Crypto circa 2016 - Chef - Cashed out, Housed Up!
Joined September 2017
- Tweets8.8K
- Following2.6K
- Followers4.2K
- Likes12.4K
Chef Dizzy retweeted
Congratulations to the #SniderHockeyLeague champions from the 10U, 12U, and 14U divisions:
- 10U - Tarken Titans
- 12U - Scanlon Cats
- 14U - Tarken Titans
We are so proud of all of our student-athletes for playing hard and supporting their teammates over the last two weeks.
Chef Dizzy retweeted
Passed Pawn's Perspective
1. Fed is on track to cut this month. The incoming data will determine if it's a one-and-done or a series of cuts. My lean is the former, but we just have to wait for the data. I don't believe the Fed will ignore inflation rising significantly from here.
2. The Fed didn't drop the 2% target. Powell's speech was over-analyzed. They've missed the target for years, and that's not about to change, but if a new inflation wave is confirmed and growth remains around trend (which has fallen), they will act and the politicians will have to support them.
3. At the moment, they expect growth and hiring to slow enough to prevent inflation from becoming a bigger problem. If they are wrong, the question is how they respond, and that will determine if you short SOFR or the USD.
4. None of this is to dismiss the attacks on Fed independence. They are deeply troubling and nobody in the financial markets should be cheering them on. Anything can be good short term but in the long run, it won't be good for anyone.
5. Global rates are rising incessantly. Repricing of inflation expectations and risk premia for holding long duration bonds? Makes sense, as it wouldn't be hard to draw the conclusion that we are in a structurally higher inflation world now, so portfolios have to re-allocate to reflect this risk.
6. Along those lines, it's not a surprise that precious metals are performing so well. They are the universal stores of value, not related to any fiat currencies and not subject to the wild liquidations and shenanigans of the crypto markets.
7. Given the rate moves, I've seen renewed calls for YCC. There are so many reasons why that is very unlikely to happen in the US. But also remember that markets are often self-correcting. If rates rise quickly enough, equities will fall and capital will reallocate to bonds, especially if the curve is steep enough.
8. The dollar has remained very stable lately. It's like we've found some equilibrium, which is normal even during regime shifts. Markets have to adjust and consolidate after a large move like we saw in 1H25.
9. But big picture I continue to see actions that undermine the long term relative appeal of the dollar. The latest one is the govt taking a stake in Intel, seemingly by coercion. This is state capitalism and leads to corruption, general misallocation of capital and reduced competition. Negative catalysts aren't always reflected in real time. There's a reason "the straw that broke the camel's back" is a popular phrase.
Hope everyone had a great summer.
-PP
Chef Dizzy retweeted
Ethereum’s validator entry queue hit its highest level in 2 years, with over 860k ETH worth around $3.7B currently waiting in line.
Full breakdown in the thread:
Chef Dizzy retweeted
Ethereum's closest competitor is not as close as it appears to be. Here's a reality check:
ALT Ethereum market share dominance vs. its closest competitor.
Chef Dizzy retweeted
Anyone who told you to sell $ETH should be unfollowed and blocked.
They tried to keep you away from generational wealth.
Chef Dizzy retweeted
Yes, stripe and circle EVM L1s are good for Ethereum.
Don't midcurve it.
In the mid 90s there was a similar midcurve - call it the Intranet midcurve.
The received wisdom at the time was that intranets were much more important than the internet. That the success of corporate intranets would come at the cost of the permissionless internet.
This wasn't just media fud. Many the big tech companies thought this.
Some headlines at the time:
"Intranets Will Dwarf Internets.” — BusinessWeek (Feb 25, 1996).
“1995 was clearly the ‘Year of the Internet,’ 1996 is well on its way to becoming the ‘Year of the Intranet.’” — Internet Society (1996)
“Market analysts are predicting that intranet growth, based on revenue, will leapfrog Internet growth by a factor of two between now and 2000.” — IEEE Computer (Jan 1997).
“ We believe there will be something like a 10-1 ratio of intranet to every Internet site in the federal government.” — Washington Technology (Sep 26, 1996).
“The next step is the national intranet” — WIRED (Dec 2, 1996)
What ended up happening is in the history books.
There was no fixed pie. It was win win. And mostly, it was a win for the internet.
Every corporate intranet accelerated the rise of the global internet and a worldwide network of networks was born.
The open, permissionless, decentralized internet protocol spawned businesses and apps that could never exist in the bowels of a corporately controlled network. Different use cases.
Every corporate L1 will connect to Ethereum. Doubley so if they're based on the Ethereum Virtual Machine (EVM) which these are. Many will become L2s.
A company ledger will never be the world ledger.
Don't midcurve it.
Ethereum = world ledger
ETH = world reserve asset
Chef Dizzy retweeted
In my view, and the view of our model at @EMJCapital ETH is going to $10,000.
And almost no one understands why.
Here’s what our model sees coming — and why the next leg up could catch everyone off guard 👇
Chef Dizzy retweeted
Who won the launchpad wars?
The launchpads won, you morons
They collected fees nonstop while you all argued about where you would rather get rugged
Chef Dizzy retweeted
Let me tell you why Tom Lee is the most bullish thing to happen to ETH this year.
Tom Lee was the guy in 2017 on CNBC calling for $55k bitcoin when it was trading at $2k.
Wall street people thought he was insane.
I remember the segments.
The anchors would smile and be like Ok Tom, let's talk about stocks now.
This is back when Jamie Dimon said he'd fire any trader who touched bitcoin and Buffet called it rat poisoned squared.
Tom didn't care. He'd keep talking these crazy bitcoin prices week after week.
Whenever they'd let him he'd show charts - how bitcoin’s price grows like network effect squared with users x tx value - his quirky fixation.
Most of wall street completely missed bitcoin.
Now think about the audience today.
Every mainstream investor just spent the last 8 years watching Tom do 5,000% on his insane bitcoin price calls.
So this week something new happens.
Tom Lee launches an ETH treasury with $250m in ETH buys.
He goes on CNBC and says ETH is the next bitcoin.
He says stablecoins are crypto's ChatGPT moment and stablecoins make ETH more valuable.
You think wall street isn't listening this time?
Get ready for FOMO season.
ETH is going up.
Chef Dizzy retweeted
Opened an old wallet and saw a graveyard of rugs and dead mints.
Projects with founders who vanished faster than my ETH.
A graveyard of FOMO, hopium, and questionable decisions
Honestly… wtf was I thinking 😅
Chef Dizzy retweeted
I've tried everything (ethical) in this space.
Devoted thousands of hours to helping a community grow, supported artists trying to help them grow.
Poured not only my money, but my time & passion for the future of this space into everything I did.
It's been a wild ride. Met a lot of really great people along the way.
As time went on, I watched the space devolve into an unrecognizable dystopian place of lies, cheats, and social influencers taking advantage of the little guys. (like me)
I hope I've had a positive impact on a few people's lives, and thank those who have impacted mine positively.
After a series of unseen irl circumstances have played out poorly, I have finally hit my rock bottom.
Call it a "gay", or a "skill issue" or whatever the kids here say these days idc.
I outlasted most of the people I started here with (most left '23) but I've just never seen this place in such shambles.
The people with 'power' have insatiable levels of greed, and there's absolutely no sign of stopping. They've already poisoned the next wave of people into believing "this is just what it is".
Not thrilled to post something like this, but it's the truth.
I tried.
Chef Dizzy retweeted
Key points from Chairman Paul Atkins’ remarks today at “DeFi and the American Spirit,” SEC’s Crypto Task Force Roundtable on Decentralized Finance – a 🧵
Chef Dizzy retweeted
fix your company's stock price with this one simple trick
ticker is $ETH (gas token for buying $MOG)
A company called 'SharpLink Gaming' has announced a $425 million strategic Ethereum reserve strategy 👀
ConsenSys is the lead investor with @ethereumJoseph joining the board of the company.
The ticker is ETH!
Chef Dizzy retweeted
The $400 million private jet, gifted by the Government of Qatar, is not a gift to the United States but a personal gift to Donald Trump. This distinction lies at the heart of the controversy, fueling Trump's frustration when pressed by reporters. Let’s examine the facts objectively to assess whether this jet serves the public interest or Trump's.
1. The U.S. does not need this Jet. The U.S. currently operates two Air Force One aircraft, designated VC-25A, which are modified Boeing 747-200B jets. Though commissioned in 1990, these aircraft remain fully operational and have safely transported presidents for decades. While older, they meet the stringent security and operational standards required for presidential travel. The Qatar jet, a luxurious Boeing 747-8, referred to as a "flying palace," offers no critical functional advantage over the existing fleet.
2. New jets are already on order. Boeing is building two new Air Force One aircraft, designated VC-25B, based on the Boeing 747-8 platform. These state-of-the-art jets are designed to replace the aging VC-25A fleet. However, production delays have pushed their delivery to 2027 for the first jet and 2028 for the second, later than the originally planned 2024 timeline. Trump has expressed dissatisfaction with the current jets, citing their age and perceived lack of prestige. The Qatar jet is a stopgap measure to satisfy his desire for a more luxurious aircraft sooner, rather than waiting two years for the first of the VC-25Bs to arrive.
3. This is a costly retrofit for temporary use. To serve as Air Force One, the Qatar jet requires extensive modifications to meet the military and security specifications of a presidential aircraft, including advanced communications, defense systems, and reinforced structure. These retrofits will cost taxpayers tens of millions of dollars, if not more, for a jet that would only be needed until the first of the new VC-25Bs is delivered in 2027. This expense is unnecessary given the functionality of the current Air Force One fleet and the imminent arrival of the replacements.
4. Unlike a gift to the U.S. government, which would remain federal property to use or dispose as it sees fit, the Qatar jet reverts to Trump’s presidential library after his term ends. This raises concerns about its long-term use. Perhaps it will serve as a private jet for the Trump family under the guise of “spreading the Trump legacy?" Even if not, the jet remains the exclusive property of the Trump Library, and will not benefit the U.S. government or taxpayers after Trump’s presidency ends.
Trump argues it would be foolish to decline a “free” $400 million jet. However, apart from violating the Emoluments Clause of the U.S. Constitution, which prohibits federal officeholders from accepting foreign gifts without congressional approval, the jet is completely unnecessary. The U.S. already has two operational Air Force One aircraft and two more on order. Forcing taxpayers to fund tens of millions in retrofits for a temporary, personally motivated upgrade contradicts fiscal responsibility, especially amid the nation’s significant debt challenges. True leadership in tackling the national debt requires sacrifice, starting with the president making do with the existing fleet until the new jets arrive in 2027 and 2028.
The irony and hypocrisy is stark: the Department of Government Efficiency (DOGE), championed by Trump to eliminate waste, fraud, and abuse, should scrutinize this very transaction. Accepting an unneeded jet, then burdening taxpayers with retrofit costs for a short stint as Air Force One, that primarily serves personal prestige, arguably embodies all three—waste, fraud, and abuse. If Trump cared about fiscal discipline, he would reject this lavish gift and prioritize the public’s resources over personal luxury.