Tesla just announced that it had bought 1.5 billion dollars of bitcoin and could in the future sell cars in bitcoins. Since this morning both Bitcoin and Tesla are going up in the market. Maybe there is afterall something in the saying that“Bitcoin is Tesla without the cars”1/ 20
![](https://pbs.twimg.com/media/Etub0MdXMAQy4ZU.png)
![](https://pbs.twimg.com/media/EtuczdIXcAUQoCT.png)
More from Crypto
Short version:
The NFT token you bought either points to a URL on the internet, or an IPFS hash. In most circumstances it references an IPFS gateway on the internet run by the startup you bought the NFT from.
Oh, and that URL is not the media. That URL is a JSON metadata file
Here's an example. This artwork is by Beeple and sold via Nifty:
https://t.co/TlJKH8kAew
The NFT token is for this JSON file hosted directly on Nifty's servers:
https://t.co/GQUaCnObvX
![](https://pbs.twimg.com/media/Ewrpt4mWYAQlf2u.png)
THAT file refers to the actual media you just "bought". Which in this case is hosted via a @cloudinary CDN, served by Nifty's servers again.
So if Nifty goes bust, your token is now worthless. It refers to nothing. This can't be changed.
"But you said some use IPFS!"
Let's look at the $65m Beeple, sold by Christies. Fancy.
https://t.co/1G9nCAdetk
That NFT token refers directly to an IPFS hash (https://t.co/QUdtdgtssH). We can take that IPFS hash and fetch the JSON metadata using a public gateway:
https://t.co/CoML7psBhF
![](https://pbs.twimg.com/media/Ewrq4reWQAAI_BL.png)
Key difference between the '17 and roaring 20s in crypto is that back then everyone was aping a16z and Naval.
Today everyone apes 3AC wanting to be the next Degen.
'17 was an idealistic *saving the world* kind of thing
20s is *me against the world*
1/ The financialization of crypto means more volatility but pretty long ascend to the top.
Multi-year bull and an ATH surprising even to the biggest bulls as the infinite Cantillon "wealth" is pumped into crypto
Crypto becomes the ultimate Cantillon insider circle-jerk.
2/ This will be one the most iconic ideological reversals in history, comparable to Google who was firmly against advertising but turned into the most powerful ad company ever.
![](https://pbs.twimg.com/media/EsVGBkUW4AEyVdY.jpg)
3/ This scenario reminds me of the 90s privatization period in the post-socialist countries.
The regime transition allowed the communist party elite to benefit from the wild west form of "capitalism" that ensued, transferring (and multiplying) their wealth into the new regime.
4/ We are far from Satoshi's original vision . But words and intentions of *prophets* were used to manipulate and corrupt all throughout human history and this time it is no
At "forever" Cantillon insiders are infinitely wealthy. Everybody else lives in pods & eats what the livestock eats, or joins the harem or household staff of an infinitaire.
— Nick Szabo (@NickSzabo4) January 21, 2020
You know what's coming:
🔺️ Regulation
🔺️ More shutdowns
🔺️ Banks deciding who gets to do business
It's time you got your own crypto wallet.
Don't know how? I'll show you.
/////THREAD\\\\\
METAMASK
What's metamask? It's a wallet. That you -- I mean YOU -- own.
You see, when you buy crypto through an exchange like CoinBase, you own it but only kind of.
If they get
🔺 Hacked
🔺 Shutdown
🔺 Servers crash
-- your money is STUCK.
We are gonna avoid that 👇
![](https://pbs.twimg.com/media/Es6hgTTW8AEgem0.png)
First thing,
Go to
https://t.co/JXAp9o5RzJ
You can download it on your computer. It's a browser extension.
Alternatively, go to the app store on your Android or iPhone. It's there too.
As part of the setup process, you will choose a password.
More importantly though...
SEED PHRASE
As you follow the setup process, you will be given a 12-word seed phrase.
WRITE. THIS. DOWN.
Take it down and guard it like the map to Davey Jones' Locker.
THESE ARE THE ONLY WAY TO RECOVER YOUR ACCOUNT.
DO NOT LOSE.
We good? Great.
Let's continue.
![](https://pbs.twimg.com/media/Es6hlFwXIAMP9N2.jpg)
Once you're all setup, your MetaMask wallet is going to look something like the picture below.
See where it says Crypto Address? That's where your actual address will be.
It'll be a random arrangement of letters, numbers, etc.
Click on it to copy to your clipboard
NEXT STEP
![](https://pbs.twimg.com/media/Es6hl6VWMAMdfRH.png)
You May Also Like
A thread 👇
https://t.co/xj4js6shhy
Entrepreneur\u2019s mind.
— James Clear (@JamesClear) August 22, 2020
Athlete\u2019s body.
Artist\u2019s soul.
https://t.co/b81zoW6u1d
When you choose who to follow on Twitter, you are choosing your future thoughts.
— James Clear (@JamesClear) October 3, 2020
https://t.co/1147it02zs
Working on a problem reduces the fear of it.
— James Clear (@JamesClear) August 30, 2020
It\u2019s hard to fear a problem when you are making progress on it\u2014even if progress is imperfect and slow.
Action relieves anxiety.
https://t.co/A7XCU5fC2m
We often avoid taking action because we think "I need to learn more," but the best way to learn is often by taking action.
— James Clear (@JamesClear) September 23, 2020
Those who exited at 1500 needed money. They can always come back near 969. Those who exited at 230 also needed money. They can come back near 95.
Those who sold L @ 660 can always come back at 360. Those who sold S last week can be back @ 301
Sir, Log yahan.. 13 days patience nhi rakh sakte aur aap 2013 ki baat kar rahe ho. Even Aap Ready made portfolio banakar bhi de do to bhi wo 1 month me hi EXIT kar denge \U0001f602
— BhavinKhengarSuratGujarat (@IntradayWithBRK) September 19, 2021
Neuland 2700 se 1500 & Sequent 330 to 230 kya huwa.. 99% retailers/investors twitter par charcha n EXIT\U0001f602