Paper 40: 2022 Influencers
Some take your money; some take your time
Gm team
I have to admit I have gone back into…
NFT Trader Mode.
So this paper is a little lighter. If you’ve been trading with success (or without!) let me know.
Have a great day,
B
Contents
This Week in Crypto
This Week in NFT World
Thought of the Week
Meme of the Week
This Week in Crypto
SBF Catches Heat - Sam Bankman-Fried, CEO of FTX, published some thoughts for the future of crypto regulation which sucked - according to Crypto Twitter.
At a very high level, he suggested that
Nefarious characters should be able to be “blocked”
People should have to KYC so authorities can know who they are when exchanging their money on-chain
Certain DeFi applications should register as broker-dealers
Ryan Adams of Bankless fame replied WITH RESPECT. (I do like it when people reply with respect.)
Why is there such a big fight about this?
A key part of the crypto ethos is the spirit of decentralisation and being in control of your money - so that irresponsible and/or incompetent banks can’t lose your money AND government can’t freeze your money arbitrarily.
This is a HUGE battleground.
As much as we enjoy memeing crypto as magic internet money, the implications of a truly decentralised financial network which bypasses traditional banks, institutions and governments cannot be underestimated.
This is not just about money. It is about power.
So stay tuned.
2. This Week in NFT World
Beanie returns and disappears - NFT Twitter had a heart attack and orgasmed simultaneously as Beanie appeared on a couple of Twitter Spaces.
For people who do not know, Beanie was an incredibly influential thinker and investor in the space before he had a number of accusations levelled at him relating to alleged misdeeds.
As a lawyer (and a litigator), I would love to write the prosecution and/or the defence of Beans just as an intellectual exercise, but to go over the old ground is not the point of this piece.
I want to take it in a different direction to provoke thought:
There are a large number of people who complain about influencers who sell them dreams (and associated NFTs) which may not amount to much in reality.
But the same people do not mind that some influencers have captured their attention and that that time spent will never amount to much in reality.
Time vs money. Time = money.
Where your attention goes, your money will follow.
Control YOUR ATTENTION. Control YOUR MONEY. Take some responsibility. This is crypto after all.
3. Thought of the Week
Patience is so important.
We all want to grow and develop as fast as possible. But I think our anxieties stem directly from that fast as possible aspect.
I keep brainstorming things of how to further the reach of my work: newsletter, Twitter, YouTube, TikTok, LinkedIn.
And in theory these are all great avenues to further myself.
However, they are not all possible at one point in time.
This week I really realised that when I took 4 days to reply to someone on LinkedIn (as I’d forgotten they had even messaged.)
At first I was annoyed at myself for not being able to get to it. But a more reasonable reading of my situation was that I was spreading myself too thinly.
I’ve scaled it back now and am more focused on particular avenues. The other stuff will come.
Patience is so important.
4. Meme of the Week
Just got to wait a little longer team...
Have a great day,
B
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Disclaimer: The content covered in this newsletter is not to be considered as investment advice. It is for informational and educational purposes only.
I hold some of the NFTs mentioned in these newsletters.