shitcoin lover, crypto trader, bitcoin investor, smart drug user, Mikro dosing.
Joined July 2014
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C.A.T retweeted
If this proposal passes, it would be the rug pull of the year. Everything is wrong with it:
1) Why would you sell your business to Synthetix - a failed and totally nonsensical protocol to begin with?
2) Especially considering that Derive (ex Lyra) was part of Synthetix and left precisely because it knew, better than anyone, that Synthetix is bad.
3) Derive is generating more revenue than Synthetix itself and actually has a future if execution is solid and the team’s promises are not fake.
4) Synthetix isn’t even buying Derive with real money. They’re minting ~30 million SNX out of thin air to make the purchase. Genius.
5) The funniest part? Synthetix won’t just acquire Derive’s operations and tech, it’ll also take over its treasury, which is currently ~$6 million. If you try selling 30 million SNX on-chain, you’d be lucky to get $1 million USDC. That’s an easy 6x profit for Synthetix from tokens they printed for free.
6) Let’s not forget that Lyra was previously valued at $150M FDV before it launched a new token for Derive, for absolutely no reason other than raising another round from angels and @echodotxyz (btw, -90% ROI probably the worst Echo deal ever?) and rekting token holders (aka lock lyra to get bigger derive airdrop, choose vesting and get more, etc etc).
7) Now, after the rebrand, the valuation is down to ~$25M and things are so bad that a Synthetix acquisition is even being considered.
I have no idea how someone can justify selling Derive to Synthetix for no real money and fkin vested for 1 year (newly printed snx that is worth nothing and there are chances that in 1y snx might not really exist at all). Either your business is so bad that there are no good buyers for it, or this is a crime season.
I understand that Derive is in a bad spot (lost all valuation, lacking adoption, etc etc) but you are very vocal that your product is one of the best, you still have big enough treasury to have a few years of runway.
Keep working and if you really think you need to sell the business to survive, at least find a good buyer. Mountain protocol is a great example. They didn't have much traction but they got acquired by a big tradfi business that is aiming to expand into defi massively and they need defi expertise.
A proposal has been posted to acquire Derive via an SNX-for-DRV token swap.
If passed, Synthetix will acquire Derive’s treasury, technology, and product suite, with DRV holders receiving SNX under a defined vesting schedule.
Read the full proposal: forums.derive.xyz/t/dip-synt…
C.A.T retweeted
Gold ATHs..DXY about to go south..Come on Bitcoin stop following that shitty stock market...do what you supposed to do!
C.A.T retweeted
THE END:
Of US Treasuries and to a lesser extent US stocks as the global reserve asset. Since Nixon took the US off the gold standard in 1971, US treasury debt outstanding grew by 85x. The US had to create the credit dollars necessary for the growth in the world economy. This was good for some Americans and bad for others. Trump was elected on average by those who believe they didn't share in the US "prosperity" of the last 50 years.
If the US current account deficit is eliminated, then foreigners do not have dollars to buy bonds and stocks. If foreigners have to juice up their own nations' economies they will sell what they own, US bonds and stocks, to fund their nation-first policies. And even if Trump backtracks on the severity of the tariffs, no finance minister or world leader can risk Trump changing his mind again, and therefore things cannot return to the way they were. You must do what is best for your country.
THE RETURN:
Of gold as the neutral reserve asset. The dollar will still be the reserve currency, but nations will hold reserves in gold to settle global trade. Trump hinted at this because gold is tariff exempt! Gold must flow freely and cheaply in the new world monetary order.
A lot of those who had it good are in the denial stage, and share a delusion that somehow things will return to "normal". Poppycock.
For those who want to adapt to a return to pre-1971 trade relationships, buy gold, gold miners and $BTC.
That's enough on tariff shit. My next essay will focus on why USDCNY is going to 10.00 bc there is no way that Xi Jinping will agree to change China in the ways necessary to placate Trump. This is the super bazooka $BTC needs to ascend rapidly towards $1 million.
C.A.T retweeted
These new famous people in crypto are cretins that suck the life out of the industry
Take me back to 2016 when the only people that were here actually cared about building
9 years later the industry is lobotomised
C.A.T retweeted
To all you shitcoin founders about to TGE. Work with your market makers and exchange partners to open the market at lower prices. This chart is ugly not cause the project is dogshit but bc the price is too damn high. Bring your users on a wealth generation journey with you.
C.A.T retweeted
One thing I learned very early on in my trading journey is that losing money makes most people do two giant mistakes:
1) Revenge trade
People want to make back what they lost
Losing money generally feels worse than making money, you feel like you're owed the difference by the market and deserve to get it back
-Revenge trades are never systematic and are taken during extreme mental volatility and stress
This almost always ends in a huge additional loss, even if the revenge trade WOULD be correct, it is often closed early and flip flopped because there is no good reason to take it in the first place
2) Get hilariously bearish
The reasons for this are quite simple
I) Now that you've got (in your eyes) little money to invest, you want prices to go down so you can buy back what you had (or more) cheaper
-This almost never works out, you'll either lower your target as price goes down to avoid another mistake and never buy or price will simply go up
II) It's hard to admit you've made a mistake
The market generally going down a lot after you've lost money makes it easier to avoid the reality that you've fucked up big time
"I lost money trading but so did everyone, not really my fault, even if I held XYZ I would've been down"
-This will simply make your entire thinking biased just to avoid deservedly calling yourself a retard and more than likely will put you in a headspace that'll ruin you in the long run
Accepting the fact you will be wrong from time to time is the bare minimum for a trader
C.A.T retweeted
BREAKING:
52,000 tokens were launched on pump
dot fun yesterday and you wonder why
we are not getting Altseason.
THIS SHIT NEEDS TO STOP OR
PEOPLE NEED TO STOP GAMBLING
THIER MONEY ON THESE LAUNCHES
C.A.T retweeted
one thing is clear..
we must bounce here over the next few days / weeks.. otherwise we loose support and it's over.. goblintown over..
but if we do bounce here.. think about it this way..
we went fast and strong to highs in December..
followed by a -80%+ altcoin crash to where we are now..
biggest liquidation event ever.. deadest sentiment ever.. no ALTSEASON callings all over the place..
in my opinion max pain is up only..
we are building tension.. maximum compression..
frist we went up.. followed by a brutal shakeout.. just to build up compression at the ultimate lows..
think about it like gravity.. or a ball u put under water.. gravity or density will push it out of the water.. the deeper u push the ball, the higher it will fly once it reaches a critical point..
we are there.. maximum under water.. maximum compression.. and we gonna max fully power force send this shit out of the fkn Stratosphere..
if not it was nice knowing y'all..
keep the faith brothers and sisters..
it ain't over until it's over..
hope dies last..
praise the lord..
amen
🙏🏽
C.A.T retweeted
The only time you ever see CT tweet alt season is when alts have already gone up a lot
Why is it I never see alt season calls when the market just full blown capitulates like a couple days ago?
Much more likely that's the start of the alt season but no one tweets it
C.A.T retweeted
$TRUMP
First take. My opinion could change.
Good for crypto, bad for humanity.
It’s a gratuitous cash grab, not sure how anyone can argue against that. The future and past President of the United States launched a token at 10 pm on a Friday night and insiders sniped the supply. The remaining 80% is also theirs. Making billions on vapor.
That’s the bad for humanity part.
The good for crypto part?
Donald Trump is likely onboarding millions of new people to the space.
Let’s just hope it doesn’t dump.
C.A.T retweeted
BREAKING: The supply of @ethena's USDe surpassed $5 billion.
The supply has doubled since mid-October.
