SBF

SBF @SBF_FTX

check out https://t.co/lhvtPcKSmU fwiw thinking of other ways to display on non-TWAP specific pages https://t.co/9wu2QZvPtV — PolitiTweet.org

SBF @SBF_FTX

RT @shakiXBT: Trying out TWAP orders on FTX, looks pretty smooth for now I really like that they let you randomize size and put max spread… — PolitiTweet.org

SBF @SBF_FTX

RT @_Ryne_Miller: This past week marked my first full year at FTX — what a ride! Really enjoying the opportunity to work on markets and in… — PolitiTweet.org

SBF @SBF_FTX

RT @KyleSamani: Wooooo I got some stocks on @FTX_Official https://t.co/qCeSOG2WBh — PolitiTweet.org

SBF @SBF_FTX

@greg16676935420 <3 — PolitiTweet.org

SBF @SBF_FTX

@dougboneparth man I suck — PolitiTweet.org

SBF @SBF_FTX

40) So let’s go build. — PolitiTweet.org

SBF @SBF_FTX

39) (iv) Network effects. Many of these use cases don’t work unless two people both use crypto: buyer/seller; sen… https://t.co/M2yzLDXqez — PolitiTweet.org

SBF @SBF_FTX

38) (iii) Great products. Builders have to focus on building great products, not on monetization as the core product. — PolitiTweet.org

SBF @SBF_FTX

37) (ii) Regulation. There needs to be regulatory clarity in order to get mass adoption, and the major platforms… https://t.co/9ql9RS8xgi — PolitiTweet.org

SBF @SBF_FTX

36) (i) Technology. Right now the fastest chains can handle 5-50k TPS. We probably need to scale that up to ~1m… https://t.co/OfSbx5m416 — PolitiTweet.org

SBF @SBF_FTX

35) But taking a step back: how many of these areas has crypto revolutionized so far? I think the answer is “not r… https://t.co/l7oaNtS4i9 — PolitiTweet.org

SBF @SBF_FTX

34) I could see blockchain having a large impact on payments, remittances, market structure, and social media. And… https://t.co/evVXVypLFc — PolitiTweet.org

SBF @SBF_FTX

33) New platforms can read/write from the chain, inheriting the network effects, allowing real competition. And ea… https://t.co/Wm7kkcIXvv — PolitiTweet.org

SBF @SBF_FTX

32) By using an underlying public chain for messages, we’ve made different networks compatible. You can use any pl… https://t.co/pzaSgGuUpV — PolitiTweet.org

SBF @SBF_FTX

31) Let’s say that, instead, we put messages on a blockchain. So if you used Blockchain-Twitter (BT): --You type… https://t.co/63FS0NnPca — PolitiTweet.org

SBF @SBF_FTX

30) The largest networks have pseudo-monopolies, with gigantic network effects that prevent new competitors. And h… https://t.co/hu4KWNQxoJ — PolitiTweet.org

SBF @SBF_FTX

29) This means that everyone has to manage 10 different apps, and our networks and conversations are fractured. In… https://t.co/51HPV3nGJQ — PolitiTweet.org

SBF @SBF_FTX

28) So how about social media? Right now, if you tweet something, and your friend pulls out Facebook, they can’t s… https://t.co/h4i3aJIqSX — PolitiTweet.org

SBF @SBF_FTX

27) So blockchain can create simpler, more equitable, and less risky market structure and settlement. It can help… https://t.co/zvSFUf16Or — PolitiTweet.org

SBF @SBF_FTX

26) Say you tokenize stocks. Instead of waiting 2 days to settle, you can just swap AAPL-token <> USD-token on a b… https://t.co/K2pvejxaBK — PolitiTweet.org

SBF @SBF_FTX

25) On FTX, everyone can send orders straight to the exchange; in equities, only the wealthiest traders can. Which… https://t.co/jEZI96cijt — PolitiTweet.org

SBF @SBF_FTX

24) And eventually that risk got too big for the brokers, which had to partially shut down. How does crypto help t… https://t.co/hhzvTZaVse — PolitiTweet.org

SBF @SBF_FTX

23) And on January 28th 2021, there was a lot of retail trading volume. Which meant tens (hundreds?) of billions o… https://t.co/MSOUSHg2Nj — PolitiTweet.org

SBF @SBF_FTX

22) Meanwhile, the dollars used to purchase the stock flow through banks. So in order for your friend to buy one s… https://t.co/z98R6fpU23 — PolitiTweet.org

SBF @SBF_FTX

21) And then, two days later (!!!), comes settlement time. The share of AAPL is settled through the DTCC via somet… https://t.co/rHH48oeYfY — PolitiTweet.org

SBF @SBF_FTX

20) The dollars they send in are routed to the broker's bank account. Their order is in turn routed to a PFOF firm… https://t.co/z6T9pWbGxx — PolitiTweet.org

SBF @SBF_FTX

19) Instead, the system broke down because of settlement risk. See, when the typical retail trader tries to buy a… https://t.co/6ExsVA8AUp — PolitiTweet.org

SBF @SBF_FTX

18) This was, of course, the day that Gamestop, AMC, and other memestocks skyrocketed. Why were users shut off? I… https://t.co/njnZEfNl2k — PolitiTweet.org

SBF @SBF_FTX

17) Ok, so how about market structure? On January 28th 2021, most major retail brokers shut down. Users were unab… https://t.co/s2VfJGtmY5 — PolitiTweet.org