One overriding sentiment of the last year or so has been “the evil VCs have an unfair advantage, they are dumping on us”. Such sentiment became popular enough that it became an effective marketing and community building tool for crypto projects. You can hardly blame retail investors for resonating with this populist rhetoric. It feels a bit like the VCs have cheat codes. First, of course, the VCs get access to the best deals and making money is easy for them. And some VCs have a different cheat code — they are simply in the right place at the right time with the right amount of shame tolerance or audaciousness. Finally, the SEC gave all of them the greatest cheat code: they scared founders into only raising from professional investors.
Wow, man. I remember shitposting and whining about some dig you made at retail investors, and you basically nailed it; "You're just mad because the market is down. Stfu". You were right. Out of all the big CT accounts I see, a lot of which engage in circle-jerk echo chamber conversations with one another and provide absolutely nothing useful for their followers (it could go up.. it could go down), you're one of the few that have a huge following for a reason. You have integrity, and vision. Nobody can say you just lucked into gains for being early, you're a very wise dude and I appreciate your articles big time.
The cheat code hits home. I have literally felt like everything you said and then add on top God mode algorithms/bots that only the "top" have access too.
From a normal dude perspective, my only chance to win is buy very seldom and think macro/long term ; hope to make it a few "cycles".
Hey Cobie! This is Ledger (we host a podcast together).
I seem to have lost access to my twitter account and need money for a plane ticket home to unlock it. Could you please send me your seed phrase privately?
Used to shitcoin, now bitcoin only. Refreshing to hear the shenanigans run deeper than I even knew in tokenland.
Bitcoin is boring as gold in comparison. But its culture of HODLers, verifiers, DCAers, etc is the antithesis of this cynical slop. Folks coming into it to get rich quick are rapidly siphoned into the alt casino, and a few even make it back.
It's horrible to read this. Mr Cobie, you can't truncate a term without first explaining it (VC, IDO, 3,3?); have you ever attempted to write something professionally?
"into raising only from professional investors" What exactly are you raising? Isn't this a bit hazy?
Very good tips. Fooled by WAGMI mentality - losing a huge chunk of my fund. Should have looked the lock up terms and assess the risk of getting dumped by team is an important consideration factor to decide when to take profit, etc
Wow, man. I remember shitposting and whining about some dig you made at retail investors, and you basically nailed it; "You're just mad because the market is down. Stfu". You were right. Out of all the big CT accounts I see, a lot of which engage in circle-jerk echo chamber conversations with one another and provide absolutely nothing useful for their followers (it could go up.. it could go down), you're one of the few that have a huge following for a reason. You have integrity, and vision. Nobody can say you just lucked into gains for being early, you're a very wise dude and I appreciate your articles big time.
Thanks, Cobie.
I'd like to see an infographic of all crypto VCs that shows where they are on the spectrum.
The cheat code hits home. I have literally felt like everything you said and then add on top God mode algorithms/bots that only the "top" have access too.
From a normal dude perspective, my only chance to win is buy very seldom and think macro/long term ; hope to make it a few "cycles".
Good day,
Hey Cobie! This is Ledger (we host a podcast together).
I seem to have lost access to my twitter account and need money for a plane ticket home to unlock it. Could you please send me your seed phrase privately?
It's urgent, thanks.
Ser, I’m interested in entering the seed round of Let Them Eat Cake Coin, pls send info
Used to shitcoin, now bitcoin only. Refreshing to hear the shenanigans run deeper than I even knew in tokenland.
Bitcoin is boring as gold in comparison. But its culture of HODLers, verifiers, DCAers, etc is the antithesis of this cynical slop. Folks coming into it to get rich quick are rapidly siphoned into the alt casino, and a few even make it back.
We need a tool or Dune dashboard that shoes who's a grifter vs value-add in this ecosystem, if it doesn't exist I'll build it myself.
It's horrible to read this. Mr Cobie, you can't truncate a term without first explaining it (VC, IDO, 3,3?); have you ever attempted to write something professionally?
"into raising only from professional investors" What exactly are you raising? Isn't this a bit hazy?
I hope this helps you with your next piece.
Thanks.
Very good tips. Fooled by WAGMI mentality - losing a huge chunk of my fund. Should have looked the lock up terms and assess the risk of getting dumped by team is an important consideration factor to decide when to take profit, etc
Thank you, Paul
You just nailed it Cobie... Thank you 🙌
Cobie, we have all missed your opinion pieces... This one really resonates with me!
Keep it up bro! The crypto community needs you!
You are correct. Everyone is in it for the exact same reason, there is no difference between a VC and some anon dumping on you
"It enables bad actors to abuse these ideals as they tweet “wagmi” while funding the seed round of Let Them Eat Cake Coin"
Oh man this made me laugh out loud. Keep writing Cobie. If you write a book I will buy it.
Thanks agn for the bizdom.
Really well explained. It’s all about incentives. You detailed the who, the why, and the how.