One of the few strategies that stands the test of time is to trade against mainstream media.https://twitter.com/whalepanda/status/1022194354025390080 …
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Replying to @QWQiao
Short eth?
Rekt
Like shorting Apple in 2008 at the dawn of the App Store4 replies 1 retweet 29 likes -
Except Cryptocurrencies are Money not Equity... And Money is winner-take-most if not winner-take-all...
2 replies 0 retweets 11 likes -
Replying to @MustStopMurad @garrytan
I still haven't seen a convincing first-principled argument why money is a winner take all. Just because it was the case for gold doesn't mean it'll be the case for crypto-currencies.
7 replies 1 retweet 14 likes -
Isn't it just the Metcalfe arg? Ie, say you have 2 networks, one with 10 users, other with 100. You can make 100x more (assuming n^2 Metcalfe) connections on the 2nd network, so as a new entrant, that's the obvious one to engage with. And each new entrant reinforces this dynamic.
1 reply 0 retweets 2 likes -
Obviously a lot more is going on (for one, profit incentive of being early in a new/small network causing extreme motivation to advocate for that network), but I think the Metcalfe approach (& derivatives) is the 1st principles arg.
1 reply 0 retweets 2 likes -
That's assuming one can only enter one network.
1 reply 0 retweets 1 like -
It's assuming that more people, on balance, will enter the 2nd network because there's *some* friction to entering networks. If you assume *any* friction, the 2nd network should win.
1 reply 0 retweets 1 like
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