SBF Profile picture
9 Sep, 8 tweets, 3 min read
1) Alright @stoolpresidente. Head of Crypto reporting. You wanna know how to think about crypto?

2)

You bought $LINK. You made a good choice, almost! LINK Marines are your people.

The problem is that LINK was already up, a lot: about 600% when you started.

The Marines were strong! But they'd already done their heavy lifting when you came. They were exhausted.
3)

But there are lots of other coins out there you'd love.

The last month crypto has been talking about food tokens: YAM, SUSHI, KMICHI, HOTDOG.

They're tokens named after foods, and you can also click a button to have them sit there, multiplying.

Welcome to Yield Farming
4)

Here's $SUSHI, the coin everyone's talking about today. It has lots of drama and backstory.

coingecko.com/en/coins/sushi…

Plus if you get bored you can stake it for more free SUSHI: sushiswapclassic.org/staking
5)

Or even better catch a food token when it's early. Here's $CREAM this week:
6)

But really here's the secret: choose any token that's popular and doesn't have a very large circulating supply.

For instance I'm involved in two tokens -- $FTT and $SRM. I like them both, obviously!

But you'll like SRM more.
7) See $FTT is a year old and doesn't move that much--something like 2% on a big day.

$SRM is a month old, and moves a LOT -- 1,000% on its biggest day! It also has a way lower circulating market cap.
8) So that's your answer:

a) choose coins that move a lot

b) choose coins that aren't at their peak

c) choose coins that have a low circulating market cap

• • •

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More from @SBF_Alameda

11 Sep
1)

On Valuing Tokens
2) NOT INVESTMENT ADVICE
3) My background is in arbitrage, and short timescale quant trading.

Tokens, stocks, currencies -- they're just tickers and prices; you buy at the lower price and sell at the higher price.

But over time I've started to hodl.
Read 19 tweets
9 Sep
1) well the migration is done; sushiswap is live

sushiswapclassic.org
2) someday someone might write a novel about this

someday we might learn who nomi really was

someday we'll find out what happens between uniswap and sushiswap
3) but today it's live, and the world can start to decide

and today we begin the transition to multisig control
Read 5 tweets
9 Sep
1) The Sushi Migration Plan
2) NOT INVESTMENT ADVICE.
3) In about 1 hour the migration will unlock; see sushi.zippo.io

There have been tests run of this; see e.g.
Read 13 tweets
6 Sep
1) Now that the Sushi key has been transferred, it's time to transfer control to a multisig of myself and Larry Ce...

Just kidding. Here's the actual plan (discord.com/channels/74803…)
2)

a) the old migration was tied to Nomi's key, so cancelling that.

b) replacing with an identical one tied to mine.

c) putting up a vote; if majority vote _against_ this migration in the next 12h we'll cancel it
3)

going to transfer control to a multisig.

If you would like to be a member of this, please comment on this post with "I would like to be a multisig key holder for sushi". We'll take the top 20 by likes, and have a proper vote on them.
Read 5 tweets
6 Sep
1) A way forward for Sushi, and a way further back.
2) Again, I am not sushi and am not involved in it. I do own some SUSHI and SRM. Not investment advice.
3) I'd like to lay out the ways that @NomiChef was a piece of shit.

a) they did huge damage to the sushi and defi communities

b) they could have held out for the long run and been a core leader of a prominent project. They could have gotten more than 5m SUSHI from that.
Read 16 tweets
2 Sep
1) Yield Farming, Sushi, and Collective Imagination:

The Emperor Has no Clothes
2) as always this is not investment advice. This is wacky town.
3) As I write this, one SUSHI is worth about $9.

Which is a lot, really: SUSHI is, in the weird mystical ERC20 sense, a unicorn.

So congrats @NomiChef!
Read 27 tweets

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