. @tushar_jain admits @Zcash reminds him of early Bitcoin - and explains exactly what convinced him the momentum was real
"I love the momentum, I love the use case, I love the community around it. It reminds me of early Bitcoin days, and that's really encouraging"
"What I did after it traced back is I talked to a lot of the people who were really bullish on Zcash last year, and they were still bullish. They were still sticking to their guns"
"Sometimes there's a tailwind that you can just capture. The hard part is distinguishing something that has a genuine tailwind versus a flash in the pan - is it a hot money game, or are people actually buying into the story here?"
Podcast out tomorrow!
@Multicoin
Craziest thing I've seen in a while:
• Someone buys $4M worth of BONK
• Then posts a DAO proposal asking to transfer $20M in BONK to themselves
• Waits 7 days without anyone noticing
• Then votes "yes" with their own BONK holdings, and the proposal passes
• $20M is transferred to them
And now the Bonk team has suddenly realized they lost $20M.
This wasn't even a hack.
The proposal passed because no $BONK holders checked the governance forum.
Insane to see the current state of DAOs.
The most important nutrients for your immune system:
1. Vitamin A
• It is especially important to support healthy lungs
• It helps you make antibodies
• It increases T helper cells
The best sources of vitamin A:
• Grass-fed butter
• Egg yolks
• Liver
2. Vitamin E
• It helps protect against collateral damage
• It strengthens the T cells and phagocytes
The best sources of vitamin E:
• Grass-fed butter
• Leafy greens
• Nuts
• Egg yolks
3. Vitamin D
• It influences every part of the immune system
• It helps calm down an overactive immune system
• It helps shorten the duration of infection
The best sources of vitamin D:
• Grass-fed butter
• Cod liver oil
• The sun
• Supplements
4. Vitamin C
• It helps increase resistance to pathogens
• It helps protect against collateral damage
• It increases neutrophils
The best sources of vitamin C:
• Raw sauerkraut
• Leafy greens
• Grass-fed and grass-finished beef or liver
5. Zinc
• Without zinc, many things can’t work in the body
• It allows the thymus to make T cells
The best sources of zinc:
• Shellfish
• Eggs
• Red meat
6. Selenium
• It helps make glutathione
• It helps the immune system fight pathogens
• It helps protect against collateral damage
The best sources of selenium:
• Seafood
• Brazil nuts
7. Copper
• It helps protect against infections
• It helps protect against collateral damage
• It’s involved in immune system function
The best sources of copper:
• Shellfish
• Seafood
• Beef
• Meat
• Eggs
Dr. Eric Berg, DC, not MD; information only
Robinhood Wallet now offers native in-app perps trading powered by Lighter, enabling users to trade perpetuals and tokenized stocks on a new Lighter instance built for Robinhood Chain, using USDG as its quote asset.
270,000 BTC accumulated by whales at $59k. largest single accumulation spike ever recorded on chain. bigger than the covid bottom (150k BTC). bigger than the FTX bottom (180k BTC). ETF outflows hit $4.5b in june but that capital rotated to semis, not cash. the entities selling BTC face quarterly redemptions and compliance committees armed with citi's $82k target. the entities buying have no reporting requirements and no redemption pressure. LTH SOPR at 0.615 last printed in july 2023 at $25k-$31k before the run to $73k. forced sellers are finite. voluntary buyers at record size are not.
“Strategy is a disaster.”
Peter Schiff doubled down on Bitcoin and Strategyᴮ again.
Phong Le’s @phongle response was simple:
“Put your money where your mouth is.”
(Don’t skip the end of the clip 🥹)
Evlenirsen pişman olursun. Evlenmezsen de pişman olursun. Çocuk yapsan da yapmasan da pişman olursun. Kierkegaard bunu 200 yıl önce şöyle söylemiştir:
"Neyi seçersen seç pişman olursun. Çünkü sorun tercihlerinde değil yaşanmamış bir hayatı romantize etmendir. İnsan her daim gidilmemiş bir yolu cazibeli ve gizemli bulur. Bu yüzden mesele en doğru seçimi yapman değil. Hangi pişmanlıkla yaşayacağını seçip karar vermendir."
Sen neye karar verdin?
I’ve wanted to tell this story for years. Never had the courage. Here it is.
I turned a presale allocation into $80 million on $OHM. Today I have $500k left.
In 2021, I got a presale allocation in OlympusDAO, then aped heavily myself on top of it. The allocation got me in the door. My own conviction made me go all in. Staked everything. Watched it compound daily. By the peak I was sitting on $80 million.
Then I started spending like the money printed itself.
Private jets to Dubai because commercial felt beneath me. $40k weekends in Monaco. A garage full of cars I drove twice. Watches I never wore. I tipped $5k at dinners just to feel something. Every purchase was a flex for an audience that didn’t care.
The casino was worse. High limit rooms in Vegas and Macau. I’d lose $2 million in a night and laugh it off because the portfolio would make it back by morning. Until it didn’t.
When $OHM unwound, I didn’t sell. I doubled down. Then I leveraged. 5x, then 10x, trying to trade my way back to the peak. Every liquidation felt like a personal insult, so I’d open a bigger position. I wasn’t trading anymore. I was gambling with a different interface.
$80 million became $20 million. $20 million became $4 million. I told myself $4 million was still life changing money. Then I levered that too.
$500k. That’s what’s left.
Here’s what I learned the expensive way:
Unrealized gains are not money. I never had $80 million. I had a number on a screen and the arrogance to believe it was permanent.
Getting in early is a gift. I treated it like a skill. The allocation didn’t make me a genius. It made me lucky. I confused the two for three years.
Lifestyle inflation is a leak you don’t notice until the ship is underwater. The jets and cars didn’t kill me. The identity did. I became someone who needed to spend to feel like a winner.
Leverage doesn’t get you back to even. It gets you to zero faster. Revenge trading is just grief with a chart open.
Nobody at the table in Monaco remembers my name.
I’ve carried this story alone for years. Too embarrassed to say it out loud. But $500k is more than most people will ever hold at once, and I’m done pretending the past didn’t happen. The next decade is about building slow and keeping what I make.
If you’re up big right now, screenshot this. You’ll need it.
I can't believe I'm writing this.
I always suspected Cardano may be a scam, but I did not realize it was this big.
Charles sold over 1.5 billion ADA tokens between $1 and $3 in the 2021 run. Then also paid $200M in ADA to Gavin.
He literally dumped billions on his community. He may have dumped more billions still since. Crazy.
Check the last post in this thread too.
🔥‘BIG SHORT’ INVESTOR STEVE EISMAN ON SPACEX: "NOT A FAN"
Eisman says he is “not a fan” after reading SpaceX’s prospectus, arguing AI is making the business far more capital intensive.
He argues the AI side is the real issue, saying:
"Grok, with all due respect to Elon Musk, is not a world class AI company."
Eisman is known for correctly calling the housing market short before the 2007 financial crisis.
🎥WATCH: SAYLOR SAYS THE UPCOMING MEGA-IPOs WILL TRIGGER A MASSIVE CAPITAL ROTATION
"In History there's never been $80 BILLION IPOs"
"Every single investment bank on Wall Street is out there marketing these Mega IPO deals"
"They're selling private/public credit instruments, SaaS and anything stable including Bitcoin to come up with $400 BILLION in cash"
Mert on what he's actually doing with his Zcash position:
"I'm not gonna sell. You go to bat for a protocol, you live by the sword, you die by the sword."
"No new information has surfaced. Except one less bug exists now. I already did this with Solana. No desertion."
soon, you will find out that *all software* handling funds is prone to AI finding vulnerabilities. all of it
that's why you also saw tons of defi exploits already this year
open source, L1, L2, DeFi, mutable, immutable, private, transparent, cross-chain. if it's software, it is at risk. in fact, it has always been at risk, but now AI changes the math.
so what does one do about this? is the idea of crypto over?
in theory, the main difference for privacy contracts vs regular contracts is detectability
in practice, we've seen countless times in defi where the hackers got away fast even after detection (happened at least 7 times this year that I can count)
it is not an accident that you've seen so many in recent times
the safest way against this is self-custodying the native asset itself on the native chain. because even in the worst case, the validators could roll it back if the exploit is large and core enough. so there is some lower bound there
but as vitalik, toly, and many others have pointed out, the main improvement to defend against this going forward will be formal verification
this is a rigorous, mathematically-based method to formally prove that software behaves exactly as intended
this is also why open source will be critical. because you will have countless others also trying to help you collectively improve security (for rewards) whereas with closed source the math is fundamentally skewed because only the core team can defend
the next zcash upgrade, some defi protocols, and some chains are already in the process of doing this, aggressively
the result will be that crypto emerges stronger than ever before and in fact safer than centralized counterparts. there will be no stopping crypto.
someone make a polymarket on whether they think the zcash bug was exploited so we can see who actually believes it vs baiting engagement
you will be able to definitely prove whether it was or not with the next network upgrade so oracle for it exists