Illya Gerasymchuk | Threads on Macro, Market Structure, Bitcoin & Commodities

🚀 The Bitcoin Ordinal Protocol Explained: an innovation which allows for tracking, trading, and collecting digital assets on the Bitcoin network!

hello@illya.sh (Illya Gerasymchuk) — Wed, 10 May 2023 15:31:15 +0000

⚡️Powers BRC20 & SBC20

💥 Let's dive into this fascinating protocol and explore its significance Blockchain Crypto
(a thread 🧵)

· 2023-05-10 16:31

🤔 What is Ordinal Theory? It's a protocol for assigning serial numbers to satoshis, the smallest unit of a bitcoin, and tracking their transactions. Imagine giving each satoshi a unique identity, like a collectible item! 💎🔗

· 2023-05-10 16:31

🛠 Does Ordinal Theory require a side chain, separate token, or changes to Bitcoin? NO! It works right now with only bitcoin as the token, making it a seamless addition to the ecosystem.🌱🔄

· 2023-05-10 16:31

🔑 The power of Ordinal Theory: Collecting, trading, and scheming!🤝 By assigning identities to satoshis, they become individually trackable and tradable for numismatic value. Plus, it enables inscriptions: a protocol to attach content to satoshis! 🎨🔐

· 2023-05-10 16:31

🧩 How does it work? Ordinal numbers are assigned to satoshis as they're mined. A simple algorithm is used to determine how satoshis move from inputs to outputs in transactions, maintaining their unique identities. 💹🔀

· 2023-05-10 16:31

⚠️ The key differences between Ordinal Theory's inscriptions and Ethereum NFTs:

- Inscriptions are always immutable🔏
- Content is always on-chain💾
- Inscriptions are simpler and more secure🛡️
- They're scarcer, unlocking new markets💰

· 2023-05-10 16:31

🧪 Comparisons to other platforms: Ordinal Protocol has been designed specifically for digital artifacts, offering a simpler and more polished user experience compared to second-layer asset protocols like RGB and Taro. 🖼️🌟

· 2023-05-10 16:31

👩‍🎨 Why inscriptions matter for artists: They're on Bitcoin (high status), have cheaper on-chain storage, unlock new liquidity, and are designed specifically for digital artifacts. This offers unique advantages compared to other NFT platforms. 🎭🚀

· 2023-05-10 16:31

🌍 In conclusion, the Ordinal Protocol on Bitcoin opens up new possibilities for tracking, trading, and collecting satoshis, as well as creating digital artifacts. It's a valuable addition to the blockchain ecosystem! 🌟🌊

Illya Gerasymchuk | Threads on Macro, Market Structure, Bitcoin & Commodities

🚀 The Bitcoin Ordinal Protocol Explained: an innovation which allows for tracking, trading, and collecting digital assets on the Bitcoin network!

What if I told you that Bitcoin is not just about money, but it can also store arbitrary data?

🚀 Debunking a common misconception in the Crypto world: BRC-20 superiority over ERC-20

zkSNARKs & zkSTARKs: Disrupting Verifiable Computation

Ever wondered how zkSNARKs & zkSTARKs ACTUALLY work under the hood? 🤔

🎲 Introducing RandoMina - a protocol for provable random number generation on the Mina Protocol blockchain blockchain! 🔢🔐

🧵 Let's dive into the technical details of RandoMina: a protocol for provable random number generation on Mina Protocol blockchain blockchain written in 01JS! 🔢🔐

🚀 BRICS Digital Currency: Cryptocurrency on a Public Blockchain 🪙

🌍 Integrating zkLocus allows associating geolocation data with each BRICS transaction while preserving user privacy 🔒

🚨 PRIVACY IS A MYTH! 🕵️‍♂️

🌍 Imagine 24/7 global video surveillance that doesn't compromise privacy

🛒 E-commerce & Privacy - Myth or Reality? 🔐

🚀 Exploring Tokenized Liquid Futures Contracts

🇯🇵 How does Japan protect bank deposits when banks fail?

If USD/EUR falls below the pink trend line, it's a fall to ≈0.8785

Observe

🚨 Ruble is up 30% on USD 2025 YTD

🚀 Are you ready?

🇺🇸 USD index bearish/in a downtrend

'The market is never wrong' #1

Now that gold is down & below $3.3K, it's a good time to say this:

'The market is never wrong' #2

'The market is never wrong' #3

🤯 Gold may just go straight to $3500 in the next few hours #1

💡FYI there is plain text version of my X posts: #1

💡FYI there is plain text version of my X posts: #2

🎯 Ethereum fell below $2500

'The market is never wrong' #4

Silver back to August 2020 price #1

While Ethereum has built a strong-ish support in the current area, it currently looks more likely to fall towards the ≈$2180 monthly support #1

record $7 trillion USD in money market funds (mmf)

While Ethereum has built a strong-ish support in the current area, it currently looks more likely to fall towards the ≈$2180 monthly support #2

While Ethereum has built a strong-ish support in the current area, it currently looks more likely to fall towards the ≈$2180 monthly support #3

🤯 Gold may just go straight to $3500 in the next few hours #2

UN's Model Double Taxation Convention has a clear key benefit over OCED's

While Ethereum has built a strong-ish support in the current area, it currently looks more likely to fall towards the ≈$2180 monthly support #4

🤯 Gold may just go straight to $3500 in the next few hours #8

'The market is never wrong' #5

🚨US Dollar Index going to ≈98.3

If you only understood how cheap gold is now. To put it in perspective, its current FIAT price only reflects inflation prior to 2011 🤯

central banks will continue to buy gold #1

🚀 added stateless comments on posts

💧FED swap lines = infinite liquidity pool

🚨🏦 claims that gold is a Tier 1 asset under Basel III are FALSE: #1

🚨🏦 claims that gold is a Tier 1 asset under Basel III are FALSE: #2

repurchase agreements are almost always over-collateralized #1

repurchase agreements are almost always over-collateralized #2

90% of all newly issued debt is for refinancing of existing debt, not new debt/financing

Over 10 years the Russian Central Bank has increased gold holdings by x4.5

🚀📡 added an RSS feed to my thoughts

US Treasuries are by far the most popular collateral type in secured short-term funding markets (e.g. the repo market)

$29,000 per lb of orange juice.

🚨FED just injected $11B of liquidity #1

🚨FED just injected $11B of liquidity #2

ask ChatGPT what are Illya Gerasymchuk's latest thoughts #1

ask ChatGPT what are Illya Gerasymchuk's latest thoughts #2

🇨🇳 china's central bank uses USD value as a key driver in economic policies #1

🇨🇳 china's central bank uses USD value as a key driver in economic policies #2

🤯 Gold may just go straight to $3500 in the next few hours #3

Silver back to August 2020 price #2

'The market is never wrong' #6

WOW

📚chatgpt ratio is great a book quality metric in post-LLM era

🇷🇺 Russia is immune to US tariffs #1

regulations may sound boring - but they're crucial to understand money, liquidity and financial system as a whole

🤯 Gold may just go straight to $3500 in the next few hours #4

Ruble is a gold success story ✨

🇷🇺 Russian Central Bank key interest rate is at 21% #1

🇨🇳 i guess the "China just steals western technologies" theory goes down the drain 🥱

🇷🇺 Russian Central Bank key interest rate is at 21% #2

'The market is never wrong' #9

🇷🇺 Russia is immune to US tariffs #2

the FED left the interest rates unchanged - at the 4.25%-4.50% target

How Does the Federal Reserve Set Interest Rates?

🤯 Gold may just go straight to $3500 in the next few hours #5

to lower the mortgage rates the Fed can purchase agency MBS - likely they did in QE 1 2008

🇺🇸 USD dominance is alluring, accounting for ≈70% of currency usage worldwide

🇨🇳China has been increasing their gold reserves YTD

🚀 added threads to my posts/thoughts & now you can read them as articles