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Meltem Demir◎rs

@Melt_Dem

6 Oct

@hashesDAO

1/ NFT alpha - hashes

today's PFP NFTs are a third order derivative of a hash. what if we take 3 steps backward in the lifecycle?

Hashes is a new kind of project, a simple building block, a DAO, and a distribution mechanism for NFTs

👀 thehashes.xyz + @hashesDAO

2/ the first thousands hashes are 1 ETH to mint and control the DAO - which will have 1000 ETH to start (from the mint)

subsequent hashes are free to mint, although the DAO can decide the pricing and controls the future of hashes

hashes introduce entropy into NFTs

3/ this is an experiment, and the DAO gets to decide what direction the experiment goes, including what happens to all of the ETH generated from minting

the hashes control the project and the DAO treasury

Read 6 tweets

Meltem Demir◎rs

@Melt_Dem

27 Sep

@MessariCrypto

1/ a thread on cross chain liquidity - my talk from last monday at @MessariCrypto's #MainNet2021 but without the leather pants and on-stage tequila shot

what is liquidity and how does it work? liquidity is a measure of market depth - how quickly you can sell and at what price

2/ illiquid assets have poor price discovery and wide spreads, they're difficult to trade in size or trade quickly without having to pay a premium

liquid assets, on the other hand, have tighter spreads and are easier to trade in size at a moment's notice

3/ the workflow of a trade in traditional markets requires the constant moving of data between databases - creating entries and deleting entries forever

tradfi markets are ngmi - execution speed will *always* suffer due to the double spend problem and lack of settlement finality

Read 18 tweets

Meltem Demir◎rs

@Melt_Dem

9 Sep

1/ identity is a data architecture

web2 tolerates credentialing without identity, but does not allow commerce without identity.

web3 nyms will preserve credentialing without identity, and enable commerce, incorporation, and much more without identity.

gwern.net/docs/bitcoin/1…

2/ this presents challenges for the state

the reason states begin managing identity centuries ago was for purposes of accounting, and subsequently taxation and conscription

this is why the state wants to maintain its control on all identity data and its structure and topology

3/ the friction point for the nyms in the metaverse will always be the translation point between digital with physical

this is why you see government agencies going on phishing expeditions to connect government issued identities to onchain identities - they're mapping nyms

Read 7 tweets

Meltem Demir◎rs

@Melt_Dem

24 Aug

1/ a quick thread on NFTs and why JPEGs are worth spending some time and energy understanding

are NFTs a bubble?

no.

wealth is a bubble. 1% of the global adult population are now millionaires.

2/ the global market for luxury goods i.e. conspicuous spending is absolutely massive

NFTs are digital flex / status symbol for a new class of consumers, but unlike the traditional markets of wealth and status, they are open to anyone, anywhere with verifiable scarcity

3/ for those who says spending millions on JPEGs is dumb and we should be solving world hunger, please give the folks on the trad art collector list a call first

people are spending $200M on blobs of paint. how is spending $2M on blobs of pixels any less noble?

Read 6 tweets

Meltem Demir◎rs

@Melt_Dem

21 Jul

@viridifunds

1/ investing in bitcoin has historically been limited to passive exposure (long BTC)

yesterday, @viridifunds launched $RIGZ, the first publicly listed crypto mining ETF

as the bitcoin industry grows, so do opportunities to invest along the bitcoin value chain 👇

let's dive in!

2/ before bitcoin, i worked in the oil & gas industry.

investors who want exposure to oil & gas in their portfolio don't just buy contracts for WTI crude or nat gas.

they buy a diversified portfolio of companies and commodities across the oil and gas value chain

3/ an E&P company can produce oil at a lower cost than they sell it, and investors can realize significantly more upside than holding just the underlying commodity, oil

a refining company that converts crude into product and retails it can extract higher margins

Read 9 tweets

Meltem Demir◎rs

@Melt_Dem

5 Jul

@compass_mining

1/ time for my monthly #Bitcoin mining update, apologies for skipping June

i'm 151 days into my @compass_mining experiment, and i've mined 0.09 bitcoin

🧮 let's whip out the calculator and do some basic math

https://twitter.com/Melt_Dem/status/1390014683709640709

@f2pool_official

2/ i bought my rig and hosting service from Compass - i sent them $, they did everything else

i chose @f2pool_official as my pool - i see my daily payouts and hash power on a nice little dedicated dashboard and download the CSV file to assemble this lil' report

3/ BTC mined - in the last week alone, bitcoin mined per day has gone up 45% thanks to the drop in difficulty

BTC price has dropped by ~45%, effectively keeping dollar ROI flat from May 5 to now 🦥

BUT rn mining 72% more BTC per day than i was in february when i started

Read 7 tweets

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