Rattibha

2022 Killed Wide-Eyed #CryptoNews Idealism 😔
𝗛𝗲𝗿𝗲 𝗔𝗿𝗲 𝟮𝟮 𝗹𝗲𝘀𝘀𝗼𝗻𝘀 𝗹𝗲𝗮𝗿𝗻𝗲𝗱 𝗶𝗻 𝟮𝟬𝟮𝟮✍
🧵👇
1️⃣/1️⃣8️⃣

2️⃣/1️⃣8️⃣
𝟭) 𝗕𝗲𝘄𝗮𝗿𝗲 𝗳𝗮𝗹𝘀𝗲 𝗽𝗿𝗼𝗽𝗵𝗲𝘁𝘀
Sam Bankman-Fried, the self-styled eccentric genius behind #FTX, is a shaggy-haired 30-year-old gone from “billionaire prodigal son to bankrupt pariah in record time”

3️⃣/1️⃣8️⃣
𝟮) 𝗘𝘃𝗲𝗿𝘆𝗯𝗼𝗱𝘆 𝗶𝘀 𝘄𝗶𝘀𝗲 𝗮𝗳𝘁𝗲𝗿 𝘁𝗵𝗲 𝗲𝘃𝗲𝗻𝘁
Just as investors rushed to praise SBF before the crash, now they are rushing to bury him.

4️⃣/1️⃣8️⃣
𝟯) 𝗜𝗴𝗻𝗼𝗿𝗲 𝗰𝗲𝗹𝗲𝗯𝗿𝗶𝘁𝗶𝗲𝘀
You wouldn't take fashion tips from a crypto investor, so why take investment tips from a celebrity❓
Stick to what you understand✋

5️⃣/1️⃣8️⃣
𝟰) 𝗧𝗮𝗸𝗲 𝗻𝗼𝘁𝗵𝗶𝗻𝗴 𝗳𝗼𝗿 𝗴𝗿𝗮𝗻𝘁𝗲𝗱, 𝗮𝗻𝘆𝘁𝗵𝗶𝗻𝗴 𝗯𝗶𝗴 𝗰𝗮𝗻 𝗳𝗮𝗶𝗹.
#FTX, #Celsius, #3AC declared bankruptcy.
All of them were big, centralized entities. Their leaders failed to keep their promises and eventually died.

6️⃣/1️⃣8️⃣
5) The real truth is on-chain.
#Blockchains are maturing. Only on real blockchain working 24/7 you can find the truth
Everyone is asking #SBF where the money went. If it was on blockchain it could be traced. Now that is on Alameda, can't ❌

7️⃣/1️⃣8️⃣
𝟲) 𝗗𝗲𝗙𝗶 𝗶𝘀 𝗻𝗼𝘁 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲 𝗮𝘀 𝗖𝗲𝗙𝗶.
#SBF failed with his company. There is no company in DeFi. People use it without KYC, it’s open, permissionless and gives people options without needing any centralized intermediary.

8️⃣/1️⃣8️⃣
7) #Decentralized application will rise as centralized entities are dying.
#Centralized entities dying is an example why we need more decentralized initiatives.
You do not need intermediaries to operate anymore. We can do it by ourselves through #Dapps.

9️⃣/1️⃣8️⃣
8) Whatever can be tokenized through NFTs it will
#NFTs are rising. Projects that made quick profits are now gone and we will see more mature projects and collections come out
But the real value of NFTs is through utility embedded & some people started realizing this

1️⃣0️⃣/1️⃣8️⃣
𝟵) 𝗕𝗲 𝗰𝗮𝘂𝘁𝗶𝗼𝘂𝘀 𝘄𝗵𝗲𝗿𝗲 𝘁𝗵𝗲 𝘆𝗶𝗲𝗹𝗱 𝗰𝗼𝗺𝗲𝘀 𝗳𝗿𝗼𝗺.
#Anchor protocol on the #Terra station was like a centralized bank. They had a 20% yield, but it showed that this was just a number they added there for their marketing campaigns.

1️⃣1️⃣/1️⃣8️⃣
𝟭𝟬) 𝗣𝗮𝘆 𝗮𝘁𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝘁𝗼 𝘁𝗼𝗸𝗲𝗻𝗼𝗺𝗶𝗰𝘀
Protocol without #tokenomics is like any currency without fixed supply, they can always ‘print’ more tokens therefore your tokens would be worth less without you even knowing.

1️⃣2️⃣/1️⃣8️⃣
𝟭𝟭)𝗠𝗮𝗻𝘆 𝗽𝗲𝗼𝗽𝗹𝗲 𝗹𝗲𝗳𝘁 𝘀𝗽𝗮𝗰𝗲, 𝗯𝘂𝘁 𝘁𝗵𝗲𝘆 𝘄𝗶𝗹𝗹 𝗰𝗼𝗺𝗲 𝗯𝗮𝗰𝗸
Its true that people have lost their trust in #crypto after the tragedy events that happened in 2022,But they will come back once next cycle begins to run seeking for profits🤑

1️⃣3️⃣/1️⃣8️⃣
12 Timing The Top (Or Bottom) Is Impossible.
13 Avoid excessive leverage at all costs ⚠️
14) Don’t #HODL blindly, keep an eye on dev part of project too
15) If a transparency is broken, it will eventually fail - no matter how big it is 🔻

1️⃣4️⃣/1️⃣8️⃣
𝟭𝟲) 𝗟𝗶𝗳𝗲 𝗶𝘀 𝗻𝗼𝘁 𝗼𝗻𝗹𝘆 𝗮𝗯𝗼𝘂𝘁 𝗰𝗿𝘆𝗽𝘁𝗼𝗰𝘂𝗿𝗿𝗲𝗻𝗰𝘆👊
#Cryptocurrency won't disappear,
but if you don't take care of
your relationships, they might 💑

1️⃣5️⃣/1️⃣8️⃣
𝟭𝟳) 𝗗𝗼𝗻'𝘁 𝗲𝗻𝗴𝗮𝗴𝗲 𝗶𝗻 𝗰𝗿𝘆𝗽𝘁𝗼 𝗮𝗹𝗼𝗻𝗲 🧍🏽‍♂️
In #Crypto your network is everything.
𝟭𝟴) 𝗔𝘃𝗼𝗶𝗱 𝗹𝗼𝗰𝗸𝗶𝗻𝗴 𝘁𝗼𝗸𝗲𝗻𝘀 🔒❌
Liquidity should always take
precedence above additional yield, unless your time horizon is
exceedingly extended.

1️⃣6️⃣/1️⃣8️⃣
19) Don't borrow to invest 🙅‍♂️
20) Speculating and investing are two different things
21) History suggests there will be more bubbles, so you should be able to spot one🗨🧐

1️⃣7️⃣/1️⃣8️⃣
Last & 𝗺𝗼𝘀𝘁 important lesson:
22) Not your keys, not your crypto.
People who had money in FTX can't get their money back. If that money was on #blockchain and you had your keys, you could. Any CEX can fail, and you might lose all your funds. 🔐
Beware ✋

1️⃣8️⃣/1️⃣8️⃣
If you find this thread useful then do like, share and for @cillionaire_com for such more threads ❤😄

Categories

More from this author

Related Threads

Popular Threads

Categories

More from this author

Related Threads

Popular Threads

Unroll Thread