In crypto, value investing requires betting directly against the hype cycles and trends.

In crypto, value investing requires betting directly against the hype cycles and trends.

https://paragraph.xyz/@idle/value-investing-in-crypto

I write about tech + humans + philosophy. Farcaster OG. FID 3305 founder of /theindex 

https://www.joanwestenberg.com/

Owner of /routinehub + /jellycuts, empowering devs to code from their mobile phone, starting w/ Shortcuts. Formerly: AMZN AI, META, Deadmau5.

Almost all crypto assets are securities and should be treated as such

The challenge I find is that most assets with intrinsic value ultimately are securities. Great for buyers but problematic for sellers —who are then forced to price correctly to cover the overhead brought by securitization.

I read "The Intelligent Investor" many moons ago.
The mo-mo trades of the Nasdaq Tech  bubble (pre 9/11) were a sight to marvel at (valuations based on website click etc.)

Interesting piece.

1) How do you accurately calculate intrinsic value when the steady state economics of these assets are essentially unknowable today?

2) A key aspect of MoS is the stability of the earnings stream (i.e. EPV). When all value is predicated on future growth, it’s tough to buy there is a strong MoS.

Builder / musician / degen

Creator: https://www.swatchify.xyz/ 
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For me it comes down to off-chain knowledge applied on-chain. 

IE my areas of expertise are content, community and media; so my value investment picks are going to be things like ILV on the gaming front for its content and community crossover, Degen for its content and community crossover.

great piece and great insights.

I try to follow these but personally find it hardest to reconcile ‘stick to what you know best’ and diversification. What feels like a diverse portfolio within 1 chain ( ex. base ) is likely highly correlated assets but hard to go deep on more than 1 ecosystem for me. 

🙏!