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drewg__'s profile
drew
drew
drew
@drewg__

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drew

@drewg__

electronic trading technologist, illiquid commodity futures enthusiast, hedge fund/HFT apologist, big idiot

NYC
Joined April 2009

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    1. Midwestern Hedgie‏ @MidwestHedgie Jan 3
      Replying to @drewg__

      nah, i think your model would correlate until it suddenly doesn't. different, but related, from our letter this month:pic.twitter.com/LLcypFV8Zp

      2 replies 0 retweets 8 likes
    2. ONAN‏ @ONAN_OUS Jan 3
      Replying to @MidwestHedgie @drewg__

      I remember ppl saying after the BTC crash last time that the floor on the price ended up being near the cost of the electricity in China where most of it is mined.

      4 replies 0 retweets 7 likes
    3. Midwestern Hedgie‏ @MidwestHedgie Jan 3
      Replying to @ONAN_OUS @drewg__

      this may well be in the near-term, but in the long run, is there a redemption mechanism where people can turn their BTC back into electricity? if not, i don't see how this would hold.

      2 replies 0 retweets 9 likes
    4. Zaphod‏ @MinvstrD Jan 3
      Replying to @MidwestHedgie @ONAN_OUS @drewg__

      Tesla's use electricity so I think this works.

      1 reply 0 retweets 1 like
    5.  🌩️𝖘𝖈𝖍𝖆𝖚𝖉𝖊𝖓𝖋𝖗𝖆𝖚𝖉 🌩️‏ @schaudenfraud Jan 3
      Replying to @MinvstrD @MidwestHedgie and

      you can sell bitcoin and umm buy electricity

      3 replies 0 retweets 2 likes
    6. Midwestern Hedgie‏ @MidwestHedgie Jan 3
      Replying to @schaudenfraud @MinvstrD and

      yep, when it's economical to mine bitcoin, it will be mined, and when it's uneconomical to mine and maintain the network, the whole system breaks

      2 replies 0 retweets 1 like
    7.  🌩️𝖘𝖈𝖍𝖆𝖚𝖉𝖊𝖓𝖋𝖗𝖆𝖚𝖉 🌩️‏ @schaudenfraud Jan 3
      Replying to @MidwestHedgie @MinvstrD and

      if the system was destined to break wouldn't it have already?

      2 replies 0 retweets 1 like
    8. Midwestern Hedgie‏ @MidwestHedgie Jan 3
      Replying to @schaudenfraud @MinvstrD and

      is this satire?

      1 reply 0 retweets 2 likes
    9.  🌩️𝖘𝖈𝖍𝖆𝖚𝖉𝖊𝖓𝖋𝖗𝖆𝖚𝖉 🌩️‏ @schaudenfraud Jan 3
      Replying to @MidwestHedgie @MinvstrD and

      I was writing in the shitposter’s voice but I think it’s a genuinely useful question for someone that thinks the Bitcoin network is destined to collapse to consider.

      2 replies 0 retweets 1 like
    10. Midwestern Hedgie‏ @MidwestHedgie Jan 3
      Replying to @schaudenfraud @MinvstrD and

      I am net long bitcoin, but the eventual collapse of BTC is 100% inevitable, as inevitable as a short options strategy eventually blowing up. If the price ever goes down a lot, transaction costs will skyrocket, and it will become useless as a means of exchange or speculation.

      1 reply 0 retweets 2 likes
      drew‏ @drewg__ Jan 3
      Replying to @MidwestHedgie @schaudenfraud and

      This is a lot likelier to happen after more bitcoin has been mined and mining rewards are replaced by less substantial transaction fees

      11:21 AM - 3 Jan 2021 from Brooklyn, NY
      • 2 Likes
      • Zaphod 🌩️𝖘𝖈𝖍𝖆𝖚𝖉𝖊𝖓𝖋𝖗𝖆𝖚𝖉🌩️
      0 replies 0 retweets 2 likes

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