Reverence

I post my thoughts on the market.

[Reverence @ReverentTrader]

A thread 🧵Views on $ZEC so far...

1/ So far it's gone from breaking all time high to $1550 today. But what's caused it?

So far there have been three legs pushing it up. See vertical blue lines for rough dates

[Andrew Yeung @andruyeung]

We created gyms because modern day work no longer required physical activity. Without exercise, our muscles atrophy.

I predict we’ll need gyms for our brains too, once AI starts doing our knowledge work.

[Reverence @ReverentTrader]

@simpelyfe What's the approach you reckon is now the way to go?

[Reverence @ReverentTrader]

@Trader_XO $ZEC is going to zero, everyone short it!😄

[Reverence @ReverentTrader]

9/ Upside confirmation would be a break above about $1,650 led by spot CVD, not by funding spiking.

[Reverence @ReverentTrader]

A thread 🧵Views on $ZEC so far...

1/ So far it's gone from breaking all time high to $1550 today. But what's caused it?

So far there have been three legs pushing it up. See vertical blue lines for rough dates

[Reverence @ReverentTrader]

8/ If $BTC loses ~$82.5k, altcoins may get sold regardless of their own flows.
Yields: rising yields keep pressure on risk assets.
No squeeze fuel: with shorts already cleared, the next leg up has no squeeze to help it.

[Reverence @ReverentTrader]

"Are you high bro?" 😂

[Jackjonestv @jackjonestv]

“Asking men for a hug because I was having a bad day ❤️”

[Reverence @ReverentTrader]

@trader1sz True, you should short more of it
And get all your 600k followers to short it too 😎

[Kris Sidial🇺🇸 @Ksidiii]

This is a heuristic I learned early in my career that has saved me a good deal of money.

Generally speaking:

If you are short an asset and it experiences a stream of negative news that fails to push the asset lower, get out.

If you are long an asset and it experiences a stream of positive news that fails to push the asset higher, get out.

[Cypherpunk @cypherpunk]

The "Shielded Bitcoin" paper is a great step forward. More privacy on Bitcoin is good for everyone.

Fun fact: Zerocoin, the paper behind Zcash, was first proposed for Bitcoin in 2013. The Bitcoin community passed on it, as zero-knowledge proofs were still immature.

But the solution the paper presents is not competition for Zcash:

- It uses a trusted setup
- There's no consensus enforcement
- No trustless light clients
- Its bridge, usually the most hacked part of these designs, isn't specified yet
- Bitcoin L1 transaction fees
- It doesn't have a >$7B shielded pool with millions of transactions to hide in
- It's a paper. Zcash has ~10 years in production, pioneered ZK proofs in production, and has the wallets, audits, and hardware support.

More broadly: privacy works best when built into the base layer. Not requiring Bitcoin changing is this design's biggest selling point, and also its biggest drawback.

We're rooting for more privacy on Bitcoin. Financial privacy isn't zero-sum.

[Reverence @ReverentTrader]

@simpelyfe Get married and have kids, spread your seed brother

[Reverence @ReverentTrader]

@MelMattison1 True

[Reverence @ReverentTrader]

@OhMyOhMar 💯, I've noticed that too
There are some super duper smart ppl on here

[Reverence @ReverentTrader]

@dampedspring You're never forgetting that one lol