Crypto LVL

2021-02-27 20:30:00 ​​Why Bitcoin Likes a Hard-On Environment.

I want to re-examine the current macroeconomic environment and how it impacts the Bitcoin (BTC) price. It has been a rough week so far, but one thing I can be sure of is that Bitcoin loves hard-on macroeconomic conditions.

I wrote much about this in a report in conjunction with Bitstamp last summer, I concluded that Bitcoin is happiest when the economy is strong (bond yields are rising), with inflation rising concurrently.

This simple model I concocted a decade ago lays out a framework to understand asset allocation. Below the line sit financial assets such as bonds and equities. These do well in a disinflationary environment, such as the one we have lived through since the early 1980s. Above the line are hard assets, such as gold (and TIPS), and Bitcoin (and commodities, heavy industry, emerging markets and banks). To the left, we have gold and bonds that are defensive when the economy is weak under “risk-off” conditions. On the right, the economy is expanding, the bond yield is rising, and conditions are said to be “risk-on”.

In summary, bonds and equities are soft assets, while Bitcoin and gold are hard assets. Bitcoin and equities prefer risk-on, while bonds and gold prefer risk-off. You can think of it like this; bonds like soft-off, equities soft-on, gold hard-off and Bitcoin hard-on. No giggling please, I am deeply serious here.

A decent hard-on requires not only inflation but economic growth to boot. Here I update the chart from the Bitstamp report, which demonstrates how Bitcoin has done best during risk-on conditions when the US 10-year government bond yield has been rising.

What about inflation?
Moving onto Bitcoin and inflation, you get a similar picture, yet the results have not been quite so compelling. During the red inflationary periods, Bitcoin rose from USD 1 to USD 47 by 2013, then USD 432 to USD 9,299 between 2016 and 2018. And in the current cycle, a timely buy at USD 5,948 in March 2020 to today’s USD 50,000. For the blue deflationary boxes, you buy at USD 47, sell at USD 432, buy at USD 9,299, sell at USD 5,948, and would be out of the market today. Open / Comment

2021-02-27 13:30:11 ​​DeFi projects are no longer dependent on Ethereum!!

According to statistics, provided by defi prime there are 222 DeFi projects listed and 210 of them built on Ethereum

But Ethereum definitely DeFi lovers. As a result of their actions ( absence of their actions actually ), the gas fee went crazy.

Anton Bukov, CTO of one of the most popular DeFi projects 1inch expressed his thoughts about this situation.

“So sad to see we are loosing Ethereum, because of miners inefficiency and passiveness. We need weighted average “blockGasLimit” vote of all the ETH owners to be recomputed on every ETH transfer.”


High gas fees will certainly cause the disappearance of many projects. But 1inch is not the case. With such an instant reaction to changes, this DEX-aggregator are going to live forever.

Two days after the previously mentioned message from Anton Bukov 1inch branched out from Ethereum to the bustling Binance Smart Chain.

“Currently, we consider BSC to be an alternative solution to the Ethereum mainnet in terms of lowering gas costs for interacting with smart contracts,” said 1inch co-founder Sergej Kunz. “As gas price stays too high we see a lot of projects, tokens and users coming to BSC, and this is the right moment for the 1inch to expand to other blockchains.” he adds

What is more, 1inch is the implementation of a project that adores its community. 0.01% of the 1INCH total supply will be distributed as rewards to liquidity providers of BNB-1INCH pool. Don't miss your chance to participate. Open / Comment

2021-02-25 17:45:38 HASH Token – Live on Coinsbit this Friday

Meet Hashbon – the European secure and easy-to-integrate payment crypto gateway for global businesses and individuals.

Founded in 2016, the company operates as a payment provider for B2B and B2C markets. It allows users to accept, transfer, or exchange over 30 digital coins.

Hashbon launched its own native token, HASH, in February 2021.

The token will soon reach its first exchange — Coinsbit— on February 26th, where it will be available for purchase and trade. HASH token holders will receive significant benefits like cashback and lower exchange rates inside the Hashbon payment system.

The Hash token can be tracked in Etherscan and BSCScan.

CoinMarketCap, Bitcoinist, iHodl and CoinCodex about Hashbon.

Don’t hesitate to become a member of 10,000+ Hashbon Community! Open / Comment

2021-02-24 20:01:03 ​​Craig Wright Sends His Lawyers Against Bitcoin Developers.

The outspoken Australian, Craig Wright, dubbed “Faketoshi” due to his unproven claims that he's Satoshi Nakamoto, made another move that left the cryptoverse bewildered.

UK-based litigation law firm Ontier said it begun legal proceedings against a number of unspecified Bitcoin (BTC), Bitcoin Cash (BCH), and even Bitcoin SV (BSV) developers on behalf of Tulip Trading Limited (TTL), controlled by Wright.

Per the firm, TTL "is requesting that the developers enable TTL to regain access to and control of its bitcoin," allegedly stolen from Wright in February 2020.

"The Developers owe Bitcoin owners both tortious and fiduciary duties under English law as a result of the high level of power and control they hold over their respective blockchains," Ontier said, adding that the value of the claim as at today’s market rates will be in excess of GBP 3.5bn (USD 4.94bn).

According to Paul Ferguson, Partner at Ontier, "the fact that someone has stolen Tulip Trading's digitally-held private Bitcoin keys does not prevent developers from deploying code to enable the rightful owner to regain control of its bitcoin."

The cryptoverse was quick to react.

"This is crazy. The developers don’t run these chains, they just maintain the codebases. This is like threatening [Linux developer] Linus Torvalds because you lost your Bank of America password," a partner at US-based law firm Anderson Kill, Preston Byrne, said. Open / Comment

2021-02-21 21:00:23 This Telegrams channel is very useful

Here you can find gift-cards and discounts for goods and services of famous brands. Stop to pay full price for sneakers or flights! So many people already save with our gift-cards.

The saying "Doesn't matter if you wear old sneakers when you travel” is outdated.

Walk in your new shoes along the street during your dream holiday with the help of our channel t.me/BH_GIFT_CARD Open / Comment

2021-02-21 20:00:47 ​​MicroStrategy Raises "Free" USD 1B to Buy More Bitcoin As It Hits USD 1T Market Cap.

One of the most bullish non-crypto companies, US-based software developer MicroStrategy, confirmed that its latest offering of convertible senior notes was sold out and it aims to spend over USD 1 billion on bitcoin (BTC) again. The market capitalization of the most popular cryptocurrency just surpassed USD 1 trillion today, per market data aggregators.

"The aggregate principal amount of the notes sold in the offering was USD 1.05bn," the company said, adding that it estimates that the net proceeds from the sale of the notes will be approximately USD 1.03bn.

"MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoin," the company confirmed.

As reported, this offering was different from the previous one last year because the company this time raised the money "for free" by selling 0% convertible senior notes due 2027.

The notes are convertible into cash, shares of MicroStrategy’s class A common stock, or a combination of cash and shares of MicroStrategy’s class A common stock, at MicroStrategy’selection.

At the end of January, the company owned approximately BTC 70,784 (currently USD 3.9bn). At today's prices, for USD 1.03bn they could buy BTC 18,685.

At the time of writing, BTC trades at USD 55,133, hitting another all-time high. The price is up by 6.5% in a day and 15.5% in a week. It rallied by 53% in a month. Meanwhile, as market data aggregators claim that BTC's market capitalization surpassed USD 1 trillion today, some analysts say this number might be overstated.

"Bitcoins market cap hitting USD 1trn demonstrates the mainstreaming of cryptocurrency as a store of value. Most of us in the market view this milestone as validation for the entire market. In this way, Bitcoin acts as a rising tide that raises all boats. We expect that Bitcoin is only the first of many USD 1trn market caps that we'll see in the blockchain economy," Adam Liposky, Ecosystem Operations Lead at Pocket Network, a blockchain data ecosystem for Web3 applications, said in an emailed comment. Open / Comment

2021-02-18 21:00:42 ​​The Bond King Goes From 'Bitcoin Is A Lie' To BTC 'Maybe The Stimulus Asset'.

DoubleLine Capital LP chief Jeffrey Gundlach, known as the Bond King, now says that bitcoin (BTC) "maybe The Stimulus Asset" after claiming last October that it is "a lie." (Updated at 15:01 UTC with a comment from Anthony Pompliano and a video.)

"I am a long term dollar bear and gold bull but have been neutral on both for over six months. Lots of liquid poured into a funnel creates a torrent. Bitcoin maybe The Stimulus Asset. Doesn’t look like gold is," he tweeted today.

Indeed, gold dropped by 68% vs BTC in the past 3 months and by 79% in a year. Meanwhile, USD dropped by 66% in the past 3 months and by 81% in a year.

As reported, Gundlach made a name for himself in the investment community in his former role as the head of the USD 9.3bn TCW Total Return Bond Fund, and Forbes claimed in 2018 that he was worth a cool USD 2bn. In a recent video interview, Gundlach stated that he was “not at all a bitcoin hater.” However, in the same interview, he also dropped this pearl: "I don't believe in bitcoin. I think that it's a lie. I think that it’s very tracked and traceable. I don’t think it's anonymous.” Well, he's right about this - BTC is not really anonymous and its users can be traced. But let's see how the Taproot upgrade will change this.

"The question that I keep asking myself is "how long will gold bugs hang on to their gold while they watch the digital store of value gain market adoption?" The short answer is that no one actually knows. Some people are likely to bail in the short term because of the US dollar price of bitcoin. Some people will take time to critically think about their world view and then change their mind. And a few people are more focused on being "proven right" than actually "being right," Anthony ‘Pomp’ Pompliano of Morgan Creek Digital wrote in his newsletter today. Open / Comment

2021-02-18 18:08:23 Why to become a HASH holder?

HASH will be listed on Coinsbit exchange on February, 26.

The token was issued just 2 weeks ago and already demonstrated stable growth – don’t hesitate to join Hashbon Community!

Its members have an early access to bounty-earning opportunities and connection with the outstanding Hashbon project operating in the crypto space since 2016. Hash token holders will earn rewards soon – special features inside Hashbon ecosystem, e.g. lower exchange rates. 

Hash token contract address is 0xeb1112ac78d537853150e2a07e8b765e29d3f019.

Feel the beat and don’t miss HASH opportunity! Open / Comment

2021-02-17 14:41:05 Breaking: Bitcoin just hit a new All time high of 51000$

Don’t miss the Bitcoin train and join: https://t.me/Cryptovipsignalsclub for daily Bitcoin signals Open / Comment

2021-02-15 20:00:58 ​​PwC Chief: Mexican Companies Want to Follow Tesla into Bitcoin Investment.

Mexican companies are developing an interest in following the lead of companies north of the border – and could seek to emulate the bitcoin (BTC)-buying leads of United States-based companies like Tesla.

These were the conclusions of a report from El Economista, which quoted Mauricio Hurtado, managing partner of PwC Mexico as stating that Mexican firms were now keen to climb aboard the bitcoin bandwagon.

Hurtado claimed that while in the past firms were concerned that a lack of regulatory oversight body made crypto too risky as an investment asset, things have changed in recent times – and added that many feel they simply cannot afford to stay out of “what is happening” around them.

He claimed that Mexican firms’ confidence in crypto investment has been “raised” by other players’ transactions, with MicroStrategy and Square also active in the bitcoin-buying field, while major international banks have also made their crypto intentions clear.

And the PwC executive added that “a significant number of players” see “these currencies” as a “reliable transaction mechanism.”

He said,

“Therefore, businesses are adjusting to market realities in order to prevail and gain an advantage over their competitors. We are seeing an important change in this regard.”

Hurtado also opined that “technological changes” have made many entrepreneurs, such as Tesla’s chief Elon Musk, develop “a greater acceptance of cryptocurrencies as a means of payment in commercial transactions.”

He concluded that the trend toward crypto was something that PwC, “as a firm” was “very” aware of “in terms of market consumption patterns.” Open / Comment