Chris Burniske Profile picture
Jan 30 6 tweets 2 min read
NFT volumes & prices in Jan 2022 have been strong. Many say this shows how everything in crypto may not crash simultaneously again.

One could also say #NFTs are at the furthest end of risk, the most illiquid, and so the last to pump with the euphoric gasps of a dying bull.
(this doesn't mean NFTs aren't important; they are).
Those that were around in prior bulls know that the riskiest, most illiquid things pump last in crypto.
In 2013, $LTC had its dying, euphoric gasps for the top weeks after $BTC.

In 2017 BTC peaked in December, while $ETH peaked about a month later in January 2018.

In 2021, we had BTC and ETH peaking, before alternative layer-1s, before NFTs... in Jan 2022?
Another way to think of it:

Is Bieber signal of strength to come, or the end?
But I dunno, maybe psyops.

If $BTC can prove bottom soon here, and there's not more macro chaos that leads to "sell everything markets," we may be alright.

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More from @cburniske

Dec 9, 2021
Top 5 #cryptoassets by NV: Linear, Weekly

$BTC
$ETH
$BNB
Read 5 tweets
Nov 24, 2021
The more legitimate you become, the more you’ll be trusted with the simplest, but most pervasive, things.

Applies heavily to the #Bitcoin situation in El Salvador.
Checked out #BitcoinBeach for a few days, and specifically the work of @NewStoryCharity, which is building homes for people that are connected to the internet & web3.

People earn their way into these homes through affordable mortgages that are paid and accounted for in $BTC.
The @NewStoryCharity site below is funded by @coinbase, homes will be ready by EOY.

People we met getting these homes are over the moon.

The mortgages are USD denominated, but paying in BTC collapses the collection and audit costs.
Read 10 tweets
Nov 22, 2021
Despite my loyalty to Bitcoin & Ethereum, two networks that I literally grew up alongside, I will never be a maxi of any chain.
If there’s something I’m a maxi about, it’s abundance for all. The point of this tech is open & uncensorable economic access that allows all boats to rise.

Most of my questioning is to keep everyone, including myself, as honest as possible in pursuit of this goal.
While I don’t agree with every choice that different L1s are making, I also know navigating innovation is messy and more nuanced than Twitter can ever reveal.
Read 5 tweets
Nov 21, 2021
Traders are momentum driven, and alt L1s to Ethereum are peak momentum right now ¯\_(ツ)_/¯

Let’s see how things look 2H 2022.
To be clear, I fully expect a multichain world— @placeholdervc has invested to that end, but we have chosen a modular, community-owned one as opposed to monolithic.

And we are not abandoning $ETH.
A multichain world is good for competition, which is great for users. The point here is lowest fees possible, while providing all the guarantees we know well.
Read 7 tweets
Nov 21, 2021
If you’re an investor operating in private markets, imo it’s unacceptable to try to publicly shame an entrepreneur who is making good faith efforts.
Anyone operating at the private stage knows that getting something off the ground is hard.

Sustaining it? Even harder.
An investor or trader can diversify. An entrepreneur is all-in, requiring tremendous courage.
Read 6 tweets
Oct 23, 2021
1/ Pro-tip for long term investors: Principal Tokens from @element_fi are a good way to long high conviction #cryptoassets at a discount to spot: app.element.fi/fixedrates
2/ How is the cryptoasset offered at a discount?

@element_fi allows users to split the base asset of a *yield generating position* into 2 separate, fungible tokens: The Principal Token and the Yield Token.
3/ At the end of a set term (eg, 6 months) each Principal Token is redeemable for its proportional share of the initial stake, while Yield Tokens are redeemable for the yield generated by the principal over the same time period.
Read 6 tweets

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