Qiao Wang Profile picture
11 Nov, 4 tweets, 1 min read
I don’t know, I feel like this “double-digit shitcoin” is on it’s way to 4 digits.
Anecdotally, I’m just seeing more and more smart people from both TradFi *and* tech who are total noobs but fascinated by Ethereum and this new parallel financial system called DeFi.
Many of them got into DeFi because of Bitcoin. Many others got into Ethereum/DeFi because they don’t understand Bitcoin. Pretty interesting dichotomy.
Here’s why I’m bullish on ETH (which Arthur once famously called a 2-digit shitcoin). DeFi is the first credible Ethereum narrative. Too many newcomers are getting interested, but learning curve is steep. Literally a full time job. They have no choice but to buy ETH as proxy.

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More from @QwQiao

10 Nov
My first appearance on @RealVision where I spoke at 300 words/minute to try share almost everything I know about crypto in under an hour.

(I don't have a PhD barely finished my undergrad so that's a typo there.)
OK I know why it says "PhD" cuz there's a fake LinkedIn profile that says I have an applied math PhD from Buffalo. Bro, if I were to do a math PhD it'd be in pure math.
Read 4 tweets
9 Nov
The career risk is now to *not* have any exposure to BTC.
Read 4 tweets
4 Nov
A non-exhaustive list of DeFi products I'm excited about for the next couple years:

1) Synthetic traditional assets: provide access to high quality assets. Main challenge: regulatory.
2) Decentralized derivatives: on-chain perpetual swaps, futures, options, structured products, etc. Main challenge: will they be able reel in institutional liquidity?
3) Order book-based exchanges: with L2s and ETH competitors coming online, order book-based exchanges can finally scale. Main challenge: same as above, will institutional liquidity come?
Read 9 tweets
1 Nov
Assuming BTC doesn’t moon anytime soon, a -50% nuke is more likely than a +50% from here for DeFi IMO. After that we can begin a 2017-style bull market for the quality DeFi assets.
Make sure you screenshot this tweet if you want to dunk on me later because if I’m wrong I’ll make sure to delete this it.
(No I actually don’t delete bad market calls. I like use Twitter as my investment journal that I can revisit later to see why I got certain things right or wrong.)
Read 4 tweets
30 Oct
Excited to invite you all to the DeFi Alliance (@acceleratedefi) Liquidity Demo Day on November 10. It's an event where the dozen of DeFi startups in the our accelerator program showcase their platform to professional liquidity providers. List of startups below:
@AcalaNetwork : A cross-chain StableCoin platform based on Substrate

@loopringorg : A zkRollup based decentralized exchange

@perpprotocol : A decentralized perpetual contract protocol

@paraswap : A B2B DeFi aggregator
@tokenlon : A decentralized exchange based on 0x

@NotionalFin : A fixed-rate lending and borrowing protocol

@PodsFinance : A decentralized options trading protocol

@saddlefinance : A stablecoin exchange
Read 6 tweets
27 Oct
There's a lot of ETH bearishness recently. I'm also of the view that ETH will underperform BTC in the next bull cycle. But only slightly. And I want to explore arguments for why this thesis may be wrong, ie, why ETH could outperform BTC.
The pro-BTC argument goes: it took years for institutions to finally get onboard with the "digital gold" narrative. There's no way they'll get comfortable with ETH in this cycle.
What this argument misses is that there's also a significant % of the population who don't get the "digital gold" narrative, but are more comfortable with the "tech platform" narrative that ETH represents.
Read 8 tweets

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