1/5

I was excited to hear Microsoft 11's event would include NFTs, but the NFTs are just coupon codes to buy Windows 11.

It also uses a weird corporate EVM deployed by "Eluvio" which claims to be a blockchain alternative to a CDN.
2/5

But, it doesn't seem to be something you can run a node for, so its really just a 'blockchain' running on private servers likely owned by the corp.

Claims its going to revolutionize how artists share content by requiring NFT tokens to access content.
3/5

But its not like the content itself is streaming from an EVM blockchain so...
4/5

Not to mention the Windows 11 event has been just this one weird dude singing multiple songs in what they claim is "6D" because they have....wait for it....6 cameras and a green screen...
5/5

If you ever need a reminder of how early we are in this space, you can just look at how poorly leading tech companies understand this space.

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More from @adamscochran

6 Oct
1/16

I think $DYDX has dramatically changed the market behavior.

It puts some critical new strategies on the table, and has a huge impact on the actions many market makers and bots seem to be taking. 👇
2/16

First, what's important to note is that DyDx has a different funding rate structure than a lot of the futures products in the market.

It's a more aggressive, but in turn much safer for the system, kind of calculation.
3/16

But, this makes for a huge delta in the rates, as can be seen in the 30 day avg chart below from Defi Rate.

Over 30 days, longing $ETH on DyDX 29x the FTX rate.
Read 16 tweets
1 Oct
1/7

A lot of crypto people delivering a bad take here saying this wasn't a hack.

It wasn't a hack where someone gained direct access to Coinbase's cold wallet but it was still a hack, because a piece of code Coinbase was running seems to have been the point of fault.
2/7

Notably the hackers had to have the email and password for the account, and an associated phone number to perform the exploit.

What people forget is many other crypto exchanges have had hacks where their database was dumped including KYC and 2FA information
3/7

So identifying that information is not nearly as hard as people might think, and sadly many users don't use unique passwords or rotate emails/user names between exchanges.
Read 7 tweets
30 Sep
1/11

If you don't follow US politics, let me just say that this debt ceiling stand-off is an utter shitshow right now.
2/11

Political games are being played all over the spectrum and there is a signifgant level of disarray and divide here.
3/11

Do I think the US government will default on its debt?

No.

That would be the most catastrophic thing to ever happen in modern finance and would impact the global economy for a century.

I think we'll avoid that.
Read 11 tweets
29 Sep
1/4

It really annoys me, how nearly every G7 central bank chief thinks that consumer price inflation is transitory and pricing will restore once supply chains resolve.

Really?

When is the last time a business *lowered* a price you were already paying?
2/4

If a business had customers at a higher price, they won't lower it even if their costs go down.

Our financial policy is made by people who don't even remember what it is like to operate in the real world any more.
3/4

Its political games and ivory tower policy that is playing with the livelihood of everyday people.

Their decisions impact our mortgages. They impact the cost to put food on your families tables or the ever rising cost of that first home.
Read 4 tweets
29 Sep
1/16

I'll take the opposite side in this debate, somewhat.

I think most DAO's today are nonsense larps not because of decentralization but because their participants don't have a clue about business, and the teams have no idea how to set up strong governance systems.
2/16

That said I believe DAO's are absolutely the future of this space and many projects are decentralized, but they've decentralized without the right systems in place to manage that and without the right knowledge.
3/16

Many large companies still think you can't work remotely nevermind in a decentralized fashion, but that simply isn't true.

I spent the last decade working for remote companies many of whom are some of the most effective operators in the space.
Read 19 tweets
27 Sep
1/22

I love DyDx as a product, it shows the huge value that onchain perps are going to have. But, I think its overvalued compare to the upside potential of others in the space.

China's push on CEXs was a huge gift to the space, that while up large, I think is just starting.
2/22

Unlike a lot of projects DyDx's token is strictly governance. There will be no fee capture, no use case, no buy backs.

All the trade fees actually go to equity holders, and unlike some other systems these aren't variables in the contract that the DAO can vote to change
3/22

The $20B FDV puts it on par with FTX, which if it can continue to grow its volume and maintain this level of liquidity depth, may actually be only minimally over priced.
Read 23 tweets

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