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Justin Label Profile picture
Justin Label
@justinlabel
Seed-stage investor, primarily in the Washington, D.C region. Official fund tweets over at @innerloopcap and @innerloopnews.
Yomi Shishio Profile picture 1 subscribed
Feb 21, 2022 • 5 tweets • 2 min read
1/ Trudeau's response to the protests has convinced @dhh that we do need crypto, despite his decade of well-reasoned opposition.

I hope he re-reconsiders, and sees that his critiques of crypto still stand, and democratic governance is resilient enough to self-correct. 2/ If Trudeau has over-reached, he'll have to face the courts and the voters.

Whereas relying on crypto for your freedom to transact means relying on the whales who act as a de facto Federal Reserve of Bitcoin, without any transparency or responsibility to the common good.
Feb 3, 2022 • 7 tweets • 2 min read
1/ This is depressing. $30B crypto funding in 2021. Nearly 5% of all VC. All based on a vintage of eye-popping crypto fund returns. All strictly dependent (IMO) on a historic bull run in BTC and ETH. Whose markets have been known for years to be openly manipulated and fraudulent. 2/ As shown since at least 2019, all of the 2013 bull run in BTC from $150 to $1,000 was fraudulent pumping and wash trading at Mt. Gox.

Of course, OF COURSE, the same thing has happened in the run from $4k to $68k (to $36k) since 2019.

investopedia.com/news/bots-drov…
Feb 1, 2022 • 6 tweets • 2 min read
1/ Happy American History Month, friends. 2/ No journey more fully captures and reflects what we want America to mean than the 400+ years of Black people in America.

Individualism, Talent, Community, Grit, The tension between moral power and raw power, Rising above subordination, Insisting on Justice, Hope, and Charity.
Sep 7, 2021 • 12 tweets • 3 min read
1/ Bitcoin is an NFT.

The tech may differ, but for all practical purposes today, the reasons for holding Bitcoin and @BoredApeYC are the same.

If you own a Bitcoin, this is functionally identical to holding a 1/21,000,000th fractional ownership in the most widely followed NFT. 2/ I’ve said elsewhere Bitcoin is a compelling proof of concept. To date, it seems to have generated no practical usefulness other than evading a law. Some people think some laws should be evaded, some think all should. Fair enough.
Sep 3, 2021 • 23 tweets • 5 min read
1/ Not that I expect anyone to care too much, but since this is the only place I “journal”…

After six years of occasionally observing the crypto space, I’m ready to take a position. Yep, it’s almost 100% very bad. 2/ I align myself with @milner_aviv & @ncweaver, in near-total agreement.

To a first order approximation the entire crypto sector is not distinguishable from a Ponzi scheme.

You can believe all of the following things at once, and for now, I do:
Feb 14, 2019 • 11 tweets • 4 min read
1/ I'm sorry to hear Amazon and Long Island City are breaking up. It seemed like it could have been a very interesting development. Now, however... 2/ Amazon should locate 10,000 to 15,000 employees in Port Covington, Baltimore.