Nick Tomaino Profile picture
@1confirmation. low extraversion, high conviction
Feb 10, 2023 7 tweets 2 min read
At this point no one in their right mind can believe the SEC is acting in the best interest of the American people by forcing Kraken to shutdown its staking offering The SEC reached out to me about staking in 2020 bc they saw an article about @1confirmation's interest in staking. We had a good discussion - they were genuinely open minded & interested in learning

Today shows that while there's great people at the SEC, leadership is lost
Jan 31, 2023 8 tweets 2 min read
Venture capital is the dumb money in crypto The reason is institutional LPs are lazy at allocating, so way too much $$ goes to VCs that fit a mold and spin a good narrative but lack original insights, strong vision and product understanding
Oct 23, 2022 24 tweets 7 min read
It’s useful to make a good faith assumption that SBF & team are trying their best, but the hypocrisy (which prob won’t be addressed by PR speak) is hard to deny

Here’s context on why many who care about crypto and freedom were triggered by the recent FTX post on the DCCPA bill: FTX is the known consumer brand that offers a crypto exchange to retail, but there’s also Alameda Research, a lesser known investment firm closely affiliated with FTX
Oct 16, 2022 20 tweets 2 min read
Purists and tourists in crypto --> Long-form here: getrevue.co/profile/1confi…

Thread below ⬇️
Jul 26, 2022 21 tweets 3 min read
Recently bought Cryptopunk #4156 for $3.31M

Here’s why: The tldr is it has venture upside over a 5+ yr time horizon & grail purchases make NFTs more “real” to the masses which is great for creativity in the world

Most see NFTs as a zero sum casino but there’s something deeper happening. More on the asset class, collection & punk...
Jul 12, 2022 12 tweets 6 min read
Bear markets for crypto prices always coincide with bull markets for new crypto products

Ten worth checking out👇🏽 @farcaster_xyz - decentralized social network by @dwr & @varunsrin
Jun 26, 2022 5 tweets 1 min read
The 3AC debacle is a good reminder of how fake the crypto twitter echo chamber can be

CT thought 3AC was the best fund on the planet & then it disappeared in days. Kayfabe and investing don’t mix well together 👇🏽 The open ethos of crypto is one of its best features - anyone can easily participate

But it also means anyone can easily copy and mindlessly amplify a co-opted narrative. There’s a lot of that on here
May 4, 2022 11 tweets 2 min read
1/ I haven't sold a share of Coinbase but will sell all my shares if the company doesn't make a strong move in NFTs in the next year. The current NFT product is not it... 2/ Coinbase built a massive business by being the bridge that connects fiat and crypto and keeping a finger on the pulse of the bleeding edge of crypto
Apr 29, 2022 20 tweets 3 min read
1/ Understanding countersignals helps you block out bullshit and focus on progress 2/ A countersignal is when an individual or group portrays an image to the world and in doing so reveals truth that is opposite of the signal they are trying to portray
Apr 28, 2022 10 tweets 3 min read
1/ The Replicated Market Maker (RMM) innovation from @PrimitiveFi feels like a 0 to 1 moment for DEXs that’s not fully appreciated yet but will be soon 👀 2/ The Automated Market Maker (AMM) popularized by Uniswap in ‘19 - ‘21 was the first big 0 to 1 moment for DEXs ofc

Anyone could easily & passively be liquidity provider (LP) & own the exchange. This was fundamentally more inclusive than CEXs & gave Uniswap lots of super fans
Apr 19, 2022 12 tweets 2 min read
NFTs are the wild west

It is easy to dismiss the disorder but it’s clearly the frontier of the Internet 👇🏽 The pioneers and gunslingers of this new frontier are the influencers
Mar 7, 2022 7 tweets 2 min read
How to last in crypto (and not get burned out):

- Prioritize impact over money
- Prioritize real world over twitter
- Prioritize values over tribes
- Understand your skillset and lean into it
- Believe in your own vision & don't get distracted by others Prioritize impact over money

Focusing on profits can be great for cash flow but it also often results in burn out. Money is a useful scorecard to measure impact over long periods of time but prioritizing the impact rather than the money will keep you in the game longer
Mar 2, 2022 12 tweets 3 min read
$33M+ in crypto funds raised by Ukraine so far and anyone in the world who contributes by tomorrow will receive an airdrop from the Ukrainian government

Funding national defense via a global cryptocurrency crowdfund & airdrop is the modern day “war bond” 👇🏼 Countries have issued war bonds to fund participation in war for the past 200 years
Jan 17, 2022 8 tweets 2 min read
Joined @Coinbase as early employee in 2013 then joined @OpenSea as early investor in 2018. Thoughts on both moving forward 👇🏼 Coinbase has grown into a $50B public company by being the bridge from mainstream to crypto

Cryptocurrency has been the main attraction for the past decade but there’s now a new thing bringing the masses in at a faster rate than cryptocurrency: NFTs
Dec 5, 2021 7 tweets 2 min read
Understanding @muratpak’s $100M+ merge sale, the largest primary sale of artwork ever by a living creator 👇🏽 Most think of an artwork as a single completed work that rich people collect

Pak reimagined what an artwork is. Merge is a 266,855 piece artwork which 28K people collected. It is not complete
Nov 11, 2021 11 tweets 3 min read
A web3 blueprint for launching an album with no record label 👇🏽 What @HaleekMaul is doing is for the history books
Oct 8, 2021 23 tweets 5 min read
Let’s talk about the scalability narrative that L1s have been using to compete with Ethereum since 2016 🧵👇🏽 Tldr - any L1 offering just scalability ngmi

Keep reading to understand why...
Sep 13, 2021 10 tweets 2 min read
Crypto countersignaling 101: how aggressively one shills a coin or NFT is inversely related to their conviction This is important for newcomers to grok imo. It’s not universally true of course, but helpful as a general framework and explains a lot of the micro booms and busts we see within crypto...
Sep 1, 2021 11 tweets 3 min read
I hear @opensea had a nice month?

A🧵on their early journey When @dfinzer and @xanderatallah started OpenSea they went through YC W18 and were not one of the hottest companies out of the batch. Far from it
Jul 14, 2021 4 tweets 2 min read
Scarcity is needed for an NFT to have long-term value. This sounds obvious but has been lost on many platforms and artists due to greed or ignorance

Where's the scarcity in a platform that anyone can mint on or an artist that has minted tens of thousands of works? Platforms and artists ignoring scarcity in a massive NFT boom can make a lot of money, but it's at the expense of collectors (and their brands) in the long-run
Jan 24, 2021 21 tweets 13 min read
Feels like a good time to share my path from random person on the internet to @Coinbase to @1confirmation

Nothing special just curiosity and hustle which everyone has, it just needs to be unlocked Coinbase is now a giant that's easy to hate on but started as an underdog just like every other startup. @brian_armstrong launched it by himself in June 2012

I got curious after reading his Hacker News post (news.ycombinator.com/item?id=4177605) and became one of the first users