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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 -
Conservatives are using the Texas power chaos to argue against climate policy even as fossil-generated power outages dwarf the amount of renewables knocked offline during the historic deep freeze. President Biden and progressives have been slow to respond.https://t.co/UajKhptEAU
— E&E News (@EENewsUpdates) February 17, 2021
It relied on very little wind energy - that was the plan. It relied on a lot of natural gas - that was the plan. It relied on all of its nuclear energy - that was the plan. 2/x
There was enough natural gas, coal and nuclear capacity installed to survive this event - it was NOT "forced out" by the wind energy expansion. It was there. 3/x
Wind, natural gas, coal and nuclear plants all failed to deliver on their expectations for long periods of time. The biggest gap was in natural gas! The generators were there, but they were not able to deliver. 4/x
It may be fair to ask why there is so much wind energy in ERCOT if we do NOT expect it to deliver during weather events like this, but that is an entirely different question - and one with a lot of great answers!! 5/x
Biden says "small classes". What we need to understand is how they plant to accomplish this.
Through "childcare programs in schools". We see this all over states w/ closed schools.
Today, our first working day, @JoeBiden signed an Executive Order on safely reopening childcare programs in schools - @DrBiden pic.twitter.com/J4vZk5ZAaS
— AFT (@AFTunion) January 21, 2021
We need to grasp that the AFT, NEA, & local unions are systematically working to decouple education from childcare.
Their vision is your child sitting on a device all day, watched by a childcare worker, being "taught" from a Teacher working from
This isn't a paranoid conspiracy theory - it is already happening in the majority of districts across the US where schools are closed.
"Learning Hubs" open, supervised by childcare workers, sometimes in the same "unsafe" school
There is NO OTHER WAY to get "small classes" without Hybrid + wraparound childcare. Your child will spend 2-3 days per WEEK supervised by low wage workers and sitting on a laptop.
Here's
Fairfax,
Last month I wrote about the distinction between long-term secular inflation and shorter-term cyclical inflation
It has been clear for several months that we are in the middle of a cyclical rise in
Now, in the short-term, the manufacturing sector is red hot, driven by a pent-up demand rebound in goods consumption.
— Eric Basmajian (@EPBResearch) January 4, 2021
Commodity prices are screaming which gives legs to "goods" inflation in the short-term.
8) pic.twitter.com/rQcqHf1OD0
The full thread can be reviewed here:
Consensus continues to conflate the inflation story, mixing and matching long-term and short-term charts to fit what is generally a secular inflation narrative.
— Eric Basmajian (@EPBResearch) January 4, 2021
Here are my two cents to make the distinction clear.
1)
Today's PPI report should have been expected to surprise to the upside as the leading indicators of inflation have been screaming to the upside for months!
Here is the ISM prices paid index, cumulated into a growth rate
3/

Industrial commodity prices have also seen a major acceleration for months.
4/

So today's PPI report was in line with the leads, suggesting that we have a cyclical upturn in inflation that is * primarily concentrated in the manufacturing sector *
This is a key point.
5/

Thank you again @JamesEBartlett for a fantastic talk (with a really nice personal touch) on reproducible workflows!
— RIOT Science Club Wolverhampton (@riotscience_wlv) February 16, 2021
Thanks especially for the co-leads @IMLahart for co-hosting and @DrManiBhogal for nabbing James!
Slides: https://t.co/CNqxzOhch1
Video: https://t.co/YjHEHuRJlz
My inspiration was making open science accessible. I wanted to outline the mistakes I've made along the way so people would feel empowered to give it a go. Increased accountability is seen as a barrier to adopting open science practices as an ECR
It also comes across as all or nothing. You are either fully open science or your research won't get anywhere. However, that can be quite intimidating, so I wanted to emphasise this incremental approach to adapting your workflow
There are two sides to why you should work towards reproducibility. The first is communal. It's going to help the field if you or someone else can reproduce your whole pipeline.

There is also the selfish element of it's just going to help you do your work. If you can't remember what your work means after a lunch break, you're not going to remember months or years down the line
Why are lunch breaks important for #code?
— Dr Rebecca Hirst (@HirstRj) February 11, 2021
If you can't remember what your variable names refer to after lunch, you sure as hell won't remember in 3 months.