Chris Burniske Profile picture
Partner @placeholdervc supporting the public infrastructure of tomorrow; co-author #Cryptoassets 📔; formerly led crypto @ARKinvest. Find me in the water 🌊
Bill OuYang Profile picture OneWildRally Profile picture 2 subscribed
Oct 7, 2018 13 tweets 3 min read
1/ A PoS industry is rapidly emerging that will someday rival PoW in profits and wealth creation. 2/ That's billions in profit and tens of billions in wealth creation for PoS providers (at current PoW levels), with at least an order of magnitude of headroom.
Oct 6, 2018 15 tweets 3 min read
1/ While new crypto value capture mechanisms can rise to prominence in bull markets, they are tested, hardened and de-risked by bear markets. 2/ Only those that survive multiple crypto bear markets establish themselves as reliable “value capture mechanisms.”
Sep 23, 2018 8 tweets 2 min read
1/ Many tokens currently face stagnant cryptoeconomies, as supply was never spent or earned, but instead brought into existence via balance sheet swaps. 2/ “Balance sheet swaps”= investors in ICOs swapping assets with the issuer, giving birth to a native token without it ever having to go into *circulation.*
Sep 22, 2018 11 tweets 6 min read
1/ @alexhevans recently dug into the numbers behind forks of #Bitcoin, #Ethereum, #Monero & #Zcash.

Main conclusion: Value can’t be forked away as easily as people like to think.… 2/ Secondary conclusion: Despite parent #cryptonetworks retaining users, devs & value, the child forks trade at (puzzling) relative valuation premiums.
Sep 16, 2018 5 tweets 2 min read
1/ When studying non-fungible #cryptoassets, I'm seeing two types discussed: "functionals" and "investment instruments." 2/ "Functionals" are non-fungibles that are meant to be used, a means to access services like ticketing, voting, payment, and more. Best existing examples?
Sep 10, 2018 18 tweets 7 min read
1/ Get ready for a predictable #crypto pattern: in the coming months, we will see an increasing number of #Bitcoin maximalists tormenting “altcoin investors” for straying from the mother ship. 2/ The maximalist drum will get louder as we go deeper into the bear market, with #bitcoin falling less than most other coins, and its dominance index growing.…
Sep 7, 2018 5 tweets 2 min read
1/ Per the analysis below, #bitcoin’s velocity thus far in 2018 has been ~3, about half that of 2016 and 2017. 2/ While a drop in velocity may seem problematic, it’s actually what you’d expect from a *reserve currency.*
Sep 2, 2018 5 tweets 2 min read
1/ Lots of chatter about #bitcoin shorts at ATH's over the last couple weeks & particularly now as someone opened a 10,000 $BTC short position ( > $70M) last night. 2/ The interesting thing with outstanding short positions as an indicator is it can simultaneously be interpreted in opposite ways.
Sep 1, 2018 4 tweets 2 min read
Data as Capital (DaC) vs Data as Labor (DaL):… "DaC encourages workers to find dignity in leisure or in human interactions outside the digital economy, while DaL views data work as a new source of 'digital dignity.'"…
Aug 29, 2018 4 tweets 3 min read
The exchange game is a brutal one. None of the #crypto exchanges I "grew up" with are even in the top 10 anymore, few are in the top 25.… For example, @bittrex #28, @Poloniex #38 -- never used Bitfinex or that would've been my top 10-er.
Aug 27, 2018 5 tweets 3 min read
As of yet, no #cryptoasset is too big to fail-- not even #bitcoin. Too big to fail applies in 2 areas

1) #Cryptoland, where the question is: will crypto be crippled if a core network suffers catastrophic failure (or slow fade 2 obsolescence)

2) Macro-land, where the question is: will global economies be severely affected if X #crypto goes down
Aug 12, 2018 8 tweets 2 min read
1/ Why is #crypto falling so much in 2018? Because in 2017 the market was up > 30x, but adoption (beyond investing & trading) wasn’t concurrently up 30x. 2/ One can try to explain each fluctuation, but these explanations are frequently stories we tell ourselves, stretching to add reason to traders driving a bear market.
Aug 7, 2018 6 tweets 2 min read
As a term, #SmartSecurities > Securities Tokens. Avoids confusion around asset classes. #SmartSecurities are part of the equity asset class, but with a significantly upgraded wrapper & features-- the term, #SmartSecurities, makes that clear.
Aug 7, 2018 8 tweets 3 min read
1/ #Bitcoin's been falling for 9 months now (Dec 2017 - Aug 2018). From 2013-2015, $BTC fell for 14 months (Dec 2013 - Jan 2015) before bottoming. 2/ #Bitcoin then consolidated during Q1-Q3 of 2015, making it ~2 yrs of mostly bearish sentiment from the mainstream.
Jul 31, 2018 6 tweets 3 min read
1/ #Crypto has created a *Republic of Value* reminiscent of the “Republic of Letters,” which some claim seeded the Enlightenment & Industrial Revolution.… 2/ Global diversification of thinkers is key for #crypto as it breeds resilience to any nation's attempt at intellectual censorship.
Jul 29, 2018 4 tweets 1 min read
1/ We’ve come to accept it as normal for Wall St to hold a company hostage to short term thinking & profits, which is a shame. 2/ While shareholder oversight of the company’s managers was born of good intent, it has now become a twisted conduit to prioritize short term profits above all else.
Jul 26, 2018 5 tweets 4 min read
Monster 100+ page #crypto report from @AutonoFinTech: First takeaway graph shows crypto-penetration per country, Japan in the lead w/ 83% awareness 2/ Succinct narrative of 3 waves of #crypto funding:

Bitcoin startups, Enterprise blockchain, ICOs.

#ICO funding in 2018 nearing double that of 2017.
Jul 25, 2018 7 tweets 1 min read
We are seeing a growing trend of “middleware protocols” that aim to be smart contract platform agnostic. Crypto’s “middleware protocols” are developer geared protocols that provide services in addition to the consensus & core functions of the base layer blockchain.
Jul 20, 2018 7 tweets 3 min read
1/ Yesterday’s quarterly #crypto update by @DAR_crypto was filled w/ interesting data:… 2/ Median #crypto returns by size:
Large caps: -61.1%
Mid caps: -68.8%
Small caps: -79.4%
Jul 19, 2018 6 tweets 2 min read
“If we don’t act, that is the most certain fiscal or economic crisis we will have,” said Paulson, who chairs his own institute in Chicago. “It will slowly strangle us.”… "The enlarged deficits and debt also mean that the government has less room to pump up demand than it did during the last crisis."
Jul 11, 2018 8 tweets 3 min read
"World After Capital: Limits of Capitalism" via @albertwenger original link didn't work, this one does:…