Well. Crypto's crashed quite a bit in the past few days, leading up to a GIANT crash (BTC touched sub-$30k!) a few hours ago. It's ticked back up somewhat since, and started bouncing around a bit. What happened?
A thread about lemons and lemonade.
Crypto markets are an A/B test on what happens when you're able to let the markets clear on their own. All the leverage is cleared in one day and a healthier ecosystem is created. The counterfactual to 2008 & 2021 government intervention. Will be fun to watch.
The next generation of airdrops is one that can’t be sold but can only be used as collateral to borrow, giving you a perpetual borrowing credit
The only way to get rid of it is by getting liquidated
Credit as UBI
@c1tpyrc @jebus911 Yes but the basic point is who gives a shit about the distinction between a 90% drawdown vs a 95% drawdown... your wife leaves you either way
5/... take excessive risk. ETH in this context not only represents diversification for them but the safer bet on a decentralized future
DOT/BSC/SOL/etc may not be on the radar for them at this time
4/This makes intuitive sense:
- HNWIs/institutions respect network effects, making ETH an easier sell (follow the dev community vs the more performant tech)
- Their education process is still under way. "Ok I get BTC, how about this ETH thing"
- Institutions are not paid to...