Web3
Raoul on Zcash:
"Bitcoin, for me, was at $200 when I wrote the first-ever macro strategy piece, and I was like, listen, it might go to zero, but I think it goes to $100,000. And at $200, this is probably the best bet I've ever seen, and it works out in the end, but the path is a difficult path. And it feels the same... See more
Hazy Cubs 🛡️x.comThe problem with this analysis is that "revenue" is a tricky word when you are applying it to a L1.
"Revenue" is price x quantity sold. It ignores expenses. On the other hand, profit subtracts expenses to get your actual net income.
So if you look at transaction fees on Ethereum, the naive... See more
Haseeb >|<x.comCrypto is valued the way money is valued: by beliefs, reflexivity, scarcity, and collateral utility.
Money is not a business.
Money is not a network product.
Money is a coordination technology with:
•reflexive trust
•role in collateral hierarchy
•function as energy storage
•function as global settlement rail
•macro-hedge dynamics
•political neutrality... See more
Money is not a business.
Money is not a network product.
Money is a coordination technology with:
•reflexive trust
•role in collateral hierarchy
•function as energy storage
•function as global settlement rail
•macro-hedge dynamics
•political neutrality... See more
Dan Tapiero • Tweet
Financial assets want to be free. They want to be open. They want to be interconnected. Crypto turns financial assets into file formats, makes it as easy to send a dollar or a stock as to send a PDF. Crypto makes it possible for everything to talk to everything. It makes it all 24/7, global, interconnected, and open.
That will win. Open always wins.... See more
That will win. Open always wins.... See more
Haseeb >|< • Tweet
This is the thing that Silicon Valley has always understood better than Wall Street. Silicon Valley was raised on exponentials, while Wall Street was raised on linearity. And over the last few years, crypto’s center of gravity has migrated from Silicon Valley to Wall Street. You can feel it.
Granted, crypto growth doesn’t look as smooth as... See more
Granted, crypto growth doesn’t look as smooth as... See more
Haseeb >|< • Tweet
10 years of chop. All along the way, Amazon was beset with doubters and non-believers. Is e-commerce a VC-subsidized charity? They’re selling underpriced cheap low-quality knick-knacks to bargain hunters, who cares? How are they ever going to make actual money, like Walmart or GE?
If you were arguing about Amazon’s P/E ratio, you were in the wrong... See more
If you were arguing about Amazon’s P/E ratio, you were in the wrong... See more
Haseeb >|< • Tweet
But you might respond—well, stablecoin growth might be exponential, maybe DeFi volumes are exponential, but they don’t accrue to ETH or SOL. The value doesn’t get captured by the chains.
To which I answer: you still don’t believe in the exponential.
Because the exponential’s answer is always the same: it doesn’t matter. This stuff is going to be so... See more
To which I answer: you still don’t believe in the exponential.
Because the exponential’s answer is always the same: it doesn’t matter. This stuff is going to be so... See more
Haseeb >|< • Tweet
A story he often tells is about when all the early e-commerce VCs (it was a small group back then) got together for coffee in the early 2000s. They debated: how big is the market for e-commerce going to be?
Is it going to be mostly electronics (maybe only techies will use PCs)? Could it ever work for women (perhaps they’re too tactile)? What about... See more
Is it going to be mostly electronics (maybe only techies will use PCs)? Could it ever work for women (perhaps they’re too tactile)? What about... See more
Haseeb >|< • Tweet
But there’s a perception now that all the smartest people are over buying smart contract chains. Smart people know the jig is up. If not now, then soon. The only people buying here are suckers—Uber drivers, Tom Lee, and KOLs who say stuff like “trillions.” And maybe the US Treasury. But not the smart money.
This is bullshit.I don’t believe it, and... See more
This is bullshit.I don’t believe it, and... See more