Putting $400M of Bitcoin on your company balance sheet
Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots. A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC). Today we'll discuss in excrutiating detail why this is not a good idea. When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust. However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:
Is Bitcoin money?
No. Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves: 1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own. As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get. You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there? 2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile. If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point: 3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away. For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast. On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC While the dollar loses value at a predictible rate, BTC is all over the place, which is bad. One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy. If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due. Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.
BTC has a fixed supply, so these problems are built in
Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense. Having control over supply of your currency is a good thing, as long as it's well run. See here Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well. Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money. Let's look at a classic poorly drawn econ101 graph The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand. Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control. It's also a national security risk... The story of the guy who crashed gold prices in North Africa In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca. He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade. This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.
Currencies are based on trust
Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged? The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president. People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all. It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board. For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government." The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.
BTC is not gold
Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value. How do we know that? Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan. Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well. Some people are puzzled at this: we don't even use gold for much! But it has great properties: First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment. Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials. Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans. It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods. To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that. On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Means of Exchange: if people seriously start using BTC to buy pizzas, then this creates a real demand for the currency to accomplish the short-term exchanges. As we saw previously, I'm not personally sold on this one and it's currently a negligible fraction of overall demand.
Criminal uses: Probably the largest inbuilt advantage of BTC is that it's anonymous, and so a great way to launder money. Hacker gangs use BTC to demand ransom on cryptolocker type attacks because it's a shared way for an honest company to pay and for the criminals to receive money without going to jail.
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.
BTC is really risky
One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds. But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:
A critical software vulnerability is found in the BTC codebase, leading to a possible exploitation.
Xi Jinping decides he's had enough of rich people in China hiding their assets from him and bans BTC.
Some form of bank run takes hold for whatever reason. Because BTC wallets are uninsured, unlike regular banks, this compounds into a Black Tuesday style crash.
Blockchain solutions are fundamentally inefficient
Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science. That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale. The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
BTC was estimated to use as much electricity as Belgium in 2019. It's hard to trace where the BTC mining comes from, but we can assume it has a huge carbon footprint.
A single transactions is necessarily expensive. A single transaction takes as much electricity as 800,000 VISA transactions, or watching 50,000 hours of youtube videos.
There is a large necessary tax on the transaction, since those checking the transaction extract a few BTC from it to be incentivized to do the work of checking it.
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
Ultimate glossary of crypto currency terms, acronyms and abbreviations
A theory of why Ethereum is perhaps better "sound money" than Bitcoin.
The idea of Bitcoin's supremacy as "sound money" is very frequently thrown around by the biggest talking heads in the crypto world. I know I will get a lot of hate for suggesting that this theory is not only flawed, but it is straight up wrong. As unintuitive as it may sound to Bitcoin maximalists (no offense intended) I believe Ethereum is on the path to becoming the global leading asset and model for sound money... give me a chance to explain why.
The idea that nothing can change Bitcoin's issuance schedule is a myth. There is absolutely no divine power controlling the supply of Bitcoin. Contrary to what is commonly asserted, Bitcoin's issuance protocol is not primarily driven by what is currently implemented. The real driver is consensus: the majority of network participants must agree that what is currently defined cannot be changed. There is an underlying assumption that the consensus would never want to change Bitcoin's issuance. On the surface this makes for a nice "sound money" narrative, but it is false premise and sticking to it could be ultimately detrimental. It presents a long term sustainability issue (the hope that somehow Bitcoin's base layer will scale enough to maintain security entirely through fees). It also completely dismisses the possibility that an unforeseen event could create pressure to change the issuance. If Bitcoin managed to create a consensus mechanism that did not rely on mining, it is very likely there would be consensus to reduce issuance. On the other hand, if some potentially catastrophic event would create incentives to increase the issuance, it would only make sense for the network to do so.
Issuance flexibility is not fundamentally bad. Etheruem's approach to adjust the issuance according to the contextual circumstances has resulted in a faster rate of issuance reduction than what was originally defined in the protocol. The rate of issuance will continue to decrease as new developments allow for it to happen without compromising the network security. There is a very high probability that Ethereum will achieve a lower issuance rate than Bitcoin in the next two years, and it could possibly achieve zero issuance in the next five years. This would be a result of a successful implementation of PoS, sharding and EIP-1559.
The root of all evil is Proof of Work. PoW is by far the primary cost of operating the Bitcoin network. It is the primary determinant of how much issuance is needed as a financial incentive to keep miners doing their thing. The very mechanism that secures the network's decentralization is unfortunately quite wasteful. The degree of decentralization is a direct result of how much random mathematical operations are being done by miners.
There is a better way. Some people will take offense by the use of the word wasteful, and they claim that it is not because those mindless calculations are what is actually securing the network. However, its wasteful aspect becomes clear if there is a different way to achieve equal or superior decentralization without the need to crunch difficult computational problems. This just so happens to be embodied in Ethereum's design of Proof of Stake. It will drastically reduce the cost of securing the network, while providing at least 2-3% annual returns for the ownership of Ether. When Ethereum's issuance becomes lower than its staking rewards, it will effectively have achieved the same effect as having zero (or possibly negative) issuance.
The value proposition of Ethereum 2.0 is unmatched. There is just absolutely no asset in the world that has a 2-3% self-denominated annual returns and just so happens to be rapidly appreciating. When wall-street's greed sees this, it will create the mother of all bubbles.
Don't dismiss the flippening. On February 01 2018 Ethereum reached 70% of Bitcoin's marked cap (it was even closer if you account for the amount of lost bitcoins). That happened before DEFI, before proof of staking was within reach, before multiple effective layer 2 solutions were a thing, before wrapped Bitcoins and before the first signs of mass adoption were on the horizon (like integration with Reddit , VISA and potential to compete with SWIFT). Utility is a huge factor in driving prices, lets not forget how Silk Road played a key role into propelling Bitcoin's value. Yes, Ethereum crashed hard after the peak in 2018, but perhaps it is simply manifesting a higher volatility pattern that is reminiscent of Bitcoin's early years. Bitcoin's first 5 years were characterized by aggressive price swings, why should it be different for Etheruem (considering it is about 5 years younger than Bitcoin)? If the volatility patterns stands on this bull market, we will see a flippening.
So... do I think Etheruem will flip? Yes I do, but I still hold Bitcoin. No one has a crystal ball, and nothing is certain. Perhaps Etheruem will crash and burn, perhaps Bitcoin will become the next Yahoo, and perhaps they will both thrive in this new exciting crypto world.
Eth 2.0 vs Polkadot and other musings by a fundamental investor
Spent about two hours on this post and I decided it would help the community if I made it more visible. Comment was made as a response to this
I’m trying to avoid falling into a maximalist mindset over time. This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech. Can someone help me see the downsides of diversifying into DOTs? I know Polkadot is more centralized, VC backed, and generally against our ethos here. On chain governance might introduce some unknown risks. What else am I missing? I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
What else am I missing?
The upsides. Most of the guys responding to you here are full Eth maxis who drank the Parity is bad koolaid. They are married to their investment and basically emotional / tribal in an area where you should have a cool head. Sure, you might get more upvotes on Reddit if you do and say what the crowd wants, but do you want upvotes and fleeting validation or do you want returns on your investment? Do you want to be these guys or do you want to be the shareholder making bank off of those guys? Disclaimer: I'm both an Eth whale and a Dot whale, and have been in crypto for close to a decade now. I originally bought ether sub $10 after researching it for at least a thousand hours. Rode to $1500 and down to $60. Iron hands - my intent has always been to reconsider my Eth position after proof of stake is out. I invested in the 2017 Dot public sale with the plan of flipping profits back to Eth but keeping Dots looks like the right short and long term play now. I am not a trader, I just take a deep tech dive every couple of years and invest in fundamentals. Now as for your concerns:
I know Polkadot is more centralized
The sad truth is that the market doesn't really care about this. At all. There is no real statistic to show at what point a coin is "decentralized" or "too centralized". For example, bitcoin has been completely taken over by Chinese mining farms for about five years now. Last I checked, they control above 85% of the hashing power, they just spread it among different mining pools to make it look decentralized. They have had the ability to fake or block transactions for all this time but it has never been in their best interest to do so: messing with bitcoin in that way would crash its price, therefore their bitcoin holdings, their mining equipment, and their company stock (some of them worth billions) would evaporate. So they won't do it due to economics, but not because they can't. That is the major point I want to get across; originally Bitcoin couldn't be messed with because it was decentralized, but now Bitcoin is centralized but it's still not messed with due to economics. It is basically ChinaCoin at this point, but the market doesn't care, and it still enjoys over 50% of the total crypto market cap. So how does this relate to Polkadot? Well fortunately most chains - Ethereum included - are working towards proof of stake. This is obviously better for the environment, but it also has a massive benefit for token holders. If a hostile party wanted to take over a proof of stake chain they'd have to buy up a massive share of the network. The moment they force through a malicious transaction a proof of stake blockchain has the option to fork them off. It would be messy for a few days, but by the end of the week the hostile party would have a large amount of now worthless tokens, and the proof of stake community would have moved on to a version of the blockchain where the hostile party's tokens have been slashed to zero. So not only does the market not care about centralization (Bitcoin example), but proof of stake makes token holders even safer. That being said, Polkadot's "centralization" is not that far off to Ethereum. The Web3 foundation kept 30% of the Dots while the Ethereum Foundation kept 17%. There are whales in Polkadot but Ethereum has them too - 40% of all genesis Ether went to 100 wallets, and many suspect that the original Ethereum ICO was sybiled to make it look more popular and decentralized than it really was. But you don't really care about that do you? Neither do I. Whales are a fact of life.
VCs are part of the crypto game now. There is no way to get rid of them, and there is no real reason why you should want to get rid of them. They put their capital at risk (same as you and me) and seek returns on their investment (same as you and me). They are both in Polkadot and Ethereum, and have been for years now. I have no issue with them as long as they don't play around with insider information, but that is another topic. To be honest, I would be worried if VCs did not endorse chains I'm researching, but maybe that's because my investing style isn't chasing hype and buying SUSHI style tokens from anonymous (at the time) developers. That's just playing hot potato. But hey, some people are good at that. As to the amount of wallets that participated in the Polkadot ICO: a little known fact is that more individual wallets participated in Polkadot's ICO than Ethereum's, even though Polkadot never marketed their ICO rounds due to regulatory reasons.
generally against our ethos here
Kool aid. Some guy that works(ed?) at Parity (who employs what, 200+ people?) correctly said that Ethereum is losing its tech lead and that offended the Ethereum hivemind. Oh no. So controversial. I'm so personally hurt by that. Some guy that has been working for free on Ethereum basically forever correctly said that Polkadot is taking the blockchain tech crown. Do we A) Reflect on why he said that? or B) Rally the mob to chase him off?
Also Parity locked their funds (and about 500+ other wallets not owned by them) and proposed a solution to recover them. When the community voted no they backed off and did not fork the chain, even if they had the influence to do so. For some reason this subreddit hates them for that, even if Parity did the 100% moral thing to do. Remember, 500+ other teams or people had their funds locked, so Parity was morally bound to try its best to recover them. Its just lame drama to be honest. Nothing to do with ethos, everything to do with emotional tribalism. Now for the missing upsides (I'll also respond to random fragments scattered in the thread):
This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech.
A good quick intro to Eth's tech vs Polkadot's tech can be found on this thread, especially this reply. That thread is basically mandatory reading if you care about your investment. Eth 2.0's features will not really kick in for end users until about 2023. That means every dapp (except DeFI, where the fees make sense due to returns and is leading the fee market) who built on Eth's layer 1 are dead for three years. Remember the trading card games... Gods Unchained? How many players do you think are going to buy and sell cards when the transaction fee is worth more than the cards? All that development is now practically worthless until it can migrate to its own shard. This story repeats for hundreds of other dapp teams who's projects are now priced out for three years. So now they either have to migrate to a one of the many unpopulated L2 options (which have their own list of problems and risks, but that's another topic) or they look for another platform, preferably one interoperable with Ethereum. Hence Polkadot's massive growth in developer activity. If you check out https://polkaproject.com/ you'll see 205 projects listed at the time of this post. About a week ago they had 202 listed. That means about one team migrated from another tech stack to build on Polkadot every two days, and trust me, many more will come in when parachains are finally activated, and it will be a complete no brainer when Polkadot 2.0 is released. Another huge upside for Polkadot is the Initial Parachain Offerings. Polkadot's version of ICOs. The biggest difference is that you can vote for parachains using your Dots to bind them to the relay chain, and you get some of the parachain's tokens in exchange. After a certain amount of time you get your Dots back. The tokenomics here are impressive: Dots are locked (reduced supply) instead of sold (sell pressure) and you still earn your staking rewards. There's no risk of scammers running away with your Ether and the governance mechanism allows for the community to defund incompetent devs who did not deliver what was promised.
Wouldn’t an ETH shard on Polkadot gain a bunch of scaling benefits that we won’t see natively for a couple years?
Yes. That is correct. Both Edgeware and Moonbeam are EVM compatible. And if the original dapp teams don't migrate their projects someone else will fork them, exactly like SUSHI did to Uniswap, and how Acala is doing to MakerDao.
Although realistically Ethereum has a 5 yr headstart and devs haven't slowed down at all
Just because it's "EVM Compatible" doesn't mean you can just plug Ethereum into Polkadot or vica versa, it just means they both understand Ethereum bytecode and you can potentially copy/paste contracts from Ethereum to Polkadot, but you'd still need to add a "bridge" between the 2 chains, so it adds additional complexity and extra steps compared to using any of the existing L2 scaling solutions
That only applies of you are thinking from an Eth maximalist perspective. But if you think from Polkadot's side, why would you need to use the bridge back to Ethereum at all? Everything will be seamless, cheaper, and quicker once the ecosystem starts to flourish.
I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
They are competitors. Both have their strategies, and both have their strengths (tech vs time on the market) but they are clearly competing in my eyes. Which is a good thing, Apple and Samsung competing in the cell phone market just leads to more innovation for consumers. You can still invest in both if you like. Edit - link to post and the rest of the conversation: https://www.reddit.com/ethfinance/comments/iooew6/daily_general_discussion_september_8_2020/g4h5yyq/ Edit 2 - one day later PolkaProject count is 210. Devs are getting the hint :)
Dated: November 12th 8 pm GMT +7 Venue: t.me/DeFiProjectAMA Community Guest: Shawn You https://t.me/envyfly Ok, my name is Shawn You. I was once served as PR director of NEO, Ontology and be responsible for domestic and overseas marketing and public relations. Project Telegram: t.me/ChocoSwap Host: Anita Williams & Amanda Simon The AMA will be in 3 Phases 1st Phase: Questions will be from Team. 2nd Phase: Questions from Twitter 3rd Phase: Questions from Telegram Community. 1st Phase: Questions will be from Team! Anita Williams: Q1. Will you please decribe yourself and your CHOCOSWAP PROJECT? Shawn You: Ok, I’ve just described myself. And, Chocoswap is the first cross-chain decentralized exchange on the Ontology, aims to solve the existing issues in the DEX sector by providing instant transactions, lower fees, cross-chain asset exchange, improved user experience, and many other benefits. Anita Williams: Q2. What is the concept behind the creation of the project "CHOCOSWAP"? Shawn You: mm.. Ontology had developed the technology of cross-chain, but they didn’t have a DEX right now. So our team liked to build up a DEX base on Ontology , then had the idea of “Chocoswap”. Chocoswap, sounds close to "Ontology". That’s the suggestion they gave us. Anita Williams: Q3. How can we get CHOCOSWAP tokens? Does your project include farming or just we say staking? Shawn You: Yes，you could join in our pre-sales for Choco. The 1st round of presale has just begun from Nov. 10th. Pleast refer to https://www.reddit.com/Chocoswap/comments/jsaaq7/chocoswap_preseed_announcement or our official telegram group https://t.me/chocoswap for details. Our project includes farming. We will have the Chocoswap DAO token VNLA, and the initial set of mining pools are as following: Choco-USDT (2x reward) - initial VNLA is 20,000, and the total will be 40,000; VNLA-USDT (1.5x reward) - initial VNLA is 15,000, and the total will be 30,000; DAI-USDT - initial VNLA is 10,000, and the total will be 20,000; Anita Williams: Can you give us an overview of tokenomics and roadmap to see where yield has gone and achieved its success? Can you tell your mitigations to avoid market crash from team dump? Shawn You: In the market, different DEXes are coming up with their incentive mechanisms, such as SushiSwap, which offers SUSHI as an additional reward for liquidity providers. However, after analyzing SushiSwap’s token economy, several common flaws of DEXes arise: Team reserve: SushiSwap’s founder keeps 10% of each SUSHI distribution, a time bomb for the sustainable development of the ecosystem; Staking risk: The protocols require users to stake LP tokens and earn profits; Token economy: Existing protocols mess up the DAO and utility tokens, which could destroy the entire ecosystem; Single asset swap: Since most of the protocols are based on Ethereum, meaning they only support ERC-20 swaps; Low speed and high costs: Due to Ethereum’s underlying technology, transactions on the swap protocols are relatively slow and expensive. To solve this dilemma, Chocoswap creatively applies a dual token model (Choco and VNLA). Choco is the utility token in the ecosystem, while VNLA is the governance token in the decentralized autonomous organization. Chocoswap will follow three versions to accomplish. V1 would like to adopt Uniswap’s elegant core design. Chocoswap has added community-oriented features to improve the design of the protocol. V1 will be launched in December,2020. In V2, Chocoswap will conduct a liquidity migration, which will migrate all the liquidity tokens staked Chocoswap contracts.V2 will be launched in 2~3 months after V1. V3 will be a fully cross-chain decentralized exchange built on Ontology. Meanwhile, Chocoswap will build more financial products, including decentralized futures, options, etc., to meet with diversified demands, and will be launched in the middle of 2021. As for the second question, the tokens for team and advisors will only be released 10% after listing on the exchange, and the rest would be gradually unlocked within the next 5 years. Anita Williams: What are the main features you would recommend to us? What are the application that "CHOCOSWAP" target in the future? Shawn You: Chocoswap has features like cross-chain swap, order book, transaction mining, decentralized referral program, etc. That will be different from other DEXes. As for the goal, we’d like to make Chocoswap the biggest cross-chain swap on Ontology with a large number of users, to provide a convenient, smooth transaction with lower fees and higher speed. 1st Phase END. 2nd Phase: Questions from Twitter! Amanda Simon: Q1. @SweetDaisy1995 Are you planning to burn or buyback your tokens from the market in the future? What happened to the unsold tokens? Shawn You: Firstly, in the pre-sale round, the unsold Choco will be burned directly. Secondly, there will be a buyback& burn mechanism while V2 is launched. 50% net profits will go to Choco buyback & burn and 50% net profits will be rewarded to Choco holders. Amanda Simon: Q2. @CCryptojenny What is the risk strategies or your preemptive measures does "Chocoswap" use to ensure that ny deposits are always safe well managed liquid and depkoyed in the most favourable positions? Do you use centralized entities protocols? Shawn You: Chocoswap is a decentralized exchange. User assets will be stored in smart contracts and kept safe. That’ll be a complete decentralized way. Amanda Simon: Q3 . @kinymuem All platform that use a SWAP mechanism, must affront 2 issues, the low Liquidity ( that cause Big spreads between orders) and Slippages, so can you tell me how you will solve this instrinsic limitations? Shawn You: We will bring in external data sources through Oracle to decrease the price gap and slippage in trading orders as best as we can. On the other hand, we will use order book in our DEX. Chocoswap will be equipped with a decentralized automated full limit order book, which not only gives traders complete control over their orders unlike automated market-making but also automatically executes on-chain order matching. The order book will allow users to submit orders with directions, prices, sizes, etc., which gives users control over their trading. Chocoswap includes lots of optimization in the order book system to make it simpler and more efficient for users. Amanda Simon: Q4. @Albhie If you were to summarize your project in one word, what would it be? Shawn You: One word.... I think it’s "profitable" Amanda Simon: Q5. @bimasuryaatmaj1 The Ethereum blockchain has some problems with transaction speeds and high gas fees, but why is $ Choco using the Ethereum blockchain? And how do you react to that? Shawn You: We’ve just noticed the problem, so we will build up on Ethereum at first then migrate to Ontology network for higher speed and lower fees. Collabrate with Ontology will help us solve these problems. 2nd Phase END Final Phase: Questions from Telegram Community! @Chocholateboy Is your project is fully decentralized and is there some risk of centralization in the future? Shawn You: Yes, it’ll be fully decentralized. @Chocholateboy As I am a developer with knowledge of programming languages such as solidity, C ++, Java etc., can I create Dapps on your platform ? And HOW easy to create dapps on you platform??? Shawn You: Yes. Our platform is open to the developers. All of the new concepts, technology and products are welcome. @popi999 Do you have any new partneship recently? And what advantage of this partnership to the project? Shawn You: Actually we’ve just contacted some big exchanges like Binance, MXC for co-operation and big funds to invest. Ontology will provide strong tech supports as well. @syanamii Over the past months we have seen many yield farming projects that are just clones or copies with a few changes to Yam or sushiswap. What is your plan to attract liquidity from the mainstream yield farms that have launched to date? Shawn You: Good question. Frankly, our purpose is to make a big DEX with high flows. Liquidity mining is a way of attracting users. At first, we will have about 100,000 users from ONTO wallet. Then, we’d try hard to attract more users from ETH Dexes to our cross-chain Chocoswap. @jeckkawis As Education for crypto currency is necessary nowadays , what’s your plan to to attract those people who don’t know about cryptocurrency? If anybody thinks your project really likes a scam project, and they can’t trust this project. How do you make them believe in your project? Shawn You: Firstly, we will provide users from blockchain industry with convenient and low-cost transaction service; Secondly, we consider DEX will be a trend for financial market in the future. More and more people will use Bitcoin or Altcoin to trade, besides their Fiat currency transaction, for some inflation or other factors. Final Phase END
ATTENTION: Due to the bitcoin's recent price rally, MANY newbies have recently bought their first piece of a bitcoin. If you know a "new-coiner" please remind them that we could EASILY see a major correction in the coming weeks (especially if the Stock Market dips). Just HODL and keep learning! 👇
[Spoilers S7] Here's what we know about the state of Earth before the bombs
Here's a compiled list of what Earth was like pre-apocalypse using details from the show. Jason Rothenberg has said if the prequel gets greenlit, he wants to implement a lot of flashbacks LOST style. These flashbacks may include references to the following:
In Monty's video message he said: "After sucking the Earth dry of oil, they [Eligius III] went looking for another planet to tap." [Episode 5x13]
This is presumably why Eligius I (unmanned), II (manned), and IV (prison labor) were sent to asteroids to mine for hythylodium, an incredibly efficient energy source. Hythylodium was used to power the Eligius III and IV missions. [Episode 5x03]
Other energy alternatives are used, such as solar energy (the field of solar panels Jaha and Murphy see in 2x14). And in 6x04, Ryker tells Raven the propellant they use for the motorcycles is "ethanol distilled from Earth corn."
During Josephine's flashback in Boston 2043, a man walks into a diner holding a mask, brushing dust off his shoulders. Josephine's friend also says "It's really dusty outside." You can see multiple people in the diner wearing masks around their neck. [Episode 6x07]
During Josephine's flashback, the guy that commits suicide mentions that she posted about going to a water-rationing protest. [Episode 6x07]
Gabriel says his grandmother's water was cut off in Colombia so the rich could water their lawns. [Episode 7x10]
On Callie's TV, a headline says "Yosemite National Park Burns". [Screenshot] Another headline says: "Deadly Heat Wave". [Screenshot] You can also hear the newscaster mention "above 110 degrees." [Episode 7x08]
On Callie's TV, a headline says "Russian Ankovirus Spreads". [Screenshot] The newscaster mentions the US has declared a public health alert. [Episode 7x08]
Becca says ALIE intends to kill 6.5 billion people to solve overpopulation. She's not trying to kill 100% of the population, so 6.5 billion is not the total population count. [Episode 3x16]
On Callie's TV, a headline says "World's 11 Billionth Child Born". [Screenshot][Episode 7x08]
This is abundant when we look at the technologies developed by just Becca and Eligius, such as large space ships, cryopods, sonic drills, brain chips, ALIE, nightblood, etc.
We also see hologram technology. In 2x16, Jaha first meets ALIE in hologram form. In 7x08, it's used as a telecommunication device when Callie speaks to her father and brother.
On Callie's TV, we see a headline "first human brain transplant successfully performed in Bangalore". [Screenshot] Another headline says "Dubai's Alpha Centauri Group debuts first orbital hotel". [Screenshot][Episode 7x08]
Becca Franko, The Tech Celebrity
She was born in 2025 and went to Harvard when she was 10 years old (2035). [Episode 7x08]
In 2043, she started making tech for Eligius at 18 years old. [Episode 6x01]
She owned her own company. We don't know the name of it but we do know it's corporate logo is an infinity sign and its motto is "Seek Higher Things". [Episode 3x07]
People idolized her. The newscaster on Callie's TV said she had "legions of devotees". In 6x07, Josephine had a magazine with Becca featured on the cover. In 7x08, Reese said "Don't mind my sister. She once dressed as you for Halloween."
She owned her own television network. The channel that Callie was watching on her TV has the infinity sign as its network logo. [Screenshot] The newscaster said "The reclusive billionaire and owner of this network made her last public appearance". [Episode 7x08]
On Callie's TV, a headline says "Stock Market Headed For A ..." and it's cut off. [Screenshot] There's most likely a recession going on and stock markets are crashing. You can also see bitcoin (BTC) is worth 4563.44 (half of what it is today). [Screenshot] Also, on top of the pandemic, huge advancements in AI and technology are most likely disrupting businesses and employment as well. [Episode 7x08]
On Callie's TV, we see a headline "Wyoming joins 32 other states in legalizing the recreational use of psilocybin mushrooms". Shrooms. [Screenshot][Episode 7x08]
Battles in U.S. Cities
The Battle of San Francisco was an armed conflict that Shaw recalls watching on TV as a child. During Diyoza's time in the military, she was one of the soldiers helping the evacuation of thousands of refugees. [Episode 5x07]
Resistance Groups & Terrorism
The United Liberation Army (ULA), was a terrorist group dedicated to fighting against the corrupt government that Diyoza became a part of after the military. The ULA was involved in many terror attacks, including an attack on the 4th of July, 2041 (which they took credit for) that killed 80 civilians in a plane bombing, and a suspected metro suicide bombing in Washington D.C., killing 19 civilians in 2042. [Screenshot][Episode 5x04]
Asteroid Mining Penal Colony
The Asteroid Mining Penal Colony was an off-world penitentiary on the asteroid Proxima 6 that used prison labor to mine for hythylodium. After her arrest in 2043 [Episode 6x07], Diyoza was transported to the colony on Eligius IV.
In 2047, she and the other prisoners learned they were to be abandoned on the asteroid due to getting sick from the hythylodium so they took over the ship, damaging one of it's engines and making the ship significantly slower. It would take 109 years to fly back to Earth. Had the engine not been damaged, it's possible Diyoza and the prisoners could've made it back to Earth before the bombs. [Episode 5x03]
This damaged engine can also explain why it took Eligius IV 75 years to travel to Sanctum, while Eligius III presumably got there in shorter time. [Episode 5x13]
Corrupt U.S. Government
Diyoza says to Clarke "When the fascist government tried to take my home, I wanted blood too." [Episode 5x03]
When Reese mentions Callie dropping out of MIT, she says "Refusing to take part in fascistic regimes is my thing." [Episode 7x08]
On Callie's TV, the newscaster says "... when riot police, on orders from the Wallace Administration, moved in to clear the extreme environmental group known as The Tree Crew." [Episode 7x08]
Callie: "Extreme? What a joke. We were there peacefully. They're the extreme ones."
Lucy: "Don't they know they're defending a system that hurts people like them?"
Callie: People want to believe their leaders are telling the truth, which is why we need to get back there and continue exposing their lies.
The US president at the time of the bombs was a Wallace. In Season 2, Dante says "I love you Cage, and there's been a Wallace in this office since the bombs but if I find out that you're lying there won't be one after me". So most likely the Wallace administration and their family were corrupt. They easily decided to do away with democracy in order to have complete control in Mount Weather. [Episode 2x06]
Russell says to Diyoza in 6x03 "Your face is in our history books next to Hitler and Bin Laden". Eligius took part in federal prison labor, so most likely they had close ties with the government. Fascist governments like to vilify their opponents through propaganda. Even though Diyoza was indeed causing violence, she was probably also used as a scapegoat by the government since she was against them. Even Gabriel said in 7x04, "She was a freedom fighter, not a terrorist".
On Callie's TV, the newscaster says "The 11 billionth baby was born in the Wayne County Internment Camp". Internment camps/concentration camps are "camps where persons are confined, usually without hearings and typically under harsh conditions, often as a result of their membership in a group which the government has identified as dangerous or undesirable." [Source]
On Callie's TV, a headline says "Congress's negotiations on economic relief funds at an impasse amidst violent riots ..." [Screenshot]
Cult Mentality & Conspiracy Theories
In 7x10, Gabriel says to Bill Cadogan "Earth was pretty terrible. But it's good for the cult business, am I right?"
According to this article, Bill grew up in poverty. And Jaha mentioned in 4x03 that Bill's father beat him frequently. Bill, a millennial, says in 7x10 that his first job was flipping burgers, dreaming of the day he'd escape. "There must be more to life than politics, the dying ecosystem, the memes." In times of economic hardship and social upheaval, it's easy for people to latch onto certain beliefs.
Callie says Bill's a vulture capitalist who "traded his precious credibility to become a prophet of doom". She also called him a cultural artifact thief. He found and stole the Anomaly stone from Machu Picchu and in 2042, he started studying it. [Episode 7x08]
It's unknown when Bill founded the Second Dawn, but we know a news article was written about them in 2042, saying that only those with lots of money could "unlock the twelve seals" since it required payments of over $10 million to the cult. [Episode 4x03]
That's what I got. If you spotted anything else from the show, feel free to share! :) Edit: Thanks everyone for the kind words and the awards! Also, thanks to clwrutgers for asking me to make this list.
11-03 06:07 - '[[link]] / Two hot currencies | One global reserve / KANTBOT @ KBULTRA0 x NIC CARTER @ nic\_\_carter / Featuring The JEALOUSY OF TRADE Stack: / 1:59 THE MYSTERIOUS STRANGER – ALTERITY / 7:28 THE LEVIATHAN – SOVEREIGN...' by /u/THECHILDDEVOURER removed from /r/Bitcoin within 200-210min
''' [[link]13 Two hot currencies | One global reserve KANTBOT @ KBULTRA0 x NIC CARTER @ nic__carter Featuring The JEALOUSY OF TRADE Stack: 1:59 THE MYSTERIOUS STRANGER – ALTERITY 7:28 THE LEVIATHAN – SOVEREIGNTY 31:23 THE LABYRINTH – INSTITUTIONAL SELECTION 44:06 THE OBELISK – HUMAN ARTIFICE 47:04 THE ZOMBIE – CONTAGION & PLAGUE 52:18 THE GYROSCOPE – MOMENTUM & STILLNESS 1:08:25 THE PARLIAMENT OF TREES – RURAL COSMOPOLITANISM 1:25:10 THE BODY WITHOUT ORGANS – INFORMAL ECONOMY The Pseudodoxological Society [[link]14 BASS [[link]15 [[link]16 [[link]17 [[email protected]]6 [[link]18 [[link]19 [[link]20 [[link]21 [[link]22 [[link]23 bitcoin, cryptocurrency, rationalism, epistemology, establishment, heterodox economics, finance, skepticism, peaceful revolution, financialization economy, capitalism, progressive, libertarian, infinite growth delusion, neo-Keynesian, central banking, mmt, corporate socialism, monetary policy, stimulus, black pills, Curtis yarvin, the fed, modern monetary theory, gold standard, global reserve currency, conquest, hegemony, Bretton woods system, world war 2, gunboat diplomacy, sovereignty, IMF international monetary fund, imperialism, treaty, united nations, outsourcing defense, balance of trade, route protection, united states, china, renminbi, lockdown, resource extraction, military financial power, neoliberal institutionalism, morbid fragility, soft hard power, sanctions, WHO world health organization, infiltration, 2008 crisis, policy, belt and road, multipolar, jealousy of trade, political arithmetic, David hume, immigration, labor markets, state power, decentralization, parallel economy, black market, monetary settlement alternative, printing press, bug vs feature, maximalism, collapse, patchwork, hyperbitcoinization, Overton window, assets, barriers, dollar denominated commerce, blockchain, predation, sovereign currency, oil exports, insolvency, defaults, devaluation, digital bank note, hypercryptodollarization, facebook, stable coins, 1997 Asian crisis, Russia, Latin America, development, third world bank, corona, covid-19, climate change, sickness, bill gates, productivity, industry, agriculture, debt sector, accelerationism, wealth appropriation, income redistribution, neo-feudalism, sharecroppers, serfdom, gini coefficient, rampant inequality, revolution, overlords, middle class stagnation, shrinkage, scandal, bailouts, populism, jobs, lies confusion government control crime money panic terror, offshoring, efficiency, just-in-time supply, consultants, unemployment, crash, reform, liquidation, small business, disingenuous, farmers, FIRE insurance real estate, leverage, maturity transformation, allocation of capital, paycheck protection program, stock valuations, pension benefits, prices, ubi universal basic income, stimulus response, malfeasance, tarp, parasite, airline layoffs, zero hedge, restructure, bankruptcy, consumer student debt, real vs fake economy, disconnect, derivatives, evolution, selection pressure, creative destruction, buyer of last resort, japan, zombie companies, contagion, insolvency, moral hazard, cantillon insider, momentum and stillness, free market, lobbying competition, capitalism socialism false dichotomy, marx classical economic tradition, capital allocation, stocks, equities, s&p 500, conglomerates, technocracy, free trade, European union, economic warfare, Washington consensus, ccp Chinese communist party, immigration, maga make America great again, swift, Russia, iran, exclusion bombing, monopoly, petrodollar, sanctions, special business vehicles, postwar agreement, rogue states, Libya, Ghaddafi, Saudi Arabia, team America world police, NATO, defense, Clinton crime family, moral doctrine, end of history fukuyama, empire humiliation, sunk cost fallacy hubris, local rebellion, national bankruptcy, spending, inflation rate, deficit hawks, debt to GDP, political constraints, single payer healthcare, Medicare for all m4a, debt jubilee, trump, hyperinflation, endgame, deflation, non-neutrality of money, demographic transition, infrastructure, entitlements, spending programs, north korea mining, elite hacking task force, information currency, urbit real estate, planets only ''' Context Link Go1dfish undelete link unreddit undelete link Author: THECHILDDEVOURER 1: w*w.bitch*te.**m*video/*bjwHI*ii**Z/ 2: w*w.pa*r*on.co**Pseu*odo*ia 3: soundclou**com/*hron*c*ll**hron**-ill-ju**-201**du*step-m*x 4: soundcl*u*.*om/chronic**l***ronic*i*l-*uly-2*10*du*step*mix 5: so***clo*d.com/*2-**uge-dubste**aud*o-rage 6: mailto:[email protected] 7: soun*c*oud*co*/ki*gunderthe**u*tain/*l*b*l-finance-de*p-**re**tc-**-usd 8: w*w.dailym*tion.*om*v*deo/**x4f*f 9: www*dai*ym***on.com/**deo/x7*5056 10: *ww.**ilym**ion.com/vi*eo/x7x*f7* 11: *witter.com*s*ahor**b*ss 12: *ww.*atre**.**m/user?u=13*4229* 13: w**.**tchu**.*om/video/F*jwHI2iiVO*/]*^1 14: w*w.patreon.*om/****d*doxia*^^2 15: soundcloud**o*/chroni**ll/chro*ic-ill*j*n*-*0*0-*ubs**p*m*x]^^3 16: s*u*d*l*ud.com/*hro*ici**/ch*o*ic-ill-*ul*-2010-du*s*e**mix]^^4 17: sound*lo*d*com/*2-ga*ge*d**step*audio-ra***^^5 18: *ou*dcl*ud.com/kin**n**r*hemo*nt**n*g*obal-*inance*d*ep-*o*e-btc-vs-us*]^^7 19: www.d*ily*otio**co*/v**eo/x7**f7f]^^8 20: ww*.da*ly*otion.c*m*vi*e*/x7x*05*]^^9 21: ww**da*lym*ti*n.**m/*ide*/*7x4f7h]^^10 22: tw*tter.com/se*h*rs**ass]^^** 23: www.p*t**on*com*user?u=1*3**2*2]^^12 Unknown links are censored to prevent spreading illicit content.
In the long run bitcoin will be 10x to 100x less volatile than gold and oil
Why? Because the supply from mining is predictable. Whereas in gold and oil if its price goes up alot theres going to be alot more mining inflating the market whith alot more gold and oil, making the stock to flow going down, and crashing the price to adjust to its real value for a smaller stock to flow commoditie. PS: I just was dreaming about lambos and come to this conclusion. Would like to get your opinion. EDIT1: Another though that comes to my ass is that bitcoin in the long run will always have better performance than most stocks till it gets the main currency, because it only needs 10 to 20 years of running without problems for people start to invest without fear of losing it all.They dont need to wait for quarter results to see if the company is getting better revenue year on year.A company has to prove itself every single year even if they are the leader of their market, because the competion is always ready to take its place. Bitcoin just needs to prove its capable to be the best store of value and then people will buy it without even thinking about it, like the avarage joe do when they deposit their savings in the bank at 0.0001%
dm for info Content: Adam Armstrong - A. Thomas Perhacs Adam Armstrong - Deluxe Bundle Adam Gilad - Relationship God Adrian Morrison - eCom Success Academy 2017 Adam Armstrong - eComSuiteX Tee Advantage - Adam Armstrong Aidan Booth - 100k Factory Andy Puddicombe - Headspace V2 Anthony Carbone- Wolf Millionaire of Instagram Anthony MorrisonFan Page Domination Anthony Robbins - Awaken the Giant Within I Anthony Robbins - Change Your Focus Using Questions Anthony Robbins - Coach John Wooden Anthony Robbins - Core 100 Training Anthony Robbins - Creating Lasting Change Anthony Robbins - Date With Destiny (Closed Eye Process)[1-7] Anthony Robbins - Get The Edge Anthony Robbins - Giant Steps Anthony Robbins - Lessons In Mastery Anthony Robbins - Live With Passion Anthony Robbins - Living Health Anthony Robbins - Making Success a Study - My Story Anthony Robbins - Meeting master Deepak Chopra Anthony Robbins - New Year, New Life! (Chat 11-12-01) Anthony Robbins - Nutrition Anthony Robbins - Personal Power Classic Anthony Robbins - Personal Power II Anthony Robbins - Personal Training System Anthony Robbins - Power Talk - Influence With Robert Cialdini Anthony Robbins - Priming Exercise Anthony Robbins - Stop Yourself From Financial Self Sabotage Anthony Robbins - The Body You Deserve Anthony Robbins - The Decision That Ensures Your Success Anthony Robbins - The Power To Influence Anthony Robbins - The Power to Shape Your Destiny Anthony Robbins - Time of your life Anthony Robbins - Ultimate Relationship Program Anthony Robbins - Unleash the Power Within Anthony Robbins - Unlimited Power (NLP) Arash Dibazar - Dark Energy Arash Dibazar - Seductive Confidence Arash Dibazar - Solomon's Temple Arash Dibazar - Supernatural Arash Dibazar - The Eye of Ra Athlean X - Athlean AX 1 Athlean X - Athlean Bonuses Athlean X - Inferno Shred Athlean X - The Original Pro Athlete Workout Authority Hacker - Authority Site System BadBoy - The Instasex Merhod Package Barron Cruz - Beast Barron Cruz - Social Invincability Ben Adkins - Ten Dollar Time Bomb Ben Malol - eCom Bluepring Bootcamp Program Ben Pakulski - Mi40X Ben Settle - Persuasion Secrets of the World's Most Charismatic & Influential Villains Bobby Rio - 10 Step Tinder Solution Bobby Rio - 21 All Time Best Texts To Send A Girl Bobby Rio - 99 Best Texts Bobby Rio - Conversation Escalation Bobby Rio - Conversation Topics Training Lab Bobby Rio - Get The Girl Bobby Rio - Magnetic Messaging Bobby Rio - Player's Paradigm Bostjan Belingar - The Player Brad P. - 18 Degrees Of Social Freedom Brad P. - Buzzy Interview Brad P. - Club Game Brad P. - Fashion Bible Brad P. - Planning The Perfect Date Brad P. - The Pheromone Kid Interview Brad P. - The Shocker Brad P. - The Underground Dating Seminar Brad P. - Women Are Drawn To Courage Braddock - Social Circle Mastery Braddock - The Ultimate Guide to Text and Phone Game Brian Burt & Brian Johnson - Sponsored Products Academy Brian Dean - SEO That Works 2.0 Brian Tracy - Think Like a Leader Bryan Dulaney - Funnel Selling Business Calisthenics Unity - Full Body Workout Program Carlos Xuma - Bad Boy Formula Carlos Xuma - Ultimate Inner Game Carlos Xuma - Secrets of the Alpha Male Carter Thomas - Bluecloud App Formula Charlie Houpert - Charisma University Chris Record - 3 Zero Club & Inner Circle Christian Hudson - Bonuses Christian Hudson - The Girlfriend Activation System V2 Christian McQueen - Deep Conversion Game Christie Marie Sheldon - Unlimited Abundance Connor Murphy - AdonyxMen - God Like Physique Content Promotion Summit 2016 ConversionXL - Ecommerce Growth Masterclass ConversionXL - Google Analytics Master Course Copy Hackers - 10x Landing Pages Copy Hackers - 10x Emails Copy Hackers - Conversion Copywriting Workshop Craig Miller - Sexual Decoder System D-Rion Williams - Alpha Relational Dynamics Daiyaan Caan - Bizz Classes Dan Dasilva & Justin Cener - Social Ad Classroom Dan Henry - Facebook Ads For Entrepreneurs Dan Kennedy - Copywriting Academy Dan Kennedy - Fascination Marketing System DanielRose - Sex God Method I DanielRose - Sex God Method II David DeAngelo - Approaching Women David DeAngelo - Cocky Comedy David DeAngelo - Love the Final Chapter David DeAngelo - Lust David DeAngelo - On Being A Man David Snyder - Attractivation Full David Snyder - Covert Persuasion Intelligence David Snyder - Killer Influence David Snyder - Rapid Attraction Secrets David Snyder - Vibrational Healing David Tian - 10 Weeks to Freedom David Tian - Awakening David Tian - Conversation Vortex David Tian - Invincible David Tian - Limitless David Tian - The Charisma Code David Wygant - 7 Second Seduction David Wygant - Always Talk To Strangers Day Game Mastery - Attraction Formulas DayGame - Daygame Blueprint DayGame - Daygame Immersion DayGame - Effortless Infield DayGame - Geek Get Girl DayGame - The Yad Show Deepak Wayne - Bonus Material Deepak Wayne - Calibration and Logistics Deepak Wayne - Conversation Domination Deepak Wayne - Deepak Infields Deepak Wayne - Deepak's Journey Deepak Wayne - Hardcase student transformations Deepak Wayne - Inner Game Deepak Wayne - Meet Women Every Day preview Deepak Wayne - Texting and Tinder Deepak Wayne - Ultimate Seduction Model Deepak Wayne - Unique Concepts for Success Deepak Wayne - USM modules AUDIO ONLY Derek Rake - Alpha Male Activator Derek Rake - Boyfriend Destroyer System Derek Rake - Conversational Seduction Derek Rake - Cougar Seduction System Derek Rake - Dark Rake Method Derek Rake - Dark Rapport Derek Rake - Insider Lab Derek Rake - Manipulation Black Book Derek Rake - MKDelta Derek Rake - Online Dating Playbook Derek Rake - ReSeduction Derek Rake - Shogun Method Derek Rake - Texting On Steroids Derek Rake - The Barnum Manuscript Derek Vitalio - eduction Science Digital Marketer - Content & Commerce Summit 2016 Dima Sorokine - Adword's Direct Response v3 Display Network Bootcamp 2016 Don Amante - The Sensual Hunter Method Eben Pagan - Wake Up Productive 3.0 Ed O'Keefe - Time Collapsing Course Edward deBono - How You Can Be More Interesting Efficient Pickup - Seduction Mind Hacks Eric Disco - She's Six Steps Away Eric Edgemont - Friends Into Lover Ethercycle - Ecommerce Bootcamp Evil Stifler - Evil Stifler Infields Ezra Firestone & Jason Fladlien - Operation Physical Products Flow Genome - Flow Fundamentals 2.0 Frank Kern - Client Acquisition System Frank Kern - Inner Circle Bribe Frank Kern - Legacy Collection Gabrielle Moore - Naked U Gary Halbert - Sales Letters Collection Gary Vaynerchuk - Building a Personal Brand Glen Allsop - Marketing Inc V3 2016 Grant Cardone - 10X Growth Con 2017 Grant Cardone - 10X Rule Grant Cardone - Be Obsessed or Be Average Grant Cardone - Cardone University (2016) Grant Cardone - Make Millions In Business Video Webcas Grant Cardone - Playbook Grant Cardone - Rules of Success Greg Frost - Photographic Memory Greg Frost - Success Manager Pro Greg Greenway - 53 Laws Greg Greenway - Dating Solutions Greg Greenway - Getting Physical Greg Greenway - Project Royalty Greg Greenway - Sex On Demand System Greg Greenway - Social Supremacy Blueprint GunWitch - Seduction MMA Henry Grayson - The New Physics Of Love Honest Signalz Academy Hypnosis For Inner Game - Hypnosis Downloads.com Hypnosis For Inner Game - Hypnosis Live Hypnosis For Inner Game - Hypnosis Live Hypnosis For Inner Game - Natural Hypnosis Hypnosis For Inner Game - PUA Hynosis Hypnotica - Collection Of Confidence Hypnotica - Modern Day Sexual Man Hypnotica - The Sphinx of Imagination Igor Ledochowski - Conversational Hypnosis Mastery Igor Ledochowski - Covert Trances Hypnosis Igor Ledochowski - Mind Bending Language Roundtable Igor Ledochowski - Power of Conversational Hypnosis Igor Ledochowski - The Money In Your Mind Igor Ledochowski - The Power of Self Hypnosis Igor Ledochowski - The YES Decks Igor Ledochowski - World Class Hypnotic Storyteller IN10SEC - Archive IN10SEC - October Man Sequence IN10SEC - Secret Principles of Pleasure - A Lovers Manual of Secrets IN10SEC - Speed Rapport Workbook - Patterns and Themes IN10SEC - Speed Rapport IN10SEC - Symbolic Morphology Iris Reading - Comprehension Training Course Iris Reading - Focus Course Iris Reading - Memory Improvement Course Iris Reading - Mind Mapping Course Iris Reading - Productivity Course Level 1 Iris Reading - Productivity Course Level 2 Iris Reading - Speed Reading Course for Digital Readers Iris Reading - Speed Reading Foundation Course Iris Reading - Speed Reading Mastery Course J. D. Fuentes - Basic Arousal J. D. Fuentes - Gut Impact J. D. Fuentes - The Sexual Key Jack Ellis - Astral Power Jack Ellis - Becoming The Beast Jack Ellis - Beguiled Jack Ellis - Beyond Mind Control Jack Ellis - Black Magic Tantra Jack Ellis - CIA Hypnosis package Jack Ellis - Elite Social Control Jack Ellis - Erotic Hypnosis Syndicate Jack Ellis - Forbidden Patterns Jack Ellis - Hoodoo Jack Ellis - HypnoRitual Jack Ellis - Occult Superstar Jack Ellis - Pimp Secrets Jack Ellis - Power Mindwaves Jack Ellis - Remote Viewing Mastery Jack Ellis - Satanic Sex Secrets Jack Ellis - Seven Gates Jack Ellis - The Lucifer Complex Jack Ellis - The Manson Effect Jack Ellis - The Secrets of Psychic Power Jack Ellis - UNITROL Jack Ellis - 50 Shades of Seduction Jack Ellis - Backdoor Secrets Jack Ellis - Beyond Storytelling Jack Ellis - Brainwashing Jack Ellis - Confessions of A Cult Deprogrammer Jack Ellis - Dark Yoga Jack Ellis - Forbidden Rituals Jack Ellis - How to Catch a Cheater Jack Ellis - How to Catch a Liar Jack Ellis - How to Get that One Special Girl Jack Ellis - How to Nail Christian Girls Jack Ellis - Hypnotic Hallucinations Jack Ellis - Interview with Jack Ellis Jack Ellis - Mind Rape Jack Ellis - Mindfuckers Jack Ellis - Occult Hypnosis Jack Ellis - Occult Superstar Jack Ellis - Psychic Vampires Jack Ellis - Ritual Mind Control Jack Ellis - Seduction Methods of the Ancient Masters Jack Ellis - Sex Cults Jack Ellis - Sex, Drugs and Brainwashing Jack Ellis - Sexual Brainwashing Jack Ellis - Staggering Seduction Mines Jack Ellis - Subliminal Audio Mastery Jack Ellis - Subliminal Warfare Jack Ellis - The Casanova File Jack Ellis - The Evil Eye Jack Ellis - The Odysseus Code Jack Ellis - The Psychic Self Defense Strategy Jack Ellis - The Secret Society Jack Ellis - The Seduction Code Jack Ellis - Total Orgasm Power Jack Ellis - Turn Defeat Into Victory Jack Ellis - Ultimate Psychic Energy Jack Johnson - Kill Your Porn & Masturbation Habit James Clear - The Habits Masterclass James Marshall - 5 Principles of Natural Seduction James Marshall - Dating Accelerator James Marshall - Marshall Meditation Method Jason Capital - $1K A Day Private Mastermind Jason Capital - 4x Energy Jason Capital - 17 Moves That Blow Her Fucking Mind Jason Capital - 70 Laws Jason Capital - 277 Dirty Talk Jason Capital - Attraction God Jason Capital - Big Dick Big Money Big Life Jason Capital - Carefree Installation Jason Capital - Carefree Installation System Jason Capital - Cash Flow King Jason Capital - Celebrity Series Jason Capital - Charisma God (Attraction King) Jason Capital - Charisma Installation System Jason Capital - Conversation Crack Jason Capital - Conversation God Jason Capital - Dark Side Mind Tricks Jason Capital - Devoted Girlfriend System Jason Capital - Digital Millionaire Live Jason Capital - Dominate your day Jason Capital - Donald Trump Formulaby Jason Capital - Elite Mentor Summit 2017 Jason Capital - Email Millionare Jason Capital - EMR Tapes Jason Capital - Girls Tell All UNCUT (SD) Jason Capital - HardDrive Jason Capital - Harvey Specter Formula Jason Capital - Her Favorite Kisser Jason Capital - Higher Status Video Course Jason Capital - HJGM Jason Capital - Ice Cold System Jason Capital - Inside Donald’s High Status Weapons- Why Donald Trump Will SMASH Hillary This November Jason Capital - Instant Connection Conversations Jason Capital - Jedi Mind Tricks & DSMT Jason Capital - Live Infield Footage Jason Capital - Magic Bag Jason Capital - Magic Bag of Tricks Jason Capital - Make Money Want You Collection Jason Capital - Make Women Want You Jason Capital - Make Women Want You Unleashed Jason Capital - Mental Dominance Jason Capital - Mental Dominance X-Files Jason Capital - Million Dollar Phrases Jason Capital - Millionaire DNA Activation System Jason Capital - Millionaire Switch For Men Jason Capital - Millionaire X Files Jason Capital - Natural Charm Jason Capital - Power Influence Jason Capital - Power Influence System Jason Capital - Power Positioning System Jason Capital - Power Switch Jason Capital - Social God (HD) Jason Capital - Social Media God Jason Capital - Social Proof Bible Jason Capital - Social Switch Jason Capital - STATUS Jason Capital - STATUS Unleashed Jason Capital - Storytelling God Jason Capital - Success Installation Jason Capital - The Capital Secret Jason Capital - The Love Code Jason Capital - Tony Stark Formula Jason Capital - Torrents Jason Capital - Videos Jason Capital - Vinny Chase Formula by Jason Capita Jason Capital - Word For Word Attraction System by JC Jason Capital - 5 Body Language Secrets That Get The Girl Every Time Jason Capital - 7 Forbidden Words That Trigger Female Obsession Jason Julius - Extreme Stamina Jason Julius - Female Orgasm Blueprint (2009) Jeremy Miner - 7 Figures Sales Training Jessica J - Speak To Spark Arousal JMULV - Occam's Razor John Reese - Traffic Secrets (2016) John Sonmez - 10 Steps To Learn Anything Jon Sinn - Advanced Strategies for Sexualized Comfort Jon Sinn - Breakthrough Comfort Formula Jon Sinn - Day Game & Same Day Lays Jon Sinn - Daygame Infield Jon Sinn - Get Laid More Home Study Course Jon Sinn - Opening 2.0 Jon Sinn - Secrets Of 5 Minute Chemistry Jon Sinn - Seduction Roadmap Jon Sinn - Stripper Code Jon Sinn - How To Learn Game Jon Sinn - Instant Dates Jon Sinn - Mastering the Fundamentals Jon Sinn - Phone Game Jon Sinn - Same Day Lays Jon Sinn - Trouble Shooting Day Game Jonathan Altfeld - Irresistible Voice Joshua Earp - SEO Mastery Course Joshua Pellicer - The Tao of Badass Junior Serrano - My CPA ATM Justin Cener - Dropship Bootcamp (2016) Justin Sardi - Video Ads Crash Course 3 Justin Wayne - Conversation Skills Justin Wayne - Step by Step Seduction Justin Wayne - The Domino Effect Ken Wilber - Full Spectrum Mindfulness Kenrick Cleveland - Creativity Switch Kenrick Cleveland - Da Vinci Master Switch Kenrick Cleveland - Magical Objection Mastery Kenrick Cleveland - Meta Level Kenrick Cleveland - Persuasion 911 Kenrick Cleveland - Power of Being Complete Kenrick Cleveland - Propaganda Switch Kenrick Cleveland - Rise Above Kenrick Cleveland - Unconscious Persuasion Kevin Fahey - IM Traffic Facebook Masters Kinobody - Aggressive Fat Loss 2.0 Kinobody - Bodyweight Mastery Kinobody - Greek God Muscle Building Program Kinobody - Kinochef Kinobody - SuperHero Bulking Program Kinobody - Warrior Shredding Program Kinobody - GTP-MainGuide Kinowear - Kinowear-Bible KIZEN - Infinite Off-Season Kyle Cease - EVOLVE Kyle Cease - Transformedy Learn Close Combat Training - Military Hand-To-Hand Combat Leo Gura - Ultimate Life Purpose Liam Austin - Instagram Success Summit (2016) Liam McRae - How to Get Her Sexually Invested in Seduction Liam McRae - Limitless Seducer Liam McRae - Rapid Escalation Life Loaded - Abundance Program Linked University - Connect 365 Love Systems - Beyond Words Love Systems - Charisma Decoded Love Systems - Gentleman's Guide To Online Dating Love Systems - Love Systems Ebooks Love Systems - Love Systems Interview Series 01-70 Love Systems - Relationship Management Lukas Resheske - Copywriting Mentorship Program Magic Leone - zMagic Leone – How to talk to Women (2017) Manish Leone - Silent Seduction Mark Cunningham - Beyond Seduction Mark Cunningham - Building A Better Girlfriend Mark Cunningham - Hypnotic Awakenings Mark Hyman - Broken Brain Docu-series Mark Manson - Approach Women Program Mark Manson - Connection Program Mark Manson - Dating & Relationship Course Mark Manson - Daygame Model Mark Manson - Fearless Dating Mark Manson - Masculine Power Now Mark Manson - Models Mark Manson - Overcome Anxiety Mark Manson - Sexual Confidence Program Mark Manson - The Nerds Guide to Being Confident Mark Manson - The Newbie Guide Mark Manson - The Subtle Art of Not Giving a Fuck MasterClass - Aaron Sorkin - Screenwriting MasterClass - David Mamet - Dramatic Writing MasterClass - Deadmau5 - Electronic Music MasterClass - Dustin Hoffman - Acting MasterClass - Evans Perks - Entrepreneurship MasterClass - Garry Kasparov - Chess MasterClass - Gordon Ramsay - Cooking MasterClass - Hans Zimmer - Film Scoring MasterClass - James Patterson - Writing MasterClass - Kevin Spacey - Acting MasterClass - Steve Martin- Comedy MasterClass - Werner Herzog - Fillmmaking Matt Artisan - PickUpArtist Academy Course Matt Evans - Apples Of Eden Maxwell Maltz - Psycho-Cybernetics Mehow - Infield Exposed! Mel Robbins - The 5 Second Rule Melanie Evans - Narcissistic Abuse Recovery Program Michael Breen - Advanced Language Patterns Michael Breen - Conversational Trance Michael Breen - Habit Hacking Michael Pilinski - She's Yours For The Taking Michael Pilinski - Without Embarassment Michael Spencer - Monster Confidence System Mike Haines - The Domination Principle Mike Koenigs - Consult and Profit (2016) Mike Koenigs - GoLive and Profit Mike Wright - Elixir of Eros Mindvalley - Become Limitless Mindvalley - Quantum Jumping Mitch Miller - Lazy Consultant System MozCon 2016 Videos Mr. X - Lost Tapes Mystery - Mystery Method - The Venusian Arts Handbook Mystery - The Mystery Method - How to Get Beautiful Women Into Bed Mystery - Venusian Arts - Revelation Natural Lifestyle Podcast Neil Patel - Advanced Consulting Program Neil Patel - Advanced Marketing Program Neil Strauss - Emergency Neil Strauss - The Game Neil Strauss - The Truth - An Uncomfortable Book About Relationships Neil Strauss - The StyleLife Challenge New Alpha Education - The Huge Load Formula Niche Authority Empire - Local Profit Breakthrough Bonus Nick Krauser - Day Game Mastery Paul Janka - Closing Paul Janka - Janka Method Paul Janka - Text Game Peter Diamandis - Xponential Advantage Peter Parks - DNA Wealth Blueprint 2.0 Rachel Rofe - The Low Hanging System Ramit Sethi - How To Talk To Anybody Ramit Sethi - Mental Mastery Ramit Sethi - Zero to Launch Reboot Blueprint - Overcome Porn-induced ED Rob Wiser - M.A.C.K. Tactics Robin Sharma - Personal Mastery Academy Robin Sharma - Your Absolute Best Year Yet Roger and Barry - Amafy Ecom Bootcamp (Platinum) Roger and Barry - Virtual Vegas Front Seat (Platinum) Roger Love - Set Your Voice Free Roger Love - The Perfect Voice Roger Love - Vocal Power Rollo Tomassi - Rollo Tomassi - The Rational Male Roosh V - Bang - More Lays in 60 Days Roosh V - Day Bang - How to Casually Pick up Girls During the Day Ryan Deiss - Content & Commerce Summit 2016 Ryan Deiss - Content Marketing Mastery Ryan Deiss - Market Research Blueprint Ryan Deiss - The Launch Grid Ryan Deiss - Traffic & Conversion Summit 2016 Ryan Deiss - Traffic & Conversion Summit 2017 Ryan Magin - Bad Boy Unleashed Ryan Magin - Handsome Guy Secrets Ryan Stewman - Break Free Academy (2016) Ryan Stewman - The Phone Funnels (2016) Sam Ovens - The Consulting Blueprint Sasha Daygame - Direct Dating Summit Berlin Sasha Daygame - Sasha Daygame Podcast Sasha Daygame - Unbreakable Rules Sasha Daygame - Quick Top Tips AA Annihilation Exercises Sasha Daygame - Sasha Daygame - Live In Stuttgart Sasha Daygame - The Direct Daygame Bible School of Squirt - Squirting Triggers 2.0 Scott H Young - Learn More, Study Less Scott H Young - Rapid Learner Course Simple Pickup - About Simple Pickup - Drunk Times With Hot Girls Simple Pickup - Jumpcut Academy Simple Pickup - Jumpcut Academy 2.0 Simple Pickup - Simple Mixology Simple Pickup - Simple Pickup System Simple Pickup - Simple Tips / Others Spencer Michaels - Monster Confidence System SquattinCassanova - Instaconection Steve G. Jones - Hypnotic Pick Up Method Steve G. Jones - Ultimate Conversational Hypnosis Steve G. Jones - Ultimate Conversational Hypnosis (Advanced) Steve Jabba - The Secret Society Steven Peliari - The Art of Covert Hypnosis Street Attraction - Approach 2 Lay Street Attraction - Ebooks Street Attraction - Street-Attraction - VIP Section SD Subcommunication Mastery - Primal Attraction Activation System SwinggCat - Real World Seduction Sybervision - The Neuropsychology of Achievement Sybervision - The Neuropsychology of Leadership Sybervision - The Neuropsychology of Self-Discipline Tai Lopez - 67 steps Tai Lopez - Accelerator Tai Lopez - Entrepreneur Starter Kit Tai Lopez - Lifestyle Training Tai Lopez - MentorBox Tai Lopez - Real Estate Tai Lopez - Social Media Marketing Agency Tai Lopez - Social Media Marketing Expert Training Tai Lopez - Traveling CEO Talmadge Harper - Art of Manifesting Talmadge Harper - Free From Fear - Free From Anxiety 2.0 Talmadge Harper - Sophia Talmadge Harper - Subliminal Alpha Protocol 3 Talmadge Harper - Take Action - Take Control Of Your Life Talmadge Harper - The Elemental Tanner Fox - Affiliate Marketing Mastery Ted Nicholas - Million Dollar Copywriting Bootcamp The 4 Week Natural - Daygame Phonegame The 21 Convention (2007-2014 + Bonuses) The Art of Verbal War - Master of Metaphor The Art of Verbal War - On The Art of Verbal War - People Games The Art of Verbal War - The Hank Moody Guide to Wit The Art of Verbal War - The Harvey Specter Guide The Art of Verbal War - The High Value Man The Art of Verbal War - The King's Mindset The Art of Verbal War - The NEW Art of Being Right The Art of Verbal War - Verbal Domination The Art of Verbal War - Verbal Self Defense 101 The Art of Verbal War - Vocal Superstar The Modern Man - The Ultimate Guide to Conversation The Psychology Of Performance - How to Be Your Best in Life The Social Man - Unbreakable Timothy Marc - Secret Society Mastermind 2015 Timothy Marc - SSM 2015 Tom Torero - Badass Buddha Tom Torero - Street Hustle Tom Torero - Tom Torero Podcasts Tony Ruca - The Alpha System Travis Petelle - E-Com Start to Finish Project Udemy - Alain Wolf Coaching Udemy - Become A Learning Machine Udemy - Become A Speed Demon Udemy - Become a SuperLearner V2 Udemy - Become a SuperLearner V2.5 Udemy - Bitcoin & Blockchain Udemy - Master Persuasion Psychology And Convince People Of Anything Udemy - Master Your Emotions & Revolutionise Your Social Skills Udemy - Reveal Your Humor Social Life & Communication Skills Udemy - The Ultimate Intermittent Fasting & Fast Weight Loss Course Udemy - The Ultimate Morning Routine Guide Udemy - Ultimate Facebook Ads Course - Build A Viral Facebook Page! (2016) Vanessa Ed Edwards - The Power of Negotiation Vanessa Ed Edwards - Captivate-The Science of Succeeding with People Vick Strizheus - High Traffic Academy 2.0 Vincent Dignan - Secret Sauce - The Ultimate Growth Hacking Guide Zack Browman - High Status Humor
There are very few investments that can deliver an infrastructure-style downside case with a venture-capital-style upside. The combination of More volatility could be in store for bitcoin because of the equity market and 80k BTC option contracts expiring this week. Meanwhile, as DeFi tokens plunge hard, ETH could record more losses. by AnTy. September 21, 2020. Home Bitcoin News Bitcoin (BTC) Price. Facebook. Twitter. Telegram. ReddIt. Linkedin. Email. Bitcoin has been stuck around $11,000 since the middle of last week, very slowly ... If the stock market crashes, bitcoin is extremely likely to tank for a few weeks, but it won’t break crypto. If you sell your BTC and it doesn’t fall and suddenly jumps $2,000 you will be ... Retest Of Resistance Turned Support Could Put Nail In Bear Market Coffin. Ethereum has had a breakout 2020, beating Bitcoin by a large margin, and even after some short-term decline is up well over 180% year-to-date.. The altcoin ballooned all year long due to the strength of the DeFi trend, which only recently began to wane itself. The momentum shifted toward Bitcoin, which has only crushed ... But does that mean that Bitcoin would keep rising forever after closing above $16,000? One analyst thinks it won’t. Crash Call. A pseudonymous trader, operating under the first-name alias ‘Loma,’ stated that Bitcoin would experience its “first real crash” despite staying in an extended bull market.
Brutal Stock Market Crash Exposes an Even Uglier Truth About Bitcoin
This video is unavailable. Watch Queue Queue. Watch Queue Queue Queue Sawcruhteez Streamz: Close Look at Bitcoin, ETH, Gold and the S&P 500 Sawcruhteez Streamz 264 watching Live now Trendline Trading Strategy: 4 Powerful Techniques to Profit in Bull & Bear Markets ... Noob's Guide To Bitcoin Mining - Super Easy & Simple - Duration: 11:37. UFD Tech 2,457,948 views. 11:37 . Why I think Gamestop stock is undervalued! - Duration: 14:47. Cyberworld 7 226 views. New ... The bitcoin price crashed more than 10% on Monday, reaching an intraday low of $7,689.00 on Gemini. The largest cryptocurrency by market cap continued to trade near session lows at the time of ... What are the most likely scenarios for bitcoin and cryptocurrencies if the major stock markets were to fall into a major crash or bear market? The answer dep...