Thread by @ShaanVP

cryptoweek. follow this thread (learn by doing.. learn in public)

started off creating a mental map for what all there is to learn.

I just went to disneyland, so I'm thinking about it like a big amusement park, with different rides.

Token Town
the DeFi District
NFT Mountain
etc..

Starting in the NFT world bc that's probably the area I understand the least.

I get it intellectually... but I "don't get it" in the sense that I can't bring myself to buy an expensive ape or punk.

The most interesting thing here is "Loot"

First reaction was - wtf, black square with a few random words in text? Why is this valuable?

@benmlevy said he saw a tweet about it right when it happened and minted 3 (just paid $150 gas fee). His 3 are now worth $150k.

first impulse. Fomo. second impulse. curiosity

why are people into loot? This thread explains it perfectly.

The creator @dhof (former founder of vine) turned the gaming world upside down.

https://twitter.com/avichal/status/1434271048216694785

analogy. Loot = a deck of cards

He created the 52 card deck. Now anyone can create an infinite number of games (poker, goldfish, war etc.) using that deck of cards.

Old Way = Game gets created (fortnite) and they sell in-game loot (digital boosts, clothes for your character)

New Way = Loot gets dropped first. Players buy it. Now anyone can build a game or virtual world and players can bring their loot into it

i like the idea, but don't wanna pay high price for loot. Plus ben already owns 3 so i can live thru him

but new project with ~similar idea @the_n_project_

but instead of specific loot (eg. Silver Sword) it gives you a set of numbers that any game can make mean anything

I like buying shit to get the momentum going for me. Eg. before I decided to start working out, I bought all the gear.

quick check on opensea. Ok these can be bought for ~1 ETH.

Let's do it. $3k for a black square with numbers. opensea.io/assets/0x05a46… Boom!

btw this thread isn't "content" and it's not really for you. It's a way for me to keep track of little tidbits I find & little things I do this week

hey @StephenCurry30 just come over to my house, we can figure this out together

https://twitter.com/StephenCurry30/status/1435047716950667264?s=20

@StephenCurry30 alright - babies are asleep. Time to continue.

check email - alright my NFT has a few offers. Nice try but of course, we don't accept these chump offers.

OK going to switch gears a bit. This isn't about flipping NFTs. Time to look into something new.. City Coins

inspired by this tweet by @rrhoover . when one friend eats. WE ALL EAT. that's my rule, so let me figure out what a city coin is for, and why it would go up in price:

https://twitter.com/rrhoover/status/1432845217443586052

ok that was a fail. got totally sidetracked into NFTs 😅🤣

Saw this in my mentions and it caught my eye. Same concept as loot, but for sports.

https://twitter.com/kallawavy/status/1435117895219044356?s=20

I've played 10,000 hours of NBA2k Franchise Mode (drafting imaginary rookies) - finally, an NFT I totally get

My n00b open sea strategy:

* filter for an attribute I care about (eg. "Speed")
* then sort by lowest price to find assets (lol) that are selling for less than market rate

Picked up a few rookies. This one is a winner. look at that FOCUS and AGILITY. He's basically a gymnast

My current thinking re: NFTs:

* the big idea is creating "scarcity". But there are so many NFT projects, that there is an "Abundance of Scarcity" right now

* it's fun

* likely some funny business going on (pump n dumps, collusion/wash trading, money laundering)

I also got a good tip to go pickup a ENS address.

For the internet, every address is just a jumble of numbers 0011039349

"Domain names" made it easy to remember addresses ("facebook. com", "yahoo .com")

For crypto, every address is a jumble of numbers. ENS gives it a ez name

some clever person is already squatting on my name and selling it for 0.5 eth.

An insult if you ask me. I would have paid 50 eth, but not 0.5 eth.

So instead i'll go pickup a new name for the crypto world..

the crypto domains end with ".eth"

let's get clever...what real words end with .eth?

hmm slim pickings. Best one is "Teeth".

Unfortunately, I am not the only one thinking along these lines. Te.eth is taken, and so is NiceTe.eth

*punches air*

alright what's something cool...

one of my favorite twitter handles is @ibringtraffic

always thought that was a baller handle choice.

OK time to come outta the closet with a new crypto name.

I think I've bled like $1k-2k in just gas fees just doing basic things tonight.

early internet was fun - but confusing and slow.

early crypto is fun - but confusing and expensive.

btw to do the ENS thing, I used this guide by @oneseventwonine 1729.com/register-block…

someone out there plz gimme remix of my profile photo for crypto week

i would love to put a mini bounty on this. Like 99designs on chain

note to self, go checkout Gitcoin tmrw. I think they do something like this

slept at 230am, body naturally wokeup 730am

that's how I know I'm doing something right in life. When I'm so excited about my day that I don't want to sleep in.

I bounce straight out of bed.

OK back at it - cryptoweek day2.

yesterday summary...

1. "bought stuff" to get my engine going
- $100k SOL
- handful of NFTs (@the_n_project_ , @rookie_nfts)
- created an ENS handle imovefast.eth

2. Made a bucketlist of stuff I want to go spend time on (rides at amusement park).
- NFT mountain
- DAO manor
- DeFi District
etc

I have a hunch some followers will get annoyed of this thread.. so I'd like to take this time to apologize..

TO ABSOLUTELY NOBODY !!!

the framework don does whatever the f*ck he wants!

cryptoweek portfolio check.

- solana --> i'm up 4% from yesterday
- N project --> up 50% from yesterday
- Rookie NFTs --> about ~even

While it was fun to start the week buying/flipping some assets. This week is about learning, not earning

will focus elsewhere today..

nevermind. looks like the @rookie_nfts are way down this morning.

I went to opensea to "sweep the floor" as they say (buy all the cheapest assets)

but the gas price is $300 for a $100 thing

typically i just holding btc/eth & don't usually feel the pain of gas fees

wow - crypto prices tanked during the last few tweets.

I took advantage by :

* selling some of the ETH i bought yesterday (~$3.8k)
* re-buying at lower cost (~$3.3k)

due to wash trading rules. This lets me book a loss & still holding same asset tokentax.co/blog/wash-sale…

my brain is wrapping itself around all the cool stuff I've seen the past 36 hours.

3 ideas...

Idea #1 - one of my goals in making content is to have an army of true fans ("who are my customers...? the people that love what I do")

what if I created 1k "True Fan Tokens", and gave them for free to anyone who is a loyal fan (proven by a quiz)

Then...

I airdrop stuff to my token holders.

Eg. if I write a book, and only distribute copies to the true fans. Or create merch, just for them. or they get access to my course for free. Or share financials of how my business is doing, for their eyes only.

True fan holders get perks

Idea #2 - what if I created a business school.

I sell 5000 seats (NFTs) for 0.3 ETH each.

Imagine owning a chair at harvard. You can either sit in the chair yourself, gift it to your nephew (scholarship), or rent it to someone in exchange for tuition (passive income)

This turns "admission" into "ownership".

If they believe my school will grow in value & presitge, then owning a seat will be quite valuable over time.

You can collect rent every year (your cut of tuition) or sell your seat to a new owner.

Idea #3 - create a "guided tour" for the crypto world.

Bring 1 ETH, and you join a zoom call with ~100s of other newbies.

An expert guides you how to setup the tools (eg. metamask) and shows you how to use DeFi protocols to earn yield, or buy NFTs, or store your crypto safely

Crypto needs better onramps. It's too:
1) CONFUSING (wtf is it? how do i do it?)
and
2) SCARY (should i click this button?)

i got lucky that my super smart, trustworthy friend @FurqanR sat with me, screensharing, and taught me how to use crypto

What if you don't have that?

my mission for cryptoweek is to execute on one of these ideas

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this week has been so much fun already. I feel like my brain is downloading a massive software update.

I can see why bill gates does a "think week" once a year in the woods where he just binges a ton of books on the thing he's most interested in

some highlights of the day:

- deep dive into liquidity pools & crypto safe storage best practices with @FurqanR

- now reading thru a stash of blog posts and twitter threads from thinkers I respect.

best blogs:
@packyM's ETH Bull Case
@VitalikButerin's Legitimacy blog post

Observation:

Ethereum is the city center. Culture, community & coders.

Bitcoin is the church & state. For them it's religion and personal liberty

They aren't at odds. But they are different.

Bitcoin is more durable and powerful. Eth is more influential and viral.

so much going on :

*me and @benmlevy like to take our profits from business and invest in random stuff (eg. NFTs, real estate etc.)

*going to make a DAO for this, and incorporate as Wyoming DAO LLC.

this will let us easily manage investments & have legal protection

also - it's my daughter's birthday (she's 2!) today. so going to pause cryptoweek and go become superdad for the day :)