Share this page!

Ryan Watkins Profile picture
Twitter logo
26 May, 4 tweets, 1 min read
In hindsight it will look obvious that the winning digital store of value was the asset that was used as money rather than meme’d as money.

$ETH
Wait you mean use as money actually matters? 👩‍🚀🔫
I think Menger would agree

unenumerated.blogspot.com/2016/02/two-ma…
This is basically Goldman’s view as well

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Ryan Watkins

Ryan Watkins Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @RyanWatkins_

Ryan Watkins Profile picture
19 May
In just two weeks Uniswap V3 has become the largest DEX on Ethereum next to Uniswap V2.

At its current pace of growth it will likely surpass V2 in volume by end of month.

And the most impressive part about it, is V3 is doing so with a fraction of the capital.

1/
Yesterday Uniswap V3 reached 81% of the volume as Uniswap V2.

This is all without liquidity incentives, passive LP managers, or even its soon to come layer-2 deployment.
Uniswap V3 marks a new age of capital efficiency in DeFi.

V3 is facilitating nearly as much volume as V2 with < 15% of the TVL.

It is the only AMM that turns over its TVL more than 100% on a daily basis - more than 5x Uniswap V2 which currently sits at number two.
Read 7 tweets
Ryan Watkins Profile picture
17 May
Token distribution is critical in determining the distribution of power in blockchains.

Concentrated insider ownership may permanently impair projects’ ability to become credibly neutral public infrastructure.

Oligarchy is the system we’re suppose to be disrupting.

1/
Blockchains promote a fundamentally new economic system.

Users opt-in to these systems, which makes it likely that the most trustworthy blockchains will gain the most adoption.

Trust attracts capital.

messari.io/article/power-…
Blockchains with concentrated insider ownership may be able to grow out of their initial distribution.

But we also may find their eventual shortfalls were predestined from launch.

h/t @cburniske
placeholder.vc/blog/2021/4/1/…
Read 7 tweets
Ryan Watkins Profile picture
13 May
While many people cite that 76% of Bitcoin miners use renewable energy, that’s not entirely correct.

Yes 76% of miners use renewables as part of their energy mix, but only 39% of mining comes from renewable sources.

In any case however this criticism still misses the point.

1/
This criticism is often birthed from the belief that what Bitcoin mining goes towards isn’t valuable.

“If Bitcoin is a useless technology, then why are we burning all this energy?”
There’s two pushbacks I have here.

1. What is the value of a fixed supply digital commodity money that cannot be seized, censored, or corrupted and can be trivially verified and transferred around the world in seconds?

What if everyone in the world had access to this asset?
Read 11 tweets
Ryan Watkins Profile picture
23 Apr
In Q1 2021 stablecoins facilitated $1 trillion in transaction volume - more than the previous four quarters combined.

A thread on the incredible quarter below.

👇🏾
In Q1 2021 the stablecoin monetary base reached over $65 billion and continues to rise at an accelerating pace.
Stablecoins continue to be adopted for a number of reasons:

✅ easy to accept as payments given all you need is a public blockchain address

✅ run on global public infrastructure that operates 24/7/365 which makes them incredibly available and reliable

niccarter.info/wp-content/upl…
Read 6 tweets
Ryan Watkins Profile picture
22 Apr
DEX volumes reached over $217 billion in Q1 2021.

This is up 236% from Q4 2020, and a whopping 8,012% from Q1 2020.

Uniswap continued to lead the way as volumes continue to rise in lockstep with asset prices.

A recap of the quarter below.

👇🏾
On a monthly basis DEX volumes reached a peak of $84 billion in February, once again led by Uniswap.
The biggest winner this quarter, and one of the more controversial DEXs, was PancakeSwap.

As BSC boomed in Q1, PancakeSwap grew its market share from to 37%.

The majority of the growth came from the middle of February onwards as Ethereum’s DeFi ecosystem fizzled out.
Read 8 tweets
Ryan Watkins Profile picture
12 Apr
Price action will cause people to believe anything.

I don’t care how high BNB or CAKE go, it won’t change that they’re still copycats.

It’s one thing to view these assets as a way to make money, it’s another to view them as innovations that push this industry forward.

1/
The reason why BSC is faster and more scalable is not because of some magical technological innovation.

No, it’s instead the magic of centralization.

BSC is an Ethereum fork with a centralized validator set.

That’s it. Nothing more.
What Binance has done well with BSC is GTM.

Binance has incredible reach and influence and has used that to funnel a boatload of new users in DeFi.

Binance executes period. That’s why BSC is winning.
Read 8 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!

Like this author's thread?

Get emails when @RyanWatkins_ has new unrolls!

Check out other threads from @RyanWatkins_!

Read all threads by @RyanWatkins_

:(