If you're thinking this rally will be like 2017, well, then, you're probably setting yourself up for wet, wet tears
2017 was a hype/fictional sort of bubble. This time, there are some legit products that are about to become very useful. $SNX is a great example....
1/x
2017 was a hype/fictional sort of bubble. This time, there are some legit products that are about to become very useful. $SNX is a great example....
1/x
If I can trade leveraged synthetic stocks and commodities, for example, I'll do that no matter what's happening to crypto prices in general (and $SNX tokens will simply become a vehicle for income)
https://twitter.com/redphonecrypto/status/1274821955875635201?s=20
2/x
https://twitter.com/redphonecrypto/status/1274821955875635201?s=20
2/x
There could also be some macro issues that mix in with a hype cycle (i.e. a fiat currency collapse or two... not talking the dollar but others... that force a population to adopt bitcoin or stablecoins)
3/x
3/x
Or maybe we see some huge corporates take up bitcoin positions, or we see an attempted ban, or a central bank announces it's buying, or employers offer to pay part of your salary in $BTC, or a central bank issues currency on $ETH, or all of the above happens w/in 12 months
4/x
4/x
The broader point is crypto feels big and mighty for us addicts, but as I tweeted earlier today, the sums locked into #defi aren't even as big as the assets held a Top 100 bank in the U.S.
https://twitter.com/redphonecrypto/status/1325903320553295878?s=20
5/x
https://twitter.com/redphonecrypto/status/1325903320553295878?s=20
5/x
Shit could be getting real. And it's almost scary how real it could get very quickly. I've always had a target of the low trillions (~$2 trillionish) as a sort of total market cap peak for the next cycle... but maybe I've been lowballing it. That's just a 4x
6/x
6/x
The industry did a 46x in 2017... going from $18.4 billion to $848 billion. (The total market cap of all U.S. stocks is $36 trillion)
Obviously we're dealing w bigger #s now, but even 10% of that stunning 2017 run would get us over $2 trillion. What if we do 20%? Or 30?
7/x
Obviously we're dealing w bigger #s now, but even 10% of that stunning 2017 run would get us over $2 trillion. What if we do 20%? Or 30?
7/x
Point is we all know trillions are coming.
The big macro question is how soon? The big personal question is do you have the patience to buy a few blue-dogs and let those fuckers run?
8/8
The big macro question is how soon? The big personal question is do you have the patience to buy a few blue-dogs and let those fuckers run?
8/8