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2) NOT INVESTMENT ADVICE. DYOR. CRYPTO IS VOLATILE. NOT SELLING TO AMERICANS. I HAVE CONFLICTS OF INTEREST. etc.

3) I missed the boat on $YFI. twitter.com/SBF_Alameda/st I was like "man this is expensive and also I don't really get it". The market was like LOL.

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When $YFI first came out I thought it was silly. I guess I was missing two of the key insights: one was that it was building, not forking; the second was the builder. <3 @AndreCronjeTech twitter.com/AndreCronjeTec…

4) I guess I made two mistakes. First: its yield provides value. This can be true whether or not you think the things _giving_ the yield in the first place do. Second:

is a baller.

5) But really I made a third, bigger mistake. twitter.com/SBF_Alameda/st "Do you wanna make money or do you wanna be right" $YFI bulls made money, no matter what else you say. $YFI went up, which means it had demand.

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Aug 28, 2020

ok so #FF you should follow @cmsholdings but actually don't bother just read their tagline, write it on the back of your hand or something, and then any time you're going to tweet something look at your hand first

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6) But I think the tagline hides a more powerful truth. Is it *really* making money vs being right? Sometimes markets are silly. But also sometimes if you think the money-making direction was wrong, it's just because you don't realize why it's right.

7) I was wrong about $YFI in retrospect. But also when I saw what the community was saying, I should have taken that as a sign that maybe there was something I was missing. I didn't want to make money, I wanted to be right. And in the end that led me to also being wrong.

8) There are some hills I'll die on; $CRO / $SXP ratio is wrong. But I've gained a lot of respect for "stupid" methods. During the early days of SRM some people were like "idk I don't see it". Others were like "idk I don't see it, but probably soon I will." Soon everyone did.

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