BC CRYPTO
Saved by @CodyyyGardner

An ELI5 on #Bitcoin.

Think of Bitcoin as a startup founded in 2008, created by a guy named Satoshi Nakamoto, initially bootstrapped with his personal capital. No VC funding; just electricity.

His product? An unobtainium.

1/7 🧵

 Bitcoin, an unobtainium, is an intangible, rare material, that allows you to store value across decades and generations. It's resistant to confiscation; censorship; theft by inflation; and attacks by corporations, governments, or even aliens - as in Avatar (2009 film).

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In order to possess this rather unobtainable material, you must have a 78-digit random number, also commonly represented as a set of 24 words. Never reveal this to anyone. Ever. Write it down on a piece of paper or etch it on steel; then take it to the grave.

3/7
Bitcoin can be teleported across space (with on-chain transfers) and time (using timelocks); without the possibility of intercepting it in transit. It's either with you or with the counterparty — there's no intermediate state.

It's not magic; simply laws of thermodynamics.

4/7
Satoshi stepped down as the CEO of Bitcoin in 2011. Who runs it today? No one, and everyone, at the same time. It has no board of directors. It's just a set of mathematical equations, unfailingly enforced by very strong network effects. There's no known way of stopping math.

5/7
Today, it's a melting pot of bleeding-edge engineering and research, with hundreds of developers working on it for free. Each day, Bitcoin gets harder, smarter, and more secure; constantly evolving, and self-healing. True anti-fragility at work.

https://t.co/cI6MkklbZS

6/7
When you buy Bitcoin, you're using a product, but also buying equity in its success/failure. The price depends on how the market values its properties, and how difficult it is to produce more of it. It may be a passing fad or a very important feat of the human civilisation.

7/7
This is years of learnings marshalled in a few tweets. I learnt everything from:

@PrestonPysh @real_vijay @Breedlove22 @jimmysong @saifedean @michael_saylor @stephanlivera @100trillionUSD @pierre_rochard @RaoulGM @matt_odell

Go follow them!

For memes, follow @udiWertheimer.
Tagged the wrong Raoul. 🤦

The real one: @RaoulGMI

More from Crypto

Garrett Hughes
Garrett Hughes
@_garretthughes
1. Ultimate blockchain, NFT and crypto learning thread 👇

(warning 100's of hrs of content)

2. @CalBlockchain 's Spring 2021 fundamentals course: slides and

3. @tferriss @naval and @NickSzabo4 's podcast about crypto and

4. Similar one to previous but @tferriss, @naval and @VitalikButerin 's podcast on scaling, ETH, NFTs and

5. @a16z Crypto startup
CRYPTO
Jonty Wareing
Jonty Wareing
@jonty
Out of curiosity I dug into how NFT's actually reference the media you're "buying" and my eyebrows are now orbiting the moon

Short version:

The NFT token you bought either points to a URL on the internet, or an IPFS hash. In most circumstances it references an IPFS gateway on the internet run by the startup you bought the NFT from.

Oh, and that URL is not the media. That URL is a JSON metadata file

Here's an example. This artwork is by Beeple and sold via Nifty:

https://t.co/TlJKH8kAew

The NFT token is for this JSON file hosted directly on Nifty's servers:

https://t.co/GQUaCnObvX


THAT file refers to the actual media you just "bought". Which in this case is hosted via a @cloudinary CDN, served by Nifty's servers again.

So if Nifty goes bust, your token is now worthless. It refers to nothing. This can't be changed.

"But you said some use IPFS!"

Let's look at the $65m Beeple, sold by Christies. Fancy.

https://t.co/1G9nCAdetk

That NFT token refers directly to an IPFS hash (https://t.co/QUdtdgtssH). We can take that IPFS hash and fetch the JSON metadata using a public gateway:

https://t.co/CoML7psBhF
CRYPTO
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V.H.
V.H.
@Varg_88
Lots of people are sleeping on one the biggest things @quant_network is currently involved in-ODAP (Open Digital Asset Protocol).

So what is exactly #ODAP and why this makes $QNT one of the most significant and, regarding #crypto mcap, undervalued projects?

Time for a THREAD⬇️


1/ODAP is the protocol for communication between gateways, primarily with an enterprise focus.
So banks, central banks etc. would run a gateway in Overledger Network and ODAP would be the protocol for gateways to communicate with each other in a secure and trustless manner. $QNT


2/ #ODAP Interfaces are the open source connectors that will connect a gateway to #blockchains and any existing network / API. That is based on the standards from work done at ISO TC 307 which 57 countries are working towards.
$QNT CEO Gilbert Verdian is the founder of TC307.


3/We know from the submitted drafts via #IETF (the Internet Engineering Task Force) $QNT is working on #ODAP with:

✅@MIT

✅@intel

but, there’s more to the story as we found out from Gilbert that US Government, Juniper, payment and telecom companies are also there.


4/So how it all started with #ODAP?
Let’s go back to $QNT CEO Gilbert Verdian’s interview with Santiago Velez on #RealVision (October 14th) and try to put all the pieces of the puzzle together.
I’ll forward his words ⬇️
CRYPTO
Vlad "BTCTKVR.com\u201d Costea \U0001f7e7
Vlad "BTCTKVR.com” Cos...
@TheVladCostea
I usually stay away from price predictions, but this time I couldn't help it. Just published "10 reasons why bitcoin will hit $100.000 in 2021".

Share it with a normie friend, maybe he/she will understand the value proposition of

Reason no. 1: during its 12 year-old existence, Bitcoin has performed a lot better as a store of value than gold.

Reason no. 2: Bitcoin is easier and less expensive to transfer than gold. This one is pretty self-explanatory, as gold is heavy and expensive to secure.

However, I believe that we should look up to gold a lot more often & look down to USD less

Reason no. 3: Bitcoins can be carried across borders a lot easier than gold and cash.

It's simple, really. With only a general-purpose electronic device (phone, laptop), piece of paper, or even 12 words that you memorize, you can move your wealth in a different country.

Reason no. 4: Bitcoin transactions cannot be censored.

In a world where PayPal and Visa can dictate your policy as a business and can shut you up from expressing political opinions, Bitcoin has a lot of value.
CRYPTO
\u26a1\ufe0f TUNEZ 2000 \u26a1\ufe0f
⚡️ TUNEZ 2000 ⚡️...
@cryptunez
TRIANGLE MASTERCLASS - a thread.

what's the simplest, most effective method of trading a market that trends as hard as cryptocurrencies?

trendlines.

one trendline on its own is strong, but when you put two together you quickly realize just how powerful this simple tool can be.


i've been using triangles for as long as i can remember.

it seems dumb, and almost counter-intuitive to approach such a complex game like trading with such a simple approach like shapes...but maybe when markets start acting stupid its okay to dumb down our approach.

look, not all triangles are the same.

anybody can draw some lines on a chart any way they'd like. sometimes, we let our bias affect our charts rather than the other way around.

i personally have done this more times than i can count.

you see...triangles (and analysis as a whole) is not necessarily intended to make trading easier as much as it is to make trading simple.

you want a fluid bias that can change easily, rather than one relying on 10 steps of conflicting confirmation before entering a new trade

trendlines enable us to maintain a fluid bias.

i mean, how much simpler can it be than "above this line bullish, below this line bearish" ? 😂

one trendline on its own can be enough to make a good trade, but when you put two together it can turn a good trade into a great one.
CRYPTO , PSYCHOLOGY

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Noah Smith
Noah Smith
@Noahpinion
1/OK, data mystery time.

This New York Times feature shows China with a Gini Index of less than 30, which would make it more equal than Canada, France, or the Netherlands. https://t.co/g3Sv6DZTDE

That's weird. Income inequality in China is legendary.

Let's check this number.

2/The New York Times cites the World Bank's recent report, "Fair Progress? Economic Mobility across Generations Around the World".

The report is available here:

3/The World Bank report has a graph in which it appears to show the same value for China's Gini - under 0.3.

The graph cites the World Development Indicators as its source for the income inequality data.


4/The World Development Indicators are available at the World Bank's website.

Here's the Gini index: https://t.co/MvylQzpX6A

It looks as if the latest estimate for China's Gini is 42.2.

That estimate is from 2012.

5/A Gini of 42.2 would put China in the same neighborhood as the U.S., whose Gini was estimated at 41 in 2013.

I can't find the <30 number anywhere. The only other estimate in the tables for China is from 2008, when it was estimated at 42.8.
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WORLD OF SANATAN DHARMA
WORLD OF SANATAN DHARM...
@world_sanatan
WHY BABUR NEVER TRIED TO ATTACK SRI KRISHNADEVARAYA ?

A🧵u must read

It is very well known that Babur considered Krishna Dev Raya as the strongest ruler of the entire subcontinent, and Vijayanagar empire the strongest during that time in India.

1/10


The Vijayanagar empire reached its peak during 1509-1529 around the reign of Krishna Dev Raya.

Vijayanagar’s famed elephant brigade 👇

2/10


At his command there were over 50000 elite troops with a regiment of Portuguese gunners and 3200 cavalry with 600 elephants.

3/10

Along with that more than four hundred thousand ( four lakh) peasant levies and irregular military made this empire one of the largest in all of South Asia.

A typical Vijayanagar levie soldier 👇

4/10


During Baburs invasion, Krishna Dev Raya ruled supreme in all of deccan.

In fact, in an all our brawl, Krisha Dev Raya will beat Babur fair and square.

Babur could muster at max 50000 troops with 50 canons.

While Krishna Dev Raya had these numbers in Hampi alone

5/10
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Andrew Chen
Andrew Chen
@andrewchen
👇Thread.

Published a new essay: The red flags and magic numbers that investors look for in your startup’s metrics – 80 slide deck included!


This was a deck that I created on my (longish) interview process with @a16z. It was a long path, starting with meeting folks at the firm 10 years ago. But the purpose of the deck was to explain how I would use my superpower in an investing context

Here's what I explain in the deck. As investors (whether angel or VC) we're often confronted with an up-and-to-the-right graph. Is it going to go up? Or down?


One solution to forecast these growth curves is the Growth Accounting Framework, where you add up New+Reactivated and subtract churned users. In each time period that gives you the difference in monthly actives.


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After 17 years and more than 300 races, it could be @alo_oficial's last F1 race on Sunday 😭 He's given us a lot over the years... including some superb GIFs!

Here we have a rare example of a GIF you can actually hear. TOMA. 💪


The Spanish Samurai


Never give up. 💪 #GraciasFernando


Winning is everything. #GraciasFernando
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Tashny Sukumaran
Tashny Sukumaran
@tashny
Surendra Ananth @surendraananth, you violated my conditional consent. I assented to unprotected intimate relations with you on the STRICT condition that you tell me if you have relations with anyone else. You failed to do so, and I became ill as a direct consequence.

You refused to reveal your own STI results to me, but claimed to others they were negative and alleged I had multiple other partners, slut-shaming me. You gaslit me saying you had told me about your other partners.

You called up @justice_sisters and @SistersinIslam to tell them I was crazy, jilted. You rebuffed attempts to organise a community mediation so we could address matters. You said I was crazy for speaking to your boss and father in an attempt to keep other women safe.

You have a PATTERN OF BEHAVIOUR of misogyny, harassment and sheer disrespect for women. This was sent to a friend of mine who has never expressed interest in you and has a partner.


You think women are playthings, notches on the bedpost. You, @surendraananth, are no human rights advocate.
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Category Partner: Enkryptopedia