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Eni Joshua 🦇

Nov 8, 2022 • 8 tweets • 6 min read • Read on X

Everyday, new #crypto projects are coming up and you'll always hear the word "WHITE PAPER"

What does it really mean?

Completely understand in these 5 simple steps

Every company exists to solve a problem. The document that states their purpose of existence is called a business plan right?

That's what a white paper is for #crypto projects. It's a document that explains what a project does, and how it will achieve its aim [roadmap]

A white paper majorly consist of 3 things...

• A problem
• A solution and
• The author

Definitely, the solution takes the major part but...

note that the problem and the solution in a white paper are #crypto related👍

It doesn't stop there, there's more...

In a white paper, statistics, diagrams and facts are used to convince interested investors to buy the #cryptocurrency and also to educate the general audience.

Quick tip: a LITE PAPER is a shortened version or summary of a white paper

For example:

• #bitcoin white paper, published in 2008 shows how you can use #bitcoin as a better form of money I.e you wouldn't need banks to transfer money, and that's what #bitcoin is today.

• #Etherium white paper states how developers can build DApps on their blockchain.

@Enijoshua_

[DApps means Decentralized Applications]

In summary, a white paper is the business plan for a #crypto project

Follow @Enijoshua_ for more simple but professional threads

Quickly read this CRAZY thread about stable coins and fiat currencies before you go...

https://twitter.com/Enijoshua_/status/1589588266768293890?t=La2ZzVYJAtUDsQevso51MA&s=19

@wittyprince_

[Important] Also follow

@wittyprince_

@SamuelXeus

@_paulapaul and

@sabocrypto

I look up to them in this space
Their tweets will also help you grow

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More from @enijoshua_

Eni Joshua 🦇

@enijoshua_

Dec 28, 2023

𝗪𝗶𝗹𝗹 𝘆𝗼𝘂 𝗱𝗶𝗲?

Charles Darwin's theory of natural selection states that:

· #1 The weak die.
· #2 The strong survive.

In crypto:

· #1 Projects without users die.
· #2 Projects with users survive.

Here are 8 laws of marketing that'll get you users without airdrops:

The strong in Natural Selection don't have big muscles or special powers.

They're those who are 𝘄𝗶𝗹𝗹𝗶𝗻𝗴 and 𝗮𝗯𝗹𝗲 to adapt to their environment.

Note the words: WILLING and ABLE.

For instance...

→ Those who are willing, but unable to adapt are weak…

And will die off.

→ Those who can adapt, but foolishly refuse to…

Will die off also.

The two variables must be constant.

Whoever thought BlackBerry would die off?

Read 35 tweets

Eni Joshua 🦇

@enijoshua_

Dec 13, 2023

𝗜𝘀 𝘆𝗼𝘂𝗿 𝗰𝗼𝘂𝗻𝘁𝗿𝘆 𝘀𝘂𝗳𝗳𝗲𝗿𝗶𝗻𝗴 𝗳𝗿𝗼𝗺 𝗶𝗻𝗳𝗹𝗮𝘁𝗶𝗼𝗻?

True wealth means making money while you sleep.

Here's a new way to store money that won't get inflated:

(Even if you have little funds)

𝗧𝗵𝗲 𝗔𝗴𝗲 𝗼𝗳 𝗦𝘁𝗲𝗲𝗹.

There was rapid industrial growth in the late 19th century.

Booming industries like steel, railroads, and manufacturing resulted in stock market volatility.

However, you couldn't measure how the overall market was doing.

So...

Charles Dow, along with his business partner Edward Jones, created the Dow Jones Industrial Average (DJIA).

The process involved:

· Selecting 12 leading American companies.
· Adding up their stock prices.
· And dividing by 12 to calculate the average.

This created an...

Read 36 tweets

Eni Joshua 🦇

@enijoshua_

Oct 20, 2023

DeFi is not complete without decentralized stablecoins.

I researched the 6 most successful ones to discover:

· How they stay pegged.
· Their usecases & risks.
· And what makes them special.

Here are the BIGGEST developments in 2023:

According to Ethena, 40% of DeFi is dominated by stablecoins...

And centralized stablecoins control 91.19% of the stablecoin market.

A major part of DeFi is centralized.

What does this mean?

If regulators destroy stablecoins, they also destroy the DeFi space they can’t control.

Imagine if USDT is forced to shut down...

Will you survive? 😏

That's why the idea of "decentralized stablecoins" was birthed.

But it's been a roller coaster.

For example:

Read 19 tweets

Eni Joshua 🦇

@enijoshua_

Aug 1, 2023

𝗠𝗼𝘀𝘁 𝗽𝗲𝗼𝗽𝗹𝗲 𝗱𝗼𝗻'𝘁 𝘂𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝘀𝘁𝗮𝗯𝗹𝗲𝗰𝗼𝗶𝗻𝘀.

That's why they get rekt during depegs.

Here's a breakdown of how different stablecoins work:

(+ how to evaluate new stablecoins for free)

𝗜𝗺𝗮𝗴𝗶𝗻𝗲 𝘁𝗵𝗶𝘀:

It's 2014.

Crypto is still new. Altcoins are extremely volatile.

Your friend just got rugged.

You can't sleep well at night.

You keep thinking... "What if my portfolio goes down by 53% overnight?"

You're afraid.

And...

Your mind needs to be stable for good sleep.

That's why stablecoins were created.

A stablecoin is a token whose value is tied to another asset.

And most of them are tied to USD.

I.e 1 stablecoin = $1

Think of it as a bridge between fiat and crypto.

Now...

Read 26 tweets

Eni Joshua 🦇

@enijoshua_

May 30, 2023

I lost my life savings in crypto last year.

That's when I realized that all the 100X threads are useless.

The SECRET was in finding narratives & catalysts.

So I spent 63 hours studying...

Here's what I learned:

(𝖲𝗈 𝗒𝗈𝗎 d𝗈𝗇'𝗍 𝖽𝖾𝗉𝖾𝗇𝖽 𝗈𝗇 𝗂𝗇𝖿𝗅𝗎𝖾𝗇𝖼𝖾𝗋𝗌)

Narratives & catalysts drive where money flows in crypto.

· Catalysts are the 𝗘𝘃𝗲𝗻𝘁𝘀 that drive hype.

· Narratives are the 𝗦𝘁𝗼𝗿𝗶𝗲𝘀 people believe in because of the catalyst.

Why are narratives important?

Read this story ↓

The Keynesian Beauty Contest

The KBC was a game introduced by economist John Maynard Keynes in 1936.

Participants were shown pictures of 100 women and asked to select the ones they believe to be most attractive.

If you pick the most popular choice, you win.

But...

Read 21 tweets