Cobie, co-founder of Lido and UpOnlyTv, and Chris Burniske, partner at Placeholder Ventures, talk about surviving a crypto bear market, the Terra collapse, lessons they’ve learned from their mistakes, and much more. Show highlights:

• whether Chris and Cobie think crypto is in a bear market
• why Chris says these are the times to buy
• what effect the Terra debacle will have on the crypto industry
• why Chris was expecting UST to blow up
• why Chris thinks there is going to be another massive liquidation event
• whether an algo stablecoin could work
• why bear markets are sometimes a good thing
• how USDT was stress tested and proved its resilience
• how macro is affecting the crypto space and what the role of the Fed is
• when will we see the bottom of this bear market
• how meme coins are the symptoms of a broken system
• why this crypto cycle is different
• whether regulations are helping VCs rather than the retail investors
• why risky assets are the ones that could increase 10,000x
• whether the future of crypto is multichain or not
• how developers signal what ecosystem is going to win in the next expansion cycle
• whether Cobie thinks staking is dying
• how Chris judges market bottoms and tops
• what lessons Cobie and Chris have learned from their mistakes
• what innovations will catalyze the next bull cycle
• what needs to happen in the future for crypto to succeed

Thank you to our sponsors!

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Episode Links

Cobie

• Twitter: https://twitter.com/cobie
• UpOnlyTv: https://uponly.tv/
• Substack: https://cobie.substack.com/
• • L1 trading: https://cobie.substack.com/p/trading-the-metagame?s=r
  • Death of staking: https://cobie.substack.com/p/apecoin-and-the-death-of-staking?s=r
  • Token unlocks: https://cobie.substack.com/p/on-the-meme-of-market-caps-and-unlocks?s=r
• Cycle Tweets:
• • Why “the next cycle” reasoning scares him
  • • https://twitter.com/cobie/status/1524965475813568512
  • What projects will survive the bear
  • • https://twitter.com/cobie/status/1469253171885318146
  • His call to “buy” on March 12 2020
  • • https://twitter.com/cobie/status/1238282793244860417
  • Which VCs will win
  • • https://twitter.com/cobie/status/1515667977118826500

Chris Burniske

• LinkedIn
• • https://www.linkedin.com/in/burniske/
• Twitter
• • https://twitter.com/cburniske
• Previous Unchained episode
• • https://unchainedpodcast.com/chris-burniske-a-blank-slate-of-state/
  • https://unchainedpodcast.com/chris-burniske-of-placeholder-on-the-downsides-of-icos/
  • https://unchainedpodcast.com/want-to-diversify-your-portfolio-try-bitcoin-say-arks-chris-burniske-and-coinbases-adam-white/
  • https://unchainedpodcast.com/how-to-value-a-crypto-asset/
• Cycle Tweets
• • Feb 2022 bear call
  • • https://twitter.com/cburniske/status/1495468570708426754
  • March 2022 bear call
  • • https://twitter.com/cburniske/status/1523021991619428352
  • November 2021 top call
  • • https://twitter.com/cburniske/status/1457884538806308868
  • DCA advice
  • • https://twitter.com/cburniske/status/1525906152881459200
    • https://twitter.com/cburniske/status/1500593438433021952
  • What could knock the market further down
  • • https://twitter.com/cburniske/status/1525157945079496705
    • https://twitter.com/cburniske/status/1524260987787902978
  • 2017 ATH calls
  • • https://twitter.com/cburniske/status/1524838447784947712
    • https://twitter.com/cburniske/status/1524524188366635008
  • Trying to time the bottom
  • • https://twitter.com/cburniske/status/1523573129431240710

Chris x Cobie

• Luna
• • https://twitter.com/cburniske/status/1524280637431164929
• Feeling sorry for people who have lost $
• • https://twitter.com/cburniske/status/1524267901456248832

Bear Market Content

• Dragonfly
• • https://medium.com/dragonfly-research/to-all-dragonfly-founders-and-friends-1a65e68093d4
• Sequoia advice
• • ​​https://twitter.com/michellebailhe/status/1526373376142348288
• Arthur Hayes
• • buying BTC at $20K in wake of Terra
  • • https://entrepreneurshandbook.co/luna-brothers-inc-712ec5abe199
  • Financial comeuppance
  • • https://cryptohayes.medium.com/annihilation-4effdaf3c73f
• Paradigm (surviving crypto cycles)
• • https://www.paradigm.xyz/2021/03/surviving-crypto-cycles
• Zhu Su on being a better role model for retail
• • https://twitter.com/zhusu/status/1525045033216397312
• Nick Tomaino on stopping relentless shilling
• • https://twitter.com/NTmoney/status/1525234408910987264
• Lot’s of talk about “suicide” in context of LUNA
• • https://bitcoinist.com/luna-investors-suicidal-after-cryptos-collapse/
• Helping smaller LUNA wallets first
• • https://twitter.com/VitalikButerin/status/1525561624974700545
• Punk6529 on surviving the bear market
• • https://twitter.com/punk6529/status/1525565876711444484
• Ian from Syndicate DAO on previous cycles
• • https://twitter.com/ianDAOs/status/1524613312582799360
• Best website for looking at token performance
• • https://cryptorank.io/performance

Chris Burniske:

• Twitter: https://twitter.com/cburniske
• Placeholder VC: https://www.placeholder.vc/

Previous Unchained Coverage on Terra

• Nic Carter, Erik Voorhees, and Eric Wall on the collapse of UST
• • https://unchainedpodcast.com/why-terra-collapsed-and-whether-an-algo-stablecoin-can-ever-succeed/
• Do Kwon on backing UST with BTC
• • ​​https://unchainedpodcast.com/do-kwon-is-backing-ust-with-bitcoin-and-heres-what-else-he-is-building/
• Kevin Zhou on the risk of UST’s death spiral
• • https://unchainedpodcast.com/heres-why-usdn-depegged-from-the-dollar-and-why-ust-might-too/
• Jon Wu on how Terra got depegged:
• • https://unchainedpodcast.com/did-someone-deliberately-attack-terra-luna-to-kick-off-a-death-spiral/
• Do Kwon on The Chopping Block
• • https://www.youtube.com/watch?v=0xl8u7-KVwM