Chris Burniske Profile picture
Partner @placeholdervc; co-author #Cryptoassets 📔; formerly led crypto @ARKinvest. Xeets not financial advice. Disclaimer: https://t.co/Xp0VJsuufc
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Feb 5 11 tweets 4 min read
1) You are responsible for every investing decision you make. If you blindly follow what other people say, with no opinion or critical thinking of your own, you're playing a fool's game. Not only will you not hone your practice, but you’ll likely lose money in the coming yrs 🧵 2) I see an increasing amount of misinterpretation in my replies, and many long-time CT personalities showing signs of exhaustion (public or voiced 1:1), which tells me there's a new bumper crop of Xeeters amongst us...

A lot of the misinterpretation comes from not accepting what *you* are responsible for, or misunderstanding the the high-level lay of the land. Start with: the less entitled you are, the more you'll learn.
Jan 5 6 tweets 2 min read
For those asking for a market update from me, I don't have much of an opinion. I'm not a trader, but a long-term investor, and move glacially. Have learned when you don't have a strong view, it's best to do little 🧵 Long-tail names have already gone higher than I expected, and it seems $BTC ETF approval is imminent. Can argue that ETF approval brings new flows (bullish), or is a sell-the-news event (bearish).

We'll see ¯\_(ツ)_/¯
Nov 21, 2023 7 tweets 2 min read
More is not always more. #Ethereum is here to stay, but bridging UX, transaction cost, and L2 interop+centralization problems need to be discussed & addressed with vigor, as opposed to presuming to have won the crown of the next Internet. This is more a warning to ETH-influencers, than it is to ETH-builders, as the convos I'm having with Ethereum builders are increasingly including concerns around coordination complexity and decision-making complacency.
Nov 4, 2023 15 tweets 4 min read
From its 2022 bottom, $SOL has now outperformed $ETH 3x.

I ❤️ $ETH, grew up professionally alongside Ethereum’s rise, continue to support many Ethereum projects, and stake ETH to this day.

But this cycle, $SOL has been, and likely will continue to be, the faster horse. Image The market distills all available information and is the final arbiter of whose theses are right and wrong in an investing context.

Someone who has claimed $SOL is worthless, or inferior to $ETH, has now been walloped by the market since December 2022.
Sep 26, 2023 4 tweets 1 min read
With the recent takedowns, it’s worth internalizing there are good investors who have influence, and there are influencers who pretend to be good investors. Understanding where people derive their influence, and what they’re *actually good at* is important to determining whether you should take their thoughts seriously or not.
Aug 28, 2023 4 tweets 2 min read
"Despite the bear market, in 2022 stablecoins on
several Layer-1s (L1s) transacted $6.87 trillion, overtaking @Mastercard and @PayPal." -@Jamie1Coutts

No wonder PayPal launched $PYUSD... Image "Though stablecoins' transaction growth has been exponential, and transfer volumes outpaced the likes of Mastercard and PayPal in 2022, they still only have 0.5-3% of the throughput of traditional payment networks." -@Jamie1Coutts

Scaling improvements incoming... Image
Aug 12, 2023 4 tweets 2 min read
In 2023 #Ethereum fees have climbed 176% vs. the price, up 53%. The relationship between the two was instructive for the last bull market when fees outpaced price in 2020 after a two year decline. -@Jamie1Coutts Image The activity migration to L2s in the past year has proved wildly successful for Ethereum. In the last 12 months, hundreds of thousand of new users have been onboarded into Web3, as active L2 addresses increased by 245% to over 900,000. -@Jamie1Coutts Image
Jun 12, 2023 4 tweets 1 min read
Existential doubt about crypto’s future in 2023 is the prerequisite for the types of multiples that people will gawk at in a few yrs — the specifics of doubt change each bear, but the doubt always emerges.

Something that’s a consensus long by society doesn’t print 10-100x’s. Most people don’t have the stomach to be doubted for so long, and persist.

Most hardcore doubters can’t resist the temptation to pile on here, thinking they’ve won.

It can feel overwhelming.
May 30, 2023 8 tweets 2 min read
Never ceases to amaze me how humans chasing hot balls of money eerily resemble mosquitoes drawn to the light. Don't be a mosquito 🧵 "Crypto is dead, long live AI!" the current chorus from the mosquitoes. Whereas in reality, both crypto and AI will thrive -- that said, good tech can be a bad investment at the wrong price.
Mar 26, 2023 12 tweets 2 min read
1/ A number of people asking me what I think about crypto in the context of the current banking crisis, regulatory fights, Balaji's bet, and so on - so here goes... 2/ Current banking crisis is bullish for crypto long run. Short-term we're likely in the eye of the storm, so expect volatility, but the banking crisis has been monetary policy-induced (too much, too fast with rate hikes) and will be "solved" by monetary policy.
Mar 19, 2023 4 tweets 1 min read
The longer I operate in markets the more I accept price leads narrative. Narratives drift about in the ether, but they typically only become viral phenomenons that reinforce price, when price has shown enough direction in line with that narrative.
Mar 17, 2023 4 tweets 1 min read
$ETHBTC likely to fake people out with weakness, before breaking out to the upside post-Shanghai in April. $BTC rallying while banks falter is a critical moment for crypto, and so we should all cheer that story.

When $BTC chooses to rest could neatly align with $ETH's staking de-risk push, post-Shanghai.
Mar 1, 2023 4 tweets 1 min read
We cannot expect governments, corporations, or other large, faceless organizations to grant us privacy out of their beneficence. It is to their advantage to speak of us, and we should expect that they will speak.

-Eric Hughes To try to prevent their speech is to fight against the realities of information. Information does not just want to be free, it longs to be free.

-Eric Hughes
Feb 26, 2023 7 tweets 4 min read
Ordinals have catalyzed a cultural shift in #Bitcoin that will work to $STX's benefit. For those that want more programmable uses of $BTC, applications built on top of @stacks will provide what they seek. With @stacks' upcoming releases not only will trustless $BTC come to the $STX L2 -- $sBTC -- but we will also get hyperchains, which allow for high-throughput and low-latency applications: hiro.so/blog/introduci…
Dec 30, 2022 25 tweets 12 min read
1/ Still longing $SOL while haters spinelessly pile onto the downside momentum. When @solana recovers, it's not me that will be haunted by the thought, "Instead of jeering, I could have been buying $SOL ~$10." 2/ @VitalikButerin recently asked me what I like about @Solana and so I'll share with the public an adapted & threaded-version of what I wrote to him 🧵
Dec 8, 2022 4 tweets 1 min read
1/ People who lose conviction in Web3 here, and hop to the new hot thing, will join a crowded trend while losing the opportunity to develop strongholds within now uncrowded but important future digital realms. 2/ My comment comes in part from seeing lots of strife at crypto teams rn. While painful, this process allows teams to hone direction. Some will leave, but those that remain have greater cohesion & conviction in what they're doing. What comes next is another wave of innovation
Nov 30, 2022 4 tweets 2 min read
Strongly believe @solana is healthier w/o SBF. With his following, he was part of raising it to relevance, but Alameda became a tumor of community extraction, which would have hampered network growth had it continued. Now the tumor has been extracted, allowing accelerated healing The comradery I'm seeing amongst those committed to @solana after the fall of FTX reminds me of the comradery I saw amongst those committed to @ethereum after "The DAO" hack and $ETC fork in 2016.
Nov 18, 2022 8 tweets 1 min read
1/ Hysteria, hysteria, hysteria 😱

We’re on the flip side of the manic late 2021 high in crypto, and everywhere I look people are babbling irrationally, predictions are outrageous, and everyone is addicted to the bird app.

My approach 🧵 2/ Remain calm, remain rational. Things are rarely as good or bad as they seem. Remember that rumors get out of control in a time like this. I see errors in logic everywhere.

Yes, things are peak fear for crypto right now, it’s okay to feel scared, but we will get through this.
Nov 14, 2022 4 tweets 1 min read
The hysteria out there feels like a combination of emotional momentum & engagement farming to me.

Have seen this behavior before, typically after we’ve bottomed. Of the bearish folks I speak with, none can identify the near term forced sellers for me.

Even if crypto.com does go under, it’ll just enter bankruptcy proceedings and later auction assets.
Nov 13, 2022 4 tweets 1 min read
Side comment that my upbeat tune is less about expecting a face ripping rally, and more that when I see everyone flip in a direction (this time it’s overly bearish) we’re getting to the extreme end of that sentiment. In such a situation, “alpha” rarely lies in going further in the direction where everyone already is, but instead to question how or why the crowd may be wrong.
Nov 11, 2022 4 tweets 1 min read
Just personally bought securitized $BTC for ~$9K and securitized $ETH for ~$800 using @Grayscale. Call me crazy ¯\_(ツ)_/¯

ty @BarrySilbert