I love how developers, who were early ETH or BTC adopters, leverage that financial freedom to work on cool innovative ideas, rather than buying lambos and running around throwing cash at strippers (you put cash in their underwear, not throw at them!).
When a human crosses that boundary of being dependent on money to feed himself and to have a roof over his head, he can start thinking about deeper things, forgetting about greed - which is also a test for everyone. And that is one of the cool things I find about the speculative aspect of crypto. It’s a risky tool, given to everybody, which allows one to jump over that social lift which would otherwise be close to impossible. But it’s up to you how you use that advantage once you succeed in the speculative game.
Read, learn, try to get a deeper level of understanding of things. It gets really interesting yet complicated with every word you read. But then you will become a value-capture tool by yourself, and that can be transposed into many different things later on. After all, there is no more profitable investment than investing in yourself.
Most of us came here by first hearing about the crazy ROI, that’s fine. But is that your ultimate goal?
💸 I am here for ROI, I hardly care about substance in this particular space (perhaps you believe in VR more)
💰 I am here for ROI, I hardly care about substance in general (just want lambo and moon)
💡 I came here for ROI, but I am trying to understand and create value as I move on
⚙️ I came here for the tech, but I am now also involved in the ROI game
🛠 I was always here just for the tech, never cared about ROI (Andre, I made this button for you - gonna be 1 vote only I guess)
PS: I like to think I am option 3: 💡
When a human crosses that boundary of being dependent on money to feed himself and to have a roof over his head, he can start thinking about deeper things, forgetting about greed - which is also a test for everyone. And that is one of the cool things I find about the speculative aspect of crypto. It’s a risky tool, given to everybody, which allows one to jump over that social lift which would otherwise be close to impossible. But it’s up to you how you use that advantage once you succeed in the speculative game.
Read, learn, try to get a deeper level of understanding of things. It gets really interesting yet complicated with every word you read. But then you will become a value-capture tool by yourself, and that can be transposed into many different things later on. After all, there is no more profitable investment than investing in yourself.
Most of us came here by first hearing about the crazy ROI, that’s fine. But is that your ultimate goal?
💸 I am here for ROI, I hardly care about substance in this particular space (perhaps you believe in VR more)
💰 I am here for ROI, I hardly care about substance in general (just want lambo and moon)
💡 I came here for ROI, but I am trying to understand and create value as I move on
⚙️ I came here for the tech, but I am now also involved in the ROI game
🛠 I was always here just for the tech, never cared about ROI (Andre, I made this button for you - gonna be 1 vote only I guess)
PS: I like to think I am option 3: 💡
People who capitalize on tech and research now, despite the bear market, will have much more significant long-term outcomes (not just $) when the market recovers. Go read.
I am not really getting the whining around projects fucking people over. Here is my view on it.
If you invest in projects where there is only hype and you see no fundamental advantage of their tech/solution - it is a marketing ploy which you are biting. However, it easily evaporates as soon as a small issue occurs. Thesis: you gambled for x2, and got -2. Suck up your risks, you knew it.
You saw the hype. You thought you could flip. Turned out there was nothing behind them, and your bet did not play out. Now people are calling for smart contracts, trustless execution of sales and etc... but wait, do you not see a fundamental flaw in this?
Investing in ICOs is investing in ideas. It is your belief that the team will carry out what they promise. Therefore, if they can’t even be honest about the sale terms, do you expect them to carry on properly? Nah. Thesis: an investment in an ICO has a huge trust component in it by default.
‘But Ivan, there are DAICOs!’
DAICOs are easily gameable, that is too risky. First of all, voting can be skewed, thus leaving even a good project empty-handed. Secondly, a project might shift its course once they define their go-to-market strategy and find a better fit for the market which was not initially seen - also hard to implement with DAICOs. Lastly, the phrasing of development stages will get very broad to facilitate any delays, then it will cause further suspsicions, you will have to get a third party to verify it… and then again you come to the issue of trusting that third party. I do not think they are the perfect model. I will try to think of a few - please send me suggestions!
Overall: read papers, educate yourself, or you will keep playing PnDs and getting fucked over. Or maybe just go back to lending coins 😏
If you invest in projects where there is only hype and you see no fundamental advantage of their tech/solution - it is a marketing ploy which you are biting. However, it easily evaporates as soon as a small issue occurs. Thesis: you gambled for x2, and got -2. Suck up your risks, you knew it.
You saw the hype. You thought you could flip. Turned out there was nothing behind them, and your bet did not play out. Now people are calling for smart contracts, trustless execution of sales and etc... but wait, do you not see a fundamental flaw in this?
Investing in ICOs is investing in ideas. It is your belief that the team will carry out what they promise. Therefore, if they can’t even be honest about the sale terms, do you expect them to carry on properly? Nah. Thesis: an investment in an ICO has a huge trust component in it by default.
‘But Ivan, there are DAICOs!’
DAICOs are easily gameable, that is too risky. First of all, voting can be skewed, thus leaving even a good project empty-handed. Secondly, a project might shift its course once they define their go-to-market strategy and find a better fit for the market which was not initially seen - also hard to implement with DAICOs. Lastly, the phrasing of development stages will get very broad to facilitate any delays, then it will cause further suspsicions, you will have to get a third party to verify it… and then again you come to the issue of trusting that third party. I do not think they are the perfect model. I will try to think of a few - please send me suggestions!
Overall: read papers, educate yourself, or you will keep playing PnDs and getting fucked over. Or maybe just go back to lending coins 😏
What I think of when I hear smart money and smart investor.
From now on my spirit animal is a lemming 🐒
Thanks to Akanshu for the video
youtu.be/AOOs8MaR1YM
From now on my spirit animal is a lemming 🐒
Thanks to Akanshu for the video
youtu.be/AOOs8MaR1YM
YouTube
lemmings jumping off cliffs
Lemmings jumping of cliffs. Some think its sad but it's part of their nature.
SEC strikes again! This time it’s not crypto, but our boi Elon Mars
PS: for shitposting on twitter and “taking Tesla private” without funds being #SAFU
The settlement, which is still subject to court approval, includes the following:
- Elon will pay a civil penalty of $20 million and give up his role as chairman of the board for at least 3 years
- Tesla will pay a $20 million fine, and appoint two new independent directors to the board
Elon, remember, SEC can’t get you on the moon! That being said… wen moon sir?
PS: for shitposting on twitter and “taking Tesla private” without funds being #SAFU
The settlement, which is still subject to court approval, includes the following:
- Elon will pay a civil penalty of $20 million and give up his role as chairman of the board for at least 3 years
- Tesla will pay a $20 million fine, and appoint two new independent directors to the board
Elon, remember, SEC can’t get you on the moon! That being said… wen moon sir?
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Your portfolio in the last few months
Interesting stuff: blog.bitmex.com/ethereum-holdings-in-the-ico-treasury-accounts. Quote: ICO treasury accounts have a much lower level of exposure to the price of Ethereum than many may have thought.
‘I hired a treasury service to increase my line of credit, which is smart’ (c) ICO
So... Are you done? Did you finish? Is your network dominating the world, making it a better place?
You raised money for a tech project, and instead of building stuff - you are hiring asset managers and diversifying your risks? Excuse me, did you not raise the money for building the product?
Your money must go into events facilitation, hackatons, ecosystem development and hiring developers. I did not contribute to your project for you to be running around buying equity, real estate and making your own VC which has no relevance to your project. Stop with those bullshit arguments about diversifying risks. You raise money, you build the product you promised, you launch it and market it. Otherwise you are a total scam. Period.
So... Are you done? Did you finish? Is your network dominating the world, making it a better place?
You raised money for a tech project, and instead of building stuff - you are hiring asset managers and diversifying your risks? Excuse me, did you not raise the money for building the product?
Your money must go into events facilitation, hackatons, ecosystem development and hiring developers. I did not contribute to your project for you to be running around buying equity, real estate and making your own VC which has no relevance to your project. Stop with those bullshit arguments about diversifying risks. You raise money, you build the product you promised, you launch it and market it. Otherwise you are a total scam. Period.
OKEx, Bibox, KuCoin, IDEX, Coinsuper, Gate - which of those you would prefer to see your token get listed on?
anonymous poll
KuCoin – 130
👍👍👍👍👍👍👍 44%
OKEx – 81
👍👍👍👍 27%
IDEX – 48
👍👍👍 16%
Bibox – 20
👍 7%
Gate – 9
▫️ 3%
Coinsuper – 8
▫️ 3%
👥 296 people voted so far. Poll closed.
anonymous poll
KuCoin – 130
👍👍👍👍👍👍👍 44%
OKEx – 81
👍👍👍👍 27%
IDEX – 48
👍👍👍 16%
Bibox – 20
👍 7%
Gate – 9
▫️ 3%
Coinsuper – 8
▫️ 3%
👥 296 people voted so far. Poll closed.
Rchain Drama ELI5
PS: thanks to @c0mm0n and @Daryllautk for raw info
- Greg Meredith (CEO of R-Coop) hired external devs (Immersion) to work on Rsong, agreeing to pay $23m
- They have a $6m payment due coming up, and Rchain has a major cash crunch
RSong, their music thing: https://drive.google.com/file/d/1S5be3cnHMe30gZRjEUqToQc5IkJ9po5s/view
PPS: I usually post porn, so making actual content is unintuitive to me - if there is something I missed, let me know 💁♂️
PS: thanks to @c0mm0n and @Daryllautk for raw info
- Greg Meredith (CEO of R-Coop) hired external devs (Immersion) to work on Rsong, agreeing to pay $23m
- They have a $6m payment due coming up, and Rchain has a major cash crunch
RSong, their music thing: https://drive.google.com/file/d/1S5be3cnHMe30gZRjEUqToQc5IkJ9po5s/view
PPS: I usually post porn, so making actual content is unintuitive to me - if there is something I missed, let me know 💁♂️