Isaac
711 posts
Isaac
@no__yield
the real yield was the friends we made along the way.
If you invested $10,000 in VVS Finance $VVS in November 2021, you would have $60 today. At this point, it's more of a memory than a portfolio.
Crypto easy money era has ended. Historically, most easy money periods last 3-7 years: - California Gold Rush lasted 7 years. - Tulip mania lasted 3 - The dot-com bubble about 5 years before the Nasdaq dumped by 78% - Japan's bubble was 6 years, then Nikkei took 34 years to recover So most speculative booms in history last 3-7 years. Crypto easy money started in 2017 with ICOs. Then DeFi summer 2020. NFTs in 2021. Airdrops. Points farming. Memecoins. That's ~8 years of easy money. We are already past that as every easy money model has been discovered, exploited, or arbitraged to max competition. Philosophical hard-forks like BTC -> BTC Gold or ETH -> ETH classic are over as crypto ossified not just technically. ICOs got regulated. Airdrops get farmed by industrialized sybils. Memecoin launches went from community fun projects to extraction tools. The gold rush analogy seems quite good here as FOMOs end the same way: Surface deposits get exhausted and then industrial mining takes over. (Literally same happened to BTC mining moving from retail to institutions who even IPOed from BTC mining.) So here’s where crypto is now: TradFi suits moving in, tokenization, RWAs, corpo-sloppo permissioned chains, and regulation. The Trump family & insiders are the last to get easy money from crypto. For retail, the surface easy money gold picking is gone. What's left to earn requires real infra, real users, real revenue which means more specialization, specific knowledge and REAL hard effort. Not sure how many of us who got easy money are ready to grind harder now. So many builders, KOLs, projects are extracting as much as they (we) can before leaving crypto coz adapting to the new hard-money period is gonna be hard. Question is: where to pivot for easy money? Asking for a friend.
last bear we got - ftx - luna - celsius - 3ac this bear we get - 10/10 - drift protocol what else?
Discount on vast majority of crypto secondaries is avg 90% It’s never been this bad and talking to secondary MMs they say the same. Usually it’s 60-70% for locked tokens w standard vesting - 1Y lock + 3-4 year vest
private key theft is not the same as a protocol hack. drift protocol was not hacked. 2 keys were obtained by the attacker. 2 possible options: - people on the team got hacked and had the seed phrase stored digitally somewhere. - people on the team are the attacker. likely the former, because us humans cant resist putting seed phrases on internet connected digital storage.
DRIFT exploiter sold $JLP for USDC, SOL, ETH over an hour ago Alarms only being sounded now (15min ago) What the fuck
