GraveyardShift: June 12th - 18th
Welcome to the first edition of the graveyard shift weekly recap. The goal of these blog posts is to provide context going into each weekend's graveyard shift twitter spaces.
Yes you can mint the article for $5 if you would like and that is more to support our efforts each week and make the spaces better.
How to use mirror on Optimism
Tweet of the day
Monday https://twitter.com/JasonYanowitz/status/1536365738906202112
Tuesday https://twitter.com/0xPolygon/status/1536733038327271424 https://twitter.com/opensea/status/1536756396158599168
Wednesday https://twitter.com/0xBender/status/1537150079030546432
Thursday https://twitter.com/thedefiedge/status/1537465349976694786
Friday https://twitter.com/cobie/status/1537808898219966464
Squirt11es Thoughts What a week! Monday was one of the most bearish and depressing days I've seen in my many years in crypto. This 2022 grind downward has been slowly shaking people out and the most shocking drop was going into Monday.
Celsius flew a bit too close to the sun with its degen minded allocation of customer funds and is a perfect example of something to remember. If there is a flaw in your financial system you are swimming with sharks. If there is blood in the water the sharks will come and take advantage.
The only reason people's funds are locked in Cel is because a centralized system decided to be greedy and hurt the masses. You know what didn’t break?
Actual DeFi protocols!! Where there is a transparent smart contract showing all the math. Aave, Compound and Maker all keep working as expected. Decentralization is a real value, time and time again the market is shown why it’s valuable. Not your keys, not your crypto.
Enjoy the grind and have fun building for the next bull run.
Phibacka31 Thoughts
Things are getting a bit hot, and not in the fun kind of way. New people in the space are chasing tokens without much knowledge and NFT collectors are taking massive losses selling as the market trends downward. My key would be: Never invest what you can’t afford to lose. This is not fun for ANYONE but at the end of the day if you are able to hold and wait longer, the chance of some of your assets recovering has a much better chance of happening.
Protecting the space is imperative. For widespread adoption to happen, we need to make sure that the bad actors are held accountable. With that in mind I point you to the ever popular Sherlock Holmes of Web3, @Zachxbt . His most recent thread was on none other than massive Bored Ape holder, Machi Big Brother. Throughout his pinned tweet, he goes through the numerous schemes that Machi has apparently pulled over the past few years all while withdrawing a massive amount of ETH. Please check out this thread for more detail:
The point of pointing out what Zach is doing to drive home the importance of paying attention to the space. There are so many people attempting to build here and there are just as many trying to use you as exit liquidity. Stay safe.
I am extremely excited for NFT NYC. In real life experiences are just the best, in my opinion. Though in our web3 world of Twitter spaces, and metaverse “experiences”, we are able to have conversations and interact, it is still so much better and more dope to sit across the table from someone and talk about the newest mint and the artists that are breaking through the noise. I can’t wait.
Dontfeedwolfeth Thoughts “We had the vision, we just didn’t have the vehicle” - Ian Rogers (What’s Real & What’s Hype with Web3: https://vimeo.com/721071761/6094f33428
Earlier this week I listened in on a pre-NFT.NYC conference talk between Scott Galloway & Ian Rogers discussing web3. For context to the quote above Ian was talking about 98-2002 boom and bust/bubble as many called it. When Ian created Winamp and saw the future for a music subscription service, it just wasn’t meant to be on Windows.
There were other great quotes and snippets from that talk, but I wanted to open with that first one because he then proceeded to talk about how after the crash is when the real builders stuck around and continued working. It wasn’t until 2007/2008 when the first iPhone came out and the whole “internet dying fad” narrative became a huge meme.
Blockchain technology (and yes this includes NFTs) is just waiting for its iPhone moment. Focusing on UX improvements and that includes incorporating seamless cross-chain experiences, bridges through the backend without the user being stressed to figure it out and our heavy load transactions taking place on Layer 2s and ZK Rollups, nearly gasless and/or pennies for gas while protected by the security and decentralization of Ethereum underneath.
“We’re moving away from a world of username and passwords to logging in with your wallet.”
Another great “ah-hah!” moment. He proceeded to talk about all the community access with token gating/verification and how it’s more efficient than membership into our own country.. I bring all this up as the sentiment is more bearish than ever to remind everyone of all the great things this technology can offer and that it isn’t going anywhere. Yes shit gone insane, euphoric, and people paid A LOT of money for Pixelmon’s bullshit (among other things).. But the real builders and those who are here for the right reasons will continue doing work and building the future while the tourist are off looking for the next shiny thing or scheme.