In this episode of UpOnly, Cobie & Ledger talk to Keyboard Monkey and Flood Capital about what to do and how to manage through the bear market.
Audio Version
Links
Show Partner
This episode is presented by FTX. Trade on an awesome mobile interface fee-free, and still get all the great portfolio tracking features you know and love: https://uponly.tv/ftx
Show Notes
Intro
⁃ Last time Flood was on the show he got into a debate with Matty Sino and got dunked on but Flood ended up being right
⁃ Flood was also 19 last time he was on UpOnly
⁃ KBM thinks we’re at a local bottom probably but market still isn’t acting strong
⁃ Finally achieved a de-coupling but not in a good way
⁃ KBM has now decided it’s not the bottom and he needs to market sell all positions and touch grass
NFTs
⁃ Flood wasn’t really interested in NFTs until he joined Delphi and internally a lot of people were big into it
⁃ Cobie thinks you should buy double and then sell some day one to de-risk but has yet to successfully do it himself
⁃ Goblin town team may have hired some goblin grunters for the twitter space
⁃ Milady community grew into something of its own but the stories behind the original group was just too bad to keep
⁃ CT favourite projects never do well – Ledger is staying in Flufs
⁃ Flood wants to see more than 10k in a supply. Cobie doesn’t think it will be a worldwide thing and 10k is plenty
Alt Coins
⁃ KBM isn’t focused on alts at all once the bear market arrives you can see the emperor has no clothes
⁃ Cobie: “The further you go down by market cap the more stupid you feel for having bought anything”
⁃ KBM: “Valuations have gotten away from us it was all just liquidity games at the end”
⁃ Cobie thinks there are 5-10 products in crypto with actual PMF
⁃ Flood: “The imagination trades can take off really hard in a bull market but long term you need to accrue value and deliver to to holders”
StepN
⁃ KBM: “One of the first things outside of NFTs that has attracted regular people to it”
⁃ Although the price is down badly with it today over regulatory issues in China
⁃ FTX Ventures just funded a wellness app which includes Sleep2Earn
⁃ We need Work2Earn now
Delphi Digital
⁃ Cobie: “They make really good Eiffel Towers”
⁃ Flood is part of Delphi Research
⁃ Flood: Delphi Labs was where most of the Terra involvement was. Research and Ventures were mostly insulated from it
⁃ When Labs decided to start building on Luna most of the UST demand was from Chain and then Mirror with real demand
⁃ Anchor then came along and eventually thesis drift happened when yield remained high and unsustainable which led to Delphi taking an L
⁃ Delphi Labs motto is live by the sword die by the sword
⁃ Cobie: “DeLphi”
⁃ KBM: “We thought it was going to get saved again because a drunk Jump MM guy at F1 told us to cover shorts by Monday and cost us a lot of money”
⁃ Luna is being split to Luna Classic and Luna2.0 is being airdropped
Surviving The Bear
⁃ KBM trying to get away from the screens and slow down but has been chopping himself in the range. Is going to travel and scuba dive
⁃ Flood is going to keep doing his job at Delphi and try to find the next 100x. Wants to buy something OTC from Cobie who owns a lot of the supply of but the name can not be mentioned
⁃ Cobie travelled a lot last bear and tweeted much less this time he might try be healthy after ten years of crypto. Feels like the ten year journey grind to make money is over and now it’s time to be contrarian and spend time in the real world. If he was founding something now he would do something that doesn’t require a token
⁃ Ledger doesn’t want to trade or invest for a living he wants something that he does as a career outside of that
Music by GiovanniPickle