G’day Folks,

Permabull Nino is one of my oldest friends in the Bitcoin industry. The two of us cut our teeth together studying and developing onchain tools and metrics over many years. PB has an accounting background, and currently works as an analyst and trader for SpaceWhale Capital. He has a wealth of experience working with derivatives, and assessing how capital rotates through the crypto markets.

PB is actually a co-founder of the original iteration of the Rough Consensus podcast, which was one of our ‘stay sane during COVID’ projects. We both worked as contractors for the Decred project at the time (R.I.P.), which was where a lot of the original work was done exploring how behavioural patterns show up in onchain data.

In today’s conversation, we branch out beyond Bitcoin to explore:

How derivatives influence spot markets (and vice versa)

Dynamics of capital rotation through crypto markets.

How we think about analysing Bitcoin vs altcoins.

Theorising about the trajectory of ETH vs its competition.

Why we continue to come back to Bitcoin as the ultimate answer.

We cover a lot of ground in this podcast, and I hope you enjoy it as much as I did. If so, please consider sharing the episode and giving us a rating on Spotify/Apple Podcasts, as it helps more folks find our work.

This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit newsletter.checkonchain.com/subscribe

Borne upon Eagles’ Wings | Jeffrey R. Holland | June 1974