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for context for others following along, Galois Capital went public with their criticism months before they started shorting. most people didn't listen. https:/

for context for others following along, Galois Capital went public with their criticism months before they started shorting. most people didn't listen. https://twitter.com/galois_capital https://twitter.com/galois_capital

SilasX 4y ago
Was there a specific tweet you meant to link? That just goes to Galois’s profile page.
- dropnerd 4y ago
  its months and months worth of tweets, and that's all they talked about during this year. first a cryptic puzzle as a recruiting tool for analysts: https://twitter.com/Galois_Capital/status/1486937936054689793 https://twitter.com/Galois_Capital/status/148693793605468979... followed by months of warnings like this: https://twitter.com/Galois_Capital/status/1512175439032328198 https://twitter.com/Galois_Capital/status/151217543903232819... and threads pushing the systemic risk angle: https://twitter.com/Galois_Capital/status/1504611166995292165 https://twitter.com/Galois_Capital/status/150461116699529216...
  - bombcar 4y ago
    That chain in the first tweet should be enough to frighten anyone.
    - dropnerd 4y ago
      imagine moving your savings to stablegains. you're definitely not reading galois tweets. why the founders didn't flinch... who knows? maybe they decided that 3ac being invested is their security.
    - teraflop 4y ago
      Until about 2/3 of the way through, I was convinced it was a parody.
  - AlexandrB 4y ago
    Some of the replies to that second tweet thread are hilarious in retrospect: > But is this any more likely to happen than, say, the global thermonuclear war that is held at bay by the principle of MAD? I feel like we are surrounded by doomsday scenarios; economic and existential. Who would pull the pin on this one? Or is the problem blind faith in an algo? - https://twitter.com/thestephoflife/status/1512202187438448645 https://twitter.com/thestephoflife/status/151220218743844864...
  - SilasX 4y ago
    Thanks for the more detailed links! I'm curious why you call the first one cryptic though? It seems the opposite to me: it refers to all the elements by their actual, real-cryptocurrency-world names. To me, "cryptic" would mean that it abstracted away from all the actual terminology used, and just describes it in terms of pure mathematical finance, which would be cryptic since you'd be left wondering, "uh, what is this referring to? Is this an actual thing?" I also don't see how it works as a recruiting tool. This is a space that involves exploiting domain knowledge, and it's trying to bring in expert outsiders who just haven't yet used their analytical expertise in this domain. But tweets heavily depend on you already knowing how all these protocols work (e.g. what staking/minting/gauge weight mean). Such a person, if an expert analyst as well, would already be working in the field or exploiting that knowledge themselves, and you wouldn't be plucking such diamonds out of the Twitter rough.
    - dropnerd 4y ago
      they hid the answer to find junior analysts instead of stating the solution outright https://twitter.com/galois_capital/status/1486937949237297152 https://twitter.com/galois_capital/status/148693794923729715...
      - SilasX 4y ago
        Well, yeah, of course they hid the answer. My point was that making it cryptic would be removing the real names of the referents.

SilasX 4y ago

Was there a specific tweet you meant to link? That just goes to Galois’s profile page.

dropnerd 4y ago
its months and months worth of tweets, and that's all they talked about during this year. first a cryptic puzzle as a recruiting tool for analysts: https://twitter.com/Galois_Capital/status/1486937936054689793 https://twitter.com/Galois_Capital/status/148693793605468979... followed by months of warnings like this: https://twitter.com/Galois_Capital/status/1512175439032328198 https://twitter.com/Galois_Capital/status/151217543903232819... and threads pushing the systemic risk angle: https://twitter.com/Galois_Capital/status/1504611166995292165 https://twitter.com/Galois_Capital/status/150461116699529216...
- bombcar 4y ago
  That chain in the first tweet should be enough to frighten anyone.
  - dropnerd 4y ago
    imagine moving your savings to stablegains. you're definitely not reading galois tweets. why the founders didn't flinch... who knows? maybe they decided that 3ac being invested is their security.
  - teraflop 4y ago
    Until about 2/3 of the way through, I was convinced it was a parody.
- AlexandrB 4y ago
  Some of the replies to that second tweet thread are hilarious in retrospect: > But is this any more likely to happen than, say, the global thermonuclear war that is held at bay by the principle of MAD? I feel like we are surrounded by doomsday scenarios; economic and existential. Who would pull the pin on this one? Or is the problem blind faith in an algo? - https://twitter.com/thestephoflife/status/1512202187438448645 https://twitter.com/thestephoflife/status/151220218743844864...
- SilasX 4y ago
  Thanks for the more detailed links! I'm curious why you call the first one cryptic though? It seems the opposite to me: it refers to all the elements by their actual, real-cryptocurrency-world names. To me, "cryptic" would mean that it abstracted away from all the actual terminology used, and just describes it in terms of pure mathematical finance, which would be cryptic since you'd be left wondering, "uh, what is this referring to? Is this an actual thing?" I also don't see how it works as a recruiting tool. This is a space that involves exploiting domain knowledge, and it's trying to bring in expert outsiders who just haven't yet used their analytical expertise in this domain. But tweets heavily depend on you already knowing how all these protocols work (e.g. what staking/minting/gauge weight mean). Such a person, if an expert analyst as well, would already be working in the field or exploiting that knowledge themselves, and you wouldn't be plucking such diamonds out of the Twitter rough.
  - dropnerd 4y ago
    they hid the answer to find junior analysts instead of stating the solution outright https://twitter.com/galois_capital/status/1486937949237297152 https://twitter.com/galois_capital/status/148693794923729715...
    - SilasX 4y ago
      Well, yeah, of course they hid the answer. My point was that making it cryptic would be removing the real names of the referents.