Great read. Well written as he walks you through his thought process and execution. My big takeaway is STOP making excuses why you can't do something. He didn't know anything about Tradfi but he figured it out, took action and iterated quickly. Take notes.

Thoughts... The sweet spot is having enough exposure to wake up excited to open the charts and see what the fuck happened overnight, while still being able to sleep like a kid. Enough to care, never enough to fear.

UPDATE: @Avici says all affected card balances will be refunded in full after 1,685 users lost a combined $500,859. Card issuer Rain identified a vulnerability in a Solana card contract used by Avici and several other programs. The contract has since been upgraded.

Been a hell of a ride since I started accumulating ZEC around here. After this post, it dipped to low $200s. Since my time horizons on it were long and I had built up my own conviction, I was unbothered. I held & bought more. ZEC is my second largest position behind SOL & I am still actively accumulating on dips under $800 (Picked up ~$600K more this morning). Have not been this convicted on a coin since solana:So11111111111111111111111111111111111111112 sub $20.

Today is a good day to be a solana:So11111111111111111111111111111111111111112 bull SGP-0002 Double Disinflation proposal JUST PASSED Thank you @mert for stepping up late to help push this through. Shoutout to @krakenfx for the late vote change and @galaxyhq for helping push this over the line in the last few minutes. 🙏

It seems that many people randomly voted no for Solana disinflation velocity at last second instead of having any discussion under a false facade of thinking it somehow preserves extra revenue through yield for them The math is that if you believe avoiding an extra 19M SOL being printed can affect valuation by as little as 1.03%, it'd be more profitable to vote yes, even as someone who relies on inflation yield, not to mention the mimetic element for new capital The people who prefer the quantity of the asset vs the value of it should immediately move to Venezuela and let other SOL holders know how that works out It is mathematically nonsense to vote no to preserve miniscule marginal inflation revenue unless you believe that inflation is less than a 1% factor in the valuation of an asset

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I’ve said this before and will say it again (I’ve seen many good soldiers killed by it): Leverage should be understood as an accelerator of time rather than a multiplier of risk. I am almost certain the person cranking it to 10x isn’t sitting there thinking, “I would like ten times the variance.” Nah, he is thinking: I have 100K and I just cannot tolerate how fucking long the unlevered path to 1M takes. The algo has completely fried our sense of how long that path is supposed to take. It disproportionately feeds you the 20-year-old who supposedly made $30M or the token that hit 100x overnight, and now with social trading you get to watch all of it happen live. So you end up recalibrating your clock against outliers. Add to that the fact that we are now being called uncs and plumbers at 30, and suddenly making it at 35 feels mediocre. It’s all a lie.....DO NOT believe it.....It’s an artificial deadline for success created by capitalist propaganda. If you are thinking or using leverage, understand what the actual fuck you are getting into. The more leverage you use, the less room there is for anything to go wrong. At zero leverage, being “right eventually” can still make you money, but as you crank it up, “eventually” starts disappearing. Being right on direction is no longer enough if the move happens too late or price takes the wrong path before getting there. And it gets worse once you understand ergodicity.....If you are a leverage junkie, you probably haven’t heard the word, so let me introduce you to it: Your outcome is determined by the sequence you live through, not by the average across hypothetical outcomes, and if one event in that sequence wipes you out, everything that could have happened after it becomes irrelevant. So when you say, “I only have a 10% chance of liquidation,” you are usually thinking about that trade in isolation. But you are going to trade again and again.....keep introducing a small probability of terminal failure into a long enough sequence and eventually that probability has a very good chance of finding you. Which is why the obsession with being early in life becomes so destructive. It makes you waste the one thing you have in abundance: future attempts. Do not collateralize them through leverage because you think you are running out of time. Get rid of that moronic idea.....You are not old at 30, 50 or 60.

Think $SOL is about to make a big comeback and is the most asymmetric major over the next 6 – 18 months. Some notes. 1. After 10 months in a row of down only, most retail and funds have capitulated, leaving only committed holders 2. One of three index assets alongside BTC and ETH that both retail and institutions will reflexively bid once it’s clear we’re back 3. Highest concentration of revenue generating apps and some of the strongest network effects of any general purpose L1 4. Solana has the most credible path to scale of any L1 w/ slot times approaching 200ms by end of Sept 5. Upcoming SIMDs will strengthen SOL economics through increased fee burns and lower inflation. Estimate Solana REV could 2x – 4x in next year easy 6. Stablecoin volumes rivaling Ethereum, Tron, Base for top payments chain 7. Tokenized equity volumes are ramping with Solana as the leader across all L1s 8. Long tail markets like memecoins, TCG, and MetaDAO “ownership” (startups) coins are all accelerating 9. Social trading apps like Fomo and Pump are onboarding a big wave of new users with Solana as the largest beneficiary There were many reasons to be critical about Solana over the past year, but the past is becoming past. Fundamentals look great and the value capture story will only improve with each passing quarter. Targeting much much higher.