David Nage🎯
@DavidNage
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Venture Capital PM @arca | Base Layer Podcast Host on Apple & Spotify | Investor & Supporter of Shadowy Super Coders | Not investment advice
New York
Joined March 2009
I am incredibly proud to announce that @arca has closed its first early-stage venture fund, called Endeavor, at $30M, with Galaxy Vision Hill as one of our investors. A thread below but a thank you to all the reports & outlets covering the story today! .
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I’m tired of crypto conferences charging $2000 and now family office conferences that are charging people/GP’s thousands of dollars to help educate investors about the asset class. Give me 2 months & I’ll figure out a free summit, bringing both sides together to learn. Who’s in?.
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In the span of 3 years we’ve come from the CEO of JP Morgan calling Bitcoin a fraud to the firm today putting a $146,000 price target on #Bitcoin.
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Do we call Microsoft, Amazon and Facebook “alts”? No. Do they all have less market cap than Apple? Yes. Calling Digital Assets with less market cap than #Bitcoin “alts” is antiquated.
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~700M people globally live around the poverty line. ~60% of Americans are living paycheck to paycheck. What @AxieInfinity and @YieldGuild are showing the world is that play-to-earn blockchain based games can be fun and help people pay for food, clothes and more.
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Bitcoin price-. March 2010 - $.003. April 2020 - $7,017. Yet some say it’s dead, why is that?.
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Cancel all festivals, conferences and mass gatherings now in the US. Do it now. This is a national security issue and by putting economics in front you are aiding in the transmission of this virus. Look at Singapore control measures and follow.
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@StevenACohen2 Steve how is ESPN able to investigate your new hires better than the organization? This should have been caught during the process and he shouldn’t have been offered the job. Need to do better.
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It’s estimated that 20M people own #Bitcoin . That reaches across race, religion, gender, age, location. In a world being divided more each day, Bitcoin is something that brings people together.
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If the fed can print an unlimited amount of fiat. Why do we pay taxes?.
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Oil has a room of people deciding on its supply (OPEC). #Bitcoin has math and code decide its supply.
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Ok so Bitcoin Billionaires the movie is green lighted. I’m no casting director @benmezrich but for @CharlieShrem I suggest @JonahHill
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It is worth noting: . @AxieInfinity DAU’s have 30x from April 2021: 38k to 1.3M . Blockchain based gaming has been around since c. 2014; not until Axie did we see the P2E super trend begin to take off, providing liftoff to @YieldGuild . #NFT @Psycheout86 leading the pack.
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Web2 landlords getting worried they won’t be able to collect rent for much longer.
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If you’re involved in digital assets right now. You’re early.
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So @ConstitutionDAO raised $40M . That could have supported 20 House candidates based on 2018 statistics. PrimaryDAO…imagine the potential.
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Hey Bitcoiners. @RaoulGMI and @RealVision have done more to educate and motivate hundreds of thousands of institutional investors about #Bitcoin then the majority of you combined. His opinions are based on decades of experience in markets. He may be right, may be wrong. Move on.
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My discussion with @SergeyNazarov from @chainlink is now live. We talk about the pipes of Web3 and Chainlink's role; we also discuss CCIP as we move to a multi-chain world plus the concept of the "truth machine". Listen:
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Recorded with @SergeyNazarov about the role @chainlink plays in Web3. Show airing tomorrow💥
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If you’re involved in digital assets right now. You’re early.
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At this point it’s irresponsible not to learn about bitcoin.
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CEO of Activision just said on @CNBC this deal is basically all due to the race in the Metaverse.
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I want to help someone out during these trying times. I’m giving away $100 in bitcoin. -Rules:. 1️⃣ FOLLOW ME @DavidJNage . 2️⃣ RETWEET THIS. Winner announced May 20.
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Close to $15,000,000 USD has been stolen due to COVID-19 scams thus far this year. vs the 12 Bitcoin that just happened via the Twitter hack. The more you know 👍.
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Larry Fink, CEO of BlackRock, the largest asset manager of the world overseeing $7T, just said this about #Bitcoin . “Bitcoin has caught the attention and the imagination of many people. it could possibly evolve into a global market asset.” . 💥💥.
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I’ve said it before and I’ll say it again:. Calling all Digital Assets outside #Bitcoin sh*tcoins shows a lack of research, knowledge and understanding (and I firmly believe in Bitcoins massive potential) . Basically, it’s lazy. .
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Here it is! . A 24 page overview of Digital Assets. I hope this gives some data points into Bitcoin, “Beyond Bitcoin” and the emerging asset class, thus creating interest among Family Offices & other Institutional Investors to further their exploration.
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Goldman Sachs handed in an 8th grade paper on Astronomy that still had Pluto labeled as a planet today.
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In the first 3 minutes @naval effectively summarizes the history of societies, to networks all the way to the importance of blockchain 😳 mic drop
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In your opinion, who is someone that can explain bitcoin effortlessly?.
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Only 1% of Robinhood users participated directly in the IPO. This is not the future. The future has begun with projects like @SushiSwap @Uniswap @compoundfinance where network participants and users benefit in the growth of the platform, together.
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Everyday family offices and institutional investors ask me “am I too late?”. There are trillions of dollars that aren’t even here yet.
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#Bitcoin will be regarded as one of the most important technological innovations in modern time. With that said, to generalize & call everything else a sh*tcoin shows a lack of research, knowledge and foresight in my opinion.
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Unpopular opinion: crypto conferences should be free to attend at this point in time. Education & discussion about Bitcoin & digital assets from those w/knowledge & experience should be frictionless as possible to help facilitate *NEW* capital allocators think thru allocations.
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Bitcoin and digital assets have created a community full of entrepreneurs.
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Republicans want a $1T package . Democrats want a $3.5T package . Does it really matter how *much* anymore??.
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A few months ago I decided to dedicate 100% of my career to crypto & leave the family office world. I spent months talking to funds; I wrote that 90% of them will fail. Then I found the team @arca and feel they are in the 10% & proud to announce today I've joined them!.
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Let’s run some numbers: . 3B gamers worldwide; if . 10% adopt P2E = 300M .5% adopt P2E = 150M.1% adopt P2E = 30M . @AxieInfinity has ~1.9M (38K in April ‘21). With ~10 games coming online in the next 1-2 quarters, plus new teams building👆numbers becomes reachable end of ‘22.
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First time seeing the @axiesisters dance live…wasn’t expecting that before I starting spinning this party
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How fast you age when involved in the Bitcoin and digital asset space.
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If anyone in the NYC crypto industry just got laid off bc of the economic issues associated with COVID-19 and is having trouble buying some groceries my DM’s are open.
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Anyone who calls #Bitcoin a scam today does so for a few reasons; I’ll list two: . 1) Anger - they feel they missed the boat or that Bitcoin infringes on their rent . 2) Laziness - they haven’t done a lick of research from the amazing, diverse resources we have now.
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Do you feel like we are early adopters being involved in bitcoin right now?.
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Prediction: a statement will be made about Tik Tok being a national defense type issue in the next 12-24 hours; some sort of effort to ban it here in the US will be discussed.
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New Base Layer w/@SergeyNazarov from @chainlink . Discuss the new whitepaper highlighting hybrid smart contracts; what are they, their function & more. We also discuss working with other chains & L2's. Thanks @NexoFinance @paraswap for support. Listen:
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There are 3 billion gamers around the world. Even if 5% of them begin to understand how blockchain based games offer them “play to earn” vs the legacy “pay to play” that’s 150 million people. And it’s more viable today then ever before.
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The term "digital assets" will be used more commonly than "cryptocurrencies" in the coming years.
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What do you think the biggest barrier is for people to get into digital assets and bitcoin?.
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The investment jobs in the next 5 years will require knowledge of Digital Assets.
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There are only 21 million bitcoins. The fed is printing an unlimited amount of fiat. What would you rather have? #btc.
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New Base Layer w/@SergeyNazarov co-founder of @chainlink . Great chat about oracles & the "oracle problem", how Chainlink is working to solve it, integration w/Town Crier, public v enterprise chains & much more. iTunes: Spotify:
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I have now spoken to several institutional allocators in the last few days that are working to put close to a quarter of a billion dollars to work in digital assets. Tide is changing. .
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On the DOJ seizure: . Deputy Attorney General Lisa Monaco said that it shows cryptocurrency is “not a safe haven for criminals.”. Well it’s about time someone got the memo! Can we stop with the “crypto is for criminals” line now??.
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There are now millions of new people exposed to Bitcoin because of this hack.
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The S&P500 dropped 34% this year before over $6T was printed to stop it. #Bitcoin dropped 10% last night; trillions weren’t printed, no interventions.
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Watch @kevinolearytv; this represents a lot of what @APompliano, myself and some others have to deal with day in and day out educating Institutional Investors about Bitcoin and crypto.
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I did some quick analysis: 73% of the Dow 30 companies mention and/or are currently building blockchain solutions. right now. Spreadsheet attached in pic - if you want me to send with the links I gathered happy to send, just let me know.
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Ok, @karaswisher lets' talk about Web3:. First, Gaming: @AxieInfinity + @YieldGuild & sub dao's of YGG are enabling hundreds of thousands of ppl right now who make $100-$200/month or less to earn+own assets to help pay for food, clothing & housing; . Web2 gaming doesn't do this.
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Rabbit holes you fall into when learning about bitcoin. -Privacy.-Regulation.-Entrepreneurship. What am i missing?.
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I’m sincerely curious -> explain to me why you wouldn’t wear a mask out in public right now:.
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Was just at private lunch with 30 family offices; take always: 1) 75%+ all long cash right now; 2) still looking for uncorrelated return streams to public markets; 3) fervently trying to understand *valuation* of Bitcoin and other crypto; 4) very aware of Quadriga mess.
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Pay Pal and Venmo are hopping into crypto buying and selling. A whole new generation of users will be exposed to digital assets. This is exciting.
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On May 22, 2010, now known as Bitcoin Pizza Day, Laszlo Hanyecz agreed to pay 10,000 Bitcoins for two delivered Papa John's pizzas. Those two pizzas are now worth $71,576,300.00. Have a good weekend. #btc.
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@jk_rowling Old Fashioned is one of my favorite all time drinks. wish I had a proper masher at home. Btw #Bitcoin is like fire insurance you’d buy for your home but instead of your home on fire it’s economic & government systems around the world.
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New Base Layer w/@SergeyNazarov from @chainlink . My third chat with Sergey was 💥. We talk about the social aspects & evolution of smart contracts and the role Chainlink is playing in them in re DeFi and more. Apple: Spotify:
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Companies with large amounts of Blockchain related patents/patent applications: 1/Alibaba has a total of 90: 2/IBM has a total of 89 filings; 3/Mastercard has 80 filings; 4/Bank of America has 53; 5/People's Bank of China (PBoC) has total of 44. This is all VERY real 🔥.
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We are proud to announce our investment in @BAYZgg today. 200M people living in Brazil; 95M are gamers. With ~15% unemployed due to the pandemic, wages falling +20% YoY, BAYZ, a DAO that operates as a hub for P2E game initiatives, can become a massive resource for Brazilians.
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There are ~7.5B people on the planet; . Most of them don’t currently own Bitcoin or other tokens. The use of the phrase “nocoiner” will not prompt more people into adoption; it will deter them. They are entitled to their opinions; it’s our job to respect & educate them.
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New Base Layer dropping with @DavidSonstebo @DomSchiener from @iotatoken . We discuss IoT, millions of machines used for a scalable chain void of fees and why they started the IOTA journey. Base Layer HQ: Apple:
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Over the past four weeks we’ve tracked 121 deals done in digital assets, raising $2.9B. Sector allocations (averages): . •NFT & Gaming: 16% .•DeFi: 24%.•Web 3: 11%.•Infra: 27%.•CeFi: 20% . 70-75% are early stage; 20-25% are Series A+.
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