Doing Something Never Seen Before โข Against all odds, i will prevail โข 7, 8, 9โณ
Trenches๐ฐ
Joined June 2018
- Tweets36.5K
- Following907
- Followers2.6K
- Likes84.9K
Ebenezer (๐ฝ๐พ) retweeted
Day 581 โ๏ธ
Had my biggest hang over today, and ate my dinner cold.
PS: The iPhone 18pro max is harddd
Ebenezer (๐ฝ๐พ) retweeted
bought about 500k of uniswap. it's on fomo.
mostly done buying, kept a little back in case midterms give us a dump
boring pick? maybe, but uni is one of the few things in crypto with an actual product, actual users, and a track record across multiple cycles. the tokenomics were the problem for years and that got fixed last december, fee switch is on and it buys back and burns now. not governance trash anymore
the main thesis is simple
tokenized stocks, rwa, institutions, all of it is moving on chain and i think most of it lands on ethereum. uni benefits from all those flows. many thought this was going to happen in '24, but instead got dumped on relentlessly. what if it happens, but a cycle later?
the secondary thesis is memes. if memes are a big part of this cycle, and i think they eventually will be, robinhood chain routes through uniswap. so the casino side of crypto pays uniswap too. maybe robinhood chain comes back, maybe it doesn't, but a wealth effect from majors brings on chain back at least once and uni catches that flow either way
chart wise, uni/btc has been above the weekly ichi cloud for 2 months. in 2024 it broke above for one week and got smacked right back in. this time it held and it's riding the kijun. there's bear div on the 3d but rsi bounced off 50 and is curling up.
all in all, strong uptrend against btc, which is how i judge alts
let's ride
Ebenezer (๐ฝ๐พ) retweeted
binance got hacked for $6.3B, the biggest hack in crypto history
but i think the market won't dump as hard as it did after bybit hack, here's why ๐
๐น bybit vs binance
bybit had to borrow $ETH from other exchanges to stay 1:1 to cover the gap
binance is going to cover the gap from its own pocket:
- $6.34B set aside
- $5B already in the exact coins that got stolen
- cold storage untouched
๐น this time hacker took stablecoins
tether + circle froze ~$2.6B almost instantly, ~$3B frozen total so far
he panicked trying to swap USDT into ETH before the freeze and paid up to 38% above market, lost ~$119M on bad swaps alone
๐ธ coins that might benefit here from this
the hacker already dumped 7 alts for ETH:
$UNI $ENA $PEPE $LINK $AAVE $ONDO $WLD
~$158M sold and only ~$23M of alts left
this is most probably lazarus again
they dump alts first because they're hard to launder in size, while BTC they sit on and sell slowly through OTC desks over months, so no big market dump
to keep users 1:1, binance has to buy every one of them back
for ENA, UNI, PEPE and AAVE that's 7-15% of binance's holdings
the seller is done already but the buyer hasn't finished yet
๐ธ why i think the market won't dump as hard
after bybit, $BTC fell from ~$96K to under $80K and everyone blamed the hack
wrong, it dumped because tariff panic hit the same week
this time:
- no macro shock stacked on top
- ~$1.7B in leverage already flushed
- fear & greed already at 30
- ~$3B frozen, the rest covered
and you can hate @cz_binance or binance all you want but they will never abandon their users
binance annual revenue: 15B+
cz net worth: $100B+
binance custody assets: $140B+
they will make sure to take care of their users like always
nfa
Ebenezer (๐ฝ๐พ) retweeted
Binance would need a couple of months to fill this hole, unless they use other shady tactics to get whole faster.
The hacker has $BTC worth $1.4b and $ETH worth $1b ready to sell. For $BTC, that's more than 3x the $450M that spot ETFs bought all week.
If this is like the Bybit hack, then buying back coins could create meaningful demand. But thereโs a large potential seller on the other side. With that said, I like the $BTC setup enough to take a position.
My thought here is that Binance will 100% recover from this. But after this + October 10, another incident like this gives traders another reason to reconsider how much money they keep on CEXes (which is why we saw a huge spike in the $HYPE price after the hack).
Decentralized exchanges for the win.
Ebenezer (๐ฝ๐พ) retweeted
Quite a decent call 1 year ago
If I had $1M in crypto now, I would:
1. Be full-time crypto
2. Move to a city where cost of living is not too expensive
3. No memecoins, no leverage. Ever.
4. Allocate $500k stablecoins in DeFi at 5-7% to cover my expenses that I NEVER touch
5. Allocate $250k to farm @tradexyz: volume is still low and upside looks big to me as on-chain tradfi is just emerging
6. Allocate $50k into a sybil farm with 200-500 wallets and forcing myself to spend 2h/day doing things + automating + hunting new opportunities
7. Keep 200k USDC/USDT on Aave ready to ape good coins such as $HYPE or $PUMP during bloody days when people are being liquidated
The goal: survive long enough to catch asymmetric bets while never worrying about paying bills.
Ebenezer (๐ฝ๐พ) retweeted
In 2024, I scribbled down a list of things I needed to hold myself accountable for if I ever wanted to make โฆ100M in a year.
I used to write A LOT. Donโt blame me. Lol.
Whenever I wanted to achieve something, the first thing Iโd do was write it down.
Fast forward to today, that same boy who used to dream of making โฆ100M in a full Year now has months where he makes that much and has sometimes made 3X that in less than a year on just ONE account.
And you know whatโs funny?
Only ONE thing really changed between everything I wrote down in 2024 and where I am today.
I learned how to trade the forex market.โผ๏ธ
And somehow, somehow, it worked out for me.
Thereโs still so much more to accomplish, so many dreams to chase and so many milestones to reach.
But if I wanted to see my first โฆ1 BILLION across all or most of my naira bank accounts, Iโd still focus on doing just ONE thing.
KEEP TRADING.
Because trading is one of those rare skills where your earning potential isnโt limited by a fixed salary. The better you become, the greater the opportunities you can position yourself for.
And thatโs something Iโll never take for granted.
Trading changed my life in ways I couldnโt have imagined when I first started.
And I genuinely believe it can change yours too.
Iโm rooting for you.
LOCK IN. ๐
Ebenezer (๐ฝ๐พ) retweeted
Just realized the irks of a big back now.
Had a nasty itch and spent about 10mins trying to get it until I decided to use the wall ๐ญ๐คง
Ebenezer (๐ฝ๐พ) retweeted
Some of you need a moving average on your equity curve where you simple call it quits below and withdraw for a year. This is painful.
Seriously though, you need to be setting daily, weekly, monthly, and yearly loss limits.
Your risk per trade should be modeled around the capital you are willing to lose per year. Giving back this much is unacceptable.
Ebenezer (๐ฝ๐พ) retweeted
Discretionary traders always talk about "gut feeling" or "ball tingle"
And the quantitative guys all laugh
But instinct and intuition are simply a byproduct of thousands of hours of chart time
And the development of an almost subconscious understanding of how price moves
Ebenezer (๐ฝ๐พ) retweeted
Once you sustain $3-5m net worth, you are successful. You have what you used to think was F-you money, but nowhere near F-everyone money. The gap between those two is the whole game and you're going to need to make good, compounding decisions to bridge it. Hereโs what actually changes at this tier, and how to get to $10m ๐
-Successful, but not retirement money. A 3% draw on $4m is $120k/yr pre-tax. Comfortable in Ohio, tight in Manhattan. You can quit a bad job. You probably canโt quit working especially if you want kids in private schools.
-Your income is still your biggest asset. A $300k salary is a $10m portfolio at a 3% draw. Donโt sell it cheap just because you "hit your number" you picked back when things cost half as much as they do now. The world changes fast.
-At this level you can afford optionality: risk capacity exists, but stay careful. Focus on things where you can capture upside (and not that 10 leg parlay). A side hustle you own and/or angel checks of $10-25k, not $250k. A zero should sting, not reset you.
-Donโt borrow against it. Margin is how $4m becomes $1.5m in a bad quarter. The only good debt at this tier is the 3% mortgage you locked in 2021. At 7+% it's an anchor. Rent > own here.
-Fire your advisor. 1% AUM on $4m is $40k/yr, ~52 shares of $SPY every year for a portfolio you could hold yourself. Paying this much for a babysitter with no alpha is not worth it.
-Avoid the $4m trap: you feel rich, spend rich, and stay at $4m forever. Lifestyle creep kills more 7figs than bear markets. Make coffee at home. Home cooked meals. Use your credit card points for cashback to add to your portfolio and fly coach instead.
-Structures: max everything boring. 401k, backdoor Roth, HSA, mega backdoor if your plan allows, QSBS if youโre early somewhere. Will + revocable trust. Thatโs the whole estate plan.
-Claude Max is 0.06% of your net worth. Still a rounding error. Still no excuse.
How to get to the next tier: ๐
Once you sustain $5-10m net worth, you've made it. Almost. Rich enough to be comfortable, poor enough for one bad bet to send you back. Here's what actually changes at this tier, and how to get to $25m ๐
-Self-funding, barely. A 3% draw on $7.5m is $225k/yr pre-tax, ~$150k after. You can quit but probably shouldn't. Earned income is still the cheapest capital you'll ever get plus itโs more reliable.โจ-Risk capacity is real but finite. A venture bet going to zero is a bad year. Size so the worst case costs you a year or two, not a tier demotion.โจ-Borrow, carefully. SBLOCs work here, just at worse spreads than the private bank crowd gets. Keep LTV under 20% so a drawdown doesnโt become a margin call.โจ-Skip the fancy structures. Estate exemption is $15m per person. You don't have an estate tax problem, you have an income tax problem. QSBS, solo 401k, tax-loss harvesting, no state tax residency or Puerto Rico if extreme/mobile. Boring, cheap, compounding.โจ-Claude Max is 0.03% of your net worth. Fading the singularity at this tier is a choice.
How to get to the next tier: ๐
Ebenezer (๐ฝ๐พ) retweeted
1. tcl p8l: if you just want a good 4k tv for everyday watching without spending too much.
2. hisense u7 series : if you want better brightness, contrast and gaming features without paying oled prices.
Ebenezer (๐ฝ๐พ) retweeted
update:
people who were calling for black monday and waiting for $75k are now praying $BTC goes back to $80k so they can buy something
ideal scenario: hold 83k, keep the push to 87k and aim higher
god willing
people who were calling for the biggest bull run ever until last week are now going to start calling for a bear market
i have been warning about this flush (especially on Telegram)
follow people who make you fomo at bottoms, not at tops
god willing $BTC follows the plan
Ebenezer (๐ฝ๐พ) retweeted
Interesting! An Alameda Research wallet withdrew $200k from @dYdX v3 today: etherscan.io/tx/0xde9ce85556โฆ
It deposited $200k on Oct 3, 2021, did not trade or do anything and withdrew it all today.
WHO IS CONTROLLING THIS WALLET?
