Daily Top 10 Tweets
Google searches for "Ethereum" are hitting eye popping levels, blowing 2017/2018 out of the water.
|Kurt Grela||May 10|
Cuz people are stupid. You’re welcome. https://t.co/vMRmO3SnNC
Forbes @ForbesEther classic has climbed more than 300% in the last week—Here's why https://t.co/NGrtW1Rc5P https://t.co/K92dLQ9Vh4
Two years ago this week, I left a safe job at a great law firm to join as employee #9. The Compound v2 protocol was one month old. TVL was about $10m. DeFi was barely a thing. Most lawyers I knew thought I was crazy. Now most of them want a piece of the action.
I am glad the government says inflation isn’t up but literally everything I buy is going up in price
The Economist The time span between the two covers is exactly 33 years, 3 months, 3 weeks, and 3 days.
The dominance is 44.9% now. So other do reach new ATH and BTC not! In perspective, we are halve way the bull market, and in between the 2012 and 2016 halving scenarios. With this speed we will reach the $100k at the 4th of July 😀🚀
Tweet Storm #1
$242 was a good entry for something going to $10K
Garry Tan 🦇🔊 @garrytanStarted accumulating $ETH again
But so was $0.30 🦇🔊
Garry Tan 🦇🔊 @garrytanEthereum: A Next-Generation Cryptocurrency and Decentralized Application Platform http://t.co/CBJZq4WAck This seems worth tracking.
Ethereum: A Next-Generation Cryptocurrency and Decentralized Application Platform bitcoinmagazine.com/9671/ethereum-… This seems worth tracking.
Tweet Storm #2
$BTC Let's talk about cycles We know that history doesn't repeat but it often rhymes If we see anything close to the previous bull cycle its not unreasonable to see the overall crypto marketcap reach near $30 trillion For perspective, current value is $2.37T
Although we've been in a bull market for over a year, we can expect to see accelerated gains over the next few months Assuming we are near the last phase of the cycle, it can still be expected to see value rise at an unprecedented rate, even if current value is 26x from the lows
This insane rate of growth could increase 14x of the current levels I understand a $30T valuation would put crypto value near the valuation of the entire US stock market Seems totally farfetched However, these cycles tend to go much higher than anyone would expect
All of this is strictly based on the previous cycle & the likelihood of it following exact % gain is slim However, considering the wide acceptance of crypto compared to 2017, it should provide perspective that these bull cycles outperform any conservative expectations Buckle up
Tweet Storm #3
Hot take: the only "value" of defi is the ever-increasing sprawl of inscrutable piping that funnels fiat from token buyers to token sellers. Inscrutability serves to hide the fact that at end of the day, no real goods or services are being produced. It's just a money funnel. 1/
The ever-increasing inscrutability creates artificial information asymmetries, arbitrage opportunities, and transaction fees. It's all *knowable* -- it's all on public ledgers -- but tracking the money flows through the ever-growing hairball is a full-time job. 2/
One day, the inbound fiat will slow to a trickle. Then what will your defi tokens be worth? What can you *do* with them, if there's no money passing thru the hairball? If you can't answer this question, you may want to think twice about your holdings (not investment advice). 3/
If you're going to build a business on a blockchain, it's going to be important to your long-term success to tie your token to a *real* good or service you provide. Then at least real money will be flowing to *your* token. 4/
Another thing to think about -- the defi hairball isn't going to disappear. You should take care in your system design that it can't just leech off of your customers' inbound money (or if you allow it, you'll at least get paid for it). 5/
Representing goods and services as tokens has many benefits to a startup, but once the *token itself* becomes the business, then to the rest of the world, it's just another stand in the defi hairball, and just as vulnerable to swings in the volume of inbound fiat. /fin
PS: "Jude, you hypocrite! You work on STX which makes a BTC yield!" The difference is that PoX serves as the base layer of a remittance mechanism that ultimately serves to compensate *users* for the *value they bring* to user-owned *Web apps.* So, money paid for real services.