coinspeak

20 years as an IT consultant. Escaped the rat race in 2015. Addicted to travel and tacos.

FATF ruins Thanksgiving

Crypto swoons on rumors about this tweet from Coinbase CEO Brain Armstrong: Last week we heard rumors that the U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term. I'm concerned that this would have unintended side effects, and wanted to share those concerns. — Brian Armstrong …

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What Does Unbounded Bitcoin Mean?

Humans evolved to develop language to describe our experiences and Science to describe all matters of the Universe. However, there are a few concepts that still boggle the mind, e.g., exponential growth and unbounded scale. Our brains have difficulty processing the concepts exponential growth and unbounded scale. This video example of Exponential Growth by Chris Martenson is worth watching as a warm up …

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FEAR, GREED AND TETHER

Like the PreCogs in Minority Report, I am reporting a murder. The murder will take place sometime in 2021 and the victim will be Tether. The murderer will be the US Government. The motive, this weekly chart of ~15B of Tether created out of thin air with no USD backing:   The resolution of Tether’s money printing is going to …

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Divided States of America

The USA is in day 2 of an election that may end up being decided by the Supreme Court. In my opinion, the election is a good news / bad news scenario. Whoever loses, that’s the good news. The bad news is the other guy won. I was struck by the mundane items that were on the California mail in …

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$1 BILLION IN BTC ON THE MOVE

There is a BTC wallet that just moved ~$1 Billion USD. Here’s the address and the search results for BTC, BCH and BSV from blockchair.com: 1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx Due to the age of this address the owner has coins on BTC, BCH and BSV. These transactions are only a few hours old but so far the BTC and BCH have moved while the …

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Trick or Treat: BTC Hash Collapses by 30%

Brief weekend update on BTC. Network Hash has collapsed by 30+% resulting in high fees and very slow transactions. The reason for the hash collapse? Chinese miners who rely on hydro power are no longer receiving plentiful cheap energy as China enters the dry season. The increase in energy cost results in less profitable miners shutting down and a collapse …

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Billionaire Boys Club

If you had 1 billion dollars how much due diligence would you do before opening 8 or 9 figure positions? I’m curious because some of the largest investments I see in BTC defy logic. Sure, if you’re a crypto kid in your mom’s basement YOLO’ing BTC is fine, but if you have 9 figures in a public company’s treasury I …

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One Chart

This chart presented by TAAL’s Jerry Chan at last week’s Coingeek conference sums up the investment thesis for Bitcoin SV. Full presentation here. This chart represents the point when the BSV mining network is being sustained by transaction fees rather than by block rewards. Keep in mind, the block rewards in Bitcoin are programmed to decrease every four years. Sustaining the …

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Fool’s Gold

Let’s say it like it is: it’s been a tough six months for bullish BSV traders. I am reminded of the market adage: The market can remain irrational longer than you can remain solvent. Irrational is an understatement. We are living in an upside down financial world: Black is white. Buying bankrupt company stock is a foolproof money maker. TSLA …

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Patents, Copyrights and Lawsuits – Oh My

Bitcoin SV price has under-performed BTC by 20% in the month of August. This price lag has caused a few interesting comments and articles to be published pondering what is holding BSV back. Bitcoin SV is a protocol on which developers have built a competitive ecosystem of applications. BSV is designed to comply with legal requirements while scaling with near …

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