The SCMP is Slowly Becoming a Megaphone for China

The Flooding

I have generally avoided Asian media outlets with a focus on home here in North America. But then this year’s flooding in China happened. What an eye opener!

With such a large amount of Bitcoin miners I was very interested to find out where flooding was occurring, if there was was still large scale physical locations of Bitcoin mining, and where are the concentrations located. China is very big and not all weather impacts the whole country. For example, the north is in a drought while the south flooded this year.

The Search for Reliable Information

This seems like an easy task but it was not because Chinese state media keeps news on a short-leash. In the end I spent a couple days on Twitter finding accounts with ground level info and videos. I then double and triple checked the information they were Tweeting to make sure it was real and finally found 6 accounts that seemed to be posting legitimate information.

An Introduction via Protests

This is where the South China Morning Post came in to play. During the last year and a half of protests & demonstrations in Hong Kong I mainly followed the Hong Kong Free Press. They seemed fair and the coverage was so good that I didn’t feel there was a need for many sources to bog down the info stream. I did read a bit from the SCMP so I was aware of the headline and writing styles.

The SCMP

Once the 2nd wave of flooding began to ravage Central China in the beginning of Summer I took in any Asian media I could scour for flooding reports. This of course lead me back to the South China Morning Post. But something was different. After nearly 1.5 years of protests and a strong legislative move towards Beijing based policy even this classic pro-independence publication had a clear shift is coverage and language.

What bothers me about the SCMP is that it was not a Pro-Communist publication, but it is clearly drifting. The South China Morning Post is not listed as state sponsored but it essentially has become that. Reporters are still trying to do good, but the editors have changed the narrative.

(END PART 1)

Disclosure. The author does not own any Alibaba or corporate instruments that are leverage for against any Asian entities listed in the article.

Disclaimer

Bitcoin COT & Data (Week Ending Sep 4)

Data Summary

Commitment of Traders Report

  • Dealers STILL have no Long positions
  • Leveraged Funds grow their Short position
  • Everyone other than Leveraged Funds seemed to looking at $12K breaking
Click to Enlarge

Bitcoin Hash Rate 7 Day Average

Bitcoin Hash Rate 7 day rolling average continues to consolidate near all time highs.

Click to Enlarge

Bitcoin Fear & Greed Index

Fear & Greed go absolutely smashed on this last sell off. 40’s was last seen when BTCUSD was trying to break the $9600-9800 area.

Click to Enlarge

Disclaimer

Coronavirus Food Crisis

A thread on the prediction & results of the Coronavirus Food Crisis.

Disclaimer

Bitcoin COT & Data (Week Ending Aug 21)

Data Summary

Commitment of Traders Report

  • Dealers STILL have no Long positions
  • Leveraged Funds added size to their net Short this week
  • NonReportables and Reportables piled on the Longs at the same time, which doesn’t happen too often.
Click to Enlarge

Bitcoin Hash Rate 7 Day Average

Bitcoin Hash Rate 7 day rolling average continues to consolidate but there was a large hiccup in the 1 day raw data as there was a landslide that impacted miners in Sichuan Province, China.

Click to Enlarge

Bitcoin Fear & Greed Index

Fear & Greed is still in the high 70’s. Seems like traders are getting complacent, especially with Ghost Month upon us.

Click to Enlarge

Disclaimer

Bitfinex Adds LINK. Margin Coming.

A Perfect Display of How to Listen to Your Customers.

I took a shot in the dark and bugged Paolo to add LINK…and they did!

Bitfinex is a survivor and it is customer service like this that keeps older exchanges competitive. Not everyday is perfect, but the effort actually does count. Engage with exchanges and help make the ecosystem you want to see. Enjoy!

….it all could be a coincidence, but let’s just go with happy version where we all work together, haha.

LINK Added

Margin When There is More Liquidity

Disclosure. The author owns no LINK (long or short), LEO, or any Bitfinex debt.

Disclaimer

Bithumb Adds Tezos XTZ/KRW

Announcement via Google Translate

Notice[Listing/Event] Tezos (XTZ) listing commemorative BTC airdrop and fee coupon presentation event information (Listing completed)Cafe Manager 2020.08.19 13:38:22

Hello. 

Bithumb is the No.1 virtual asset platform. 

Today, Tezos (XTZ) will be listed newly. In addition, in commemoration of the listing of Tezos (XTZ), the’BTC Airdrop and Fee Coupon Gift Event’ will be held. 

For more information, please refer to the following, and the Tezos (XTZ) staking service will be open as soon as possible, so we ask for your interest and participation. Original announcement here —> https://cafe.bithumb.com/view/board-contents/1641054

Disclosure. The author owns XTZ.

Disclaimer

Flooding in China Impacts Bitcoin Miners

Three Gorges Dam Inflows to Peak Wednesday

As I have been warning for the last 3-4 weeks, flooding has reached mining areas of Sichuan Province in China and operations are being impacted. Here is a thread showing the damages to the area and miners.

Disclosure. The author owns BTC.

Disclaimer

Bitcoin COT & Data (Week Ending Aug 14)

Data Summary

Commitment of Traders Report:

COT Report much of the same this week.

  • Dealers STILL have no Long positions
  • Institutions cut just over half their Longs and are net Short
  • Leveraged Funds net short as always.
  • NonReportables continue to be very Long

Bitcoin Hash Rate 7 day rolling average continues to consolidate at all time highs.

Fear & Greed is still in the high 70’s. This is historically fairly high, especially since it was in the 40’s last month.

Bitcoin COT Report

Click to Enlarge

Bitcoin Hash Rate 7 Day Average

Click to Enlarge

Bitcoin Fear & Greed Index

Click to Enlarge

Disclaimer

Bitcoin COT & Data (Week Ending July 31)

Data Summary

Commitment of Traders Report:

COT Report is crazy this week.

  • Dealers STILL have no Long positions & continue to add to their Shorts
  • Institutions added a large amount of Short positions
  • Leveraged Funds net short as always, seems like it. A large, and equal, amount of Longs and Shorts added this week.
  • Reportables piled on the Shorts
  • NonReportables continue to be the only Chads in the room. Their growing net Long position exploded this week.

Bitcoin Hash Rate 7 day rolling average ends the week with a new all time high! Miners are continuing to feel very confident.

Fear & Greed $98XX broken with volume and now the index is sitting at 75! Bulls are getting euphoric.

Bitcoin COT Report

Bitcoin Hash Rate 7 Day Average

Bitcoin Fear & Greed Index

Disclaimer

Ampleforth Insider Selling

About that “Ecosystem Fund”…

@bccponiz with a short thread on how the Ampleforth Ecosystem Fund moved coins around and then sold down the price of AMPL/BTC hours prior to the investors & advisors coins being unlocked.

“…the ecosystem fund received their unlock of tokens 30~ hours prior to the investors/advisors pool and immediately moved tokens to Kucoin frontrunning them while dumping on the community.

Disclosure. The author does not & has not ever owned any AMPL.

Disclaimer

Altcoin Exchange

Trade Crypto, Forex, Commodities and more

Charting Tool