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SBF
@SBF_FTX
Replying to
@SBF_FTX
20) And it meant that the people who had no interest in FTT or FTX exited early, and the remaining holders were those who believed in us. FTT wasn't stagnant, it was maturing. And it took time: time which, fortunately, we were fine giving it.
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SBF
@SBF_FTX
21) I tried, and unfortunately sometimes succeeded, to trade away batches of FTT for other things. Then sometimes I'd have to buy it back 25% higher later. My mistake was wanting FTT to be a cash cow that I could sell. That's not what it was, and that wouldn't be healthy.
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SBF
@SBF_FTX
22) That's not what FTT was, or is, or maybe ever will be. And that's ok. When you have a child, you don't hate them for what they're not; you love them for what they are. And when you have a coin, you appreciate it for what it is.
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SBF
@SBF_FTX
23) I had tried, helplessly, to push on lockups so that seed investors didn't sell early. That was silly: FTT had bad, fucked up tokenomics, so it wasn't going to go up for a while. I was trying to fit a square peg into a round hole.
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SBF
@SBF_FTX
24) Instead you let them sell, if that's what they want. And you give it the time it needs to mature. You don't try to sell it, because it's cheap. You let others sell, and you watch it grow up. And you don't try to hype it up when it's not ready. You wait.
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SBF
@SBF_FTX
25) And then, finally, one day, it's ready. It's grown up, and ready to enter the world on its own terms. The past isn't totally gone. It remains, a sort of shibboleth; a club for those who saw it for what it _could_ be, and held, and gave it the time it needed to get there.
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SBF
@SBF_FTX
26) Anyway, in about 4.5 hours, most of the SOL in the world will unlock. For the last year, 2020-01-07 has loomed large. And lots of attempts to build out the Solana and Serum ecosystems have been felled: “sure it has 50k TPS, but LOL have you seen its tokenomics?”
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SBF
@SBF_FTX
28) But, again, I was thinking about it wrong. January 7th, 2021 has always been a part of SOL. There was no escaping it, or pretending it wasn’t coming. I wanted SOL to be something it wasn’t, or at least something the community wouldn’t let it be.
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SBF
@SBF_FTX
29) But today is beautiful. Because today, finally, SOL will unlock. The sellers will sell, or at least those who haven’t already; and the buyers will buy.
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SBF
@SBF_FTX
Replying to
@SBF_FTX
31) Today is the day that Solana becomes free of its ever-present headwind. It took me too long to learn to love SOL for what it was. But today Solana grows up, and becomes free to be itself, and to live--and die--on its own terms.
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John Nahas 🔺
@SJohn_Nahas
Replying to
@SBF_FTX
and
@SBF_Alameda
Dude, I respect you immensely. You legit crush it and props to you. But, how do you say this with a straight face. It litterally broke for 6 hours, it stopped working. I can build the most ambitious rocket ship but if it stop flying for six hours it’s game over.
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SBF
@SBF_FTX
Replying to
@SJohn_Nahas
Reality's a bitch, sometimes. But it is to everyone. ETH was in limbo from The Dao hack for 3 days. BTC has failed to produce new bocks for a day multiple times. SOL was down for 6 hours once, likely after setting the record for most blocks produced. ETC... is always down :P
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