance of the @lagarde statement on 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


'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
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SRI MOOKAMBIKA DEVI, KOLLUR (KAR)

There was an Asura, Kaumasura, who was doing penance to please Shiva and get a boon. To prevent him from asking for a boon, Devi Saraswati made him dumb (hence called Mookasur)
Later, Adi Parashakti slayed him and came to be called Mookambika.


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So Devi stayed here and merged with the lingam. The place came to be called Mookambika Kshetram.
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Tip from the Monkey
Pangolins, September 2019 and PLA are the key to this mystery
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2. A jacobin capuchin dangling a flagellin pangolin on a javelin while playing a mandolin and strangling a mannequin on a paladin's palanquin, said Saladin
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https://t.co/CYtqYorhzH
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Sri Gurubhyo Namah.
Some tweets on Adi Shankaracharya and in particular the Guru Parampara of @sringerimath. [I had done this series earlier 5 years ago on account of Shishya Sweekaram].


Adi Shankara established the Sringeri Peetham as the 1st of 4 amnaaya peetams.

The four being
1. Sarada Peetam at Sringeri.
2. Govardhana Peetam at Puri
3. Kalika at Dwaraka
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He installed his 4 most prominent shishyas as heads of the peetams.

Sureshwaracharya was assigned to Sringeri as its head.

Sringeri is a corruption of Rshyashrunga giri.

Rshyashrunga maharshi [and his father Sri Vibandhaka Maharshi] did their tapas at this place.

It is at Sringeri that Shankara spent 12 of His precious 32 years!!

That gives you and idea how much He loved this place.

Rshyashruga maharshi had a horn on his forehead, a result of being born to a deer. His mere presence was enough to shower rains!!

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Keep dwelling on this:
Further Examination of the Motif near PRRA Reveals Close Structural Similarity to the SEB Superantigen as well as Sequence Similarities to Neurotoxins and a Viral SAg.

The insertion PRRA together with 7 sequentially preceding residues & succeeding R685 (conserved in β-CoVs) form a motif, Y674QTQTNSPRRAR685, homologous to those of neurotoxins from Ophiophagus (cobra) and Bungarus genera, as well as neurotoxin-like regions from three RABV strains

(20) (Fig. 2D). We further noticed that the same segment bears close similarity to the HIV-1 glycoprotein gp120 SAg motif F164 to V174.
https://t.co/EwwJOSa8RK


In (B), the segment S680PPRAR685 including the PRRA insert and highly conserved cleavage site *R685* is shown in van der Waals representation (black labels) and nearby CDR residues of the TCRVβ domain are labeled in blue/white
https://t.co/BsY8BAIzDa


Sequence Identity %
https://t.co/BsY8BAIzDa
Y674 - QTQTNSPRRA - R685
Similar to neurotoxins from Ophiophagus (cobra) & Bungarus genera & neurotoxin-like regions from three RABV strains
T678 - NSPRRA- R685
Superantigenic core, consistently aligned against bacterial or viral SAgs
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