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David Lee @davidlee
, 3 tweets, 1 min read Read on Twitter
1/ The worst part about Warren Buffett/Charlie Munger's view on Bitcoin is they ignore their maxim to understand the other side's argument "better than your own" before having an opinion.
2/ It's probably their most memorable thought for me. And they flagrantly violate it when it comes to Bitcoin fs.blog/2013/04/the-wo…
3/ It doesn't mean that the tech's view is right but their view has no nuance
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More from @davidlee see all

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Fundraising tip:

Immediately after a meeting, write down every question that was asked - to the word. It feels tedious but it's the fastest way to improve your pitch.
Second fundraising tip:

Number your slides. Not even joking.
Third fundraising tip:

Prepare for questions more than you prepare your "pitch." You're not giving a TED talk.
Read 11 tweets

Related threads

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THREAD // Life is about finding fulfilling work, not saving up enough money to never work again.

When I first discovered the concept of early retirement (save up enough money in 10-15 years to never work again), I thought it was the solution to lasting happiness and bliss.
I hated the idea of working 40 hours per week in a cube for 40 years doing work I found pointless, so stacking up enough savings to never need a cubicle job again seemed like a great idea.
But the more books, articles, podcasts, and videos I consumed by people who had actually quit the rat race at a young age, the more I noticed a trend: each of these people experienced a "void" in their life.
Read 16 tweets
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THREAD // Life is about finding fulfilling work, not saving up enough money to never work again.

When I first discovered the concept of early retirement (save up enough money in 10-15 years to never work again), I thought it was the solution to lasting happiness and bliss.
I hated the idea of working 40 hours per week in a cube for 40 years doing work I found pointless, so stacking up enough savings to never need a cubicle job again seemed like a great idea.
But the more books, articles, podcasts, and videos I consumed by people who had actually quit the rat race at a young age, the more I noticed a trend: each of these people experienced a "void" in their life.
Read 16 tweets
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Let's make a thread about those making ridiculous price predictions. #Bitcoin #Crypto
This one is great. $50,000 by the end of 2018. Of course!

A screenshot, before I get blocked.

Notice the number of likes and retweets.
Read 14 tweets
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Spending #Bitcoin today is senseless. But if we manage to make it a good store of value, then it will naturally be used as a medium of exchange in the future.

Thread 👇
1/ Instead of focusing on the act of "spending", we need people want to "earn BTC", to "be paid in BTC". We need more hodlers.

The economic and technical consequences of stressing one viewpoint (to spend) over the other (to earn) are profound and irreconcilable.
2/ Money's essence is being used as a medium of exchange (MoE). But for something to become money, or a universally accepted MoE, it must first follow evolutionary stages. First, comes store of value (SoV), second, MoE, and third, unit of account (UoA).
Read 57 tweets
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That was the largest Bitmex 5 min volume print in history. Second largest was on July/4. While overall volume is diminishing, volume during pumps/dumps is increasing. #bitcoin $XBT $BTC
That BTW was tradeable. From the long side. Do not want to fade that, will usually get run over.
Example of trading breakouts. When doing so, trader must know how to take a loss. Breakout failed? Take loss. Yet when it works, it's paradise.

REACT > PREDICT.
Read 4 tweets
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1/ Don't be scared of potential hard forks. They are a key component of #bitcoin's ability to upgrade through rough consensus/game theory.
2/ A healthy #Bitcoin network is one which will fork many times in its future. Forks can enable new ideas, market will value accordingly.
3/ Only reason we don't already have many #bitcoin forks (w/ different PoW) is b/c devs can make a lot more $$ starting a fresh chain. $btc
Read 14 tweets

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