Jay Berg

1st to tweet $BTCUSD. @SidepitExchange Bloomberg '98, Fortress '07, Bitcoin '10, Sidepit '23 ☀️ᚠ 🥪

[Jay Berg @jaybny]

$BTCUSD 12.00 new high! http://t.co/OkGUeE9v $$ @zerohedge

[Jay Berg @jaybny]

@bitcoindad_AU @jyn_urso there are a less amount of dollars chasing a similar amount of bitcoin (buyers). and a higher amount of bitcoin chasing a similar amount of dollars (sellers). pretty sure.

[Jay Berg @jaybny]

$61.31k
capitulation?
buy $btcusd - 61 stop

[Jay Berg @jaybny]

Sidepit, is the closest you're gonna get.

Decentralized or immutable is not a goal or utility of fair markets. This secondary focus is also the reason why decentralized exchanges have failed.

Instead we focus on transparent distributed far markets with a level playing field and transparent price discovery at the core. starting with bitcoin.

[Jay Berg @jaybny]

This a market crash. Oct 10th was a flash crash. Real selling vs broken structure.

Sidepit doesn't stop prices falling. It fixes the structure: no front-running, no vanishing liquidity, fair fills when it matters most.

Hedge your Bitcoin risk with Bitcoin.

[Arkhai @arkhai_io]

Today we're launching Simple Compute Market (SCM).

The market is simple: agents find compute, negotiate, settle, and get access without a human driving every step.

Open-source. Agent-driven. Public good. No token. No fees.

[Jay Berg @jaybny]

@VentureCoinist Sidepit fixes this

[Jay Berg @jaybny]

$82.8k was the number. 58k next 🍿

[Jay Berg @jaybny]

$111,919 is not going to support much selling I'm afraid

[Jay Berg @jaybny]

bitstamp - coinbase
$59,930 - $60,001
aka the 2020 exit liquidity zone

look like sneakily juicy stop below 58k handle

meanwhile only resistance is 84k

i dont believe even a hyper purp short squeeze can lift spot - it starting to feel like the highs are in at $66.725k

is there enough below 64k. not likely.

[Jay Berg @jaybny]

@notsofast they do this every 20 years - ai slop

[Jay Berg @jaybny]

@FrankRundatz @Jayd603 it's all about the known latency to other cexs for arbitrage.. market makers are not building for untested backup latency numbers.

The market makers are in control here, not Coinbase

[Jay Berg @jaybny]

"optimize for latency and co-location of clients" -- market makers competing on speed are the clients, your are the product.

at Sidepit, speculators are the clients, competing on price, not speed. We tokenize the speed advantage and price it, in open competitive auctions.

[Brian Armstrong @brian_armstrong]

We experienced an outage at Coinbase last night, which is never acceptable. The root cause was a room overheating in an AWS datacenter when multiple chillers failed. We design our services to be redundant to downtime in any one AWS Availability Zone (AZ), and most of our systems worked this way last night, but not all.

Our centralized exchange did not. Exchanges have unique architectures that optimize for latency and co-location of clients. It is possible to make exchanges resistant to AZ failures, but this can introduce latency delays that are not desirable along with breaking customer co-location. Given this incident, we'll revisit these tradeoffs to ensure we're giving you the best possible venue to trade. At a minimum, the duration of an outage should be able to be reduced considerably when an AZ move is needed.

Thank you to the AWS and Coinbase teams for working through the night to mitigate the issue. We’ll share the detailed technical summary once it's ready.

[Jay Berg @jaybny]

@pourteaux it was a pretty great conference fwiw

[Jay Berg @jaybny]

@ChShersh @kmcheung12 restrict *

[Jay Berg @jaybny]

@Arvolear Covenants

[Jay Berg @jaybny]

@Vladcostea I can't read the numbers. What was your fill?

[Jay Berg @jaybny]

@Truthcoin eCash (XEC) is Bitcoin ABC

you need a new name

is this a troll ?

[Jay Berg @jaybny]

An L1 is the wrong place to solve price discovery. You need a network designed around the utility itself, not a general-purpose chain.

[Brian 🍀 @breanie0]

Frequent batch auctions (FBA) eliminates the speed race, killing frontrunning, sandwich attacks, and latency arbs.

implementing FBA on transparent blockchains still runs into the issue of information leakage and last look advantage.

This is the first level of inefficiency that we aim to tackle on @SynchronicityHQ. looking for people to try out testnet now :)

[Jay Berg @jaybny]

@LadesSandy You guys are close, but still solving the wrong 2 of the DEX trilemma. Nice to see more teams converging on batch clearing. Sidepit has been built around the same first-principles problem, but with a different execution layer. Happy to compete on latency-agnostic best execution.

[Jay Berg @jaybny]

@bwein_ @SynchronicityHQ Not really, perpetuals by definition can't be a price discovery mechanism because they need external price feeds.

[Jay Berg @jaybny]

@bwein_ @SynchronicityHQ @ChrisWhodl

[Jay Berg @jaybny]

@bwein_ @SynchronicityHQ still using oracles for price discovery?