ALΞX Profile picture
Apr 21 12 tweets 4 min read
🧵 A dose of reality on shitcoin triablism: Had a tough couple of weeks in the market, as have many. Today I had a good day and I'm happy with that. I also saw a lot of things that made me sad and and wanted to share a few thoughts. 1/12
I got into crypto in 2017 primarily because I thought #smartcontracts on #Ethereum sounded interesting. I'd heard of $BTC but wasn't honestly never thought the use case would catch on - yeah I legit thought about use cases back in the day 😆 2/12
Long-story short at first I was fascinated by the technology and potential of #blockchain but it didn't take me long to get sucked in by quick riches, ran 4 figs up to 6 figs pretty quick, was planning my retirement (lol) and then got totally rekt in the bear market. 3/12
But I stuck around and went back to learning about different applications and potential futures for #blockchain etc. Was super cool seeing #DeFi evolve and grow - and starting to see these use cases and usability coming to pass. Then I had a lot of fun in the bull market! 4/12
I won't deny I like the money, but what I hate is shitcoin tribalism. 99% of #cryptocurrencies are total ponzis. And I'm talking about coins in the top 100 right down to the 10k marketcap scams that launch everyday. Most rely on volume or emissions to sustain "use-case". 5/12
This isn't really a criticism. This is highly exciting and innovative tech that I believe does have immense power for change (for the better). And a hell of a lot of projects are trying to build great things (and bootstrapping and incentivising to do so) 6/12
That's fine. But we're not there yet. By all means we should support innovation in credible projects. But please can we stop with this BS tribalism for whatever happens to be your heaviest bag whether that's a 1B "blue chip" or a 100k shitcoin. 7/12
There are no gurus or heroes in this space. On the flip side the market is totally unregulated and there are a lot of sharks and bad actors out there to take your money with narratives, scams etc. They're out for themselves not for you. 8/12
Most projects will be gone within a short timeframe (even some of the blue chips), stepping stones for the next evolution. There's nothing wrong with that, it's a typical cycle of innovation. If they can pave the way for a new wave of innovation that is a good thing. 9/12
And yes we should support our investments, and I do so regularly as best I can. But 9/10 we're shilling our bags for riches and not game changing innovation. Let's not pretend otherwise. Mostly just coins that do nothing but go up or down depending on buyers and sellers. 10/12
I don't want this to come off too negative and this may seem obvious to many. But honestly some of the shit, arguments, cope etc. that I see is just really silly (pathetic) and a lot of it points to unrealistic ambitions, over investment and gambling addictions tbh. 11/12
Let's keep it real, have fun shilling our bags, and make some gains. Don't forget to take profits. Thanks for reading if you got this far. Stream of consciousness rant over. Don't know if it's in any way useful. Love you all for the good times we have on here. Peace 🙏 12/12

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More from @CrossChainAlex

Apr 1
🧵 Setting yourself up for success in #crypto. CT would have you believe everyone is a millionaire all in on up only low caps. This is far from the truth - most are #ngmi due to poor portfolio management. Here's some tips.

#DeFi #Ethereum #Avalanche #Cronos #Metis #Cosmos 1/13
🖊️ Plan your strategy, and stick to it. This will depend on your starting bankroll, e.g. smaller size may need to take more risk, larger size can be more conservative. Learn risk management and your risk appetite. Broadly stick to your plan and stay in the game. 2/13
📓 Record and track everything (examples below). When executing your plan record data and notes. Of course you can flex the plan when you see certain things are working and other aren't. You do need to be adaptable in #cryptomarkets but don't mindlessly jump around. 3/13
Read 13 tweets
Mar 25
🧵 Thread on @aerariumfi, another innovative upcoming launch on #Metis based around fractional ownership or the protocol or Treasury-as-a-Service (TaaS). It takes the #node concept (which I strongly dislike) and innovates to make it sustainable (which I like). 1/17
Their #node alternatives are called fractals. Like #nodes you buy fractals using the native $AERA token. 1 fractal costs 10 $AERA. The base reward rate is 0.1 $AERA per 100k blocks on the #Metis network (roughly one day). Fractals will be tradable as #NFTs in due course. 2/17
However, unlike typical #node projects the total supply of both $AERA and fractals are finite. The objective is that by buying a fractal you are buying a fair representative fraction of the protocol, and sharing fairly in rewards/dividends from the protocol. 3/17
Read 17 tweets
Mar 23
🧵 @bulmafi $BULMA is an extremely interesting project on #Metis. A decentralized marketplace for creating, trading and managing vouchers: Semi-Fungible Tokens that represent financial rights. This project deserves some attention and a thread of it's own! 1/16
The vouchers are a novel asset class that can be used for a number of things:

* Fundraising
* Community-building
* Liquidity bootstrapping
* Treasury diversification
* Risk mitigation

But what are these vouchers and how do they work? 2/16
They are financial #NFTs based on the EIP 3525 Semi-Fungible Token Standard. $BULMA is based on @SolvProtocol which is building a similar voucher marketplace on #Ethereum #BSC and #Polygon. The $BULMA dev is in discussions with the $SOLV team!

eips.ethereum.org/EIPS/eip-3525 3/16
Read 16 tweets
Mar 22
🧵 I have a sneaky feeling #TitanoForks are going to kickstart a micro cap frenzy on #METIS.

They’re ultra degen and I doubt they are sustainable. So I look at ones that are building with a longer term strategy/utility to optimize my odds.

Here are three to look at. 1/6
There’s @ares_finance $ARES that are building out a launchpad and #NFT and #Node layers on top of their base level #TITANOfork. The dev is very hard working and ships fast. Sub 500k market cap.

t.me/Ares_Finance 2/6
Then @gaia_fianance $GAIA. Hard working team also with interesting concepts around #NFT and $GNODES ideas. Docs state that they want to build a sustainable #DeFi product beyond their #TITANOfork. Let’s see. Also sub 500k market cap.

t.me/gaiafinanceoff… 3/6
Read 6 tweets
Mar 21
🧵 Snapshot of the @MetisDAO ecosystem. Digging deep into #METIS and like what I see. It's in it's formative stages but very promising. Here's some projects I'm exploring, broken down by category. Will be covering some of these in more detail in the coming weeks. $METIS 1/9
If you want to learn more about $METIS itself there's plenty of great threads out there breaking it down. I recommend this thread by @Plebonacci which gives some excellent detail. Now read on for the ecosystem plays!

2/9
♻️ DEX options:

Tethys @tethysfinance $TETHYS
Netswap @netswapofficial $NETT
Hermes @MaiaDAOMetis $HERMES

I've been using Tethys and Hermes which have both been a great experience to date. Pretty typical experience, just fast and with low fees. 3/9
Read 9 tweets
Feb 13
🧵 Delighted with this deal. The @crosschainfarm investment in @JPEGMorganCap has increased the $CCF treasury and offers greater exposure to the #NFT market. I personally love the project so much I'll also be onboard as an advisor. Here's why 👇
1/12
At first I was sceptical due to my aforementioned belief that the #FaaS space is become saturated. But $JPG taps right into the trend I flagged the other day regarding #NFT etc. "as-a-service". Read the below thread for my thoughts on that.
2/12
But what really blew my scepticism out of the water was a call with dev and founder @0xSodefi, He has that the super rare mix of tech, branding and marketing smarts in one brain! Very hard to find and he's tapped into the zeitgeist. Give him a follow. 3/12
Read 12 tweets

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