I am going to be using #bitcoin & borrowing from myself to buy my first rental property.

Want to know how?

Time for a thread...👇🏻👇🏻👇🏻

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. $

While my time investing in crypto and previously playing poker has gotten me used to experiencing large daily personal net worth volatility, it's never a pleasant experience

Short thread (by my standards...) with some ramblings that help me get through it 👇

1/10 Imo, some DeFi projects represent 10-1000x upside opportunities

Obviously, like all of crypto, it is extremely risky and can go to 0. That said, given the magnitude of potential outcomes, it just doesn't have to succeed that often to make it a massively +EV bet

2/10 As with all early stage tech, realising these outcomes will require 4-8 year holds

Unlike early stage tech, crypto investors will have liquidity, i.e. the possibility, and thus the temptation, to sell

This is both a blessing and a curse

3/10 A look at any of the best performing public stocks will show you that you cannot have 10-1000x upside potential without volatiliy and occasional large drawdowns

Crypto, as early stage tech, is much riskier than established public companies and thus even higher vol too

4/10 Obviously, one should take advantage of this liquidity as it allows for rebalancing. Most importantly, it also makes outcomes less binary and thus less volatile than traditional VC

However, one should not let the liquidity take advantage of us

1 - Over the years I've learnt a lot of new things that I wish I knew when I first started so I want to make this thread for all the new traders out there who wants to turn their trading into a profitable career 🔥

Will be adding to this thread over time.

17 - Because trading is a game of numbers and probabilities, whenever you see a setup that fits your trading rules and aligns with your edge, you NEED to take the opportunity!

Don't pick and choose, just religiously follow your plan and rules!

1. Ultimate blockchain, NFT and crypto learning thread 👇

(warning 100's of hrs of content)

2. @CalBlockchain 's Spring 2021 fundamentals course: slides and

3. @tferriss @naval and @NickSzabo4 's podcast about crypto and

4. Similar one to previous but @tferriss, @naval and @VitalikButerin 's podcast on scaling, ETH, NFTs and

5. @a16z Crypto startup