Another Day in Crypto #18

Curating some crypto content from around the web.

Hello everyone,

Hope you’re doing well!

As always - this is most definitely Not Financial Advice.

Now, let’s look at some interesting stuff from today.


Starting with a pretty accurate description by mewny about how a lot of crypto (the centralized side of crypto actually, not the real cryptographic point of all of it) feels right now -

mewny @mewn21

i cant trust these formally structured tweets from institutions anymore "We are fully collateralized and have suffered no losses in the recent events. We are deeply hurt by the rumors and actions over the last 24 hours and..." Next day "Withdraws frozen"

TzTok-Chad also asked something related:

TzTok-Chad (💎, 💎) @tztokchad

can someone list all the bad news we've had since btc hit 20k?

Le Tervon replied:

Le Tervon @Tervon_2020

@tztokchad

Travis Kling @Travis_Kling

I've been doing these for 46 straight months and I've never seen one like this before. https://t.co/aGGpKYIoti

Travis Kling @Travis_Kling

I've been doing these for 46 straight months and I've never seen one like this before.

otteroooo is also discussing the centralized situation a lot -

otteroooo @otteroooo

WITHDRAW FROM KUCOIN RIGHT NOW Not a drill no time for thread like and retweet to spread the message otter hardly wrong in such matters 🦦🦦🚨🚨

otteroooo @otteroooo

if you're wondering why otter thread on kucoin is taking so long otter has an ongoing discussion with @lyu_johnny from kucoin to confirm the findings, because he reached out be patient hoomans, otter being transparent and credible

otteroooo @otteroooo

VOYAGER, another CeFi lender, closes withdrawals if you've for some dumb f*ck reason still have coins on any CeFi accounts WITHDRAW NOW BEFORE YOU CANT

Mike Dudas:

Mike D🫡das (🏌️‍♂️, ⛳️) @mdudas

Voyager is not, nor was it ever, DeFi. No one sensible every claimed that. I’m pretty sure DeFi and web3 are gonna start getting blamed for enterprise blockchain failures next.

Tweets from Zach Weinberg™ @zachweinberg

It's only web3 if it comes from the Defi region of France. Otherwise it's just sparkling finance. https://t.co/Amv8BWyb3n

Bankless also discussed a lot of crypto contagion on their weekly rollup:

scott had a related opinion:

scott @scott_lew_is

so many of the bitcoin maxis that were “anti-defi” just had huge cefi bags they wanted to protect. how disappointing.

Onto another topic - let’s review what some people thought about what President Biden said:

edgar.eth 🦉 @edgar_eth

Can’t believe this is a real tweet

Algod🫐 @AlgodTrading

Biden coming with the life changing solutions Can’t believe he is POTUS, fucking simulation https://t.co/DIPk0SWHZG

President Biden @POTUS

My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril. Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.

Nick Drakon @NickDrakon

He can’t be this stupid. Surely. https://t.co/rTvHTag5vl

President Biden @POTUS

My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril. Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. And do it now.

And about another subject, still regarding stupidity:

Cobie @cobie

World gets stupider every day

Robby Soave @robbysoave

Scoop: I obtained an email from the equity manager of Oregon's state health agency—she delayed a community meeting and then justified this on grounds that "urgency is a white supremacy value." https://t.co/7vZeXQCYGP

Robby Soave @robbysoave

Scoop: I obtained an email from the equity manager of Oregon's state health agency—she delayed a community meeting and then justified this on grounds that "urgency is a white supremacy value."

Neeraj Thakur @NeerajT4

Generational debt

DCF GOD:

DCF GOD @dcfgod

This is wild - some bank in China rugged $6bn Then to prevent protest / protect the bank, the government made all the depositors have failing health checks so they couldn’t go outside and do anything about it 😬 reddit.com/r/PublicFreako…

reddit.comr/PublicFreakout - $6 Billion In Deposits Vanished From Banks in China2,676 votes and 249 comments so far on Reddit

Stupidity has been a theme in the world lately.


Let’s move back to some “normal” Crypto Twitter stuff.

A tweet by Ryan Selkis that made people react in different ways:

Ryan Selkis 📖 🖊🔑 @twobitidiot

If you won't work nights and weekends in your 20s, you won't have a successful career. Sorry.

just scoopy 🧌 @scupytrooples

If you're not working 200 hours a week in your 20s, you won't be successful, because hungrier people out there are working even more than that. Sorry.

Mudit Gupta @Mudit__Gupta

People who aren't efficient will tell you that you can't make it without working 60 hours/week. It's not their fault, they don't know what a determined person can achieve in 40 hours. Don't listen to others' bullshit. Find the right balance for yourself. Everyone is different.

Retail Intelligence 🤖 @JBaksht

@twobitidiot I worked 80+ hrs for most of my 20s and 30s. This is the way if you want to be good at what you do. However, it is important to know that it will take most of your 40s to reclaim your physical & mental health.

Let’s move on to some DeFi tweets.

Alunara:

Alunara 👺 @0xAlunara

Daily copium fact #18: Options haven't really took off yet on DeFi, and the entire category sits at only ~$263m TVL. They're quite difficult to get right on-chain, but when and if those problems ever get cracked the growth will be enormous.

Alunara 👺 @0xAlunara

Daily copium fact #17: L2s only account for about ~3% of all gas burned today, but it's expected that they'll take the lion share in the future. https://t.co/XmVBGy4pHv https://t.co/SQQepKTjqL

ChainLinkGod.eth had an interesting thread about real world assets as the wat to scale DeFi to the global level:

ChainLinkGod.eth @ChainLinkGod

1/ Tokenized Real-World Assets (RWAs) is how #DeFi will scale to a global level A 🧵 covering my thoughts on the opportunities and challenges this present

CryptoCondom @crypto_condom

Totally on point thread from the inimitable @ChainLinkGod. Absolutely agree w/tokenization of RWA as a major catalyst but would also take it a step further & say RW use of smart contracts (credit card settlement in $USDC for example 👀🤫) will increase the DeFi TAM exponentially.

ChainLinkGod.eth @ChainLinkGod

1/ Tokenized Real-World Assets (RWAs) is how #DeFi will scale to a global level A 🧵 covering my thoughts on the opportunities and challenges this present

Mike (⬡, ⬡) @mikeyimp

Completely agree with @ChainLinkGod on the importance of RWAs to advance DeFi. That's why I'm so passionate about #Chainlink Proof of Reserve. Cryptographic truth for the collateralization of any real world asset.

ChainLinkGod.eth @ChainLinkGod

1/ Tokenized Real-World Assets (RWAs) is how #DeFi will scale to a global level A 🧵 covering my thoughts on the opportunities and challenges this present

Haym Salomon with his own daily knowledge for us:

Haym Salomon @SalomonCrypto

(1/19) De-Fi 101: Tokens From $ETH to wrapped-ve-token, your guide to the money-legos that builders are using to create the future financial system

alehinjo.eth had a great thread about a project he recently joined - Vendor Finance.

alehinjo.eth @Alehinjo_eth

Wrote a thread with the help of Yettywap on Vendor Finance @VendorFi go check it out if you want to learn about Permissionless lending and borrowing on any EVM-Compatible chain. A really interesting project that I'm excited about hope you enjoy the thread more coming soon

Vendor Finance @VendorFi

Why does Vendor Finance stand out and what is it in the first place? Thread Below 🧵 ⬇️ 🧵 https://t.co/5gDVBUF7eH

That’s not all we’re gonna share from him -

Another tutorial on KingMaker by alehinjo.eth about Concentrator:

Good job man!

Moving on:
Some optimism by Small Cap Scientist:

Small Cap Scientist 👨‍🔬🧪🥼 @SmallCapScience

Insane amounts of FUD and $ETH is green in the past 24 hours. Retail selling? Whales buying? CEX liquidity is at all-time lows, holiday weekend, and overdue for market makers to rekt shorts. What prices would the FOMO quick in? How high would it go w/o liquidity? Consider it..

Small Cap Scientist 👨‍🔬🧪🥼 @SmallCapScience

$ETH 1D, 3D, and weekly are oversold. @SBF_FTX pulled all the liquidity out of the CEX's so what happens when we rebound? 📈 I'm risk on, GL! 🧪

BowTiedBull gave their own advice:

BowTiedBull - Read Pinned Tweet or NGMI @BowTiedBull

In 2014-2017 SBF and CZ were effectively not known in crypto at all In 2018-2022 all they did was build Ignore every single person who says "don't start a biz in a recession or downturn" they know nothing.

foobar referred to a very interesting read about Ethereum PoS:

foobar @0xfoobar

This is the most comprehensive and updated dive into Ethereum PoS I've found out there

eth2book.infoUpgrading EthereumA technical handbook on Ethereum’s move to proof of stake and beyond.

I definitely agree with this one by Tano:

Tano 🫐 @tanoeth

We will slowly throw out all the ones not believing in DeFi anymore. In two years they will come back and ask us how we made it.

Let’s start wrapping it up with some general tweets i thought was interesting as well:

BowTiedDevil | Chad:

BowTiedDevil | Chad Hacker @BowTiedDevil

We didn't need L2 Ethereum to scale, $2 Ethereum did the trick

CRONK, Professional Bitcoin Historian @CryptoCronkite

BREAKING: Netflix secures rights to The Rise and Fall of Three Arrows Capital, a buddy comedy feat. Ken Jeong and Ryan Reynolds

For real?

Let’s end it for today with the same figure that we started with - the honorable mewny:

mewny @mewn21

Hearing some rumours that Ethereum could be halting withdrawals in the near future Apparently it “suffered immensely” from @VitalikButerin's recent tweets If you have funds on Ethereum, consider withdrawing them. After all, it’s better to be safe than sorry given his shitposts

mewny @mewn21

why are people taking this seriously

That’s is for todat everyone, thanks for reading and have a great day!