Co-founder @CryptofolioApp | Building accurate portfolio tracking for crypto | Former banker | Stacking sats since 2017
Joined March 2021
- Tweets 3,096
- Following 168
- Followers 663
- Likes 7,114
512 Photos and videos
Pinned Tweet
When I first started in crypto, I didn't care about anything more than my balance. That big bold number at the top of my tracker app.
As I spent more time hopping between chains, tokens, and protocols, I started realizing that wasn't enough.
How much did I make from memecoins vs. LP interest vs. binance earn vs. btc gains?
How much had I already made but cashed out? What's the most I'd ever had in crypto?
Big one for me--how much did I actually lose in nfts vs. rugs vs. hacks?
Your tracker app isn't going to tell you that. It'll just show that you have 100k and 70k of that is in USDT and 30k in BTC. Maybe some ETH dust.
That might be good enough when you're starting out. But you graduate out from that soon enough.
Apr 2
Your portfolio app shows $15,000. That’s your balance, not your profit.
It could mean that you invested $10,000 and made $5,000. Or you invested $18,000 and are down $3,000. Same screen. Completely different outcome.
Your app shows the same number for both. 🧵👇
1
1,059
Feels more likely that this is punitive for anthropic standing firm against USG and palantir a few months back.
Also ironic that Sacks himself was literally a proponent of no AI regulation and mentioned that all LLMs were training off each other.
Jun 13
I’ve had a number of conversations with folks inside and outside government about the current situation with Anthropic, and here is what I believe to be true:
— As we know, Anthropic publicly released its Mythos class models earlier this week under the commercial name Fable.
— Fable is Mythos with guardrails. But if those guardrails fail, then you’ve exposed Mythos and its advanced cyber capabilities to people who shouldn’t have them. (Keep in mind that Anthropic itself widely promoted the idea that Mythos was a cyberweapon and needed to be regulated as such. They asked for government regulation of Mythos and championed the guardrails on Fable. If there is a vulnerability — big or small — it is Anthropic’s responsibility to patch.)
— A highly credible trusted partner of both Anthropic and the USG who was testing Fable came forward with a jailbreak of those guardrails. The Admin asked Dario to fix the jailbreak or de-deploy the model. Dario refused.
— In their blog post, Anthropic defended its decision by saying the jailbreak isn’t serious. That is not what the trusted partner and the USG believe; nor is that kind of minimizing language consistent with Anthropic’s brand as the AI safety company. It’s difficult to fathom how they could claim a jailbreak allowing operability of a cyber weapon could be defined as not “serious.”
— In the past, Anthropic has always said that safety must be top priority and taken super seriously. In this case, Anthropic prioritized the continued offering of the consumer model over safety.
— In reaction, the Admin issued the export control. The Admin did this reluctantly. It’s been very surprised that Anthropic hasn’t wanted to cooperate with a reasonable safety request (ie fixing the jailbreak issue). Anthropic’s reaction is very much at odds with their branding and ethos as a safe AI research community.
— The Admin’s hope now is that Anthropic remediates the safety issue, the export control is lifted, and Fable goes back into general release. The Admin wants all of this to happen as soon as possible. It is frankly bewildered that Anthropic hasn’t wanted to comply with safety requests that it previously said were its highest priority.
— Those trying to misdirect and tie this action to the prior DoW/Anthropic issues are wrong. The Admin values Anthropic’s technical capabilities and feels that this issue, while serious, should be easily resolved. The ball is in Anthropic’s court.
1
57
SpaceX IPO’d today and Musk became the world’s first trillionaire. His net worth grew by ~$120 billion in a single day. He made ~$2b while he slept last night.
His $1.1T is about 90% of every Bitcoin in existence, and more than 50% of the entire crypto market.
1
58
Everyone's made the classic first-time founder mistake. Overdesigned the MVP, and v0.1 was really more like a v2.5.
It gets even worse if you've already built full designs for the entire v2.5 scope. So any cut you make to get back to a real MVP means redesigning the app too.
Everyone tells you to ship an MVP first. Few explain what that actually means, and even fewer tell you when you've blown past it.
Keep the people who can be that direct with you close. They're worth their weight in gold.
36
Every crypto tax tool fails the same way. They try to reconstruct your cost basis after the fact, then choke on the chains and protocols they don’t support. The real problem was never tax. It’s that nobody tracks accurately while it’s happening, across everything you touch.
AI changes this. It can read the contract code behind a protocol and generate support for it directly, which is the only way coverage ever keeps up with how fast crypto adds chains, protocols, and tokens.
AKA, get the tracking right continuously and the tax output is just a byproduct.
40
Claude Mythos is live. The cost to build something has never been lower. The risk to DeFiers has never been higher.
Have fun. Be responsible. And if you haven’t already, cancel your open wallet connections with revoke.cash. 2 minutes to protect your wealth.
Introducing Claude Fable 5: a Mythos-class model that we’ve made safe for general use.
Its capabilities exceed those of any model we’ve ever made generally available.
1
1
108
The highs of building your own startup are higher than any job could ever give. The lows are lower too. There's no way to get it until you've jumped into the deep end yourself.
1
44
Crypto can’t build the future of finance while so many builders and investors are focused on extraction. Pump dot fun, prediction markets, the whole pump-and-dump culture, even “democratizing finance” vis-a-vis hyperliquid. All of it pulls against the actual goal.
What moves things forward is experimenters. The Vitaliks, the Stanis, the Michaels. Even Do Kwon, who did real damage but was actually trying to build something novel. People pushing the frontier out of conviction instead of a cash grab.
They built real things first. The money showed up after.
1
57
Your portfolio balance and your actual P&L are not the same number, and people only learn that at tax time.
Say you bought 1 $BTC at $40k, sold at $120k last October, then rebought at $62k now. Your balance looks roughly flat, but you actually realized an $80k gain that you owe taxes on.
71
Watched CoinStats, DeBank, and Koinly all give different answers on a Kamino $SOL LP position.
CoinStats sees the deposit but not the interest, then resets your SOL cost basis to market price on withdrawal.
DeBank doesn’t do Solana at all. Usually better with DeFi tx categorization but huge miss on this.
Koinly catches it but makes you manually enter the cost basis for the principal, the interest, and the withdrawn SOL after redemption. Try doing that a year and hundreds of DeFi transactions later.
84
Never forget that an audit doesn't mean a protocol is safe. Take it from someone who's gotten dozens of them. Usually it just means a project has 5-6 figs of burnable cash and investors asking "wen launch"
63
It’s hard to get your first 100 users. It’s even harder if you don’t know where they live.
Crypto users are notoriously divided. Shitcoin gamblers live on CT and telegram. OG DeFiers, farmers, and devs live on CT and discord. All three play around on reddit. Know which group your product speaks to and target the channel they frequent. If you’re on the wrong platform, you’re dead on arrival.
There’s no first 100 without your first 10. These will be your most loyal users. They’ll also be your most critical. They’ve bought into the value of your product and want to shape it to solve their specific problems. Let them. If they have a problem, others do too, and your product will find new pmf. It’ll also convert your loyalists into evangelists who endorse you in their groups.
Early users are sticky. They enjoy being early adopters, but they’ll also be the biggest critics if they feel dismissed.
We learned this on the ground at Cryptofolio. Functions like the ability to see your specific portfolio composition on any historical date, filtered transaction exports, and claim reminders for DeFi rewards all became real selling points and came directly from early followers who pushed us to build them. They told their friends, who then told us what they wanted, and the loop kept going.
204
User research will make or break your product. It’s your insight into what problems your product needs to solve, but it’s also the path to your first 100 users.
It also looks nothing like what the textbooks describe. There’s no survey panel, no usability lab, no $50k market testing, etc.
User research actually looks like a DM from a Reddit user testing out your app but who couldn’t connect their account. It’s a buddy who wanted to test your product but gave up after getting stuck during onboarding. It’s a shitposter roasting you for leaving something broken for a couple weeks. This is the same person who was one of your first signups and who took the time to write a full paragraph about what they wanted but didn’t get.
Keep your conversations public and other users will stumble across them. They’ll be curious to see if you actually solved others’ problems—likely the same problems they’re having—and they’ll test your product too. If you’re lucky, they’ll take the time to give their feedback. If you come through, they’ll pass the word onto their friends.
It’s a time-consuming process, but it’s a time-tested playbook to early startup growth. You need tough skin, but you get more alpha from any one of these than from a hundred random surveys.
1
183
How many wallets and exchanges accounts do you have?
I have 40 . Some for higher risk protocol farming, minting, shitcoin gambling, lending, long term accumulation, and some for fiat on/offramping.
Tracking—not just balance changes but actual profit on each ‘category’ of wallet is top signal but hard af to automate.
2
76
Startups are funny. You set out to solve one problem and realize you’re actually solving another.
Cryptofolio was originally designed as a portfolio tracker. We quickly realized most trackers don’t actually calculate P&L, they just show balances. For real performance calculations, you need a tax app. But tax apps are designed to be used once a year, in april, and nobody opens them again until the following march.
So we built something in the middle. A tracker accurate enough to handle taxes, but easy enough to use every day. That’s the message that resonated with people who wanted to know how much they’re up in October, not just during tax season.
And we stumbled into it.
1
1
109
Pre-launch is mostly spent on things that aren’t product.
Building landing pages, debugging analytics so you can tell whether anyone actually cares, fighting bots on signup forms, solving email deliverability, deciding what to cut from v1, writing and rewriting the same hero statement 12 different ways because nobody outside your head knows what you’re building yet, reorganizing project management when the team outgrows the current setup, and worrying about shit that doesn’t matter like logos and pre-launch branding.
The day you start charging money and have proven pmf is the day your life actually gets simpler.
1
90
Zero trust products will drive the next wave of adoption.
Cryptoors are tired of getting hacked. Tradfiers are tired of getting scammed. Data leaks, identities stolen, IRL details doxxed, wallets drained, getting rugged, accounts locked, etc are all becoming more and more common with AI and minimal accountability. The bar of what users will connect to is getting higher.
Cryptofolio is being built read-only because of this. No need to provide permissions or IRL identifying info. You can sign up with a wallet and pay with crypto if you want.
The best safeguard against bad actors is to have nothing worth attacking in the first place.
4
147
Was discussing crypto marketing with someone from animoca last week. The number one trick for exploding your marketing results? Measure everything.
Every touchpoint with users, community, and investors. Track which produces results and which doesn’t. Map them to your acquisition funnel so you identify problems with reach or conversion in real time. Keep what works, kill what doesn’t, iterate.
Most teams skip this and end up guessing for a year before realizing they’ve been committing their ad spend to the abyss.
Measure everything. Compulsively.
1
82
The person who eliminates dust and unlocks all those wallets with <$1.00 of crypto will solve a billion dollar infrastructure problem.
1
72
Spent the long weekend looking at AI crypto integrations. Most projects just use ai for the easy parts like chat terminals, data summaries, or sentiment analysis.
The hard parts of building anything serious in this space are on-chain data parsing, transaction classification, cross-chain heuristics, cost basis calculations, etc.
So far, I only know one project that’s been working on these. That’ll become @CryptofolioApp’s moat.
2
80