Jun YU Profile picture
May 26 6 tweets 1 min read
1/6
I would like to post a thread to talk about what is #Ponzi.🧵
Ponzi is named after Charles Ponzi. He is a lair, who creat a fraud named international mail coupons,while actually he lures investors and pays profits to earlier investors with funds from more recent investors.
2/6
Therefore, Ponzi uses tricks to leads victims to believe that profits are coming from legitimate business activity. So unless you think Fraud is a neutral word, don't say Ponzi is a neutral word and don't say no Ponzi no blockchain.
3/6
It is true that some projects need some subsidies in the early stage, that is subsidies not Ponzi. What is Ponzi? It is a game using the money of new investors as the return of old investors, high profit traps to maintain the illusion of a sustainable business.
4/6
Amazon and  Uber achieve cold boost using equity financing money, while the Crypto projects use tokens to reward participants and contributors. Unlike Ponzi, those projects will be value precipitation finally. The gap of Ponzi will be bigger and bigger, until hard to fill in.
5/6
In fact, there are obviously such projects on the market, with fancy face value, but in fact the nature is a Ponzi. Compared with the above valuable companies relying on subsidizing early users to achieve cold boost, there is a fundamental difference.
6/6
Stop saying No Ponzi No blockchain. You should read the most basic finance 101 Corporate Finance. People with basic financial knowledge will not believe in Ponzi just as people who have studied thermodynamics will not believe in the existence of perpetual motion machines.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Jun YU

Jun YU Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Jun_Yu

May 27
1/6
如果需要上千美元的门票,奔着年化百分之一千的收益,这不叫web3.0,我更加愿意把它叫做“赌场3.0”。
我从没有唱衰web3.0,只是唱衰借用web3.0的概念做出来的庞氏资金盘。
下面开个thread聊聊我心中理想的web3.0是什么样的⬇️
2/6
首先明确现在用户使用web2中心化产品的痛点是什么?比如说平台封号带来的社交关系丢失,比如说对创作者的产权保护和创作激励的不足。不是所有的产品元素都要上链,先解决痛点和性价比最高的部分,比如将social graph建立在链上,这部分人们是愿意消耗Gas去添加删除好友的。
3/6
X to earn是个好的冷启动方式,但不是嗑药,如果给所有人1000%的收益,就是一条不归路,可以按用户先后顺序分层,逐层递减到和缓的收益率,支撑起整个经济体系。X to earn只是一个催化剂,真正重要的是产品本身。即使没有代币奖励,产品应该依然可以沉淀价值,有可持续性,只是增长慢一些。
Read 6 tweets
May 25
1/6
最近听到有人说无Ponzi不区块链,开一个线程来讲讲什么是Ponzi🧵
其实很多人对Ponzi的定义都不清楚,大家可以去看看维基百科,Ponzi是以Charles Ponzi的名字命名,他本身是一个骗子,他声称他的international mail coupons可以几个月内获得50%的回报,但实际上是用新入场的人的钱去补贴之前的人。 Image
2/6
所以其实Ponzi首先是一种Fraud,是用新人的资金去补贴之前的人,并通过骗术来让人相信利润是合法合理的。所以别再说Ponzi是一个中性词,也别在说无金融无庞氏,除非你认为Fraud是一个中性词。
3/6
诚然有些项目在早期冷启动的时候需要一些补贴,那就叫补贴好了,而不是Ponzi。Ponzi是什么?The Fruad that lures investors and pays profits to earlier investors with funds from more recent investors.
是用新投资人的本金作为老投资人的回报,用高利润的陷阱诱导用户接盘的游戏。
Read 6 tweets
May 21
1/上周 UST 爆雷之后,有很多朋友问我 USDT 是否安全,最近 #Tether 公布了 $USDT 2022 年Q1的审计报告,算是对市场上质疑的声音做了回应。如果这份报 告的数据真实可信,那么虽然 USDT 仍然存在没办法百分之百兑付的风险,但是 USDT 因为被挤兑而崩溃的概率是非常小的。
从这份报告中,我们可以看到 Tether 公司目前是资大于债的,即储备金价值大于发行稳定币市值。如下图所示,目前 Tether 公司持有资产价值约 824 亿美金,负债约为 822 亿美金(其中约 821 亿为 稳定币发行)
2/
尽管账面上,泰达的资产大于负债,但是泰达公司在给持有资产估值并没有考虑到流动性风险和违约风险,也没有为其做相应的预期信任损失准备金,在拆分了其资产构成后,其实这两类风险是无法完全避免的。
Read 9 tweets
May 15
1/
In the past a few days, some founders of our portfolio projects have called me to talk about the views on the market and some suggestions for the project development.
Here are some of the common thing that I would like to share:First, according to the data review of several cycle of bull and bear market, the projects with better returns usually experienced the baptism of the bear market and persist until the bull market comes.
But unfortunately, countless projects fell in the darkness before the dawn, either because the founder himself gave up, or because the project burnt out all the money. Therefore, the most important thing now for the project founders is, leaving enough expenses for dark times.
Read 9 tweets
May 15
1/
这几天有些被投项目的创始人给我打电话,聊了聊最近市场的看法以及对接下来项目发展的建议。
这里有一些比较共性的东西,拿出来给跟大家分享下。
第一,根据几次牛熊过来的数据复盘,收益比较大的项目都是超越牛熊的,经历了熊市的洗礼,坚持到牛市来临的项目都不会太差。
但是很可惜的是,无数项目倒在了黎明前的黑暗,或是因为创始人自己放弃,或是因为项目把钱花光了,所以对于项目方来讲现在最重要的是量入为出,留足过冬的开销。
2/
第二,项目在熊市中需要给投资人和社区足够的信心,需要更频繁的互动,将自己的产品运营和路线图保持足够的透明,需要告诉你的投资人和社区,项目方还在继续做事,在这个时候,信心比什么都重要。而熊市,恰恰是积累信心和建立声誉性价比最高的时候。
Read 5 tweets
May 14
1/ To summarize my thoughts on the recent #LUNA event:

I had a chat with them in 2018 in the private round when I was in charge of investment at OKex. I met Do Kwon and Daniel three times. At that time, Terra team didn't want to develop a stablecoin project, but offline payment.
I was not optimistic at the beginning and passed this project. But someone in our investment team liked it so much that OKex decided to invest. It turned out that the project was one of OKex's highest ROE project ever.
2/
For those of us who have been in the industry for a long time, we may not be interested in this kind of thing at first. Its ecology is like flying with the left foot on the right foot. Everyone with basic physical common sense knows that it cannot fly, right?
Read 16 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(