๐คก thoughts on Binance vs. SEC
1. From trough to peak, $BNB did a 17,000x ($0.039 to $686). Just an absolutely epic 4-year stretch (2017 to 2021).
2. If I had to pick a flag signaling the beginning of the end of the crypto bear, this would be it.
๐งต๐
Random ๐คก thoughts on the $LUNA meltdown
1. People like to act like LUNA investors were low IQ, but most knew the risks. Iโm realizing in retrospect that might not be the case for a lot of UST buyers, which sucks. Clown โค๏ธ goes out to them.
2. Some call Anchor a ponzi...
๐งต๐
I'd be lying if I said the approval of a
#bitcoin
spot ETF didn't make me emotional...
I can't quit thinking about Satoshi, Hal Finney, Ross Ulbricht and the countless others who gave up their identities, lives or freedom for this vision... a vision of a world with two forms ofโฆ
If this is the beginning of a bull market, it could be the biggest bull market in the history of bull markets
Now, bear w/ me...
I'm not going to pud off and start talking about
#bitcoin
as "Gold 2.0" or
#ethereum
as a "world computer"
No, let me tell you a secret...
More ๐
A raw, glistening ELI5 thread on $SUSHI
(Alternate title = Sushi chef murders multiple VCs)
To understand Sushi, boy, you must understand uniswap
Uniswap is a decentralized exchange (DEX). You can think of it like a vending machine.
More ๐
My first 100x in crypto was a 4-year-long buy and hold
Sometimes, outperformance is just a pitbull-like ability to clamp down no matter what other shiny things may flit before your eyes
I heard about $ETH for a year before I bought any.
I heard about $SNX for months before I bought any.
I heard about $RUNE for weeks before I bought any.
I heard about $YFI for days before I bought any.
I heard about $SUSHI for hours before I farmed any.
More ๐
๐คก thoughts on Visa + $Ethereum
1) The ground trembleth under mine feet
How much bigger of a news event can we possibly get? This is the beginning of blockchains becoming the de facto settlement layer for EVERY transaction of any value whatsoever moving forward
More ๐
The vast majority of people think they can beat the crypto markets even though they're something like a full-time dentist and they play squash twice a week and they have two kids and a wife and they get about 30 minutes a day to study crypto
More ๐
Someday, people will say we were in the right place at the right time
Theyโll say we got lucky
If they want to think we live charmed, god-like lives, thatโs fine
But the truth is we came when all the world thought we were mad
We stood when all the world stayed in their chairs
The most amusing thing about a bull market is you can be making shitloads of $$$ but still feel like a loser bc your shitloads arenโt as growing as quickly as some other a-holeโs ๐
1/ The beginning of bulls are the best, sers... it's like going out on a Friday night and having that first beer. There's a lil excitement and pheromones in the air. You got your shades on even though it's dark outside. A hottie's checking you out and you're just...
๐คก thoughts on the SEC vs. Coinbase
1. The SEC looks outdated AF... like horse breeders in the age of the Model T.
2. The SEC rarely ever protects the plebs. It protects the powers that be (banks, tradfi and, most importantly, itself)... ๐งต๐
Sers, what a strange, wicked, beautiful journey crypto can take us mortals on
It appears we'll soon have a tradeable $DEGEN token
It will = a basket of 10 of the fastest-growing, most promising small cap tokens in crypto
& it will run on $NDX
More ๐
I feel the deepest pangs for the ones who look at crypto charts, see parabolas & say we're in a bubble
they don't realize they're looking at charts that shouldn't exist
More๐
Are you an $ETH lover who feels disgusted by growth outside of $ETH?
I say youโre focusing on the wrong thing
5 years from now... maybe less... most people won't give AF what chain anything is on
Theyโll buy your $ETH on Polkadot
Or maybe even a $BTC sidechain
More ๐
A fren just asked me about the preparatory steps I'd take for upcoming bull market... Here's what I said:
Preparations for me are really honing in on my mistakes in the last cycle and avoiding them.
7 things I did wrong: ๐งต๐
Where does all this lead, my frens?
A ๐คก just flew across the country to buidl w a tiny group of crypto anons heโd never met in person
I still donโt know their names
they still donโt know mine
Our plan was crude and dangerousโฆ
๐
Ever wondered how people discover tokens before they hit Coingecko and Coinmarketcap?
Mostly they have scripts that track big
#Ethereum
wallets
You used to have to be a coder yourself (or at least know one) in order to stay on top of what the ๐ณs were buying / selling
More ๐
1/ BRC-20s will forever remind me of two things:
1) Experimentation trumps logic
2) F your little ego, redphone
A short tale on the origins of BRC-20 and how they've changed what I thought I knew about crypto ๐งต๐
1/ We spend our waking lives accumulating money
That money isn't a number, medium of exchange or store of value
It's a vault for captive "lifeforce"
To fill the vault, we must give away mental or physical energy -- burning our very vitality
In exchange... ๐งต๐
Beyond the obvious like $BTC + $ETH, a few faves:
$LUNA = unstoppable stablecoins for every fiat on ๐
$LINK = the deep & rumbling voice of TRUTH
$YFI = the perpetual yield machine
$AAVE, $COMP (soon $MARS) = unstoppable credit markets
$RUNE = the freest marketplace known to man
One of my big conceptual shifts for 2020 was fully accepting
#Ethereum
$ETH as a "global settlement layer"...
That's a lame ass phrase but I think it's true
Ethereum is becoming the deepest, most liquid market for ANY asset... any form of value
1/7
The future is utterly and entirely undecided
it does not happen to us, we happen to it
you can sit on your ideas, wishes and dreams
you can risk nothing
you can change nothing
or you can buidl, right fucking now
& possibly change it all
If you are not shaken after today, I do not know what it would take
Total MC down nearly $1 trillion over eight days
Now, we question everything
When I was younger, I would have been sick
atm, I feel the slightest tinge of excitement...
๐
tldr: this could be it, my frens
this could be the cycle that turns that skeeter into a golden fire-breathing๐ฒ that burns all of modern finance to cinders
Ask me what I'm doing with my portfolio now + I will say unto you fuck me, I'm long
& fuck me my hands are strong
๐คก out
Dear bankers and TradFi execs,
Look to your left. Look to your right.
Many of your employers wonโt be here in a decade.
Theyโll go bankrupt, get acquired, or perhapsโฆ theyโll be one of the few that evolves rapidly enough to embrace tokenization and end up thriving.
Fink, ofโฆ
Thereโs a reason we donโt have a perfect decentralized crosschain swap platform yet
Itโs hard AF
If anyone can solve it, the
@THORChain
community
Still long $RUNE
There is no better zen practice than trading
To make $$$ you must do the things lesser traders can't
Sell green candles
Buy red candles
Ignore ripping cryptos
Buy temporarily forgotten cryptos
Trading = war with others
+ war with yourself
Dog him all you want, but there aren't many humans willing to take on the govts, regulators, and bankers in such a hellish and opaque regulatory environment. Whatever happens, there's a throne with his name on it in the crypto pantheon.
Here is my secret mental map for the next bull market in crypto...
(Alternate title = Why as I'm long
#DeFi
with diamond hands)...
1. We are early in the DeFi bull. I didn't realize how early until I saw this interview with Chamath.
Thread alert ๐
1/ Random ๐คก thoughts on the explosion in telegram bots (+ tokens)
No. 1:
Feels like a new trading โprimitiveโ that could end up everywhere (ie not just crypto but gambling, stocks, options, etcโฆ why not be able to execute a stock buy at the end of a killer tweet thread?) ๐งต๐
BSC has set the dark forest on fire
The urgency has returned
No one has to say it
For all the forest knows
It's time to fucking buidl sers
It's time to fucking rise
We are not normal, sers
We like to think the masses are coming (and they are), but the irony is they'll never be like us
For crypto to truly be successful, no one should need to know what a private key is... or a blockchain or AMM
For us to win, our knowledge must be hidden
1/ DeFi was never the end game... it merely enables the end game
Breakout apps like rollbit, friendtech, tgbots, etc., are proof crypto is exiting the infra/build-out/DeFi phase to enter the "app" phase ๐งต
Sewer rats are squirming, crawling through the gutters w little pink noses snuffling about for any scrap of hope. Here it is: 3 catalysts for the next bull run in crypto:
1. Liquidity gush
2. Pink swan app
3. Rubberstamp cycle
tldr on each... ๐งต๐
Hello, crypto gods, are you listening?
It's me, redphone & I have a confession to make...
Ohhh gods, I love synthetic stocks...
to me, they = freedom + fairness + a rung on the ladder to prosperity
They're everything a traditional stock isn't
(more ๐)
send my portfolio to zero
nuke it all to dust
and I'd still say thank you
for the first and only time in my life, it let me taste true freedom
and I've never been the same
I donโt consider transparently subsidizing legitimate yield (from PoS assets + borrowing) to be a ponzi.
The fact is, Anchor was one of the greatest onboarding tools crypto has ever seen (for better or worse). It was simple to use.
๐คก musing on the bitcoin ETF hopium:
1. Bitcoin has its whales, but they're 15-ft narwhals compared to TradFi's 90-ft blue whales
Blackrock could finally allow us to siphon off some of that sweet blue whale cheddar in a big way (pension funds, ret. accounts, 401ks, etc.)
๐งต๐
Tech executives and engineers are quitting Google, Meta, Amazon and other large companies for what they say is a once-in-generation opportunity with crypto.
There are but two ingredients by which one should judge all long-term crypto projects:
- subtraction of power from the elites
- addition of power to the people
- Multi-trillion-$$$ stimulus package inbound
- Facebook Diem
- Paypal merchant program
- US banks given greenlight to use crypto rails
- Censorship at generational highs in "land of the free"
... seems like a great time to sell
1/ Many hoomans think $ETH will hit $10k someday, but how many are willing to put their monies where their mouths are?
A new protocol that just launched its bootstrap phase is going to find out ๐งต๐
Every mistake, every bad trade, every conversation, every tweet, every discord, every conference, every NFT, every DAO, every time you refuse to quitโฆ brings you closer to the day you find yourself โin the right place at the right timeโ
at that very moment...
I've always struggled to understand $LINK's tokenomics
but I learned long ago there is no tokenomics system that can't be changed
usage and integrations trump all, and $LINK is the undisputed oracle king
it's success is far from guaranteed, but ignoring it now is not the way
For 12 years, the builders have been building
For 12 years, the money-printers have been stealing
For 12 years, the believers have been teaching
For 12 years, weโve laid the ready kindling
And today the fire has begun
1/ ๐งต w/ very brief history of Silk Road, how it impacted me + why I'm joining
@freerossdao
...
First, Ross Ulbricht
@RealRossU
= a true chad
He didnโt really know how to code when he dreamed up the Silk Road
He just bought a book on programming and started building...
We are officially launching
@FreeRossDAO
๐, an open community aimed at buying Ross Ulbricht's NFT collection and funding the mission to
#FreeRoss
and fight for prison reform.
freerossdao.eth
Letโs save a life ๐
If & when a spot
#bitcoin
ETF is approved, it's going to mean more than number go up to me...
1. It's technology changing the world no matter how badly some want it to stay the same
2. It's the end of crypto "career risk"
3. It's closing the chapter on SBF
4. It's... ๐งต๐
1 year ago,
@AndreCronjeTech
gave up complete control of Yearn
+ with it, $1 billion worth of $YFI tokens
He saved no special tokens for himselfโฆ
There were no VC investments or whitelisted presale addressesโฆ
There was simply the gift of code
๐งต๐
Today we invite you to celebrate the first year of Yearn with The Blue Pill, a spiritual guide for the past, present and future of Yearn. A beautifully-typeset book is available to our 13,500 most loyal supporters.
Honestly think $LINK is one of the most undervalued/neglected tokens in crypto rn. If they onramp institutions, it could be the rails for trillions in RWAs.
In a recent Chainlink investment research paper -
@Ripple
$xrp Business Development team member Paul Chen wrote:
"The DCF analysis, including the terminal value, suggests that $LINK is insanely undervalued, with an implied price of $5,700 compared to a current market price ofโฆ
The world needs
@thorchain_org
to succeed more than anything in crypto right now
If it does, it will be humanityโs greatest step forward since the launches of bitcoin and Ethereum themselves
5/ Work hard to get over yourselves. The ones who will come out of this cycle the wealthiest are the learning machines... the ones who stay open and attuned... the ones who aren't afraid to buy when buying is the scariest.
That's it.
Love you all, you fucking bleeding edgers
Have had the honor of contributing at Yearn
@iearnfinance
$YFI recently. A few revelations:
1) Anonymity makes us stronger. Some Yearn contribs get annoyed when you reveal personal information (like "I teach at MIT" or "I just got my braces off")...
๐งต below
Companies = a collection of people oriented around profits
DAOs = a collection of people oriented around passion
Companies = soul-draining
DAOs = soul-enhancing
Choose wisely
If crypto has taught me anything, it's that all of life revolves around incentives
Another word for "finance" or even "money" could simply be incentives
The deeper you understand that (& learn to think about your own psychology/incentives), the more $$$ you'll likely accrue
At some point in the coming months/years, we're going to see a generational buying opportunity. We all know it, but only some of us will actually have cash when the time comes
Be one of them
First graduate from $DEGEN = $RUNE
It's now worth $2b+
Per the plan, that means it's time for the community to replace it with a smaller, more degenerate play
Welcome $RGT
@RariCapital
hi
@redphonecrypto
, I think you have at least one >2B project in your
@ndxfi
$DEGEN index ;) (congrats
@THORChain
$RUNE !). are you planning on removing it from the index at some point? I understand 2B was the threshold, right?
Close to unveiling the design of THORFi debt markets.
Borrow against your yield-generating, IL-protected LP shares and withdraw real layer-1 assets.
Eg: withdraw USDT against BTC LP units, buy a Tesla, lease on the self-driving network, pay back loan, keep your BTC.
Winning.
3 things on my ๐ง
1) The people are just as important as the mission statement
2) We are the luckiest MFers in the history of the world to have the knowledge we have inside our heads at this precise moment
3) We only have one go at this life, so let's have some MFing fun ๐ป
When I started my anon journey on CT 6 mths ago, I knew few souls who could comprehend the things I think about 18 hrs a day. I found you fers now & I love you
May the year ahead bring us all health, love & some reasonably sized houses with stoic but humorous butlers
Happy ๐
Here's one ๐คกโs take on why
@astroport_fi
is one of the most underrated projects in crypto and -- full disclosure -- why I'm contributing to it & participating in the lockdrop
๐งต๐
Sers, the results are in
May I present to you the official $DEGEN10
These are the Top 10 tokens (excluding $BTC and $ETH) that many of the most diehard crypto OGs think will dominate in 2021...
More ๐
1/9
Degen 10, anyone??
You're cordially invited to join me in the Degen 10 Index
DM or respond here with your Top 10 picks for 2021
I will build an index of the most common 10 picks and track them on a reg basis (prob monthly)
1/3
1/ One of the hardest tasks for long-term crypto investors is mentally "rebasing" our expectations on market caps.
Even during the darkest days of this bear, we barely dipped under $1 trillion total market cap for the industry... ๐งต๐
6/
this I know...
crypto has changed the capital formation game...
& that means it has changed the charts in those fancy college ๐s
all who understand shall lap at honey
all who understand shall confiscate $$$ from ones who don't
7. Terra's UX was genuinely amazing. Wallets, bridges, swaps, thorchain integration, etc. Felt like it was 2 years ahead of a lot of other networks I use. Every day across the industry, UX is improving dramatically. Hope other chains take lessons from Terra.
Massively hyped massively oversubscribed launches could be the worst thing to happen to your project
I stay tf away from them even though it means I've missed out on some gains
Would love to see more small, boutique launches that quietly accrue users thanks to true PMF
1/ Have been at this game a long time (decade+ in crypto) and this is the first time I've EVER been actively longing volatility and $BTC simultaneously
Feels exhilarating but tbh a bit scary ๐งต๐
Stock and forex traders donโt pretend theyโre โchanging the world.โ Why do crypto bros think they are?
Our religiosity turns off normies, makes us look like tools
But Iโd argue anyone who doesnโt have similar feelings about crypto doesnโt truly get it yetโฆ ๐งต๐
All that said 2019-early 2021 was the most insane and fun time of life. I'm just thankful to have been able to be a part of it and I hope I get to live through many more cycles.
Deciding you want to innovate in crypto is deciding you're ok cutting out some of your entrails with a rusty saw ๐ช
CZ launched Binance in 2017... took it from 0 to the world's largest exchange in 180 days
It was like crypto catapulted a decade into the future... 1/6