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Chris Burniske Profile picture
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10 Jun, 4 tweets, 1 min read
It’s possible to reject the myopic view of BTC maxis, while supporting #Bitcoin.
While there are outliers, most of the people building out the #Bitcoin protocol or its applications are much more tolerant & reasonable than a garden variety maxi.
The loud minority of $BTC maxis are tiresome, but they’re just that, a minority.

Don’t let them turn you against what’s an important innovation.
Long $BTC. Long $ETH.

Long open innovation.

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More from @cburniske

Chris Burniske Profile picture
29 May
Society is always adding more, whereas freedom for me comes from subtracting enough of the excess to see the beauty all around.
It’s as if in each individual’s pursuit for meaning it’s too hard to look at the arbitrariness, and so instead we pursue infinite things to fill a bottomless hole.
In this context, Capitalism is an enabler of distraction, rewarding us with “more” for going further from the core of life.
Read 4 tweets
Chris Burniske Profile picture
25 May
Continue to believe #crypto is going to finish with a strong 2H 2021.
Inflation fears are overblown.

The financial markets appear past peak inflation fear (many commodities off their highs), and while inflation is hitting the consumer it’s unlikely to be extreme, and the financial markets will shift back to risk-on.
Inflation fears being good for $BTC were a fakeout. The asset is still young enough such that it follows growth & risk.
Read 5 tweets
Chris Burniske Profile picture
17 May
#Ethereum: Total transaction fees, also known as network revenue, increased 200x to $1.7 billion in Q1 2021, compared with $8 million in Q1 2020. -@draecomino
draecomino.substack.com/p/ethereum-q1-…
#Ethereum: Total transaction volume on Ethereum increased 20x to $713 billion in Q1 2021, compared with $33 billion in Q1 2020. -@draecomino
#Ethereum: Daily active addresses, a proxy for daily active users, increased 71% to 607k in Q1 2021, compared with 364k in Q1 2020. -@draecomino
Read 7 tweets
Chris Burniske Profile picture
10 May
In the turbulence of 2019, @placeholdervc would run optimistic exercises to stay grounded. This was one:
We now run a combination of optimistic and pessimistic exercises from #crypto's current perch.

People naturally asking, when's the top?

The truth: no one knows, exactly.
While we're in one predicted range at $2.5T in total #crypto value, the vibe from 2021 is supply inflation, speculation, and innovation. People saying, Up Only.
Read 10 tweets
Chris Burniske Profile picture
9 May
1/ @placeholdervc has always encouraged networks allowing people to earn the majority of a native cryptoasset, but liquidity mining has become a wolf in sheep’s clothing.
2/ Speaking with a team recently that’s building on a newer layer-1, they asked us if we, as an institution, *wouldn’t* stake.

Stating that in their ecosystem investors are foaming at the mouth to liquidity mine, but it’s clear those investors are short-term oriented.
3/ As @jmonegro has analogized, you wouldn’t take dividends from a company at the Series B stage, so why are we encouraging institutional investors to sap early rewards from the broader community?
Read 10 tweets
Chris Burniske Profile picture
8 May
Price tweets get the most CT play because culturally we’re obsessed with money.
Money is the most liquid and fungible capital, convertible with varying amounts of slippage into other types of capital.
Culturally we made this trade to have money be *the* common denominator a long time ago.

It’s been amazing for “productivity,” but appears increasingly imbalanced.
Read 4 tweets

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