Because not everyone knows: If Bitcoin’s price ever reaches $1m it will output more carbon than the entire US and consume 2x the entire electrical production of the US.

And it gets worse 🧵

1/8

As the price goes up it’s worth it for miners to spend more to mine a coin. Even if it costs them enormously in energy costs.

Will they? Guaranteed.
2/8
Because this has the exact same financial incentive as the drug trade.

As long as someone who wants to better their finances can make a fortune destroying a common good at least one psychopath will do that.
3/8
And Bitcoin is (largely) anonymous so they could be the PRC or North Korea but they could just as likely be warlords who invade and capture nuke plants.
4/8
There won’t be a way to stop these miners because the financial incentives are all backward and built *deliberately* so.

Bitcoin is propped up by people who don’t trust community decisions. They’ve inoculated BTC against human society.
5/8
Which means they’ve ensured that - as climate change continuously increases in criticality - we will be similarly increasingly hamstrung from using energy wisely

6/8
What can we do? Treat Bitcoin like we (should) treat the heroin trade. Folks want it, suppliers are getting foolishly rich off it, and it does absolutely no good.

Stop adding it as a checkout option like it’s not a planet-killer.
7/8
And for godsakes stop letting anyone refer to the future promise of blockchain as a beard for BTC.
If there were any other use besides burning Earth to a crisp we would have found it by now.
8/8

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MASTER THREAD on Short Strangles.

Curated the best tweets from the best traders who are exceptional at managing strangles.

• Positional Strangles
• Intraday Strangles
• Position Sizing
• How to do Adjustments
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• When to avoid
• Exit Criteria

How to sell Strangles in weekly expiry as explained by boss himself. @Mitesh_Engr

• When to sell
• How to do Adjustments
• Exit


Beautiful explanation on positional option selling by @Mitesh_Engr
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1st Live example of managing a strangle by Mitesh Sir. @Mitesh_Engr

• Sold Strangles 20% cap used
• Added 20% cap more when in profit
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• Booked loss in calls
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• Identified a reversal and sold puts

• Puts decayed a lot

• When achieved 2% profit through puts then sold