**EDIT: CoinDesk team here. Thanks for participating in our Reddit AMA! If you enjoyed this conversation, BowTiedBull joins us again to speak at Consensus 2023, our annual event next month, April 26-28, in Austin, Texas.** [**Here’s your 15% discount: BTBAMA**](
**Winners for BTB’s C23 tickets are** **Aragon0x** **and vom2r750. DM us your email address to secure your passes.**
DeFi is currently a Xerox copy of financial services. Over time it needs to bring about new ways of doing transactions: 1) streaming money, 2) payouts based on KPIs/performance and 3) achieving all of this without the ability to brick/freeze accounts. Despite the bear market, the only projects that have survived are DeFi, while centralized Ponzis like BlockFi, Celsius and Luna all went to zero.
By building out across all sectors, BowTied Bull can create ways to buy real goods and services with crypto. For example, we already have a BowTiedFarmer who would accept crypto as payment for food and other products (this needs to ramp up over the next several years).
We launched BowTied Jungle because we think there needs to be a bridge between Web2 and Web3 where earning money online will allow for individuals to create income streams that are both crypto- and TradFi-friendly. Currently, we estimate an annual run rate closer to $5 million (our income is not included in this). We’re betting our scale is large enough to attract the highest-quality people within each niche over the long term. You can find an explanation here: [ (top paid crypto Substack)
Why are we anonymous? If you rely on credentials, you would be building a brand based on prestige. If you can build an audience based on your information and content alone this means you’re at or near the top in what you do.
We won’t be offended when people say “You’re just a cartoon” – which is actually the point. It is no surprise the artist Banksy was an inspiration for the style here. It is a lot easier to trust someone who says they have a Harvard degree and worked at Goldman, even if the truth is that they only got the job because their parent was the CEO of a Fortune 500 company. By being anon, we rely 100% on our skills, which is much harder to do.
Equal Opportunity, Unequal Results.
Ask us anything.
BTW, we were on CoinDesk’s Most Influential 2022: [
Note: As part of the Q＆A we will be giving away two passes for Consensus 2023 [(where we’ll be speaking)]( to the users with the most upvoted comments during the Q＆A. These are *in person* tickets, each at a $1,499 value. If you want to be considered, place the phrase (can make it) after your question.
44 thoughts on “Hi, we’re BowTiedBull, an anon group of Ex-Wall Street bankers and software engineers aiming to build a decentralized nation-state. Ask us anything.”
Hey Bull – thanks for hosting this, had a few questions (can make it):
1) The jungle often says Banks are Zeroes, and I agree – but what additional steps need to be taken (infrastructure, security, UX) to ensure that crypto has *stickier* adoption widely and people increase their on-chain footprint? The reflexivity of the asset makes it such that people enter in waves, but what are some additional steps (such as account abstraction) that are necessary to push for sustained adoption?
2) What are some of the verticals of “real world assets” (emerging market credit, agro-financing, on-chain treasuries, regenerative finance, etc) you think we will likely see being adopted in the next adoption cycle / bull market? Which have strong infra to onboard users and meme-like culture to be marketed widely?
3) Since you’ve been around for way longer, what do you think are the reasons behind the lag in Cosmos’ adoption? Always found it fascinating how Ethereum and some L2s have taken ideas (PoS, communication layer<>IBC, shared security<>meshed security) from Cosmos’ existing tech or their roadmap, but how Ethereum dominated the execution game. Just wonder if you had thoughts on this. Looking forward to hearing from you all.
You’ve helped me more than anyone in my entire life. No question, just wanted to say shit bitch you iz fine
What inspired the creation of The BowTied Jungle, and how did the idea of building a digital country come about? Did a particular life event send you in this direction? The idea made sense to me once I read The Network State from Balaji, it seems BtB was even ahead of times. (can make it)
Given your belief in defi, how long do you think it will be before bitcoin and eth will be used by the mainstream market? (I’ll be able to buy groceries with crypto)
I want to build systems/companies that use crypto to make better contributions irl. Rewarded recycling, create a way of giving bonuses to people in society that need the most help (emergency services, teachers etc), reward business owners for making better ads and so on. Can you give me advice on what I would need or what I should prepare for as these are difficult things to achieve in a sustainable way? Thanks (can make it)
What will be the impact of chatGPT on the macro workforce over the next 5, 10 and 25 years? (Mass unemployment? Etc) How would you position yourself now to ride this AI wave for financial gain? Thanks! (Can make it)
Hey BTB, premium sub here and you’ve changed my life. Questions
1) what is the biggest black swan event that could jeopardize degen island 2035?
2) any tips for identifying talent? You seem to be a able to identify talented cartoons across domains you don’t know cold.
(can make it)
Best channel / video or book that would be digestible for a complete newbie into the defi/ web 3 space.
How do you see traditional nation states trying to counteract digital nation states? Presumably some traditional states will try to become digital state friendly? But more would not be so friendly?
Any tips for fixing unending procrastination and slacking off to the point that it has ruined multiple tech jobs and cause inability to start WIFI money?
So it looks like the CBDC is going in full effect. How do I prepare for this affecting my projects and the crypto market?
Can you tell us when you think the bottom is in for Bitcoin on Twitter or substack please thanks love you
What would you say to Jerome Powell if he came to you for advice? (Can make it)
Whatever you do, don’t buy inu
What’s a niche you want to see in the jungle?
The Jungle is absolutely phenomenal, it reminds me of old war games.
High level players devouring each other to get better in an exciting way.
No questions for now thx
Bull, could you share your approach to working out the truth and breaking free from the “matrix”?
With so much biased information, hidden agendas, and distorted perspectives in the media, how do you build an independent thought process to accurately judging things?
For instance, eating bugs are good, China’s is an aggressor due to Taiwan or the portrayal of Trump as a poor president. These might be true or false, my question is how do you develop an independent thought process to gauge what’s the truth? (can make it)
Another final question. How did you guys (BTB) meet each other? Childhood friends, former work colleagues, ex-marines?
Hey Bull, at what year do you think normie lemmings will accept crypto? 2023?
1) What’s your framework for prioritizing tasks?
2) What’s your current morning routine?
3) Any tips for time management?
What’s your opinion on finding people to work with/hire in web3? Should I just use ChatGPT? (Can make it)
How can I use this bear market to my advantage to build something in defi? Also, what timespan would you say I should have to capitalise in this time?
Best financial advice to prepare for the inevitable banking collapse? IYKYK. Banks are zeros.
How do you feel about quantum computing’s potential impending ability to erase the ability to be pseudonymous on the blockchain
Hey! In such a volatile market is it better to profit off violent swings or keep a long term mindset since everything is on discount
R u bullish rn?
How do you envision scaling the Jungle to engage a broader audience, given that many people are still unfamiliar with the true potential of crypto beyond platforms like FTX and trading BTC?
Additionally, how do you picture the daily running of the jungle work (Is it going to be like a DAO where each user gets a governance vote (sort of like a libertarian approach))?
Considering most people tend to follow centralised government rules (We are now eating insects after all), will there need to be a significant catalyst to drive mass adoption of a network state? (can make it)
Bull I have gone down the deep rabbit hole with you since 2019. And it’s been the best few years of my life. What is the implications of all the banks collapsing in regards to crypto?
Who is the most insane member of the Jungle, and why is it @BowtiedFawn?
What excites you the most about this digital nation state now compared to when it first started to take shape?
Where is degen island? Singapore or PR? You recommend living in NYC, Miami, Dallas, but do you recommend these islands if you want to make it as a crypto investor / entrepreneur? Thank you (can make it)
Here from Substack, been following since December and the content in there is worth every Penny.
Q1: Banks have been the trusted foundation for many for so many decades, they collapsed in the past but their frequency has increased in the recent times. with electronic coins adoption on the rise, what is the scope of blending these with RWA(Real world assets)?
Q2: I know whatever you’re going to say is NFA.
I know you always suggest to do taxes correctly and not overlook it. But how does a crypto maxi can do these taxes if their tokens are spread across multiple defi protocols by using the modern day staking and yield farming and going through 1000’s of txns over a period of an year?
Any services or suggestions to proceed in this tax sector?
Q3: How do you calculate these jungle revenues? Is it like adding revenues from individual jungle members or does jungle have its own treasury onchain?
(can make it)
Where do you differ philosophically with David Deutsch, author of The Beginning of Infinity?
What’s the next big thing outside of defi?
At what point timing-wise would you look to go long stocks, and what events are you looking for in the coming months to give you signposts to get long?
And which sectors? (Like oil stocks, mining companies, companies with strong pricing power like tobacco, typical inflation play sectors, or what else, etc)
Is there a new meme coin in town?
Is there a niche that the Jungle is missing? (can make it)
Newbie here. Which major country will be the first to mass adopt Bitcoin? and When? How do I prepare for a DeFI world apart from buying crypto, learning about DeFI and educating myself? ( can make it)
After what’s going on with the banks now, should I ramp up my bitcorn purchases?
What’s the best advice or framework for someone trying to trade crypto with a small portfolio?
How much damage could overzealous regulators like Gensler do to crypto on-chain, given that many projects are nothing more than immutable code?
Other ecommerce, what’s the best type of wifi money business to start? (can make it)
With the fall dominoes wrt to banks in the US & now concerns regarding CS, what do you think the second order effects of it will be?
Also, regarding CBDC’s do you think will the governments go the incentivise route rather than the enforce route?
Do recent bank collapses make outlawing crypto less likely? Understand it will probably mean tighter restrictions, but do you think it’s likely they outright ban exchanges or moving coins into cold storage any time soon? I’ve heard Balaji discuss sanctuary states in the U.S. for crypto. Would these actually be an effective way to combat restrictions or would Federal government be able to work around that if significantly motivated? (can make it)
How do you suppose crypto can achieve true decentralization w/o any dependency on banks?Is it possible?isnt there always a need for on ramps with sovereigns always have control of fiat or CBDC type construct.