@xuanling11
@xuanling11
Yearn Finance Comic — Part 5 Security is one of the most important topics in Decentralized Finance. Without the security, your fund is for others to grab 💸. https://twitter.com/BlockSecTeam/status/1520350965274386433 **🔒 Crypto Security** https://twitter.com/xuanling11/status/1520597120226529280 Crypto itself is a component derivative from cryptography - a technique to secure communication in the presence of malicious third parties. It is prone to attacks from multiple…
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Modern Economical Nonsense — The Money Problem There is a problem with your money 💵! 😒 Don’t think so? Hear me out here. **💳 Visa** Credit was introduced in the 1950s. Everyone thought credit cards would replace money, but they didn’t. The benefits from credit cards were tremendous. For users 👤, credit cards take less room, no need to exchange currencies when going abroad, and there is a faster transaction speed and defer payments if you want to. For authorities 👮, credit…
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Curated Lists - Crypto Philosophy If you think about philosophy 🤔, the first thing you realize is there is no end answer to such philosophical questions. So then, why do we bother in the first place 🤨? Well, it is a process to get into the solution that we believe may work in the present until a better solution comes up. At least, that is my belief. Here is my curated list of ***crypto philosophy*** reading for now. **✍️ Author of Crypto Anarchist Manifesto** The Crypto…
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Defi 101 - Part 1 So, you want to learn Decetranlized Finance. The problem is that Defi is very confusing 😲. Why? Because if you do not understand TradFi (Traditional Finance) or Cefi (Centralized Finance), you will run around your head and wonder why Defi did this 🤔. The good thing is I gonna share with you some Tradfi knowledge here 😏! Let’s roll 🗞! **🏦 A Business Model of a Bank** We may already know that banks profit from their lending services called loans. However, the…
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Yearn Finance Comic - Part 6 A Defi strategist is a person to invents a new way to beat the market 👨💼. How nice if a robot could be programmed to help implement your strategy 👨💻? Let’s see how Yearn Finance offers Defi products 🛍️! https://twitter.com/xuanling11/status/1521912721012260865 **📈 Yearn Finance Strategy** Image credit: https://blog.yearn.finance/articles/marco-worms/yearn-finance-explained-what-are-vaults-and-strategies 1️⃣ What is a strategy? A strategy is a…
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Defi 101 — Part 2 In my previous article, I mentioned Defi has a problem with volatility compared to traditional finance. Do you think traditional finance (TradFi) is stable? 🤫 The answer is: probably not! 😱 Let me show you why 👉 **✊ The Market When The Fed Trades** The Fed has two jobs: control inflation and bring down the unemployment rate. In the past, when the Fed brought down ⬇️ interest rates, it reduced the return on interests paying assets. It means the opportunity…
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Thoughts about VC and PleasrDAO x BitDAO https://twitter.com/BitDAO_Official/status/1517531112855248896 BIP-8: PleasrDAO x BitDAO proposal is passed without a doubt! 🙌 https://twitter.com/BarracudaIO/status/1520040253683240960 As BitDAO holds one of the largest treasury in the DAO space with approximately **$2B**, why choose PleasrDAO but not others? Before exploring this question, let me share some background information about PleasrDAO. https://pleasr.org/ **🤔 What is…
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The Crypto Market has Changed The crypto market has changed. 😟 Whether or not you notice, Andre Cronje, creator of Yearn Finance, said the crypto is dead. https://andrecronje.medium.com/the-rise-and-fall-of-crypto-culture-3d0e6fd3e0e9 Too many projects want quick success and moonshot to produce products that are patched from any sources. https://twitter.com/cryptonesy/status/1521647742929485827 Bored Ape NFT 🦧 Otherland is an example. If NFT is not for money, the $300M…
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The Myth of Inflation Hedge https://twitter.com/Stevoolala/status/1522650570775015427 Inflation is high, and the market is low, especially the crypto market 📉. Does that mean Bitcoin was wrong about its inflation hedge characteristic 🤔? The answer is: NO! 🤯 Here is why 😉: https://twitter.com/AlessioUrban/status/1523319738063269888 Inflation is too much money to chase too few goods. However, the energy cost is very high too. We are partly to blame because we are too lazy to…
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The Myth of Stablecoin https://twitter.com/Techmeme/status/1523727247751802881 Stablecoin is essential to Defi. However, stablecoin is not as stable as it sounds 🧐. Particularly, when the market has weakened, the stablecoin likely de-pegged ⚠️. https://twitter.com/yugacohler/status/1523651278177406976 Stablecoin is not a currency but rather a debt 🧾 you buy from the private reserve. Of course, you can argue that the US dollar 💵 is not a currency but a debt from the central…
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The Myth of NFT NFT becomes a clear path to easily rug-pull people. Everything seems okay until the market weakens itself 📉. https://twitter.com/xuanling11/status/1524198498828050432 An NFT project looks more like a dating App 💝. They all share the common problem - people who didn't become who they claimed 😈. **😏 What is an NFT?** https://twitter.com/mrblockchaindev/status/1521457799816876032 An NFT is not art, collectibles, or many values attached. It is your reputation…
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End of the Crypto Market? The market has crashed 🔥! Or has it 🤔? Many people wonder where the bottom will be and how far the market bottom can reach😨? The internet is filled with conspiracy theories about how $Luna has been manipulated and crashed on purpose, eventually dragging down the price of Bitcoin and the crypto market 😭. https://twitter.com/NFTklondike/status/1524441098596536320 Or maybe it is just a cat secret society 😸 that exists that we have never known?…
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The End of the Stablecoin? The market had crashed 🔥 midnight yesterday due to Luna's fever 🤕. Image credit: https://www.coindesk.com/markets/2022/05/12/terras-luna-has-dropped-997-in-under-a-week-thats-good-for-ust/ Stablecoin UST was supposed to peg at $1, but it was $0.22. It meant you would spend $1 to buy $0.22 of the token. You immediately lost 78% of your profits. https://twitter.com/stablekwon/status/1524331189296721920 Then the founder used Bitcoin to back his…
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Terra-UST Saga - How to repair the trust when there is no trust built on Life is with surprises 🤯. For one month, you can be on the moonshot 🚀🌕 and for another month, you are bankrupt completely 💸❤️🔥. Some may say this is the nature of the crypto space, but it does not have to be this way 🤢! In the past, when crypto projects cratered, the community dissolved, and creators abandoned the project entirely 🏃. This time is different, the crypto market has matured, and founders…
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How to deal with negative market sentiment If you think $Luna is dead, rethink again 🤔. Image credit: https://beincrypto.com/binance-delists-luna-and-ust-amid-terra-ecosystem-death-spiral/ https://twitter.com/VentureCoinist/status/1525327052873809920 The crypto market sentiment is very low. https://twitter.com/BitcoinFear/status/1525264655941353474 But there are recovering plans for Terra's mess. Such as insurance to protect against the loss:…
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Modern Economical Nonsense — The Treasury Problem I commented on how UST was collapsed and quoted: `UST is a so-called algorithmic stablecoin, meaning that it’s not backed by assets like cash or cash-equivalents. Instead, it relies on trading and treasury management to maintain its value.` It is fake liquidity that will not work during the market correction. https://www.bloomberg.com/news/articles/2022-05-12/yellen-says-terra-meltdown-demonstrates-crypto-stablecoin-risks…
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Crypto VC Thoughts: Physical Assets vs Digital Assets I run my own crypto VC now. But I am failing in many ways. So I am writing my own thoughts and share with my failure experiences. It is funny that I was about to take a deep look at Terra, and it collapsed faster than the time I spent researching its protocol. Yup, apparently, I suck at VC. And here is just my reflections on cryptocurrencies. $Luna collapsed, giving crypto space to rethink the valuation of each crypto…
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Crypto VC Thoughts: Digital Money Pushes Energy Companies to Innovate In the past decades, people bought into the idea of Bitcoin 🟡. They think Bitcoin is the future of money simply to believe: 👉 censorship-resistance 👉 store of value 👉 hedge inflation 👉 accessible 👉 liquidity 👉 anonymity 👉 transparency 👉 potential high returns 👉 24/7 market opens 👉 open source 👉 and many more which outweighs the risks: 👉 volatility 👉 unregulated 👉 irreversible 👉 hackable 👉 limited use 👉…
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Crypto VC Thoughts: GameFi Dilemma The current play-to-earn model will never work the way it pretends to be 🤫. Why bother to play a game to resemble a soul crashing job just to earn as little as you can 🤔? The model emphasizes on earn rather than an experience to play 🙄. The primary purpose of designing a game is to provide fun. A game without fun is a boring job. Who wants another job to pay so little 😒? And much worse, you paid to have a boring job in most of the…
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Crypto VC Thoughts: Credit Oceans Inflation is hot 🔥~ It burns everywhere. The decade cheap money policy has created an ocean of debts. They are long being due until now. Don't be shocked if all assets depreciated suddenly 😂. You cannot pay off debts, and hope assets continue appreciating. Or would you 😈? With the ocean of credit pushed into the economy during the COVID-induced financial crisis, it bet to free debt in the short term to survive the economic shock. However,…
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Crypto VC Thoughts: The Death of Terra If you witnessed how the Terra collapsed, it would be similar to any Defi projects. So it is unsustainable if you really take a deep look at Defi projects and their founders/creators. What Luna did is similar to the subprime crisis in 2008. The bank issued a loan and packaged it to become the ultimate solution of financial product to hope no one found out and continued generating amounts of cash until it blew. Like Terra, the token…
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Crypto VC Thoughts: Debunk Bitcoin Myths Bitcoin isn't the best asset class 🥇 in the world. However, it is a hope that people uphold to yet to prove if it will become true 🤨. Unfortunately, some of the claims are not working well in current market conditions 😪. But that does not mean it will not work in the future ✌️. **1️⃣ Efficiency of the blockchain** The assumption of the technology is about increasing efficiency. However, blockchain did exactly the opposite. Each node…
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Crypto VC Thoughts: Defense Crypto Investment Methods Crypto investment is very risky because you have no control over its development and do not have enough information to determine its valuation 🎢. Many people made crypto investment mistakes because they traced the market too close to losing their minds 😱. The market is an environment that influences crypto assets. It is an amplifier to push further when the market is up and press intensely when the market is down. It has…
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Crypto VC Thoughts: New Type of Stablecoin Due to the recent crash of Luna, people wonder what we can do to make a better stablecoin? How about finding something that is very stable? Like AriZona Iced Tea ☕? Check out USDTea! https://usdtea.io/ AriZona Iced Tea has been stabilized at 99 cents since 1992. So does the tea will continue stabilizing at 99 cents in the future? Let's see how they stabilize the product at 99 cents since 1992. **🫖 Succesful of AriZona Iced Tea**…
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Crypto VC Thoughts: Crypto Business Cycle Bull 🐮 and bear 🐻 markets are people usually referring to a business cycle. However, it is a more self-fulfilling prophecy 🔮 than it is. Image credit: https://www.linkedin.com/posts/edward-yardeni_stockmarket-sentiment-economy-activity-6932771349136363520-P_F0 The bull market indeed leads by creating credits a.k.a new money, to boost business activities. On the other hand, the bear market diminishes credits to request debts to pay…
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Crypto VC Thoughts: Crypto Business Cycle 2 I wrote the first part of the crypto business cycle without offering a solution. So here is the second part of the solution. https://blog.blockmagnates.com/crypto-vc-thoughts-crypto-business-cycle-344a87758e83?sk=caaab670ceb02f1b2ca4a4f17bac8cea Image credit: https://cryptocurrencyfacts.com/market-cycles-in-cryptocurrency/ The market cycle follows the psychology of the market cycle. The crypto market seems to follow the stock…
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Modern Economic Nonsense — Bitcoin vs. Real Estate Banks hate Bitcoin ₿, and they cannot do anything about it. So, therefore, they are joining altogether. I was not surprised by JPMorgan's announcement about their Bitcoin investment over the Real Estate investment. https://www.cnbc.com/2022/05/26/jamie-dimons-jpmorgan-says-bitcoin-has-significant-upside-now.html Real Estate has no value. It is expensive not because it is valuable in any rational sense. People kept buying up…
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Modern Economic Nonsense — A very long term view The purpose of the economy is to survive as long as possible 🐢. At least, that is my perspective about how the economy should work. The stock market is a short-term perspective to forecast a seemly long-term goal 🐇. Like a race between turtle and rabbit, everyone knows how it ends, but no one pays attention to the real-life trap between the market and the economy. https://www.youtube.com/watch?v=gfbSIdwL0FE The rabbit 🐇 is the…
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Modern Economic Nonsense — Banking Collapse You may think the nation is safe heaven and banks are just as safe as the national economy 🏦. Oh, well. It is not true at all. Any nation can default, and your wealth can wipe out immediately! It happened in Iceland, one of the economic miracles in the 90s until the 2008 global financial crisis hit. The GDP of Iceland grew from 100% in 1998 to 900% in 2008! Nothing in human history can beat that pace of growth, and not even the…
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A Wall Street Legend Everyone believes that Wall Street is a heaven for investments 😇. At least all movies and promotional news portray it to be. Unfortunately, it is not 🥺. There are full of traders that try to beat the market - day traders 🤯. One of the legendary day traders is Jesse Livermore. He is the guy who invented the technical analysis. Have you ever heard about technical analysis? Sounds fancy 😉?! It is a fortune teller's skill to try to predict the market 🔮.…
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Modern Economic Nonsense — A Morden Alchemy The ultimate alchemy 🧙🏻 is transmuting base substances into gold - the philosopher's stone. https://www.youtube.com/watch?v=7g-WOMXe6Mo After thousands of years of research, humans almost found a solution to create gold, but it is too costly to feasible to build one 💰. https://www.youtube.com/watch?v=jf_4z4AKwJg Modern alchemy does not seek to create gold anymore. Instead, they are creating value for money 🎰. In the modern…
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Modern Economic Nonsense — Founder goes ghosting When the company's founder goes ghosting 👻, you have to be nervous about the company being gone forever. However, if the founder of crypto goes ghosting, you should be cheerful 🥳! Of course, it does not guarantee that a ghosting founder will benefit the crypto project, but it does boost confidence that the community can solely run the crypto project. The recent ghosting founder is Ryoshi, a founder of Shiba Inu Token.…