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Ledger 🇺🇸 Prometheus of the Plebs Profile picture
Ledger 🇺🇸 Prometheus of the Plebs
@ledgerstatus
Constantly curious. Building @flip_xyz, podding @uponlytv.
May 24, 2022 • 4 tweets • 1 min read
We are probably already in a recession. By the time everyone realizes it, hopefully it will be close to the bottom for assets. Instead of "soft landing" fed kept loose way too long. Now that there's a steady state plan for 50 point hikes and balance sheet reduction, it likely won't be soft at all. Will be headwind alongside more natural pressures. And bam, rekt.
Jun 21, 2021 • 7 tweets • 3 min read
Coinbase is thrilled to introduce DOGE to all customers. Coinbase is thrilled to introduce INTERNET COMPUTER to all customers.
Feb 9, 2021 • 14 tweets • 3 min read
My “degen” IRA hit a mini milestone today. It started with a humble balance & the intention to trade actively. Active trade I did. Started in late 2018, today it hit an ~8x. But a 20x+ off its lows. I have a few potentially interesting takeaways from this experiment I’ll share. It’s worth starting by saying this was generally full of lessons in “how not to do it”. However, aggression was my strategy at the outset. I haven’t run traditional metrics like Sharpe at it yet, but they’d be terrible. I experienced several 50% drawdowns. One 75%+ drawdown.
Feb 7, 2021 • 7 tweets • 3 min read
Little thread on the Hiding Game and $rook. Thanks to @APETOGETHER for his help, and @CryptoMessiah too.

This address tracks the daily activity of the main keeper bot. The balance is moved about 100 blocks after each daily epoch, giving us a baseline.

app.zerion.io/0x3d71d79c2249… Image @APETOGETHER @CryptoMessiah Those withdrawals go to the treasury.

We can calc daily Keeper arb profits with napkin math by taking post withdrawal balance ($230k yesterday) to the balance right before new withdrawal.

This tells us the rook rewarded for giving arbs to the bot.

app.zerion.io/0x9a67f1940164…
Jan 12, 2021 • 7 tweets • 1 min read
Longing unused layer 1s is laudable but wrong.

ETH is the network that matters. ETH is used. Defi is the sector with rapid development, real world use case, massive $$$, and momentum.

Long ETH and Defi, forsake nearly all other alts. They are laggards. The very few worth dabbling for swings would be Solana, BSC, Polkadot. I can’t think of many others. Because these are also going after Defi and arent legacy chains pivoting. They bring challenge to ETH and that could be fun.
Jan 11, 2021 • 4 tweets • 1 min read
This is your chance to be a legend. However in dollar terms it's up $22 since this so there's that.
Jan 10, 2021 • 4 tweets • 2 min read
Yes, @Keeper_DAO raised “seven figures” from two investors. @polychaincap has 100k rook and 3AC has 20k rook.

The team is a partnership including Ren founders.

Announcements are radio silent right now. None are in promo mode. Which makes it accumulation central. When the arb mining process is finished this month, you’ll probably start getting a lot of announcements for product launches, exchange listings, partnerships. You definitely want to make sure you wait until after all that to accumulate. Makes total sense.
Nov 5, 2020 • 7 tweets • 2 min read
If you consider a 30% tax rate, selling a bitcoin at $15k to chase an altcoin, if your last tx on that btc was at $10k, you have a $5k profit and roughly $1500 tax burden.

You’ll realize it either way at some point, but my calculus is if it’s worth it before Dec 31 or not. If you underperform btc you needlessly speed up the time you owe the tax man by a year. If you overperform, you need to make at least 10% (1500/15000) before it makes sense.

It’s really hard but I’m waiting for a fat pitch. Today looks good but not worth it yet for me.
Nov 4, 2020 • 4 tweets • 1 min read
The GOP will soon dump Donald Trump and ask you all to accept that they only did what they had to do to stop Democrats. That they can now carry on with conservative principles.

They are spineless cowards. They are finished. There are no real conservatives in government. There are establishment Republicans with endless power thirst, and populist Republicans who will follow the Trump line.

But there are almost no fiscal conservatives in favor of limited government. It's a sham.
Sep 3, 2020 • 7 tweets • 2 min read
Alright so, this is where we talk about how money is created.

Most money is created out of thin air. Yes, even in crypto! Newly minted coins are valued based on a minority of coins changing hands and establishing the price.

In a bull market — new inflows enable expansion. 1/n Without new inflows of fiat, or rarely moved bitcoin or Ethereum moving to alts — the natural state of alts is contraction and a zero sum game despite more coins still being added. Most become zombies.

True value requires liquidity 2/n

ledgerstatus.com/zombie-tokens/
Aug 12, 2020 • 6 tweets • 1 min read
Life happens fast. $yam Just bought myself a bucket of YAMs. 100% YOLO.
Nov 27, 2019 • 4 tweets • 1 min read
This is the best opportunity in crypto since 2016. Across the board. I’m not trying to call exact bottoms. Most are in a lull. Many are glued to 1 hour timeframes when we should be considering 1 year horizon. Time to pay attention.