Rankin ⛓️🏛️

@pironidi Checks out

The algo here is racist. Your tweets will get zero visibility if you’re French tweeting from a terrasse while smoking a Gitane with no filter. Just saying.

@MelMattison1 Something not sitting right, or smelling funny is a perfectly rational explanation for a risk measured rebalancing

I cannot rationally explain what I just did. I have been one of the biggest bulls on X. I just cashed out hundreds of thousands in options positions and over $1 million in equity holdings. I am now around 35-40% cash, with no levered bets, i.e., no options. All I now hold are straight up equities and ETFs, heavily leaning toward precious metals, miners, EM names, etc. Still very significant equity holdings, but my risk was just dialed way the f back for the first time since April '25. Maybe a mistake? Something is just not sitting right with me. Not liking the qqqs getting rejected every time they hit 626, etc. Going to let my equites ride out whatever comes, but hold back this large cash position for possible deployment later. Something smells funny to me.

@koreanjewcrypto x.com/solana/status/…

Every time you think about longing $near just remember how exited they were about Jensen touching their founders arm

@gainzy222 Sir, NEAR just taking a little longer to get going

the good news? strk breaks this diag and it’ll become a confirmed beta play to zec the bad news? near fell off a cliff, it’s not a beta to zec i’ll still hold it, but any $ I add will be to zec and strk it’s privacy season with a concentration on zero knowledge proofs

@Fink_Money Even if the paper value increases by the same amount it's not like you've made money. I think most people would consider that if it was bought for 500k and sold for 750k that you had made 250k but the economic reality is you haven't. People don't factor in interest.

@Fink_Money No one ever focuses on how much the house actually costs to pay off either. They focus on the market value. Let's say I buy a 500k home with 100k down. 400k mortgage at 4% for 25 years. Actual cost 734k, almost 50% more than sticker price.

If the interest rate on your mortgages goes from 2% to 4%, that is a ONE HUNDRED percent increase in your interest cost. Governments like to massage the messaging around tax increases.

@trader_koala $NEAR

Drop some coins I'll chart a few

@MailSport ❤️❤️❤️❤️❤️🙏🙏Please happen

Manchester United have ‘agreed personal terms with Emi Martinez’ as their goalkeeper transfer hunt continues into deadline day ✅🔴

@based16z @vibesdotfun

@Fink_Money Live stream of market maker market making

We’ve all seen these fellas on YouTube and on X. The types who draw nice lines to explain how MaRkEt MaKeRs are controlling the markets with liquidity pools and funny acronyms about shit that doesn’t even make one iota of sense if you have a half clue about market participants. Fellas like this. And this. And this. I think you get the picture... But the only thing you need to know is that this is all complete BOLLOCKS, and is a marketing technique to get you to buy their course (we sell an Academy, we just don’t pretend there is a holy grail super secret method that You Don’t Know About with regards to day trading which is very difficult for most these days — more on this later). If you were to ask them what risk premia harvesting is (effectively how you make money in markets), they would look at you blank eyed like a Xanax’d up sloth. For those that don’t understand what a market maker is, they provide two sided quotes to markets and make money off a spread. I.e, they will quote both a bid and offer and tighten (quote a lesser spread) if they feel they have more information about an asset, which should really drive more flow to that individual market maker, meaning more revenue from the spread (traders want the cheapest cost of trading, simple price signals!). These idiots act like market makers rule everything, that they work almost together as one (in fact they are competing AGAINST each other for flow) and that there are no risks involved. Well let me tell you something — any market maker I know wants to get rid of any lopsided book as fast as possible. They don’t want to hold ‘inventory’, since ‘inventory’ presupposes them to market risks and they want to be DELTA NEUTRAL (i.e they don’t really care which way the market goes, they just want to provide liquidity*). *They will still have a view and might hold if they spot the adequate conditions to offload inventory at a better price, but generally they want to have a flat book at the end of the day. If we return back to the market making risks for a sec, I can provide some backing for this view. Here is the paper I will reference: @economicanalysis/documents/file/oce_riskandreturn0414.pdf?utm_source=www.fink.money&utm_medium=referral&utm_campaign=the-market-maker-method" target="_blank" rel="nofollow noopener">cftc.gov/sites/default/… We’ll start with this part. We find that: 1) HFTs in aggregate make most of their largest dollar profits from Opportunistic traders, 2) on a per-contract basis, Fundamental traders incur the least cost to HFTs, while Small traders incur the most, 3) interestingly, Aggressive HFTs make a large fraction of their profits from Mixed and Passive HFTs, and 4) the effective HFT transaction cost on non-HFT trades is approximately 0.22 basis points. That 1) is key. Market makers these days have become more and more HFT (high frequency trading) focused. Some HFTs are aggressive (liquidity takers i.e not market makers) and some are passive (high frequency market makers, or liquidity providers) and some are considered mixed, (do both market making AND liquidity taking). What’s key here though is that HFTs generally make money from opportunistic traders… Which, ironically, is EXACTLY WHAT THE C*NTS IN THE INTRODUCTION ARE. So while they’re selling you a ‘market maker model’, some HFTs who also do market making are absolutely cleaning up on their flow (if it at all hits the market because it’s more likely their broker just internalises the risk and waits for them to lose). Fundamental traders on the other hand (those with longer holding periods) are not profitable really for these guys. That’s why we focus on this and NOT short term day trading nonsense that everyone knows leaves you pulling your hair out. More on this… Panel A (see reply) shows that Aggressive and Mixed HFTs make positive profits from all other types of traders, while Passive HFTs make positive profits from all other types of traders except from fundamental traders. In particular, Aggressive HFTs make about 45% of their profits (= (7,190,140 + 2,557,038) / 21,952,215 = 44.4%) from adversely selecting the other HFT subtypes. Panel A shows that all types of HFTs make the majority of their dollar profits from opportunistic traders. Panel B describes the profits and losses on a per contract basis. These results provide an estimate of the effective transaction costs involved in trading with certain groups. Since we compute profits on a 1 minute basis while resetting each trader’s inventory to zero, their profits can be interpreted as short-term transaction costs extracted from the rest of the market, not gains from long-term directional positions. Note - when paired against any counterparty, small traders are considered net losers. Bear that in mind when someone shows you a 1 or 5 minute chart next time (this study is done over 1 minute time intervals since these are the timeframes HFTs operate over). Oh, and further to compound these w*ankers’ bullshit, this study was done over a decade ago, and these algorithms and technological capabilities have just gotten more advanced. Do you understand where I am coming from now? The reason why we say in one of the first videos in the Academy is to stop competing in arenas where you have no business doing so is for exactly this reason. To conclude this, I’m just going to quote from the conclusion. Recent theoretical papers have highlighted concerns of faster traders adversely selecting slower traders and competition on speed leading to socially inefficient arms races for speed. Our results suggest that HFTs have strong incentives to take liquidity and compete over small increases in speed in an industry dominated by a small number of incumbents earning high and persistent returns. They are competing on speed and tech. If you’re trading on a 5 minute chart, or see anyone that is, send them this piece. Because they are basically turning up to play golf at Carnoustie. With prime Tiger Woods, Mickelson and Niklaus on the roster. With a strapon as a golf club. And are blind. And r***rded. Anyway, if you want to trade like a HFT, why not just buy the shares of a f*cking HFT and stop doing stupid shit all the time? Here’s Virtu, literally a listed HFT market maker and aggressor. In short, as has been said a million times, market makers aren't your enemy. They're your friend - and actually you can sometimes get better fills on a B Book than if you were seeing your orders go to the open market via STP (in FX for instance).

@0xAbhiP app.near-intents.org $NEAR intents fixes this

> be me, trying to onboard friend into crypto > friend has USDC on polygon, wants to move it to base > tries bridging, hits confirm > needs matic for gas > tries swapping usdc to matic, needs matic again > funds stuck on polygon > finally sends matic from cex, bridges to base > funds arrive, ready to explore > tries to swap on base, needs eth for gas again > no eth on base, funds stuck again > friend deletes wallet, never touches crypto again devs pls find a way to fix, normies just wanna use your chain

@maruushae app.near-intents.org

EVEN A FUCKING PIGEON VOYAGEUR WOULD BE FASTER BROTHER

We need to stop with those decentralised bridge like 5-15 day to bridge, who the fuck you kidding with that brother, ARE YOU FUCKING SENDING CROSS NETWORK VIA PIGEON VOYAGEUR OR WHAT

A good market maker has one job, quoting around mid market, adding as much depth as they can but remaining delta neutral. And the embedded call is nice, because liquidity is valuable, but they are aiming for tight spreads, that’s it!

@Nakameowdough It's almost like the markets prefer a degree of predictability and stability, the status quo, rather than abject fucking chaos

Market was much stronger under the Dems. Trump and the Republicans are giant LOSERS.

Hyperliquidated

My local small town festival has used a blockchain ticketing system from a Scottish startup for years, it never had a token or anything blockchain related front facing, just a wallet where you could transfer tickets p2p after purchase, in 2020 they removed all mention of blockchain from the website because of the optics, it was too 'scammy' and was putting b2b customers off the product citizenticket.com

Just had an insightful 🍻 with a friend. We discussed some of the industry's biggest delusions so far (not exhaustive): 1. Ticketing/Loyalty/NFTs: Your Beyoncé concert ticket, MUN vs. MCI match ticket, or loyalty points from airlines/banks aren't on-chain yet. 2. Money/Salary Streaming: It's 2025, and you're still not getting paid in real-time. Why? A mix of? - No product-market fit - Lack of meaningful innovation - Weak sales & execution - It’s just too early

@NicTrades Shrodinger's gold

This only a week after London defaulted on physical gold deliveries and The Bank of England said gold currently awaiting delivery would only be available in 4 to 8 weeks is very worrying ... the official rules of the "Exchange For Physical" (EFP) between the COMEX and the London Bullion Market require delivery within 14 days

@Nakameowdough Balls tingling

@karbonbased He'll tell you you're lucky at some point

my best friend... i told him to buy eth at $200 in 2020 i told him to buy btc at $19k in 2022 he told me it "felt risky" and instead decided to loan his money to some guy opening a bar in return for the promise of a 20% return in 3 years and the bar went belly up now it's "i wish i could do what you do" "bro what?! just fucking buy when i tell you to" "ok what do i buy now?" jesus fucking christ

@mdudas @forgive_me_AI