futuref0rm

futuref0rm.eth | 🌊

Soon-Wei • 余荪崴

[CryptosRus @CryptosR_Us]

JPMorgan CEO Jamie Dimon: “If I was the government, I’d close it down.”

JPMorgan today: “We now accept $BTC as collateral.”

You can’t make this up. 😂

[futuref0rm @futuref0rm]

Sold

[futuref0rm @futuref0rm]

Solcard

[Akshay BD @akshaybd]

Solana x Gemini credit card

Pumped to support the launch of this co-branded credit card

- earn up to 4% back in SOL on purchases
- auto-stake rewards for up to 6.77% yield on their SOL
- drop a thanks to @saad_2810 for driving this on their end

[Molly @bigmagicdao]

You’re supposed to exit your Bitcoin betas (shitcoins, treasury stocks) on the way up , not round-trip them and get emotionally attached. Dont forget you buy them as leverage plays to outperform Bitcoin to stack more Bitcoin.

And repackaging them into some new ‘treasury wrapper’ and calling it ‘Bitcoin Square’ is next-level retardation , and believing in it is even more hopelessly retarded.

[futuref0rm @futuref0rm]

Major Flush #liquidated

[Cobie @cobie]

Probably one of the most severe flushes I’ve ever seen on alts, I didn’t even imagine alts had this much leverage in them. It feels like someone got hit very hard and will see a large body float to the surface soon, reminds me a little of summer 2021.

Good reminder to myself to own things that I am actually bullish on, and not things I am trying to shift on momentum. Some charts look like they’ll never recover, whereas some things look buyable for the first time in a while.

When everyone is making hilarious amounts of money I am always tempted to start using leverage again. It is almost impossible to fight the feeling that you’re not making enough, or everyone else is outpacing you. Good reminder that fighting that feeling and avoid the wipeouts is worth it in the end.

Check on your friends, likely a bad day for many.

Personally, am concentrating my bags into the things I am happy to own for the next few years, and shedding the fat. Realised I own some assets based on not wanting to miss out, rather than on some actual thesis. Days like today are much easier for me if I think my bags will bounce back, and much worse if I’m losing money owning things I don’t even believe in.

Don’t let a leverage blowup dictate your long-term views. The future is bright, good things to come, patience is rewarded.

嵐の後

[Ash Crypto @AshCrypto]

Covid crash: $1.2 Billion in liquidations

FTX crash: $1.6 Billion in liquidations

Today: $19.16 Billion in liquidations

This is Biggest liquidation event in history of crypto and almost 20x bigger than the Covid crash of March 2020.

[Coin Bureau @coinbureau]

🚨BREAKING: Crypto liquidations soar to $9.4 BILLION in 24 hours – the LARGEST single-day event ever.

Bigger than LUNA. Bigger than COVID. Bigger than FTX.

We just witnessed history.

[lynk @lynk0x]

Crypto bros will be up $800K but still live like this.

[lynk @lynk0x]

Average crypto trader:

Bank account: $50.78

Phantom: $6,897,934

[futuref0rm @futuref0rm]

📈

[Tekee @Tekeee]

Are you ready?

Uptober is coming.

[Gael Monfils @Gael_Monfils]

I’ve got something to share with you.

[futuref0rm @futuref0rm]

🏃‍♂️

[Puru Saxena @saxena_puru]

"We're going into an easing cycle" - Scott Bessent

Rate cuts during this AI boom should trigger a strong multi-month rally, especially in growth stocks which are very sensitive to changes in the discount rate.

[Adam Livingston @AdamBLiv]

Normies think Bitcoin is “too risky” while they chase 2% “high-yield” savings, rack up 24% credit-card interest on brunch mimosas, and lease SUVs the size of studio apartments to commute to jobs evaporating under AI.

Opt out of this absolute madness.

[Saifedean Ammous @saifedean]

No, you did not miss the bitcoin train.

We are just getting started.

Just because bitcoin went up a lot does not mean it cannot go up a lot more. On the contrary, the more it goes up, the more it demonstrates product-market fit, the more likely it is to go up.

Bitcoin is different from stocks, bonds, and commodities because it has a much, much larger addressable market. Let's compare:

Apple's total addressable market is 8 billion people who can own an iphone and laptop. A lot of them already do, and a lot of them are too poor, so there's just not much more room for growth. Maybe Apple can increase by 5x, or 10x, but it would need to introduce new products that are wildly popular to do so, which is very difficult. Ultimately, an Apple stock is a claim on cashflow, and it is priced based on expectations of Apple cashflow, and it is not easy to continue to increase cashflow once you're a trillion dollar company.

But bitcoin is money, and its total addressable market is all of the planet's cash balances, which currently include something in the range of $100 Trillion in physical government cash and checking and saving bank accounts, plus ~$120 Trillion in government bonds, ~$22 Trillion in gold, and arguably, a chunk of the world's real estate and stock markets, which people are holding to beat inflation, and not to take risk in search of return. All in all, bitcoin's Total Addressable Market is in the range of $200-300 Trillion, which is about 100 times larger than what it is now. All of these assets are trash compared to bitcoin, and there is no reason for anyone intelligent to hold a significant position in them. Everything held in these assets has lost ~90% of its value against bitcoin in the last 5 years, and will likely keep losing another 90% every few years. The only things maintaining significant demand for these assets at this point are their holders' old age, intelligence deficiency, and susceptibility to government propaganda. They can continue to hold these assets as they decline, making them poorer, or they can shift to bitcoin and start getting richer. Either way, and regardless of what they do, the world's wealth is going to end up in the hard money, and not in the obsolete moneys of the twentieth century.

Bitcoin has no cashflow to price it. Most nocoiners think this makes it a ponzi, but that is only because they have never experienced real money, and only have as a frame of reference the hot potato trash fiat money which everyone smart tries to exchange for hard assets as soon as they can. They are incapable of understanding people demanding to hold money for its own sake, for its ability to hold value, and not for cashflow. This is how gold became the money of the world without generating any cash flow, and this is why bitcoin, which is infinitely better money than gold, is going to continue to monetize and grow.

Nonetheless, bitcoin's demand is highly variable, and with leverage, it will likely continue to be significantly volatile for the foreseeable future, so always keep in mind that it could decline significantly, and manage your position accordingly.