I found a snippet from another article of his. Kind of a shame he's too focused on revenue generation for protocols. HODLing Bitcoin as long term savings is doing something with it...
"Bitcoin is somewhere between a Tulip and an Dying Business. You can't do anything with Bitcoin besides trade it or hold it, but you do have some spending in the economy via transaction fees. The emissions from mining greatly outweigh the transaction fees though, so it's still heavily subsidized by the new bitcoins being printed. If the fees get high enough to justify continuing mining without the block rewards, then it would be a Living business, but we aren't there yet."
I don't actually have anything against Bitcoin, I just think it's the lowest-upside option right now.
I'm invested in crypto for higher-risk, higher upside wealth generation, akin to the Barbell Strategy from Taleb. I think the upside is lower for holding Bitcoin vs. Eth.
Nat, I'm under water 90%(merit circle, a gaming guild). How do you frame the decision to hold or sell an alt? Perhaps I think there are better opportunity costs-matic or eth. Opinion on Merit C.? Too early for gaming?
MATIC is so easy to stake, why not stake it directly yourself rather than through Lido? I would be worried about your overexposure to Lido (as you rightfully point out yourself as well). It’s probably ok but you never know, maybe there is a bug or a hack in Lido and you suffer disproportionately
Nice post. 1. Not fully understanding your absence of doubt or cautiousness on stETH. What makes 100pct sure you will get ETH back. 2.Do you think those APR you mention are worth the credit risk? 3. Are they offset the inflationary nature of the token mentionned? Not arguing, just debating.
No Bitcoin seems a little bit ridiculous
Would also be curious to understand the no BTC thesis.
I found a snippet from another article of his. Kind of a shame he's too focused on revenue generation for protocols. HODLing Bitcoin as long term savings is doing something with it...
"Bitcoin is somewhere between a Tulip and an Dying Business. You can't do anything with Bitcoin besides trade it or hold it, but you do have some spending in the economy via transaction fees. The emissions from mining greatly outweigh the transaction fees though, so it's still heavily subsidized by the new bitcoins being printed. If the fees get high enough to justify continuing mining without the block rewards, then it would be a Living business, but we aren't there yet."
I don't actually have anything against Bitcoin, I just think it's the lowest-upside option right now.
I'm invested in crypto for higher-risk, higher upside wealth generation, akin to the Barbell Strategy from Taleb. I think the upside is lower for holding Bitcoin vs. Eth.
Wouldn't the Barbell Strategy in the context of crypto look more like 80% BTC/ETH and the remainder in higher risk, lower market cap coins?
It would be interesting to see a percentage breakdown of how you're weighting each token.
Nat, I'm under water 90%(merit circle, a gaming guild). How do you frame the decision to hold or sell an alt? Perhaps I think there are better opportunity costs-matic or eth. Opinion on Merit C.? Too early for gaming?
MATIC is so easy to stake, why not stake it directly yourself rather than through Lido? I would be worried about your overexposure to Lido (as you rightfully point out yourself as well). It’s probably ok but you never know, maybe there is a bug or a hack in Lido and you suffer disproportionately
This is my crypto portfolio
https://youtu.be/HYsI4uL3SSI
Nice post. 1. Not fully understanding your absence of doubt or cautiousness on stETH. What makes 100pct sure you will get ETH back. 2.Do you think those APR you mention are worth the credit risk? 3. Are they offset the inflationary nature of the token mentionned? Not arguing, just debating.
Thank you for providing your views. Any thoughts on continuing to hold TOKE?