FortuneApes 🍌

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[FortuneApes 🍌 @FortuneApes]

A friend just told me that BAYC is overrated. What do I tell him?

[Om Patel @om_patel5]

stop spending money on Claude Code.

Chipotle's support bot is free:

[Cobie @cobie]

When ppl claim this I always wonder how they think it happens, or have unrealistic expectations on how much $1bn actually is.

I joined crypto with $200. If I held my initial bitcoin since then and never traded, I would have ~$300k.

If, instead, from that moment I sold the top and bought the bottom of every crypto cycle on Bitcoin, and never paid any taxes, I would have ~$6m USD.

If I put my entire net worth into the Ethereum ICO and never touched it, today I would have ~$150m pre-tax.

While it was definitely possible to have made >$1bn with the opportunities in the market, these versions of reality would also require me to make no mistakes, and have no need to spend $ in real life, or take excessive risk via leverage.

In reality, I grew up in a working class family. I didn’t have a trust fund and I had to pay off my student loan myself. I had a job at Tescos while at high school. After university, I needed to pay rent and fund cost of living and eventually buy a place to live.

I worked at startups for relatively little $ salary, and while a couple have done okay, they still are illiquid and worth nothing until some exit.

Perhaps if I erase a couple of dumb mistakes and drawdowns, or if I had a lil more grind, then my answer would be different today. But it is easy to say this with perfect hindsight vision. It’s easy to see where you could have optimised better, and decisions you made look dumb when the past makes things so obvious.

The truth is I have always optimised for enjoying my life and not going to 0. I never felt like I had a safety net, so it was never possible for me to do anything in any other way. I would probably have less money if I had tried to add more risk or chased $ harder, because being all-in with your entire livelihood is a mental battle and I feel I only win that battle when the stakes are lower.

In writing this, maybe I do understand why CT folks believe this, because modern CT sees crypto as a late-stage lottery ticket farm, where the optimal strategy is to 5x leverage up your portfolio in a hope of catching a good 20% move and then leaving. Or, literally going all-in on the next coin they heard Ansem is buying. So perhaps to them, looking back at the charts, of course that’s what successful folks did.

In reality, I use leverage close to never (and typically to reduce risk rather than add risk — have used it to add risk maybe 3 times in the last 5 years, and maybe 15 times ever). I never go all-in on anything, have only ever done that on BTC and ETH before in the last decade. When I buy other things, I limit risk to tiny amounts, because I treat it as a 0 until proven otherwise (so, always <1% liquid portfolio). Liquid portfolio is also a smaller % of overall portfolio to future-proof against my own fuckups.

Obviously I made a lot of money, I have been here 12 years! CT doesn’t want to hear about “getting rich in a decade” though. I am happy with where I am and have never really cared or optimised for maximising $ earnings, but instead having a nice life that lets me enjoy the game we play together.

[Doug Colkitt @0xdoug]

1/ Since a lot of people are waking up to see their perps positions closed and wondering what the hell “Auto-Deleveraging” means, here’s a quick and dirty primer.

What is ADL? How does it work? And why does it exist?

[Daniel Priestley @DanielPriestley]

10 things that shocked me about my debate with @garyseconomics

1. He didn’t share any facts. Not one. He wants us to accept his entire philosophy on feels. When presented with data he jumps to “I’m always right betting on the economy”.

2. He didn’t know the difference or distinguish between income and inheritance. He described inheritance as income and wanted to tax it the same as income… even though it’s money that has already been taxed once already!

3. He thinks that Rishi Sunak is worth £700M and it should be taxed now even though this number related to his father in law’s foreign company. In Gary’s world, if you marry the daughter of a wealthy foreign national, the UK Government should be able to seize some of that families money. Also, owning a stake in a technology business was described as “hoarding wealth”.

4. Almost all examples he gives about “wealth” are where he imagines someone owning houses with no debt and no costs of running them and they all make 5% yield clear. In reality, hardly anyone rich owns a large number of debt free houses that spit off 5% “passive income”. Most billionaires own companies that comprise of intangible assets that can be relocated elsewhere.

5. He barely knows the difference between revenue, profit and assets. When I explored how to tax billionaires, his answers jumped between them indiscriminately.

6. He believes the cause of wealth inequality is … wealth inequality. A measurement can not be the cause of that measurement. Other than being born rich, Gary doesn’t acknowledge any underlying causes such as technology or the type of work someone does As playing a role in why people get different financial outcomes in life.

7. He seems to think all jobs should pay the same. A “grime poet” should be earning the same as someone working in finance. There’s no good or bad choices, it’s just unfair that some people end up richer than others.

8. He seems to think the only thing responsible for an affluent middle class from 1950s to 1980s was high taxes on the rich. He doesn’t take anything like labour shortages, massive post-war rebuilding efforts or a baby boom into consolidation.

9. Suggesting people have personal agency (or go—forbid, responsibility) isn’t a topic he’s comfortable with at all. Sharing statistics about the high levels of self-made millionaires doesn’t wash. Gary robs people of agency with his belief that you either have a rich dad or ”99.9% of the time you wont achieve financial security”.

10. The ONLY way to improve the economy is through higher taxes on wealth. He sees no downsides to this and genuinely thinks capital flight isn’t a real Consideration.

As much as I respect Gary’s passion and dedication, I feel like he has a very low resolution knowledge of the topic he wants to advise the country on. I feel like it’s just a deep anger about unfairness of outcomes when it comes to money.

[FortuneApes 🍌 @FortuneApes]

@HollanderAdam I do that too but with black tees. I’d be worried what happen after 8 years 😂

[Miles Deutscher @milesdeutscher]

I never thought I'd be saying this – but I round-tripped millions from my portfolio ATH in 2024.

Here are 10 hard lessons I learned.👇

[Pop Cats @popcatsssss]

GIVEAWAY!!!

Every week, @mattchessco paints a lucky holder's Pop Art Cat.

To enter: Like, RT, Follow us, Post an image of your Pop Art Cat in the comments.

Announcing the winner in a few hours.

[FortuneApes 🍌 @FortuneApes]

@popartcats @mattchessco Need

[Pop Cats @popcatsssss]

GIVEAWAY!!!

Every week, @mattchessco paints a lucky holder's Pop Art Cat.

To enter: Like, RT, Follow us, Post an image of your Pop Art Cat in the comments.

Announcing the winner in ∼24 hours.

[FortuneApes 🍌 @FortuneApes]

@popartcats @mattchessco Still watching the world burning!

[FortuneApes 🍌 @FortuneApes]

@popartcats @mattchessco Watching the world burn Pop Art Cat! 😂

[Pop Cats @popcatsssss]

GIVEAWAY!!! 

Every week, @mattchessco paints a lucky holder's Pop Art Cat. 

To enter: Like, RT, Follow us, Post an image of your Pop Art Cat in the comments. 

Announcing the winner in ∼24 hours.

[FortuneApes 🍌 @FortuneApes]

@LuxuryWatchGuy1 1

[FortuneApes 🍌 @FortuneApes]

Anyone knows what happened to @AdamBombSquad discord? It’s been gone for awhile

[Josh Gessner @joshgessner]

Navy SEALs are the most elite warriors on Earth.

Here's one thing their taught early on...

The Backwards Law (how to get what you want by letting go):

[MATT GRAY @matt_gray_]

Harsh truth I wish I knew at 18:

Getting a degree is a complete waste of time.

I make $13.8M/year from my businesses without needing mine.

Skip the degree and learn these 27 sentences instead:

[Ted Ryce @ted_ryce]

The biggest excuse people make:

“I don’t have time to go to the gym.”

I’ve been a health coach for +25 years.

Here are the only 9 exercises you need to get ripped at home (steal this workout):

[Library Path @LibraryPath]

15 Powerful Quotes about Psychology and Life:

1.

[Wolf of X @WolfofX]

The ocean is shrouded in mystery. It covers about 71% of the Earth’s surface, yet we know very little about it when you consider how vast it is - A Thread

1. This fisherman with a deep sea Wolf Eel

[Ryan Detrick, CMT @RyanDetrick]

Breaking Bad as the #1 show ever is right. The Wire at #6 feels off.

And how isn't 24 on here? When Jack Bauer was saving the world there was nothing better.

What do you think?