Many had setup bots to instantly buy whatever CA Kanye tweets

— And got wrecked this morning when $YZY shot to $180M,

Because many others had done the same

Often the techniques that seem to normies like they’d be a great idea turn out terribly

This was one you really wanted to buy way ahead, not after he tweeted, not even 1 second after, at least for now

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Wild that there just doesn’t seem to exist any charts of the returns distribution of crypto perps / CFD user returns

(Crypto perps are a type of CFD)

Why doesn’t this basica info exist?

(1) Probably because it looks HORRIBLE, so obviously the CFD & perps exchanges don’t want it getting out

(2) ??? — Someone should’ve done it by now though, because Jupiter & Hyperliquid put the raw info onchain for anyone to collect and chart

Why has no one done it??

Screw it, tired of waiting for someone else to create these charts

I’ll create them myself right now

Sorry day trader course sellers if this wrecks your side hustle

Long had a hunch that the zero-sum perps have been syphoning away billions of the most valuable at-risk capital, into the pockets of the perps exchanges, and wrecking crypto far beyond how much anything else is

Let’s find out

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Dune charges $25 just to download the pre-computed Jupiter user PnL data, smh

But looks like I got it

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$PWEASE been gradually ratcheting up

Does it have the staying power to go to the moon?

Or doing the death caterpillar?

Macro will help decide

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Guy apparently pulls a The One Ring Magic card worth $2,600,000 and took this video before sending it off to be sold

— In doing so, somehow achieving higher PnL than every single trader on HyperLiquid, and higher than all but one trader on Jupiter perps

With this one card

It’s not just you, perpetuals are shockingly bad, by design, for everyone but the exchanges

The mythical trader who’s great enough to excel at perps, in a way that rivals spot bets, simply does not exist

The blockchain does not lie

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Someone instantly lost $700k because he used a bot to buy whenever Kanye tweets a CA

Why?

Because they were wrong that whatever Kanye tweeted would explode?

No, he was right about that

Why $700k lost then?

Because everyone else was doing the same

Conformity gets you wrecked in markets, even when you’re broadly right

Contrarian is key

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Vitalik to $ETH holders who held through the $ETH bear

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