bong49 (iBGT, iBGT)

The bear market is dead. Long live the bera market.

[bong49 (iBGT, iBGT) @rapapoach]

The present is cyborgian.

[bong49 (iBGT, iBGT) @rapapoach]

@x256xx What do you mean by "aping entries for ICO are under 25% and airdrop 20%"?

What are you basing this on, out of curiosity?

[bong49 (iBGT, iBGT) @rapapoach]

@gordongekko So this bad boy?!

[bong49 (iBGT, iBGT) @rapapoach]

Of course, one can always dress up predispositions in the language of neutral analysis, but that doesn’t seem to be Jonah’s move here. This reads more like an application of Cunningham’s Law. Perhaps he is probing the case for $ENA as a long, though it’s possible I am giving him too much credit.

Crypto remains intensely liquidity-driven (as with risk more broadly), and outside of majors with strong external catalysts, altcoins tend to move in tight correlation. If one expects $AERO to triple, it would not be surprising to anticipate parallel strength in $ENA. While its valuation is comparatively higher, $ENA is one of the few projects with plausible product–market fit, and those are typically more resilient. Jonah knows this; if constructing a pair trade, there are far weaker candidates to short across the altcoin landscape.

To be sure, his takes can certainly be asinine though.

[bong49 (iBGT, iBGT) @rapapoach]

@Tradermayne @karbonbased *not abandoned

(Big slip, lol)

[bong49 (iBGT, iBGT) @rapapoach]

I think he'd still stand his ground on the *fundamentals* of Celestia/its future potential, irrespective of price action. And as far as I know, Celestia has abandoned their project. So, in that sense, perhaps one shotted his reputation as a price oracle, but I don't know why it would affect his credibility in any other way.

[bong49 (iBGT, iBGT) @rapapoach]

@fejau_inc Ummm, you are not a serious person

[bong49 (iBGT, iBGT) @rapapoach]

It's fine to think what one thinks, one need not even have a reason, but by placing "regardless of what Bitcoin does" as a qualifier, you are making a very strong claim. And you are smart enough to not make those without good reason. So why would you also not specify why you think what you think?

And both of us know, 'because it happened in the past' or some version of 'history rhymes' is not it, right?!

[bong49 (iBGT, iBGT) @rapapoach]

A sell-off even towards the bottom of a range from a top can be devastating for coins. And to be honest, btc often sets lower lows on the daily and even on the weekly a lot of the times prior to reversing, so I'm not even sure what you're calling a range here; ranges are mostly only obvious in hindsight

[bong49 (iBGT, iBGT) @rapapoach]

@SquigsCat @DegnFarmer Whitelist still on?
Token not out yet, is it?

[bong49 (iBGT, iBGT) @rapapoach]

@Pickle_cRypto you're indexing its fair value based on some notion of a future imagined state, or are saying this based on the numbers it is generating at this very moment?

[bong49 (iBGT, iBGT) @rapapoach]

@Krissdev0x @justinalick BGT can be redeemed for bera, so it is "pegged" in that sense, but iBGT is @InfraredFinance's liquid derivative of BGT, which has its own market price; it can trade at a premium or discount to BERA price

[bong49 (iBGT, iBGT) @rapapoach]

@coinmamba Since $Trump, this is the wei

[bong49 (iBGT, iBGT) @rapapoach]

@mirionics @origami_fi @InfraredFinance you a legend, mate miri
ecstatic for you

[bong49 (iBGT, iBGT) @rapapoach]

lol, wut?

[bong49 (iBGT, iBGT) @rapapoach]

@mirionics hope all is well, fren
pls take care yourself
much love

[bong49 (iBGT, iBGT) @rapapoach]

imo the upside is capped by $bera and $bgt valuations, ordinarily LST providers are a small fraction of the host chain

assume bera val at 1B (which is not the case) and infrared val at 10% of that (which is extremely generous), we're looking at a max val of 100M

how much of this is reserved for current points holders, 1% or 2% or 5% if we're being hella generous?

I doubt we'll see the numbers you're discussing or even close to them

no shade, just being real

[bong49 (iBGT, iBGT) @rapapoach]

Aren't BGT LST providers working on a redemption module, which would basically help arb up any discount? What you're describing is a short term issue, but it'd be silly not to eat up any negative premium on something like iBGT imo.

Also if BGT is being redeemed in order to move BERA to the staking module so as to take advantage of high APRs, then you still have a sink for the inflation, no?

Still early days, ofc it will be a matter of concern if there is little demand for staking, but perhaps demand redemption = demand for staking? (At least partially)

[bong49 (iBGT, iBGT) @rapapoach]

@DigitsCapital @justinalick For someone who's been telling folks to forget about the bear chain, you're awfully clued into its discourse

No one left who survived, so no one to engagement farm either

Maybe Hyperliquid

[bong49 (iBGT, iBGT) @rapapoach]

excellent coverage by Nomad wrt the changes coming to @berachain

it is exceptionally challenging to mark oneself out in the competitive chain (L1/L2) landscape, a fact that is amplified by the general level of fatigue, burnout and cynicism plaguing crypto participants (the *natives*) today

It behooves us to see most of the newer chains as venture bets rather than core infrastructure; with the success of Solana, Sui and Hyperliquid, and the resurgence of Ethereum and Ripple, the L1 trade (the alt L1 meta that @cobie described in his "Trading the Metagame" piece) seems largely done for

Then the question becomes on what grounds to make the L1 venture bet, if one must make it, when you know esp well that most of these ventures are doomed to fail?

I become less pessimistic when I read teams grinding hard and shaking things up to remain or come up in relevance

PoL V2 perhaps turns out to be a beacon of hope. Time will tell

b/era

[Nomad Bera 🐻⛓️ @Nomad_]

https://t.co/f55zeufPq9