BC CRYPTO
Saved by @Alex1Powell

1/ Well looks like folks wanted a 121 tweet tl;dr thread of my annual crypto theses. I was rooting for "delete account" to win the poll below instead, but here goes...

121 crypto theses for 2021.

(not investment advice)

 2/ Get the full report here!

It's on the industry's banned books list, so you know it's good and deliciously irreverent.

https://t.co/KxLqregkpA
3/ 1.1 Buy BTC. Buy ETH. Buy DeFi.

(political speech, not investment advice)

There's real fundamental drivers behind these assets today vs. 2017. I think we'll hit $100k / BTC next year, and $3 trillion of crypto market cap next cycle.
4/ 1.2 Buy BTC.

Not my advice, but it is from Paul Tudor Jones, Stanley Druckenmiller, Cathie Wood, Bill Miller, Raoul Pal, Chamath, and dozens of other institutional investors.

The digital gold narrative has stuck because of this:
5/ 1.3 Buy ETH.

Ethereum is the everything marketplace + settlement layer for a new decentralized financial system.

It will clear $1 trillion of on-chain transactions this year; the beacon chain upgrade has gone smoothly so far; ETHE will pull in big $$$ (more on that later).
6/ 1.4 Buy DeFi

The money legos are fun to play with, and this year they got lucrative too. If you're just getting your beak wet, then you might want to stick with the UNEASY blue chips:

UNI - DEX
NXM - Insurance
ETH
AAVE/COMP/MKR - lending
SNX - synthetics
YFI - money manager
7/ 1.5 Stablecoins are eating the world.

Tether (USDT) still makes the crypto world go round, but USDC and PAX bring more regulated legitimacy to this market, and DAI offers a fully decentralized alternative.

End 2019: $4.5 billion
End 2020: ~$30 billion
End 2021: ~$75 billion
8/ 1.6 Crypto Credit

Levering up (even conservatively) on crypto assets is a bullish phenomenon we haven't seen in prior cycles.

+ HODL crypto
+ Borrow overcollaterized to pay interest vs cap gains
+ Redeploy into infra and more crypto (or real estate)

It's a beautiful thing.
9/ 1.7 Synthetics

Anything that makes crypto more accessible to the unwashed masses is bullish.

Biggest wins next year will be repeat winners?

+ Grayscale ETFs
+ Wrapped assets leveraged cross chains
+ Tokenized securities (exchange tokens + stonks)
10/ 1.8 Infrastructure

Exchanges will remain the 800 pound gorillas of crypto, and acquire their way to additional growth to offset the fact that:

+ Spreads are tightening
+ DEX competition for retail users is real
+ Custody is getting unbundled (chart)
11/ 1.9 Web3 + NFTs

+ Filecoin is a monster, love decentralized storage
+ Social tokens are going to be massive (@tryrollhq ;))
+ Flow (Dapper Labs) is a leading contender to win the NFT meta-marketplace. NFTs are exploding...
12/ 1.10 Policy

We're at the final boss stage: combatting state-level crackdowns.

FATF is bad, China is a big risk, and we should try to think about how to gradually escape to VR and the "network state" that @balajis and I discussed the other night.

https://t.co/p4SRDhp0sE
13/ 2.0 Top 10 people to watch...

My favorite graphic from the entire report. 😂

(h/t @asiahodl)
14/ 2.1 @SBF_Alameda

Just a monster year:

+ Top 10 exchange in 18 months
+ Alameda one of the top DeFi players
+ $150 million Blockfolio buy
+ Synthetics trading leader
+ Big Biden booster! Helpful for crypto.
15/ 2.2 @michael_saylor

Dude's gonna have $1billion in BTC on his public company's balance sheet soon ($MSTR). Meme machine, but maybe too maximalist right now.

(He'll take the ETH pill eventually, too.)
16/ 2.3 @BarrySilbert

The Grayscale <> Genesis monopoly trade has led to record AUM, record open interest, and ~$200mm run rate EBITDA for DCG at current prices.

But @DCGco unlikely to go public any time soon, if ever.
17/ 2.4 @balajis

He wasn't really full-time in crypto per se, but I loved his take on Bitcoin as a Flag of Technology.

He's on here for being early to warn people about COVID, prescient in predicting its second- and third-order effects, and slaying MSM.

https://t.co/pP7TozVKY6
18/ 2.5 @BrianBrooksOCC

One of the biggest developments of the year was what I call the "Bitcoin Insurgency" in DC. We've finally started to get some of our own in positions of influence.

Brooks made it safe for banks to custody crypto assets AND bank stablecoin issuers.
19/ 2.6 @CaitlinLong_

I regret her omission on 2020's watch list. Caitlin played the state policy arb game masterfully & helped derisk one of the biggest choke points for crypto: banking.

The WY progress paved the way for Kraken and Avanti (Long's newco) as the first BTC banks.
20/ 2.7 @AndreCronjeTech

Crypto is eating the world, and Andre's YFI is eating crypto. One of the most insane paces of development I've seen in the 7.5 years in the space.

Shows the speed you can build with money legos.

Nice chart too.
21/ 2.8 @haydenzadams @rleshner

They may seem like humble farmers, but they mainstreamed liquidity mining:

+ reward early contributors
+ drive liquidity in DeFi
+ derisk protocols, by decentralizing governance

"Yield farming" was one of the most important trends of the year.
22/ snack break.
23/ 2.9 Anonymous

2020 was all about vampire attacks, food token forks, and rug pulls.

If you’re a normal human w/ a respectable career and that sentence makes no sense, you’re better than me. But anon/ pseudonymous contributors had a BIG year in DeFi.

More in the full report.
24/ 2.10 @dannyryan

Vitalik is the visionary philosopher-king, but Danny did something unprecedented in Ethereum's history...kept the trains running (mostly) on time.

He's the face of ETH 2.0 and the person to watch as new milestones get hit.
25/ 3.1 Stablecoins = Stimulants

Blockchains are dollarizing: BTC/ETH are no longer the primary reserves for exchange settlement, trading pairs, or DeFi. *Despite that* they've rallied like mad.

More stablecoins = more dry powder
Less stablecoins = more BTC/ETH reserve

win-win
26/ Passive Aggressive

"The Grayscale Trade" and now "The Bitwise Trade" will be big for 2021 institutional inflows.

GBTC trades at 30% premium to NAV
ETHE trades at 100%+ premium
BITW trades at a 100%+ premium

Enrich accrediteds, fleece the unwashed masses (thanks to the SEC)
27/ 3.3 APE ME

We track liquid portfolios for dozens of the industry's top funds. I don't recommend market buying their bags, but it's a helpful reference point for what the crypto "smart money" likes right now.

https://t.co/UlPzmJ5gg9
28/ 3.4 Directional correctness: Build and Go LONG

Early internet losers didn't win big.
Early crypto "losers" still win big if they work on the infrastructure, miss, but still hold the underlying.

That is POWERFUL for human capital retention.

https://t.co/xwKuPf6osY
29/ 3.5 Traditional VCs are behind the eight ball

+ Crypto entrepreneurs need help community building & nailing protocol market structure, not future fundraising
+ Series B+ somewhat irrelevant
+ Top seed investors are crypto specialists, legacy players ded (except @fredwilson)
30/ 3.6 The Crypto IPO calendar:

Coinbase - likely to file as a decacorn in 2021
Kraken - coin flip to file, my money is 51% no
BlockFi - likely to file as a unicorn in 2021

Not sure who else, but definitely not...
31/ 3.7 DCG will not go public

+ DCG is likely closing in on a (mostly liquid) crypto portfolio of $2 billion
+ $200 million RR EBITDA
+ Diversified play with regulatory moats

Should be an IPO darling, but Barry will keep it private and consolidate ownership slowly.
32/ 3.8 M&A Targets

We'll see:

+ Bank M&A - custodians - BitGo, Fireblocks, Anchorage?
+ Exchange M&A - data & tools - CoinGecko, Bison Trails?
+ Protocol M&A - YFI will eventually Kirby up everything
33/ 3.9 Work-to-Earn

+ You can bring code, capital, or content to the table, and I think content creators (educators/marketers) will have a lucrative year.
+ Better to earn crypto than to buy it. :)

Get off the sidelines and join the party!
34/ 3.10 Assets we like!

DISCLOSURES OF HOLDINGS NOT INVESTMENT ADVICE
35/ I will unlock the rest of this thread once the top tweet has 200 RTs or we hit 50 Pro sign-ups, whichever comes first.

Otherwise, enjoy the rest of the full report! :)

https://t.co/SFJBZc2Fey

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Coopahtroopa \U0001f525_\U0001f525
Coopahtroopa 🔥_🔥...
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2020 was a game changer for Ethereum.

The vast majority of its success was fueled by #DeFi.

Here's what happened in 5 Tweets 🔽

1) Governance Tokens 🪙

Projects gave complete ownership of billion dollar protocols to their users, often using retroactive airdrops.

Early adopters earned tokens for past usage, and token-based voting now dictates all technical


2) Liquidity Mining ⛏️

Power users were the first to earn on-going distribution by providing liquidity.

$COMP sparked the wave, with $BAL coining the term a few weeks


3) Yield Faming 🌾

Projects coupled liquidity mining and governance tokens to boost 'yields' by combining lending rates with an incentive layer.

APYs peaked as high as 1M% during 'DeFi summer', leading to a 'food coin' craze like $YAM and


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Who needs investment when you can launch using yield farming?

@iearnfinance debuted $YFI with no formal funding, seeding a community treasury for self-sustainability.

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//Bitcoin \U0001d575ack \U0001f410
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Slow and steady wins the race

Bitcoin is often critized for being slow in everything

But here is the thing: the more you complicate a design early on, the more you push it down a specific road

Get your assumptions wrong, and it's off-road

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@SahilBloom
Lindy Effect 101

With Bitcoin's return to the spotlight, debates on its long-term viability are raging. Its proponents contend @nntaleb's Lindy Effect says the technology is here to stay.

But what is the "Lindy Effect" and how does it work?

Here's Lindy Effect 101!

👇👇👇


1/ First, a few definitions.

The Lindy Effect is a theory that the future life expectancy of specific non-perishable items, like a technology or idea, is proportional to their age.

Put simply, the longer it has already lasted, the higher the likelihood it will continue to last.

2/ The term "Lindy effect" is a reference to Lindy's, a New York deli frequented by comedians in the 1960s.

While author Albert Goldman used the term "Lindy's Law" in a 1964 article, it was mathematician Benoit Mandlebrot who moved the dialogue towards the current definition.


3/ In his book, entitled The Fractal Geometry of Nature, Mandlebrot commented that the more stage appearances a Lindy's comedian made, the more future appearances he could be predicted to make.

The longer he lasted, the longer he would continue to last.

4/ @nntaleb built upon Mandelbrot's work, formally coining the term "Lindy Effect" in his book, Antifragile.

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Vlad "BTCTKVR.com\u201d Costea \U0001f7e7
Vlad "BTCTKVR.com” Cos...
@TheVladCostea
I usually stay away from price predictions, but this time I couldn't help it. Just published "10 reasons why bitcoin will hit $100.000 in 2021".

Share it with a normie friend, maybe he/she will understand the value proposition of

Reason no. 1: during its 12 year-old existence, Bitcoin has performed a lot better as a store of value than gold.

Reason no. 2: Bitcoin is easier and less expensive to transfer than gold. This one is pretty self-explanatory, as gold is heavy and expensive to secure.

However, I believe that we should look up to gold a lot more often & look down to USD less

Reason no. 3: Bitcoins can be carried across borders a lot easier than gold and cash.

It's simple, really. With only a general-purpose electronic device (phone, laptop), piece of paper, or even 12 words that you memorize, you can move your wealth in a different country.

Reason no. 4: Bitcoin transactions cannot be censored.

In a world where PayPal and Visa can dictate your policy as a business and can shut you up from expressing political opinions, Bitcoin has a lot of value.
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Prateek Singh
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@PrateekLearnapp
We should be proud about @0xPolygon. But don't invest if you don't understand what they do just like any other asset class.
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Ameda Temple
Ernakulam, Kerala 🚩
#keralatemples

Ameda Ksetram is located in the banks of Vembanad Lake. Temple is very unique and Powerful Sarpa Kavu.
Parashurama did Prathishta here. Vilakku which was lighted by Parasurama is still seen inside the temple.


The oil from this lamp is given to bhakthas for recovering from illness.

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Aama Ni Nidayam' ( Aama means tortoise) and later become ‘Ameda’. Parashurama came to know about the journey of Sapthamathrukkal. Thus, he did Prathishta for the Sapthamathrukkal here.
7 forms of Aadi Parashakthi are Sapthamathrukkal. Veerabhadra and Ganesha have Sannidhi here.


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Share for the benefit of everyone.

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1. PDC Acts as Support
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