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Waiting for something unknown.✨

#digitalart #cryptoart #NFT

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Waiting for something unknown.✨

#digitalart #cryptoart #NFT

To the Future Ppl !This is the first piece of a Fan Art series I´m planning! To celebrate Back to the Future 35years I´ve built a replica of Hill Valley courthouse Iconic scene.
#Backtothefuture #3Danimation #NFTartist #NFT #NFTs #nftcollector #cryptoart #NFTartist #NFTCommunity

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0:000:00

To the Future Ppl !This is the first piece of a Fan Art series I´m planning! To celebrate Back to the Future 35years I´ve built a replica of Hill Valley courthouse Iconic scene.
#Backtothefuture #3Danimation #NFTartist #NFT #NFTs #nftcollector #cryptoart #NFTartist #NFTCommunity

The full spectrum chase ✨💖🌈

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The full spectrum chase ✨💖🌈

cryptonio123 outbids @14Ovie with a bid of 22.5Ξ ($42,916.86)

💜Sweet Dreams💜 is the final piece to be minted on @SuperRare before the @mbsjq @niftygateway drop on April 12

💎 https://superrare.co/artwork-v2/sweet-dreams-21020 💎

#astroandtheuniverse #nft

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0:000:00

cryptonio123 outbids @14Ovie with a bid of 22.5Ξ ($42,916.86)

💜Sweet Dreams💜 is the final piece to be minted on @SuperRare before the @mbsjq @niftygateway drop on April 12

💎 https://superrare.co/artwork-v2/sweet-dreams-21020 💎

#astroandtheuniverse #nft

Are you still awake, maybe you can’t sleep because you need to collect another #NFT 💤 here would be my suggestion. #nftcollectors

https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/38039128345254064647589517671143081133011420513097535766912356045203557056518

‘falling from grace’

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‘falling from grace’

Yo @tomorchrd‘s “Hidden Wakizashi” just totally 🤯 my mind. Insane talent! https://superrare.co/artwork-v2/hidden-wakizashi-17155 #NFT #nftart #NFTartists

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Yo @tomorchrd‘s “Hidden Wakizashi” just totally 🤯 my mind. Insane talent! https://superrare.co/artwork-v2/hidden-wakizashi-17155 #NFT #nftart #NFTartists

Read Thread
Everyone wants to decouple time from money. The problem? It's an extremely unpredictable way to make a living. For every successful creator, there are thousands who make nothing or almost nothing. So, how do you make the unpredictable, predictable? Here's what I learned:
See, there are two very distinct worlds of how to make a living in our universe. The first world is the one we're mostly familiar with, where you follow a predictable career path.
Say you want to make a living as a programmer, a doctor, a plumber, an English teacher, etc. If you do certain things (learn to code, get a specific degree, etc.) you can increase the odds of getting what you want to very close to 100%.
And you can also expect such a profession to earn you a certain amount of money within a relatively narrow income range. Payoffs in this world tend to follow a normal distribution. The path to get what you want, and the expected payoff, are both highly predictable.
In the second world, the payoffs tend to follow a Pareto distribution, where you can expect wild differences in income among people doing the same thing. Making a living in this world is far from predictable.
There is no guaranteed way to make a living as a musician, an author, a startup founder, a blogger, a YouTuber, and so on. You can't just study YouTubing, pass a YouTube exam, and expect to start collecting the minimum wage by producing content for 40 hours a week.
This Pareto world is extremely competitive, random, and highly unpredictable.
So, if you want to make a living doing activities that fall into the Pareto world, you can't treat it like a normal career. You can't just rely on focus and hard work to make ends meet. You can't rely on perseverance and consistency.
If you do it that way, chances are you'll find yourself on the extremely long tail that's commonly occupied by starving artists.
To make a living in the Pareto world, you must behave like a venture capitalist, a book publisher, or a major film studio. You must have a portfolio of enough things going on that you can expect a few payoffs to be happening regularly.
A book publisher will publish thousands of books every year, with the expectation that a small number of them will produce all the profit. To make things work in this world, you have to adopt a similar attitude. But that still won’t be enough!
The problem is that as an individual, you can't realistically publish 1000s of books a year. You can't start 100 businesses at the same time. You can't possibly scale yourself like the corporate entities that operate in the Pareto world.
Successful operators of Pareto ventures make many asymmetric bets. These are situations where the downside is small and capped, but the upside is often large or unlimited.
For a book publisher, putting a book on the market usually has a small, fixed cost, but if the book becomes a best seller, the payoff is practically unlimited. With enough attempts, the outcomes will start to look almost predictable.
But, for you as an individual, asymmetric bets are not enough. Because if you can't fit enough repetitions in your life to have a reasonable chance of materializing a payoff in your lifetime, then the upside doesn't really matter.
If you're placing bets with odds of 1 in 1000, but you can only do so 5 times, the chances are you'll join the group of starving artists. So how do you solve this problem?
Well, primarily, by giving up most of the upside and going for the low-hanging fruit. You want to do things that, while still very randomness-laden, will very likely yield a small win.
You can never squeeze out all the uncertainty from Pareto activities, so you must leave enough space to try a few things at the same time. And to be able to build a portfolio of such things, you must ruthlessly minimize the input required by you.
For example, you almost certainly won’t be able to write 1000 books this year. But you can almost certainly write 1000 tweets. If we assume it takes 15 minutes per tweet, posting 1000 tweets would take you just 41 minutes per day on average.
Now, you're not going to become the next J. K. Rowling by writing 1000 tweets, but you will have a very reasonable chance of building a small audience with just that small effort.
It's not guaranteed (nothing is in the Pareto world), but the odds are in your favor. And once you have an audience, you have an asset to build on. You gain optionality. You get more information. You build a distribution channel. You increase your luck surface area tremendously.
Trying to build an audience with minimal effort is just one example of a small bet. But let me give you a few other examples from my own recent business activities.
When I came up with the idea of writing a self-published book about AWS, I asked an ex-colleague of mine to become my co-author. I could have written the book myself, and in hindsight, I lost $52,958 (so far), just to save a couple of weeks of work.
But it was still the right decision. Back then, I had no clue whether I was going to sell $10,000 or $1,000, or any copies at all. Cutting the effort in half was a great choice, even though it was already going to be aggressively time-boxed.
Aggressively capping your inputs is important for many reasons. The most obvious is that it gives you space for more bets. But it also helps tremendously with motivation. It's a lot easier to do small things, and the failures hurt a lot less when you haven’t put in a big effort.
Most importantly, a fraction of a win is almost as valuable as a full win. I don't care much that I left half of the profit for my AWS book on the table. After the first $1,000 came in, I knew this profession could became a viable income stream for me.
And that's all I needed to learn. 4 months later, I released my second info product (the Twitter audience course), which crossed $200,000 in sales last month. And this one, I did all by myself.
But even with my second product, I tried ruthlessly to limit my input. Initially, I was going to publish that as another short book, but then I realized that I could say what I wanted to say much faster if I made a video instead.
And that's what I did. That product turned from an idea in my head to a product on the market in just 3 days. Over the last 10mo, it has made an average monthly profit of $17,643. That payoff was unpredictable (and totally unexpected), but the small input was very intentional.
And even my most recent product (Profit and Loss) has been shaped by ruthless input minimization. I was very tempted to do something more elaborate, with a full-blown community, weekly interviews, real-time dashboard access, and so and so forth.
The upside would have been considerably higher than what this product could ever achieve, but I quickly realized that doing all of that would have required a commitment from me that wasn't very compatible with my portfolio strategy.
And this is how I intend to keep making the unpredictable, predictable: - Aggressive input minimization - Ruthless application of the 80/20 rule - Curbing grandiose ambitions - Going for small wins - Doing a few things at the same time A portfolio of small bets.

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Daniel Vassallo

tomorrow we will be dropping “satoshi collection” other than the artist and various small parties only @APompliano has seen the full collection | let’s just say ~ there is a ton of interest 👀 ~~ 300 RTs we drop previews early

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tomorrow we will be dropping “satoshi collection” other than the artist and various small parties only @APompliano has seen the full collection | let’s just say ~ there is a ton of interest 👀 ~~ 300 RTs we drop previews early

Read Thread
1/ I want to sincerely apologize to anyone who sent me a DM on Instagram over the last 2 weeks. Have been trying to get through all of the DMs but no matter how many I try to do a day, the message requests are stuck at "99+". Given that, please read the following thread:
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2/ For general questions on NFTs, visit the $WHALE discord server at http://discord.gg/whale . We have over 6,000 NFT creators and collectors who I am sure would be happy to give advice and guidance. You can also check out the $WHALE Youtube @ https://www.youtube.com/channel/UCKwYcvztdXTCQgcmh0fMXJA
3/ To make myself more available to answer questions personally, I will establish an hour a week starting next week on @joinClubhouse so that we can do some rapid fire questions and answers. More to come on this.
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4/ The best place to get me to look at art work or NFTs you have created? Twitter. Feel free to tag me with a polite introduction and I will always "❤️" your post when I have seen it.
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5/ My one-to-one meetings are extremely limited and while I would love to get to know each and every one of you, we have time. Come to events, get to know myself and the @whale_community team and I assure you we are some of the friendliest people you will ever meet.
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6/ I hope everyone understands that I want to provide as much knowledge as I can, to as many people as I can... which is why I tweet and CH as much as I do these days. Welcome to NFTland everybody and I can't wait to *eventually* meet all of you❤️
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WhaleShark.Pro

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Dropping 10/03/2021 on @withFND

https://foundation.app/hexa

unknown yet verified | we will be posting purchasing procedures very soon – make sure to click the bell | “satoshi collection” drops 03-09-2021

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unknown yet verified | we will be posting purchasing procedures very soon – make sure to click the bell | “satoshi collection” drops 03-09-2021

If it looks simple, it was hard.

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If it looks simple, it was hard.

Read Thread
1/8 The Wealth Management Playbook for NFT Creators While I am excited to see the amount of growth in NFTs , I also deeply care about the people who are being given a lifetime opportunity to earn it and keep it. Don't be "that guy" who had it and lost it all. Let's Geddit:
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2/8 Debt: Pay it off Contraty to popular belief, you cannot build a sustainable empire on a rickety house of cards. The majority of debt sucks and will suck you for all your worth when you're both in and out of the money. Prioritize paying off debt over all other expenses.
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3/8 Rain Day Fund: Have one Earnings are cyclical in nature and nobody shoots straight to the moon. Accumulating a rainy day fund that covers all your expenses (rent, food, utilities) for at least 6 months and then expanding it is essential. And you never touch it. Ever.
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4/8 Invest: In yourself Your first investment should always be in yourself: Better equipment More knowledge Therapy for mental health Gym membership for physical health These are things that nobody can take away from you and will serve you well for the rest of your life.
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5/8 Invest: Diversity and Risk Anyone who is telling you that Crypto is a "sure thing" and "low risk" is delusional. Diversify your investments across real estate, precious metals, blue chip stocks, crypto and more. Your risk profile depends on your age.
6/8 Invest: Passive income is King, capital appreciation is Queen Passive income generated by investments such as real estate rental, stock dividends and crypto staking will provide you with a healthy money flow. It's like having a job you never have to work at.
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7/8 Invest: Say "No" Suddenly, everybody and their grandmother wants to tell you about their "new idea" or how something will "revolutionize [insert industry] as we know it". Learn to say "No"and say "No" (politely) to 9 out of 10 opportunities that come your way.
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8/8 Conclusion A financial education is not as difficult or technical as people might think it is. Don't be intimidated. Properly planning your finances will give you peace of mind over the course of your entire lifetime. Don't be *that guy* who had it, and then lost it all.
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WhaleShark.Pro

“Reduce options. Increase focus. Multiply results.” — @behaviorgap

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“Reduce options. Increase focus. Multiply results.” — @behaviorgap

Imagine lucking into the one-in-a-bazillion chance to be alive, and you squander it by living the preferences of others.

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Daniel Vassallo

Imagine lucking into the one-in-a-bazillion chance to be alive, and you squander it by living the preferences of others.

Read Thread
1/ Get a cup of coffee. In this thread, I'll show you a simple way to work out a fair price to pay for a wonderful business.
2/ As Buffett likes to say:
3/ So, whenever we buy a stock, it's a good idea to ask ourselves 2 questions: a) Is this a wonderful business? And, b) Is it available at a fair price?
4/ From an investing standpoint, a "wonderful business" is one that: a) Earns high returns on the capital invested into it. And, b) Has opportunities to re-invest these earnings back into itself at similarly high rates of return. For more:
10-K Diver @10kdiver1/ Get a cup of coffee. In this thread, I'll help you understand Warren Buffett's famous quote: it's better to buy a wonderful business at a fair price than a fair business at a wonderful price. twitter.com
5/ Notice that Buffett didn't just say: buy a wonderful business. Instead, he said: buy a wonderful business *AT A FAIR PRICE*. So the question is: how do we calculate a "fair price" to pay for a wonderful business?
6/ Let's put some numbers to it. Suppose our business earns 30% per year on the capital invested into it. In a zero interest rate world, this is a pretty, pretty, pretty good rate of return!
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7/ And let's also say that the business has opportunities to re-invest every dollar of earnings back into itself -- at the same 30% rate of return. Again, not bad!
8/ At the start of "Year 1", suppose the business had $1B of capital. Then, during Year 1, the business will earn 30% of $1B = $300M. The business will retain, and re-invest, this entire $300M of earnings back into itself.
9/ So, at the start of Year 2, the business will have $1B + $300M = $1.3B of capital. And during Year 2, the business will still earn 30% -- but on this expanded capital base. So, earnings will be 30% of $1.3B = $390M. All of which will be re-invested in Year 3. And so on.
10/ Let's say this continues for 20 years. In Year 21, the company will earn about $57B, as the table below shows:
11/ 20 years down the line, suppose the company is trading at a forward P/E of 20 -- a reasonable multiple for a wonderful business like this. That means the company's market cap (ie, the total value of all its shares taken together) at the time will be $57B * 20 = ~$1.14T.
12/ Suppose we buy the stock today, and we want to make a 25% (pre-tax) annualized return over the next 20 years on this investment. How much can we pay for the stock today? Working backwards from our ~$1.14T figure, we see that we can pay ~$13B for the whole company today:
13/ This is a P/E of roughly $13B/$300M = 43. So, we can pay up to ~43 times earnings for the company's shares today, and we're still likely to get a ~25% return over the next 20 years -- assuming we have a wonderful business and it stays that way.
14/ 43 times earnings seems "optically" high. But for such a wonderful business, even paying this expensive looking price is likely worth it -- because the business earns such good returns on capital and has good prospects for re-investing earnings. As Charlie Munger said:
15/ But of course, the more we pay for the business today, the lower our 20-year returns will be. For example, if we pay 100 times earnings, our returns will go from ~25% to ~20% annualized. At 200 times earnings, our returns will only be ~16% annualized. And so on.
16/ So that's our method for calculating a "fair price" for a wonderful business. Step 1. We estimate the business's return on capital, earnings, and re-investments for the next several years. For example, we assumed a 30% return on capital, with all earnings re-invested.
17/ Step 2. We set a reasonably conservative "end multiple" for our business. For example, we assumed that our business will trade at "20 times earnings" 20 years down the line.
18/ Step 3. We work backwards. How much we can pay for the business today -- and still end up with the return we want? For example, to get a 25% (pre-tax) annualized return over 20 years, we concluded that we can pay up to ~43 times earnings for our business today.
19/ Dividends complicate the picture somewhat. For example, what if our business will earn 30% on all invested capital over the next 20 years, but it can only reinvest half its earnings at this return? (The other half is returned to shareholders as dividends each year.)
20/ Now the calculations are more complicated. Here's a formula for the maximum P/E multiple we can pay for a wonderful business -- given its return on capital, dividend payout, "end multiple", and our desired rate of return over the next several years:
21/ And here are a couple of examples applying the formula above:
22/ The second example tells us that if our business is able to only re-invest half its earnings each year (with the other half returned as dividends), the P/E we can pay drops from ~43 to just ~8 -- for us to bag the same 25% (pre-tax) annualized return over the next 20 years.
23/ This is an 80% drop in the price we can pay! That's the power of a business re-investing earnings at high returns. If a business can only re-invest *half* its earnings each year, it's worth *much* less than a business that can re-invest *all* its earnings.
24/ Here are some key lessons from this thread. Key lesson 1: The more we pay for a business at the outset, the worse our returns will be over the next several years.
25/ For example, Microsoft is a wonderful business. But in spite of this, those who paid a hefty price for Microsoft shares in 1999 had to endure decades of poor returns. As @ChrisBloomstran recounts in his excellent 2020 Semper Augustus letter:
26/ Key lesson 2: The more wonderful a business is (ie, the higher its return on invested capital, and the more opportunities it has for reinvesting earnings), the more we can pay for it and still get a good return over time.
27/ Key lesson 3: The real danger lies in misjudging business quality, not miscalculating price. If the business is truly wonderful, it will eventually reward us for holding it -- even if we paid an optically high (but not crazy!) price for it at the outset.
28/ But if we misjudged business quality (eg, we mistook a mediocre business for a wonderful one), there's no such "bailout" over time. In this case, only the capriciousness of Mr. Market can bail us out -- and that may never happen.
29/ As Buffett wrote in his 1989 letter: Time is the friend of the wonderful business, the enemy of the mediocre. In the same vein, time is also a friend of the *shareholder* of a wonderful business, even if that shareholder got a bit carried away with his purchase price.
30/ This ~1 hr, 30 min talk by Terry Smith describes these concepts beautifully. Please do watch it if you have the time: https://www.youtube.com/watch?v=YZM9dhiDbzI
31/ I also very much like @ChrisBloomstran's "dual margins of safety" idea -- where safety comes from both *high business quality* and *a sensible purchase price*, not one or the other. From Chris's 2019 Semper Augustus letter:
32/ As Ben Graham says in The Intelligent Investor, in any stock transaction, it's always a good idea to think about *both* "price" and "value". I hope this thread was able to quantify this connection and make it a bit more concrete.
33/ If you're still with me, thank you so much! Your unwavering support and encouragement are priceless. (For everything else, there's MasterCard.) Please stay safe. Enjoy your weekend! /End

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10-K Diver

no #NFT will be sold for more than 1$ by rekodi || we are democratizing access to scarce art || “satoshi collection” drops 03-09-2021

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no #NFT will be sold for more than 1$ by rekodi || we are democratizing access to scarce art || “satoshi collection” drops 03-09-2021

“We don’t want the thing we’re after, we want to be after the thing.” — @jonathanwilson

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“We don’t want the thing we’re after, we want to be after the thing.” — @jonathanwilson

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Stay the course.

“Impatience with actions, patience with results.” — @naval

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“Impatience with actions, patience with results.” — @naval

🔵🟠🟡🟢🔴

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🔵🟠🟡🟢🔴

unknown yet verified || “satoshi collection” drops 03-09-2021

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unknown yet verified || “satoshi collection” drops 03-09-2021

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