Deciding you want to innovate in crypto is deciding you're ok cutting out some of your entrails with a rusty saw 🪚

CZ launched Binance in 2017... took it from 0 to the world's largest exchange in 180 days

It was like crypto catapulted a decade into the future... 1/6 2/ Why build something like that when you know you're going tread through the shadowlands and ultimately be hunted?

I don't think "making money" is the final answer

Part of it, yeah, but there are plenty of other ways to do that

Nothing says as much as about the ordinals community as some of its early NFTs. This was #481

More 🔻🧵

ordinalswallet.com/inscription/5d… #1 - A cryptodickbutt with crisp, thick lines

For the record, I haven't been talking ords bc I think it's some hot new jerkoff spot for speculators to get rich

it is (& I've bought lotsa ords)

but I don't give AF about prices rn. I'm not sure anyone who got into crypto after the rise of $ETH can truly comprehend... 🧵👇

https://twitter.com/redphonecrypto/status/1631766403429683201

...how powerful this moment is

everything you felt when you discovered Ethereum

(or Solana or NFTs or whatever it is that brought you into the space)

is exactly what early bitcoiners felt when they discovered #bitcoin

I am convinced, gud sers, increasingly convinced, that the first 10k ordinals (I ((and many others)) prefer to call them artefacts) may become

the most sought-after digital items humankind has ever wrought

Pleas let me enumerate thy reasons why: 🧵👇 1) First, you must accept that virtually everything will be an NFT one day. We shall be awash in them.

There won't be millions or billions -- but an astonishingly unfathomable quadrillion-esque amount.

69 crypto theses/thoughts for 2023...

from the dark place under your feet

redphone.substack.com/p/69-theses-fo… A prologue

Bear 🐻 market survival guide

Rule No. 1: Never forget why we're here

To extract value from the markets. The inverse is also true: tradeable markets aim to extract value from you

More 👇 Rules No. 2: Live as if death is around the corner

Another -90% is always possible. Bear mkts are the opposite of bulls. They take all those incredible feelings of joy you felt during the bull and invert them... depression, hopelessness, numbness, anger...

🤡 thoughts on the bear:

1/ The reflexivity on the way down happens even faster than it does on the way up (as we've already seen).

cont'd 👇 2/ Once we get a final blow-off toilet wick, it's not back to the races... It's sideways, boring AF markets with fake-outs in both directions, but ultimately a slow bleed down

Random 🤡 thoughts on the $LUNA meltdown

1. People like to act like LUNA investors were low IQ, but most knew the risks. I’m realizing in retrospect that might not be the case for a lot of UST buyers, which sucks. Clown ❤️ goes out to them.

2. Some call Anchor a ponzi...

🧵👇 I don’t consider transparently subsidizing legitimate yield (from PoS assets + borrowing) to be a ponzi.

The fact is, Anchor was one of the greatest onboarding tools crypto has ever seen (for better or worse). It was simple to use.

It’s always easier to be a scaredy bear 🐻 than a fearless bull 🐂

it's human nature

we're frightful little creatures who crave safety

but many bears remain bears for a decade+ only to claim they were “right” after some market plunge that they supposedly saw coming... 🧵👇 Never mind the fact that the scaredy bears have been sitting on the sidelines for so long they’ve forgotten risk + reward are intimately commingled

All that said, I admit I’ve been feeling a little bearish and stablecoin-happy and I'm starting to wonder if it's a mid-IQ take...

69 crypto theses for 2022... from the dark place under your feet

(the JPG edition -- not PDF ☠️ -- by popular demand)

🧵👇

I can't help it

I have a naughty nurse trapped inside me...

Scooped up this Martha NFT for the cost of a Kia a few weeks ago: opensea.io/assets/0x495f9…

Why would I do such a thing?!? 👇👇👇 1) I like it

2) IRL component. Naughty Nurse comes w a physical print and a signed note from Ms. Martha herself

3) Martha = badass. I hope that when I'm 80 I'll be chillin w cultural icons like @SnoopDogg and still be plugged in enough to be aware of emerging tech

Here's one 🤡’s take on why @astroport_fi is one of the most underrated projects in crypto and -- full disclosure -- why I'm contributing to it & participating in the lockdrop

🧵👇

https://twitter.com/astroport_fi/status/1470649760772071430

A big part of why I like Astroport is the Terra ecosystem itself. Here's why:

Used to think DAOs were challenging LLCs/corps as the next model for human cooperation

Still believe that to some extent, but that definition is limiting and boring AF

I'm a contributor/member at multiple DAOs & believe more every day they're changing the fate of the species 👇 DAOs make it simple to marry your passions and your "work"

DAOs = passion + pay

But even typing that makes me feel like a cheap bastard

Controversial(?) ruminations on the China crypto ban:

1st the good:

- explosive as hell for defi

- explosive as hell for OTC trading

now the bad... 👇 - China will replicate everything that's cool about DeFi w it's digital yuan (but of course, all assets will be freezable and KYC'd)

DISCLOSURES:

I am an anon internet 🤡 for a reason

Do NOT take investment advice from me

Everything I say is an opinion

And if crypto teaches you anything, it's that opinions are often wrong

More 👇 The beauty of radical decentralization is the radical empowerment of the individual

You want that power?

Then, you're going to have to take on responsibility for your own decisions

Be skeptical

Be wary

Be careful

You don't want responsibility?

Go back to the banks, my fren

Where does all this lead, my frens?

A 🤡 just flew across the country to buidl w a tiny group of crypto anons he’d never met in person

I still don’t know their names

they still don’t know mine

Our plan was crude and dangerous…

👇 Spend a weekend working together IRL

Rent an airbnb big enough that we don’t need to find a co-working space, too

REAL NAMES MUST NOT BE UTTERED

NO PHOTOS WILL BE TAKEN

1 year ago, @AndreCronjeTech gave up complete control of Yearn

+ with it, $1 billion worth of $YFI tokens

He saved no special tokens for himself…

There were no VC investments or whitelisted presale addresses…

There was simply the gift of code

🧵👇

https://twitter.com/iearnfinance/status/1420772966200135685

Thousands of lines of glittering promise

Harvested from the heart of the dark forest

This gift, the community knew

contained multitudes

Have had the honor of contributing at Yearn @iearnfinance $YFI recently. A few revelations:

1) Anonymity makes us stronger. Some Yearn contribs get annoyed when you reveal personal information (like "I teach at MIT" or "I just got my braces off")...

🧵 below It's not because contributors give a shit about your age or credentials, but that info subconsciously forces them to weight your perspective differently...

At Yearn, the only thing that should matter is the quality of your contributions/ideas

El Salv approved #Bitcoin as legal tender

And thus began the global game of kings

(queen pawn to d4)

The IMF and China are on the defensive

& now another theory comes into play:

👇 "countries that ban crypto will begin to fall behind"

It's no accident #bitcoin rose from the ashes of the Great Recession

Necessity = the mother of invention after all

The money-printing happening today is kindling for a Grand Conflagration

It's the backdraft that will burn the halls of power

I do not like it tbh

👇 What's coming will be painful

As @aantonop states so eloquently, we're witnessing the Separation of Money and State

Someday, our children's children's children will read about this moment in textbooks

Short story on why I love crypto builders...

A few months ago, I sent a random idea for a crypto tool to @mattaaron at @uniwhalesio...

"I want a way to see new tiny cryptos almost the second they get added to a DEX," I said

More 🙃 I want to see how many holders they have... what the market cap is and where the price is trending

And I want to see this BEFORE the coins end up on major price tracking sites like CG and CMC