bigtown

Slave to the ecosystem | Obsessed with macros and macro | #GSF

[bigtown @bigtowncrypto]

ICYMI

Follow my new X account y'all

@bigtown_xyz

[Michaël van de Poppe @CryptoMichNL]

#Bitcoin being less than 20% away from its all-time high 55 days before its halving.

It’s an epic run, already.

[Rajat Soni, CFA @Rajatsoni]

We're closing in on an ALL TIME HIGH IN #Bitcoin's USD price, and most people aren't paying attention

[bigtown @bigtowncrypto]

Cool visual explaining exactly what AggLayer tries to achieve. Unreal!!

[Polygon @0xPolygon]

Agg Mode: Enabled

swerve wrapped assets, awkward bridging and bad UX

This is how you level up with the AggLayer.

[🔥Reverend Aiden @SweetFnLucifer]

There is a zero percent chance that the bromance between Vince McMahon and Donald Trump didn't revolve around sex trafficking and criminal acts of depravity. I'd bet my life on it. You damn well know they traded victims like Pokémon.

[Crypto Maxi @cryptoMaxi420]

This about to change to STAGE 2...
People do not know whats coming

[redphone ☎️ @redphone]

Dear bankers and TradFi execs,

Look to your left. Look to your right.

Many of your employers won’t be here in a decade.

They’ll go bankrupt, get acquired, or perhaps… they’ll be one of the few that evolves rapidly enough to embrace tokenization and end up thriving.

Fink, of course, says everything will be tokenized. Us crypto natives have been saying the same for more than a decade now. We’ve been saying it so long, in fact, that it’s positively boring. It’s so utterly inevitable and clear as glass that it’s not really worth wasting breath on anymore.

We’ve moved on to far more interesting discussions.

Perhaps the most interesting at the moment is whether you’ll choose to tokenize your assets on public blockchains like Ethereum or permissioned chains managed by say a consortium of banks.

Honestly, I don’t envy you.

You’ll be forced to make this decision in what will feel like too short a time – especially for your execs who haven’t bothered to self-custody a single satoshi in their lives.

Good luck understanding and forming opinions on crypto if you haven’t used it…

In fact, if you’re reading this and you haven’t self-custodied crypto yet, I ain’t mad or in disbelief. I just feel sorry for you. You’re that once-fine-looking horse who’s now in the back of a trailer with chipped nails and yellow teeth as you bump down the road to the glue factory.

But that can’t be YOU, right? You’re a financial professional, after all. You literally get paid to be at the forefront of fintech…

So surely that means you’ve experienced the delicious nervousness of sending $100k over the internet in seconds via an irreversible transaction…

You’ve watched that same transaction get confirmed with wonder on a public blockchain explorer?

1 confirmation…

2 confirmations…

3 confirmations…

Surely, you’ve connected MetaMask and swapped on Uniswap?

Surely, you’ve borrowed money on Aave?

And, above all, I’m certain you’ve looked at a string of 12 or 24 words… or held a Ledger in your hand… and marveled at the fact that this is all that’s needed now… that this tiny thumb drive replaces what once required steel vaults, brick walls, armed guards and bankers to protect?

Of course, you have…

So, let’s get back to the question at hand: public chains or permissioned chains?

Here’s one clown’s vision:

Both approaches will be attempted. Permissioned chains will win in the near-term. Public chains will win in the long-run.

I say all this because

1) I’d recommend you simply skip the permissioned chains and accept the inevitable; and

2) I look at what’s happening in finance, and I don’t see a slow evolution… I see tokenization as the beginning of a moon race.

Icons will fall.

New titans will rise.

This is the moment, sers, where legends are made real…

It’s the story of Vanderbilts, Carnegies and Rockefellers all over again… of bold young humans who smell change, and don’t run from it or fight it, but lean so hard and aggressively into it that they birth new dynasties.

In fact, I think we already know some of the names that will dominate the next hundred years of finance… they’re names like Coinbase and Circle. And they’re names of the stalwarts who already see the writing on the wall… the BlackRocks and Fidelitys.

The rest aren’t simply in danger of falling behind. They’re in danger of extinction.

The advantages of tokenization are so great that our regulatory frameworks literally can’t handle them. We have to put on leather and degrade and violate crypto to even force it to accommodate archaic concepts like clearinghouses.

Crypto’s advantages aren’t 2 or 3x better than what exists today, they’re 100x. They’re printed newspapers vs. Twitter. They’re photographs vs. film.

They’re internet native in an internet age.

Anything else is dead.

And in the end, public blockchains are dramatically superior to gated permissioned chains.

Permissioned chains serve subsets of humanity. Public chains serve the world.

Permissioned chains win jurisdictions. Public chains win worlds.

A few execs will realize what’s happening, of course. They’ll be the sort to mandate that every single one of their employees do a swap on Uniswap, take out a loan on Aave and buy an NFT. They’ll hire some badass blockchain engineers to build this stuff out, and they’ll tokenize hundreds of billions of dollars every year for the next few decades.

They will print money and buy golden toilets.

Others will swirl like the 💩 in those bowls.

And when they finally realize it’s time to pivot, they’ll have such bad, antiquated reputations that they won’t even be able to hire reputable blockchain engineers. Then, they’ll get talked into running pilots on EOS 🤣

Eventually, they’ll wake and realize they failed their companies and their missions. They’ll realize that they weren’t in the industry for financial innovation… but for financial protectionism, for gatekeeping and status quo, for clinging to what’s worked for five generations (five generations btw that didn’t grow up w the internet).

Hopefully in the end, though, they’ll realize it wasn’t that the world changed and blindsided them (the world is always changing, after all), but rather that it was them who’d become afraid to change.

Sincerely,
☎️

[bigtown @bigtowncrypto]

@exiledracers #pinkracingleague @The_JesusCrust

[Kaizen @KAIZ3NS]

tradfi already down 15% on bitcoin, welcome to the show.

[bigtown @bigtowncrypto]

If I had his power I'd have rekt FTX to dump the markets to buy up cheap too, ofc he's a massive moonboy

[intern @intern]

it sounds like Larry Fink got racked with his absolute boys last week, had an epiphany about crypto and is now fully entering the crypto rabbit hole

[John Knopf @johnknopf]

Been watching @0xPolygonLabs’ Matic for quite a while, and I’m genuinely curious about their developments this year. Their approach to scaling ETH through Layer 2 solutions is not just innovative, I think it’s crucial for broader blockchain adoption. Anyone in the Polygon community I should be following?

[bigtown @bigtowncrypto]

As I said, they will be dumping #BTC and buying up #ETH for impending ETF.

Does anyone know what exactly they're selling their BTC for?

[alle @cryptoalle]

went to check the Grayscale wallet after they sent $200m to coinbase and caused this market diarrhea

im not feeling well bros

[bigtown @bigtowncrypto]

So we know they bought up BTC and are now selling up; logical assumption is that they're now buying up ETH then, considering discussions about ETH ETFs are popping up already.

Consider that over the next few months! #BTC #ETH

[Farside Insights @FarsideInsights]

ETF Day 1 Flow - UPDATE

Finally the GBTC number is out. GBTC has $95m of outflow

Total net flow for the day into the new ETFs was $625.8m

Bitwise was the victor for day 1

[John W. Rich (Wealthy) @Cokedupoptions]

Cathie Wood has a $600,000 price target for Bitcoin

Here’s the advanced research tool she used to conduct her analysis

[Bit Paine ⚡️ @BitPaine]

If I have to pay a boomer 10x what he paid for his house, he can pay me 1000x what I paid for my #bitcoin.

[bigtown @bigtowncrypto]

I also lost half a million thanks to the @SECGov, I would also like a refund please.

Tagging @GaryGensler too, I hope he can sort me out like he would his insider Govt. buddies...

[WF @WhaleFUD]

JUST IN:

Fox Corporation, a media corporation managing brands such as Fox News, has launched a blockchain-based platform on Polygon called Verify.

[Andrew Tate @Cobratate]

There is zero #metoo movement reaction to hundreds of girls being raped on Epsteins island.

Why? Because they dont care.

Theyve never cared about women.

The #metoo movement exists solely to destroy the reputations of men who refuse to sell their soul to media protection.

[Ash Crypto @AshCrypto]

Bitcoin spot ETF will get approved.

This is the typical shakeout to flush
all the longs so we can pump higher.

I’m holding all my spot bags not selling
My BTC or ETH to blackrock. Trillions are about to flow in crypto & you think
$45k is the top.

Bitcoin is going to $100k