Qiao Wang Profile picture
23 Nov, 4 tweets, 1 min read
If you are new to crypto, start with the 2008 classic - “Bitcoin: A peer-to-peer electronic cash system”.

bitcoin.org/bitcoin.pdf

It’s OK if you don’t understand all of it. Neither do I. But I think it’s the best way to start your crypto journey.
If you want to learn more after that, try to understand why Bitcoin is digital gold. Here’s a good resource: casebitcoin.com/bitcoin-is
If Bitcoin as digital gold doesn’t make sense to you, dabble into Ethereum/DeFi instead. Actually, do that either way. If you are someone intellectually curious, at least one of the two will make sense to you IMO.
Learn as much as possible before you put significant amount of money in these volatile assets. Because if you don’t I guarantee you will sell too early.

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More from @QwQiao

24 Nov
An educational thread on "TWAP", a term you may have seen a few times recently. What is it? How does it work? Why do institutions use TWAP algos?
TWAP stands for "time-weighted average price". Basically, the average price of an asset over, say, a day. A TWAP algorithm is an algorithm that sends orders of similar size at regular cadence, in order to match the time-weighted average price over a given period of time.
Like this guy who spammed Coinbase with orders of $194k this morning every minute or so.

h/t @CL207 Image
Read 7 tweets
24 Nov
XRP is the real future of finance as every bank is using it to provide instant and secure cross border payments for their customers.
XRP is actually also an algorithmic stablecoin that has taken 3 years to move back to $1.
Janet Yellen announced her plan to adopt XRP as the reserve currency of the US after being appointed the Secretary of the Treasury by Biden.
Read 4 tweets
23 Nov
“There won’t be another BTC bear market in our lifetime.” - Janet Yellen
Don’t believe everything you read on the Internet.
Anyway back in 2017 Yellen famously said she doesn’t expect another financial crisis in our lifetime.
Read 4 tweets
21 Nov
XRP and LTC are leading BTC higher.

/s
It doesn’t matter how great the fundamentals your favorite alt has. Lead-lag relationships in markets don’t work like this. It’s always the liquid that drives the illiquid. The higher marketcap that drives the lower low marketcap.
One of the theoretical reasons is wealth effect. When the largest holding in your portfolio goes up 10% you feel richer and you buy other stuff. When the smallest holding goes up 10% you feel nothing. The biggest holding of “market portfolio” is BTC.
Read 4 tweets
19 Nov
Instead of watching in disbelief boomer institutions buying #BTC, here’s a narrative that the Ethereum crowd should consider rallying around and pushing for: “ETH - a call option on a parallel future financial system.”
These boomers all went through the rise and fall and re-rise of tech stonks. They wouldn’t want to miss even just a 10% chance of something big. Especially finance.
Bitcoin used to be called a “call option”, but it no longer is. It’s mature enough to potentially rival gold. But a “call option” is perfect for Ethereum currently. It’s young, vibrant, and risky. Calling it a “call option” shows humility, that you understand the risks.
Read 4 tweets
14 Nov
Observation: there's one asset that's shaping to be the Schelling point of DeFi.
- Fastest horse in arguably the important sector of finance -> being integrated everywhere
- Early adopters made rich -> strong community
- Little early investor sell pressure -> possible sell-side liquidity crisis
- Healthy amount of hype -> reflexively attracts capital/talent
Not financial advice. Not schilling. Just an observation.
Read 4 tweets

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