Mark Cuban Profile picture
2 May, 8 tweets, 2 min read
Crypto succeeds when it's a more productive implementation of it's competition. BTC/Gold are both financial religions. BTC is easy to trade/store/create with no delivery issues. BTC also enables transfer of value locally and globally . Gold is a hassle. Just look at Ft Knox
Eth Smart Contracts are better, cheaper, faster at authenticating/buying/selling/delivering digital items than alternatives available. This makes it a viable currency and trading mechanism for all things digital. That's powerful and will grow as applications are added
Eth Smart Contracts for De-Fi are better at enabling depositing/saving/trading of financial instruments than banks. One is automated and trustless and near immediate. The other is dependent on buildings full of people who add cost and friction to the same transactions
Where alt coins can offer rewards to their holders because they gain revenue for the more productive service they offer, they can succeed with enough users. It is VERY COMPETITIVE. Barriers to entry are minimal. Which is the risk to all participants. But rewards better solutions
Meme coins like Doge only work if they gain utility and users use them for that utility. As long as you can spend Doge , because we know it's annual inflation rate is set at 5b coins, it can gain SOME value as the utility grows. It becomes like any other currency...
As long as more companies take doge for products/services, then Doge can be a usable currency because it MAY hold its purchasing value better than a $ in your bank. If interest rates skyrocket or the amount spent falls or stagnates, so will Doge. Yes, a joke is now legit
Crypto not just about being more productive and effective, but also no longer dependent on "trusted institutions" Ask PPP applicants how much they trust their big banks? Do you trust your health insurer?. Crypto is trustless and a better way to handle many transactions.
So when someone says they don't get why crypto assets have value. Show them this.

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More from @mcuban

28 Apr
Let me help you. L1 and L2 based chains are deterministic, programmable platforms that can be used to create applications that can increase productivity. Their "coins" provide the ability for coin owners to benefit from the value created. Not all will succeed but many will.
NFTs for digital collectibles are an example of an application, as are smart contracts for weather insurance are an example, DeFi to allow anyone to be a lender or a borrower in minutes,
, buying off-chain products with on chain assets, the applications will only grow
If you look at crypto assets whether eth, doge, btc,mkr etc and only see something intangible for people to trade, you haven't really looked. If you see smart contracts and programming languages and think of new ways to disrupt industries then I'm saying there's a chance
Read 6 tweets
18 Feb
The problem: Brokers trade at the speed of light, but settle trades over 2+ days. This can happen again. Co-ordinated traders can hunt better capitalized platforms and make $gme style buys. Solution? Blockchain. @InjectiveLabs @mirror_protocol others

While blockchain is the best long term solution, in the interim the solution 1 is to require stocks to be held for at least 1 minute.We need to decide what the purpose of the markets are: is it to raise capital and allow ownership or for machines to extract $$$ from investors
We also need to have stress tests and liquidity transparency for all brokers. The customers of RH etc should have known their broker's liquidity limits were being reached and the consequences of that issue (ending buys).
Read 4 tweets
30 Jan
Fidelity has 31m brokerage Accts and charges $0 for stock trades. If they sent out a text from an analyst with a big price target on a stock , is that manipulation ? If you want to help the workers, incentivize companies to offer shares to ALL WORKERS
Just think how happy the people who do the work would be if they had shares to sell into these short squeezes! Yes the SEC needs to investigate to see if this is a coordinated pump and dump. But the SEC is going to be useless on this and every comparable type situation
As much as you have had your heart in the right place to improve consumer protections you and your peers have allowed the SEC to continue to be a joke. This isn’t the first time something like this has happened. It’s gone on for years. The SEC could write bright line regulations
Read 6 tweets
29 Jan
Lets talk $GME shorts vs De-Fi. When someone shorts a stock that is already heavily shorted, they have to pay a fee to borrow that stock. In the case of $GME that fee has been hovering around 30% this week. Shorts have to pay (Price x .30)/360 per day. In DeFi thats a 30% APY.
For RH Traders that own $GME that money, as best I can tell, is held in street name. Which means that 30% APR goes 100pct to @RobinhoodApp 😬😬😬. Imagine if you pooled your crypto and the platform was getting 30% APY and didnt pay all but fees to you ? What would happen ?
This is one more way that Wall St takes advantage of the little guy. If you are moving from RH, look to see if you can find some place that allows you to hold the shares and lend them in YOUR name, so you get the Yield (Yield Farming in stocks !). Not all will allow it.
Read 8 tweets
31 Dec 20
What we learned in 2020? This country can't efficiently deliver Food, Cash or Care to those who need it.
We need required Direct Deposit accts for cash Deposits. Mailing checks for stimulus payments based on IRS info is crazy. These accounts should be supported by all digital payment systems without fees.
This account can also be used to support existing Gov Debit cards and provide funding for care and food
Read 4 tweets
14 Nov 20
This is a generalization, but it seems like Reps feel like no one will give to their candidates so a food bank is a good choice. Dems get angry and think they need every $ they can get to win. No one seems to just trust the voters to decide for themselves
And then there are us independents who think that both parties care more about power than listening to voters.
And then there are the progressives who think no matter what I say it’s wrong, simply because I’m rich. Even when I say we shouldn’t listen to the rich or powerful politicians , we should ask voters what they want , I’m wrong. But they know they are right all the time
Read 6 tweets

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