@0xQuit He sold Punks denominated in ETH at 2800 for stables. Even after losing $980. He now has gained 30% more purchasing power if he were to rebuy his ETH.
Turns out Punks and other jpegs denominted in ETH are down bigly in real purchasin gpower.
@JasonYanowitz Correct.
I DO NOT BELIEVE WE SOLVED:
Liq Frag
Scalability
Abstraction
Money
killer app
I BELIEVE:
prices exceeded fundamentals.
Users adoption DAU metrics are BS. every L1/2 Lies on metrics
Bitcoin is liquid macro.
ETH does not solve for mass user adoption.
etc.
Stablecoins
@dfinzer@opensea@openseafdn OpenSea is teh most egalitarian thing we've ever seen. 169x better jpegs than blurb. FDV 20B is fud. i speak for the entire crypto community wen i say we will never stop loving your pretty pictures and high throughput ux. simply the best in class. no one could dream of better lol
@crypto_condom Only way to share a bullish eth chart is to cut out the zoomed out view and find a LTF chart that looks like an uptrend. Hopium is strong on this chart.
@BendDAO Is this assumption correct: You're bidding more than 2x the floor price and then selling into blur/os bids and losing the spread? and you're doing this bc the oracle lagged real time price action?