Citadel Meeting Notes and Coinbase
Organization and Coinbase Overview: Level 1 Info
LEVEL 1 Info - NGMI
Welcome Avatar. The first ever Citadel meeting was completed. With the following results…
Free Post: Once a week every Monday.
Paid Posts: Wednesday and Sunday.
Q&A/Portfolio Update: Once a month performance review + Q&A in one Post (end of month).
Bonus Posts: We will also write randomly in excess of this.
Vacation/Time Off: If we need a week off, we will manually shut off all payments (you will not be charged for a week that is taken off).
Final Note: We will not have a consistent time of day that we will post. This is not fair to people in Asia/Australia/USA etc. We will randomly post on that particular day. The general framework is that everyone gets equal opportunity not equal results. So everyone gets the content at the same time at a random time that day. This is the only fair way to do it (in our opinion). If you are rich, poor, in a different time zone etc. We will give you the same opportunity by making the posts random on that particular day.
Coinbase IPO: Coinbase is a centralized exchange where people who do not understand crypto attempt to trade the currency. Having your coins on an exchange means that you do not own the private keys. Not your keys, not your coins. Nonetheless, the Boomers love this stuff (big chunk of the Clown Army).
We cannot recommend ever buying the stock. Centralized exchanges operate just like banks… but worse… they can lose everything faster. Take a look at the following image so we can explain better.
Source Wall Street Journal Twitter.
Coinbase has tons of BTC on their exchange. And. What happens when people take their bitcoins off the exchange? The firm doesn’t have a business anymore! Coinbase isn’t a leader in anything except onboarding fiat currency (primarily US dollars). With decentralized exchanges continuing to grow (Uniswap, Sushiswap etc.), there is no need to trust a centralized exchange to hold your money anymore. Over the long-term, there will be no need for central authorities to hold your valuable crypto currencies.
Playing Dumb: When people ask you about this stock, simply go with the tired old saying we’ve had for years “Smile, nod and agree”. What does this mean? If someone believes that $COIN is a great investment… You’re not going to change their mind. What they are really saying is that they value US Token more than they value crypto (NGMI). The below meme will help explain what we mean.
The guy on the left has a need to flex. This ends up being a disaster as he’s painting a target on his back for the future. The guy on the right completely understands crypto. He gives the public guy a lot of attention and makes him feel “like the man” (owning $COIN stock is a decoy).
By playing dumb he is protecting his prized possession… FREEDOM! When you are rich and famous you cannot live life without fear of being kidnapped (particularly in 2035). When you are rich and an anonymous cartoon character you can have as much fun as you like whenever you like.
Citadel Overview: Fren. We have an update for you regarding the Citadel. Many believe that the Citadel is a large castle with thick brick walls. While there are some locations that fit this description, the prior meme is actually a more accurate description of the first ever Citadel (constructed on February 2, 2022). Here is a good example of what is going on outside of the first Citadel.
Don’t be alarmed by the aggressiveness of the outside. It is a lot of bait. The inside is quite posh and even has a ball room. The young Degens enjoy being outside and partying with the wild life. They are also in charge of taking out any clowns that are found on the premises (first line of defense for the financial elite). A cartoon depiction of the first ever citadel is drawn out below. It cost ~10 ETH or $203,864,237,046 US Token in 2021 terms to send this accurate photo back in time (from 2035).
While you may be laughing at this point… Be careful… The decentralized army we’re building out already has a theme… We’re a cartoon bull… Our Chief Troll Officer is a Koala… Our XXXX Officer is a Bunny …. Our XXX Advisor is a Giraffe…. Few. 2035. Or eat grasshoppers as a Clown. (Below is a Clown Grasshopper in the physical realm).
Even though I dont exactly like centralized exchange, you still need them to buy your first coin and transfer to your own wallet right? There still needs a gateway from decentralized to centralized world because we still can't buy stuff with crypto, at least not (mature enough) yet in a purely decentralized fashion. I think of Coinbase as a necessary stage to go through to gain massive adoption. You can't just go fully decentralized in one shot. It takes time.
Love the graphics. Do not draw unnecessary attention to yourself. Best to live "modestly" going forward. Rural area better and Starlink solves the internet issue. Few.