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Joe Weisenthal Profile picture
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18 May, 5 tweets, 3 min read
DAVID PORTNOY JUST... TWEETED IT OUT!

In today's @Markets newsletter, I wrote about how I've been talking about it for weeks, but by saying "if it is a Ponzi, get in on the ground floor" the Barstool guy just went and said it

Sub' to the newsletter here bloomberg.com/account/newsle…
@markets And as a reminder, here's what I wrote about back in April
@markets And just to be clear, not all decentralized exchange are pure nihilistic pump and dumps. Read our transcript with the founder of Uniswap here. bloomberg.com/news/articles/…
@markets Anyway! Sign up for the newsletter here. More stuff coming tomorrow. And it's still free bloomberg.com/account/newsle…
@markets Incredible. Listen to the 8:40 mark of the new @stoolpresidente podcast, where he says straight up:

"If it is a Ponzi scheme... I have no problem. Get in on the bottom floor of a Ponzi scheme."

stitcher.com/show/the-dave-…

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More from @TheStalwart

Joe Weisenthal Profile picture
18 May
Ok, I'm starting to realize there's a lot of very useful things happening in crypto. For example:

-You can buy tokens.
-You can stake tokens for interest.
-You can lend fiat to token buyers.
-You can hold tokens.
-You can swap tokens.
-You can buy insurance on your tokens.
Some more useful things you can do in crypto:

-- You can borrow against your tokens
-- You can trustlessly let a third party buy tokens on your behalf
-- You can arbitrage token mispricings across different exchanges
-- You can frontrun other people's token arbitrage trades
More

- You can join a DAO to collectively invest tokens
Read 4 tweets
Joe Weisenthal Profile picture
17 May
HARD DRIVE MAKERS SOAR THANKS TO A NEW CRYPTO FROM THE CREATOR OF BITTORRENT

I wrote about how shares of Western Digital and Seagate are soaring, because people in Asia are buying up hard drives to mine Chia, the new crypto from @bramcohen bloomberg.com/news/articles/… $STX $WDC $CHIA
@bramcohen Unlike Bitcoin which uses Proof of Work, Chia's security (or mining) model uses something called Proof of Space and Time. And that model involves people accumulating hard drives.

Here's some math from @tomshardware tomshardware.com/how-to/how-to-…
@bramcohen @tomshardware Meanwhile, NVidia chips sold on StockX that are used to mine $ETH continue to set all-time highs stockx.com/nvidia-nvidia-…
Read 4 tweets
Joe Weisenthal Profile picture
17 May
NEW ODD LOTS:

All about the topic du jour. @tracyalloway and I talked with @typesfast, the CEO of the logistics firm @flexport about how the world ended up in a deepening supply chain mess with no end in sight

bloomberg.com/news/articles/…
@tracyalloway @typesfast @flexport Ryan is really fantastic at explaining how the global logistics system actually works (much of it seems to be based on conventions and standards established 100 years ago that nobody's gotten around to changing)
@tracyalloway @typesfast @flexport Anyway, check out the episode at all the usual places

Apple: podcasts.apple.com/us/podcast/how…

Spotify: open.spotify.com/episode/7Gpzme…

Stitcher: stitcher.com/show/odd-lots/…

Etc.
Read 4 tweets
Joe Weisenthal Profile picture
16 May
ELON MUST REOPENS AN OLD WOUND IN THE BITCCOIN WORLD

New post from me about how out of nowhere, Elon musk has revived the block size wars, which for the most part the community moved past years ago bloomberg.com/news/articles/… Image
Previously the @elonmusk Doge tweeting was kinda trollish. But restarting the blocksize discussion. That takes it to the next level.
@elonmusk Meanwhile, very close to a new local low here Image
Read 5 tweets
Joe Weisenthal Profile picture
13 May
ELON MUSK JUST HELPED EASE THE SEMICONDUCTOR SHORTAGE

I wrote about how increasingly you can't talk about the chip market without talking about crypto mining.

bloomberg.com/news/articles/…
It's not just Bitcoin and ASICS. You have gamers complaining about being unable to get $NVDA graphics cards. You have the price of hard drives in China rising due to Chia mining and so on. All of it's competing for chip capacity.
Someone put together this fantastic chart showing that if you look at the aftermarket price of $NVDA chips right now, they're perfectly correlated with Ethereum hashpower as opposed to the MSRP imgur.com/a/y0smxik
Read 4 tweets
Joe Weisenthal Profile picture
13 May
THE FED IS ALREADY BEING VINDICATED IN ITS NEW APPROACH

In today's @Markets newsletter, I argue that all the weird and unpredictable data (CPI, jobs etc.) lately actually show the wisdom of the Fed's new wait-and-see framework

Sub' here bloomberg.com/account/newsle…
@markets Here's the @irvingswisher column I mentioned in the piece nytimes.com/2021/05/12/opi…
And here's the @M_C_Klein piece in Barron's on how so much of the hot CPI was a result of the reopening barrons.com/articles/dont-…
Read 5 tweets

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