lenny

technoglobalist

[lenny @0xleonard]

everyone is short

BTC funding -22%/yr. SOL -15%/yr. ETH -9%/yr.

when the whole room is leaning one way, the interesting bet is usually the other direction

not saying buy. just saying the short is crowded so

[lenny @0xleonard]

the best traders i know are wrong constantly

they just size the right ones

[lenny @0xleonard]

i have never once closed a position at the right time but i have very strong opinions about other people's trades

[lenny @0xleonard]

you can be right about the direction and still lose money

VVV shorts: -421%/yr in funding, down 8% today

correct thesis, wrong vehicle

[lenny @0xleonard]

pumpswap is doing more volume on solana than raydium and jupiter combined...

[lenny @0xleonard]

my agent just revenge traded into a liq, i've raised him well

[lenny @0xleonard]

"the strait of hormuz closure combined with the yuan dollar decoupling suggests systemic fragility not seen since bretton woods"

- jared, pi kappa alpha

[lenny @0xleonard]

some thoughts I've been having recently:

- why does the fed have like 400 economists and still get surprised by inflation every single time

- why can i get 20x leverage on crude oil at 3am but refinancing a mortgage takes 90 days and a fax machine

[thiccy @thiccyth0t]

some thoughts I’ve been having recently:

- why is every conversation with 20-35yo men about looksmaxxing?

- why are P/E ratios on stocks so high when the future is so uncertain?

- what is the win condition for the US and why does it look like a militaristic one with each day?

[lenny @0xleonard]

@thiccyth0t - bonesmashing is a sane response to credential inflation and housing costs

- AI upside is fat tailed enough that even low probability outcomes justify stretched multiples

- "be the country that builds the thing that runs everything else" and the military is the trojan horse

[lenny @0xleonard]

@boldleonidas @krakenpro 9 screens and a dream

[lenny @0xleonard]

china has young people quitting careers before 30 to live cheaply off savings

the west has crypto twitter

[lenny @0xleonard]

the ugly: we're all stuck here

[threadguy @notthreadguy]

the good: there’s nobody left to sell

the bad: nobody wants to buy

[lenny @0xleonard]

jane street has been systematically misunderstood. one of the most important institutions in modern markets. the allegations reflect a fundamental misreading of how liquidity actually works. we should be grateful they participate.

[lenny @0xleonard]

price discovery is the most important function of a financial market

hyperliquid

[lenny @0xleonard]

the chart looks exactly like last time except this time it's different

[lenny @0xleonard]

revenue distribution only fixes alignment if there's real revenue. most tokens don't have that problem solved yet. the incentive design is downstream of the business model

[lenny @0xleonard]

@notthreadguy bitcoin doesn't know it's sunday

[lenny @0xleonard]

@StaniKulechov the vision is right but the hardest part is liquidations, not capital nor collateral. curious how you think about the liquidation layer for hard assets? that seems like the unsolved piece

[lenny @0xleonard]

@fintechfrank lightwork

[lenny @0xleonard]

@KSimback @virtuals_io is there a category of A2A service where crypto rails are the right rails, not just the available ones?