Bitcoin Jack

The Bitcoin social layer has become so confused that they rather solve witness encryption than upgrade Bitcoin, and are proud of it. I love Bitcoin for that, but at some point you have to admit you are working with constraints that are most likely not overcome, or if they are, it will take many many years to figure out how to adopt it such that it becomes useful and easy to use, because you have to invent so many weird quirks to make it work. Realistically this solution won't turn useful, and will require years to validate security assumptions. It works vs it's useful are two different planets. The discussion should shift to consensus upgrades, something I have been saying for some time now. Meanwhile, on planet Z, things are moving at the speed of light and much of what's required is already in place. Last year, for the first time ever since joining this space in 2016, I realized there is actual competition to Bitcoin's moat. I never thought this would happen, but I also never thought that, 10 years later, Bitcoin would still struggle to enforce meaningful upgrades to its base protocol. I truly understand the hesitation to make upgrades. Bitcoin's strength is derived from exactly that. But its strength has become its weakness. Rome fell out of arrogance. I hope the ship will correct its course. In the meantime, ZCash is our hope, especially if Democrats win the mid terms and the Presidential election in 2028. With AI taking over the world, privacy becomes a necessity, even more so depending on who makes the rules. Fwiw, ZEC and NEAR intents can serve as the privacy layer to Bitcoin, today. The most logical allocation is to own both. Bitcoin for the highest security assumptions one can make, ZEC as the SoV hedge Bitcoin will remain stagnant, private chain agnostic spending account and privacy becomings a necessity before Bitcoin can see the light. The self sovereign individual is gravitating to a $ZEC x $NEAR x $VVV x (some to be decided crypto x AI behemoth 10000x coin) x $HYPE etc stack

Check out $SECZ Then look at ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3, $ENA etc Should be blatantly obvious that the tokenize everything trade is moving at lightning speed Institutional interest is soaring and those who are interested are early, considering that the masses are still to wake up to it To imagine this doesn't sustain a large bid under majors is silly. BTC, ETH, SOL, ZEC etc Holy shit $HYPE ethereum:0x232ce3bd40fcd6f80f3d55a522d03f25df784ee2

One year ago the Bitget hacker would have left the Ethereum and left some extra just out of compassion to the poor holders Today, it will tokenize the world https://t.co/KlZYkUHikG

Guess what Bitcoiners are doing now in the real Shielded Bitcoin order books?

Ironically I think they just created the catalyst for ZCash to go on another mind melting insane ripper "ZCash up 80% on announcement of Shielded Bitcoin" https://t.co/UKFfU6fU5j https://t.co/NBsVEzPO2X

ZCash new highs by end of week or Shielded Bitcoin is a fad

You can buy Shielded Bitcoin, today It's called ZCash https://t.co/hgrRBMmg1x

Bitcoiners retweeting a quirky, non consensus integrated, clunky & slow in research phase privacy solution for Bitcoin, that has no chance to be usable at cash scale and that will take years to get somewhat usable UX... is basically writing ads for ZCash

It’s too early to say if that was it but substantial amounts of leverage have been erased over the last few hours, inexplicably much considering how muted this move has been BTC 84k pin range respected for now, which is my base case going into opex We are past my caution with leverage signal on the 22nd and the books indicate that a lot of it is gone now Were people so levered to the tits and derisked into what appears a strong low leverage / spot bid?

Not much to report. BTC likely pinned between 84-88 until opex. Small tail scenario that requires some kind of sick move to nuke Binance shorts, at which point there might be some gamma left to squeeze (the move would be unprecedented lol). Looks like pin and lift is most plausible at this point Regardless, lots of OI opened on the move up and shorts have been the more aggressive side on perps on Binance Top callers have the odds stacked against them, still Trapdoor sits below 81 Good luck have fub