CrowdCent Curation - No. 31

C CrowdCent · Posted 07/28/2022

Post Quality

Finance blockchain technology

CrowdCent Curation - No. 31

C CrowdCent · Posted 07/28/2022

Post Quality

Finance blockchain technology

Hope you’re enjoying the weekend! Check out some of the growing site content & features:

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“Innovation distinguishes between a leader and a follower” Steve Jobs

Translation: Innovation to improve the world is an increasingly useful barometer to gauge leadership in a world of corrupt governments and crony capitalismThose willing to put ‘skin in the game’ to drive this future will likely be the leaders of the next generation


  • The End Game Ep. 14 - Paul Singer [Audio]

    • Recap: A rare interview with Paul Singer, one of the top investors and thinkers in the traditional finance arena. Singer delves into the issues created by Central Banks (asset price inflation, inequality, etc.), and the biggest bubble out there - sovereign bonds (negative yielding bonds around the world). The Fed is now caught between a rock and a hard place, and the next move is likely a regime shift toward real world inflation that people aren't prepared for

    • Comment: We agree with pretty much everything Singer noted, outside of his views on crypto (generally). The best investors think in terms of probabilities and path dependence - Singer highlights his framework in this interview. Check out the books - When Money Dies and The Dying of Money - must reads when thinking about how inflation will play out

    • CC Thoughts: Some quick insights into some of CC’s latest thoughts (tying in to the above)

      • The price of money is being manipulated by Central Banks (notably the Fed)

      • Interest rates control the financial system

      • The biggest bubbles right now are in sovereign bonds, notably US Treasuries and negative yielding bonds around the world

      • Given the financial backdrop in the US (highly levered government), the Fed is caught between a rock and a hard place (essentially can’t raise rates without defaulting + blowing up the system)

      • Expect the following:

        • Fed will make climate change (energy) and inequality geopolitical imperatives 

          • Expect bills / funding for both

        • Semiconductors are the new oilAutonomy is the new space race.

          • Expect supply chain localization for semiconductors (likely US incentives to bring manufacturing back to US)

        • The USD risks losing reserve currency status over the next 5-10 years

          • The Fed / Treasury have merged and are trying to inflate their way out of this

          • Simultaneously China is building up ties around the world (APAC trade deals, Europe trade deals, etc.) where they are pricing things in non-USD

          • Expect this culminates in a “basket currency” approach (similar to the system pre-1971), with a loss of USD dominance


  • What GameStop Says About Decentralized Finance [Article]

    • Recap: Another great letter by Pantera Capital that highlights yet another reason why the future of the financial world is decentralized

    • Comment: Krug provides a useful recap of the Gamestop saga, and highlights how the DeFi system is structurally superior to the current centralized system (that is dominated by 2-3 major players). The centralized system is riddled with conflicts of interest and misaligned incentives, which we saw on display as Robinhood’s true business model (‘auction the ability to front-run their customers to the highest bidder’) was revealed to the public... Now is the time to build the decentralized future


  • Richard Craib: WallStreetBets, Numerai, and the Future of Stock Trading [Audio]

    • Recap: Great conversation between Richard and Lex on the rise of WSB, and the building of Numerai - with the vision to manage all of the world's money. After a useful backdrop/intro, the podcast gets particularly interesting after the ~1 hour mark when the conversation shifts toward staking - something we all view as critical in truly aligning incentives...

    • Comment: We view Numerai as incredibly well positioned to help build a truly democratized and decentralized financial system. And we expect this shift to accelerate as people increasingly realize the current system is flawed (see Gamestop saga above). In addition, check out Jason’s (CrowdCent Co-Founder) chat with Richard (Numerai Founder) about Numerai/Signals here- expect more of these to come

CrowdCent Thoughts & Predictions

  • Check out the thoughts & predictions tracking update here, along with the original post (6/7/2020) - original here… these posts lay out thoughts around key market related components for 2021+

  • Site continues to expand, check out crypto-asset posts here: ETHBTCNMRCRV/UNI/BAL

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Look forward to more updates soon - the future is here...


Jason & Ryan

Website: CrowdCent

Twitter: @CrowdCent

Telegram: Link

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