This is Richard Dennis.
In 18-years, he turned $400 into $200,000,000.
He wanted to prove that trading could be taught to anyone.
So he started the Turtle Traders program.
Over the next 4 years, the Turtles earned a combined profit of over $100,000,000.
The Turtles story:
.@AriJuels’ new sci-fi thriller novel The Oracle—a story that brings together mythical antiquity, blockchain tech, and oracles—will be published on February 20, 2024.
For in-person book events and more: https://t.co/XE793scy5d
@jeff_4_ever@ScottAdamsSays My GSD is on a barf diet his whole life but he has atopic dermatitis. Ever hear of this and how to treat it? He only stays in house when sleeping because his hair falls out like crazy
The future of assets is tokenized, and the opportunity is huge: Hundreds of trillions of dollars of assets are ripe for tokenization.
Dive deep into the RWA tokenization process and learn why tokenized assets need #Chainlink: https://t.co/ZznC8T7i3W
“If life’s tough, read stoicism. If you want to move ahead in life, read Nietzsche.”
@SergeyNazarov on why he finds reading philosophy useful for understanding how the world works and finding a purpose in life: https://t.co/xqQPN5XyVp
The #RWA trend will only expand to encompass new asset classes.
Real estate could be represented onchain as dNFTs, with payments, identity, and other offchain information all verified using zero-knowledge proofs.
The tokenized future is coming: https://t.co/l0dLJpvs7X
“ETFs are step one in the technological revolution in the financial markets. Step two is going to be the tokenization of every financial asset”—Larry Fink, CEO of @BlackRock on @CNBC.
My Thesis for 2024: LINK is Undervalued
It could not be more clear than it is today - liquidity dictates asset prices. Fundamentally, it is aggressive buyers that push price into passive limit orders above market price which mechanically increases the price of an asset. Valuation models do not magically make the price of an asset increase. They act as Schelling Points for uncoordinated actors to buy and sell asset around specific price levels.
Reflexivity is everything. This is why crypto assets experience drastic price increases. Each cycle we see many assets increase many multiples, as they are traded with substantial volume relative to their market capitalization. This volume is tiny compared to traditional markets, though. It eventually dies down once the market cycle ends, as well.
At some point the legacy financial system, which collectively manages over 870 trillion dollars worth of assets, is going to adopt blockchain technology. I don't know if it is going to occur this cycle, but this is the first cycle where I believe it has a chance to occur.
I present the following question: What happens to the price of a crypto asset when it begins to generate 100m to 1b+ in fees, has outsized trading volume relative to its market cap, and has an increasing amount of locked supply that scales with this adoption?
An asset which experiences true institutional adoption has an upside which is likely an order of magnitude greater than anything we have seen yet in the history of the crypto space.
The SWIFT network processes over half a trillion in transaction volume a day. The DTCC and Euroclear settled over 2.4 and 1 quadrillion dollars worth of securities this year, respectively. They, along with hundreds of the worlds largest banks and financial infrastructures, have partnered with Chainlink to create a new financial system. This new system will be powered by CCIP and other services offered by the Chainlink Platform.
Buying LINK is effectively a 100x out of the money call option betting on this occurring, but without the downside risk of a typical OTM call. If this adoption occurs this cycle, LINK will likely be the best performing (non-micro cap) asset. If it does not occur, LINK will still likely 10-20x from current prices, yet be outperformed by the usual suspects.
No other asset will capture value from legacy adoption. Public chains might end up being utilized by TradFi incumbents, but only to the extent that they will be paying gas costs which are currently getting compressed towards zero. Chainlink, via CCIP, will have exposure to every bank chain, every L1, every L2, every L3, and every app-chain. This is the one chart that matters. The faster you figure that out, the better chance you have to buy in before the singularity occurs.
We are in a liquidity up turn through the end of 2025. If Macro tanks at some point next year, that means liquidity is coming. Don't be scared, buy the dip. Happy New Year!
What if luxury watches were authenticated, tokenized, and transacted onchain?
dNFT owners could verify authenticity, past ownership, condition, and service record in near real-time onchain—leading to greater transparency for all.