Thread by @RaoulGMI

Final crypto comment for a bit:

Tokens are just real-time trading VC bets. If you owned early seed investments with real-time mark to market you'd see the exact same. 80% go to zero, 19% add value and 1% make all the money. Real time marks freak people out.

If you real time marked any VC investment you see it go to near zero numerous times (for Real Vision, probably 6 times). The value comes from adoption and eventually revenues as business models adapt.Most dont survive, its normal and is capitalism.

Thinking everything is a scam because its not BTC is simply ludicrous. It is like taking a snapshot of early VC bets and writing everything off as a zero because its not Google.

Apples and oranges.

The actual money is in the numbers game - Pareto's Law.

When you are far out on the risk curve, time horizon and diversification matter more than anything else. Closer toward the safety curve, where you have more security, offers lower returns generally but concentration helps increase those returns.

So few people in the crypto space yet understand liquidity preference, time preference and risk preference and how they interconnect.

I'll write this up when I get time as its so important.

Nothing wrong with sticking with BTC or ETH. That is my bet too for now. Over time I'll go out further on the risk curve.

I will have the same bet in emerging markets. First, time preference, $EMM once confirmed will give me that, then I'll increase risk preference.