Nice_老虎社区_美港股上老虎

2021-07-13

Nice

Just 5% Of All Bitcoins In Circulation Have Traded In The Past Year<blockquote>去年，流通中的比特币中只有5%进行了交易</blockquote>

免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":142649494,"tweetId":"142649494","gmtCreate":1626148545118,"gmtModify":1631888958096,"author":{"id":3572498650193459,"idStr":"3572498650193459","authorId":3572498650193459,"authorIdStr":"3572498650193459","name":"ProLim","avatar":"https://static.tigerbbs.com/6eca4831f468b79e30513dff47109ae3","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":2,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Nice</body></html>","htmlText":"<html><head></head><body>Nice</body></html>","text":"Nice","highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/142649494","repostId":1161408787,"repostType":4,"repost":{"id":"1161408787","kind":"news","pubTimestamp":1626147401,"share":"https://www.laohu8.com/m/news/1161408787?lang=zh_CN&edition=full","pubTime":"2021-07-13 11:36","market":"us","language":"en","title":"Just 5% Of All Bitcoins In Circulation Have Traded In The Past Year<blockquote>去年，流通中的比特币中只有5%进行了交易</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1161408787","media":"zerohedge","summary":"In JPMorgan's latest weekly bitcoin hit piece (because for some \"inexplicable\" reason, JPMorgan exec","content":"In JPMorgan's latest weekly bitcoin hit piece (because for some \"inexplicable\" reason, JPMorgan executive have instructed most of the bank's strategists, including those covering equity and rates, to slam the cryptocurrency on a weekly if not daily basis while the bank quietlybuilds out its own proprietary crypto fund, almost as if it is desperate to scare its clients into selling), the bank makes an interesting argument: bitcoin is not liquid enough to be successfully implemented as a legal tender in El Salvador.<blockquote>在摩根大通最新的每周比特币热门文章中（因为出于某种“莫名其妙”的原因，摩根大通高管指示该银行的大多数策略师，包括那些负责股票和利率的策略师，每周（如果不是每天）猛烈抨击加密货币，而该银行则悄悄地建立自己的专有加密货币基金，几乎就好像它不顾一切地吓唬客户抛售一样），该银行提出了一个有趣的论点：比特币的流动性不足以在萨尔瓦多成功实施为法定货币。</blockquote> We won't speak to the validity of JPM's argument - we will soon find out first hand whether or not El Salvador made a mistake in adopting bitcoin as legal tender - although it certainly is simple enough: “daily payment activity in El Salvador would represent ~4% of recent on-chain transaction volume and more than 1% of the total value of tokens which have been transferred between wallets in the past year,” the report said, with the illiquidity and nature of the volume “potentially a significant limitation on its potential as a medium of exchange.”<blockquote>我们不会谈论摩根大通论点的有效性——我们很快就会直接了解萨尔瓦多在采用比特币作为法定货币时是否犯了错误——尽管这肯定很简单：“萨尔瓦多的日常支付活动将占近期链上交易量的约4%，占过去一年钱包之间转移的代币总价值的1%以上，”该交易量的非流动性和性质“可能会严重限制其作为交换媒介的潜力。”</blockquote> Perhaps, then again in its brief history bitcoin has certainly demonstrated that it is remarkably scalable and viable even without a central bank propping it up every time there is even a modest risk-flaring hiccup, which is much more than we could ever say about the global stock market or currencies such as Europe's \"whatever it takes\" euro.<blockquote>或许，在其短暂的历史中，比特币无疑已经证明，即使每次出现轻微的风险爆发问题时，即使没有央行支持，它也具有非凡的可扩展性和可行性，这比我们对全球股市或欧洲“不惜一切代价”欧元等货币所能说的要多得多。</blockquote> Of course, JPMorgan - a bank that directly benefited form more than one multibilion bailout - will be the last to admit just how much sustainable the cryptocurrency has become, which is why we will ignore the bank's latest round of propaganda, but will point out an interesting fact unearthed by JPMorgan: it goes straight to the heart of the recurring argument why bitcoin is so volatile.<blockquote>当然，摩根大通——一家直接受益于超过10亿美元救助的银行——将是最后一家承认加密货币已经变得多么可持续的银行，这就是为什么我们将忽略该银行最新一轮的宣传，但将指出摩根大通发现的一个有趣事实：它直接触及了比特币为何如此不稳定的反复出现的论点的核心。</blockquote> The reason, as JPM has discovered, is that bitcoin's float may be as little as 5%, if not less. Discussing the daily trading volumes of bitcoin, JPM notes that a large fraction of Bitcoin are locked up in illiquid entities (liquidity sinks),\"with more than 90% not changing hands in more than a year\" while roughly 80% - and rising - are held by wallets with light turnover.&nbsp; This means that a paltry 5-10% of all bitcoin in circulation has traded in the past year.<blockquote>摩根大通发现，原因是比特币的持股量可能只有5%，甚至更少。在讨论比特币的每日交易量时，摩根大通指出，很大一部分比特币被锁定在非流动性实体（流动性下沉）中，“超过90%的股票在一年多的时间里没有易手”，而大约80%——而且还在上升——由成交量较少的钱包持有。这意味着，在过去一年中，流通中的比特币中只有微不足道的5-10%进行了交易。</blockquote> <img src=\"https://static.tigerbbs.com/ce30e31759284bfbf1d8923cb4149bfc\" tg-width=\"725\" tg-height=\"534\"><blockquote></blockquote> Another way of putting it:an asset with a $600 billion market cap has a float of just $30 billion.Which is remarkable as it means thatno whalessold bitcoin when it hit its all time high of $65,000.And if they didn't sell then, they certainly won't sell now when it's half that price.<blockquote>换一种说法：一项市值6000亿美元的资产的流通量仅为300亿美元。这很了不起，因为这意味着没有鲸鱼当比特币触及65,000美元的历史高点时出售。如果他们当时不卖，现在价格是那个价格的一半，他们肯定不会卖。</blockquote> This, more than anything else, explains why bitcoin - an asset whose market cap was more than a $1 trillion as recently as April - is so extremely volatile: with the vast majority of bitcoin locked up or held by whale accounts who rarely if ever trade, the marginal price setter of bitcoin are odd lots - a burst of trading in fractions of a bitcoin, where the momentum in many cases is ignited and magnified by HFTs who then shape the movement of the crypto in hopes of hitting the max pain stop loss positions for other cryptos, and where as a result of such a unique trading environment, the price of bitcoin can swing 10%, 15% , or even 20% or more every day.<blockquote>这比其他任何事情都更能解释为什么比特币——一种截至4月份市值还超过1万亿澳元的资产——如此不稳定：绝大多数比特币被很少交易的鲸鱼账户锁定或持有，比特币的边际价格制定者是零星地段——比特币的一部分交易爆发，在许多情况下，这种势头被高频交易点燃和放大，然后他们塑造加密货币的走势，希望达到其他加密货币的最大痛苦止损头寸，由于这种独特的交易环境，比特币的价格每天可以波动10%、15%，甚至20%或更多。</blockquote> The question we have is during liquidation pukes like the one observed recently, how much of the newly released bitcoin are gobbled up by existing or new whales. Judging by the gray line in the chart above, the answer is a record amount.<blockquote>我们面临的问题是，在像最近观察到的清算呕吐中，有多少新释放的比特币被现有的或新的鲸鱼吞噬了。从上图中的灰线来看，答案是创纪录的金额。</blockquote> Which means that we are now in the\"weak hands\" shake out and whale accumulationphase. And once the new generation of whales has bought enough, that's when the next squeeze higher will take place, sending the crypto currency and its peers to fresh all time highs. Because if there is one thing that is very easy to do with an asset whose float is as low as bitcoin's, it is to manipulate it as a handful of big players want.<blockquote>这意味着我们现在处于“弱手”抖出鲸鱼积累阶段。一旦新一代鲸鱼购买了足够多的东西，下一次挤压就会发生，将加密货币及其同行推至历史新高。因为如果有一件事对一个流通量像比特币一样低的资产来说是非常容易做的，那就是按照少数大玩家的意愿操纵它。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Just 5% Of All Bitcoins In Circulation Have Traded In The Past Year<blockquote>去年，流通中的比特币中只有5%进行了交易</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJust 5% Of All Bitcoins In Circulation Have Traded In The Past Year<blockquote>去年，流通中的比特币中只有5%进行了交易</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-07-13 11:36\n\n</h4>\n</header>\n<article>\nIn JPMorgan's latest weekly bitcoin hit piece (because for some \"inexplicable\" reason, JPMorgan executive have instructed most of the bank's strategists, including those covering equity and rates, to slam the cryptocurrency on a weekly if not daily basis while the bank quietlybuilds out its own proprietary crypto fund, almost as if it is desperate to scare its clients into selling), the bank makes an interesting argument: bitcoin is not liquid enough to be successfully implemented as a legal tender in El Salvador.<blockquote>在摩根大通最新的每周比特币热门文章中（因为出于某种“莫名其妙”的原因，摩根大通高管指示该银行的大多数策略师，包括那些负责股票和利率的策略师，每周（如果不是每天）猛烈抨击加密货币，而该银行则悄悄地建立自己的专有加密货币基金，几乎就好像它不顾一切地吓唬客户抛售一样），该银行提出了一个有趣的论点：比特币的流动性不足以在萨尔瓦多成功实施为法定货币。</blockquote> We won't speak to the validity of JPM's argument - we will soon find out first hand whether or not El Salvador made a mistake in adopting bitcoin as legal tender - although it certainly is simple enough: “daily payment activity in El Salvador would represent ~4% of recent on-chain transaction volume and more than 1% of the total value of tokens which have been transferred between wallets in the past year,” the report said, with the illiquidity and nature of the volume “potentially a significant limitation on its potential as a medium of exchange.”<blockquote>我们不会谈论摩根大通论点的有效性——我们很快就会直接了解萨尔瓦多在采用比特币作为法定货币时是否犯了错误——尽管这肯定很简单：“萨尔瓦多的日常支付活动将占近期链上交易量的约4%，占过去一年钱包之间转移的代币总价值的1%以上，”该交易量的非流动性和性质“可能会严重限制其作为交换媒介的潜力。”</blockquote> Perhaps, then again in its brief history bitcoin has certainly demonstrated that it is remarkably scalable and viable even without a central bank propping it up every time there is even a modest risk-flaring hiccup, which is much more than we could ever say about the global stock market or currencies such as Europe's \"whatever it takes\" euro.<blockquote>或许，在其短暂的历史中，比特币无疑已经证明，即使每次出现轻微的风险爆发问题时，即使没有央行支持，它也具有非凡的可扩展性和可行性，这比我们对全球股市或欧洲“不惜一切代价”欧元等货币所能说的要多得多。</blockquote> Of course, JPMorgan - a bank that directly benefited form more than one multibilion bailout - will be the last to admit just how much sustainable the cryptocurrency has become, which is why we will ignore the bank's latest round of propaganda, but will point out an interesting fact unearthed by JPMorgan: it goes straight to the heart of the recurring argument why bitcoin is so volatile.<blockquote>当然，摩根大通——一家直接受益于超过10亿美元救助的银行——将是最后一家承认加密货币已经变得多么可持续的银行，这就是为什么我们将忽略该银行最新一轮的宣传，但将指出摩根大通发现的一个有趣事实：它直接触及了比特币为何如此不稳定的反复出现的论点的核心。</blockquote> The reason, as JPM has discovered, is that bitcoin's float may be as little as 5%, if not less. Discussing the daily trading volumes of bitcoin, JPM notes that a large fraction of Bitcoin are locked up in illiquid entities (liquidity sinks),\"with more than 90% not changing hands in more than a year\" while roughly 80% - and rising - are held by wallets with light turnover.&nbsp; This means that a paltry 5-10% of all bitcoin in circulation has traded in the past year.<blockquote>摩根大通发现，原因是比特币的持股量可能只有5%，甚至更少。在讨论比特币的每日交易量时，摩根大通指出，很大一部分比特币被锁定在非流动性实体（流动性下沉）中，“超过90%的股票在一年多的时间里没有易手”，而大约80%——而且还在上升——由成交量较少的钱包持有。这意味着，在过去一年中，流通中的比特币中只有微不足道的5-10%进行了交易。</blockquote> <img src=\"https://static.tigerbbs.com/ce30e31759284bfbf1d8923cb4149bfc\" tg-width=\"725\" tg-height=\"534\"><blockquote></blockquote> Another way of putting it:an asset with a $600 billion market cap has a float of just $30 billion.Which is remarkable as it means thatno whalessold bitcoin when it hit its all time high of $65,000.And if they didn't sell then, they certainly won't sell now when it's half that price.<blockquote>换一种说法：一项市值6000亿美元的资产的流通量仅为300亿美元。这很了不起，因为这意味着没有鲸鱼当比特币触及65,000美元的历史高点时出售。如果他们当时不卖，现在价格是那个价格的一半，他们肯定不会卖。</blockquote> This, more than anything else, explains why bitcoin - an asset whose market cap was more than a $1 trillion as recently as April - is so extremely volatile: with the vast majority of bitcoin locked up or held by whale accounts who rarely if ever trade, the marginal price setter of bitcoin are odd lots - a burst of trading in fractions of a bitcoin, where the momentum in many cases is ignited and magnified by HFTs who then shape the movement of the crypto in hopes of hitting the max pain stop loss positions for other cryptos, and where as a result of such a unique trading environment, the price of bitcoin can swing 10%, 15% , or even 20% or more every day.<blockquote>这比其他任何事情都更能解释为什么比特币——一种截至4月份市值还超过1万亿澳元的资产——如此不稳定：绝大多数比特币被很少交易的鲸鱼账户锁定或持有，比特币的边际价格制定者是零星地段——比特币的一部分交易爆发，在许多情况下，这种势头被高频交易点燃和放大，然后他们塑造加密货币的走势，希望达到其他加密货币的最大痛苦止损头寸，由于这种独特的交易环境，比特币的价格每天可以波动10%、15%，甚至20%或更多。</blockquote> The question we have is during liquidation pukes like the one observed recently, how much of the newly released bitcoin are gobbled up by existing or new whales. Judging by the gray line in the chart above, the answer is a record amount.<blockquote>我们面临的问题是，在像最近观察到的清算呕吐中，有多少新释放的比特币被现有的或新的鲸鱼吞噬了。从上图中的灰线来看，答案是创纪录的金额。</blockquote> Which means that we are now in the\"weak hands\" shake out and whale accumulationphase. And once the new generation of whales has bought enough, that's when the next squeeze higher will take place, sending the crypto currency and its peers to fresh all time highs. Because if there is one thing that is very easy to do with an asset whose float is as low as bitcoin's, it is to manipulate it as a handful of big players want.<blockquote>这意味着我们现在处于“弱手”抖出鲸鱼积累阶段。一旦新一代鲸鱼购买了足够多的东西，下一次挤压就会发生，将加密货币及其同行推至历史新高。因为如果有一件事对一个流通量像比特币一样低的资产来说是非常容易做的，那就是按照少数大玩家的意愿操纵它。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/markets/just-5-all-bitcoins-circulation-have-traded-past-year\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.zerohedge.com/markets/just-5-all-bitcoins-circulation-have-traded-past-year","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161408787","content_text":"In JPMorgan's latest weekly bitcoin hit piece (because for some \"inexplicable\" reason, JPMorgan executive have instructed most of the bank's strategists, including those covering equity and rates, to slam the cryptocurrency on a weekly if not daily basis while the bank quietlybuilds out its own proprietary crypto fund, almost as if it is desperate to scare its clients into selling), the bank makes an interesting argument: bitcoin is not liquid enough to be successfully implemented as a legal tender in El Salvador.\nWe won't speak to the validity of JPM's argument - we will soon find out first hand whether or not El Salvador made a mistake in adopting bitcoin as legal tender - although it certainly is simple enough: “daily payment activity in El Salvador would represent ~4% of recent on-chain transaction volume and more than 1% of the total value of tokens which have been transferred between wallets in the past year,” the report said, with the illiquidity and nature of the volume “potentially a significant limitation on its potential as a medium of exchange.”\nPerhaps, then again in its brief history bitcoin has certainly demonstrated that it is remarkably scalable and viable even without a central bank propping it up every time there is even a modest risk-flaring hiccup, which is much more than we could ever say about the global stock market or currencies such as Europe's \"whatever it takes\" euro.\nOf course, JPMorgan - a bank that directly benefited form more than one multibilion bailout - will be the last to admit just how much sustainable the cryptocurrency has become, which is why we will ignore the bank's latest round of propaganda, but will point out an interesting fact unearthed by JPMorgan: it goes straight to the heart of the recurring argument why bitcoin is so volatile.\nThe reason, as JPM has discovered, is that bitcoin's float may be as little as 5%, if not less. Discussing the daily trading volumes of bitcoin, JPM notes that a large fraction of Bitcoin are locked up in illiquid entities (liquidity sinks),\"with more than 90% not changing hands in more than a year\" while roughly 80% - and rising - are held by wallets with light turnover.  This means that a paltry 5-10% of all bitcoin in circulation has traded in the past year.\n\nAnother way of putting it:an asset with a $600 billion market cap has a float of just $30 billion.Which is remarkable as it means thatno whalessold bitcoin when it hit its all time high of $65,000.And if they didn't sell then, they certainly won't sell now when it's half that price.\nThis, more than anything else, explains why bitcoin - an asset whose market cap was more than a $1 trillion as recently as April - is so extremely volatile: with the vast majority of bitcoin locked up or held by whale accounts who rarely if ever trade, the marginal price setter of bitcoin are odd lots - a burst of trading in fractions of a bitcoin, where the momentum in many cases is ignited and magnified by HFTs who then shape the movement of the crypto in hopes of hitting the max pain stop loss positions for other cryptos, and where as a result of such a unique trading environment, the price of bitcoin can swing 10%, 15% , or even 20% or more every day.\nThe question we have is during liquidation pukes like the one observed recently, how much of the newly released bitcoin are gobbled up by existing or new whales. Judging by the gray line in the chart above, the answer is a record amount.\nWhich means that we are now in the\"weak hands\" shake out and whale accumulationphase. And once the new generation of whales has bought enough, that's when the next squeeze higher will take place, sending the crypto currency and its peers to fresh all time highs. Because if there is one thing that is very easy to do with an asset whose float is as low as bitcoin's, it is to manipulate it as a handful of big players want.","news_type":1,"symbols_score_info":{"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":998,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/142649494"}