This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. PHEMEX is also celebrating their two year anniversary by sharing 2 BTC with 10 lucky winners to help them realize their dreams: https://anniversary.phemex.com/#dream-sectionSam Bankman-Fried has been a force to be reckoned with in the crypto space, with influence extending far beyond the companies he owns. He has been a relentless presence in the regulatory arena and has even proposed guidelines to the SEC, essentially offering to do their job for them. He just penned an incredible thread laying out a roadmap for crypto. In the 25 Tweet thread (HERE), Sam covers: what crypto currently has, what crypto is missing, what we need to focus on, and what our goals should be. I copied my favorite thoughts from each of these segments below.“A solid userbase. There are probably ~200m crypto users worldwide. An enormous amount of attention. Seriously, crypto punches _way_ above its weight on this one.”“Well, blockchains are starting to scale, but it's not enough yet. We're at ~50k TPS; industrial scale applications often require millions. And, while digital assets hold huge promise for payments, in practice very few are done with them today.”“Well, let's start with regulation. The biggest thing here is to work collaboratively on ways to address current regulatory gaps while allowing liquidity to move onshore -- to the US, and to Europe, and other jurisdictions.”“And I'm optimistic that we might get there in the next few years; that there is a light at the end of the tunnel. This means slow, hard work; building out the network until it approaches transition points where enough merchants and consumers use crypto that payments and remittances start flowing.”The thread is an important read if you are looking for an honest assessment of the state of crypto.In an unrelated side note, I want to remind you how important it is to be patient. The market has been stale and boring, with little news and few catalysts. Bitcoin is still ranging on low volume. There is practically nothing happening on the chart.My goal with this newsletter is to help you become a better trader and investor. The first rule of trading is to preserve your capital. The second rule is to grow it. I take the first rule very seriously, and try very hard to avoid posting trades in an uncertain market.Patience is a virtue and that especially rings true now. Entering into mediocre trades will yield mediocre results. If you only trade the best opportunities in an ideal market, you will trade less but you will have greater success. There's very little to do right now, but that ideal market will return soon.My advice to long-term investors remains the same - continue to stack sats. I will talk more about this tomorrow.In This Issue:SBF On The State Of The MarketBitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsIs Your NFT Rare?Announcements IncomingThe Wolf Of All Streets Podcast Ft. Matt KalishMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
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The Wolf Den #401 - SBF On The State Of The…
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This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. PHEMEX is also celebrating their two year anniversary by sharing 2 BTC with 10 lucky winners to help them realize their dreams: https://anniversary.phemex.com/#dream-sectionSam Bankman-Fried has been a force to be reckoned with in the crypto space, with influence extending far beyond the companies he owns. He has been a relentless presence in the regulatory arena and has even proposed guidelines to the SEC, essentially offering to do their job for them. He just penned an incredible thread laying out a roadmap for crypto. In the 25 Tweet thread (HERE), Sam covers: what crypto currently has, what crypto is missing, what we need to focus on, and what our goals should be. I copied my favorite thoughts from each of these segments below.“A solid userbase. There are probably ~200m crypto users worldwide. An enormous amount of attention. Seriously, crypto punches _way_ above its weight on this one.”“Well, blockchains are starting to scale, but it's not enough yet. We're at ~50k TPS; industrial scale applications often require millions. And, while digital assets hold huge promise for payments, in practice very few are done with them today.”“Well, let's start with regulation. The biggest thing here is to work collaboratively on ways to address current regulatory gaps while allowing liquidity to move onshore -- to the US, and to Europe, and other jurisdictions.”“And I'm optimistic that we might get there in the next few years; that there is a light at the end of the tunnel. This means slow, hard work; building out the network until it approaches transition points where enough merchants and consumers use crypto that payments and remittances start flowing.”The thread is an important read if you are looking for an honest assessment of the state of crypto.In an unrelated side note, I want to remind you how important it is to be patient. The market has been stale and boring, with little news and few catalysts. Bitcoin is still ranging on low volume. There is practically nothing happening on the chart.My goal with this newsletter is to help you become a better trader and investor. The first rule of trading is to preserve your capital. The second rule is to grow it. I take the first rule very seriously, and try very hard to avoid posting trades in an uncertain market.Patience is a virtue and that especially rings true now. Entering into mediocre trades will yield mediocre results. If you only trade the best opportunities in an ideal market, you will trade less but you will have greater success. There's very little to do right now, but that ideal market will return soon.My advice to long-term investors remains the same - continue to stack sats. I will talk more about this tomorrow.In This Issue:SBF On The State Of The MarketBitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsIs Your NFT Rare?Announcements IncomingThe Wolf Of All Streets Podcast Ft. Matt KalishMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO