Bitcoin
During the week I came across Morgan Stanley's SEC filings with regards to number of its funds nearly doubling their allocations in GBTC, thus more exposure to bitcoin. At first, for couple of hours I was super excited & bullish until I wondered about the wider context and
Bitcoin
Last night there was an attempt by a Decentralized Autonomous Organization (DAO) to bid & buy the copy of US Constitution at the Sotheby's auction. The DAO raised $45 million from folks across the crypto space within 72 hours. Its most likely the largest crowdfund for a physical
DeFi
Structurally market wide not a lot has changed over past couple of days except following notable events: * There exists an ETH whale known for marking price tops & bottoms - s/he has made a billion $ last year easily if the exchange data can be trusted * The same whale just
Bitcoin
Facts: * Recall in June I mentioned a bitcoin upgrade (aka softfork) called Taproot[1] was being signalled for activation. As is customary on BTC network everything always upgrades and is enforced at snail pace. So now after nearly 5 months of activation signalling; in 9 days (approx. Sunday 14th) at
Bitcoin
First upgrade of ETH2 got accomplished - the stragglers who haven't upgraded will get punished by having their 32 ETH staked getting slashed over time. Most likely the last upgrade of ETH1 will be around December 8th - this will push the date of the difficulty bomb to
Bitcoin
Mixed state of affairs for ETH2's Altair upgrade - potential sign of how complicated the merge itself will be in 2022. 85% of the nodes seem to be running in a healthy state. Geographically, nodes are spread across 63 countries. Looking at the granular level (software running on
Bitcoin
Amphora - the ETH 1 & 2 team event in Greece; has indeed resulted in a functioning dev net and a clear to-do list for the teams involved. Realistic timelines suggest Q2 2022 which I suspect is more-or-less late Q2 given the need to on-board the Ethereum community + rest of
Ethereum
To keep in check my potential over-enthusiasm of crypto; I listen to a few podcasts that are inherently traditional; e.g. Macro Voices or a new one called Inside Baseball with Old Chestnut. This week's macro voices podcast was great from the thoughts of central banks being forced
Bitcoin
Hopefully you recall my oil rig analogy vs price fluctuations and how its similar dynamic in crypto mining world. So with increasing mining footprint comes higher accountability standards and herein we are already seeing minister of energy of Kazakhstan stipulating a few ground rules Relevant competent authorities shall have right
Bitcoin
How many bans does it take to ban something? I am pickled. China's recent crypto ban is the same ban of Sept 11, 2017; that was reiterated on Sept 15, 2021 via a notice posted on PBOC website but for some fashionable reason it made its appearance in
Bitcoin
Slowly learning to not bother the bears - they smite you even when talking about earning interest in fiat. Honestly, the wash-up last week was great to remove excess leverage and great opportunity for lotto call options if someone was still bullish for EOY. The whole market is clearly looking
DeFi
Coming back to the thoughts of mid-August with regards to ETH and reading some ETH dev discussions since than; there is certainly greater push to get to the merge asap. They are hoping to achieve this by early 2022 through prioritizing merge over new features on current ETH network. Additionally,
DeFi
Crypto is politically very much front, back & centre. Irrespective of the fact that the amendments folks wished for didn't get through; simply the amount of push/pull that the activists and the crypto lobby threw at the infrastructure bill is testament to the future political battles. The
Ethereum
While market is celebrating the ETH's London hardfork and watching the burn numbers (i.e. how much ETH was destroyed thus supply decreased since fork) and usual mania I am going to try to write some thoughts on Bitfinex and the players on it. Who iFinex Inc founded
Ethereum
Q4 2018 seems to be very up-front in mind seeing current price action.... can we make it another 30% down? musings: If BTC drop; watch the floors of all others including ETH....meme: does EIP1559 == ETH @ $1559 Don't also forget now there are many ways to be short
Ethereum
Just like how we usually see oil rig counts adjust downwards as price of oil tanks; similarly the mining power is adjusting to price expectations. As a consequence of this + continuation of miner migrations I would expect there to be a 5% drop in difficulty adjustment around Sunday 18th July.