Jay
@jaypatel
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cofounder of @lygosFinance | ex @anchorage bitcoin, markets, credit, interesting things
Joined October 2013
If the market has you thinking about selling your bitcoin: 1. Read the greatest introduction to bitcoin; you are now bullish again 2. Move to self-custody if you haven’t already 3. If you really need liquidity take out a non-custodial loan @LygosFinance
"Owning bitcoins is one of the few asymmetric bets that people across the entire world can participate in." The Bullish Case for Bitcoin is now published as a single shareable article: https://t.co/q0pMX04Bcb
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how timely
Bear markets shake out the weak willed. Leaving those here for the mission. 🎙️ @jaypatel (CEO - @LygosFinance)
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Please don’t delete all of the “Bitcoin is crashing” posts. I want to dunk on all of you dummies when Bitcoin hits $200k
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if you are a private credit lender, lending against bitcoin non-custodially is the best allocation you can make today. highly liquid collateral (even in current markets), real marks. no need to underwrite management teams, fraud, double pledging
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"Bitcoin has no intrinsic value". Yes! You're right. And that's exactly why it IS valuable.
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the best model right now was not trained on nvidia chips. that statement still feels really weird to say.
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Seems like some of the details here are still unknown, but the outcome here was in some ways quite predictable. 1. Everyone would love risk-free bitcoin yield. 2. There is no structural premium for these network tokens beyond the economic value generate (read @santiagoroel
Maple Finance stands firmly in defense of lender rights and confirms there is no impact to our broader business operations as a result of the recent Core Foundation statement. The dispute is strictly limited to the pilot program conducted in partnership with Core Foundation for
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People are about to learn a hard lesson in how quality management teams matter (and how few of those there are in treasury companies)
@TheOneandOmsy Don’t have a horse in this game, but all these treasury companies in the short term succeed on marketing, getting retail to drive up the premium. The blowup in most of these cases is not the inverse. It’s not a sustained decline in premium that’ll be the death knell it’s the
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keep your bitcoin close
There's no Bitcoin loan product that's truly trustless. Yet. But instead of trusting humans with your pristine collateral. You can trust in code. The outcomes in DLC's are pre-determined, and the oracles can be checked on what they are saying is true. You get a system that's
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Ironically, the best time to take out a bitcoin backed loan is probably when other people are getting margin called on theirs
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shitcoin exhaustion is real
[ ZOOMER ] MONAD ICO SITS AT 45% SUBSCRIBED IN THE FIRST 6 HOURS, WITH OVER $100M REMAINING: COINBASE
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these are connected, individual investors will become the exit liquidity for investors in poorly underwritten privates
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a year away from midterms its sad that other than a single pardon we've really just had incredible grift. genius was a centralizing (largely pro-incumbent) bill, wouldn't be surprised if the self-custody provisions are stipped from clarity.
There is no excuse to give @RealRossU a full pardon for running a marketplace, and leave @keonne AND @SamouraiDev hanging in the lurch for writing software. Software is speech, and speech is not a crime.
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we deserve a recession
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