BitMEX Research
@BitMEXResearch
Followers
120K
Following
10K
Media
2K
Statuses
7K
Filtering out the hype with evidence-based reports on the cryptocurrency space, with a focus on #Bitcoin - https://t.co/pgRGU9CuKE
Joined September 2017
Judge: I will prepare a fairly long judgement. I have reached the conclusions the evidence is overwhelming. CSW is not the author of the whitepaper.CSW is not satsohi.CSW is not the creator of Bitcoin.CSW did not author the Bitcoin software.
110
671
3K
[1/4] Bitcoin ETF Flow - 12 March 2024. All data in. Record day with over $1 billion of net inflow. Blackrock with a record $849 million of inflow
73
321
1K
The Ripple story. We look over the history of Ripple and examine various disputes between the founders. We then explore the technology behind Ripple & conclude that by default, s server has full control over the ledger.
89
550
1K
Trump Bitcoin Speech - Summary:. * Bitcoin is great.* Bitcoin will go to the moon.* You are all smart.* I am smart and my family is smart.* If we don't lead in crypto, China will.* You are all great.* The Dems are against crypto.* @SenWarren is very nasty.* I will fire.
76
152
1K
COPA vs CSW - The trial is now over. COPA won and CSW lost. The final words from Judge Mellor below:. "Having considered all the evidence and submissions presented to me in this trial, I've reached the conclusion that the evidence is overwhelming. Therefore, for the reasons.
49
270
1K
[1/69] A nostalgic look back at some of the most special, hilarious & fun moments in Bitcoin & cryptocurrency history
22
304
1K
Bitcoin is now at block height 840,000. The halving has occurred!. The block subsidy is now 3.125 BTC. ππππ. Blockhash = 0000000000000000000320283a032748cef8227873ff4872689bf23f1cda83a5.
23
173
1K
Buying a beer on lightning!. BitMEX Research wishes you a happy new year!. #LightningNetwork
19
196
949
BitMEX Research has set up a lightning network node:. Public Key: 0287416bd553ff2630ff54640e3a7e4230d632387039313bf5a24d7df2006e13c2. Feel free to open a channel to our node. Deposits & withdrawals are still a long way off, but at least this is a start
26
211
880
Bitcoin ETF Flow - 15th Feb. All data out. Very strong day. $477m of net ETF flow
42
138
905
Bitcoin ETF Flow - 5 March 2024. All data in. $648m total net inflow for the day. Largest inflows since day 1. Blackrock with a record +$788.3 million day.
33
169
864
BitMEX Research: Cryptocurrency pricing model (Part 2)
22
183
808
According to Forbes, HBO will say that @peterktodd is Satoshi. The Forbes article states that "a 2010 BitcoinTalk post replying to Satoshi Nakamoto that [Cullen] Hoback believes was accidentally posted using Todd's profile". This is clearly ridiculous! It is just an example of
116
125
849
APRIL FOOLS!. It's $303m of outflow.
Bitcoin ETF Flow - 01 April 2024. GBTC Outflow $0m.
59
28
832
0.09765625 Bitcoin in rewards per block when SBF is released.
38
93
799
COPA Vs CSW Trial - New evidence published . CSW submitted to the court a document called Maths.doc. It is dated December 2008. This was one of Wright's primary reliance documents supporting his claim to be Satosh. An extract of the document is shown below, which contains a
125
73
697
Fidelity inflow of $208m today, more than offsets the GBTC outflow on its own.
Wow! Huge result for Fidelity on day 12. $208m. (If correct). Net positive day today, before even the Blackrock number comes in.
41
110
726
Bitcoin ETF Flow - 9th Feb. All data out. Strong day at $541.5m of net inflow. Invesco had an outflow, the first non-GBTC product to have an outflow day
36
138
705
ETF Day 1 Flow - UPDATE. Finally the GBTC number is out. GBTC has $95m of outflow. Total net flow for the day into the new ETFs was $625.8m. Bitwise was the victor for day 1
78
172
699
The plan to sync BSV is now abandoned. We cannot get past the large group of 4GB blocks in October 2022. We will not be able to monitor the BSV network for a split. @AskRobinhood @bitfinex @BittrexExchange @kucoincom . You are on your own. Good luck with this. .
ForkMonitor BSV Security Update as at 18 Nov 2022. Both nodes still syncing. 9 peers:. * 6 peers running BSV 1.0.11.* 3 peers running BSV 1.0.13 (Protocol which may enable coin confiscation). Five days ago all peers were running BSV 1.0.11. @RobinhoodApp.
128
106
694
Bitcoin ETF Flow - Day 12. All data out. Strong day, with $255m net inflow overall
77
142
684
CZ will be allowed to live in the UAE while he awaits sentencing. It was a βvery close callβ as to whether he would be allowed to go back to the UAE. CZ had to speak himself to convince the court. CZ must return to the USA 14 days prior to his sentencing. The transcript extract.
32
113
669
WELCOME TO LAW
Amen. We won.
23
36
679
BitMEX Research constructs a new cryptocurrency pricing model. It includes price projections for 2019. Available exclusively on the BitMEX Research desk.
23
179
641
SBF Trial Day 4 - Gary Wang testimony. FTX's published insurance fund number was fake and FTX's published insurance fund balance was produced by a random number generator!. Transcript extracts below. Q. And the number here, what is the size of the backstop fund listed?.A. Five.
68
125
670
MicroStrategyβs Premium β We did the Ponzi Maths!. $MSTR has a market capitalisation of over $100 billion and trades at a giant premium to the value of its Bitcoin holdings, around 256% on a fully diluted basis. This premium is insane, perhaps in part driven by some financial
115
108
695
[1/2] There was a stale Bitcoin block today, at height 666,833. SlushPool has beaten F2Pool in a race. It appears as if a small double spend of around 0.00062063 BTC ($21) was detected.
134
220
622
Tether. We do not think Tether is a Ponzi scheme. We identify a possible candidate primary reserve bank for Tether, based on financial data from Puerto Rico. We list other pseudonymous USD based online payment systems that were shut down by regulators.
50
268
576
(1/13) Craig Wright is speaking at @ForumChallenge this week in London, in a session entitled βWhat was your purpose as Satoshi writing the Whitepaper?β. Please see below some of the court rulings and fraud accusations related to Mr Wright. Source:
55
176
592
SegWit transaction capacity increase compared to Bitcoin Cash. Since the launch of Bitcoin Cash in August 2017, around 6.1 million SegWit transactions have taken place, 20.1% more than the cumulative number of Bitcoin Cash transactions in the period.
22
234
585
2020 Predictions:. - $BTC over $2,000, but also under $15,000.- $BTC dominance under 75%, but also over 30%.- CSW says: 2021 is year the Chinese shutdown BTC mining & 1m of his coins hit the market (Whatever else).- #MATIC falls in value by over 80% @NemanjaMatic . Happy New Year.
90
75
571
Bitcoin ETF Flow. All data out for 13th Feb. Very strong day, with $631m positive net flow over all providers. Huge day for Blackrock at +$493m
23
114
593
HBO βSatoshi Documentaryβ - Coverage. We are watching live so you do not have to. We are starting 52 minutes into the almost 2h show, to report on any βevidenceβ Peter Todd is Satoshi as early as possible. π§΅.
33
67
613
Conference attendees purchasing BitMEX Research branded coffee at @LNconf in Berlin, using the Lightning Network
21
101
569
For the first time since the ETFs launched on 11th Jan 2024, GBTC is NOT the product with the largest daily outflow. Today's ARKB outflow of $88m is larger than GBTC at $82m. Congratulations to @BarrySilbert !!.
Bitcoin ETF Flow - 02 April 2024. GBTC Outflow: $82m.
35
48
575
In Novemeber 2023, Craig Wright tried to make a version of the Bitcoin whitepaper in Latex. The below animation shows Craig graudually editing the file, to try to make the formatting match that of the real Bitcoin whitepaper, which was made with Open Office
41
119
582
1/ BitMEX Research publishes a new report analysing the Ethereum holdings of the ICO projects. We establish that the ICOs have already sold almost as much US$ worth of Ethereum as they initially raised. Data compiled with help from @thetokenanalyst.
21
254
552
Ethereum 2.0. Ethereum 2.0 is set to launch as early as July 2020, assuming no further delays. Given the decision to scale via sharding, we believe there is little choice other than to attempt this incredibly complex multi-year transition to a new network.
53
162
559
A Complete History of Bitcoinβs Consensus Forks. We list 19 Bitcoin consensus rule changes, which represents what we believe to be almost every significant such event in Bitcoinβs history. At least three of these incidents resulted in a chain split .
17
253
553
Bitcoin ETF Flow - 19 March 2024. All data in. Record net outflow of $326m
32
100
548
Bitcoin Blocksize Data Visualization. After the upgrade to SegWit in August 2017, although in a much slower fashion than many had hoped, the old 1MB blocksize limit is slowly starting to fade away, as our new chart with data to July 2018 illustrates.
12
187
516
[1/3] New Book Published: The Blocksize War. We are delighted to announce a new book. The book covers the major twists and turns of Bitcoinβs blocksize war, which raged for over 2 years, from 2015 to 2017. The book is available to purchase on Amazon now:.
45
130
547
Bitcoin ETF Flow - 24 Feb 2024. All data now in, except perhaps for the Galaxy/Invesco product. Friday was a strong day, with +$232.3m of net inflow. Also, the outflow for GBTC was just $44m, lowest level since 11th Jan
34
88
550
[1/5] Bitcoin ETF Flow - 28th Feb 2024. All data in. Today was a record inflow day, with $673.4m of net inflow. This was driven by Blackrock, which also had a record day, with $612.1m of inflow
30
114
554
COPA Vs CSW. Breaking news!. The court of appeal has rejected CSWs application to appeal
58
90
569
[1/6] . ππNEW BOOK PUBLISHEDππ. Reckless: The Story Of Cryptocurrency Interest Rates.
49
98
538
Call me Ishmael. 8 Bitcoin brainwallets were created, using passphrases from popular works of fiction. All the funds were quickly swept away & in one case the funds were taken in 0.67 seconds. If you need to use a brainwallet, donβt choose anything poetic.
25
149
538
The Bitcoin Cash chain has split into two chains. A hardfork occurred at block 582,679, however since that block, upgraded and non-upgraded nodes have split onto different chains. The Bitcoin Cash network may not currently be safe for payments .
54
206
512
* HBO will shortly claim someone as Satoshi. * HBO's prediction will be better than just finding someone in the phone book called Satoshi (Leah McGrath Goodman) & it wont be an obvious fraudster (CSW). * HBO will pick someone who said smart stuff about electronic cash years ago,.
happy satoshi (probably not) reveal day! lab leak theory let's go!.
26
50
561
[1/4] Bitcoin ETF Flow - 27 Feb 2024. All data now in. $576.8m net inflow on 27th Feb, very strong day. Blackrock alone had $520m inflow. Total net inflow since 11th Jan 2024 now $6,726.1m for the ETFs
21
111
538
Bitcoin Spot ETF Flow data. All data out for day 11. $14.8m net inflow in day 11
36
94
515
Bitcoin ETF Flow - 12th Feb. Strong day on 12th Feb, with +$493.3m flow over all products
22
96
530
Does Satoshi have a million bitcoin?. Although the evidence is far less robust than many assume, there is reasonable evidence that a single dominant miner in 2009 could have generated around 700,000 bitcoin. 1 million bitcoin may be an overestimate.
21
198
473
Bitcoin ETF Flow - 14 March 2024. GBTC Outflow $257m. (Craig is NOT Satoshi).
15
20
498
Proof-of-Work is NOT needed to validate transactions. When you receive funds, your wallet should validate the incoming transaction. Proof-of-Work is system which decides between conflicting VALID transactions produced around the same time.
We know the problem. #Bitcoin uses an outdated technology called proof-of-work to validate transactions. This method uses massive amounts of energy and is a huge source of climate pollution.
18
44
476
Diagram of a Bitcoin block. We present an illustration of a Bitcoin block, including the Merkle trees. We explain why the 2nd Merkle tree in the block is necessary. We then take a closer look at some of the negatives of both overt & covert AsicBoost.
6
185
472
@rogerkver @seoulblockchain @VisitSeoul @buyvpnservice @BithumbOfficial @coinplug @coinone_info @kevin_coinone @GOPAX_kr @coinnest_info However, according to this fantastic report by the research team at @chainalysis, 10x more Bitcoin Cash coins are held for investment purposes, rather than for transactions. In Bitcoin the equivalent ratio is 1:1.
24
123
466
[1/4] Bitcoin ETF Flow - 07 March 2024. All data in. Net total inflow of $472.6m. Another strong day, with Fidelity performing well, with +$473.4m of flow. Over $10 billion withdrawn from GBTC since 11th Jan 2024
27
84
488
[1/4] Bitcoin ETF Flow - 04 March 2024. All data in. Very strong day with +$562m net flow. Fidelity very strong with a record day. Not the best day for diversity, with smaller players BTCO, HODL & BTCW all having outflows
23
89
476
@JeremyRubin @cz_binance The same thing was suggested in 2016 when Bitfinex suffered a hack of 120,000 BTC. Read the comments from back then, which explain some of the potential negative consequences of a re-org like this.
9
101
434
Bitcoin is now at block height 630,000, the 3rd halving has occurred!. πππ. The block rΜ΅eΜ΅wΜ΅aΜ΅rΜ΅dΜ΅ subsidy has now fallen to 6.25 BTC, from 12.5 BTC. Blockhash = 000000000000000000024bead8df69990852c202db0e0097c1a12ea637d7e96d.
5
129
440
The Lightning Network. We explain the motivation behind the creation of LN and why its scaling characteristics are superior, potentially resulting in a transformational improvement. We look at LNs limitations, including the downside of inferior security.
21
162
439
[1/3] Bitcoin ETF Flow - 26th Feb 2024. All data in. Strong day with $520m net inflow. Total net inflow since 11th Jan is $6,030m.
18
70
459
SBF Trial β 10th October 2023 β Caroline Ellison Testimony. Just like with other witnesses, quick admission of crimes at the start:. Q. When you were working at Alameda, did you commit any crimes.A. Yes, we did. Q. When you say "we," who do you mean by "we"?.A. I mean Sam and I.
248
102
403
Bitcoin ETF Flow - 26 March 2024. All data in. Strong day with $418m net inflow.
15
68
456
GBTC Flow - 08 May 2024. Zero.
Finally a ZERO!.
38
33
423
Bitcoin Spot ETF Flow - 14th Feb 2024. All data in. Another strong day, with +$340m net flow for all the Bitcoin ETFs
28
68
447
Bitcoin Spot ETF Flow - Day 13. All data in. Another strong day with +$247m of net flow overall. Some uncertainty about the Fidelity flow figure. Will look into later @EricBalchunas
34
76
442
Bitcoin ETF Flow - Day 14 . All flow data out. Net +$198m inflow for all providers
36
60
437
Bitcoin ETF Flow - 21 March 2024. GBTC Outflow $359m.
43
38
415
[1/3] Bitcoin ETF Flow - Up to 22 Feb 2024. All data in. $251.4m net flow on 22nd Feb. A strong day.
21
61
442
List of 42 Bitcoin fork tokens. Although in 2018 Bitcoin may have somewhat moved on beyond this issue, in this sixth piece on consensus forks and chainsplits, we provide a list of 42 tokens which seem to have forked away from Bitcoin.
44
191
413
Tracking US$24 billion Of Tokens ICO Teams Gave Themselves. In collaboration with @thetokenanalyst, this report focuses on the treasury balances of the ICO tokens. Teams issued themselves US$24.2 billion of their own tokens, now worth around US$5 billion.
17
159
429
Bitcoin ETF Flow - 18 March 2024. GBTC Outflow $643m.
78
48
420
Please see below the exhibit, with the code showing the random number field in the formula to calculate the FTX insurance fund figure to publish
SBF Trial Day 4 - Gary Wang testimony. FTX's published insurance fund number was fake and FTX's published insurance fund balance was produced by a random number generator!. Transcript extracts below. Q. And the number here, what is the size of the backstop fund listed?.A. Five.
26
71
436
[1/4] Bitcoin ETF Flow - 06 March 2024. All data in. $332m net inflow on 6th March.
16
68
428
Bitcoin ETF Flow - 10 April 2024. GBTC Outflow $18m.
32
42
423
On 18th April 2019, our Bitcoin Cash SV node experienced 2 block re-organisations. First a 3 block re-organisation, followed by a 6 block re-organisation. The below graphic illustrates the events. It includes the block heights, block hashes & block sizes of the relevant blocks.
41
140
403
@CryptoHayes Two men leave Deutsche Bank's offices in London earlier today, following 18,000 job cuts. Interesting design on the bag carrying home their possessions. As per the FT.
22
117
395
Bitcoin SV appears to have had a 210MB block. This may have sent our node offline and we are struggling to restart it. Other Bitcoin SV block explorers also appear to be down.
78
92
393
[1/4] Bitcoin ETF Flow - 11 March 2024. All data in. A strong day with $505.5m net inflow. Blackrock again leading with $562.9m of inflow
29
65
411
$GBTC was just about to lose its crown as the largest Bitcoin ETF to $IBIT and then out of nowhere, it has its first inflow day!!.
GBTC INFLOW OF US$63m!!!!.
19
25
410
[1/4] Bitcoin ETF Flow - 13 March 2024. All data in. Another strong day, with $684m of net inflow
25
77
402
BitMEX Research is now running 3 lightning nodes. Node 1: 0287416bd553ff2630ff54640e3a7e4230d632387039313bf5a24d7df2006e13c2. Node 2: 0395033b252c6f40e3756984162d68174e2bd8060a129c0d3462a9370471c6d28f. Node 3: 03b38f5fb693ae96fda9533c7ba45840c0afc4390544223a18dd676d858bfd5b15
8
58
371
[1/4] Bitcoin ETF Flow - 18 March 2024. All data in. $154m net outflow. First outflow day since 1st March. Biggest disappointment was Fidelity inflow appears to be declining, just $5.9m on the day, a record low.
22
60
410
[1/4] Bitcoin ETF Flow - 16th Feb 2024. All data in. Another strong day with +$331.7m net flow. For the week its +$2,273.4m net flow. Total net flow since 11th Jan is +$4,926.9m
17
59
397
Bitcoin ETF Flow - 09 April 2024. GBTC Outflow $155m.
1K
46
376
Tether Addendum β New data from Puerto Rico. Bank deposits were up 248% to $3.3 billion in the quarter. This extraordinary growth coincides with the recent crypto boom. The data supports our speculation that Noble Bank is Tether's primary reserve bank.
21
198
361
Bitcoin ETF Flow - 21 Feb 2024. All data now in. Net outflow of $35.7m
26
48
389
Overall Flow stats for ALL Bitcoin ETPs since 11th Jan 2024:. * New US ETFs: +$4,536m.* GBTC Outflow: -$3,447m.* BITO Outflow: -$143m.* Top 6 European ETP outflow: -$138.8m.* All 23 others Outflow (Rest of Europe, Canada, Brazil etc): -$86m. GRAND TOTAL INFLOW: $721m.
34
63
387
Bitmainβs IPO. Documents highlight some of the issues:.* Investing too much in BCH.* Too much inventory.* Loss-making sales. However, Bitmain shipped 3 million miners & produced $1.3 billion of cashflow in 2017, demonstrating a strong execution capability.
17
108
363
Bitcoin Spot ETF Flow - Day 2 UPDATE . Flow number for Blackrock now in. Blackrock had $386m of inflow. This gives Blackrock almost $500m of inflow in the first 2 days, likely putting it in the lead
Bitcoin Spot ETF Flow - Day 2 . Day 2 share count is out for GBTC. $484m of outflow in day 2 and total GBTC outflow in the first 2 days of $579m. Fidelity looks to be in the lead with a strong second day, still waiting on Blackrock data for day 2. For smaller players like Hashdex
38
89
370