CD9K

The American values of economic liberty, private property rights, and innovation are in the DNA of the DeFi, or Decentralized Finance, movement.

being in crypto is all about experiencing the worst liquidation you can imagine and then having to hangout with your girlfriend's retarded friends for dinner

“Crypto kids don’t learn any valuable skills trading shitcoins!” Holding Ethereum has been FAR MORE than just financial gain. It has provided TRANSFERABLE LIFE SKILLS in terms of mental fortitude and patience. I used to HATE long journeys anywhere. Couldn’t stand being seated and having to travel many hours. Holding ETH has made me so mentally resilient that I’m prepared to TANK ANYTHING. Throw me in a solitary confinement with a straitjacket and I’m 100% good. Put headphones on me with SCREAMO MUSIC BLASTING for DAYS, no problem kid. I used to snap quick too, short temper/fuse. Nowadays? Lmao cuh you can’t get me mad, I hold Ethereum. Few speak of these life lessons derived from digital assets. Retar Dio.

Base, the largest L2 on Ethereum, is now subsidizing gas costs for users who pay in USDC. This is the L2 with the highest amount of economic activity and the largest market share that is now pushing USDC to its users. If the thesis was, “we give up execution but we export ETH the money to L2s” is this encouraging? The entire framing of “L2s are parasitic” is fundamentally misunderstood. If you are trying to capture value from fees / MEV, then certainly L2s are parasitic because now L2s capture that value, this is not a very difficult concept. But that’s not really what Ethereum was trying to do. They were trying to export *ETH the money* to these L2s. There is one thing that matters when it comes to ascribing long term value to these “monetary” assets: do people view something as a store of value. Thats all, that is all that matters. Consider this: the US dollar is used as a medium of exchange for trillions of dollars of transactions annually but, given the choice, very few people treat dollars as a SoV (outside of countries that have currencies inflating at higher rate). A medium of exchange is not at all necessarily a good store of value. In fact, and somewhat counterintuitively, a currency can have a stable supply and still experience hyperinflation, if no one has confidence in that currency and no one wants to store their wealth in that currency. So thinking that if something is very useful as a medium of exchange it means it’s a good store of value is not true, you *must* use Nigerian Nairas in Nigeria but I would not choose to store my wealth in the Naira. My point with all of this is to say that there is a (possible) future where Ethereum has 1000s of L2s, is settling trillions of dollars of transactions, and is used as *the* primary medium of exchange and it still is not seen as a long term store of value. The US dollar has incredible utility value but continues to inflate away. Gold conversely, is much more scarce and held to preserve wealth. Foregoing some L1 execution / MEV was a sensible idea *IF* (and only if) Ethereum felt that the social consensus around ETH was strong enough to incentivize people to hold it as a SoV. This is also why the entire “deflationary money” concept seems very misunderstood. The issuance / burn mechanism is literally designed to create an equilibrium where there is effectively ~0 net issuance. In other words, there’s no long term equilibrium where ETH is very deflationary and ideally not very inflationary either. The “yield” again this is how the mechanism works, should always converge on the cost of capital, there’s no future where this is not the case, if “outsized yield” (economic rent seeking beyond the cost of capital) is being extracted, the system self-adjusts, it gets arbed back to a ~risk free rate~ by adding more validators or whatever. Furthermore, this implies MEV + priority fees likely trends to 0 (because execution and ordering has gone elsewhere) on the L1: it’s not a “cash flowing asset” in that sense. So what does this leave you with? Again, just the store of value narrative. Now my original point is that Base is pushing USDC, not ETH. Everything you think about “well gas fees have to be paid in ETH” none of that matters. Those fees are paltry, Base pays Ethereum a negligible amount to settle. So when we have this circular discussion about whether L2s are parasitic, disregard the value capture from fees and MEV, that is always going to zero. Maybe Solana accrues value as a function of MEV + fees (I’m skeptical, but it probably has a better shot on one big layer). But the parasitism is in abstracting away the asset’s primary value proposition, the SoV. It’s an uphill battle but continuing to push social consensus around ETH as a store of value, if you want it to compete with BTC, is all that matters. You literally just want people to hold something forever.

This guy straight-up copied my post *word for word*. Unbelievable.

Trump when he goes up against a woman in the elections

This is unironically peak performance. Trump is making a campaign call, Dana is dealing with a fighter, and Elon is looking at memes on X. 😂

The issue with becoming good at poker is that it makes you numb to stress and it also buries your emotions You become really good at pushing things down and moving on Which is good when you're deep in a tournament and you've just lost a massive pot for the chip lead… But it’s terrible because it lowers the volume of positive emotions you're able to feel You literally need to re-teach yourself to feel good emotions again Like love, trust, connection and peace If you've been in the game long enough, you know exactly what I mean

BlackRock just put out a nine-page white paper that makes case for bitcoin ETF as a "unique diversifier" that can hedge against fiscal, monetary and geopolitical risks, also incl section called "Bitcoin's path to $1 trillion market cap" 👀 Read whole thing here: blackrock.com/us/financial-p…

rt

People always ask me why I don't trade chop. It's got NOTHING to do with "not being good enough" [although much of it is LUCK based]. It's the fact you're DESTROYING your brain. SUFFERING FOR NOTHING. The brain cannot differentiate between an ACTUAL EXPERIENCE and an IMAGINED EXPERIENCE. If you even LOOK at chopping charts, you're eliminating your edge. I'm 100% serious when I say that - SIMPLY LOOKING AT CHOPPING CHARTS IS ENOUGH TO ERASE YOUR EDGE. If you enter a trade and YOU THINK XYZ is going to happen, you'll have already dopaminemaxxed before you can even get the results you were hoping for. Your incentive salience is ALREADY GONE. Your body releases the same flood of hormones if you EXPECT something to happen. In fact, you might release even MORE dopamine than the actual win itself. But because the chop is so severe, there's NO CHANCE you'll get a convincing victory anyway. This is how trading addiction is formed, trading chop. If you THINK about looking at the sun, your pupils will dilate. If you THINK about being in the dark, your pupils will contract. If you THINK about holding something hot, your temperature will go up. If you THINK about holding something cold, your temperature will go down. EVERY THOUGHT RELEASES HORMONES AND CHEMICAL MESSENGERS. If you're CONSTANTLY UNSURE whether or not the market will go up or down, You're conditioning yourself to become uncertain and lose ALL your confidence. The worry about the outcome causes as much problem as the ACTUAL OUTCOME. This is why CT is so unbelievably bearish at times, Their mind has ALREADY perceived the market back to 20K due to the cortisol released imagining going down. Retardio.

Today is the only day you can retweet this

Today we're excited to introduce Devin, the first AI software engineer. Devin is the new state-of-the-art on the SWE-Bench coding benchmark, has successfully passed practical engineering interviews from leading AI companies, and has even completed real jobs on Upwork. Devin is an autonomous agent that solves engineering tasks through the use of its own shell, code editor, and web browser. When evaluated on the SWE-Bench benchmark, which asks an AI to resolve GitHub issues found in real-world open-source projects, Devin correctly resolves 13.86% of the issues unassisted, far exceeding the previous state-of-the-art model performance of 1.96% unassisted and 4.80% assisted. Check out what Devin can do in the thread below.

This post is to raise awareness around the apparent recent spike of collusion on Ignition/Bodog. Likes and reposts are much appreciated In the past, Ignition has generally done a good job at policing games (imo) and has offered generous refunds when cheating has occurred Lately, collusion has reached what I consider to be nearly unplayable levels. No one in my network has been issued a refund despite consistently reporting blatant collusion like the examples below:

@George_ymb Is this your 3h?

Hopefully should be able to get a few more of these, have lit the beacons, but to get the train started here is a small sample at high enough w/r to be significant

A tough conversation for amateur poker players, professional poker players, poker sites & ambassadors and myself!

Compelled to try and understand why the following is so difficult… - Believe that Isreal deserves the right to live in peace while empathising with the 2m Palestinians living under occupation - Sympathise with ordinary Palestinians while condemning Hamas in the strongest possible way - Condemn the celebration of Hamas attacks while understanding why Palestinians are so angry - Be disgusted by Hamas and their campaign of murder and kidnap while fearing for the innocent in Gaza when the full force of the IDF hits - Believe that Isreal deserves the right to defend itself but recognise the IDF has also committed human rights abuses itself Sympathy for ordinary Palestinians who live under both an occupation and murderous dictatorship does not make you an antisemite or terrorist sympathiser. It is sympathy for people who live in poverty under perpetual war. I am shocked and disgusted by what Hamas did yesterday but I find the calls to “bomb the fuck out of” and “glass Gaza” difficult to read. We’ve seen this cycle for decades now, it’s just more death, more destruction, deeper division. All people deserve dignity and the right to live, work and support their family in peace. It is not strong men who drive conflict, it is the weakest men.

@PhilGalfond Would you rather grind midstakes comfortably where you know your edge vs recreationals (less $) or regbattle HS (HU?) with high variance (possibly not even winning any money despite being a 3bb winner because you never get sample big enough +chance you lose heaps/get cheated)

I'm going to do a quick little AMA, To celebrate the launch of my 44-page free ebook, "Poker Mindset Strategy" (link below) I'll answer for 60 minutes straight and then periodically after then. To spread the word, a RT would be appreciated ♥️ Ask away!

From September 11th @NatWestGroup will be limiting the amount of cash that you can deposit and withdraw. They also have the right to refuse cash and even cheques on any basis in their new terms & conditions policy. The banks are trying to force a cashless society upon us!