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Recent quotes:
Polymarket Whale Traders: How 1% of Bettors Are Boosting Trump’s Odds - Bloomberg
Among this subset of users, 16% of bets can be traced to just 10 whales. On Oct. 17, six of these whales drove 37% of predictions. In one 12-hour window, they placed $5.2 million in bets as Trump’s odds rose about four percentage points.
The Paranoid Style in American Investing in 2021 - Bloomberg
An emerging theory, the Inelastic Markets Hypothesis, postulates that retail buying is able to warp prices for prolonged periods because so much of the market is now passive, not actively managed, and is therefore insensitive to changes in prices.
“Demand shocks and inelastic markets are the tissue that connects the meme stocks, Tesla and even crypto” says Philippe van der Beck, a researcher at the Swiss Finance Institute. 2 “Bitcoin can be seen as an extreme version of today’s stock market: it’s almost entirely detached from fundamental value as there are no cash flows for investors to discount. People are just betting on how they think demand for the asset will change in the future”
Bitcoin Climbs as Analysts Say Getting Back to $40,000 Is Key - Bloomberg
“I dread to think what most risk officers would think about that being in a core investment portfolio,” the chief investment officer of core investments at Axa Investment Managers wrote in a note. “For assets to be considered in a long-term investment portfolio one should be able to attach some fundamental intrinsic value to them.”
Endnotes on 2020: Crypto and Beyond
The community split was chaotic, and one can see this in how the channels of communication were split up in the divorce: /r/bitcoin stayed under the control of supporters of Bitcoin (BTC). /r/btc was controlled by supporters of Bitcoin Cash (BCH). Bitcoin.org was controlled by supporters of Bitcoin (BTC). Bitcoin.com on the other hand was controlled by supporters of Bitcoin Cash (BCH). Each side claimed themselves to be the true Bitcoin. The result looked remarkably similar to one of those civil wars that happens from time to time that results in a country splitting in half, the two halves calling themselves almost identical names that differ only in which subset of the words "democratic", "people's" and "republic" appears on each side. Neither side had the ability to destroy the other, and of course there was no higher authority to adjudicate the dispute.
Civil, the blockchain-based journalism marketplace, is building its first batch of publications » Nieman Journalism Lab
Built on top of blockchain (the same technology that underpins bitcoin), Civil promises to use the technology to build decentralized marketplaces for readers and journalists to work together to fund coverage of topics that interest them, or for those in the public interest. Readers will support reporters using “CVL” tokens, Civil’s cryptocurrency, giving them a speculative stake in the currency that will — hopefully — increase in value as more people buy in over time. This, Civil, hopes will encourage more people to invest in the marketplaces, creating a self-sustaining system that will help fund more reporting.
