ngmi

Do crypto stuff | Homeless since joining crypto in '17

Pronouns: (daddy/big daddy diesel)

[ngmi @notgmi]

This is the equivalent of pulling money out of your pocket and putting it in your wallet and somebody says "sir, there's a tax on moving your money"

Mental retardation knows no limits

[Polymarket @Polymarket]

JUST IN: Illinois moves forward with the nation’s first crypto tax, set to take effect January 1, 2027, even on trades that lose money.

[ngmi @notgmi]

@Metricsforlife this is a redacted take dude - change your bio if you think people should be taxed on money (crypto) they lose for holding or moving assets

like moving money from one bank to another or pulling cash out of atm you gotta pay a tax

[ngmi @notgmi]

@apex_ether hey i love your tool, but not a premium guy. do you mind please following me back and/or sliding in my dms sir the code? would be much appreciated 🫡

[ngmi @notgmi]

I wasn’t afraid of life back home and liked my family/friends

I realized I was escaping where I was and I was blowing all of my $ traveling when I should be investing in crypto/trying to work in the space

Being willing to admit I was wrong about moving there enabled me to leave

[ngmi @notgmi]

I moved down under in my early 20s to see the world, find work I liked, and escape the path I was on back home

Asked all people age ~30 what they liked most, they all said “it’s pretty good, just way better than home”

After hearing this 20 times, I packed and left 1 month later

[Ole Lehmann @itsolelehmann]

i know several people in their mid 30s that got one-shotted by nomading and are starting to be really depressed about it

here's the problems they are facing:

> a lot of them would actually love to start a family

> EVERYONE Is single though, often for years or even decades of situationships

> optionality both human wise (relationships etc) and location wise has made it impossible to commit to anything

> there's a constant feeling of the grass might be greener (leading to no grass at all!)

> all of them moved around multiple times a year for 10-20 years

> all of the nomad places (bali, KPG etc) are dominated by people who are there only for a couple of week/months a year

> a lot of my friends have a lot of people they "know" but almost 0 true friends (because friendships actually need a lot of time spent together)

> and because all of their friends are also nomads, everyone is always on the go so it's incredibly hard to build depth in any relationship

> most of these "friendships" feel very intense in the moment but amount to 0 over a couple of years because you simply never see most people

> if you want to start a family, when you're hitting mid 30s it suddenly gets real that you might miss that traind entirely (some of them are starting to be really depressed about this)

> this is more true for women, but let's face it most 30-35 yo woman also don't want someone in their 50s or 60s so the window is also closing rapidly for the men

> most of the nomad lifestyle is also antioptimized to be family friendly

> you could say that being a nomad longterm really is anti-optimizing to make starting a family more likely

> most nomad places are also predominantly inhabited by people in their 20 or early 30, once you outgrow these cohorts a mismatch starts to happen (people either become manchilds or start feeling totally disconnected)

> btw, it's TOTALLY fine not wanting to start a family or have roots at one place. all i'm saying is many of these peopel thought so too in their mid 20s but then missed to adjust their lifestyle to what they really wanted: deep friendships, roots and eventually a family

> let's be realistic, a lot of relationships go to waste so even if you're "only" 30, that's basically just 1-2 relationships go wrong before your become infertile (as we women). it happens fast as fuck! also you don't want to start a family with someone you just met, so you also need to include at least 1-2 years of living together before you make such a decision

> friendships & relationships are assets that compound over time and it's very very hard for most nomad to actually get to that point. i'm not saying it's impossible but it's just what i'm seeing with people I know

> I think a great solution is to take some of your nomad friends and actually start a co-living project like @levelsio does.

> it's totally anecdotal, but I just wanted to remind everyone to rethink if you're lifestyle is actually aligned with your long term goals. and no, you don't have all the time in the world. things take time. use it wisely.

btw. I also traveled a lot (and still do by most people's standards)! i totally get why people love this lifestyle. but it's so important to understand the downside too

[ngmi @notgmi]

@Derek_N_NHL Zeev buium was a miss - taking Dickinson over him was mistake

[ngmi @notgmi]

@EffortCapital **defi llamas data (which blockworks steals) is the most accurate

[ngmi @notgmi]

@coinfessions Happens brother - you give up/die the story is over

Do you want to give up or give it a shot/take a chance at rebuilding something great?

[ngmi @notgmi]

An ode to those in the arena 🫡

[banteg @banteg]

i look at pure research with a bit of contempt. it's for people who don't get their hands dirty and don't want to take the risks of seeing their idea perform in production. you just spent years in an insulated ivory tower, while others have a live feedback loop collecting data in the trenches.

[ngmi @notgmi]

Note to myself: please watch this

[Patrick OShaughnessy @patrick_oshag]

My guest today is Paul Tudor Jones (@ptj_official), one of the greatest macro traders of all time.

He correctly predicted the 1987 stock market crash and shorted the Japanese bubble in 1990. For over 40 years, his flagship fund has had a negative correlation to the S&P 500. 100% of his returns are alpha.

He says today's market has so many similarities to 2000, "the easiest bear market I've ever seen in my whole life."

He makes the case for going long dollar-yen, why Bitcoin beats gold as an inflation hedge, and why he was wrong about Warren Buffett.

But what I'll remember most from this conversation is Paul's zest for life. He's 71 and still wakes at 2:30 every morning to trade the London open. He works out for two hours a day. He walks with his wife every evening. He travels the country chasing peak spring and peak fall. He's so excited about the songs picked for his funeral that he wishes he could be there to hear them.

Paul has lived five lifetimes in one. He's one of the most entertaining and interesting people I've met, and the conversation will leave you searching to be as passionate about what you do as he is about what he does.

Enjoy!

Timestamps:
0:00 Intro
1:00 The Kindest Thing
13:19 Trading vs. Investing
17:33 Lessons from Warren Buffet
22:24 The Existential Risks of AI
29:54 The Nature of Trading
31:46 Bitcoin
35:55 Bubbles
42:08 A Day in the Life of PTJ
46:00 Information Overload
47:07 Passion for Markets
50:49 The Robin Hood Foundation
54:18 The Workless World
56:03 Journalism
1:00:00 Principal Components of a Great Life
1:05:06 Kill Them With Kindness

[ngmi @notgmi]

@LumidaWealth Good post - do more in format like this. Thx

[ngmi @notgmi]

Buried a friend today

Check in with them if you know they’re going through hell

That was the pain/regret of us who attended the funeral “I should have reached out”, “I should have followed up” etc.

Lookout for those close to you 🫡

[ngmi @notgmi]

You can see we’re close to the private credit cycle top by how many payments companies are onboarding to crypto for TVL deals (exit liquidity)

Private markets are using RWAs as exit liquidity

The more I see in crypto, the more I realize how retail = primarily exit liquidity lol

[Tulip King 🌷 @tulipking]

https://t.co/QwOFNAFy9R

[Zach Rynes | CLG @ChainLinkGod]

Look guys, it's actually really straightforward, a bunch of people staked their ETH on the Ethereum blockchain to earn yield, except they didn't want their capital to be locked up, so they actually staked with a liquid staking protocol called Lido who provided them a liquid staking receipt token called stETH, except they decided to juice their yield further by depositing their stETH receipt tokens into a restaking protocol called Eigenlayer, except they didn't want to lock up their capital, so they actually restaked with a liquid restaking protocol called KelpDAO who provided them with a liquid restaking receipt token called rsETH, except they decided to juice their yield further by depositing their rsETH tokens into a lending protocol called Aave so that they could open a leveraged looping position that borrows ETH against the rsETH collateral and restakes the ETH into rsETH which is then deposited as collateral, except it turns out rsETH used a cross-chain bridge called LayerZero that was hacked by north koreans causing rsETH to become undercollateralized and now these looping positions are stuck and unprofitable, and everyone is pointing fingers at each other, and also DeFi is a very serious industry

[ngmi @notgmi]

Zero sum thinkers believe we’re destroying the world and humanity by having kids

Positive sum thinkers believe we’ll innovate our way out of our growing population concerns

Me? I want a human (a kid that cares) to hang with/that wants to help out when I’m 125 instead of a robot

[Math Files @Math_files]

In order to be born, you needed:

2 parents
4 grandparents
8 great-grandparents
16 second great-grandparents
32 third great-grandparents
64 fourth great-grandparents
128 fifth great-grandparents
256 sixth great-grandparents
512 seventh great-grandparents
1,024 eighth great grandparents
2,048 ninth great-grandparents

For you to be born today from 12 previous generations, you needed a total of 4,094 ancestors over the last 400 years.

Think for a moment:
How many struggles?
How many battles?
How many difficulties?
How much sadness?
How much happiness?
How many love stories?
How many expressions of hope for the future? – did your ancestors have to undergo for you to exist in this present moment...

[ngmi @notgmi]

There is no 2nd best

Llamaswap til I drop

[0xngmi @0xngmi]

someone just swapped $50m for $36k on cowswap through aave's frontend, effectively losing 50m

if you try to make this swap on llamaswap the UI won't let you at all, buttons get locked

we've spent years building a price API with the highest coverage of defi tokens to avoid this

[ngmi @notgmi]

@DefiIgnas nexo is bulgarian mafia involved - they froze withdrawals in '22

they were raided by their gov't but then said "there is 0 thing nexo is doing wrong" lol

yields might be so high bc they might just be using as a piggybank

[Marc Zeller @mzeller]

Who is John Galt?

https://t.co/QvboqyyIkm

[ngmi @notgmi]

@WillManidis This was awesome - hope you do more pieces like this

I’ve been in the UAE multiple times and Singapore once - both of these countries are “the business hubs of the east”

But there is no culture - they’re modern countries with no soul and it feels emotionally barren to visit