Meltem Demirors Profile picture
Feb 3 7 tweets 2 min read
1/ massive narrative shift under way right now

after a rough 2020 (who can forget crude futures flipping negative) the energy sector is entering a new era of profitability and cash flows

for 2021, exxon $XOM reported $23B of profits. chevron $CVX reported $15.6B net income.
2/ i expect the energy sector and the crypto sector will become fast friends over the next decade

bitcoin mining and other types of specialized computation that supports the security and efficacy of blockchain networks require colocation with abundant energy sources
3/ this is already beginning in the middle east and the nordics, where billions is being spent on data center development colated with cheap energy

in 2021, data centers accounted for 3% of global energy demand, and this trend will only grow over time

arabnews.com/node/1889796/b…
4/ so back to $XOM and $CVX and the energy majors. with billions of cash on hand, many energy companies have been focused on share buybacks to drive shareholder value.

what if instead, they spent that capital investing in crypto compute and colocation at scale?
5/ i believe the energy sector and the crypto sector are meant to be together, they're perfect complements for one another

energy x crypto = abundant cryptographically secure financial computation
6/ you can't have "blockchain" without energy flowing through a chip - doesn't matter what your consensus model is

the real opportunity is this - instead of nation states and corporations owning this infra, what if decentralized public networks did?
7/ ok that's really all that's in my brain rn

energy cycle on upswing = record profits and cash flows

crypto cycle on upswing = massive treasuries

put the two together and the story tells itself

DM me if you're thinking about this still missing some pieces but it has legs

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More from @Melt_Dem

Feb 1
1/ thanks to @cvpayne for having me on @FoxBusiness to talk about the crypto venture boom and the wealth being created by this growing industry

while flex is fun, there's something profound happening with the billions of dollars of wealth being created

video.foxbusiness.com/v/629482398300…
2/ in 2021, $612B was deployed into venture capital investments, nearly double what was invested in 2020

of that about 5%, or $33B, went into crypto related investments, but valuations in crypto are on average 150% higher than other sectors

investors want in at any price!
3/ there were 500 unicorns created in 2021, or roughly 1.5 unicorns per day. however, many of these companies have no clear path to liquidity.

in crypto, liquidity can be realized through a variety of avenues, including tokenization. this is attractive for GPs and LPs alike.
Read 10 tweets
Jan 31
1/ design is going digital!

acquired marula #002 - a physical chair and its digital twin, which lives in a metaverse landscape

designed by @StudioAkha, customized by me

only 150 marulas will exist

opensea.io/assets/0x495f9…
2/ there are 3 types of marulas - limited, rare, and ultra rare

the finishes and the location of the NFT goes from earth, space to other galaxies depending on the rarity

i'm excited about the intersection of design, NFTs, and new studio models for creators
3/ furniture is an interesting design space that hasn't seen much innovation

diego faivre created a collection called 'minute manufacturing' where each piece was priced per minute in 'diego coins'

production time was the asset, not the end product

thediegoscopy.com
Read 7 tweets
Jan 28
1/ dear @ewarren @katieporteroc @RashidaTlaib @SenatorHassan and signers of the "letter to cryptominers"

your letter, while admirable in intention, contains numerous factual inaccuracies around bitcoin mining, its ESG footprint, and impact on local energy grid

brief thread...
2/ the carbon emitted by electricity providers supplying the Bitcoin mining network are inconsequential.

at 0.08 % of global CO2e emissions, removing the entire mining network from global demand would not amount to anything more than a rounding error
3/ china's move to curtail bitcoin mining has been a huge boon for america's mining industry, and with it, has created thousands of jobs, revitalized dozens of communities, and generated billions of dollars in public and private market value here in america
Read 10 tweets
Jan 26
1/ excited to announce the launch of two new @CoinSharesCo ETPs - @Polkadot and @tezos

both ETPs have 0 management fees and give staking rewards to holders - 5% on $DOT and 3% on $XTZ

coinshares.com/news/coinshare…
2/ as blockchain protocols offer incentives to participate in securing the network, fundamental questions emerge around how long term holders of these assets participate in network inflation

at CoinShares, we have been building crypto financial products for the last seven years
3/ we recently invested in @StakingRewards alongside our friends at @DCGco and @GalaxyDigitalHQ to help advance investor access and education to all things staking

we are also investors in @BlockdaemonHQ, a key partner in our staking footprint!
Read 4 tweets
Dec 13, 2021
1/ new research from @CoinSharesCo @jbutterfill on quantum compute as a threat to bitcoin's security model

tl;dr - scary in theory, exceptionally unlikely in practice. also, the entire financial services / internet economy would be FUBAR.

read on 👇
coinshares.com/research/bitco…
2/ cracking encryption is HARD. 128-bit encryption has 340 undecillion (36 zeros) variants. that's... a lot.

context - a computer that could test 1 trillion keys per second would take 10.79 quintillion years to crack it, which is 785 million times the age of the universe 🪐💫👩‍🚀
3/ Bitcoin uses SHA-256 cryptography for mining, and for public key obfuscation in the transaction process, and it should therefore be secure in a post-quantum world
Read 7 tweets
Dec 9, 2021
1/ so you want to work in crypto?

excited to share a new @Pallet_HQ job board ft my amazing portfolio companies - over 150 roles from across 2 dozen companies in the space, and roles ranging across functions from engineering to HR to BD

meltem-jobs.pallet.xyz/jobs
2/ companies include @BlockdaemonHQ @CasaHODL @chia_project @edgeandnode @fold_app @MessariCrypto @zapper_fi and many more!

if you're a portfolio company, just ping me and i'll send you the link to easily add your open roles or link your careers page.
3/ finding a new role can be tough

the @Pallet_HQ team has done an amazing job and makes it really easy for job searchers to browse across the industry and all of the different platforms and sites.

they've also been so incredibly kind and helpful 🥰 thank you team!
Read 5 tweets

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