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Dovey “Rug The Fiat” Wan🪐🦖 Profile picture
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21 May, 4 tweets, 1 min read
Tether on China RMB on/off ramp OTC price is tanking ATM
U 跌成狗了… 都在疯狂出金🤭大家还是注意交易安全 特别是在火币OK有大仓位的
Tether on sale
Means Chinese investors are exiting the market, selling tether into RMB to avoid collateral damages (ie if further action against p2p OTC and banking relationship)

This happen the faster the better, as when they exit tether means sell pressure is deployed already

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More from @DoveyWan

Dovey “Rug The Fiat” Wan🪐🦖 Profile picture
21 May
The seriousness of news is def more so than normal China FUD, can be material

1. It’s direct order from the state department

2. It’s emphasized by VP of PRC

In China policy’s execution and impact really matters on where the order is from and who announced it to the public
Also CCP has a known pattern to push policy update on Friday night(same for tradfi market)

As this can catch ppl off the guard and no agency will be working on weekend, leaving ppl no choice (and even hard to get clarifications) only prepare upcoming impact on coming week
gov.cn/xinwen/2021-05… this is the original VP’s talk summary form gov.cn

For it to be executed, there needs to be series of executable docs passed down to the actual agencies, so will wait for those in coming weeks to gauges level of seriousness
Read 4 tweets
Dovey “Rug The Fiat” Wan🪐🦖 Profile picture
20 May
I’ve had this conversion with @AWice before and wanna share it here too

The crypto game is NOT a poker tournament, it's a cash game. Stay on the table to build your stack up is priority #1

An endless game leads us to the infinite frontier, no matter you are builder, trader
Lots of us lost a ton of our net worth in last few days. But no matter builder, trader, hodler stay in the game is priority #1

I don’t like definite quote such as “make it back in one trade”, as long as u are in the game, the massive beta upside of the industry will reward you
I’ve seen so many friends and talents left the space in 2015/2019 winter, with frustration and wounds, turned themselves off in a perma denial after 2020 March crash

Sad they didn’t get a chance to enjoy what we have in past 12months of thrills and the infinite frontier in front
Read 5 tweets
Dovey “Rug The Fiat” Wan🪐🦖 Profile picture
19 May
Poll

_____ is worse and why?
I have mixed feeling, absolute scale March 2020 is def worse

- we were so close to entire asset class wipe out if Bitmex didn’t circuit break, could easily go to sub 1000 otherwise

- took much longer for a proper rebounce, dry powder drained

- macro was like end of the world
This time I’m uncomfortable primarily due to

- spot led dump, there are many over lev liq but it’s still spot led since 55k level and long term hodl wallets dump hard too

- the biggest retracement comp with 2017 so might abrupt the bull continuation (or we are more like 2013?
Read 4 tweets
Dovey “Rug The Fiat” Wan🪐🦖 Profile picture
27 Mar
A Korean top prop trader Bill Hwang was liquidated of his entire 15B position on over 80B gross notional exposure yesterday ... might be among the biggest liquidation in recent years for a Aisa prop shop

Many of his position are Chinese big tech stock like TME, BIDU, VIPS etc
And all his positions stocks hit hard yesterday. Bill started trading with his own money ~$200m after leaving Tiger Asia on 2012 and grew it to 15b before being completely wiped out (he traded Julian Roberson’s money in between and made 16m into 8b in 7yrs)

What a life.
If you are looking into building up position of $BIDU $TME $VIPS this is a pretty sweet BTD opportunity
Read 6 tweets
Dovey “Rug The Fiat” Wan🪐🦖 Profile picture
18 Mar
after Louis Vuitton drops exclusive skin with LOL last year, Burberry will partner with the biggest Chinese MOBA Honor of Kings (王者荣耀) for skin drops too

Top luxury brands join the game of digital items riding on the waves of zoomers’ consumer behavioral change ...
... this won’t be imaginable for boomers or even for many millennials

My younger brother (20) can casually spent 10k+ on virtual items in games but has no interest in buying expensive outfits

Core assets driving consumerism change from generation to generation
this is what Burberry posted on their Weibo for its skin sketch for 王者荣耀 (tbh pretty dope)

and my brother and his friends already plan fo ape regardlessly of the price

“This is a must have” he said
Read 5 tweets
Dovey “Rug The Fiat” Wan🪐🦖 Profile picture
7 Mar
很多Bitcoiner都是“自我觉醒者”，不是从业者也不是什么极客，可能和计算机领域都不沾边。但是就是一些阴错阳差入了兔子洞。自我觉醒者们其实往往比所谓的“从业者” 有更加深刻的认知和坚持，大多都是在周围没人指导，也没人支持的甚至讨论的人都没有的情况下一路走下来的。

1/
所以之前Balajis说的这个很对，也是比特币和其他的互联网原生技术最大的差异：要弄懂Javascript不需要对人类历史有了解，但是要弄懂比特币却需要。所以早期的比特币玩家不仅仅是极客，更多是哲学家+极客。很多后来的“自我觉醒者” 往往没有技术或者计算机背景，但是对人类社会的发展和人性有足够的认识
国内一位圈内好友经常说：比特币是一种生活方式，一点儿都没错：从小来看比特币代表的是一种节制不泛滥、站在消费主义另一端的生活方式，其本质其实是在技术自由主义思潮下的一个分支。”Money” 这个人类创造出来最影响深远的符号之一，可以算得上是“Cosmogram”级别。

3/
Read 5 tweets

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