fomosaurus 🦖
@fomosaurus
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Not a thought leader. Neither here nor there, but somewhere.
Joined November 2017
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During periods of continued strength, sometimes it’s better to keep betting on the fastest horse.
Your laggards might be behind because there’s no mindshare, not because it’s undervalued.
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Saylor furiously searching under his couch cushions for another $1 billion.
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Over the next couple weeks, I’ll share some random anecdotes about what I’ve been doing over the past two years whilst absent from Twitter/X.
Here’s the first:
Sometimes it’s hard seeing the forest 🌳🌳🌳 from the trees 🌳.
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People conflate success with luck, but they won't understand the amount of round trips you had to endure.
Critics won't understand the mental gymnastics you play on yourself to even stand a chance.
Your journey from 0 to 100x is not a self-fulfilling prophecy.
Ask them to try.
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It might be hard to hear, but your chats going radio silent is the sound of time-based capitulation and bottoms forming.
When everyone's faith wanes, even your own, it's time to pay attention again.
The hat stays on.
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People keep wanting to find the next ___ but sometimes there just isn’t.
20M shitters hitting 100M works right now but when everyone thinks it’s a risk free trade, a rude awakening awaits.
All roads lead somewhere, perhaps there’s a hat there.
Sometimes doing less is more.
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Musical chairs and forced narratives never prevail.
When max value extraction draws close to an end, capital flows back to the kings and queens.
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@ThinkingUSD
95% of its trading volume is on CEXs. I think you’ll find it illuminating when you compare the liquidity of many of their peers with similar MCAPs having 90% less liquidity on chain.
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There's so many ways to win in crypto in 2024.
Let go of your bias and forget about your ego and ask yourself this:
"Do you want to be rich, or do you want to be right?"
They're not mutually exclusive.
The only thing that matters is your P&L.
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SOL 9,783,358,967.63
ARB 5,675,349,643.62
BSC 4,962,978,343.97
POLYGON 5,386,303,356.78
BASE 5,006,434,314.90
CANTO 9,164,964,132.681
ETH 3,972,006,809.15453
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Are there any interesting projects I should interview for the forthcoming edition of Jurassic Park 🦖?
Drop them in comments or DM and I'll reach out to them, no matter big or small.
Got a few projects joining the 3rd edition cohort that I'm really excited for.
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I’m feeling more energized now knowing this is so much more collaborative and “real” than it was in 2017 and seeing people with enthusiasm so evergreen is exciting.
Maybe, we’ve only just begun.
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Seeing a lot of confusion on Canada’s inclusion rate changes on capital gains.
A few thoughts and notes:
- You’re NOT taxed at 66%, that’s the inclusion rate of your profits that’s taxable against your marginal tax bracket.
- Your capital gains are then taxed at the federal
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We are conditioned. We’ve learned being comfortable while things are uncomfortable and we are so far right on the risk curve that it can often seem foreign, benign, and crazy to those that haven’t endured the peaks and valleys, let alone the cliff dives and elevators down.
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So I bet 10% and it wasn’t enough. But I knew the fear was real, the psychological warfare internally was tangible.
“I’ll go all in if it drops to XXX levels.”
No, you won’t.
The hardest and best buys are hardly ever satisfying.
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Reasonable FDV and on Tier 1s already?
The catch up play perhaps with similar PA.
Holding comfortably until we close the valuation gap.
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People paying a 10% spot premium on SOL as they rotate and liquidity gets vaporized from everything else.
Would imagine this arb closes when the bridge is due.
Weekend PA might be choppy, will be interesting to see how the former flavour of the weeks perform when things settle.
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Just to clarify, I don’t have a particular leaning, just that 1) these are exceptional circumstances and 2) they’re occurring at higher velocity, but despite that, it’s only a handful.
Be careful with exhuberance, but we don’t control memetics, the ideas shape their own life.
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PA often runs in concert with $TIA but will move more like an elastic band at 8.5x lower mcap and 15x lower FDV.
Do you smell the rotation?
Muh modularity.
Muh mindshare.
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I hope this doesn’t take seven years for some to realize the opportunity, but also reminded of the fact that it took us 2,555 days and that’s now just a journey to reflect on.
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Personally, I’ve given much of my time to my TradFi and normie friends trying to onboard them, to educate them and have often felt defeated being unable to make any headway with converting them.
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During the last week of Dec 2022, the whole world collectively agreed it was all over.
I remember vividly that $SOL tapped $8 and my economist and finance friends were sharing macro doom articles to me every single day.
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During the first week of January, I came to a realization that my immediate biases weren’t aligned with my long term conviction and beliefs, yet had a real difficult time fixing this divergence despite my former, degeneracy, high risk appetite.
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Did I believe we’ll have another bull run? Yes.
Did I think it might happen in 2024 and 2025? Yes.
Was I aware that $SOL captured a lot of dev mindshare and potentially, bottomed? Yes.
But, was I scared of the macro environment? Yes.
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@DJclicker77
@harryhendrix27
@ThinkingUSD
@blknoiz06
I don’t understand this take.
There’s CEX tokens with nary any DEX liquidity at all?
What sane person slams a full market sell on a DEX when they can do the same on a CEX and capture most of its notional value?
Why is a token’s liquidity solely defined by its 6th largest
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@TheFlowHorse
Finally moving out of this 2 month forsaken range. Due for a nice March I think with cap changes and new integrations hopefully
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@HsakaTrades
The sanctity and spirit of the meme coin is lost IMO.
Also, I hope they buy my bags.
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@juminoz
@thedefiedge
Ser, you’re the CEO of a company with an IDO in April. How do you handle security?
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@VentureCoinist
One thing I’ve found very hard to reconcile is that the vast majority of my friends with good jobs and savings/trad portfolios cannot recalibrate or adjust their aptitude for risk. Despite onboarding many, the ones who’re MORE successful are the least likely converts.
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@TheFlowHorse
I think general notion is that too soft or too hard is bad for spine and posture. Another consideration is whether you’re a back or side sleeper.
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@Buy100ozSilver
That’s the inclusion rate, so 66% of your profit is taxed at your tax bracket, but only qualifies if you’re 250k+. Still madness though.
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@VentureCoinist
Oh absolutely, I used to find this defeating but I totally understand it now tbh. We’re so conditioned and so far right on the risk curve that it’s probably foreign to most, especially to colleagues who’ve made their success in other ways and know they’re good at it.
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@crossedentropy
I’ve rarely sat down and reflected on this too. Somewhat surprised if I’m honest, but that’s when I realize these people are 2016 versions of us, not even 2017… 🤯
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@VentureCoinist
Made a quick thread about this when I came back on CT.
The requests from friends to onboard them have reached escape velocity since, but admittedly, few have converted still to levels I expected, but the job’s not done.
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