156 - Investing in Waves with Chris Burniske
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 30 January 2023
⏱️ 101 minutes
🧾️ Download transcript
Summary
✨ DEBRIEF | Unpacking the episode:
https://shows.banklesshq.com/p/debrief-chris-burniske
------
✨ COLLECTIBLES | Collect this episode:
https://collectibles.bankless.com/mint
------
Chris Burniske is Co-Founder of Placeholder VC, author of “Crypto-Assets,” and mentor to both David and Ryan. This is Chris’s third appearance on Bankless. He was first on three years ago for episode #20!
Investing in waves. Are we talking about surfing? Are we talking about capital deployment? The answer is yes.
In today’s episode, Chris unpacks why he uses the term “trashy” to describe many 2022 projects (and their founders), why crypto is like surfing and how you catch a good wave, his rules for staying sober during bull and bear markets (hint: don’t fall in love with your coconuts), and finally his bull case for Solana.
------
📣 Crypto Tax Calculator | Free Crypto Tax Calculator
https://bankless.cc/CTCpodcast
------
🚀 JOIN BANKLESS PREMIUM:
https://newsletter.banklesshq.com/subscribe
------
BANKLESS SPONSOR TOOLS:
🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE
https://bankless.cc/kraken
🦄UNISWAP | ON-CHAIN MARKETPLACE
https://bankless.cc/uniswap
⚖️ ARBITRUM | SCALING ETHEREUM
https://bankless.cc/Arbitrum
🚁 EARNIFI | CLAIM YOUR UNCLAIMED AIRDROPS
https://bankless.cc/earnifi
------
Topics Covered
0:00 Intro
6:46 Crypto Assets
12:43 Right 2 Years Later
16:00 Wrong 2 Years Later
19:35 What Makes a Project Trashy
22:12 Psychological Perspective
26:33 Thesis Driven
30:00 Super Cycle Narratives
37:20 Market Timing & Advice (NFA)
47:25 Bull Market Indicators
54:30 Is the Bottom In?
57:53 What Ends the Bear Market?
1:01:17 The Crypto Repeat Story
1:08:00 BTC vs. ETH vs. SOL
1:18:54 The Solana Pitch
1:29:34 How to Approach Solana
1:36:51 Predicting SOL Value Accruel
1:41:35 The Solana Opportunity
1:46:18 Is Crypto a Net Good?
1:52:22 Action Items & Disclaimers
------
Resources:
Chris Burniske
https://twitter.com/cburniske
The Ethereum Opportunity
https://youtu.be/oG3CUT9kziE
Electric Capital Developer Report
https://github.com/electric-capital/developer-reports/blob/master/dev_report_2022.pdf
-----
Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures
Transcript
Click on a timestamp to play from that location
| 0:00.0 | When I'm looking for a spot to surf on any given day |
| 0:02.5 | I'm always looking for the best spot that has the fewest number of people |
| 0:06.2 | Because I'm not going out there to compete with other people |
| 0:10.2 | I'm going out there to ride a wave and I think that you can draw a parallel to how I invest and help place |
| 0:16.2 | Well, they're in best in that we're not so much in competition with other funds |
| 0:19.6 | We're not so much in competition with the leaders of these ecosystems |
| 0:23.2 | We want to be intellectually drawn to certain projects in certain value sets |
| 0:27.7 | And we want to ride that wave with that ecosystem |
| 0:33.5 | Welcome to bankless where we explore the frontier of internet money and internet finance |
| 0:37.6 | This is how to get started how to get better how to front run the opportunity |
| 0:41.0 | This is Ryan Chong Adams. I'm here with David Hoffman and we're here to help you become more |
| 0:46.5 | Bankless guys the episode title investing in waves. Are we talking about surfing? We're talking capital deployment |
| 0:52.8 | The answer to that question is yes |
| 0:54.8 | David and I are chatting today with one of our favorite crypto investors of all time Chris Bernisky a few takeaways from this episode |
| 1:02.6 | Keep track of him number one Chris uses the term trashy to describe many 2022 projects |
| 1:08.2 | Why did he use this word and he means it? He also describes uses that word to describe their founders |
| 1:12.7 | Number two why crypto is like surfing and how you catch the best waves number three |
| 1:17.9 | We talk about the advanced warnings in 2021 that we should have all seen that crypto was in a massive bubble |
| 1:24.9 | Number four Chris's rules for staying sober don't fall in love with your coconuts |
| 1:29.4 | You have no idea what that means. That's why you should listen this episode |
| 1:32.6 | Number five the current crypto market cycle why Chris has suddenly aflipped bullish |
| 1:37.9 | He's bullish now in 2023 and finally we discuss Chris's bull case for |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Bankless, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Bankless and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.