Alessandro

Perpetually learning about crypto, finance, technology and life. All opinions are my own. Farming here and there

[Matteo Marinelli @MrnllMtt]

I've long argued that national productivity is, in part, a function of climate: when the weather is nice and cities are beautiful, you’re less likely to grind away in your office.

However,

There are fixes we can make to our country that would drastically increase output without affecting the lifestyle and/or overall enjoyment of life here.

In no particular order:

1) Lower the tax burden, especially for companies: as of now, a company has to pay roughly three times what the employee receives net, which doesn't help salaries.
2) Reduce bureaucracy, digitalize the incorporation process, and lower the capital required to incentivize entrepreneurship: currently, €10,000 (excluding notary fees and pre-revenue tax anticipation) for an entity whose legal equivalent in the UK can be incorporated fully online for less than £150 is insane. Probably @euinc_petition will help here.
3) "Milei" your way into the public sector, which at the moment is mostly a place where people with no skills go to get a stable income without ever doing any work.
4) Ban, or at least heavily tax, AirBnB and other short-term rental solutions: they're driving rents up, flooding our cities with expensive (=non value-adding) tourists, and reducing overall occupancy rates. Adopting the Dutch model here would help.
5) Privatize pensions. No explanation needed here. You can't have a system where the youth pays for the elders’ pensions when the latter a) hates the youth and b) is an order of magnitude larger in volume.

But there is so much wealth and capital tied to these factors, that no elected politician will ever make these necessary changes. Similarly, immigration is a huge issue, which could be easily fixed militarily by treating it as an actual invasion (it is), but it won't ever.

Democracy's pitfall.

[Alessandro @upsidePlug]

@thealepalombo We are terrible at marketing our products imo. They are globally recognized because they are amazing, not because we are good at selling it.

Antico Vinaio is in fact a monster at this game and laid out a great path for other products.

[Schlag @Schlagonia]

On May 4th an APYX affiliated wallet (0xD17) incorrectly supplied $3m USDC directly to a Morpho market using the Morpho Blue address itself as the onBehalfOf parameter.

https://t.co/5HuYTFL1S6

This means the entire deposit was credited to morpho itself and thereby lost and permanently stuck.

It appears they realized seven days later and used $3.6m of collateral to borrow back that $3m USDC from the market. To this day the wallet remains both the largest borrower and primary supplier in this apyUSD PT market.

Notably, at the current spot prices this position has already become under collateralized, however the oracle used in the market is preventing it from being liquidated.

The market uses a "fundamental" oracle that is meant to be the minimum of the APYX system collateral ratio or 1. However, until just the past day the collateral ratio oracle has had not been updated since depoloyment.

It does appear the team has begun updating the collateral oracle to reflect the true backing which has begun to lead to liquidations. So far liquidations on this market over the past couple days have been manually done by the APYX team itself with the apxUSD backing and holding the mark to market loss on the balance sheet, since the market cannot clear them profitiably even accounting for the liquidation bonus.

Worth noting the APYX has claimed this wallet is not theirs and is not holding backing assets of apxUSD itself. However, shared signer executions, funding practices, overall value amounts and cross wallet transfer matches would suggest otherwise.

[Alessandro @upsidePlug]

The worst I have experienced in Italy definitely comes from the Big 4.

People would happily work 10 hours a day, without being able to afford an apartment, and feel so entitled because they walk around wearing a tie and project themselves to possibly make a decent salary in 5-10 years.

As someone smart used to tell me "The only people wearing a tie are the ones that are forced to".

Glad to have had the opportunity to experience international mentality, where people tend to be a bit more humble about the reality of their position.

[Alessandro @upsidePlug]

@udiWertheimer I would scream of joy. What a pussy

[Alessandro @upsidePlug]

Not lending against it either btw

[Alessandro @upsidePlug]

Exited all STRC derivatives as I feel RR is not great at the moment.

Was a nice ride until now, might jump in again later, but better safe than sorry.

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[Alessandro @upsidePlug]

@Carlitoswa_y I love Spain but menu is 1/10 the size of Italian cuisine

[Alessandro @upsidePlug]

@BitcoinPontifex Crazy to answer E then.

[Alessandro @upsidePlug]

@BitcoinPontifex Exactly, except for the taxes.

If you compare that to 99% of southern Italian cities, then Italians cope. For sure more beautiful, but eat taxes and stfu.

[Alessandro @upsidePlug]

@Tlacuwise @thealepalombo Sardinia 8 weeks paid in summer, to me, are unmatchable tbh

[Alessandro @upsidePlug]

@dantepompieri @Shaikemhi @thealepalombo Man ur saying it’s not Tuscany, not me.

[Alessandro @upsidePlug]

@Jackpino_ @thealepalombo Noted and will absolutely go if there!

[Alessandro @upsidePlug]

@GoraniFabio @thealepalombo Beautiful but no

[Alessandro @upsidePlug]

@dantepompieri @Shaikemhi @thealepalombo Well brother, Tuscany is clearly shown in the picture, and if you don’t know, it goes below Firenze!

Might be good to go back to school tho, I see where you come from is not so good

[Alessandro @upsidePlug]

I come from between Milan and Turin, and I know Liguria perfectly well. It is amazing, but nothing compared to Sardinia.

Venice is amazing, but would never want to spend a lot of time there, too touristy. Firenze favorite city in the world, but would not live there, and the south of Tuscany is simply better.

[Alessandro @upsidePlug]

@MrJonas00 @thealepalombo OGs know the best part is in C

[Alessandro @upsidePlug]

@Jackpino_ @thealepalombo Ur right dawg, just me being an ignorant beast who never been there