A Guide to VeeFriends and Series 2
VeeFriends is one of the most popular and unique NFT collections. VeeFriends launched around the same time as other PFP NFTs like Bored Ape Yacht Club.
Vaynerchuk (GaryVee) took a unique approach to his large-scale project, which has influenced the NFT ecosystem. GaryVee's VeeFriends is one of the most successful NFT membership use-cases, allowing him to build a community around his creative and business passions.
What is VeeFriends?
GaryVee's NFT collection, VeeFriends, was released on May 11, 2021. VeeFriends [Mini Drops], Book Games, and a forthcoming large-scale "Series 2" collection all stem from the initial drop of 10,255 tokens.
In "Series 1," there are G.O.O. tokens (Gary Originally Owned). GaryVee reserved 1,242 NFTs (over 12% of the supply) for his own collection, so only 9,013 were available at the Series 1 launch.
Each Series 1 token represents one of 268 human traits hand-drawn by Vaynerchuk. Gary Vee's NFTs offer owners incentives.
Who made VeeFriends?
Gary Vaynerchuk, AKA GaryVee, is influential in NFT. Vaynerchuk is the chairman of New York-based communications company VaynerX. Gary Vee, CEO of VaynerMedia, VaynerSports, and bestselling author, is worth $200 million.
GaryVee went from NFT collector to creator, launching VaynerNFT to help celebrities and brands.
Vaynerchuk's influence spans the NFT ecosystem as one of its most prolific voices. He's one of the most influential NFT figures, and his VeeFriends ecosystem keeps growing.
Vaynerchuk, a trend expert, thinks NFTs will be around for the rest of his life and VeeFriends will be a landmark project.
Why use VeeFriends NFTs?
The first VeeFriends collection has sold nearly $160 million via OpenSea. GaryVee insisted that the first 10,255 VeeFriends were just the beginning.
Book Games were announced to the VeeFriends community in August 2021. Mini Drops joined VeeFriends two months later.
Book Games
GaryVee's book "Twelve and a Half: Leveraging the Emotional Ingredients for Business Success" inspired Book Games. Even prior to the announcement Vaynerchuk had mapped out the utility of the book on an NFT scale. Book Games tied his book to the VeeFriends ecosystem and solidified its place in the collection.
GaryVee says Book Games is a layer 2 NFT project with 125,000 burnable tokens. Vaynerchuk's NFT fans were incentivized to buy as many copies of his new book as possible to receive NFT rewards later.
First, a bit about “layer 2.”
Layer 2 blockchain solutions help scale applications by routing transactions away from Ethereum Mainnet (layer 1). These solutions benefit from Mainnet's decentralized security model but increase transaction speed and reduce gas fees.
Polygon (integrated into OpenSea) and Immutable X are popular Ethereum layer 2 solutions. GaryVee chose Immutable X to reduce gas costs (transaction fees). Given the large supply of Book Games tokens, this decision will likely benefit the VeeFriends community, especially if the games run forever.
What's the strategy?
The VeeFriends patriarch announced on Aug. 27, 2021, that for every 12 books ordered during the Book Games promotion, customers would receive one NFT via airdrop. After nearly 100 days, GV sold over a million copies and announced that Book Games would go gamified on Jan. 10, 2022.
Immutable X's trading options make Book Games a "game." Book Games players can trade NFTs for other NFTs, sports cards, VeeCon tickets, and other prizes. Book Games can also whitelist other VeeFirends projects, which we'll cover in Series 2.
VeeFriends Mini Drops
GaryVee launched VeeFriends Mini Drops two months after Book Games, focusing on collaboration, scarcity, and the characters' "cultural longevity."
Spooky Vees, a collection of 31 1/1 Halloween-themed VeeFriends, was released on Halloween. First-come, first-served VeeFriend owners could claim these NFTs.
Mini Drops includes Gift Goat NFTs. By holding the Gift Goat VeeFriends character, collectors will receive 18 exclusive gifts curated by GaryVee and the team. Each gifting experience includes one physical gift and one NFT out of 555, to match the 555 Gift Goat tokens.
Gift Goat holders have gotten NFTs from Danny Cole (Creature World), Isaac "Drift" Wright (Where My Vans Go), Pop Wonder, and more.
GaryVee is poised to release the largest expansion of the VeeFriends and VaynerNFT ecosystem to date with VeeFriends Series 2.
VeeCon 101
By owning VeeFriends NFTs, collectors can join the VeeFriends community and attend VeeCon in 2022. The conference is only open to VeeCon NFT ticket holders (VeeFreinds + possibly more TBA) and will feature Beeple, Steve Aoki, and even Snoop Dogg.
The VeeFreinds floor in 2022 Q1 has remained at 16 ETH ($52,000), making VeeCon unattainable for most NFT enthusiasts. Why would someone spend that much crypto on a Minneapolis "superconference" ticket? Because of Gary Vaynerchuk.
Everything to know about VeeFriends Series 2
Vaynerchuk revealed in April 2022 that the VeeFriends ecosystem will grow by 55,555 NFTs after months of teasing.
With VeeFriends Series 2, each token will cost $995 USD in ETH, allowing NFT enthusiasts to join at a lower cost. The new series will be released on multiple dates in April.
Book Games NFT holders on the Friends List (whitelist) can mint Series 2 NFTs on April 12. Book Games holders have 32,000 NFTs.
VeeFriends Series 1 NFT holders can claim Series 2 NFTs on April 12. This allotment's supply is 10,255, like Series 1's.
On April 25, the public can buy 10,000 Series 2 NFTs. Unminted Friends List NFTs will be sold on this date, so this number may change.
The VeeFriends ecosystem will add 15 new characters (220 tokens each) on April 27. One character will be released per day for 15 days, and the only way to get one is to enter a daily raffle with Book Games tokens.
Series 2 NFTs won't give owners VeeCon access, but they will offer other benefits within the VaynerNFT ecosystem. Book Games and Series 2 will get new token burn mechanics in the upcoming drop.
Visit the VeeFriends blog for the latest collection info.
Where can you buy Gary Vee’s NFTs?
Need a VeeFriend NFT? Gary Vee recommends doing "50 hours of homework" before buying. OpenSea sells VeeFriends NFTs.
More on NFTs & Art
Sea Launch
3 years ago
📖 Guide to NFT terms: an NFT glossary.
NFT lingo can be overwhelming. As the NFT market matures and expands so does its own jargon, slang, colloquialisms or acronyms.
This ever-growing NFT glossary goal is to unpack key NFT terms to help you better understand the NFT market or at least not feel like a total n00b in a conversation about NFTs on Reddit, Discord or Twitter.
#
1:1 Art
Art where each piece is one of a kind (1 of 1). Unlike 10K projects, PFP or Generative Art collections have a cap of NFTs released that can range from a few hundreds to 10K.
1/1 of X
Contrary to 1:1 Art, 1/1 of X means each NFT is unique, but part of a large and cohesive collection. E.g: Fidenzas by Tyler Hobbs or Crypto Punks (each Punk is 1/1 of 10,000).
10K Project
A type of NFT collection that consists of approximately 10,000 NFTs (but not strictly).
A
AB
ArtBlocks, the most important platform for generative art currently.
AFAIK
As Far As I Know.
Airdrop
Distribution of an NFT token directly into a crypto wallet for free. Can be used as a marketing campaign or as scam by airdropping fake tokens to empty someone’s wallet.
Alpha
The first or very primitive release of a project. Or Investment term to track how a certain investment outdoes the market. E.g: Alpha of 1.0 = 1% improvement or Alpha of 20.0 = 20% improvement.
Altcoin
Any other crypto that is not Bitcoin. Bitcoin Maximalists can also refer to them as shitcoins.
AMA
Ask Me Anything. NFT creators or artists do sessions where anyone can ask questions about the NFT project, team, vision, etc. Usually hosted on Discord, but also on Reddit or even Youtube.
Ape
Someone can be aping, ape in or aped on an NFT meaning someone is taking a large position relative to its own portfolio size. Some argue that when someone apes can mean that they're following the hype, out of FOMO or without due diligence. Not related directly to the Bored Ape Yatch Club.
ATH
All-Time High. When a NFT project or token reaches the highest price to date.
Avatar project
An NFT collection that consists of avatars that people can use as their profile picture (see PFP) in social media to show they are part of an NFT community like Crypto Punks.
Axie Infinity
ETH blockchain-based game where players battle and trade Axies (digital pets). The main ERC-20 tokens used are Axie Infinity Shards (AXS) and Smooth Love Potions (formerly Small Love Potion) (SLP).
Axie Infinity Shards
AXS is an Eth token that powers the Axie Infinity game.
B
Bag Holder
Someone who holds its position in a crypto or keeps an NFT until it's worthless.
BAYC
Bored Ape Yacht Club. A very successful PFP 1/1 of 10,000 individual ape characters collection. People use BAYC as a Twitter profile picture to brag about being part of this NFT community.
Bearish
Borrowed finance slang meaning someone is doubtful about the current market and that it will crash.
Bear Market
When the Crypto or NFT market is going down in value.
Bitcoin (BTC)
First and original cryptocurrency as outlined in a whitepaper by the anonymous creator(s) Satoshi Nakamoto.
Bitcoin Maximalist
Believer that Bitcoin is the only cryptocurrency needed. All other cryptocurrencies are altcoins or shitcoins.
Blockchain
Distributed, decentralized, immutable database that is the basis of trust in Web 3.0 technology.
Bluechip
When an NFT project has a long track record of success and its value is sustained over time, therefore considered a solid investment.
BTD
Buy The Dip. A bear market can be an opportunity for crypto investors to buy a crypto or NFT at a lower price.
Bullish
Borrowed finance slang meaning someone is optimistic that a market will increase in value aka moon.
Bull market
When the Crypto or NFT market is going up and up in value.
Burn
Common crypto strategy to destroy or delete tokens from the circulation supply intentionally and permanently in order to limit supply and increase the value.
Buying on secondary
Whenever you don’t mint an NFT directly from the project, you can always buy it in secondary NFT marketplaces like OpenSea. Most NFT sales are secondary market sales.
C
Cappin or Capping
Slang for lying or faking. Opposed to no cap which means “no lie”.
Coinbase
Nasdaq listed US cryptocurrency exchange. Coinbase Wallet is one of Coinbase’s products where users can use a Chrome extension or app hot wallet to store crypto and NFTs.
Cold wallet
Otherwise called hardware wallet or cold storage. It’s a physical device to store your cryptocurrencies and/or NFTs offline. They are not connected to the Internet so are at less risk of being compromised.
Collection
A set of NFTs under a common theme as part of a NFT drop or an auction sale in marketplaces like OpenSea or Rarible.
Collectible
A collectible is an NFT that is a part of a wider NFT collection, usually part of a 10k project, PFP project or NFT Game.
Collector
Someone who buys NFTs to build an NFT collection, be part of a NFT community or for speculative purposes to make a profit.
Cope
The opposite of FOMO. When someone doesn’t buy an NFT because one is still dealing with a previous mistake of not FOMOing at a fraction of the price. So choosing to stay out.
Consensus mechanism
Method of authenticating and validating a transaction on a blockchain without the need to trust or rely on a central authority. Examples of consensus mechanisms are Proof of Work (PoW) or Proof of Stake (PoS).
Cozomo de’ Medici
Twitter alias used by Snoop Dogg for crypto and NFT chat.
Creator
An NFT creator is a person that creates the asset for the NFT idea, vision and in many cases the art (e.g. a jpeg, audio file, video file).
Crowsale
Where a crowdsale is the sale of a token that will be used in the business, an Initial Coin Offering (ICO) is the sale of a token that’s linked to the value of the business. Buying an ICO token is akin to buying stock in the company because it entitles you a share of the earnings and profits. Also, some tokens give you voting rights similar to holding stock in the business. The US Securities and Exchange Commission recently ruled that ICOs, but not crowdselling, will be treated as the sale of a security. This basically means that all ICOs must be registered like IPOs and offered only to accredited investors. This dramatically increases the costs and limits the pool of potential buyers.
Crypto Bags/Bags
Refers to how much cryptocurrencies someone holds, as in their bag of coins.
Cryptocurrency
The native coin of a blockchain (or protocol coin), secured by cryptography to be exchanged within a Peer 2 Peer economic system. E.g: Bitcoin (BTC) for the Bitcoin blockchain, Ether (ETH) for the Ethereum blockchain, etc.
Crypto community
The community of a specific crypto or NFT project. NFT communities use Twitter and Discord as their primary social media to hang out.
Crypto exchange
Where someone can buy, sell or trade cryptocurrencies and tokens.
Cryptography
The foundation of blockchain technology. The use of mathematical theory and computer science to encrypt or decrypt information.
CryptoKitties
One of the first and most popular NFT based blockchain games. In 2017, the NFT project almost broke the Ethereum blockchain and increased the gas prices dramatically.
CryptoPunk
Currently one of the most valuable blue chip NFT projects. It was created by Larva Labs. Crypto Punk holders flex their NFT as their profile picture on Twitter.
CT
Crypto Twitter, the crypto-community on Twitter.
Cypherpunks
Movement in the 1980s, advocating for the use of strong cryptography and privacy-enhancing technologies as a route to social and political change. The movement contributed and shaped blockchain tech as we know today.
D
DAO
Stands for Decentralized Autonomous Organization. When a NFT project is structured like a DAO, it grants all the NFT holders voting rights, control over future actions and the NFT’s project direction and vision. Many NFT projects are also organized as DAO to be a community-driven project.
Dapp
Mobile or web based decentralized application that interacts on a blockchain via smart contracts. E.g: Dapp is the frontend and the smart contract is the backend.
DCA
Acronym for Dollar Cost Averaging. An investment strategy to reduce the impact of crypto market volatility. E.g: buying into a crypto asset on a regular monthly basis rather than a big one time purchase.
Ded
Abbreviation for dead like "I sold my Punk for 90 ETH. I am ded."
DeFi
Short for Decentralized Finance. Blockchain alternative for traditional finance, where intermediaries like banks or brokerages are replaced by smart contracts to offer financial services like trading, lending, earning interest, insure, etc.
Degen
Short for degenerate, a gambler who buys into unaudited or unknown NFT or DeFi projects, without proper research hoping to chase high profits.
Delist
No longer offer an NFT for sale on a secondary market like Opensea. NFT Marketplaces can delist an NFT that infringes their rules. Or NFT owners can choose to delist their NFTs (has long as they have sufficient funds for the gas fees) due to price surges to avoid their NFT being bought or sold for a higher price.
Derivative
Projects derived from the original project that reinforces the value and importance of the original NFT. E.g: "alternative" punks.
Dev
A skilled professional who can build NFT projects using smart contracts and blockchain technology.
Dex
Decentralised Exchange that allows for peer-to-peer trustless transactions that don’t rely on a centralized authority to take place. E.g: Uniswap, PancakeSwap, dYdX, Curve Finance, SushiSwap, 1inch, etc.
Diamond Hands
Someone who believes and holds a cryptocurrency or NFT regardless of the crypto or NFT market fluctuations.
Discord
Chat app heavily used by crypto and NFT communities for knowledge sharing and shilling.
DLT
Acronym for Distributed Ledger Technology. It’s a protocol that allows the secure functioning of a decentralized database, through cryptography. This technological infrastructure scraps the need for a central authority to keep in check manipulation or exploitation of the network.
Dog coin
It’s a memecoin based on the Japanese dog breed, Shiba Inu, first popularised by Dogecoin. Other notable coins are Shiba Inu or Floki Inu. These dog coins are frequently subjected to pump and dumps and are extremely volatile. The original dog coin DOGE was created as a joke in 2013. Elon Musk is one of Dogecoin's most famous supporters.
Doxxed/Doxed
When the identity of an NFT team member, dev or creator is public, known or verifiable. In the NFT market, when a NFT team is doxed it’s a usually sign of confidence and transparency for NFT collectors to ensure they will not be scammed for an anonymous creator.
Drop
The release of an NFT (single or collection) into the NFT market.
DYOR
Acronym for Do Your Own Research. A common expression used in the crypto or NFT community to disclaim responsibility for the financial/strategy advice someone is providing the community and to avoid being called out by others in theNFT or crypto community.
E
EIP-1559 EIP
Referring to Ethereum Improvement Proposal 1559, commonly known as the London Fork. It’s an upgrade to the Ethereum protocol code to improve the blockchain security and scalability. The major change consists in shifting from a proof-of-work consensus mechanism (PoW) to a low energy and lower gas fees proof-of-stake system (PoS).
ERC-1155
Stands for Ethereum Request for Comment-1155. A multi-token standard that can represent any number of fungible (ERC-20) and non-fungible tokens (ERC-721).
ERC-20
Ethereum Request for Comment-20 is a standard defining a fungible token like a cryptocurrency.
ERC-721
Ethereum Request for Comment-721 is a standard defining a non-fungible token (NFT).
ETH
Aka Ether, the currency symbol for the native cryptocurrency of the Ethereum blockchain.
ETH2.0
Also known as the London Fork or EIP-1559 EIP. It’s an upgrade to the Ethereum network to improve the network’s security and scalability. The most dramatic change is the shift from the proof-of-work consensus mechanism (PoW) to proof-of-stake system (PoS).
Ether
Or ETH, the native cryptocurrency of the Ethereum blockchain.
Ethereum
Network protocol that allows users to create and run smart contracts over a decentralized network.
F
FCFS
Acronym for First Come First Served. Commonly used strategy in a NFT collection drop when the demand surpasses the supply.
Few
Short for "few understand". Similar to the irony behind the "probably nothing" expression. Like X person bought into a popular NFT, because it understands its long term value.
Fiat Currencies or Money
National government-issued currencies like the US Dollar (USD), Euro (EUR) or Great British Pound (GBP) that are not backed by a commodity like silver or gold. FIAT means an authoritative or arbitrary order like a government decree.
Flex
Slang for showing off. In the crypto community, it’s a Lamborghini or a gold Rolex. In the NFT world, it’s a CryptoPunk or BAYC PFP on Twitter.
Flip
Quickly buying and selling crypto or NFTs to make a profit.
Flippening
Colloquial expression coined in 2017 for when Ethereum’s market capitalisation surpasses Bitcoin’s.
Floor Price
It means the lowest asking price for an NFT collection or subset of a collection on a secondary market like OpenSea.
Floor Sweep
Refers when a NFT collector or investor buys all the lowest listed NFTs on a secondary NFT marketplace.
FOMO
Acronym for Fear Of Missing Out. Buying a crypto or NFT out of fear of missing out on the next big thing.
FOMO-in
Buying a crypto or NFT regardless if it's at the top of the market for FOMO.
Fractionalize
Turning one NFT like a Crypto Punk into X number of fractions ERC-20 tokens that prove ownership of that Punk. This allows for i) collective ownership of an NFT, ii) making an expensive NFT affordable for the common NFT collector and iii) adds more liquidity to a very illiquid NFT market.
FR
Abbreviation for For Real?
Fren
Means Friend and what people in the NFT community call each other in an endearing and positive way.
Foundation
An exclusive, by invitation only, NFT marketplace that specializes in NFT art.
Fungible
Means X can be traded for another X and still hold the same value. E.g: My dollars = your dollars. My 1 ether = your 1 ether. My casino chip = your casino chip. On Ethereum, fungible tokens are defined by the ERC-20 standard.
FUD
Acronym for Fear Uncertainty Doubt. It can be a) when someone spreads negative and sometimes false news to discredit a certain crypto or NFT project. Or b) the overall negative feeling regarding the future of the NFT/Crypto project or market, especially when going through a bear market.
Fudder
Someone who has FUD or engages in FUD about a NFT project.
Fudding your own bags
When an NFT collector or crypto investor speaks negatively about an NFT or crypto project he/she has invested in or has a stake in. Usually negative comments about the team or vision.
G
G
Means Gangster. A term of endearment used amongst the NFT Community.
Gas/Gas fees/Gas prices
The fee charged to complete a transaction in a blockchain. These gas prices vary tremendously between the blockchains, the consensus mechanism used to validate transactions or the number of transactions being made at a specific time.
Gas war
When a lot of NFT collectors (or bots) are trying to mint an NFT at once and therefore resulting in gas price surge.
Generative art
Artwork that is algorithmically created by code with unique traits and rarity.
Genesis drop
It refers to the first NFT drop a creator makes on an NFT auction platform.
GG
Interjection for Good Game.
GM
Interjection for Good Morning.
GMI
Acronym for Going to Make It. Opposite of NGMI (NOT Going to Make It).
GOAT
Acronym for Greatest Of All Time.
GTD
Acronym for Going To Dust. When a token or NFT project turns out to be a bad investment.
GTFO
Get The F*ck Out, as in “gtfo with that fud dude” if someone is talking bull.
GWEI
One billionth of an Ether (ETH) also known as a Shannon / Nanoether / Nano — unit of account used to price Ethereum gas transactions.
H
HEN (Hic Et Nunc)
A popular NFT art marketplace for art built on the Tezos blockchain. Big NFT marketplace for inexpensive NFTs but not a very user-friendly UI/website.
HODL
Misspelling of HOLD coined in an old Reddit post. Synonym with “Hold On for Dear Life” meaning hold your coin or NFT until the end, whether that they’ll moon or dust.
Hot wallet
Wallets connected to the Internet, less secure than cold wallet because they’re more susceptible to hacks.
Hype
Term used to show excitement or anticipation about an upcoming crypto project or NFT.
I
ICO
Acronym for Initial Coin Offering. It’s the crypto equivalent to a stocks’ IPO (Initial Public Offering) but with far less scrutiny or regulation (leading to a lot of scams). ICO’s are a popular way for crypto projects to raise funds.
IDO
Acronym for Initial Dex Offering. To put it simply it means to launch NFTs or tokens via a decentralized liquidity exchange. It’s a common fundraising method used by upcoming crypto or NFT projects. Many consider IDOs a far better fundraising alternative to ICOs.
IDK
Acronym for I Don’t Know.
IDEK
Acronym for I Don’t Even Know.
Imma
Short for I’m going to be.
IRL
Acronym for In Real Life. Refers to the physical world outside of the online/virtual world of crypto, NFTs, gaming or social media.
IPFS
Acronym for Interplanetary File System. A peer-to-peer file storage system using hashes to recall and preserve the integrity of the file, commonly used to store NFTs outside of the blockchain.
It’s Money Laundering
Someone can use this expression to suggest that NFT prices aren’t real and that actually people are using NFTs to launder money, without providing much proof or explanation on how it works.
IYKYK
Stands for If You Know, You Know This. Similar to the expression "few", used when someone buys into a popular crypto or NFT project, slightly because of FOMO but also because it believes in its long term value.
J
JPEG/JPG
File format typically used to encode NFT art. Some people also use Jpeg to mock people buying NFTs as in “All that money for a jpeg”.
K
KMS
Short for Kill MySelf.
L
Larva Labs/ LL
NFT Creators behind the popular NFT projects like Cryptopunks,Meebits or Autoglyphs.
Laser eyes
Bitcoin meme signalling support for BTC and/or it will break the $100k per coin valuation.
LFG
Acronym for Let’s F*cking Go! A common rallying call used in the crypto or NFT community to lead people into buying an NFT or a crypto.
Liquidity
Term that means that a token or NFT has a high volume activity in the crypto/NFT market. It’s easily sold and resold. But usually the NFT market it’s illiquid when compared to the general crypto market, due to the non-fungibility nature of an NFT (there are less buyers for every NFTs out there).
LMFAO
Stands for Laughing My F*cking Ass Off.
Looks Rare
Ironic expression commonly used in the NFT Community. Rarity is a driver of an NFT’s value.
London Hard Fork
Known as EIP-1559, was an Ethereum code upgrade proposal designed to improve the blockchain security and scalability. It’s major change is to shift from PoW to PoS consensus mechanism.
Long run
Means someone is committed to the NFT market or an NFT project in the long term.
M
Maximalist
Typically refers to Bitcoin Maximalists. People who only believe that Bitcoin is the most secure and resilient blockchain. For Maximalists, all other cryptocurrencies are shitcoins therefore a waste of time, development and money.
McDonald's
Common and ironic expression amongst the crypto community. It means that Mcdonald’s is always a valid backup plan or career in the case all cryptocurrencies crash and disappear.
Meatspace
Synonymous with IRL - In Real Life.
Memecoin
Cryptocurrency like Dogecoin that is based on an internet joke or meme.
Metamask
Popular crypto hot wallet platform to store crypto and NFTs.
Metaverse
Term was coined by writer Neal Stephenson in the 1992 dystopian novel “Snow Crash”. It’s an immersive and digital place where people interact via their avatars. Big tech players like Meta (formerly known as Facebook) and other independent players have been designing their own version of a metaverse. NFTs can have utility for users like buying, trading, winning, accessing, experiencing or interacting with things inside a metaverse.
Mfer
Short for “mother fker”.
Miners
Single person or company that mines one or more cryptocurrencies like Bitcoin or Ethereum. Both blockchains need computing power for their Proof of Work consensus mechanism. Miners provide the computing power and receive coins/tokens in return as payment.
Mining
Mining is the process by which new tokens enter in circulation as for example in the Bitcoin blockchain. Also, mining ensures the validity of new transactions happening in a given blockchain that uses the PoW consensus mechanism. Therefore, the ones who mine are rewarded by ensuring the validity of a blockchain.
Mint/Minting
Mint an NFT is the act of publishing your unique instance to a specific blockchain like Ethereum or Tezos blockchain. In simpler terms, a creator is adding a one-of-kind token (NFT) into circulation in a specific blockchain.
Once the NFT is minted - aka created - NFT collectors can i) direct mint, therefore purchase the NFT by paying the specified amount directly into the project’s wallet. Or ii) buy it via an intermediary like an NFT marketplace (e.g: OpenSea, Foundation, Rarible, etc.). Later, the NFT owner can choose to resell the NFT, most NFT creators set up a royalty for every time their NFT is resold.
Minting interval
How often an NFT creator can mint or create tokens.
MOAR
A misspelling that means “more”.
Moon/Mooning
When a coin (e.g. ETH), or token, like an NFT goes exponential in price and the price graph sees a vertical climb. Crypto or NFT users then use the expression that “X token is going to the moon!”.
Moon boys
Slang for crypto or NFT holders who are looking to pump the price dramatically - taking a token to the moon - for short term gains and with no real long term vision or commitment.
N
Never trust, always verify
Treat everyone or every project like something potentially malicious.
New coiner
Crypto slang for someone new to the cryptocurrency space. Usually newcomers can be more susceptible to FUD or scammers.
NFA
Acronym for Not Financial Advice.
NFT
Acronym for Non-Fungible Token. The type of token that can be created, bought, sold, resold and viewed in different dapps. The ERC-721 smart contract standard (Ethereum blockchain) is the most popular amongst NFTs.
NFT Marketplace / NFT Auction platform
Platforms where people can sell and buy NFTs, either via an auction or pay the seller’s price. The largest NFT marketplace is OpenSea. But there are other popular NFT marketplace examples like Foundation, SuperRare, Nifty Gateway, Rarible, Hic et Nunc (HeN), etc.
NFT Whale
A NFT collector or investor who buys a large amount of NFTs.
NGMI
Acronym for Not Going to Make It. For example, something said to someone who has paper hands.
NMP
Acronym for Not My Problem.
Nocoiner
It can be someone who simply doesn’t hold cryptocurrencies, mistrust the crypto market or believes that crypto is either a scam or a ponzi scheme.
Noob/N00b/Newbie
Slang for someone new or not experienced in cryptocurrency or NFTs. These people are more susceptible to scams, drawn into pump and dumps or getting rekt on bad coins.
Normie/Normy
Similar expression for a nocoiner.
NSFW
Acronym for Not Suitable For Work. Referring to online content inappropriate for viewing in public or at work. It began as mostly a tag for sexual content, nudity, or violence, but it has envolved to range a number of other topics that might be delicate or trigger viewers.
Nuclear NFTs
An NFT or collectible with more than 1,000 owners. For the NFT to be sold or resold, every co-owners must give their permission beforehand. Otherwise, the NFT transaction can’t be made.
O
OG
Acronym for Original Gangster and it popularized by 90s Hip Hop culture. It means the first, the original or the person who has been around since the very start and earned respect in the community. In NFT terms, Cryptopunks are the OG of NFTs.
On-chain vs Off-chain
An on-chain NFT is when the artwork (like a jpeg, video or music file) is stored directly into the blockchain making it more secure and less susceptible to being stolen. But, note that most blockchains can only store small amounts of data.
Off-chain NFTs means that the high quality image, music or video file is not stored in the blockchain. But, the NFT data is stored on an external party like a) a centralized server, highly vulnerable to the server being shut down/exploited. Or b) an InterPlanetary File System (IPFS), also an external party but more secure way of finding data because it utilizes a distributed, decentralized system.
OpenSea
By far the largest NFT marketplace in the world, currently.
P
Paper Hands
A crypto or NFT holder who is permeable to negative market sentiment or FUD. And does not hold their crypto or NFT for long. Expression used to describe someone who sells as soon as NFTs enter a bear market.
PFP
Stands for Picture For Profile. Twitter users who hold popular NFTs like Crypto Punk or BAYC use their punk or monkey avatar as their profile picture.
POAP NFT
Stands for Proof of Attendance Protocol. These types of NFTs are awarded to attendees of events, regardless if they’re physical or virtual, as proof you attended.
PoS
Stands for Proof of Stake. A consensus mechanism used by blockchains like Bitcoin or Ethereum to achieve agreement, trust and security in every transaction and keep the integrity of the blockchain intact. PoS mechanisms are considered more environmentally friendly than PoW as they’re lower energy and in emissions.
PoW
Stands for Proof of Work. A consensus mechanism used by blockchains like Bitcoin to achieve agreement, trust and security and keep the transactional integrity of the blockchain intact. PoW mechanism requires a lot of computational power, therefore uses more energy resources and higher CO2 emissions than the PoS mechanism.
Private Key
It can be similar to a password. It’s a secret number that allows users to access their cold or hot wallet funds, prove ownership of a certain address and sign transactions on the blockchain.
It’s not advisable to share a private key with anyone as it makes a person vulnerable to thefts. In case someone loses or forgets its private key, it can use a recovery phrase to restore access to a crypto or NFT wallet.
Pre-mine
A term used in crypto to refer to the act of creating a set amount of tokens before their public launch. It can also be known as a Genesis Sale and is usually associated with Initial Coin Offerings (ICOs) in order to compensate founders, developers or early investors.
Probably nothing
It’s an ironic expression used by NFT enthusiasts to refer to an important or soon to be big news, project or person in the NFT space. Meaning when someone says probably nothing it actually means that it is probably something.
Protocol Coin
Stands for the native coin of a blockchain. As in Ether for the Ethereum blockchain or BTC on the Bitcoin blockchain.
Pump & Dump
The term pump means when a person or a group of people buy or convince others to buy large quantities of a crypto or an NFT with the single goal to drive the price to a peak. When the price peaks, these people sell their position high and for a hefty profit, therefore dumping the price and leaving other slower investors or newbies rekt or at a loss.
R
Rarity
Rarity in NFT terms refers to how rare an NFT is. The rarity can be defined by the number of traits, scarcity or properties of an NFT.
Reaching
Slang for an exaggeration over something to make it sound worse than what it actually is or to take a point/scenario too far.
Recovery phrase
A 12-word phrase that acts like backup for your crypto private keys. A person can recover all of the crypto wallet accounts’ private keys from the recovery phrase. Is not advisable to share the recovery phrase with anyone.
Rekt
Slang for wrecked. When a crypto or NFT project goes wrong or down in value sharply. Or more broadly, when something goes wrong like a person is price out by the gas surge or an NFT floor price goes down.
Right Click Save As
An Ironic expression used by people who don’t understand the value or potential unlocked by NFTs. Person who makes fun that she/he can easily get a digital artwork by Right Click Save As and mock the NFT space and its hype.
Roadmap
The strategy outlined by an NFT project. A way to explain to the NFT community or a potential NFT investor, the different stages, value and the long term vision of the NFT project.
Royalties
NFT creators can set up their NFT so each time their NFT is resold, the creator gets paid a percentage of the sale price.
RN
Acronym for Right Now.
Rug Pull/Rugged
Slang for a scam when the founders, team or developers suddenly leave a crypto project and run away with all the investors’ funds leaving them with nothing.
S
Satoshi Nakamoto
The anonymous creator of the Bitcoin whitepaper and whose identity has never been verified.
Scammer
Someone actively trying to steal other people’s crypto or NFTs.
Secondary
Secondary refers to secondary NFT marketplaces, where NFT collectors or investors can resell NFTs after they’ve been minted. The price of an NFT or NFT collection is determined by those who list them.
Seed phrase
Another name for recovery phrase is the 12-word phrase that allows you to recover all of the crypto wallet accounts’ private keys and regain control of the wallet. Is not advisable to share the seed phrase with anyone.
Seems legit
When an NFT project or a person in the NFT community looks promising and the real deal, meaning seems legitimate. Depending on the context can also be used ironically.
Seems rare
An ironic expression or dismissive comment used by the NFT community. For example, It can be used sarcastically when someone asks for feedback on an NFT they own or created.
Ser
Slang for sir and a polite way of addressing others in an NFT community.
Shill
Expression when someone wants to promote or get exposure to an NFT they own or created.
Shill Thread
It’s a common Twitter strategy to gain traction by encouraging NFT creators to share a link to their NFT project in the hopes of getting bought or noticed by the NFT Community and potential buyers.
Simp/Simping
A NFT holder or creator who comes off as trying to hard impress an NFT whale or investor.
Sh*tposter
A person who mostly posts meme content on Twitter for fun.
SLP
Acronym for Smooth Love Potion. It’s a token players can earn as a reward in the NFT game Axie Infinity.
Smart Contract
A self-executing contract where the terms of the agreement between buyer and seller are directly written into the code and without third party or human intervention. Ethereum is a blockchain that can execute smart contracts, on the contrary to Bitcoin which does not have that capability.
SMFH
Acronym for Shaking My F*cking Head. Common reply to a person showing unbelievable idiocy.
Sock Puppet
Scam account used to lure noob investors into fake investment services.
Snag
It means to buy an NFT quickly and for a very low price. Can also be known as sniping.
Sotheby’s
Very famous auction house that has recently auctioned Beeple’s NFTs or Bored Ape Yacht Club and Crypto Punks’ NFT collections.
Stake
Crypto term for locking up a certain amount of crypto tokens for a set period of time to earn interest. In the NFT space, there are popping up a lot of projects or services that allow NFT holders to earn interest for holding a certain NFT.
Szn
Stands for season referring to crypto or NFT market cycles.
T
TINA
Acronym for There Is No Alternative. Example: someone asks “why are you investing in BTC?”, to which the reply is “TINA”.
TINA RIF
Acronym for There Is No Alternative Resistance Is Futile.
This is the way
A commendation for positive behavior by someone in the NFT Community.
Tokenomics
Referring to the economics of cryptocurrencies, DeFi or NFT projects.
V
Valhalla
Ironic use of the Viking “heaven”. Meaning someone’s NFT collection is either going to be a profitable and blue chip project, therefore they can ascend to Valhalla or is going to tank and that person will have to work at a Mcdonald’s.
Vibe
Term used to express a positive emotional state.
Volatile/Volatility
Term used to describe rapid market fluctuations and crypto or NFT prices go up and down quickly in a short period.
W
WAGMI
Acronym for We Are Going to Make It. Rally cry to build momentum for a crypto or NFT project and lead even more people into buying, shilling or supporting a specific project.
Wallet
There can be a hot or cold wallet, but both are a place where someone can store their cryptocurrency and tokens. Hot wallets are always connected to the Internet like MetaMask, Trust wallet or Phantom. On the contrary cold wallets are hardware wallets to store crypto or NFTs offline like Nano Ledger.
Weak Hands
Synonymous with Paper Hands. Someone who immediately sells their crypto or NFT because of a bear market, FUD or any other negative sentiment.
Web 1.0
Refers to the beginning of the Web. A period from around 1990 to 2005, also known as the read-only web.
Web 2.0
Refers to an iteration of Web 1.0. From 2005 to the present moment, where social media platforms like Facebook, Instagram, TikTok, Google, Twitter, etc reshaped the web, therefore becoming the read-write web.
Web 3.0
A term coined by Ethereum co-founder Gavin Wood and it’s an idea of what the future of the web could look like. Most peoples’ data, info or content would no longer be centralized in Web 2.0 giants - the Big Tech - but decentralized, mostly thanks to blockchain technology. Web 3.0 could be known as read-write-trust web.
Wen
As in When.
Wen Moon
Popular expression from crypto Twitter not so much in the NFT space. Refers to the still distant future when a token will moon.
Whitepaper
Document released by a crypto or NFT project where it lays the technical information behind the concept, vision, roadmap and plans to grow a certain project.
Whale
Someone who owns a large position on a specific or many cryptos or NFTs.
Y
Yodo
Acronym for You Only Die Once. The opposite of Yolo.
Yolo
Acronym for You Only Live Once. A person can use this when they just realized they bought a shitcoin or crap NFT and they’re getting rekt.
Original post
Ezra Reguerra
3 years ago
Yuga Labs’ Otherdeeds NFT mint triggers backlash from community
Unhappy community members accuse Yuga Labs of fraud, manipulation, and favoritism over Otherdeeds NFT mint.
Following the Otherdeeds NFT mint, disgruntled community members took to Twitter to criticize Yuga Labs' handling of the event.
Otherdeeds NFTs were a huge hit with the community, selling out almost instantly. Due to high demand, the launch increased Ethereum gas fees from 2.6 ETH to 5 ETH.
But the event displeased many people. Several users speculated that the mint was “planned to fail” so the group could advertise launching its own blockchain, as the team mentioned a chain migration in one tweet.
Others like Mark Beylin tweeted that he had "sold out" on all Ape-related NFT investments after Yuga Labs "revealed their true colors." Beylin also advised others to assume Yuga Labs' owners are “bad actors.”
Some users who failed to complete transactions claim they lost ETH. However, Yuga Labs promised to refund lost gas fees.
CryptoFinally, a Twitter user, claimed Yuga Labs gave BAYC members better land than non-members. Others who wanted to participate paid for shittier land, while BAYCS got the only worthwhile land.
The Otherdeed NFT drop also increased Ethereum's burn rate. Glassnode and Data Always reported nearly 70,000 ETH burned on mint day.
Dmytro Spilka
2 years ago
Why NFTs Have a Bright Future Away from Collectible Art After Punks and Apes
After a crazy second half of 2021 and significant trade volumes into 2022, the market for NFT artworks like Bored Ape Yacht Club, CryptoPunks, and Pudgy Penguins has begun a sharp collapse as market downturns hit token values.
DappRadar data shows NFT monthly sales have fallen below $1 billion since June 2021. OpenSea, the world's largest NFT exchange, has seen sales volume decline 75% since May and is trading like July 2021.
Prices of popular non-fungible tokens have also decreased. Bored Ape Yacht Club (BAYC) has witnessed volume and sales drop 63% and 15%, respectively, in the past month.
BeInCrypto analysis shows market decline. May 2022 cryptocurrency marketplace volume was $4 billion, according to a news platform. This is a sharp drop from April's $7.18 billion.
OpenSea, a big marketplace, contributed $2.6 billion, while LooksRare, Magic Eden, and Solanart also contributed.
NFT markets are digital platforms for buying and selling tokens, similar stock trading platforms. Although some of the world's largest exchanges offer NFT wallets, most users store their NFTs on their favorite marketplaces.
In January 2022, overall NFT sales volume was $16.57 billion, with LooksRare contributing $11.1 billion. May 2022's volume was $12.57 less than January, a 75% drop, and June's is expected to be considerably smaller.
A World Based on Utility
Despite declines in NFT trading volumes, not all investors are negative on NFTs. Although there are uncertainties about the sustainability of NFT-based art collections, there are fewer reservations about utility-based tokens and their significance in technology's future.
In June, business CEO Christof Straub said NFTs may help artists monetize unreleased content, resuscitate catalogs, establish deeper fan connections, and make processes more efficient through technology.
We all know NFTs can't be JPEGs. Straub noted that NFT music rights can offer more equitable rewards to musicians.
Music NFTs are here to stay if they have real value, solve real problems, are trusted and lawful, and have fair and sustainable business models.
NFTs can transform numerous industries, including music. Market opinion is shifting towards tokens with more utility than the social media artworks we're used to seeing.
While the major NFT names remain dominant in terms of volume, new utility-based initiatives are emerging as top 20 collections.
Otherdeed, Sorare, and NBA Top Shot are NFT-based games that rank above Bored Ape Yacht Club and Cryptopunks.
Users can switch video NFTs of basketball players in NBA Top Shot. Similar efforts are emerging in the non-fungible landscape.
Sorare shows how NFTs can support a new way of playing fantasy football, where participants buy and swap trading cards to create a 5-player team that wins rewards based on real-life performances.
Sorare raised 579.7 million in one of Europe's largest Series B financing deals in September 2021. Recently, the platform revealed plans to expand into Major League Baseball.
Strong growth indications suggest a promising future for NFTs. The value of art-based collections like BAYC and CryptoPunks may be questioned as markets become diluted by new limited collections, but the potential for NFTs to become intrinsically linked to tangible utility like online gaming, music and art, and even corporate reward schemes shows the industry has a bright future.
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Atown Research
2 years ago
Meet the One-Person Businesses Earning Millions in Sales from Solo Founders
I've spent over 50 hours researching one-person firms, which interest me. I've found countless one-person enterprises that made millions on the founder's determination and perseverance.
Throughout my investigation, I found three of the most outstanding one-person enterprises. These enterprises show that people who work hard and dedicate themselves to their ideas may succeed.
Eric Barone (@ConcernedApe) created Stardew Valley in 2011 to better his job prospects. Eric loved making the game, in which players inherit a farm, grow crops, raise livestock, make friends with the villagers, and form a family.
Eric handled complete game production, including 3D graphics, animations, and music, to maintain creative control. He stopped job hunting and worked 8-15 hours a day on the game.
Eric developed a Stardew Valley website and subreddit to engage with gamers and get feedback. Eric's devoted community helped him meet Steam's minimum vote requirement for single creators.
Stardew Valley sold 1 million copies in two months after Eric launched it for $15 in 2016. The game has sold 20 million copies and made $300 million.
The game's inexpensive price, outsourcing of PR, marketing, and publication, and loyal player base helped it succeed. Eric has turned down million-dollar proposals from Sony and Nintendo to sell the game and instead updates and improves it. Haunted Chocolatier is Eric's new game.
Is farming not profitable? Ask Stardew Valley creator Eric Barone.
Gary Brewer established BuiltWith to assist users find website technologies and services. BuiltWith boasts 3000 paying customers and $14 million in yearly revenue, making it a significant resource for businesses wishing to generate leads, do customer analytics, obtain business insight, compare websites, or search websites by keyword.
BuiltWith has one full-time employee, Gary, and one or two part-time contractors that help with the blog. Gary handles sales, customer service, and other company functions alone.
BuiltWith acquired popularity through blog promotions and a top Digg ranking. About Us, a domain directory, connected to BuiltWith on every domain page, boosting it. Gary introduced $295–$995 monthly subscriptions to search technology, keywords, and potential consumers in response to customer demand.
Gary uses numerous methods to manage a firm without staff. He spends one to two hours every day answering user queries, most of which are handled quickly by linking to BuiltWiths knowledge store. Gary creates step-by-step essays or videos for complex problems. Gary can focus on providing new features based on customer comments and requests since he makes it easy to unsubscribe.
BuiltWith is entirely automated and successful due to its unique approach and useful offerings. It works for Google, Meta, Amazon, and Twitter.
Digital Inspiration develops Google Documents, Sheets, and Slides plugins. Digital Inspiration, founded by Amit Agarwal, receives 5 million monthly visits and earns $10 million. 40 million individuals have downloaded Digital Inspirations plugins.
Amit started Digital Inspiration by advertising his blog at tech events and getting Indian filter blogs and other newspapers to promote his articles. Amit built plugins and promoted them on the blog once the blog acquired popularity, using ideas from comments, friends, and Reddit. Digital Inspiration has over 20 free and premium plugins.
Mail Merge, Notifications for Google Forms, YouTube Uploader, and Document Studio are some of Digital Inspiration's most popular plugins. Mail Merge allows users to send personalized emails in bulk and track email opens and clicks.
Since Amits manages Digital Inspiration alone, his success is astounding. Amit developed a successful company via hard work and creativity, despite platform dependence. His tale inspires entrepreneurs.
Thomas Huault
2 years ago
A Mean Reversion Trading Indicator Inspired by Classical Mechanics Is The Kinetic Detrender
DATA MINING WITH SUPERALGORES
Old pots produce the best soup.
Science has always inspired indicator design. From physics to signal processing, many indicators use concepts from mechanical engineering, electronics, and probability. In Superalgos' Data Mining section, we've explored using thermodynamics and information theory to construct indicators and using statistical and probabilistic techniques like reduced normal law to take advantage of low probability events.
An asset's price is like a mechanical object revolving around its moving average. Using this approach, we could design an indicator using the oscillator's Total Energy. An oscillator's energy is finite and constant. Since we don't expect the price to follow the harmonic oscillator, this energy should deviate from the perfect situation, and the maximum of divergence may provide us valuable information on the price's moving average.
Definition of the Harmonic Oscillator in Few Words
Sinusoidal function describes a harmonic oscillator. The time-constant energy equation for a harmonic oscillator is:
With
Time saves energy.
In a mechanical harmonic oscillator, total energy equals kinetic energy plus potential energy. The formula for energy is the same for every kind of harmonic oscillator; only the terms of total energy must be adapted to fit the relevant units. Each oscillator has a velocity component (kinetic energy) and a position to equilibrium component (potential energy).
The Price Oscillator and the Energy Formula
Considering the harmonic oscillator definition, we must specify kinetic and potential components for our price oscillator. We define oscillator velocity as the rate of change and equilibrium position as the price's distance from its moving average.
Price kinetic energy:
It's like:
With
and
L is the number of periods for the rate of change calculation and P for the close price EMA calculation.
Total price oscillator energy =
Given that an asset's price can theoretically vary at a limitless speed and be endlessly far from its moving average, we don't expect this formula's outcome to be constrained. We'll normalize it using Z-Score for convenience of usage and readability, which also allows probabilistic interpretation.
Over 20 periods, we'll calculate E's moving average and standard deviation.
We calculated Z on BTC/USDT with L = 10 and P = 21 using Knime Analytics.
The graph is detrended. We added two horizontal lines at +/- 1.6 to construct a 94.5% probability zone based on reduced normal law tables. Price cycles to its moving average oscillate clearly. Red and green arrows illustrate where the oscillator crosses the top and lower limits, corresponding to the maximum/minimum price oscillation. Since the results seem noisy, we may apply a non-lagging low-pass or multipole filter like Butterworth or Laguerre filters and employ dynamic bands at a multiple of Z's standard deviation instead of fixed levels.
Kinetic Detrender Implementation in Superalgos
The Superalgos Kinetic detrender features fixed upper and lower levels and dynamic volatility bands.
The code is pretty basic and does not require a huge amount of code lines.
It starts with the standard definitions of the candle pointer and the constant declaration :
let candle = record.current
let len = 10
let P = 21
let T = 20
let up = 1.6
let low = 1.6Upper and lower dynamic volatility band constants are up and low.
We proceed to the initialization of the previous value for EMA :
if (variable.prevEMA === undefined) {
variable.prevEMA = candle.close
}And the calculation of EMA with a function (it is worth noticing the function is declared at the end of the code snippet in Superalgos) :
variable.ema = calculateEMA(P, candle.close, variable.prevEMA)
//EMA calculation
function calculateEMA(periods, price, previousEMA) {
let k = 2 / (periods + 1)
return price * k + previousEMA * (1 - k)
}The rate of change is calculated by first storing the right amount of close price values and proceeding to the calculation by dividing the current close price by the first member of the close price array:
variable.allClose.push(candle.close)
if (variable.allClose.length > len) {
variable.allClose.splice(0, 1)
}
if (variable.allClose.length === len) {
variable.roc = candle.close / variable.allClose[0]
} else {
variable.roc = 1
}Finally, we get energy with a single line:
variable.E = 1 / 2 * len * variable.roc + 1 / 2 * P * candle.close / variable.emaThe Z calculation reuses code from Z-Normalization-based indicators:
variable.allE.push(variable.E)
if (variable.allE.length > T) {
variable.allE.splice(0, 1)
}
variable.sum = 0
variable.SQ = 0
if (variable.allE.length === T) {
for (var i = 0; i < T; i++) {
variable.sum += variable.allE[i]
}
variable.MA = variable.sum / T
for (var i = 0; i < T; i++) {
variable.SQ += Math.pow(variable.allE[i] - variable.MA, 2)
}
variable.sigma = Math.sqrt(variable.SQ / T)
variable.Z = (variable.E - variable.MA) / variable.sigma
} else {
variable.Z = 0
}
variable.allZ.push(variable.Z)
if (variable.allZ.length > T) {
variable.allZ.splice(0, 1)
}
variable.sum = 0
variable.SQ = 0
if (variable.allZ.length === T) {
for (var i = 0; i < T; i++) {
variable.sum += variable.allZ[i]
}
variable.MAZ = variable.sum / T
for (var i = 0; i < T; i++) {
variable.SQ += Math.pow(variable.allZ[i] - variable.MAZ, 2)
}
variable.sigZ = Math.sqrt(variable.SQ / T)
} else {
variable.MAZ = variable.Z
variable.sigZ = variable.MAZ * 0.02
}
variable.upper = variable.MAZ + up * variable.sigZ
variable.lower = variable.MAZ - low * variable.sigZWe also update the EMA value.
variable.prevEMA = variable.EMA
Conclusion
We showed how to build a detrended oscillator using simple harmonic oscillator theory. Kinetic detrender's main line oscillates between 2 fixed levels framing 95% of the values and 2 dynamic levels, leading to auto-adaptive mean reversion zones.
Superalgos' Normalized Momentum data mine has the Kinetic detrender indication.
All the material here can be reused and integrated freely by linking to this article and Superalgos.
This post is informative and not financial advice. Seek expert counsel before trading. Risk using this material.
Blake Montgomery
2 years ago
Explaining Twitter Files
Elon Musk, Matt Taibbi, the 'Twitter Files,' and Hunter Biden's laptop: what gives?
Explaining Twitter Files
Matt Taibbi released "The Twitter Files," a batch of emails sent by Twitter executives discussing the company's decision to stop an October 2020 New York Post story online.
What's on Twitter? New York Post and Fox News call them "bombshell" documents. Or, as a Post columnist admitted, are they "not the smoking gun"? Onward!
What started this?
The New York Post published an exclusive, potentially explosive story in October 2020: Biden's Secret Emails: Ukrainian executive thanks Hunter Biden for'meeting' veep dad. The story purported to report the contents of a laptop brought to the tabloid by a Delaware computer repair shop owner who said it belonged to President Biden's second son, Hunter Biden. Emails and files on the laptop allegedly showed how Hunter peddled influence with Ukranian businessmen and included a "raunchy 12-minute video" of Hunter smoking crack and having sex.
Twitter banned links to the Post story after it was published, calling it "hacked material." The Post's Twitter account was suspended for multiple days.
Why? Yoel Roth, Twitter's former head of trust and safety, said the company couldn't verify the story, implying they didn't trust the Post.
Twitter's stated purpose rarely includes verifying news stories. This seemed like intentional political interference. This story was hard to verify because the people who claimed to have found the laptop wouldn't give it to other newspapers. (Much of the story, including Hunter's business dealings in Ukraine and China, was later confirmed.)
Roth: "It looked like a hack and leak."
So what are the “Twitter Files?”
Twitter's decision to bury the story became a political scandal, and new CEO Elon Musk promised an explanation. The Twitter Files, named after Facebook leaks.
Musk promised exclusive details of "what really happened" with Hunter Biden late Friday afternoon. The tweet was punctuated with a popcorn emoji.
Explaining Twitter Files
Three hours later, journalist Matt Taibbi tweeted more than three dozen tweets based on internal Twitter documents that revealed "a Frankensteinian tale of a human-built mechanism grown out of its designer's control."
Musk sees this release as a way to shape Twitter's public perception and internal culture in his image. We don't know if the CEO gave Taibbi the documents. Musk hyped the document dump before and during publication, but Taibbi cited "internal sources."
Taibbi shares email screenshots showing Twitter execs discussing the Post story and blocking its distribution. Taibbi says the emails show Twitter's "extraordinary steps" to bury the story.
Twitter communications chief Brandon Borrman has the most damning quote in the Files. Can we say this is policy? The story seemed unbelievable. It seemed like a hack... or not? Could Twitter, which ex-CEO Dick Costolo called "the free speech wing of the free speech party," censor a news story?
Many on the right say the Twitter Files prove the company acted at the behest of Democrats. Both parties had these tools, writes Taibbi. In 2020, both the Trump White House and Biden campaign made requests. He says the system for reporting tweets for deletion is unbalanced because Twitter employees' political donations favor Democrats. Perhaps. These donations may have helped Democrats connect with Twitter staff, but it's also possible they didn't. No emails in Taibbi's cache show these alleged illicit relations or any actions Twitter employees took as a result.
Even Musk's supporters were surprised by the drop. Miranda Devine of the New York Post told Tucker Carlson the documents weren't "the smoking gun we'd hoped for." Sebastian Gorka said on Truth Social, "So far, I'm deeply underwhelmed." DC Democrats collude with Palo Alto Democrats. Whoop!” The Washington Free Beacon's Joe Simonson said the Twitter files are "underwhelming." Twitter was staffed by Democrats who did their bidding. (Why?)
If "The Twitter Files" matter, why?
These emails led Twitter to suppress the Hunter Biden laptop story has real news value. It's rare for a large and valuable company like Twitter to address wrongdoing so thoroughly. Emails resemble FOIA documents. They describe internal drama at a company with government-level power. Katie Notopoulos tweeted, "Any news outlet would've loved this scoop!" It's not a'scandal' as teased."
Twitter's new owner calls it "the de facto public town square," implying public accountability. Like a government agency. Though it's exciting to receive once-hidden documents in response to a FOIA, they may be boring and tell you nothing new. Like Twitter files. We learned how Twitter blocked the Post's story, but not why. Before these documents were released, we knew Twitter had suppressed the story and who was involved.
These people were disciplined and left Twitter. Musk fired Vijaya Gadde, the former CLO who reportedly played a "key role" in the decision. Roth quit over Musk's "dictatorship." Musk arrived after Borrman left. Jack Dorsey, then-CEO, has left. Did those who digitally quarantined the Post's story favor Joe Biden and the Democrats? Republican Party opposition and Trump hatred? New York Post distaste? According to our documents, no. Was there political and press interference? True. We knew.
Taibbi interviewed anonymous ex-Twitter employees about the decision; all expressed shock and outrage. One source said, "Everyone knew this was fucked." Since Taibbi doesn't quote that expletive, we can assume the leaked emails contained few or no sensational quotes. These executives said little to support nefarious claims.
Outlets more invested in the Hunter Biden story than Gizmodo seem vexed by the release and muted headlines. The New York Post, which has never shied away from a blaring headline in its 221-year history, owns the story of Hunter Biden's laptop. Two Friday-night Post alerts about Musk's actions were restrained. Elon Musk will drop Twitter files on NY Post-Hunter Biden laptop censorship today. Elon Musk's Twitter dropped Post censorship details from Biden's laptop. Fox News' Apple News push alert read, "Elon Musk drops Twitter censorship documents."
Bombshell, bombshell, bombshell… what, exactly, is the bombshell? Maybe we've heard this story too much and are missing the big picture. Maybe these documents detail a well-documented decision.
The Post explains why on its website. "Hunter Biden laptop bombshell: Twitter invented reason to censor Post's reporting," its headline says.
Twitter's ad hoc decision to moderate a tabloid's content is not surprising. The social network had done this for years as it battled toxic users—violent white nationalists, virulent transphobes, harassers and bullies of all political stripes, etc. No matter how much Musk crows, the company never had content moderation under control. Buzzfeed's 2016 investigation showed how Twitter has struggled with abusive posters since 2006. Jack Dorsey and his executives improvised, like Musk.
Did the US government interfere with the ex-social VP's media company? That's shocking, a bombshell. Musk said Friday, "Twitter suppressing free speech by itself is not a 1st amendment violation, but acting under government orders with no judicial review is." Indeed! Taibbi believed this. August 2022: "The laptop is secondary." Zeynep Tufecki, a Columbia professor and New York Times columnist, says the FBI is cutting true story distribution. Taibbi retracted the claim Friday night: "I've seen no evidence of government involvement in the laptop story."
What’s the bottom line?
I'm still not sure what's at stake in the Hunter Biden scandal after dozens of New York Post articles, hundreds of hours of Fox News airtime, and thousands of tweets. Briefly: Joe Biden's son left his laptop with a questionable repairman. FBI confiscated it? The repairman made a copy and gave it to Rudy Giuliani's lawyer. The Post got it from Steve Bannon. On that laptop were videos of Hunter Biden smoking crack, cavorting with prostitutes, and emails about introducing his father to a Ukrainian businessman for $50,000 a month. Joe Biden urged Ukraine to fire a prosecutor investigating the company. What? The story seems to be about Biden family business dealings, right?
The discussion has moved past that point anyway. Now, the story is the censorship of it. Adrienne Rich wrote in "Diving Into the Wreck" that she came for "the wreck and not the story of the wreck" No matter how far we go, Hunter Biden's laptop is done. Now, the crash's story matters.
I'm dizzy. Katherine Miller of BuzzFeed wrote, "I know who I believe, and you probably do, too. To believe one is to disbelieve the other, which implicates us in the decision; we're stuck." I'm stuck. Hunter Biden's laptop is a political fabrication. You choose. I've decided.
This could change. Twitter Files drama continues. Taibbi said, "Much more to come." I'm dizzy.