Real-time prediction of Bitcoin bubble crashes - ScienceDirect

FT.com: bitcoin bubble grows and grows (cached)

FT.com: bitcoin bubble grows and grows (cached) submitted by willphase to Bitcoin [link] [comments]

Bitcoin bubble grows and grows

submitted by IWillNotBiteYourDog to Bitcoin [link] [comments]

Hey guys stop saying bitcoin is a bubble because it's not. I mean, it's been growing strong for 8+ years and bubbles can't last that long

Hey guys stop saying bitcoin is a bubble because it's not. I mean, it's been growing strong for 8+ years and bubbles can't last that long submitted by Edfp19 to neoliberal [link] [comments]

Bitcoin is not a bubble, it grows at similar rates to Facebook and Google grew pre-IPO.

At its core bitcoin is a technology, however no Corporation owns it which is one of the ways it differs from technologies like Google and Facebook. thefacebook.com was launched in 2004 and Facebook IPO'd in 2012 at $77bn (conservative) https://en.wikipedia.org/wiki/Facebook#History https://en.wikipedia.org/wiki/Initial_public_offering_of_Facebook#Valuation
google.com launched in 1997(1998?) and Google IPO'd at $23bn https://en.wikipedia.org/wiki/History_of_Google#Financing_and_initial_public_offering.
Assuming valuation of $1 on day one, Facebook had a compounding daily rate of roughly 0.832% and Google had 0.947%. This is similar to Bitcoin's at 0.35% from 2013. I know Google and Facebook had much more users and related as at IPO but Bitcoin is doing good numbers too
submitted by rujotheone to Bitcoin [link] [comments]

$28. There - I said it. Maybe this *isn't* a parabolic bubble. Maybe bitcoin is simply growing. Maybe more people have heard about it recently, and the skeptics are finally impressed.

submitted by _bc to Bitcoin [link] [comments]

Give a man a fish and he eats for a day. But teach a man how to grow a fish using heat generated from Bitcoin mining and he eats until the Bitcoin bubble bursts

Give a man a fish and he eats for a day. But teach a man how to grow a fish using heat generated from Bitcoin mining and he eats until the Bitcoin bubble bursts submitted by farklinkbot to fark [link] [comments]

It doesnt matter what the rest of the crypto space (small bubble) thinks about Bitcoin SV. BSV is going all in on real businesses. Bitcoin just became professional. The ecosystem is growing bigger and stronger each day! /r/bitcoinsv

It doesnt matter what the rest of the crypto space (small bubble) thinks about Bitcoin SV. BSV is going all in on real businesses. Bitcoin just became professional. The ecosystem is growing bigger and stronger each day! /bitcoinsv submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin is not a bubble, it grows at similar rates to Facebook and Google grew pre-IPO. /r/Bitcoin

Bitcoin is not a bubble, it grows at similar rates to Facebook and Google grew pre-IPO. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[uncensored-r/Bitcoin] Bitcoin is not a bubble, it grows at similar rates to Facebook and Google grew pre-IPO.

The following post by rujotheone is being replicated because the post has been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7a7d5q
The original post's content was as follows:
At its core bitcoin is a technology, however no Corporation owns it which is one of the ways it differs from technologies like Google and Facebook. thefacebook.com was launched in 2004 and Facebook IPO'd in 2012 at $77bn (conservative) https://en.wikipedia.org/wiki/Facebook#History https://en.wikipedia.org/wiki/Initial_public_offering_of_Facebook#Valuation
google.com launched in 1997(1998?) and Google IPO'd at $23bn https://en.wikipedia.org/wiki/History_of_Google#Financing_and_initial_public_offering.
Assuming valuation of $1 on day one, Facebook had a compounding daily rate of roughly 0.832% and Google had 0.947%. This is similar to Bitcoin's at 0.35% from 2013. I know Google and Facebook had much more users and related as at IPO but Bitcoin is doing good numbers too
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

The QE Stock Market bubble is growing and no one seems to care cause it's all about that Bitcoin.....

The QE Stock Market bubble is growing and no one seems to care cause it's all about that Bitcoin..... submitted by Bitcoin420 to Bitcoin [link] [comments]

Does anyone else hate it that we celebrate getting rich here rather than the growing adoption, technological break through and financial freedom that is changing the world? All these getting rich memes and celebrations are what fuel the critics calling it a speculative bubble. /r/Bitcoin

Does anyone else hate it that we celebrate getting rich here rather than the growing adoption, technological break through and financial freedom that is changing the world? All these getting rich memes and celebrations are what fuel the critics calling it a speculative bubble. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

The QE Stock Market bubble is growing and no one seems to care cause it's all about that Bitcoin.....

The QE Stock Market bubble is growing and no one seems to care cause it's all about that Bitcoin..... submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Its not a bubble because of growing for some years. It grew up much because there is a bubble in fiat money and banking system. /r/Bitcoin

Its not a bubble because of growing for some years. It grew up much because there is a bubble in fiat money and banking system. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

05-09 19:52 - 'Larger World Wide acceptance of Bitcoin as a storage of value.. And also a growing use as a fiat currency replacement for purchases. (Thanks Japan) to name just a couple. Come on SegWit! What level after bubble bursts? (if and wh...' by /u/5121313 removed from /r/Bitcoin within 0-8min

'''
Larger World Wide acceptance of Bitcoin as a storage of value.. And also a growing use as a fiat currency replacement for purchases. (Thanks Japan) to name just a couple. Come on SegWit! What level after bubble bursts? (if and when it does).. Almost always shakes out higher than the sideways level that was stagnate before the bubble. Just Opinions on my part. "I know Nothing!" - Sgt Schultz (Hogans Hero's)
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: 5121313
submitted by removalbot to removalbot [link] [comments]

A Detailed Summary of Every Single Reason Why I am Bullish on Ethereum

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself on the DeFi Pulse website.

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA player Spencer Dinwiddie tokenized his own NBA contract.)

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (Jitsi for the zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to CryptoCurrency [link] [comments]

A Detailed Summary of Every Single Reason Why I am Bullish on ETH.

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself at: https://defipulse.com

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA Star Spencer Dinwiddie Tokenized His Own NBA Contract.

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (https://meet.jit.si/ for zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to ethtrader [link] [comments]

A detailed summary of every reason why I am bullish on ETH.

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself at: https://defipulse.com

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA Star Spencer Dinwiddie Tokenized His Own NBA Contract.

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (https://meet.jit.si/ for zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to ethfinance [link] [comments]

Rough days transcript: the best is yet to come, kill the old system, BUIDL time, we live in a DeFi bubble, power to the edges, voting challenge and rembeber you're in control kids!

Hi everybody, Charles Hoskinson here, live from warm sunny Colorado! Always warm, always sunny, sometimes Colorado. I got my Massey Ferguson hat on. Take that off, see, my hair's all messed up. One of these days and we'll lose all that hair.
It's a rough day today and that markets are terrible down 20 percent for most people and every now and then I talk about price. I rarely do but in general let's talk about the macro. You know crypto is a unique phenomenon. It's a unique thing and these are crazy times. I remember just a few months back when coronavirus first came out and we saw basically everything just bottom out everybody went crazy. They went to cash all asset classes. Just went to hell in a handbasket and I did a video and I said guys our best days are ahead of us as an ecosystem and as an industry and what happened everything got better over time. People started getting more optimistic. You know the reality is that we are seeing an old industry die right now, the legacy financial system.
I just read Biden's tax plan. He wants to treat capital gains as ordinary income and put another 12 and a half percent on top of that. All this stuff and at the end of the day all these new taxes amount to a trillion or so extra dollars I think per year in income... Takes six years to the make back what they printed out of thin air for coronavirus and are willing to print again which begs the question why do we even pay taxes anymore if we can just print money out of thin air? We have a whole movement of people: the AOC crowd wake up every day and they say modern monetary theory, the actual supply, doesn't matter. All that matters is how much can we print and get away with it. This is where we're at as an economy right now and globally speaking a lot of other nations agree with this. So, given that the whole world, the leadership of the world, talking about negative interest rates, they're talking about predatory financial systems hyperinflation. Just print money, modern monetary theory, just print as much cash as you want and we look to the cryptocurrency industry, and god, we got a lot of problems...
I think this (week's market) collapse is probably because one of the most prominent exchanges in South Korea got hit. They got shut down by the South Korean government and they at one time were responsible for a big part of the Kimchi premium and you know what? Korean government might shut down a few more Korean exchanges and usually the market based these things in. We got crazy yield farming weird stuff going on in the DeFi space. All these other local events and their blips they don't really matter that much just like corona in the long term won't matter too much in terms of the markets. What matters is the trend and where are we going. I had a meeting with some people this morning and we talked about revolutionizing the healthcare industry and getting things better in terms of supply chains. I had another meeting with a soon-to-be former Wyoming state representative about how we're going to get governments to adopt blockchain technology. I talk every day to governors, heads of state, congressmen, senators, mayors. Some cities, sometimes very large cities, with millions of people and they all say the same thing. We need help, we need solutions, we're damn tired of the way that the old system is running. You know what? if we don't solve it a lot of people are going to get hurt or continue to be hurt.
The common theme that we all have is no one's happy. Look at the black-lives-matter protests, taking their philosophy of the organization aside, the rank and file people are there not because they love Marxism. They're there because they're unhappy with the way society is and why shouldn't they be? When my grandfather, got his first job, on my mom's side, out of the Korean war, he was a lineman and he made enough money from that job to have seven kids and have his wife stay at home. No college degree, fresh out of high school, fresh out of marine demolitions and a lineman. Five boys and two girls and he could take care of that family and save money every month. Have a car and a house and that was his standard of living. How many people in the middle class today in the United States or Europe for that matter have the ability on a single person's salary to raise seven children and have the wife or the husband stay at home? How many people, not many, why? because our monetary system has failed us. The inflationary policy has created a situation where the Jeff Bezos can have 200 billion dollars and make windfall profits every year regardless of how bad the economy is. The everyday people they don't get a pay increase, so in a lot of cases they don't get to keep their job and their money deteriorates in value a lot more than three percent per year.
Our industry has principles in that we worship the math and the protocols and the stable monetary policy. These types of things, and as corrupt as some of the exchanges can be, and some of the bad actors are, all movements suffer from these warts, and they're finite and temporary. You run out of them. At some point self-regulation kicks in or standards kick in and these bad actors flush out and what's left behind is a crucible that contains the truth of the matter which is: we're going to win as an industry. There's just no doubt in my mind. You have bad days in the market, you have damn good days in the market, you get addicted to the good ones and you hate the bad ones but at the end of the day it's only going in one direction which is crypto is going to eat the world: every voting system, every property registration system, every monetary system, the next 25 to 50 years is going to be running on the tech we build and others build and running with the principles of power to the edges.
This is the great challenge of our time. To do it in a way that it's fair, transparent, open and doesn't allow a government to co-opt it. It's gonna be a lot of fights here. The least of our concerns and matters are a red day and every now and then I like making these videos to remind people why I'm here and why you should be here too. As toxic as the trolls could be and these other people can be, none of them really matter. Markets don't really matter, what matters are the principles and the purpose behind what we do and you have to ask yourself are you happy with the way that society is? Are you happy with the money in your pocket? Are you happy with the political leadership representing your nations? Are you happy with your future and do you honestly believe if we keep doing the things that we did and continue to do that the future is going to be better or do you think it's going to be worse or stagnant?
I think too many people have woken up and they realize that if we continue doing the things that we do the future is going to be a bad place and they don't want that to happen. We're voting with our wallets, we're voting with our feet and we as a collective industry are waking up and figuring out how to build something better and there's some good days and bad days along the way. Today's a bad one but there are going to be good days tomorrow just like I told you back when corona made everything go into free fall and I told you before and I warned you about with ICO mania.
We're in a DeFi bubble right now, there's no doubt in my mind about that. I saw it in 2017 with ICO mania. I see it here and there's probably going to be worse days ahead in that respect but the trend is always the same and never forget that and never forget that real people are actually adopting these systems and using them. Every day we see more and more and every day that movement grows and what's so humbling is that I know a lot of you are here with me. It used to be pretty lonely space to be in a few years back. You know, the conferences, they didn't have many people. My first bitcoin meetup group in 2011 in Colorado is at the gypsy house cafe I think, in Denver. I registered for the event I showed up. Two people registered myself and another guy and the other guy didn't show up so I had coffee with myself. Compare that with the Shelley summit that we had in July of 2020. 10 000 attendees, 10 000 from all across the world, compare that to where we are at today just nine years later pretty amazing if you think about how fast things have grown and how many fertile beautiful ideas exist in this industry and what this industry is doing for the world as a whole.
That is why we're going to win because at the end of day who can argue against freedom? Who can argue against liberty? Who can argue against putting people in control? The only way you can is when you believe people are stupid, people are evil, people are incapable and I suppose that's a philosophical difference between those who currently lead and the people who want to replace them. The people in charge right now of the world, the big banks, the fortune 500 companies, the media, Hollywood... These things, they're very cynical, people who believe in the worst in us they look at everyday people who sustain and disgust and say these people if left to their own devices will be chaos. These people, if left to govern themselves will burn everything to the ground and destroy everything and every single time I have ever seen a bad event happen what the news doesn't show you and what those people don't talk about is how we come together and help each other out. Someone gets injured in the streets more often than not people show up and help them, people need a helping hand. Someone always shows up more often than not and this is no different. I don't believe the political process is effective anymore in any modern democracy. They've all been co-opted, perhaps they always were but what I do believe is that we can come together and change things economically which is what we're doing.
It's messy building our own money, it is messy building our own industry, it is messy. We make a lot of mistakes along the way. We lose a lot along the way, we collect some scars too while we're at it but progress every year keeps being made. The technology every year keeps getting better. Today, right here right now, provably secure proof of stake protocols are in circulation. They were a fantasy five years ago now they're a fact of life today. Right here right now snarks have evolved by an order of magnitude in every category from validation time to efficiency to proof size in all favorable ways which opens up all kinds of new applications and scalability and privacy. Today, right here right now, layer 2 protocols are more advanced than they have ever been in our industry's history giving us the ability to build payment systems that scale to billions of people. Today, right here right now, we are seeing massive innovations in governance and a fertile environment for things like approval voting, threshold voting, preference voting, quadratic voting, that will enable us to build all kinds of new treasuries and governance systems that eventually will scale to nation states.
As the politicians of today argue whether the post office can properly count paper ballots that people mail we are building voting systems with state-of-the-art cryptography living on phones where you can vote. It's just a tap of a button and enjoy more security than we have ever imagined before. That is the future this movement, is enabling humanity money flowing at the speed of thought and the speed of thought making new money. How can you compete with that? You can't unless you bring people down with cynicism and disdain and ultimately what competing vision do they offer? That you all should be in chains? That we should just be wage slaves? We should just accept that every year our money deteriorates in value? That we should just accept that the rich will get richer the poor get poorer? Every now and then they throw us table scraps and when we get real angry they usurp the movements and then install their own leadership to basically take those movements from us as we've seen so many times before and we will see again. I'm sorry that's not a road I want to walk down and I'm willing to ride rocky waters, crazy markets, crazy people in unlimited FUD and trolling but I will never apologize for believing in the best in people and I will never apologize for believing that if only we give everyone around us the tools to save themselves and society that they can do it.
They don't need great leaders and charisma. No one needs someone to tell them what to do. We all know what to do. We all know how to make the world a better place. We just have to be trusted enough to do it ourselves. You know what for the first time ever we did with bitcoin and then we did it again with ethereum and now we're doing it again with Cardano and we as a movement will continue to do it.
I believe our best days are ahead of us and every day I wake up and there's more people marching with me in that respect and one day it'll be millions and one day it'll be billions and one day all those cynics will be gone, replaced with optimists, who once again believe that tomorrow is going to be better than today and that we're going to leave the world just a little bit better than the way we found it. So, every now and then on a tough day I like making a little message and letting you guys all know it's going to be better and you know what? it will be. Just have to have faith that it will be. So, hold the line, hold strong and have faith in each other and go do something, build something, start something.
Got a lot of podcasts on the way, a lot of things coming down the pipe. For the dc-fund, a lot of opportunities to actually innovate. Multi assets are coming, soon Plutus is coming, soon guys are going to be able to build a lot. Start thinking today what's the business plan? What would you like to change, small or large. You don't complain about voting. Change voting. Your own organization, maybe you belong to a club, do a blockchain-based voting system. Maybe you have some political influence? Have a primary, democrat or republican, or your local primary or country for selecting candidates done with blockchain-based voting. Maybe you want to build a new financial product? Think about it, figure it out. There's so much there, it's all there, it's ready to go, it's for you to take and build and innovate with.
Every day I wake up I try to make the platforms better. I try to push the technology a little further along. I try to hire great people and bring them into our industry. Cardano brought the Haskell industry into the cryptocurrency space. Cardano brought a lot of academics who had never thought about cryptocurrencies into the cryptocurrency space and we made our problems their problems and as a consequence they started solving them in ways we could have never done before. Most importantly Cardano brought a lot of you into the cryptocurrency space and you never thought you'd have this level of control and freedom over the fabric of society in the direction of the human race. Don't let that slip through your fingers. Figure out what you want to do with that super power. Might be small, might be big. I dreamed big, you can dream big too, even if you want to just dream small. Every person counts, every action counts up to the hill. Y'all matter to me and to each other and we're all in this together, never forget that! So, hard day, rough day, tomorrow will be a better one. The day after will even be better. See you guys soon, take care...
Source: https://www.youtube.com/watch?v=qM192wAV4LA
On Kimchi premium: https://www.investopedia.com/terms/k/kimchi-premium.asp
EDIT: title typo -> rembeber -> remember :)
submitted by stake_pool to cardano [link] [comments]

Forbes: Has Bitcoin finally met its match?

Bitcoin has reigned as the undisputed king of cryptocurrencies since it was created a little over ten years ago. The bitcoin price has soared, with some ups and downs, over the last decade—climbing to around $11,300 per bitcoin today and giving bitcoin a total value of over $200 billion.
Now, as the market for stable coins—cryptocurrencies pegged to traditional currencies or assets—has doubled in the last three months, a new report has predicted the largest stable coin, the controversial tether, could become the second most valuable cryptocurrency after bitcoin as soon as next year—with “the still deflating broad crypto-asset bubble … migrating assets toward tether.”
“Tether represents what many of the so-called cryptocurrencies aren’t: a stable form of payment,” Bloomberg senior commodity strategist Mike McGlone wrote in the company’s Crypto Outlook report for the fourth quarter of 2020.
Over recent years, bitcoin’s primary use case has evolved from a payments system to a store of value and more recently as a hedge against the inflation some see in on the horizon. McGlone expects recent unprecedented central bank stimulus spending and rising debt-to-GDP levels around the world to act as a strong tailwind for the bitcoin price, putting it on course to reach a whopping $100,000 per bitcoin by 2025. “Indicating demand for a digital version of gold (bitcoin) and a crypto-asset like the dollar, if current trends prevail, the market cap of tether may surpass ethereum next year,” McGlone wrote, adding it “should take something significant to stall the increasing adoption of tether” which has been growing “rapidly” in contrast to “the stagnant market cap of ethereum.” Ethereum currently boasts a market capitalization of a little over $40 billion, compared to tether’s relatively paltry near-$16 billion. However, tether’s total value has ballooned 300% over the last 12 months, while ethereum’s has merely doubled. Bitcoin’s market value has risen at an even slower pace than ethereum, adding just under 40% since this time last year.
Meanwhile, tether’s cumulative transaction volume has increased by around 20% over the past 30 days to climb above $600 billion, according to blockchain analytics firm Glassnode. Tether’s daily transaction volume is around $35 billion according to an average from cryptocurrency data sites CoinGecko and CoinMarketCap, with bitcoin’s average daily transaction volume put at between $20 billion and $25 billion.
Makes me fell dirty that a media outlet talks about Tether like this.
submitted by Sawyer86uk to CryptoCurrency [link] [comments]

Chart comparing bitcoin price vs tether printing vs retail interest

Greetings community!
I know there has been plenty of charts comparing tether and price of bitcoin.
I thought that with the last ~4 months of tether treasury ridiculous amounts of printing, i would update chart and also added retail interest through start of 2017 until today. It is rather clear, that after 2017 bubble, there (luckily) is not much retail interest being scammed into this ponzi and hopefully never will. Without retail however, pyramid wont grow and will collapse soon enough.
I thought that perhaps community also finds this chart interesting.
Also my hope is that those still holding and perhaps happen to read this post, would use this opportunity to get their funds out of this asset class. As we know, it is a zero-sum game, so in simple terms, i would rather see 10 000 000 retail participants get each their $1000 out, than see Bitfinex scamming schmucks through offshore accounts or what-not, get away with $10B.
If this post helps atleast one person, it is well worth it.
Here is the chart: https://imgur.com/zxFmFUs
submitted by Ordinary_investor to Buttcoin [link] [comments]

My college essay on Bitcoin and computers. First Draft. Thought you all might like this.

I always thought computers were simple. At their fundamental level, they are just 1s and 0s. An invisible dance of yes’s and no’s running through a sheet of silicon at billions of times per second. Computers are amazing and unique machines that will forever be apart of our lives. Our sheer dependence on computers motivated me to research the topic? As my understanding of this concept grew, so did my curiosity. I started researching computers as much as I could. I would spend hours a day browsing Youtube and reading articles just to satisfy my interest. That’s why when my dad first brought up the topic of bitcoin during my freshman year, I wasn’t surprised to hear his enthusiasm. I had learned much about this currency over my couple years of research, but I knew very little about how to actually make money off it. He had been tracking the price for a few months and was considering buying a few, just to see what would happen. Little did either of us know; the price of this virtual coin would multiply nearly 30 times in just a few short months.
A few weeks passed and eventually he brought up the topic of buying bitcoin again. His initial interest inspired me to look more into currency and how it worked. I told my dad there was another way to make money off of bitcoins: Bitcoin miners. These impressive and powerful computers are precisely optimized to earn these coins, and I knew I could make one. I explained how this was my once in a lifetime opportunity, like how he explained to me that he missed out on investing in Apple in the 80s. “It could be a money-printing machine,” I joked. With our excitement peaked, we decided to split the $2,000 investment 50/50, and I started the buying process.
I started the process by buying the parts of the machine. I had learned that like Legos, a computer consists of simple components to make the whole. However, unlike an ordinary everyday computer, ours would have a concentrated task. Mining bitcoin is not a complicated process for a computer to do. In essence, by completing simple math problems as quickly as possible, a computer process’ bitcoin transactions from around the world and is rewarded in a tiny fraction of a coin. As more and more transactions take place, the higher the demand for processing, and the higher the reward.
I was lucky enough to know how to build the computer. However, what I was not prepared for was the constant troubleshooting and maintenance I would have to give to this project. Sometimes the computer would simply turn off randomly, sometimes a part was not detected, and other times it merely just ran at half its optimized rate. I learned how to fix issues where there was no logical reason for the problem. Like a calculator, I always thought a computer could never mess up. My hundreds of hours of troubleshooting and blind hope quickly changed my view. I put a vast amount of free time into the project, knowing that potential it had. After lots of hard work, long nights, and determination, I had finally completed my dream project.
I was proud of what I had created. The computer was placed in my room and was like a pet. The loud but rhythmic fans helped me fall asleep, and the heat kept me warm during the winter. From school, I would monitor the machine, and if it had run into an error, I would simply restart it from my phone. My plan was working, and in a little over half a year, our investment should turn into profit. In only a few months, we were already halfway to making our money back. We were lucky because the price of bitcoin itself had doubled since we started, going from nearly $10,000 to $20,000 in a few short months, but as I looked at my account, I had no bitcoin. A few days earlier, hackers had stolen $64 million dollars from the company I mined with.
I felt like a victim. I had done everything right. I built the computer perfectly, I managed everything, I put the time in, and I put the effort in. I was robbed, and I was discouraged. Forced with no other option, we restarted our operation. Bitcoin was still increasing in price, we thought, so there was no reason to stop now. Our operation had restarted and was going well, but for the first time since we started, the price of bitcoin was not doing so well. The bubble was about to burst. It began with my hack, which made national news and hurt the price. Although the price recovered in a few weeks, it was going down again, fast. Believing it would improve, my dad and I decided to hold and not sell. A month later, Bitcoin was back to $8,000 per coin. The fad was over, and we couldn’t even make a profit over our cost of electricity. Again, I was robbed. I did nothing wrong and still lost almost everything. I decided to put the computer in a box and wait a few months; however, the wait was worthless. The coin plateaued at about $10,000, and it simply was not sustainable to continue mining. A year later, we sold the computers for parts and managed to make back about half our initial investment. It was over.
I had lost over $1,000 and months of time and effort. However, as I moved on and started to reflect on the experience, I was the winner. I learned so much about computers and how they operate. In the end, I had learned many skills, from patience and compassion to planning and researching. I had learned not only to build a computer but to manage systems and multitask. I learned countless lessons and gained essential and unique skills that I hope will carry me throughout life. This unique experience has taught me to always keep trying at what I believe in. There’s always an award for doing whatever I think is right. I hope to bring these beliefs and lessons with me throughout life, as I learn and grow from what I was taught. Whenever people ask me what computers are, I always laugh and explain how a computer is just a bunch of simple lego bricks working together to do complicated tasks. However, inside I still have trouble answering this simple question. It is merely just parts working together, but a computer is so much more complicated and beautiful than that. Honestly, I still don’t understand them.
submitted by NetgearX6S4000 to Bitcoin [link] [comments]

Attention incoming interns! Here's a list of TIPS I WISH I KNEW starting my intern year, some things you can start working on now and some less commonly discussed but very important parts of your job

It’s that time of year and yet again I’ve seen plenty of incoming interns asking what they can do to prepare. I wrote this post to share some tips for all of the not-exactly-medical stuff I wish I knew before I started intern year and to share a few things that interns can do before they start to feel like they’re well prepared for the long white coat.
As a quick background, I was a surgery intern in the first half of the 2010s and much of this is informed by my notes and memories from that time in addition to everything I’ve learned since, particularly about professionalism both in medicine and in the business world with work I’ve done in the healthcare startup arena. I’m also not perfect and very much a work in progress myself and, outside the intern-specific items here, I try to do most of these things myself—sometimes more successfully than others.
So take what you think are good ideas here, leave what you don’t think would be useful, and if anyone else has anything to add, please feel free to chime in.
TL;DR: Intern year is hard. Here are some not-so-commonly-disucussed tips that may help.

Mindset

1. Being an effective intern is, at its core, about being responsible, effective and reliable.

Your day to day responsibilities are nearly always dominated by the need to get things done and to do so in a manner that lets your other team members focus on their own roles and responsibilities. What about learning clinical medicine? You'll learn plenty and fast. Don't worry.
When reading through these tips below, view them from an angle of “would this help me develop an effective system for making sure everything gets done and nothing falls through the cracks?”

2. For your in-the-hospital life as well as your outside-the-hospital life, remember this one thing: you will forget.

You will be busy and have responsibilities in a way you likely have never experienced before. This will naturally make the day-to-day things in life more difficult than you’re used to so developing ways to outsmart your forgetful brain will pay off.

3. You are a professional now. This is your career. You’re in it.

It’s easy to view your life as a trainee as a sort of advanced student or something in between a student and a “real doctor”. But that’s not true. View yourself as a professional building your career. Your intern year is just the first step of that career. You’re a real doctor as much as any other now.

4. One of the hardest things about being an intern or resident is dealing with feelings of isolation. It will take work to actively manage and overcome those feelings.

Imposter syndrome, feeling like you don’t know what you’re doing or that you don’t belong, feeling like you’re not the person you used to be, that you don’t have time to do all the “normal” things that other people do, thinking your co-residents or attendings think you’re dumb, feeling that you don’t have time for friends/family/hobbies, ruminating on “what if I screw this up and hurt a patient?”, or “this doesn’t matter -- the patient is going to XX or YY anyway” etc are all common feelings and they all share the same undercurrent of feeling isolated in one way or another. You need to actively work to find ways to confront and overcome these feelings or else they will control you. When they control you, you’re burned out.
It may not seem like it at first, but nearly every single tip below is geared towards avoiding feelings of isolation. Feeling like you’re not in control of your finances will make you feel isolated. Feeling like you’re losing a handle on your relationships will make you feel isolated. Feeling like you’re behind on your email and haven’t done all the little things in life you need to do will make you feel isolated. Read these tips through that lens.

What you can do before you start

1. Organize and update your contacts. Seriously.

Here are some ways it can help you maintain and grow your relationships.
  • Use the ‘Notes’ feature in your contacts for everyone important in your life and all the new people meet.
    • You will forget your friends’ kids names and ages. Every time you get a birth announcement or see a post on social media, go to your friend’s contact, edit the notes and put in the info. Then, when you reach out to your friends, ask about their kids...by name.
    • You will forget your friends’ boyfriend/girlfriend/wife/husband/partner’s name, especially if you’ve never met them or haven’t seen them for a long time. Put their name in your friends’ card with a note like “Started seeing Sam in June 2020, he/she’s a software engineer”. Someone you know gets married? Add their wedding date to their card.
    • You will forget how you knew people in your contacts. Met at a conference? Was a medical student on your heme onc service? Friend-of-a-friend you met at a wedding? Someone shares an interest you have? Make a note in their contact card. Tip: these notes are for you, not them. So if someone reminds you of an actor, or didn’t stop talking about bitcoin, make a note. It will help because you will forget.
  • Tag your contacts or add them to lists and use those tags/lists to your advantage.
    • Make lists or tags for your family, your medical school friends, your undergrad friends, your coresidents, your attendings, your medical students, the hospitals you’ll be working at, etc. Put those lists or tags to use like this:
      • You will forget to stay in touch with people important to you. Set reminders in your phone for every week / two weeks / month, etc to pull up a list (family, medical school friends, etc), pick someone on that list you haven’t chatted with in a while and text them and ask them how they’re doing. Aim to start a conversation, ask about what’s happening in their life. Texts are more personal and meaningful than liking a post on social media or sharing a meme. Initiating conversations with your friends and family will help you feel connected and will increase the likelihood they reach out to you.
      • Don’t label your medical students like “MS3 Laura” or “Sub-I Juan”, etc. Label them with their full name and treat them like the colleagues they are. Put them on a list, clear it out next year if you want, but don’t treat them as “MS3 XXX“ or “MS4 YYY”. I’m sure you remember feeling like a nameless/faceless medical student at times in school and I’m sure you didn’t love it. So don’t repeat that behavior. Add a note or two about them while you’re at it. Take enough interest in your medical students to treat them well. You never know when or how you’ll cross paths with them again.
      • If you rotate through different hospitals, you will forget which “ED” or “PACU” or “nursing station 3rd floor” numbers are which. Tag them or put them on a list. It’ll make finding them when you need them much easier.

2. Use a good note taking app and a good task manager app to help with both your in-hospital life and your outside-of-the-hospital life.

Here are some ways to use a notes app.
  • Make a note for each rotation you’re on. Add in any unstructured tips as they come up, like “Send all of Dr. X’s patients home with Y”, “Use the call room in the basement outside of the locker room, passcode 1234”, “Park in the X lot on the weekends”, “Dr. A likes to manage Z with Y”, “The case manager, NAME, usually sits at the computer behind the 2nd floor nurses station”, etc. Don't overthink them, just write them down when they come up. Review those notes the next time you rotate through because you will forget all those little things and they will help you in the future.
  • Create a master grocery list of all things you typically get at the grocery store. Share it with a roommate/partner so they can keep it updated too. That way if you ever stop to pick something up, you can review the list to make sure there’s nothing you’ll forget.
    • Make master lists for other things in your life too like “packing for a conference”, “packing for a family trip”, “Target/Wal-Mart household master list” so you can quickly review anytime something comes up so you minimize the chance of forgetting something
  • Make notes for all of the other stuff you have to manage in your life like your car, your apartment/house, your loans, etc and update them every time you work on that thing. Change your loan repayment? Add it to the note. Have to get your brakes fixed? Add to the note where you got it done, how much it cost, etc. Talk to your landlord about fixing the shower? Add it to the note. Have to call the medical board to sort something out with a license? Add it to the note.
  • I like two note apps on iOS: Bear for personal notes since it’s fast and has great tagging and Apple’s Notes app for shared notes
Pick a good task manager app and use it for all the things in your life that aren’t your day-to-day work
  • Cousin getting married and you can go to the wedding? Make tasks to ensure your time off, book your travel, buy a gift, rent a hotel room, etc. Then put all the relevant info into your note because...you will forget.
  • Pandemic is over and you get to present a poster at a conference? Make tasks to review your draft with your coauthors, print your poster, book your travel, submit your reimbursement, etc. Then put all the relevant info into a note. Otherwise, you’ll forget.
  • I like Things and have also liked OmniFocus. There is a ton of content on how to set one of these things up for productivity so review it and use it YouTube search

3. Take charge of your finances

When I was an intern, I figured all I had to do was pay my loans and not go into more debt. I wish I had done the following instead:
  1. Read these two books: The White Coat Investor and I Will Teach You To Be Rich. Both are very good and have different strengths. The WCI is directly applicable to you and will help educate you in ways medical school didn’t about your financial future. IWTYTBR is much more of a “millennial” book but it’s very good for explaining big concepts and for providing a system to set yourself up for success. They’re both easy and relatively quick reads and don’t require any financial background. WCI is fine as an e-book but IWTY has a bunch of dialog boxes that make the e-book a poor experience, get a physical new or used copy.
  2. Set up a budget. I use and swear by You Need A Budget. It’s the best money I spend every year. Their system is easy and straightforward and it doesn’t take long to get the hang of it. I can’t recommend it highly enough.

4. Update your CV now and keep it updated regularly

You will no doubt have to share your CV with someone at some point whether it’s for fellowship or a research project or any number of things. The time to work on it is not when someone says “can you share your CV?” -- that’s a recipe for omissions, typos and mistakes. The only thing you should be doing every time you share your CV is giving it a quick once-over to make sure you don’t spot any mistakes and to make sure it’s up to date
There are plenty of templates online and your training institution may even have a preferred format somewhere on their website. Your ERAS application will give you a good head start but most of your medical school CV lines will either be condensed or removed all together unless something was particularly notable. You can almost always find example CVs online from senior people in your department or institution with a quick web search -- use a few as a guide
Set a reminder / task to update your CV at regular intervals. Quarterly is good, yearly at least. Save new versions of it each time so you can refer to the old ones if you need to and name them in a way to let you know you’re always sharing the most recent version, e.g., LASTNAME_FIRST NAME_CV_2020-06. You will forget if the one marked “CV” only is the right one you want to share.

5. Subscribe to a couple of newsletters to stay up to date with the world outside of your hospital

  • For general news, your preferred newspaper probably has a daily email briefing. Otherwise, Axios AM/PM and Politico’s Playbook are both very good quick reads to stay up to date with current events.
    • Keep up with healthcare news so you know what’s going on in the healthcare system broadly
      • Axios Vitals is a great, quick daily healthcare news update
      • Politico’s Pulse and Morning eHealth are both very good and have quick facts at the beginning if you just want to skim
      • Rock Health’s Rock Weekly is a decent summary of each week in the healthcare startup and technology world
Pick a few of these and aim to get through them each day. If you can’t get through them, unsubscribe to the ones you think are least relevant to you so you never feel “behind” in staying up with the news. You can breeze through the few you pick in a few minutes here and there throughout the day -- don’t make it any harder than that to feel like you’re “up to date” on the news.

General tips for maintaining relationships

  • For any romantic relationship, do these things if you don’t already:
 1. Make a rule: no phones at the table. * Don’t put your phone on the table face-up. Don’t put your phone on the table face-down. Keep your phone off the table and set to silent. * Focus on the person in front of you and show them you care about them by paying attention to them. We all know what it feels like to be with someone more interested in their screen than in interacting with you. If you’re on call, say “sorry, I’m on call, I may have to check something here and there”, apologize if you do check it and then put your phone away. 2. Make another rule: no phones in bed * Same principle as at the table. Want to feel like two strangers just passing through life who just so happen to share the same bed? Wake up, reach for your phone and scroll through your feeds like a zombie before getting out of bed. Same idea before bed. Your phone can wait. 3. If you’re at the point where you share finances, set a regular meeting to review how you’re doing. * Ideally, this is a “red, yellow or green” meeting and should only take a few minutes. Money can be a big conflict issue for relationships and avoiding talking about money is a surefire way to eventually turn to conflict. If you have a budget and shared goals, this should be quick. * A monthly check-in is good. Create a recurring calendar event, attach the shared notes or spreadsheet document you use, add your goals for the meeting and honor the meeting when it comes around. 
  • Eat with people who are important to you, if you can.
    • There’s something about sharing a meal that’s special in human nature. Friends who are important to you? Partners? Mentors you’re looking to get to know better after you’ve had a few chats? Try to eat with them when you can. And keep your phone off the table.
    • The same idea works with your coresidents and teams in the hospital. Eat with them if you can. Eating with others builds, strengthens and maintains relationships. Keep your phone off the table if you can.
Think about it this way: who would you consider a better mentor, the person you’ve met with a few times in their office where they sit behind their desk and you in front of them while they glance at their computer screen every time it pings or the person who’s invited you to get coffee or food and they kept their phone away the whole time? Now turn that around and realize the power of the message you can send to people you care about by trying to eat with them and show them they have your full attention.

Hospital tips

1. Learn to think about tasks as a continuum from start to finish instead of as a binary 'done/not done'.

Let’s say you have to order a CT for a patient of yours.
  • Instead of marking the task as complete the second you place the order for the CT, recognize that the whole task is not just placing the order, but also knowing when your patient is going down to the scanner, when they’re back, when the CT is up in the system, when the report is up and also that you’ve looked at the CT yourself and have read the report.
  • When your senior or attending asks you, “Did patient X get their CT?”, a not-so-great answer is “Yes” or “No”. A better answer is “they’re down at the scanner now” or “the scan’s done but it hasn’t been read yet. Want to look at it?” or “Yes, it’s negative for XXX but did show YYY”.
Whatever system you eventually adopt for your day-to-day task management in the hospital, whether it’s a list or index cards or a printed signout sheet, make sure you’re tracking both when orders go in, when they’re complete, when they’re cancelled, etc. Just marking things as complete once you place the order isn’t enough.

2. Signout is taken, not given.

What I mean by this is that when you take signout, that means you’re accepting responsibility for those patients. They might be your patients, you might be cross-covering, it doesn’t matter. What matters is that when those patients are your responsibility, it’s your responsibility to get what you need to know to take care of them.
Is someone signing out to you in a hurry and not giving you what you need? Ask them for that relevant past medical history, those exam findings, and so on. It’s not enough for the person handing off to say “we’re worried about x or y”, you’ve got to follow that up with “in case of x or y, is there a plan for what the team wants me to do?”. Get the answers you need.
A lot of covering patients on call is playing defense whereas the primary team generally plays offense. But that doesn’t mean you can play defense in isolation. The last thing you want is for the primary team to feel surprised by your choices.
 * Here’s two ways for the above example to go when turning the patients you were covering back over the next day or whatever: 1. You: “For patient so-and-so, you said you were worried about x or y. Y happened.” Them: “What did you do?”. You: “Z”. Them: “Shit, my attending’s not gonna like that”. 2. You “Y happened so I did A like you said, it went fine and here’s the current status”. Them: “Great, thanks” * See the difference? 
  • Along the lines of taking responsibility for those patients, that means that if you couldn’t get the information you needed at signout then you have to go and see those patients and get the information you need yourself.
    • You’ll hear this idea said a bunch of different ways like “trust but verify”, “trust no one” and your comfort level will change over the year as you become more confident and comfortable. But always error on the side of going to see the patient and getting your own information at the start.

3. If you will be miserable without something when you’re in the hospital, bring it with you. You won’t reliably be able to find it at the hospital every time you need it.

  • Need coffee otherwise you turn into a demon? Bring it with you. You never know when you’ll get caught doing something and won’t be able to run to the cafeteria for your fix.
  • On call overnight and know you need food so you don’t go insane? Bring it with you. Here’s a hospital food rule: never rely on the hospital's ability to feed you. The hospital will let you down sooner or later, I guarantee it.
  • Know you always get cold on call? The day you forget your jacket/sweatshirt is the day you won’t be able to find a spare blanket in the hospital to save your life. Put a backup in your locker (if your hospital respects you enough to give you one).

Miscellaneous productivity, professionalism and lifestyle tips

1. Aim to “touch” everything only once

  • Example: your physical mail. You know, the stuff made of dead trees that accumulates in that box you check every once in a while. For every piece of mail you get, you should either trash it, file it, or act on it. Don’t touch it until you’re ready to do one of those things.
  • Example: your email. Either delete it, archive it, reply to it or do the thing it’s telling you to do right away. Don’t fall into the trap of using your inbox as a to-do list -- that’s a recipe to get burned. Use a task manager for your to-do list and aim to keep your inbox at zero. Realize that email’s true power is communication and use it as a communication tool and nothing else.
  • I’ll use the example of going to a wedding again as something to “touch once”. Aim to accomplish all the tasks at once or at least create tasks and reminders to complete those tasks all in one go. Respond to the RSVP, create the calendar invite with all the information from the invitation, share the calendar event with your date, book your travel, book your hotel, book your rental car, buy your gift from the registry and set a reminder to get your suit/dress cleaned a few weeks ahead, etc.

2. Lean to use your calendar as a tool

Professionals in the “real world” tend to live and die by their calendars. Some people, especially many senior people in medicine, don’t manage their own calendars. But you manage yours. With it you can:
  • Make sure all events—even small ones like dates or errands you want to run—have locations so all you have to do is click the location for directions
  • Send invites to friends / family / coworkers for anything you talk about doing that has the relevant info
  • Make reminders for yourself to prepare for upcoming events, i.e.., don’t count on seeing your parents’/spouses’/whomever’s birthday “coming up” to remind you to get a gift or send a card. Create an event two weeks before their birthday that says “Buy Mom a birthday card”, set it to repeat yearly and buy a card when it comes up, send it a few days later and don’t worry that it won’t get there in time.

3. Learn to use email well

Ever get an email from someone and feel their tone was terse, condescending or rude? Don’t be that person. Error on the side being polite and professional and writing in complete sentences without textspeak. It’s not hard — you type fast, even with your thumbs, I’m sure of it.
  • Learn to communicate effectively. Keep it short but not terse. State why you’re writing to someone, be clear if you’re asking a question, and think about it this way: “How am I making it as easy as possible for this person to understand why I’m emailing them and do what I’m asking them to do?
  • Don’t use a canned salutation like “Best, NAME” or even worse: “Best, INITIALS”. Use your salutation to continue to communicate your message and remember that politeness and professionalism extend through your signature.
    • I don’t know why “Best,” is so common in medicine but it’s meaningless, unthoughtful, inherently passive aggressive and I seriously read it as if the person writing it were signing off by saying “Go f*ck yourself,”. Same thing for “Regards,” and its ilk, any abbreviation like “vr,” or any form of cutesy quote.
    • Write your salutation fresh each time. Did you ask someone for something? Say “Thank you for your help”. Are you writing someone senior to you and want to sound somewhat formal? “Sincerely,” never goes out of style. Are you sharing information and essentially writing a memo? Use “Please let me know if you have any questions”. Your salutation is communication, treat it that way.
    • Sign with your name, not your initials. Signing with initials is a common way senior people will try to remind you they’re senior to you. If you do it, it’s like you’re trying to prove you’re a Cool Guy Big Shot too. It never comes across well -- even for those senior people. Initials are terse. Lowercase initials are even terser. Although they may look different at first glance, all initial signatures functionally come across as ‘FU’. Write your name.
      • If it’s a few rounds back and forth of email, it’s normal drop salutations and signatures and treat email more like texting. Keep using complete sentences without textspeak, though. I promise you’ll come across better that way.
    • Use the ‘signature’ feature of your email client to share your professional details and contact information
      • Your institution (not department) will hopefully have a format for this that’s standardized and includes minimal or no graphics. If it doesn't, then I feel sorry for all the inevitable IT headaches you will eventually endure at your institution since they clearly underfund and undervalue contemporary IT and professional services. It’s the wild west out there so find some good examples of clean, professional signature formats and make one for yourself.
      • Note: this signature lives below your salutation and sign off. It’s essentially the letterhead for your email that lets your recipient fill in the details you may not otherwise provide like your department, mailing address or fax number. It’s not a replacement for signing off of your communication professionally.
    • Never use bold, italics, underlines or different font sizes in your emails. They only make emails harder to read and jumble your message.
  • If you want to highlight something, put it in a numbered or bulleted list.
    • If you can’t communicate what you want with 2-3 bulleted points, then email is not the right medium to use. Do you like reading long emails? Of course you don’t. Write a memo, attach it as a PDF or shared doc and use the email to tell your recipients to review the attachment.
  • You will eventually, in some way or another, ask someone to introduce you to one of their contacts and or refer you for something. Learn how to write a good forwardable email that utilizes the double opt-in concept and how to make it easy on the person doing you the favor. Read more here, here and here.
    • While you’re at it, understand the power of using CC and BCC to communicate effectively.
  • Aim to answer all emails written directly to you within 24 hours.
    • If you can’t respond fully right away, respond briefly saying you got the note and that you’ll work on it and get back to them. Set a reminder or create a task to do or review the thing and get back to them once you’ve done it.
    • Do you hate being left on read in text? You do it in email every time you don’t respond to someone in a timely fashion. It’s better to share a quick, “I got it and I’m working on it message” then not replying until days or weeks later.

4. Don’t let someone else’s negative energy and/or anxiety transfer to you

You will frequently experience things like this in the hospital:
  • A co-resident disagrees with a management decision made at rounds and mentions that so-and-so is an idiot. So-and-so probably isn’t an idiot. Your co-resident probably isn’t an idiot either. Form your own opinions from your own experiences.
  • A nurse pages you with a tone that says “THIS IS REALLY BAD”. It might be, go and see. And on your way, stay calm and go over the steps in your head of what you’d do if it is, in fact, REALLY BAD. But don’t freak yourself out before you even get to the room. You won’t be able to make decisions with a clear head if you’re already worked up.
  • You’re a surgery intern and all your patients are normally on the med-surg floor. Every once in a while, one goes somewhere like heme-onc if the med-surg floor is full. Someone on your team says something like “great, now they’re going to screw up our patient”. Recognize that that floor isn’t full of terrible nurses and may just have less experiences with lines and drains and that the best thing you can do is go down there, talk to the nurse and say “here’s what we want to be called about” and “this thing may look bad but it usually isn’t and we don’t need to be called, here’s why”, and so on. Doing things like this will mean you get fewer calls. Fewer calls are good.
  • Your attending is having a bad day and you’re not enjoying your interactions with them. Don’t let that make you have a bad day too. Medicine is hard enough as it is, stick to your own bad days instead adopting other people’s. Then pull up your friend list, text a buddy and feel better.

5. Don’t neglect your physical health. Trying to eat well and stay active are even more important when you’re insanely busy.

The #1 thing you can do to help your waistline is cook your own food and pack your own meals. It doesn’t matter what you cook or how good of a cook you are, as long as you’re aiming to pack meals that an adult would eat, it will be healthier than takeout and cafeteria food. It’s better for portion control, you control all the ingredients and you get a sense of satisfaction for being on the ball. It’s better in every way.
I know it’s not realistic to always prep and pack your own food on the busiest of services but you should try to hit at least a percentage like 25% or 50% of your meals. There are no lost causes in your own health.
It will be hard to exercise and work out. You should still try to do it anyway. You will go long stretches without exercising at times. Don’t beat yourself up about it. Every day is a chance to do the thing you want to do so get back out there.

6. If your social profiles are private, consider doing some housekeeping and making them public.

Instead of thinking about them as a liability to be that needs to be hidden, think about them as a narrative you can control.
Nothing is private on the internet. Even your private profile. You never know who knows someone you know or what may get screenshotted and shared down the line.
It’s natural to run a web search on anyone you’re meeting for a date, interviewing with for a job, or researching in general. When you search your own name, what comes up? What do you think when you’re searching for someone and they have a private page? Do you ever click on a few links to see professional stuff from LinkedIn, and then some social pages to see what else you learn? So does everyone else.
Use your social pages to put forward a version of you that shows who you are, shows some interests true to yourself, makes you seem like a totally normal and reliable person (which is exactly what any potential date, partner, fellowship director or hiring manager is asking themselves about you) and doesn’t share enough information to let a patient show up at your door.
Medicine lags behind other industries with people still commonly hiding behind private pages. In the tech world, it’s more strange to not have a public page. A private page says more about you that you might want to hide red flags whereas a public page says “go ahead and look, you won’t find any red flags”. One is much more powerful than the other.

Closing and something to read

When you view your professional life, it’s natural to view your professional relationships as being a binary one between patient and physician. That’s certainly essential and certainly important, but as a professional you now have relationships to consider with so many more types of people: co-residents, faculty in your department, faculty in other departments, administrators, support staff, medical students, and so on.
Just as you had to learn how to work with patients, you will have to learn to work with all of the other people in your professional life. Truly effective professionals will treat all interactions importantly and give thought and consideration to each one. All these interactions and relationships will all affect your day-to-day experience, your well-being and, ultimately, your professional experience.
You will find yourself being not just responsible for your patients, but also for yourself, your career and your relationships. It takes effort to succeed in all of those areas. And even with effort, sometimes you’ll be winning in an area and losing in others. And in a few months it will be different -- that’s just life.
I want you to consider looking outside of books and resources written specifically for physicians when you’re trying to tackle these issues inside the hospital and out.
Medicine is a much-smaller-than-you-realize bubble with a long history of personality-driven examples of “that’s just the way we do it” or “that’s how we’ve always done it”. There are good books about medicine out there, to be sure, but you’ll benefit more professionally by learning from the wide world outside of hospitals since there are quite simply many more successful and accomplished people who’ve written great resources for all aspects of professional life that medicine tends to ignore.
I’d recommend you start with this book: Andy Grove’s High Output Management (a review by another Valley titan here). Andy escaped communist Hungary, taught himself English and rose to be CEO of Intel and went on to be a sage of Silicon Valley before he passed. This book is a how-to guide for how to be an effective professional in an organization (hint: you're now a professional in an organization) and if you’ve enjoyed this post at all, you’ll love this book. You may think that this book applies to ‘managers’ and ‘business’ and not medicine but you couldn’t be more wrong. Although it was probably written around the time you were born, nearly everything in this book is a lesson that directly applies to your professional life in medicine and when you start seeing it, you’ll feel like you’re in The Matrix.
Congratulations! You've worked hard to get here. Be proud of yourself, your degree, your long white coat and be the best doctor you can be.
submitted by kiteandkey to Residency [link] [comments]

Are We in a Cryptocurrency Bubble? The Evidence is Strong Is Bitcoin In A Bubble? Is Bitcoin in an S-curve or Bubble?? When Will the Bitcoin Bubble Burst? Why Bitcoin is Going to Crash BITCOIN BUBBLE - Andreas Antonopoulos - YouTube

Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be ... Bitcoin bubble follows classic pattern of investment mania. Growth story is only an absurd appendage to what is already a craze in everything. John Authers Add to myFT. Bitcoin was at $19,666 a ... The narrative of a Bitcoin is a bubble is very common. We employ statistical techniques to empirically evaluate such claim. A branch of literature links the existence of a bubble in some financial asset’s price to strict local martingales — a finitely lived asset has a bubble if, and only if, it is a strict local martingale under the equivalent risk-neutral measure. Bitcoin may be holding its ground but nearly all tokens related to decentralized finance are having a hard time at the moment leading some industry analysts to believe that the bubble has burst. Since its all-time high last month, total value locked across all DeFi platforms has declined by almost 10% according to DeFi Pulse. Bitcoin bubble grows and grows . Share on Twitter (opens new window) Share on Facebook (opens new window) Share on LinkedIn (opens new window) Share on Whatsapp (opens new window) Save. Share on ...

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Are We in a Cryptocurrency Bubble? The Evidence is Strong

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