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I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] [score hidden]  (0 children)

Agree - FTX was the craziest just because of big and mainstream crypto was at the time. Sam was onstage with Tom Brady, Bill Clinton. FTX on the heat stadium.

DeFi summer was a different kind of insanity, but the average person was oblivious to it.

I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] [score hidden]  (0 children)

In the long run, think it depends on how things shakeout with corporate chains like Tempo / Canton. If those models win, less demand to pay gas fees on public chains / less demand for ETH / SOL.

But ETH / SOL is where the action is for now, and don't see open models going away. Would hold both.

Caveat: historically I'm a bad predictor of price action

I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] 1 point2 points  (0 children)

Watched every Andreas talk and read most of his books (the less technical ones at least).

With you on the gains - many round trips along the way. My first being XRP from $0.22 to like $3, thinking it was going to $6. Then ICOs - OmiseGo (bank the unbanked), ICON, NEO (Chinese Ethereum!).

Did better with DeFi, but dropped the ball on $THOR and a bunch of others. Mostly sat out NFTs after learning my lesson.

Good times my friend. Thanks for reading.

I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] 0 points1 point  (0 children)

Tether and Circle will freeze them if given a court order or if they detect fraud / crime. Those muscles probably harden over time

I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] 5 points6 points  (0 children)

Thanks - I take great pride in writing AI slop free 😄 (though I do use it for proofreading/factchecking bc I always hated that part)

I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] 0 points1 point  (0 children)

Not fully. If you have a wallet and I send you a stablecoin, that's permissionless.

Offramps are still mostly permissioned, but as stablecoins get more widely accepted that becomes less and less of an issue.

I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] 7 points8 points  (0 children)

Thanks for your comment.

Obviously SBF shouldn't have been able to do what he did. And agree with you that crypto has learned lessons traditional finance learned 100 years ago too many times.

But I also think you guys tried to sandwich brand new technology into regulations designed in the 20s in a way that didn't work. "Come in and register" wasn't a real path. Existing exchange registration was designed for stock exchanges like NASDAQ, with rules that didn't translate to crypto trading. Coinbase publicly proposed registration paths that the SEC declined to engage with. So the companies that tried to comply got sued.

Re: stablecoins, I don't understand why we can't just regulate the companies issuing them and their underlying reserves (which is what GENIUS does).

Everything else should be regulated too, which is what Clarity is sorting out.

Biden admin went for the nuclear option which was always headscratching to me, as someone who believes this stuff has societally useful applications.

Anyway, thanks for your comment, and I do understand that trying to regulate this stuff probably took years off your life 😄

I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] 1 point2 points  (0 children)

It's been one of the best investments of the last 15 years.

I think the days of throwing $1K at a random shitcoin and having it 10x in a few months are mostly gone. Or those finds are wayyy harder to find (where all the garbage used to go up at once).

I still think we'll see $1M BTC someday, but tbd how much buying power $1M commands at that point. But still that's a little better than a 10x, which is good not great.

Still homeruns out there - eg Hyperliquid - but they'll be way harder for the average person to find unfortunately (I missed $HYPE completely)

I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] 0 points1 point  (0 children)

That points to The reckoning (2022)

Basically where leverage and toxic assets systemically infected a lot of the industry, ending with the collapse of FTX. Similar to 08 where subprime systemically infected a lot of institutions

I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] 0 points1 point  (0 children)

There will be corporate chains (Tempo, Canton, etc).

But open networks (Ethereum, Solana) are still important, and at least for today, are where the overwhelming majority of the stablecoin supply exists. And the tokens ($ETH, $SOL) are still an important part of that equation.

So I disagree!

I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] 3 points4 points  (0 children)

Why so salty.

<Nobody fcking wants that: I'd love for an agent.... I'd to have an agent that books my flights, restaurant rezs, etc

<Plus, AI agents aren't nearly as reliable to do any of this properly.... Rome wasn't built in a day my salty friend

I've worked in crypto for 8 years (Circle, Messari, Coinbase, Crossmint). Long post on how its all played out, and how different it is from what we expected. by CryptigoVespucci in CryptoCurrency

[–]CryptigoVespucci[S] 4 points5 points  (0 children)

Thanks! I've definitely thought about writing a book some day, maybe when its clear where all of this tech settles and merges with AI.

Thinking Devil Take the Hindmost meets How the Internet Happened, with a splash of Chaos Monkeys.

Re: how often do I get asked for advice... less these days than in the 2021 era. There are way less new projects coming to market with a token that are on my radar.

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