Thread by @0xminion

1) My second thread aims to try to cover some of the “conflicting” views between the crypto native and TradFi. Recently, I’ve seen a wave of #TradFi people joining crypto to start a project. As a #crypto native, here are some thoughts.

2) Firstly, welcome to #crypto and joining the wild east. You will see so many things that can be improved or leveraging the knowledge of TradFi to innovate in this young and vibrant industry.

3) Being a #crypto native meaning I’m forming my view about my life, financial market, and many other things mostly from crypto, although I have a finance background, I started to work in the crypto industry immediately after I graduated from university.

4) Having a computer science and finance background made me slightly easier to chase the #crypto rabbit hole. Nowadays, I’m just too deep in this future of france rabbit hole and started questioning my life (Why am I here, Who am I, What am I doing, LOL).

5) Below are some perspectives that I have formed in the past 4.5 years of my #crypto journey. a) Leveraging and bringing the knowledge from TradFi is helpful, but don’t think it’s easy and duplicate things in #DeFi.

6) #DeFi is so different from the TradFi industry, although elements from TradFi are still underpinning the DeFi industry. We have a different structure compare to the TradFi market.

7) As I said before, On-chain is a parallel universe to the off-chain world, there are so many pieces that don’t make any sense in the on-chain world. #DeFi

8) I’ve seen many ideas from the 2017 era that simply don’t work in #crypto at the time, such as “bank the unbanked”, higher TPS public chain, applications that connect to the real-world economy. Sorry, having 2017/2018/2019 bear market PTSD.

9) Yes, I get it, #blockchain is powerful and we want to push for mass adoptions, but think thoroughly about whether it is the right time to do so. Being early doesn't mean you can be successful. Survive during the potential bear market.

https://twitter.com/joel_john95/status/1415208526012551170?s=20

10) b) Know your #crypto meme and be part of the crypto culture. I’d take crypto native land and TradFi as like two countries. Speaking different languages, having distinct cultures, behaviors, and values.

11) When you go visit a foreign place/country, you will try to learn their history, culture and understand their values. I’d say the same with the #crypto land where our values, cultures, behaviors are different from the TradFi ones.

12) You have already taken a leap of faith to join the #crypto industry, and now is the time to experience the whole Pepe the frog #meme culture and be part of it.

13) c) Don’t be too certain about one thing, try to questioning everything. #Crypto is 24/7, and DeFi is evolving every second. There are so many things that we thought is the right way to do so at one point become not so right later on down the track.

14) There are also so many things that we thought is not right, but might be the right answers to solve the exact problem in another blockchain ecosystem. #Crypto constantly challenges your thinking, so the best you can do is be open-minded and question everything.

15) I've got too many thoughts but here are the top 3 perspectives which jumped out of my head when I'm writing this thread. But hey... Ancora Imparo ("I am still learning") Let's bring the future of france to the next level. #DeFi