Saudi Central Bank Hires Crypto Chief to Boost Digital Ambitions

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It can happen, although, #exchanges would collapse because everyone would just go to hardware wallets, it would be so 2009. #bitcoin #gold #eth

I wonder what the LAST message will be Sorry, it was Pseudonymous, not Anonymous my bad.? #satoshinakamoto #bitcoin #btc #satoshi

Creating a database of crypto investors can be a daunting task. Luckily AlphaGrowth put it together so you can now save most of your research time. Check it out and share for maximum spread

investors | AlphaGrowth alphagrowth.io

The#Cryptobriefing#YOUshould#READevery#WEEK(#36) In 10 bullet points, let’s go: 1)#Bitcoin px is 19,834 below the 50d MA 22,163 -> this is bearish, px WoW #decreased by -1.2%; #Ethereum px is 1,567 below the 50d MA 1,609 -> this is bearish, px WoW #increased by 4.7%; overall the trend is down -> #bearish; 2)Ethereum #outperforms Bitcoin currently as the trend (20d) MA shows ETH/BTC ratio is going up, crypto is driven by alpha factors, this is #positive, find #idiosyncratic trades; 3) The Global Crypto #market #ap #increased by 1.9% WoW to $1.02trn, below the 50d MA ($1.09trn), which is #bearish, Bitcoin #dominance at 37.6% for the week (below the 50d MA 39% – > as alt coins outperforming), this is #bullish; 4)Global Crypto trading #volume decreased by -33.3% WoW to $63.7trn, below the 50d MA ($95.6trn), which is #neutral, weekly Bitcoin volume was -13% lower than avg. while Ethereum volume was -6% lower than avg.; 5) Top 3 #stablecoin mkt cap ($138.7bn) is in the 11%ile range, volume ($33.7bn) is in the 2%ile range (last 3m), Mkt cap WoW -0.4% or $-0.5bn, USDC sees $-0.5bn WoW #outflows, money likely put to work in projects; 6)#TVL (Total Value Locked) increased by +6.3% (or by $+3.2bn) WoW, & now stands at $70.8bn, notably #Lido TVL increased by +6.9% to $6.5bn, TVL inflows driven by #Staking sector with $0.51bn inflows to $6.81bn, #Lido dominance 94.7%; 7)The # of active Bitcoin #addresses has #increased by 1% over the last 1 week, to 783k, this is bullish, # of active Ethereum #addresses has #decreased by -9.8% over the last 1 week, to 674k, this is bearish, Ethereum weekly #transaction #fees are -29.7% lower than avg., this is #bearish; 8) The #futures #funding rate trades #positive for Bitcoin (0.3%) and the funding rate is #positive for Ethereum (0.1%), BTC #futures #open #interest ($9.9bn) is in 19%ile range, this is #bearish – ETH futures open interest ($6.9bn) is in 54%ile range, this is #neutral; 9)Bitcoin #futures saw avg. daily #liquidations of $28m, historically, liquidations print $73m, this is seen as #neutral, #Ethereum saw avg. daily liquidations of $77m, historically, liquidations print $67m, this is seen as #neutral; 10) The #NFT market cap (top 100 projects) stands at 2.65mln ETH or $4.15bn, an #increase of 1.9% over the last 1 week, this is #bearish as its below the 50d MA (3.14mln ETH), # Bored #Ape #Yacht #Club market cap 699.5k ETH with the #floor #price #decreased by -3.5% for the week. Follow us for some updates… Agree? Feedback? What’s missing? Leave a comment!

#Bitcoin inflows remain depressed. Retail is obviously not enough to revive the #BTC bull. BTC needs serious institutions to get involved.

The proposed #tokenomics plan of a new layer 2 #blockchain is showing the importance of liquidity backing to sustaining the community even more than expected! Can’t wait any longer to launch and develop the chain. #decentralizedfinance #dapp #NFT

Saudi Arabias banking regulator recently appointed Mohsen AlZahrani to lead its virtual assets and central bank digital currency program in a sign of the Gulf states potential crypto ambitions. Saudi Arabia has until now taken a more cautious approach on virtual assets, with officials raising concerns about their speculative nature. Yet the emergence of the neighboring United Arab Emirates as a global crypto hub has created some urgency in Riyadh to draft more formal rules for the asset class, people familiar with the matter said. #currency #digital #saudiarabia #unitedarabemirates #crypto #cryptoassets #cryptomarket #digitalcurrency

Saudi Central Bank Hires Crypto Chief to Boost Digital Ambitions bloomberg.com

Apparently, Proof of Work (literally burning money) is not the silver bullet to the global economy after all. It is horribly, horribly inefficient apparently. Who would ever have thought?
[PS POW was first conceived in the 1990s as a cute way to cut down on spam email – that didn’t take off either, but was a nice use of cryptography]

Some apostate coiners are already beginning to diss the old religion and going for ‘Poof of Stake’ (POS) as the savior for crypto-world. Hallelujah! But is POS really the best way to choose how to create new money? POS works on the principle that the right to print money should be a lottery, the more tickets you buy the more chance you have of winning.
[Of course it is dressed up in the usual crypto-gobbedlygook but is basically a lottery]

Of course, unless organized by an independent lottery manager, lotteries can be gamed, watch out for tax frauds and money laundering https://lnkd.in/gGi28hdz Anyway, off we go around the track one more time but we will be back here in a few years dissing POS as the worst idea ever. Next time POST (Proof of Stupidity)?

Father and Sons Are Charged in $21 Million Lottery Fraud https://www.nytimes.com

I will reiterate my call that the S&P 500 Index will lose at least 50% from its 4,800 high by end 2023 and that we are in a bond bear market as long as the Fed does not raise the overnight borrowing rate to at least 5%. I expect gold will fall well before my $1540 short covering target and possibly as low as $800 in early 2024. High yield debt or EM equities/property will be the equivalent of an investor injecting the HIV virus in their blood stream. I see King Dollar as 20% higher and the only thing Chinese I will consume is chop suey and moo goo gai pai at one of the DIFC’s excellent eateries. Private debt is fine if you care only about return on capital and not return of capital. I am not a permabear like Dr. Grantham or a Dr. Doom du jour, even though I got the 2008 crash and the DFM/property meltdown in 2014 exactly right in published media articles. I will spend this autumn and winter plotting my own Big Short strategy and remembering the beautiful pre-Covid, pre-Putin golden spring time of my jeunesse dore (2/2)

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