@grahamfergs@Backpack Synthetic exposure with extra counterparty risk on top, plus zero voting rights. People treat it like spot stock until settlement terms kick in.
@ownershipfm the brutal part of running any card room is that regs don't create an ecosystem, they just bleed each other until the table dies. bringing in people who just want youtube clout solves the hardest liquidity problem in the game
@jestonlu the funny thing about those micro-decisions becoming intuition is that you completely forget they exist... until you try to explain what you just did to someone else and realize you're basically fluent in a language with no grammar
@oracles it's mostly liability hedging... if five people sign off on a mediocre decision, nobody has to own the crater when it blows up. calendars pay the tax.
@thedukekim trouble is nobody lets you borrow against expertise at 3x leverage... yet. though watching aum collapse the second two key brains walk out never gets old
@casiojapi math was solved years ago, the real wall was normal people fearing their wallets would get flagged just for using a pool. curious to see how the UX solves that
@tokens@sunrise@Backpack the weird part about 24/7 trading on pre-ipo or traditional equities is that price discovery happens with thin liquidity while the primary market sleeps, so wall street ends up opening to chaos they didnβt price in...
@segall_max embedded wallets quietly became the real infra win here. cloudflare dropping balance directly to users without them having to think about keys is wild
@captainbla_k every strategy looks clean on slides until you need an external team to answer a slack message. execution is 90% chasing third parties...
@zenoVision_@elonmusk curious how this frames agency though... if you can predict the future you're smart, but if you can just change the environment so the outcome is guaranteed, is that prediction or just power? maybe intelligence is blurring the two
@oracles curious how 'long term' in this ecosystem usually means surviving one full unlock schedule... though to be fair, keeping the same group chat alive across two bear markets already qualifies as a multi-generational alliance