the difference between the Internet and Blockchain:
Internet has a "thin" protocol, "fat" application
Blockchain has "fat" protocol, "thin" applications
with the internet, you'll want to invest in the applications
but with blockchain, you'll want to invest in the protocols as they capture the most value
tldr; protocol > application
amazing read
https://www.usv.com/writing/2016/08/fat-protocols/
#reads fat protocol
Internet has a "thin" protocol, "fat" application
Blockchain has "fat" protocol, "thin" applications
with the internet, you'll want to invest in the applications
but with blockchain, you'll want to invest in the protocols as they capture the most value
tldr; protocol > application
amazing read
https://www.usv.com/writing/2016/08/fat-protocols/
#reads fat protocol
Union Square Ventures
Fat Protocols | Union Square Ventures
Note: see the 2020 follow-up post here: Thin Applications Here's one way to think about the differences between the Internet and the Blockchain. The
Crypto Mumbles
the difference between the Internet and Blockchain: Internet has a "thin" protocol, "fat" application Blockchain has "fat" protocol, "thin" applications with the internet, you'll want to invest in the applications but with blockchain, you'll want to invest…
starting a new hashtag #reads to compile educational materials about crypto along w my summaries and understanding of it for easier reference in the future
insightful thread
crypto has mostly decoupled from BTC this cycle, finally getting validation for their use cases
as crypto is receiving adoption, devs have to figure out ways to make crypto more accessible with simple UX and tools, lowering the barrier to entry into the space
the inertia needed to start in crypto can be really high with the amount of things to take note of (e.g. gas fees, slippage, networks, etc.)
that is when the simpler the UX or usability, the better the position of a project
https://twitter.com/AriDavidPaul/status/1436330902250999812?s=20
#reads #newbie
crypto has mostly decoupled from BTC this cycle, finally getting validation for their use cases
as crypto is receiving adoption, devs have to figure out ways to make crypto more accessible with simple UX and tools, lowering the barrier to entry into the space
the inertia needed to start in crypto can be really high with the amount of things to take note of (e.g. gas fees, slippage, networks, etc.)
that is when the simpler the UX or usability, the better the position of a project
https://twitter.com/AriDavidPaul/status/1436330902250999812?s=20
#reads #newbie
CM Huat Pals
heads up here, I want you to keep this in the back of your mind as a note given the recent dips and retails being unfazed, we will likely go deeper because a shakeout isn't a shakeout until retails start selling amiright? if this distribution pattern plays…
BTC is now trading in the 52k region
it's bounce or die here imo
given the Omicron + tapering + Evergrande fud,
we've reached the expected pessimistic zone and might even temporarily break lower with a further fud
if there's an entry for dips then this would be your best bet
it's bounce or die here imo
given the Omicron + tapering + Evergrande fud,
we've reached the expected pessimistic zone and might even temporarily break lower with a further fud
if there's an entry for dips then this would be your best bet
at this point I'm treading carefully
it's best to stick to high conviction plays and avoid all others
I'm looking to focus my basket and portfolio instead while deploying usdt rationally
I want to remain objective here
on-chain metrics still point to a bull market
charts aren't as beautiful so I have some reservations in the short term
this is a clear breakdown and not an optimal scenario for BTC and it makes no sense to blindly keep calling a bull market in the short term because that's just twisting and warping reality to fit your bias
instead of blindly calling moon or pump to give hopium, I will just share my thoughts and mumbles
you can make your own informed decision as you should from here
tldr; I am still buying my high conviction coins, neutral short term, bullish mid - long term
p.s. it's gonna take awhile for recovery
it's best to stick to high conviction plays and avoid all others
I'm looking to focus my basket and portfolio instead while deploying usdt rationally
I want to remain objective here
on-chain metrics still point to a bull market
charts aren't as beautiful so I have some reservations in the short term
this is a clear breakdown and not an optimal scenario for BTC and it makes no sense to blindly keep calling a bull market in the short term because that's just twisting and warping reality to fit your bias
instead of blindly calling moon or pump to give hopium, I will just share my thoughts and mumbles
you can make your own informed decision as you should from here
tldr; I am still buying my high conviction coins, neutral short term, bullish mid - long term
p.s. it's gonna take awhile for recovery
Crypto Mumbles
I don't really like how alts are now running ~1 month after btc peaked this usually is a top signal and time to exit the market indeed, this run will be different with institutions coming into play along with larger adoption history doesn't repeat but it…
I guess it was a sign to exit at least some ^
hence the importance of scaling out and never timing the top !!
hence the importance of scaling out and never timing the top !!
this actually makes sense
the stalling of the eoy bull market could possibly be due to one final hammer from China waiting to occur (what's happening right now)
the BTC sell off was SPOT driven, not caused by derivatives
“In fact, 1,500 BTC alone was sold in less than a minute at the time of the drop.”
very possibly China whales are selling their btc to avoid the delayed enforcement
after which (OI and leverage flushing) we start heading up
thus, the question now would be
are they done yet?
https://sg.news.yahoo.com/bitcoin-drops-9k-hour-053813411.html
https://twitter.com/bobbyclee/status/1466421539419705360?s=20
the stalling of the eoy bull market could possibly be due to one final hammer from China waiting to occur (what's happening right now)
the BTC sell off was SPOT driven, not caused by derivatives
“In fact, 1,500 BTC alone was sold in less than a minute at the time of the drop.”
very possibly China whales are selling their btc to avoid the delayed enforcement
after which (OI and leverage flushing) we start heading up
thus, the question now would be
are they done yet?
https://sg.news.yahoo.com/bitcoin-drops-9k-hour-053813411.html
https://twitter.com/bobbyclee/status/1466421539419705360?s=20
some hindsight on-chain metrics before the crash
surge in premium index showing buying pressure on exchanges
this time it's different from the May crash 👌🏻
https://cryptopotato.com/3-on-chain-signs-that-flashed-shortly-before-bitcoins-16k-daily-crash/
surge in premium index showing buying pressure on exchanges
this time it's different from the May crash 👌🏻
https://cryptopotato.com/3-on-chain-signs-that-flashed-shortly-before-bitcoins-16k-daily-crash/
CryptoPotato
3 On-Chain Signs That Flashed Shortly Before Bitcoin’s $16K Daily Crash
In this article, we review several on-chain signs that could have foreseen the $16,000 BTC price crash.
CM Huat Pals
we still see a bullish net position change on all exchanges on BTC
you can consider dca-ing into this idea
because price is a lagging indicator to on chain metrics
because price is a lagging indicator to on chain metrics
consider trimming some positions bought in the dip
more likely to u-turn after tapping the area we're at now (51k)
if not then a tap on 54k
a clean reclaim and hold of 54k will make me bullish again
more likely to u-turn after tapping the area we're at now (51k)
if not then a tap on 54k
a clean reclaim and hold of 54k will make me bullish again
quick general market update
bulls:
BTC needs to reclaim 54k and pray for a squeeze up to resume the bullish case. However, profit taking will be quick on the move up to 54k (traders buying the dip and selling the bounce)
bears:
bears will look to short after trapping longs in the area of 53-54k to capture the most value in the supply from profit taking. bears want the 53-54k area as much as the bulls want it as well. hence, the relief bounce here.
however, bears have the edge here from F&G index and retails panicking
overall market sentiment:
imo still bearish. fud keeps piling with not much significant bullish news. Omicron, tapering, china enforcement, evergrande.
tldr; a move down is more likely as of now
bulls:
BTC needs to reclaim 54k and pray for a squeeze up to resume the bullish case. However, profit taking will be quick on the move up to 54k (traders buying the dip and selling the bounce)
bears:
bears will look to short after trapping longs in the area of 53-54k to capture the most value in the supply from profit taking. bears want the 53-54k area as much as the bulls want it as well. hence, the relief bounce here.
however, bears have the edge here from F&G index and retails panicking
overall market sentiment:
imo still bearish. fud keeps piling with not much significant bullish news. Omicron, tapering, china enforcement, evergrande.
tldr; a move down is more likely as of now
Crypto Mumbles
in case you missed out, LUNA has shown strength despite the recent dips neither metaverse nor gaming coin why is it doing so well? here's a basic read of what LUNA is: https://www.gemini.com/cryptopedia/terra-luna-coin-fiat-stablecoin
yes thank you
finally something that makes sense
https://fortune.com/2021/12/06/luna-coin-top-ten-crypto-dogecoin-shiba-inu-avalanche-ethereum/
finally something that makes sense
https://fortune.com/2021/12/06/luna-coin-top-ten-crypto-dogecoin-shiba-inu-avalanche-ethereum/
Fortune
LUNA coin surges past DOGE, SHIB and AVAX to become 10th-largest coin
The search for alternatives to Ethereum has fostered the rise of options like Avalanche, Solana and Luna.
some of you might already know that this talk is happening later today
"The hearing will be led by Waters (D-CA), the Chairwoman of the House Committee on Financial Services. (The hearing’s full noscript is “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.”) Waters’ committee has called six witnesses to the hearing, who are executives for major cryptocurrency companies and exchanges including Coinbase, Circle and FTX."
overall I'm bearish on this talk because many altcoins fall within the definition of a security -> regulation will take place
anyway, no news = good news, and good news.. will be good news
regardless, a fall in price movement is expected so i don't think we'll be too shocked if anything
https://time.com/6126268/cryptocurrency-ceos-congress-hearing/
"The hearing will be led by Waters (D-CA), the Chairwoman of the House Committee on Financial Services. (The hearing’s full noscript is “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.”) Waters’ committee has called six witnesses to the hearing, who are executives for major cryptocurrency companies and exchanges including Coinbase, Circle and FTX."
overall I'm bearish on this talk because many altcoins fall within the definition of a security -> regulation will take place
anyway, no news = good news, and good news.. will be good news
regardless, a fall in price movement is expected so i don't think we'll be too shocked if anything
https://time.com/6126268/cryptocurrency-ceos-congress-hearing/
Time
Crypto CEOs Head to Congress to Push Back on Looming Regulations. Here's What to Expect
As debates about cryptocurrency regulation continue to be waged around the world, six key executives will attempt to defend the rapidly growing field before Congress
not really into NFTs but I'm definitely trying out this one for sure
https://twitter.com/pepsi/status/1468946201718501376?s=20
https://twitter.com/pepsi/status/1468946201718501376?s=20