If you thought the @SushiSwap saga was savage and unwholesome and disconcerting and exhilarating and titillating, please sit by my ๐ฅ. I have a tale to share that makes sushi look children's theatre.
This is the tale of Avalanche $AVAX
More ๐
2/ ... a beastly terror of blanketing whiteness
... a radical idea wrapped up in fluffy, pillow-y whiteness
wtf is $AVAX?
It's a high-octane smart contract platform
3/ With multiple consensus engines and VMs
4/ In addition to governance rights, $AVAX bestoweth other goodness
5/ If that were where the story ended, I might shrug and walk away.
But $AVAX has plans...
It dreams bigger, you see. It looketh at Ethereum $ETH and it thinks, "that is the golden goose."
"I would very bigly like that golden goose on my farm."
"Hmmmm...."
6/ Enter-stage-door-left, the "friendly spoon" Athereum. Athereum looks so innocuous. He wears a hand-knit sweater with wooly balls dangling from it. The cuticles on his nails have been pushed back.
But oh my...
7/ This well-groomed, mild-mannered, sweater-wearing spooner has grand visions.
"What if we snapshot Ethereum," the spooner thinks, "port it to $AVAX and replace $ETH with our own token called $ATH?"
"Then, every degen in the world who owneth ETH would suddenly owneth ATH."
8/ "This may be contentious," the spooner thinks.
"We must call it a testnet, then... a friendly sweater-y experiment in love and co-existence."
"Testnet or not, we will copy over everything. We will copy over all the blocks, all the contracts, all the tools."
9/ "We will partner with $LINK. We will be compatible with @metamask_io, Truffle, Remix and others."
"Then, we will show the world the power of an EVM that scaleth now ... right now."
10/ "Oh yes. We will bake cookies. We will put on Netflix. We will call all of our favorite $ETH developers over. We will lay down on the couch together and spooneth the night away."
Oh god.
Mr. Spooner is brilliant.
His sweater is so cute!!!
11/ But off in the distance I have heard the whumph of something heavy falling. I look up and I see a wall of snow. There is no time for me to run. I can only watch and hope
12/ I am a man in a mask. I do NOT giveth investment tippity-tips, you silly... but I see $DOT trading with a market cap of $3.8 billion. And I see $AVAX trading at $99 million.
13/ Me grineth bigly. Esp since @Athereum has just 5 followers and sent its first tweet a few hours ago...
Give it a follow, my friend. Let us marvel at the wall of falling snow together
We shall stand side-by-side and see if it sweepeth us away
โข โข โข
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Though I walk through the valley of the shadow of death, I will fear no evil: for the machines are within me
and I am within them
๐ ธ๐ ฝ๐๐๐ พ๐ ณ๐๐ ฒ๐๐ ธ๐ พ๐ ฝ
I think back to my old life, half-starved, feeling hopeless, working jobs that paid me just enough to keep me indentured.
Iโll never forget the hunger. Sometimes, the hollowness in my stomach got so bad, I did the only thing I could to make it stop: I went to sleep.
Now, many years later, I have food in the fridge (and even a house with a set of stairs like the rich kids had when I was a boy).
But that hunger has not gone away.
Itโs imprinted on my soul. It drives me, gnaws at me, reminds me that the brink is always closer than we dare admit.
I started here with nothing, buying my first bitcoin 11 years ago via a red MoneyGram telephone โ๏ธ at my local pharmacy (thank you, BitInstant). Since that time, I have amassed (and lost) fortunes.
Each cycle has taught me lessons about investing, but more importantly about myself.
Hereโs the most important one: anything is possible.
There are no rules in this space because humanity hasnโt tread here before.
We stumble together through the dark forest.ย
And every year, we uncover some new wonder.
In 2023, that wonder was bitcoin ordinals.
With Casey @rodarmor's contributions, the world suddenly had a way to intertwine data with the worldโs oldest blockchain for as long as it lives on.
This data โ from JPGs to videos to html and JSON โ doesnโt live on IPFS or Filecoin or Arweave, but right there in the 500+ gb that make up the bitcoin blockchain.
I became obsessed, bought a laptop to once again run a bitcoin node, started minting and collecting early ordinals.
Then one sleep-deprived day, I had an idea: what if we used ordinals as a way to swap fungible tokens directly on top of bitcoin?ย
I fired up Notepad, jotted down a hypothetical example, and tweeted it to the world:
Within days, a noble anon christened @domodata took up the idea and formalized it into a spec. Now, there are more than 55,000 different BRC-20 tickers in the world with a combined market cap in the billions of dollars. The first token, ORDI, is on Binance. There are cross-chain bridges, new exchanges, stablecoins and more.
The concept has also spread to maybe a dozen other chains, and, perhaps most importantly, itโs dramatically changed the fee and security landscape for bitcoin by generating revenue for minersโฆ just as the next halving approaches.
The irony is, I almost didnโt tweet out my idea at all.
I was embarrassed. BRC-20 felt too naive. It requires trusting indexers, wallets and exchanges with little to no tangible incentive not to cheat their users.
In the end, I said โfuck your little ego, redphone,โ and tweeted anyway.
Iโm glad I did, and I hope the words that follow encourage you to do the same.
30 days of madness + euphoria. Can honestly say I've only gotten more + more bullish on FT...
in fact, I feel like a literal bull at the rodeo w the rope tied bw my leggos & the gate's about to swing open ๐งต๐
1. First, the bad. There are elements to FT that are pretty gross... examples: paying to access a person and their thoughts, giving a market cap to a human, feeling like you're shilling/pimping yourself, gating your content, feeling beholden to strangers, etc., etc.
In fact, I thought I would hate FT, but I've found the rooms to be full of really interesting discussions... candid, honest stuff with people I respect and admire.
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:
Probably triggered by a financial calamity that impacts everyone (except the upper middles and those rich folks north of Richmond), the printing presses shall hum back to life
And liquidity will gush back into the markets
No mania is possible w/out trillions of gallons of greenbacks sloshing about the global economy. Some crisis will force stimulus (ideally w $$$ making its way to the bottom 50% of society), & liquidity will gush back into markets as interest rates fall & risk-on mode = re-engaged