Do you want to know the absolute worst people in the world to talk #Bitcoin with?

Bank tellers are pretty bad. They're so beat down by compliance and rules and regs that they think EVERYTHING that doesn't involve reams of paperwork and identification documents is a scam.

1/x
But no. I get where they're coming from. Their experiences are valid

Maybe you're thinking it's the friendly investment advisor at Edward Jones

tbh they seem to be warming up to crypto (I think we can thank the millennials for shoving it like hot dogs down their throats)

2/x
No, the worst people I've ever tried to talk crypto with are econ professors

They get this smug fucking look on their faces like I'm fucking peon with no "credentials" who would deign to talk them about something they've pigeonholed as a ponzi

3/x
Now, normally, I could give two shits about someone thinking I'm an idiot for buying crypto... but I've always had this liberal arts-fueled belief that economists and profs should be intellectually curious

Maybe they'd want to ask me a question about crypto?

4/x
Maybe they'd want to read the bitcoin whitepaper?

Maybe they'd be curious why the amount of $$ locked in decentralized finance is doubling every 90 fucking days?

5/x
If you're in the field of economics + you haven't taken a deep dive into crypto, you may as well have yourself photocopied and turned into a cardboard cutout. Get a tape recorder mounted in your back. Then, press play when you're forced to talk to us idiots about finance

🤡 out

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More from @redphonecrypto

21 Nov
One 🤡's ELI5 on $SYN

Explain it like I'm 5, ser

Wtf is @synlev $SYN and why are you so bullish on it?

Synlev = Uniswap with leverage

More specifically, it's bringing leveraged ETFs or ETNs to crypto

More 👇
Hmmm

Ok

Tongue pressed to the back of my teeth

I am mildly titillated, but I don't know what a leveraged ETF or ETN is because I am not in the top 10% of America that owns 92% of the public stocks

OK

ETF = exchange-traded fund
ETN = exchange-traded note

2/x
Essentially, an ETF or ETN is a tradeable stock

Each share = a market

i.e, there are ETF shares that bet on the price of oil ($GUSH)

or the price of gold mining stocks ($JNUG)

They can get more exotic, too

$UVXY for ex. tracks the volatility of the stock market

3/x
Read 25 tweets
20 Nov
George Soros gifted the world the concept of reflexivity in the stock market. It's 10x more important in crypto.

Here's the basic concept:

Stock price changes reality

What, ser?

Price creates a feedback loop

More 👇
If stock = going up, it brings the company acclaim.

Company gets noticed. Sales increase, profits grow. Stock prices increases.

Rinse. Repeat.

The same happens in reverse.

Price craters. People sneer at mention of company's name. No one uses product anymore.

2/x
Sales decline, profits fall, stock price craters further... further... f me... further.

Reflexivity is even more important in crypto for lots of reasons:

- Price can literally impact the quality of the product (i.e. high $UNI price = more liquidity)

3/x
Read 9 tweets
19 Nov
Why ser are you so enamored with crypto derivatives? Is it just KYC, you dirty degen?

KYC (and the fact that crypto derivatives can't be shut down) is a huge ideological reason for me. But there are other benefits, too

👇
2/

- On-chain verifications, so you're not depending on a broker
- 24/7/365 markets
- Powered by smart contracts so with a hardened system there shouldn't be outages (we're some time away from that perhaps but it will come)
3/

- Product selection: if you can dream you can build it in DeFi and your audience will be global... no more walled-off, segregated islands of liquidity
- Composability might be the biggest reason, though: imagine posting a synth as collateral for a loan, for example...
Read 6 tweets
19 Nov
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 👇
2/

But sure, they've read @benmezrich's Bitcoin Billionaries. They listen to @APompliano's podcast. They understand blockchain

That means they can compete with the OG 🐳s who've owned $BTC since Gox died + still spend 12 hrs a day reading, learning + experimenting in crypto
3/

It's especially laughable when that sort of person thinks they can short-term trade. Like the right entry and exit points are always between 9 p.m. and 10 p.m. on Thursdays when they actually have a minute to look at the markets lol
Read 12 tweets
17 Nov
The bulls are flexing in the street

Has the mother of all rallies begun?

Hell if I know

But if it has, let me tell you this: what's about to happen just might defy belief

Bull markets are full-body experiences....

More 👇
During the last crazy run-ups (2013 + 2017), I checked my phone like a gd slave. In December 2017, it was weeks of my positions going up double-digits every 24 hours. I'd check my phone before I walked into the store to buy some bologna....

2/x
By the time I walked out I'd have some good ass bolgna + be $10k richer. I'd watch an episode of Silicon Valley... check my phone... $10k richer

I'd log into Binance like a kid running around at the arcade with a bucket full of quarters. Just throwing money at stupid shit

3/x
Read 11 tweets
15 Nov
If I had to name the most important event in crypto in 2020, it would hands-down be the triumphant climb of Uniswap to the peak of Mount Olympus

What a fucking demigod

$14 million locked 1 year ago. $2.88 billion locked today. Growth of 20,000% (@defipulse)

More below 👇
$UNI is generating more daily fees than #bitcoin ($1.2 million vs. $905,000)

cryptofees.info

2/x
$UNI trading volumes have outpaced Coinbase some days... and Binance ain't all that far away

@TheBlock__

3/x
Read 16 tweets

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