BitKane
@kanemcgukin
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Helping others bridge the gap between Bitcoin and banking on Navigating Bitcoin's Noise:🎙️ Views are my opinion ≠ advice.
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The biggest takeaway from
@TheBitcoinConf
was the energy, interest, and capital looking to back infrastructure that will power financial liquidity for future generations.
A quick🧵on how a history of liquidity crises led us to
#Bitcoin
.
/1
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48
154
What's the difference between
#inflation
&
#CPI
?
One can be up and the other down. Inflation measures what we pay for things.
CPI is a rate of change that strips out the high-cost/important stuff we need to live.
👇doesn't look like a chart in a downtrend.
h/t:
@truflation
20
438
478
@nic__carter
@nytimestech
How many kilowatt-hours of electricity do you use
@nytimestech
and
@nytimes
?
It takes a lot of energy to print papers and use cloud servers to serve up information and sometimes misinformation.
4
7
354
Time for a 🧵 on two charts (at the end) that seem to tell an interesting
#Bitcoin
story.
For several yrs
@CaitlinLong_
has openly discussed the potential negative impact of
#rehypothecation
of
#bitcoin
by banks, wall street, hedge funds & the broader
#tradfi
community.
22
33
153
@NeerajKA
@jony_levin
This is seriously a case of a person who is
✅well out of touch
✅Well unprepared outside of basic definitions
✅Applying personal opinion as fact
All in attempt to support a wished upon narrative, that is false based on real world evidence.
4
1
154
@Croesus_BTC
A speculator asks: “What is the exit event?”
An investor asks: “What is the downside risk; potential for loss?”
History has always sided with the investor no matter how much euphoria the speculator feels in the moment.
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5
139
Inflation = currency debasement. As debasement speeds up so does inflation.
An obscure property bought in 1992 for $100k, now = $498k; 398%/31yrs = 12.8% inflation.
Gold: 350 in 1992 & 1,964 today = 461%/31 yrs = 14.88%.
Little used objects of value prove what inflation is.
Biden: "People think the reason for inflation is the government spending more money. Simply. Not. True."
Narrator: "It was true"
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149
1K
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135
@themovingavg
@crypto_bobby
What’s scary is she has 64,000 followers. Now we know how misinformation starts.
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1
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@IMFNews
Continued accounting tricks and “printing” while pretending crypto is the problem.
Lack of focus on the unsound financial practices taking place when passing govt bills and legislation.
0
0
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69
@NeerajKA
@jony_levin
This is a very well presented case of:
Ignoring the real answer while continuing with the nature of RUDELY badgering by talking past the facts (and person) to justifying a very wrong thesis.
Not to mention the disregard for missing support from homework or evidence.
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0
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Education and family are the only way out of oppression.
#Bitcoin
@FossGregfoss
@LawrenceLepard
@PrestonPysh
19
10
72
The most crucial point
@ptj_official
made was the relationship between truth, certainty, and faith. These are great words of wisdom.
1
7
74
A good one! In the first 10-15 mins,
@woonomic
nails the realities of the changing
#Bitcoin
market structure as financialization continues.
@CaitlinLong_
has been banging this🥁 for the longest, but the details here are 👌.
Great questions
@PrestonPysh
.
Just released! My chat with
@woonomic
. Be sure to give it a listen and let us know what you think.
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854
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“The US military burns 4.8 Billion gallons of fuel a year to protect the Petrodollar. There is a massive cost there and there is a massive environmental footprint but you rarely hear anybody talking about that, if at all.”
@Excellion
Ht
@SwanBitcoin
@Blockstream
4
21
66
One word
@CaitlinLong_
: GREED.
You’ve been spot on. I struggled w/ noticing the same issue of
#derivative
and
#TradFi
games infecting
#bitcoin
&
#Crypto
over the last 1.5yrs or so.
Structurally it was quite easy to see. But...
/1 👉🧵 on a few thoughts.
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8
64
@MacroAlf
Every time I refer to houses as just a bond people question my sanity.
When rates rise, prices fall. It’s just the way price and rate naturally function.
3
1
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53
@peruvian_bull
's dollar endgame thesis was a fun one to dig into. Especially on the heels of
#SIVB
, $SI, $SBNY, and the FED's
#bank
funding program (BTFP).
Part 1:
✅Triffin’s Delia
⭕️Econometrics
🏁human subjectivity & money
✅Risk in derivatives
4
4
60
Yes,
@CaitlinLong_
has been right.
Yes,
@LawrenceLepard
and
@FossGregfoss
are right.
Yes,
#Bitcoin
can be manipulated or suppressed with
#Leverage
and
#rehypothecation
that futures markets allow.
That is what is important about a futures
#ETF
approval over a spot approval.
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9
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0
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@LynAldenContact
I don’t disagree with this text but think it’s severely under read. The Bible.
The principles in the stories explain much of history as well as issues we are currently living through.
Haven’t found a better source for explanation.
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3
55
@brucefenton
An Amazon movie depicted the influencing nature of these types of videos.
Many look more staged than real, to create triggered emotions.
Don’t get me wrong. Some of these are real, who knows. But, political powers realize the cheap, effectiveness of social media propaganda.
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0
50
“With free capital flows & free trade built on a shaky foundation of floating exchange rate quicksand, ... More and more people work in speculating on the actions of central banks, national governments, and currency movement.”
~
@saifedean
/ The
#Bitcoin
Standard
7
9
43
@nic__carter
@nytimestech
@nytimes
According to one report, the entire data center industry uses
over 90 billion kilowatt-hours of electricity annually.
This is the equivalent output of roughly 34 coal-powered power plants.
0
2
45
“… slowly turned beads from hard money to easy money, destroying their salability & causing the erosion of the purchasing power of these beads over time in the hands of the Africans who owned them, impoverishing them by transferring their wealth to the Europeans…” ~
@saifedean
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4
41
@CaitlinLong_
Watch (or re-watch) Mr. Robot. Way ahead of its time.
Most of 2018 to 2023 played out in the early parts of the series. Crazy.
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0
40
Remember when everyone was all up in arms because Yellen and the FED made Coinbase say that deposits weren’t protected.
ht:
@jameslavish
4
4
35
Life is nothing more than an options trade.
You can create strangles, straddles, or spreads around your position. But at some pt in the future, your trade is binary.
Grasp
#volatility
while understanding
#probability
in all phases of life & markets.
#Bitcoin
@FossGregfoss
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4
39
@Chazinginfinity
@naval
@nntaleb
The man who invented the mRNA technology used in some coronavirus vaccines says…
"… I'm of the opinion that people have the right to decide whether to accept a vaccine or not, especially since these are experimental vaccines," said Dr. Robert Malone
1
10
35
I have seen anyone more right, early, and on 🎯 than
@CaitlinLong_
on this.
Well done. It is something that absolutely seems like the unintended consequences have not been well thought out, but also open and on full display modern derivatives since the 1970s. 🙌🙌
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2
37
And to think… people used to make fun of Millennials for wanting to take their parents to their job interviews.
ht:
@CoinDesk
11
7
32
@PeteSampson_
This type of thinking is how the program has become a sunken ship for more than 20 years.
1
0
35
@_tdudenhoeffer
He got sucked up in yield farming and engagement farming.
Money is supposed to be boring and when people realize that they start chasing shiny objects.
It’s very easy to spot fiat 🧠 which has made big strides in
#Bitcoin
the past 2 yrs. Not being negative, it’s just there.
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0
31
Something drastic changed between 1960 and 1980.
🤔🤔🧐🧐
I wonder what it was. 🤷♂️
When 80% of your Country does not trust the government, you might have a problem. LL: frankly shocked that 20% do. source: WSJ
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1
35
The biggest challenge for
#BTC
is that it flies 💯 in the face of how individuals in the developed 🌎 have been trained to consume.
Starting with time preference is better than focusing on price moves.
#BitcoinStandard
-
@saifedean
0
3
32
1/3
A great listen with
@stephanlivera
&
@CaitlinLong_
.
@CaitlinLong_
is right, Leverage > 1 to 1 creates problems.
Unpopular opinion:
Many
#bitcoin
maxi’s promote sound money but spent roughly the last 2 yrs building ways to lever
#Crypto
2-100x +.
SLP291
@CaitlinLong_
Stablecoins,
#bitcoin
and The Fed
Caitlin and I chat:
- coming regulatory crackdown
- massive growth in stablecoins
- stablecoin impact on the banking system
- getting direct access to the Fed
- leverage in the system
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3
5
33
As
#Bitcoin
#derivatives
#BUIDL
out & we see
#tradfi
tactics invade crypto
#markets
. The more important the warnings of
@CaitlinLong_
,
@LawrenceLepard
, and
@FossGregfoss
become around $BITO,
#futures
, and rehypothecation.
5
2
32
@BitcoinIsSaving
@adam3us
#Bitcoin
is principled and laws based.
Not to be too philosophical but this aptly describes why Proof of Work is superior to Proof of Stake.
It’s a biblical law.
ht
@HassanBoyle
2
7
31
@CaitlinLong_
“Wherever good money exists, some levered actors are trying to stop it.” —
#Bitcoin
’s edit of Yellowstone
6
3
30
Having the ability of true banking (
@jack
) across broad networks w/ instantaneous transfers across currencies that are interoperable (
@jackmallers
) not only w/ each other but also w/ the base layer (
#Bitcoin
) is what is truly unique (
@CaitlinLong_
) about this period of
#finance
.
1
1
30
From the Fourth Turning Is Here.
It’s a point noted in several different historical text. Though it seems to feel different, almost unrecognizable, in real-time.
@MapleDave
this matches your point as well.
"We're going to win" isn't some cocky saying that assumes inevitability. It is the embodiment of the belief in one's self and the power one has to change the world.
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2
5
27
This trade is shades of
🟢 $LUNA/yield farming
🟡 $GME
🔴 GBTC carry trade
Graphic and text snips 👇
Hedge funds are over levered shorting the Treasury market.
What else is new?
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3
2
25
@jameslavish
We knew it, right? It was only a matter of time.
They only do what their peers approve of. Nothing more. Nothing less. Always waiting for approval.
Hands down the best article on the subject, by
@Croesus_BTC
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1
28
@CaitlinLong_
@timevalueofbtc
@LawrenceLepard
I completely agree… the process of papering
#Bitcoin
has definitely changed its price behavior
@CaitlinLong_
.
Time for a 🧵 on two charts (at the end) that seem to tell an interesting
#Bitcoin
story.
For several yrs
@CaitlinLong_
has openly discussed the potential negative impact of
#rehypothecation
of
#bitcoin
by banks, wall street, hedge funds & the broader
#tradfi
community.
22
33
153
7
3
24
Enjoyed my recent chat w/ Jesse Myers -
@Croesus_BTC
on the value of scarce money,
#Bitcoin
& protocols.
EP 45:
🤝 What free market 💰 & gold teach us about
#BTC
🎯 The importance of store of value
✅The value of having standards & rules for 💸
14
11
26
What is pointed out, is this is how governments & financial institutions suppressed the price of
#gold
to continue to kick the
#keynesian
can down the road. Don’t be fooled. Now that futures are fully in play this is absolutely something that can happen just as easily to
#btc
.
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1
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4
26
Hat tip to
@MartyBent
for the share
and to
@pierre_rochard
for the foresight way back in 2014!
I believe we are in the beginning of the transfer from the “Slow Bleed” era to the “Currency Crisis” era of Bitcoin adoption.
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19
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2
3
27
@saylor
has discussed and shown the need for sound money and the value that having a savings mechanism brings to the system.
@JeffBooth
has shed light on the fact that
#deflation
isn’t such a bad thing when
#technology
is actually making our lives better and costs cheaper.
2
0
26
@cryptoverse8
@CaitlinLong_
I’m unsure, but the same games that have been played with derivatives, gold and other markets do appear to be in
#btc
now.
I hope it’s not the same but time will tell.
5
3
24
@lopp
@CaitlinLong_
It’s almost like a 401k but forced.
*Assuming* they get paid out at some point. This is likely the best thing to have ever happened to these wallet holders. 99.999999% would have sold or traded their way out of these legacy positions.
2
1
25
In a recent podcast,
@LawrenceLepard
with
@FossGregfoss
hinted at exactly what I’ve been 👀👀. It’s a concern, though lower probability, that seems overlooked or misunderstood by the broader
#Bitcoin
community.
Beware
#Bitcoin
FUTURES Products, Buy Real Spot
#Bitcoin
Instead and HODL Your Own Keys | Lawrence Lepard
@LawrenceLepard
& Greg Foss
@FossGregfoss
| Longer Video Clip Here:
Explain | Nov 17th 2021
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3
25
@jackmallers
w/
@saifedean
on
#lightning
…
Extremely smart to position
@ln_strike
as similar to
#Linux
. The similarities are easy to understand.
0
9
25
@APompliano
What do you meme financially is the proving to be the future and it’s one misunderstood in
#boomerville
.
0
0
22
Enjoyed this conversation with
@FossGregfoss
.
👉👉
🎧 in as we discuss the risk associated with
#bitcoin
,
#crypto
, and new asset classes. We also cover the importance of having an open mind as it relates to early stage technologies.
#Bitcoin2021
1
3
26
@peruvian_bull
@SECGov
@GaryGensler
In past cycles these forced mergers or combinations were signs of a successful can kick. A data point to be aware of.
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5
26
“This is
#America
, if you don't like what's being said you must combat that speech you find uncouth with better speech.” ~
@MartyBent
#Bitcoin
#censorship
#FreeSpeech
1
3
21
Learning from the past.
“Many system admins helped each other out by configuring their mail servers as open relays.”
Anyone ever heard of NOSTR??
ht
@lopp
8
3
23
“If faxes and snail mail were our metric for how much we had to scale the internet, we would have been hilariously off the mark.” ~
@TheGuySwann
0
2
21
@saifedean
taught the 🌏 the importance of time, effort, and energy & the value that living by the
#Bitcoin
Standard can bring to individuals and countries across the globe.
@FossGregfoss
has done a phenomenal job helping to
#educate
on the benefits of owning
#volatile
#assets
.
1
0
24
@shortl2021
@VincentAuGondor
Serious question. What if all that was learned was taught wrong?
We do know the way modern Econ is taught is incorrect unless it happens in a vacuum.
Much of the craziness stems from manipulation to make economic data appear correct. That’s the real elephant in the room.
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0
22
@100trillionUSD
@Cointelegraph
What you are seeing, real-time, is human psychology in a free market.
Emotion is the biggest hurdle for most to be able create wealth when it comes to investing.
“People buy what they wish they’d bought and sell what they are about to need.” ~
@MarkYusko
0
1
22
@namcios
Rate hikes slow the economy BUT we need the economy to grow faster SO we’ll hike rates… ⭕️ 🤦♂️🤦♂️
0
5
22
💪 observation
@MartyBent
/
@TFTC21
“It seems like an attempt to dunk on
#bitcoin
, … look closely… the cherrypicked timeframe is lower in sats (44.3%) than it is in
#dollars
(71.9%).”
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4
21
The first part is the best. “Smart people learn from *everything* and *everyone*…”
"Smart people learn from everything and everyone, average people learn from their experiences, stupid people already have all the answers…" Socrates
Learning =
#Edge
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0
1
23
🧵: Navigating the Next Wave of Internet Infrastructure 🚀🚀
The digital revolution is upon us, paving the way for a new world order. Though turbulent, there are signals guiding our path forward. 🌐
Here’s a glimpse into the future:
3
4
20
@shogunwarlord
@DaveCurtis86
@ClarkiiStomias
Anything is possible. Just stating the fact that there has been many monies in man’s time and only one has lasted. I’m pro
#btc
, but those are facts that are hard to ignore.
1
0
21
@Dennis_Porter_
Seriously have to get some people under the age of 50 in these conversations.
0
0
19
A number of people have asked for the graphic of the four steps. 👇
2
8
19
@PrestonPysh
,
@LynAldenContact
,
@RayDalio
, and
@PeterMcCormack
create content that has made it much easier for the average person to understand the finer points of
#Bitcoin
, the
#economy
, and the broader financial system.
1
0
22
@100trillionUSD
Serious question. At what point does the risk form fitting a multiplier to past data come into play?
Said another what. What metrics account for change in investor psychology as mass adoption continues? These is clear evidence of this through the cycles.
4
1
20
If I recall,
@TuurDemeester
once posted that historically, the introduction of
#futures
into new and
#volatile
#assets
tend to suppress price into a more stable range. If it's true, then we could definitely see a change in the way
#Bitcoin
behaves going forward.
3
0
21
Read: Lords of Finance, When Money Dies, and Debt & Delusion if you aren’t exactly sure how financial markets, panics, and changes around money take hold.
The
#stockmarket
gambling of 2020 isn't that big of an anomaly when viewed through the lens of history.
1
1
21
Had a great time with
@LawrenceLepard
discussing the similarities btw gold and
#bitcoin
and the impact
#Leverage
&
#Derivatives
have on suppressing price.
Listen in🎙 👉
More details in the 🧵 below 👇👇.
3
3
21
@ryderkessler
The intensity, over exaggeration, and theatrical use of words to paint a false narrative of a very common scene from every day life.
❌ Tank
❌ war zone
Genuinely cannot believe where one even comes up with these exaggerations?
To be so intolerant and misleading is a shame.
3
1
18
@VailshireCap
People like what’s comfortable.
People like to follow along.
People like be told what to do.
ALL more than they like confrontation.
#Bitcoin
requires you confront everything you thought you knew WHILE confronting many strong opinions from some extremely smart people.
1
4
18
The current wave of
#technology
will solve many of the issues that have plagued
#banking
for over 100 years (and historically)… until human greed sets in once again.
0
2
21
@jordanbpeterson
From the Sovereign Individual.
#ESG
is just a power play as many other times in history.
Not sure why so many fall for these marketing schemes.
0
6
18
@jimcramer
Here is my stance. You are a stock picker not a doctor. Stop giving medical advice.
Is it a form of malpractice to give medical advice when you don’t have a medical license?
9
0
16
@BitcoinGustavo
@FossGregfoss
@PDonovan_econ
It’s hard to take these guys seriously.
“Printing money doesn’t cause inflation. Printing too much money that is the problem…” 🤡🤡🤡🤡
Sir, are these not the same statement???
Is this not just a word salad to create confusion???
4
1
20
1.
#bitcoin
is geared to be money > it solves the problem of a lacking savings mechanism.
2.
#Ethereum
,
#NFTs
,
#Web3
(see
@cdixon
) are geared toward
#tech
innovation > they solve the lack of
#banking
#innovation
and lack of connectivity / speed.
1
1
21
@teen_executive
He’ll understand this. If it were 1950
@Visa
&
@Mastercard
would be called
#crypto
, not credit cards.
#Bitcoin
&
#cryptocurrencies
are upgrading the existing financial rails using the internet & open source protocols rather than closed systems.
It’s like many other transitions.
2
5
18