Dilution-proof

This 🧵 contains references to my #Bitcoin related content, which I will keep extending over time - so it is basically my own Proof-of-Work time chain ⛓️ Click on "show this thread" & have fun! 👇

Lazer ray till $100k took a few years longer than originally anticipated, but great to have gotten there Congrats to everyone who has held onto #bitcoin throughout the whole period!

1) The popular, Twitter version of the Bitcoin Power Law is mathematically wrong, an unfortunate misapplication of the Power Law, as I will demonstrate in this thread. Bitcoin market cap has NOT grown in “a linear corridor of growth” since 2010.

@hmblank The end of an era. Dank voor alle mooie content Herbert, en veel plezier met pierewaaien en lanterfanten! 😆 het is je gegund

Het is al genadeloos uitgelekt maar nu even officieel: dit is inderdaad mijn laatste. Op naar nieuwe uitdagingen, zoals uitvreten, niksen, pierewaaien en lanterfanten. En twitteren, dat vast ook.

@cburniske @joemccann Is it truly risk appetite growing, or were there there just a lot of smaller altcoins added to the TOTAL3 index, and/or did the active supply of those alts grow more on a relative basis (e.g., new coins being minted or getting unlocked)?

@joemccann Risk appetite subtly growing despite the cacophony screaming alts are dead - how surprising.

August 2024 Performance for Crypto $BTC -8.73% $ETH -22.25% $SOL -21.15% $TOTAL -10.98% $TOTAL2 -13.89% $TOTAL3 -8.63% $TOTAL3, which is the best proxy for altcoins, outperformed everything. Let that sink in.

Freedom technologies aren't invincible, but they make authorities kind of go mask-off. It's one thing for Brazil to ban Twitter/X, but it's another layer deep to then also go after everyday people for using VPNs to access it. The optics get harder with that.

@PeterMcCormack Thanks for everything that you did Pete, as well as best wishes for what’s to come!

The studio is ready, Danny's flights are booked, and next week we’ll begin recording episodes for our new podcast. I wanted to share the reasons behind this shift as many have been asking. Three primary factors influenced this decision: 1. I hate making remote shows—I never want to do them again. These interviews need the intimacy of being in person. 2. Traveling constantly has been detrimental to my health and my family. 3. My commitments here with the football club and local community are growing. So, the solution was clear: build a studio in the UK and produce the show locally. We’ve secured a fantastic space in Soho, London, and we’re ready to go but given the limited number of Bitcoin guests available in the UK or those willing to fly in, it’s time to retire What Bitcoin Did. Our new podcast will be similar in feel but will cover a broader range of topics. While some episodes will focus on Bitcoin (though less frequently), most will explore other interesting topics or people. Having made nearly 900 episodes covering a wide range of #bitcoin topics and guests, we’re now aiming higher. By diversifying our content and guests, we hope to introduce more people to the concept of sound money through podcast osmosis. If we get this right, it will be a bigger show, if we get it wrong, well we tried. For a long time I have felt there is a need to get out of the #bitcoin corner of the party. Real Bedford FC was a way of integrating sound money into a traditional business model. CheatCode purposely did not include Bitcoin in the title, so changing the show feels like a natural next step. Sometimes when stuck in the #bitcoin landscape you can lose site of how other people in the world think, lose empathy for the complexities of the world. I have felt this. I'd come home from spending two weeks with Bitcoiners and be with friends and family locally and notice a distinct difference in how we see the world. As everything feels like it is going to shit, I feel like there is a bigger job to do now. The Bitcoin podcast landscape is well served, from Marty and Odell to Natalie and Preston, from The Blue Collar guys to Stefan Livera and anyone I haven't mentioned. There’s no shortage of high-quality Bitcoin podcasts. However, there seems to be some fatigue in the space, with similar guests and topics being revisited. With our new show we want to bring fresh perspectives and ideas, aligning with sound money where relevant—think of the shows we’ve had with the likes of Eric Weinstein and Michael Malice. On a personal note, I’m need the challenge, test myself wider, get fit and find a good woman. I can't do this travelling all the time. When I started the podcast my life was a shit show - divorced, coming off drugs, heading towards bankruptcy. I've had an incredible 7 years, travelled the world, made amazing friends and got to live my dream by buying my local football club. To everyone who has helped us get this far - the guests, the listeners, the sponsors, we could not have done this without you. I am forever in your debt. I hope you’ll check out the new show and enjoy it, though it may not be for some of you. Regardless, Danny and I will work hard to deliver the best show possible, like we always have. Roll on The McCormack Show!

The #Bitcoin Monthly for July is live. A thread: 1/ In July, bitcoin’s price increased 3.1% to $64,612. By August 5, however, bitcoin's price had corrected 23.3% to a new local low at $49,577. During the last two weeks of July, bitcoin regained and then lost its 200-day moving average at $61,107 and its short-term-holder cost basis at $65,704. Today, bitcoin trades slightly below its 200-day MA.

Squeezy peasy 🍋🧃

During this bounce back off the lows, investors keep shorting bitcoin - and so far keep getting liquidated 🪦

Trump: > “Bitcoin probably overtakes gold” > “I will fire Gary Gensler” > “Never sell your bitcoin” > “Bitcoiners saw inflation before anyone else” > “Danger to the dollar comes from Washington not Bitcoin” > “U.S. to create a strategic BTC stockpile”

Best moments from Bitcoin 2024 Nashville (thread)

Why did people get so excited about Elon’s laser eyes profile pic again..?

BREAKING: Hash Ribbon buy signal just fired.

#Bitcoin explained in 23 seconds

Already 65% of Mt Gox creditors have been repaid and price is up.

Super cool short film about @realbedford

The veto is in. I guess the 180 degree turn in dem circles was more like a 90 degree turn

🍿 #bitcoin

✨ Exactly 9 years ago today, #Bitcoin pioneer ROSS ULBRICHT was sentenced to LIFE IN PRISON This week, PRESIDENT TRUMP pledged to pardon him The SHOCKING STORY of his UNFAIR TRAIL and why he deserves a chance at FREEDOM. A thread 🌟

JUST IN: 🇺🇸 Donald Trump vows to commute the sentence of Ross Ulbricht to time served if elected President. "He's already served 11 years. We're going to get him home."