Conversation

Replying to

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

Aug 30, 2020

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.

Quote Tweet

SBF

@SBF_FTX

Aug 30, 2020

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…

SBF

@SBF_FTX

Aug 30, 2020

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.

Quote Tweet

SBF

@SBF_FTX

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

Show this thread

SBF

@SBF_FTX

Aug 30, 2020

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.

SBF

@SBF_FTX

Aug 30, 2020

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.

SBF

@SBF_FTX

Aug 30, 2020

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.

Replying to

and

What do you think is wrong about the SXP / CRO ratio?

Replying to

idk without looking it up what do you think the relative value of SXP and CRO (Swipe and crypto.com) is?

Replying to

and

I think SXP is (theoretically) undervalued in that ratio against CRO... with the difference in mcap currently ~17x but I also think that this is quite speculative as I’ve used both apps and feel like Swipe has some catching up to do until that’s a fair like for like comparison

SBF

@SBF_FTX

Replying to

@3DigitsMusic

totes agreed! Except that also I think the swipe team is baller and will in fact catch up

4:01 PM · Aug 30, 2020Twitter Web App

Replying to

and

Does it matter (ratio) until there is a big (market) inequality? You can short SXP but can not short CRO, and even the extreme high CRO inflation, most people are staking without the possibility of selling/hedging. Let's do a futures for CRO and see the ratio thereafter.😂

Replying to

and

💯

Replying to

and

$SXP rise is undeniable and will be sooner than pple think. Alr 30mil sxp is staked on chain, loads more on binance. Sell side is thin af

Replying to

and

30 millions is nothing

Replying to

and

Lag in app development is no reason for lag in mcap. It merely takes some development capacity, time and resources to fix app. $sxp team is actually catching up at lightning speed...