The way I'm thinking of it..
Is that the $BTC cycle is definitely over.
That is, the cycle of DAT buying, SBR hype, and record ETF flows.
BUT, here's the caveat. "Cycle is over" as a headline freaks people out - as they instantly get 2022/23 PTSD - but it really depends on your definition of "cycle".
I'm not a subscriber of the 4-year cycle, as crypto is more driven by macro/flows/narrative now than ever.
Currently, we're in the process of finding a floor as we wait for the *next* cycle trigger.
Very likely that it's driven by debasement/AI energy race/liquidity expansion.
This could come in a matter of weeks/months.
It doesn't have to be 4 years.
BTC is a macro asset now.
Adapt and play accordingly.
Update: US Government Sends $240M BTC to Coinbase Prime
The US Government just moved 3,940 BTC ($240M) to Coinbase Prime.
This BTC was originally seized from narcotics trafficker Banmeet Singh, and forfeited at trial in January 2024.
Transaction: https://t.co/1Lm72FXV6Y
A world first: a demonstration of AI running *on* blockchain as a smart contract π§ β‘οΈ
The Internet Computer is used β the world's first 3rd gen. blockchain #ICP. AI will become the beating heart of our web3, multi-chain world, and this is only my first demo.
Code will follow shortly. This is running on DFINITY's Internet Computer testnet, but you'll be able to take the code and run it on the public network as the NNS is expected to up the per-transaction instruction limit in the coming days.
Some important notes. The inference engine used has not been optimized, and we will show vastly greater efficiency in subsequent demos, where the AI runs even faster, and consumes less gas/cycles.
We will also propose to the NNS that smart contracts have access to SIMD instructions β which we have determined are deterministic β unlocking vastly more speed and efficiency.
Lastly, currently the actor smart contracts ICP hosts run inside a 32 bit environment, which limits their main memory to 4GB. Within the next couple of months, we expect the Internet Computer to move to a 64 bit environment, allowing smart contract memory limits to be raised much higher βΒ allowing for models with far more parameters, and thus power, to be run.
Those of you who have followed my posts know that hardware optimization support is planned. Firstly this will involve WASM smart contracts shipping out matrices for processing by the CPUs on existing node machines (another advantage of the Internet Computer running on sovereign node hardware).
Secondly, we plan to propose a new public node machine specification, which node providers can build to, for use in subnets specialized for hosting AI smart contracts, in which each machine will incorporate several GPUs. Naturally, this will be packaged with other technological developments that ensure smart contract determinism.
This is part of our mission to enable powerful LLMs to run as smart contracts on the Internet Computer β in a forms that are tamperproof, unstoppable, and optionally autonomous (including under the exclusive control of DAOs).
Our vision: you will be able to have a chat with a smart contract. A smart contract will be able to coordinate your organization (see my earlier tweet about a "Delphi"). ICP smart contracts will be able to audit Ethereum smart contracts, kitemarking those without backdoors and reentrancy bugs. And smart contracts will be able to do KYC autonmously, matching faces to driving licenses, and more.
We will deliver new SDK enhancements, and work with partners, to turbocharge crypto AI developers.
Secure and unstoppable AI and third generation blockchain will be two sides of the same coin. Security and AI will be indivisible. AI models will be traded as NFTs. Thanks to Internet Computer's chain key (trustless multi-chain) capabilities, all blockchains will be able to leverage AI smart contracts.
The future is beyond exciting. Thanks for watching. Can't wait to give you more demos!
π’ITS CAPITAL ALLOCATION SZN ON GREENPILLπ’
@Flynnjamm joins me to chat
1. @boost_xyz & direct to contract incentives
2. how EIP-4844 changes the game with cheap txns
3. a future where ppl earn boost rewards
watch => https://t.co/pJVlOh7IZA
The concept of #MycoFi mycelial finance beckons us to learn from the ancient wisdom of nature, interlacing economic design patterns with the rhythm of life forms that have adaptively co-evolved over billions of years on this planet...
DROP ALERT π₯ GITCOIN 2.0 WHITEPAPER:
GRANTS = GROWTH
Written by @owocki & @meglister, this whitepaper illustrates how grants are pivotal for ecosystem growth and Gitcoinβs evolution from 1.0 to 2.0 π
Gitcoin 2.0 introduces diverse capital allocation mechanisms and embraces multiple EVM-based networks. The paper also explores Gitcoinβs modular solutions tech stack.
Read the paper: https://t.co/IvxM5LwN8V
2 years from ICP's groundbreaking beginnings to its global impact, get ready to be inspired by the resilience, innovation, and endless possibilities on the #WorldComputer βΎ
The time for the #InternetComputer is now π
@dominic_w walks us through the ICP adventureπ
$BTC
THE GUPPY HAS FLIPPED GREEN
Unless this is a fakeout, which has only happened twice on the bitcoin daily chart, the trend has officially been reversed.
This is where you should start longing every bullish SFP (with stops)
Latest on #Bitcoin π§΅:
There's record high demand as seen in record-high inflows into accumulation addresses (addresses that only receive Bitcoin and never spend).
$DOGE is the king of memecoins and it will have its dominance move
Recall that the roadmap focuses specifically on payments
& Elon retweets Dogecoin's designer a dozen times a week. Elon is a people's man and I doubt he keeps his silence on Doge/X payments much longer
Also recall that Vitalik is working with the team on staking
Language & money are crucial for human cooperation. Better money leads to more cooperation, more trade, more specialization, better investments. Bitcoin is better money, P2P digital gold without trusted third parties, without debasement. Bitcoin will bring the next Renaissance!
Prediction: A national government will be revealed this year to have been buying Bitcoinβthe modern replacement for monetary goldβwithout having disclosed that fact publicly.