admin Posted November 11, 2021 Report Share Posted November 11, 2021 style="height: 100%;margin: 0;padding: 0;width: 100%;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background-color: #FAFAFA;"> Enjoy the Latest Edition of Crypto Trader Digest - Chain Reaction A Message from Alexander Höptner, CEO of BitMEX The coolest part about Crypto Trader Digest in my view is that the topics it explores ebb and flow. As crypto ploughs forward into new and uncharted territory like the metaverse, so should our imaginations. Curiosity makes us better suited to spot trends, and therefore makes us better traders. But we shouldn’t stray too far from the thing that brought most of us here in the first place - that macro understanding of how crypto addresses the inefficiencies and inequities present in the incumbent, analogue system. Macro is our bread and butter, and the foundation on which all of this is built. And Arthur returns to it in the latest installment of the Digest. In light of record inflation, fiscal stimulus, and iffy monetary policy decisions, what lies next for crypto in relation to equities? How do bond yields give us a sense of what’s coming? And what key dates do we need to keep an eye out for? Let’s find out, and then relax this weekend and look for another all-time-high. - Alex (@AlexHoeptner) From the Desk of Arthur Hayes Chain Reaction (Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.) Combining an acid with a base yields salt plus water. Chemistry 101. My high school chemistry teacher would be dismayed if he knew that’s all I remembered from his years of instruction. Given the ingredients floating out there in the current global macro environment, the creation of Bitcoin was similarly inevitable – when you combine the internet, cryptography, and a decrepit and inequitable analogue financial system, you’re going to eventually pop out some sort of reactive technological development that attempts to ameliorate the disgusting status quo. Bitcoin and its blockchain happened to be the output. And now you are off to the races. The permutations of ideas that sprouted from our Lord Satoshi’s whitepaper allows me to write every fortnight about new, interesting facets of the crypto ecosystem. DeFi, NFTs, The Metaverse, DAOs, and the decentralisation of everything are all the result of reactions between a number of naturally-occurring inputs – with the two most important ingredients being Bitcoin and an analogue system deserving of an upgrade to mesh with the age of the computer and internet. While we revel in the BOOLMARKET of everything crypto, we must not forget the macroeconomic environment that provides a fertile substrate for the reactions driving our technological advancement. The orgy of post-COVID money printing and stimulus is giving even the most ardent supporters of command-and-control fiscal and monetary policies pause. The inflationary impacts of these policies across the most important manifestations of energy (food, housing, and transportation) are visibly destabilising the global social fabric. They call it “transitory”, but they know the guillotine is quite permanent. Let them eat cake. Click here to continue reading this edition of Crypto Trader Digest – Arthur Hayes, Co-Founder of BitMEX (@CryptoHayes) Latest Commentary from BitMEX Why We’ve Gone Carbon Neutral, and Why That’s Not Enough After making a commitment earlier this year to go carbon neutral, we’ve now offset emissions caused by all Bitcoin transactions to and from BitMEX. We’ve done this by making an initial purchase of 7,110 tonnes of CO2 credits, worth US$ 100,000, which by our calculations will cover the environmental footprint of not only our Bitcoin transactions but also the servers powering BitMEX for the next year. This makes us one of the first crypto exchanges to go carbon neutral on our blockchain transactions. But we know that this alone is not enough. Here are our next steps... Latest from BitMEX Research Bitcoin’s Carbon Footprint We examine the issue of the carbon footprint associated with Bitcoin mining. We argue that the most effective way for users and exchanges to evaluate the situation is through the lens of onchain transaction fees, which is the primary way users directly incentivise miners to conduct their energy intensive behavior. We provide our own very basic and conservative calculation which attempts to estimate the carbon footprint of spending US$1 on transaction fees, whilst to a limited extent considering Bitcoin’s unique energy characteristics, which incentivises low cost energy usage and potentially the use of otherwise trapped power. Like any methodology for measuring the carbon footprint of Bitcoin, ours is flawed, contradictory and controversial, however we believe there is no reasonable approach to this issue which will fully satisfy the critics and our approach improves upon some of the others out there. Social Spotlight View this email in your browser No articles in this email should be copied or reproduced in whole or in part. The information contained does not constitute research or a recommendation. Neither HDR Global Trading Limited nor any of its affiliates make any representation or warranty as to the accuracy or completeness of the statements or any information contained in these articles and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. This is not providing any financial, economic, legal, accounting or tax advice or recommendations. In addition, the receipt of this email is not to be taken as constituting the giving of investment advice nor to constitute such person a client of the BitMEX trading platform. This email was sent to <<Email Address>> why did I get this? unsubscribe from this list update subscription preferences BitMEX · Suite 202, 2nd Floor, Eden Plaza · Eden Island · Mahe · Seychelles Quote Link to comment Share on other sites More sharing options...
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