Share this page!

Enter URL or ID to Unroll

You can paste full URL like: https://x.com/threadreaderapp/status/1644127596119195649
or just the ID like: 1644127596119195649

How to get URL link on X (Twitter) App

  1. On the Twitter thread, click on or icon on the bottom
  2. Click again on or Share Via icon
  3. Click on Copy Link to Tweet
  4. Paste it above and click "Unroll Thread"!
  5. More info at Twitter Help
Santiago R Santos | #9159 Profile picture
@santiagoroel
Aug 3 • 1 tweets • 1 min read • Read on X
One of the cleanest bets you can make in crypto: stablecoin adoption (ie supply growing)

Look at the stablecoin revenue posted by COIN

Take rate % likely goes down over time as COIN shares some of the interest income with users to match competitors but the aggregate volume likely goes up more than that to offset the fee compression

Disclaimer: long COINImage

• • •

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

Keep Current with Santiago R Santos | #9159

Santiago R Santos | #9159 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 @santiagoroel

Santiago R Santos | #9159 Profile picture
Jun 26
What’s your expected rate of return in crypto in the next 5 year period?
Benchmark here will be total crypto market cap. Think that will do a 3-5x in the next 5 years reaching a peak of $7-10T

But many will do <3x. normal distribution to things. Venture = power law. Many underperform benchmarks in traditional markets and in crypto

Much less from a MoM or realized cash on cash return
If you think you’ll do <5x then consider a portfolio of stables yielding 15-20% probably outperforms whatever strategy you’re doing

Ofc farming stables carries risk but just putting it out there

You can run many combinations from 100% stables to some mix of majors (0-80%) + majors + alts
Read 4 tweets
Santiago R Santos | #9159 Profile picture
Mar 10, 2023
If you hold USDC do you:

A) Swap to USD & withdraw to bank (are they solvent next week?)
B) Swap to major (ETH/BTC) & take market risk
C) Hold USDC

Everyone in crypto is doing this calculation rn
Exhibit A: Circle held $33.6B in US Treasuries and $8.7B in US Banks*

* Cash held at U.S. regulated financial institutions BNY Mellon, Citizens Trust Bank, Customers Bank,
NY Community Bank, Signature Bank, Silicon Valley Bank and Silvergate Bank

Source: circle.com/hubfs/USDCAtte…
@circle can you provide more clarity on what % is/was held by each bank?
Read 4 tweets
Santiago R Santos | #9159 Profile picture
Nov 14, 2022
1/ In this dark hour for the industry it’s crucial to remind ourselves why we’re here & why this matters. We’ve lost a lot of ground this year but let’s not lose sight of the good things happening. Among others, Ethereum migrating to PoS & scalability thru L2s
2/ I don’t think crypto goes away or remains niche. Digital scarcity/property rights are becoming an integral fabric of society & reshaping industries - similar to how the Internet did. We’re closer to releasing killer products that are too hard to ignore. Faster, better, cheaper
3/ Long gone are the days of recursive leverage. DeFi yields are lower than tradFi anyways. Many users have been hurt & lost confidence. Candidly, this raises the bar for us to deliver on the promise of creating wonderful apps/services powered by this tech. We have work to do
Read 5 tweets
Santiago R Santos | #9159 Profile picture
Sep 8, 2022
Few thoughts on regulation:

1/ Envision a state of the world where tokens need to register as securities (see @SBF_FTX 🧵). Is that the end of the world? Historically, it's been portrayed as such but I'm optimistic clarity will unlock much trapped energy
2/ A lot of regulatory uncertainty is already priced in and has help up many participants on the sidelines waiting for clarity to operate in DeFi & crypto

The spirit of the law is consumer protection & fairness, which I think are essential properties for any market to thrive...
3/ So if we abide by these core principles, there is a state where exchanges (FTX/Coinbase/Binance) become the gatekeepers where teams register to issue tokens. By the way, this already happens. The level of DD that some exchanges like Binance do on token issuers is rigorous...
Read 8 tweets
Santiago R Santos | #9159 Profile picture
Jun 23, 2022
1/ When you think you've missed a trend there's usually a 3-9 month window after the broader market discovers it where you can scale into a trade in size & still make outsized returns. You didn't have to catch DeFi at very bottom of last cycle & you won't this cycle. Here's why
2/ When Compound launched liquidity mining, the market woke up to DeFi. Until then only a few of us were investing across DeFi. Many thought they had missed the DeFi train. Data below supports my framework: usually have a 3-9 month window to catch up & still make outsized returns
3/ Interesting that you can buy core DeFi 1.0 protocols today at similar levels as the beginning of DeFi Summer in 2020. Arguably, many protocols are more de-risked having more traction to show for & Lindy effect. Rising rates changes the picture but still DeFi is not going away
Read 4 tweets
Santiago R Santos | #9159 Profile picture
Jun 20, 2022
1/ Crypto isn’t perfect. To expect it to be this early on is unreasonable. But the fundamental premise of having robust systems governed by predictable & transparent set of rules no one can control is here to stay. The possibility of having digital property rights is here to stay
2/ Crypto has a long way to go to realize its full potential. It’s important to remember this is still very experimental - on both the technical and socioeconomic side. The encouraging part is that the rate of experimentation is faster in open source systems (vs closed ones)
3/ As I reflect on the past 10 years since I discovered crypto, it’s been remarkable to see the growth of this industry. We’ve created trust-less systems that work. It’s become a trillion industry. It’s captivated the imagination of our generation from people of all walks of life
Read 8 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!

Send Email!

:(