I make Bitcoin make sense Investing @cryptonativecap
Omaha, Nebraska
Joined May 2021
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One of the least known but most legendary wallets on Ethereum: The Zombie Wallet, aka, cx000.eth.
They claimed 29 punks, including *18 Zombies*.
They've diamond handed all but 1 Zombie and hold 19% of the Zombie supply.
That's over $17m in Zombies 🤯 with a cost basis of $0.
yeah just lever up the s&p. risk free. low drawdown.
what a great idea.
Long Term Capital Management also had very low max drawdowns until it went down 92%
Ex-Tudor PM Tom Costello (@tcoste110) on how hedge funds sell alpha without beta:
"The University of Texas endowment doesn't need me to invest their beta."
"Go buy the S&P, margin it two to one, give me the rest of the money. I'll deliver a stable, steady return, which you will layer on top of the S&P, less the cost of financing."
"My fund, as an example, returns about 20% a year, a very, very low drawdown. You can fund that on margin at about, let's call it 5%. That means you're going to outperform the S&P by 15% every year."
"That's the general principle behind the strategy of delivering alpha without beta, stripping out all the beta, stripping out as much of the gamma as you can get away with."
"Those risks don't really show up much in hedge fund returns. It's mostly beta and gamma."
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Charlie Munger: "The whole secret of investment is to find places where it's safe and wise to non-diversify. diversification is for the know-nothing investor."
Every altcoin basket ever launched has trailed Bitcoin.
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Another All In pundit trashing Bitcoin and shilling an altcoin.
Let’s check the receipts:
Bitcoin was at $3,700 when Jason first told his followers it was going to $0. and saved his followers from a 21x.
TAO is down -20% since he told his followers to swap half their BTC to TAO. BTC is up 14%.
Bitcoin succeeds because it’s a bottoms up movement and the elite can’t stop it. And it pisses them off retail was able to post higher returns than they could. Always has and always will.
A brutal year for Bitcoin is just getting started.
Give me three minutes to explain why you should dump it now.
Outflows from ETFs are signal and will continue.
We will test the 57k low again in the next 12 months.
Why?
Because there are far too many dynamic places to put your money that are creating MUCH more value.
Why put your resources into a dead network that offers nothing beyond a store of value?
What's the point of place the BTC be if Bitcoin's Ponzi-scheme nature has gone away!?!
The viral nature of bitcoin was it's power... if you didn't own you were MOCKED!
Now? Completely reasonable, heck, SMARTER, to ignore bitcoin and place other bets!
No one is trying to convince people to buy Bitcoin anymore... the memes and NFTs are gone.
No one is saying $ BTC can change the world, because it won't — and BECAUSE AI HAS!
Just sell and shift from Bitcoin to Super Intelligence because one provides little to no value, and the other provides unlimited upside for humanity.
This should be obvious to everyone right now.
Bitcoin will never break its all-time high again.
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Holdings alts has become extremely difficult for me, even in small size. The more I look at the data the more I understand just how unlikely any single one is to outperform btc over a period of time more than a year. The opportunity cost is enormous
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ready to have your mind blown? 🤯🤯🤯
since 2015, bitcoin bought after a fed rate HIKE has outperformed bitcoin bought after a fed rate CUT.
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Time for a new PFP. I sold my punk.
I will always love cryptopunks. I wish the market saw in them what I do. Unfortunately they are tied to ETH and always will be.
Chammath has publicly stated he fumbled his Bitcoin bag.
He's claimed he's owned 5% of the supply in 2012 which would be worth nearly $40b today.
In 2014 he bought land in Lake Tahoe for 2,739 bitcoin which would be worth $128m today.
He invested his remaining bitcoin in Digital Currency Group which has been involved in active litigation after the Genesis bankruptcy.
I'd be salty about Bitcoin too if I fumbled the bag that hard.
This Chamath clip is polarizing.
He trashes the Bitcoin thesis and spends 2 minutes shilling effectively Zcash.
That being said, as a Bitcoin holder, I don’t agree with his views on hacks. Feels off, but maybe he is being authentic.
Either way, it’s a major push “away” from Bitcoin and sets up what he’s pushing “towards”, so to speak…
$ZEC $BTC
Annual bitcoin returns thru 10/20:
3 years +40.2%
4 years +44.0%
5 years +4.3%
7 years +38.9%
10 years +62.7%
is it finally time to expect higher returns going forward?
Annual S&P 500 returns thru 9/30:
3 years +22.9%
7 years +16.2%
10 years +15.3%
15 years +15.7%
20 years +11.2%
30 years +10.3%
40 years +11.5%
50 years +11.9%
Is it finally time to expect lower returns going forward?
awealthofcommonsense.com/202…
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Warren Buffett: "Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble”
Buy Bitcoin
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Bitcoin is the best compounding machine ever created
There is no second best
Every week I send a letter to tens of thousands of investors covering the most important charts and themes in markets.
Join here: bilello.blog/newsletter
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Worth a watch and good takes.
@tulipking i'd caution against looking at altcoin total market cap because investors can't actually buy that. they can buy coins which get inflated down as market cap goes up. so investors actually lose when total market cap goes up.
Bitcoin is responsible for almost all returns in crypto and distorts return data because it's a large part of indexes.
Buy and Hold good coins, my thesis for the cycle. How I'm picking cryptomoneys and money making protocols. +plus my detailed thoughts on Ethereum & Solana
0:25 the dot-com crash
3:52 the '21 cycle vs now
6:13 this is a selective market
10:52 crypto money vs everything else
24:05 coins that make money
26:37 buy the good projects and wait
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Indeed. I remember crypto twitter saying all you need is 1 bitcoin and it seemed so outlandish at the time.
Turns out, it's true.
Keep stacking
Looked at some of my old Coinbase account transactions this morning and thought about how we had no idea just how good we had it back then.
Honestly believe they'll say the same thing about where we are now in another nine years.
Just keep stacking.
Still early.
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