What are Bitcoin Stocktwits?
Bitcoin Stocktwits shares the real-time trade and investing ideas on Bitcoin BTC/USD BTC.X from the largest community of traders and investors.
Bitcoin is a digital currency that is created in January 2009. It follows the ideas outlined in a white paper by the mysterious pseudonym Satoshi Nakamoto1.
The identity of the person or persons who developed the technology remains a mystery.
Bitcoin promises lower transaction fees than conventional online payment mechanisms and, unlike state-issued currencies, is operated by a decentralized authority.
Bitcoin is a type of cryptocurrency. There are no physical bitcoins, only balances kept in a public ledger that anyone can transparently access.
All Bitcoin transactions are verified by enormous computing power. Bitcoin is not issued or endorsed by any bank or government, nor is a single Bitcoin valuable as a commodity.
Despite the fact that it is not legal tender in most of the world, Bitcoin is very popular and has sparked the introduction of hundreds of other cryptocurrencies, collectively known as altcoins.
Also, Bitcoin is commonly abbreviated as “BTC”.
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The Bitcoin system is a collection of computers (also known as “nodes” or “miners”) that run Bitcoin’s code and store its blockchain.
Metaphorically, a blockchain can be thought of as a collection of blocks. There is a collection of transactions in each block.
Since all computers running the blockchain have the same list of blocks and transactions and can transparently see that these new blocks are filled with new Bitcoin transactions, nobody can fool the system.
Everyone, whether they run a Bitcoin “node” or not, can see that these transactions are happening in real time.
To do a nefarious act, a bad actor would have to run 51% of the computing power that makes up Bitcoin.
Bitcoin is around 10,000 nodes as of June 2021, and that number is growing, making such an attack quite unlikely.
The private key (comparable to an ATM PIN) is suppose to be a guarding secret and is only using to authorize Bitcoin transfers.
Bitcoin keys should not be confusing with a Bitcoin wallet, which is a physical or digital device that facilitates Bitcoin trading and allows users to track the ownership of coins.
The term “wallet” is a bit misleading, as Bitcoin is never storing “in” a wallet, but decentrally on a blockchain due to its decentralization.
Bitcoin is one of the first digital currencies to use peer-to-peer technology to enable instant payments.
Independent individuals and companies that own the dominant computing power and participate in the Bitcoin network (Bitcoin “miners”).
They are responsible for processing transactions on the blockchain and are motivating by rewards (the introduction of new Bitcoins) and transaction fees, which includes in Bitcoin to be paid.
You can think of these miners as it decentralizes authority enforcing the credibility of the Bitcoin network.
The new bitcoins delivers to the miners at a fix price, which, however, drops regularly. In total, only 21 million bitcoins can mine.
As of June 2021, there are more than 18 million bitcoins and fewer than 3 million bitcoins have yet to be mining.
In this way, Bitcoin and other cryptocurrencies work differently than the fiat currency.
In centralized banking systems, currency is releasing at a rate that matches the growth of assets.
The system intends to ensure price stability. A decentralized system like Bitcoin sets the release rate in advance and according to an algorithm.
StockTwits is a social media platform for exchanging ideas between investors, traders, and entrepreneurs.
The company begins in 2009 by Howard Lindzon and Soren Macbeth.
The company received its first Shorty Award in the finance category in 2008.
Time magazine listed the company in 2010 as one of its “Top 50 Websites.”
Additionally, the company is one of FastCompany’s “10 Most Innovative Companies in Finance” in 2012.
As of June 2013, StockTwits had 230,000 active members.
By mid-2019, that number had grown to 2 million, and the company was introducing free online trading through an iOS app for the first time.
As a source of information, StockTwits competes with a variety of information sources that traders use to aid decision making, from traditional financial news websites and newsletters to more modern trading applications and alternative news sources.
While StockTwits is free, it has to compete for your valuable time that you could spend on other sources of financial news and information.
So let’s quickly review StockTwits so you can decide for yourself if it is worth your time or if other sources of financial information are better suitable to your needs.
StockTwits is essentially Twitter for merchants, and anyone familiar with Twitter will quickly learn how to use StockTwits.
Members share short information relevant to specific actions and then use cash tags to link their posts to those actions.
Then, other members can use a variety of tools to navigate those posts and find information that is important to them.
Traders who have experience with online trading forums will find StockTwits acts as a similar source of information.
But everything is much simpler and geared towards providing extremely concise and relevant information that is largely directly actionable for trading.
This is in contrast to much of the content on online trading forums, which tends to move from actionable information to broader, more general discussions.
The StockTwits app was quite easy to use and offers the same information as the desktop version.
StockTwits offers a variety of very useful tools for navigating through the massive number of posts that we post every minute of every day.
Users can sort news by specific stocks or sectors, find the latest trends, search for bullish and bearish stocks, and much more.
The message flows are dividing into the following sections:
- Private company
Particularly popular is the “heat map” feature, which allows users to compare a large number of stocks based on their activity and market sentiment.
The ability to navigate StockTwits quickly and effectively is one of its most popular features and is widely recognizes in the trading community.
StockTwits and Robinhood Functionality
A few years ago Stocktwits partnered with popular discount broker Robinhood to create cross-platform functionality.
If you choose to enable cross-platform functionality.
Ycan seamlessly switch between trading actions on Robinhood and discuss them on StockTwits.
It gives traders the opportunity to trade Robinhood and at the same time access the latest information StockTwits has to offer.
StockTwits as a Source of Information
The problem of evaluating StockTwits as a source of information for traders.
It depends on the perceived value of the financial news and ideas shared on the platform.
Very few people have a negative experience browsing StockTwits or looking for information on stocks or topics that interest them.
Rather, the negative feedback StockTwits receives from its users relates to the actual content that we share.
Stocktwits is largely unregulated or moderated, so it is up to the individual user to determine for themselves what information they want to use and what information they ignore.
While it is undeniable that Stocktwits contains very valuable information from reputable contributors.
It is undeniable that it also contains a lot of misinformed, selfish, or downright malicious, and a tracking gantt chart information.
This need to check Stocktwits information before using it is the main complaint that users of the platform have.
Many merchants would prefer more traditional sources of financial information.
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