Cryptocurrencies

The Sunday Crypto Recap -Down the Rabbit Hole 40

Once again, the stars aligned for Bitcoin with the FED clearly capitulating to political pressure and dropping rates and the trade war rhetoric between the US and China once again heating up. With elections looming does a deal seem likely? Of course, careful what you wish for as BTC is still in all probability a risk-on asset – so a global crisis might well see a steep sell-off. My two cents – global uncertainty is bullish for crypto while a full-blown recession would be very bearish at least in the initial phase of an economic turndown.

As to the charts, BTC is attempting to push its head above the parapet but very weak volume remains a considerable concern in the short-term. Nonetheless, recent price action has been bullish.

Leverage trading seems to be shilled everywhere recently – this period of thin volume is the absolute worst time to enter leveraged positions – it’s effectively degenerate gambling. Speaking of degenerates, who asked for 1 second charts on TradingView?


Picks of the Week

This article’s examination of the psychology underlying incentives, co-operation, and the decentralized web is a standout this week with Off the Chain’s interview of Saifedean Ammous also incredibly interesting.


Twitter

An ongoing series and a great recap of the top themes from the last week in crypto:
https://twitter.com/nlw/status/1155915912005836801

A wide-ranging analysis of the month of July for the crypto space (highly recommended):
https://twitter.com/BitwiseInvest/status/1157038072195760128

Fully collateralized is to be applauded (literally):
https://twitter.com/spencernoon/status/1156359538628427776

Print money buy private companies -nothing can go wrong, right?:
https://twitter.com/zhusu/status/1156433611899297793

Too early to link BTC to Fed monetary decisions – Alex Kruger certainly thinks so:
https://twitter.com/krugermacro/status/1156427501578702849

Read-reread and ponder:
https://twitter.com/BTC_Macro/status/1156416220670889984

On trading (light-hearted):
https://twitter.com/jebus911/status/1156264134599761920


Articles

Examining the psychology of the emerging decentralized web (highly recommended):
https://hackernoon.com/psychology-of-the-dweb-fe61039ob

A wide-range of opinion snippets on BTC as a store of value (recommended):
https://cointelegraph.com/news/is-bitcoin-a-store-of-value-experts-on-btc-as-digital-gold

EOS governance is exhibiting challenges and no easy solutions are forthcoming (highly recommended):
https://www.eoswriter.io/152469_eos-vote-buying-rewards-for-voting-or-a-decentralised-network-.eos

Thankfully at least some US politicians realize that a ban on BTC is unlikely to succeed:
https://www.forbes.com/sites/ktorpey/2019/07/30/us-lawmakers-are-realizing-they-cant-ban-bitcoin/?utm_source=TWITTER&utm_medium=social&utm_term=Carrie%2F#35a1c6a23e31

Well, that didn’t last long (centralized entities have obvious pressure points that significantly undermine advantages of scale:
https://www.coindesk.com/facebook-libra-might-not-ever-launch-concedes-firm?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic

An overview of token burning mechanisms in crypto:
https://cointelegraph.com/explained/token-burning-explained


Podcast

BTC discussed from the perspective of Austrian economics (highly recommended):

https://podcasts.apple.com/au/podcast/saifedean-ammous-author-bitcoin-standard-future-bitcoin/id1434060078?i=1000445032350


YouTube

Inflation is perhaps often overlooked when considering crypto investments:


A brief but reasoned outline of possible BTC price movement from here:


A wide-ranging update on the state of the EOS dapp ecosystem (recommended):


Zero Knowledge proofs and their function explained:


Infographic

Yep, that’ another ATH for BTC Hash Rate:

https://www.blockchain.com/charts/hash-rate?timespan=all


Fed easing rates with a strong labour market – generally a harbinger of an economic downturn (1997 Asian economic crisis being the exception):

https://twitter.com/TaviCosta/status/1154813996941238273

See you all down the crypto rabbit hole before you know it! As always, looking forward to your comments and suggestions.


Note on Sources:

Twitter & Reddit (cryptos current meta-brains) / Medium / Trybe / Hackernoon / Whaleshares / TIMM and so on/ YouTube / various podcasts and whatever else I stumble upon. The aim is a useful weekly aggregator of ideas rather than news. Though I try to keep the sources current – I’ll reference these articles and podcasts etc. as I encounter them – they may have been published just a couple of days ago or in some cases quite a bit earlier.

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