Level39
@level39
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#Bitcoin
Joined March 2009
Oct 10th: 14:57 UTC: Trump teases "very strange things" in China. 20:34: MSCI (w/ ties to 🇨🇳CPP) drops DAT consultation, targeting Bitcoin TCs, $MSTR 20:50: Trump blasts 100% tariffs on Chinese imports 21:00: Binance volatility spikes; flash crash begins https://t.co/k39VFYOB6U
The crypto collapse: On October 6th, just 45 days ago, Bitcoin hit a record high of $126,272, worth $2.5 trillion. Then, something "mechanical" seems to have shifted on October 10th, after President Trump threatened 100% tariffs on China. Not only did this lead to the record
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🇨🇳 Coincidences Oct 10th: 14:57 UTC: Trump teases "very strange things" in China. 20:34: MSCI (w/ ties to 🇨🇳CPP) drops DAT consultation, targeting Bitcoin TCs like $MSTR. 20:50: Trump blasts 100% tariffs on Chinese imports 21:00: Binance volatility spikes; flash crash begins
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🇨🇳 Coincidences Oct 10th: 14:57 UTC: Trump teases "very strange things" in China. 20:34: MSCI (w/ ties to 🇨🇳CPP) drops DAT consultation, targeting Bitcoin TCs like $MSTR. 20:50: Trump blasts 100% tariffs on Chinese imports 21:00: Binance volatility spikes; flash crash begins
The crypto collapse: On October 6th, just 45 days ago, Bitcoin hit a record high of $126,272, worth $2.5 trillion. Then, something "mechanical" seems to have shifted on October 10th, after President Trump threatened 100% tariffs on China. Not only did this lead to the record
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Also, in 2013, JPMorgan was found to have hired children of China’s ruling elite, according to internal documents obtained by Federal authorities.
archive.nytimes.com
Confidential documents offer the most detailed account yet of JPMorgan’s “Sons and Daughters” hiring program, which has been at the center of a federal bribery investigation.
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Fun Fact: There is a connection between MSCI and the 🇨🇳 Chinese Communist Party. A US House Select Committee concluded MSCI channeled $3.7B into red-flagged entities in 2023.
reuters.com
U.S. financial firms facilitated investments worth billions of dollars in index funds that included blacklisted Chinese companies, according to a bipartisan House Committee investigation that called...
VERY interesting: MSCI’s announcement was actually made on October 10th but JP Morgan only reported it today. And if you look at the exact timestamp, it dropped minutes before the October 10th flash crash.
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What a cool insight from @level39 and @FlashCharts: $MSTR is tracking BTC/Gold 🤯 Makes a ton of sense @dgt10011 @LynAldenContact
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23/ UPDATE: No CFR was announced. But, make no mistake, CFR will almost certainly be a reality in our lifetime and its introduction will fundamentally change Bitcoin forever.
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22/ Bitcoin will almost certainly be powered by compact fusion reactors in our lifetime. The time to begin envisioning the impacts of CFR on Bitcoin, AI and energy grids around the world starts now.
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21/ Abundant energy could also indirectly grow fees by accelerating Bitcoin adoption. A hyper-secure network (thanks to sky-high hashrate) builds trust, drawing more users and economic activity.
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20/ With CFR, even a modest post-2140 fee budget could support an astronomically high hashrate, making 51% attacks infeasible—even for well-funded adversaries like governments.
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19/ It is also plausible that CFR could play a pivotal role in addressing Bitcoin's post-2140 security budget —potentially solving it altogether. With energy nearing free, the marginal cost of adding hashrate drops dramatically. Miners could deploy vastly more hardware.
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18/ In the extreme (near-zero energy costs), security could plausibly increase dramatically because hashrate becomes so immense that attacks are practically impossible, even for nation-states.
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AI is reshaping energy demand, and we’re ready. Our Chairman & CEO Mike Wirth shares how we’re powering the future.
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17. An operation of that magnitude could potentially take years and billions of dollars, as attackers would be chasing a moving target while honest miners scale up too.
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16/ If energy costs halve, hashrate could roughly double to restore cost-revenue balance, keeping the total cost of securing the network stable. With cheap energy available to everyone, attackers would still need to acquire massive hardware and infrastructure.
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15/ With energy costs approaching zero, the break-even point for mining would drop dramatically. While this would seemingly reduce the security budget at first glance, Jevons Paradox suggests that, in reality, hashrate would massively accelerate.
3) Jevons observed that England's consumption of coal soared after James Watt introduced the Watt steam engine, which greatly improved the efficiency of the coal-fired steam engine from Thomas Newcomen's earlier design.
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14/ The advent of CFR would initially make mining far more profitable for adopting operators, but market dynamics, including Bitcoin's difficulty adjustment mechanism and Jevons Paradox, would quickly reshape mining in ways we cannot yet fully appreciate.
5) In other words, when technological progress or policy increases the efficiency with which a resource is used, the falling cost of use often induces increases in demand enough that resource use is increased, rather than reduced.
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Today we’re releasing the Baz CLI with a completely different way to review code.
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13/ If a commercial CFR became a reality it would provide essentially limitless, and extremely low-cost, clean energy and fundamentally transform Bitcoin mining by slashing operational expenses — electricity typically accounts for 70-80% of mining costs today.
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12/ Importantly, CFR would provide a compact and mobile power source, adaptable for various applications including powering cities, industrial processes, remote locations, ships, aircraft carriers, long-duration space missions and, yes, Bitcoin mining.
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11/ If Skunk Works has successfully developed a commercialized CFR, it would revolutionize energy production, providing a clean, safe, and virtually limitless source of energy without the long-lived radioactive waste associated with fission.
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10/ The heat produced is transferred through heat exchangers to drive turbines and generate electricity or propulsion power.
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