Last Week on Crypto Twitter: Is Crypto for Losers?

Gm,

There’s contrarians and then there’s Andrew Tate. Tate went after Crypto Twitter this week, but you better check for yourself what he had to say…

Needless to say this generated a ton of attention (just as planned). We’ll get to the reactions later, but first some more educational stuff…

Whose Threads Are a Must-Read?

Threads are like good [redacted]: one week you don’t have enough of them and the next you cannot keep up physically because it’s so much.

Smaller accounts don’t get enough credit on Twitter, and the list has an account for every niche.

His takeaway? ETH is a great investment because it’s a productive asset (yield incoming from ponzis), so it has plenty of upside. The thread is quite technical, but the short version is “ape ETH responsibly.”

If you don’t have capital to ape ETH, that is probably because you haven’t made it in the bull and have to survive the bear now. Duh.

But fear not, Zero Ika has you covered:

Here are a couple of his best tips:

• Improve technical analysis skills.
• Develop a skill to build income streams.
• Keep an eye on new narratives.
• Bet on builders who are still active and delivering during the bear market.

Check the thread for the rest and get prepared for a wild bull market in the not-too-distant future.

You don’t know what ERC-6551 does?

NFT wallets, baby! Check it out:

Whether that will actually happen… remains to be seen. But it’s worth keeping an eye on the opportunities popping up on Bitcoin.

Wisdom of the Week

The thread section was strong last week, and so was the wisdom section. Sometimes it is easy to get carried away by chasing numbers and forget how risky your investments are. A good reminders from Route2Fi on that:

So how can you make it without taking too much risk? Stay intellectually curious:

Ok, enough with the high-IQ stuff. Here comes the drama (and a lot of it).

Elon Building Twitter

Elon had his hands full last week with fighting on all fronts. After he announced Linda Yaccarino as the new CEO the week before, he went straight back to sparring with some of the biggest names on the platform.

The offending object was the election in Turkey. Twitter got accused of throttling some accounts at the behest of the Turkish government and put out the following statement:

But Elon Musk was not impressed by how political commentator Matt Iglesias implied Twitter is engaging in censorship:

But it got even spicier when Elon picked a fight with billionaire George Soros:

This did not sit well with certain governments or factions of the establishment. Several media outlets questioned whether Musk’s statements were antisemitic, and the Israeli government was not exactly amused either:

Now imagine how much fun Twitter will be in 12 months from now with the US election coming up. Buckle up…

Talk of the Town

The two main topics last week were hardware wallets and memecoins. Nothing unusual, in other words.

The culprit was the following deleted tweet from a Ledger rep. Can’t really say the reaction is surprising when you tweet out something like this:

So obviously, most of Crypto Twitter departed the sinking Ledger hardware wallet ship:

The company later tried to set the record straight in a tweet thread by its CTO, which assured users it’s all fine:

Whether that will really calm the masses…well. You know how it goes in crypto. You either die a hero or live long enough to become the villain. Ledger has the hardware “main character” role now, so let’s see when it can pass it on.

And then there was Tate. Although he isn’t exactly universally well-liked around crypto circles, reactions were mostly positive:

And you can’t exactly disagree with almost all of what Tate says. Yes, most community building is a psyop. Yes, many tokens have 0 utility or added value. Yes, crypto attracts gambling addicts that look for easy money.

And you don’t have to look hard for proof-of-Tate when looking for crypto scams:

Or what about this beauty. The future of finance, everybody:

Draw your own conclusions about how ready crypto and its “community” are for mainstream adoption in between shitcoins on Bitcoin and this.

Our Favorite Coinfession

Respawning the coinfessions in light of all the memecoin madness. Something like this happened probably way too often:

Always remember: for every buyer, there is a seller…

Memes

This round-up has been quite hard on crypto, so time to finish on a positive note. It could always be worse:

Stay safe and stay away from memecoins. Till next week!