11 signs $ETH is going to blow past its all-time high 👇🏼

Let me indulge in a story...

Once upon a time there was a genius called Satoshi, this anonymous character laid down a block, it was called the Genius Block, but we we spell it wrong to this day.

Then along came your standard noob who believed in freedom, we know this because he went by the name NewLibertyStandard.

He created a site to buy and sell Bitcoins.

On his site, he priced Bitcoin on electricity.

The price went up, the price went down.

Then one day, he changed the pricing system.

BTC was no longer priced at the cost of mining.

He priced it by DEMAND and SUPPLY.

Geeks and legendary futurists, bought and sold the rarest commodity on the Internet for pennies.

Price teleported upwards.

Then came a Magic The Gathering gamer. He smashed together a shaky piece of software called Magic The Gathering Exchange.

It became the first widely used BTC exchange.

The whole world sent this kid money to buy BTC.

A new market had unlocked. Price teleported.

Let's fast forward 6 glorious years of price teleportation events.

Many of the story details remain unknown to me, though I see their impact on the blockchain.

But let me bring you to the year 2017 and save you lots of reading...

1 - Over the years I've learnt a lot of new things that I wish I knew when I first started so I want to make this thread for all the new traders out there who wants to turn their trading into a profitable career 🔥

Will be adding to this thread over time.

17 - Because trading is a game of numbers and probabilities, whenever you see a setup that fits your trading rules and aligns with your edge, you NEED to take the opportunity!

Don't pick and choose, just religiously follow your plan and rules!

We're in the phase of the market where there's a lot of retail inbounds but not enough education about the Ethereum ecosystem and DeFi.

So, let's break down the basics of some of the top protocols.

First on deck: Aave (@AaveAave), an Ethereum-based money market protocol.

A 🧵

TL;DR: Aave is a protocol through which any user anywhere in the world can take decentralized loans by collateralizing their assets.

Aave also allows those will idle assets to earn a relatively safe return on capital from lenders, whose rates are determined by a curve.

1/ For years, most crypto assets had no indirect or direct utility.

Users would hold BTC, ETH, and other assets (including many ERC-20 tokens) with no expectation of a native yield or dividends.

ETH, for instance, was long just an asset for transaction fees, as was Bitcoin.

2/ If users wanted to borrow against their assets, they were relegated to centralized platforms—which were few and far between years ago.

3/ Aave, formerly ETHLend, is a protocol allowing users the ability to lend and borrow on-chain, without KYC and untransparent fees.

Users can deposit a variety of assets as collateral, then use that collateral as ammo to borrow other assets to be used in DeFi or beyond.

On the importance of leverage for the crypto ecosystem.
A long time ago, BNP Paribas bought a retail forex exchange, because they thought they'd get an insight into forex trading flows and positions. What they quickly discovered, is that the website was a muppet slaughterhouse.

People would get stopped out ALL THE TIME because they used too much leverage. Over 90% of them lost money in a consistent way. Those are worse than even casino odds.
That's why around 2005, you had so many forex trading websites popping up. They would offer up to 500x leverage.

The higher the leverage, the better (for the website).
This became such a huge trend that regulators stepped in, and introduced maximum leverage rules. Something like x30 for forex, if I remember correctly. All of a sudden, all the ads and Premier League sponsorships vanished.

Forex gambling is still around, but not nearly as profitable, because it takes time for people to lose their money with a pitiful x30 leverage. Currencies usually don't move by 3% in a day. It can take weeks for an amateur trader to lose it all. Plus the adrenaline rush is gone.

Enter crypto.
It's hard to explain how one-sided leveraged crypto trading is. Traders don't stand a chance. With currencies, you could expect to extract SOME money from real world flows. In crypto, there are no real world flows. It's just traders against traders against insiders.