Qiao Wang, product leader of encrypted data statistics website Messari, tweeted that no matter what standard I measure, I am not an extremist, but I am fully confident that by the end of this economic crisis, Bitcoin's dominance will rise to More than 90. During this recession cycle, I don't see any actual demand for altcoins at all. Bitcoin is to altcoins, just like the US dollar is to emerging market currencies, except that the Bitcoin Open Miners Committee cannot unilaterally increase supply to offset the relative increase in demand.
https://preview.redd.it/wdkdx1gz2zo41.png?width=962&format=png&auto=webp&s=6f6cbbe30360cb88bb31e3c8005cf029d716bf33
Boss Crypto Letter To Investors #5 - August
Note: Research data compiled from blockchain.info, coinmetrics and unchainedcapital.
Bitcoin As Gold
The narrative around Bitcoin as “digital gold” or “gold 2.0” has been strengthening in recent months and we have even seen Bitcoin slip into a strong inverse correlation to US stocks. For us, this is not a new story and the potential for Bitcoin to shine in this arena is something we have been propagating for years. The topic is hotly debated given the potential diversification benefits that exposure to Bitcoin has in portfolio construction. There are certain times when Bitcoin trades in line with risk assets, selling off when equity volatility spikes and when liquidity runs dry, however it has little to no correlation with traditional asset classes like commodities, bonds, currencies, or stocks.
The world unfolding around us is brewing the perfect storm that most perma Bitcoin bulls have been waiting for since the beginning. Bitcoin has only ever existed in a global bull-market and perhaps for the first time in 10 years that might be about to change. Amid extreme monetary policies and rising geopolitical tensions the narrative for Bitcoin as digital gold has scarcely been stronger. Combine this with the fact that investors are starving for growth and unable to hit their benchmarks with traditional portfolio’s the comparison between the current Bitcoin market cap and the market cap for investible gold becomes an enticing proposition. The best part? A comparison to gold might not even be the end of the
road for Bitcoin. Right now there are almost no assets that largely sit outside the purview of any single government. If we see the political tensions in our world rise and the ability of these governments to service their debts comes into question the demand for non-sovereign assets is likely to boom.
The rising risk of currency devaluation, especially among reserve currencies, combined with its non sovereign nature is a longer-term catalyst that may propel BTC to new untold heights. The opportunity cost of not holding Bitcoin is getting higher every day as the long-term outlook for traditional asset classes and growth continues in a downward spiral.
Late In The Cycle
In this edition I wanted to take a step back to look at the global macro economic environment. I believe that we are entering an era where the understanding of economics and appropriate investment principles will be impe
... keep reading on reddit ➡Bitcoin has “severe” economic limitations as a means of payment. That’s according to a new working paper (PDF) from the Bank of International Settlements (BIS), the so-called central bank for central banks. Two limitations stem from the method, called proof-of-work, that Bitcoin and many other blockchain networks use to secure their distributed ledgers.
First, as we saw recently in an [attack on Ethereum Classic](https://go.technologyreview.com/e2t/c/*W457jsS6z1CrbW7RR_x682lVFv0/*W1VYMC48zFDx9W5G2pQf5H0VlB0/5/f18dQhb0S2z-7wjzHDW12Zzdh2_XvsXN50B3Fy81kzcW84WNkn8xvd9pV-6-T26psZH5W1qmzW61q8HnJW8F-Qy78wfjD0W607yP816G3N8W2jz5qp4-QVZPW4sTdgZ1LsX_FW7h5nxz8jmNN_VLfbxf8tkfD1W62qFbt96-z7gW37qQgF4ntLbzW3PxgXw6RMCQLW5PqyWd1y1RS7W2ChGLF7jZh3GW7hg6RX7nSWXbW4lF7R38NKkTlN7lKH0PdxvC8W3VjfyF1gz_HcN2Lg39w94yKsN2qq-01kkmNjVkBZ1Q4XqjLdW7FpWfZ6hnLP-W8sCvBl2wxx5FW8DfgPG1dTfjMW8vkDgr3C3S8SW7hCNY02SCJvYN5L65WBjC6bfW71XqrZ7KCHW1W7r3q3H4p_nZhW1qs6SF4x16nNW2Rrmsd8RK1bZN1V7w9f1Bsc8W6lxpcP9lfy7VW80G86J3Y9xpvW7Q6zyH2s32B4W6RSv743mg0cQW1WXdyL8XSQ2fW7d1__d3_RSrxW39xG5B550Pd1W9l67_15H2WhSW3mfc893zgF-SN7VqBFDQBdhyW3l7hf87
... keep reading on reddit ➡I am really desperate to learn about the economics behind crypto and technical know how in FULL detail.have got no experience in coding! Any suggestions on how to get started? Various resources where i can learn from?
I want to understand how the associated risks can be combated by introducing a regulatory framework or alternatively, what existing legislation can this area fall under, hence, having legal remedies available in unfortunate circumstances.
> Outputs per day is a better indicator of overall economic activity on the Bitcoin blockchain than transactions per day. Since one transaction can include multiple outputs, the number of total outputs is more important than the number of transactions themselves. Large players in the Bitcoin space use batching--the process of including multiple outputs in a given transaction--to reduce their overall transaction fees. Therefore, looking at only transactions misses an important part of the picture.
https://outputs.today/
> > When Schnorr hits, there will be even more batching of the transactions.
https://old.reddit.com/r/Bitcoin/comments/azv5v2/bitcoin_trading_volumes_today_same_as_when_the/eiat432/
https://np.reddit.com/r/btc/comments/497ug6/the_official_maintainer_of_bitcoin_core_wladimir/
This is just a friendly reminder that the "official maintainer" of Bitcoin Core, Wladimir van der Laan, is monumentally stupid when it comes to markets and economics.
Learn where Bitcoin miners fit into the BTC Markets. Watch this closed-door presentation from the #XMAX (Token: #XMX) project’s advisor Eric. Explore Bitcoin mining in Asia from an insider's perspective!
https://preview.redd.it/4o6phqpyb6141.png?width=1280&format=png&auto=webp&s=119b5fa8fe60ab13ef3a3a9a828764f2e84fc84f
YouTube Video Link - Watch Online: https://youtu.be/a-FEPkrTj1c
