BC CRYPTO
Saved by @SteveeRogerr

1/ crypto VC is going through an explosive 🧨 phase

there are big funds (>$500M AUM), a lot of small funds (<$50M AUM), and *tons* of prop firms + angels

i’ve done 15 deals in the last 3 months as an angel + small fund @CoinSharesCo VC.

observations + implications... 👇🏾

 2/ the big firms need to deploy in size - $5M checks and up

a $250M fund could do a $5-10M deal every month for two years and still be under-allocated

and there aren’t enough companies raising series B / C / D rounds!!!

every deal i’ve done lately is under $50M valuation
3/ so we see firms competing to take down entire rounds.

a recent series A financing had two firms competing to take down the ENTIRE ROUND, and it eventually got upsized, a LOT.

if a company is putting up user acquisition / growth and a revenue story, it’s highly competitive
4/ most projects and co’s don’t need money tho - why would a founder take 20-40% dilution when they’re banking cash and crypto? so they do 5-10%

so the valuations go up, but available allocations go down, resulting in an even bigger squeeze on allocators who *need* to deploy
5/ add in the onslaught of non-crypto M&A that’s coming, which is culling the herd of investable unicorns

add in the wave of SPACs and direct listings taking later stage opportunities out

there just aren’t enough places to put capital in size rn

what’s a fund to do?
6/ seed / series A is ultra competitive - i’m trying to deploy as fast as i can across a wide range of co’s, because many will not raise again or raise small rounds at crazy valuations

but your pedigree and reputation matter - founders can be choosy since there’s so much $$$
7/ funds are rushing to add platform + services - something i built at @DCGco and continue to build @CoinSharesCo - it’s a big differentiator!

perks include code audits, marketing, hiring support, research, etc

expect to see this grow exponentially (it already has in trad VC)
8/ companies are becoming more selective in how they raise and have more pools of capital available to them - many rounds now never hit the fundraising trail

and once @coinbase IPO goes out at $50B+, even more capital is going to come hunting for ROI in crypto
9/ it’s a founder’s market and there’s TONS of capital chasing too few deals

the crunch is going to get intense

for investors, be careful and DYOR - always down to trade deal notes

for founders, be choosy. raise less. demand more value! your investors work for YOU 🤩
10/ for those thinking about starting a co - if you want to chat, don’t hesitate to reach out! there is a great network of folks who have been funding this industry for years ❤️ use them!

we are about to enter a brand new era of crypto VC and i couldn’t be more excited 💥🧨💥
disclosure: our equity investments @CoinSharesCo can be found at https://t.co/kHiDYlNRdH

my personal portfolio including companies and protocols can be found at https://t.co/K3fVxXPq0v (overdue for an update tho!)

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Nick Chong
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@n2ckchong
We're in the phase of the market where there's a lot of retail inbounds but not enough education about the Ethereum ecosystem and DeFi.

So, let's break down the basics of some of the top protocols.

First on deck: Aave (@AaveAave), an Ethereum-based money market protocol.

A 🧵


TL;DR: Aave is a protocol through which any user anywhere in the world can take decentralized loans by collateralizing their assets.

Aave also allows those will idle assets to earn a relatively safe return on capital from lenders, whose rates are determined by a curve.

1/ For years, most crypto assets had no indirect or direct utility.

Users would hold BTC, ETH, and other assets (including many ERC-20 tokens) with no expectation of a native yield or dividends.

ETH, for instance, was long just an asset for transaction fees, as was Bitcoin.

2/ If users wanted to borrow against their assets, they were relegated to centralized platforms—which were few and far between years ago.

3/ Aave, formerly ETHLend, is a protocol allowing users the ability to lend and borrow on-chain, without KYC and untransparent fees.

Users can deposit a variety of assets as collateral, then use that collateral as ammo to borrow other assets to be used in DeFi or beyond.
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Algostorm \u26a1 2/7/2021 6 pm EST ALGOWORLD USA
Algostorm ⚡ 2/7/2021 6...
@AW_USA
Unlike #ETH and #BTC $ Algo uses delegated proof of stake (DPOS) #AlgorandandFriends


Under the DPOS mechanism, the community will empower a number of users the delegates to choose the next block. This is a mechanism that is used by blockchains such as EOS etc. $Algo

There is a fixed number of delegates & these delegates can be viewed as having centralized control. In the adipose blockchain, the delegates may own a tiny fraction of the total money in the system. Yet, the whole blockchain is secure. $Algo

The Algorand consensus mechanism is called pure proof of stake. And it operates on this simple principle. It makes cheating by a minority of the money impossible and cheating by the majority stupid. $Algo

$Algo developed a mechanism so that those with small stakes cannot cheat, those that have a large stake in the network won’t cheat. It will completely devalue their holdings & make no economic sense. As long as 2/3 of the majority are honest, the protocol will work just fine. $
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Altcoin Sherpa
Altcoin Sherpa
@AltcoinSherpa
Quick Thread on #Altcoins/ #Altseason

Step 1: $BTC has a huge correction. Every range starts with either a pump (or dump) and then follows with a dump (or pump). In this case, #Bitcoin pumped and is now pulling back. This is


Step 2: $BTC ranges big once it finds a bottom. This will allow it to reaccumulate for a big summer run in 2021. This is HEALTHY IMO.


Step 3: Once $BTC finds a bottom and starts to grind up again, I expect $ALTS to do very very well in both alt/usd and alt/btc pairs. ALTSZN is almost always characterized by strong alt/btc pairs moving- I've already accumulated most and have done my final buying today and more.

$BTC.D typically has a very nice time during this time of the year. I was off on December prediction bc I thought $BTC was going to pull back by then but oh well! #Altcoins will start their pumping time VERY soon now.


More information on what #Altseason is and $ALTS market
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Hamza
Hamza
@hamzanitoo
1. Last week, @robbietilton sold this art piece for about 17305$ on @withFND.
I saw a lot of people asking questions on CryptoArt and NFTs (Non-fungible token) to understand how it works. I'll try to explain the basic concepts on this thread ↓


2. First, you don't directly buy the art piece, you buy a token. This token is what holds the asset that you're buying, it is a unique id that is used to represent what you bought. It can hold information like the name of the asset, an URL, a description, and so on.


3. On most marketplaces, you won't have a classic signup or login form when you'll want to create an NFT or buy one. Instead, it will be asked to connect your crypto wallet.

4. Now, why bother with a crypto wallet? Couldn't we just do an app that works with dollars? This is where things get interesting: when you buy an NFT, the data is not stored on the marketplace servers.

5. When you post a picture on Instagram, it is stored on their servers. If the app is shut down, your data might be deleted. But also, Instagram could delete your content if they want to, NFTs works differently.
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Finshots
Finshots
@finshots
What happens to your cryptocurrency when you die??

A thread...

Did you know it’s illegal to log into a dead person’s crypto account?

So if you're a crypto investor and you died today, who reaps your fortune?

No one, technically, unless you name a beneficiary in your will. And it's a big deal as ~3.7M bitcoins, $140B is unrecoverable (excluding the 10k+ other cryptocurrencies) since the investor either lost their password or died intestate.

And you can’t just “reset” the password. This is because, when the cryptocurrency network confirms passwords to allow transactions, it does not see or know the password itself!

This complex algorithm keeps the system decentralized. So a lost password is lost money.
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DEVI KARUMARIAMMAN, THIRUVERKADU (TN)

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