Chris Burniske@cburniske · 4 天前观点输出Worth reflecting on who you are at the bar
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Chris Burniske@cburniske · 6 天前赛道影响In times like this, if you're a long term investor, you don't want to be waffling about being in or out, you want to be stacking units systematically. Don't get confused by the traders, it's a separate game.
On unit accumulation, depending on how long you've been in the game, it's helpful to think in "relative units" of the investment you did best with. I'll use $ETH because the math is easy and relates well to younger networks.
ETH has ~120M units. Let's say I once held 10 ETH.
Now I'm looking to stack $SOL, but SOL has ~636M units, or ~5.3x the # of units. Therefore, to have an equivalent position size in network terms, I'd need 53 SOL. If I want to own double the network % of SOL, that I owned of ETH, I'd need 106 SOL.
Or, perhaps I'm considering $TIA, which has ~1.16B total supply, or ~9.7x the # of units of ETH. In that case, I'd need 97 units of TIA to have a network equivalent. If I want to place a bigger network bet on TIA, because the network value is lower than when I entered ETH, then 10x the % ownership would require me to accumulate 970 TIA. 100x the % ownership = 9,700 TIA. Going for significantly more ownership, at cheap prices, if you're right, can lead to asymmetric outcomes.
$ZEC is another good example of this, since its supply mirrors $BTC's. And so it's easy to think of your "dream # of BTC," and aim to accumulate that in ZEC, if you're so inclined.
Pick your networks of choice, and do the math. I have always found thinking in unit terms keeps me grounded, optimistic, and goal oriented in dreary times. I can then dream about future upside in the thick of the bull, but the important thing is to systematically stack the units with a high conviction methodology in the bear or early-bull pullbacks.
In terms of where we are now, which is probably why most of you are still reading :) BTC has been bleeding out the long-tail while remaining resilient, with many names 20-40%+ down from the highs while BTC is down just shy of 10%. You can either say BTC has already bled the risk appetite out of the market and so most of the work is done, or you can say BTC hasn't dropped much so it'll be really terrible if it goes cliff diving. I'm sympathetic to the former view.
I read this as an early-bull opportunity rather than a warning sign that this move was a "bull trap," and so I'm inclined to be a buyer. You have to respect the possibility of lower levels, and so tranche out any dry powder that remains with % cash used corresponding to % probability those levels are the local bottom - yes, you likely end up with some excess cash if not all levels are hit, but that's okay. And don't forget, there's already opportunity in front of you.
AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。
Chris Burniske@cburniske · 9 天前观点输出My, what big bounce you have.
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Chris Burniske@cburniske · 11 天前赛道影响Crypto in its value era, while AI is in its inflated token era.
Value tends to be where few are looking.
AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。
Chris Burniske@cburniske · 12 天前赛道影响The accelerating rate of software development is going to close the gap between blockchains and meatspace accounting systems (finance, legal, health, etc) shockingly fast.
AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。
Chris Burniske@cburniske · 13 天前赛道影响In 2017 a wise man told me: “When you think it’s over, it’ll just be getting started.”
I think we’ll reflect upon 2026 as such a period for blockchains.
AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。
Chris Burniske@cburniske · 15 天前观点输出Alongside strong demand growth, Jamie also points out new token supply has fallen from 26.5% annually in Dec 2021 to 3.3% today.
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Chris Burniske@cburniske · 16 天前观点输出Market seems to be waking up to the insane throughput of Fibre, one of the few architectures able to satisfy the mind-numbing scale of an agentic wave of demand.
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Chris Burniske@cburniske · 16 天前观点输出Love the smell of fear in an early bull
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Chris Burniske@cburniske · 24 天前观点输出woke up from a long nap, what'd i miss?
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
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