Compilation of the best GCR nuggets

If you managed to get to my blog, there’s a strong chance you know who GCR is, but I’ll shortly introduce him anyway :

He’s an anon trader who got a lot of attention during the 2021 bull run, mostly because he seemed to nail absolutely every move. What was even more impressive is that his most famous trades were on the short side of parabolic assets, and that he trades with size (so he was able to flex multimillion PnL on several trades that appeared very risky).

For example, he publicly shorted the tops of $DOGE in May 2021, $SHIB and then the metaverse coins in November 2021 (peak bull run), and also $LUNA in 2022 before its collapse (he got in the $10M bet with Do Kwon).

GCR is now probably the most worshipped trader on CT, which also means that he’s way less vocal than during the last bull run about his positions and opinions, but you can still scroll through his timeline to see all his past tweets. That’s exactly what I did, and I think a lot of his takes are really worth being bookmarked and reread regularly.

As I already did the job of saving his best nuggets for myself, I might as well share them in a public article, so here it is. Below, you will find a list of screenshots of his most insightful tweets, with embedded links to the tweets.

Some of his alpha concentrated in a few bullet points :

• Round numbers are Schelling points, ie either a potential support or resistance, especially when there’s no rationale for the valuation.
• Low unit bias has a gravitational power on retail : why would you buy less than a 10th of a bitcorne when you could own millions of dogcoins (… that are 10000X from $1) ?
• Don’t short micro / small-caps : if GCR follows this rule, you surely should do it too.
• What is strong tends to remain strong, and vice versa. Cutting your winners to add to your losers is a bad strategy, and you would usually be better off doing the opposite.
• From the SNL x Musk show, fading every DOGE pump was one of the highest hit-rate trade you could take.
• GCR edge has nothing to do with drawing lines on charts or any complex strategies, his edge is simply… intuition (yup, not a satisfying bullet point, I know).
• New coins have an advantage over old coins : lots of hope, lack of bagholders.
• The way the market reacts to news gives you a lot of information on the bias (bullish or bearish) and mood of the market participants, and is more important than the truthfulness of the news.
• Cleanse your mind of you peak net worth.
• During alt cycles, you should maximize risk at the the beginning, and slowly reduce it over time, but most people do the opposite.
• Asia / China will fuel the next bull run.
• Bottom is in on both $BTC and $ETH. GCR flipped bullish after FTX debacle.
• Most people that have long-term conviction would be better off holding BTC and ETH rather than trading.
• ETH to $10K is programmed.

NB : GCR initially tweeted from his @GiganticRebirth account, but he has now switched to his @GCRClassic account. You will also find below a few tweets from “MingXMecca”, an ephemeral GCR alt account that didn’t even exist one month long in January 2023.

• Long panic sell from DeFi exploits :

• The way the market reacts to news is very informative :

• “Inverse sell the news event” :

• Never short micro to small caps :

• Intuition is the best edge :

• Low unit bias effect has gravitational power on retail :

• Cleanse your mind of your peak net worth :

• DOGE is the easiest coin to trade by fading the catalyst-driven pumps :

• Why take profit on shorts :

• A short can be a trade or an inverse investment :

• The future of NFTs :

• Hard round numbers are Schelling points :

• Rotations and copycats :

• Fading Elon Musk inspired DOGE pumps :

• Do not try to catch knives :

• Gaming the airdrop chart pattern :

• Go all out in networking :

• The famous “decentralized casino” thesis :

• News trading :

• Relative strength or weakness to equities is often a laggard effect :

• GCR shorted the picotops of some of the craziest pumps :

• Bet on unit bias :

• The advantages of new coins :

• China and Asia will fuel the next bull run :

• Strong tends to remain strong :

• The “low float thesis” :

• Inverse supercycle :

• Best performing coins with worst tokenomics :

• Winners win and losers lose :

• Crank up risk at the beginning of an alt cycle :

• Best indicator to know how much juice is left in an alt season :

• Spot long-term bags :

• Study 2019 and 2020 :

• ETH at $10k one day is programmed :

It's probably important that images look okay here by default as well:

What if we stack headings?

We should make sure that looks good, too.

Sometimes you have headings directly underneath each other. In those cases you often have to undo the top margin on the second heading because it usually looks better for the headings to be closer together than a paragraph followed by a heading should be.

When a heading comes after a paragraph …

When a heading comes after a paragraph, we need a bit more space, like I already mentioned above. Now let's see what a more complex list would look like.

• I often do this thing where list items have headings.

  For some reason I think this looks cool which is unfortunate because it's pretty annoying to get the styles right.

  I often have two or three paragraphs in these list items, too, so the hard part is getting the spacing between the paragraphs, list item heading, and separate list items to all make sense. Pretty tough honestly, you could make a strong argument that you just shouldn't write this way.

• Since this is a list, I need at least two items.

  I explained what I'm doing already in the previous list item, but a list wouldn't be a list if it only had one item, and we really want this to look realistic. That's why I've added this second list item so I actually have something to look at when writing the styles.

• It's not a bad idea to add a third item either.

  I think it probably would've been fine to just use two items but three is definitely not worse, and since I seem to be having no trouble making up arbitrary things to type, I might as well include it.

After this sort of list I usually have a closing statement or paragraph, because it kinda looks weird jumping right to a heading.

Code should look okay by default.

I think most people are going to use highlight.js or Prism or something if they want to style their code blocks but it wouldn't hurt to make them look okay out of the box, even with no syntax highlighting.

Here's what a default tailwind.config.js file looks like at the time of writing:

module.exports = {
  purge: [],
  theme: {
    extend: {},
  },
  variants: {},
  plugins: [],
};

Hopefully that looks good enough to you.

What about nested lists?

Nested lists basically always look bad which is why editors like Medium don't even let you do it, but I guess since some of you goofballs are going to do it we have to carry the burden of at least making it work.

1. Nested lists are rarely a good idea.
   • You might feel like you are being really "organized" or something but you are just creating a gross shape on the screen that is hard to read.
   • Nested navigation in UIs is a bad idea too, keep things as flat as possible.
   • Nesting tons of folders in your source code is also not helpful.
2. Since we need to have more items, here's another one.
   • I'm not sure if we'll bother styling more than two levels deep.
   • Two is already too much, three is guaranteed to be a bad idea.
   • If you nest four levels deep you belong in prison.
3. Two items isn't really a list, three is good though.
   • Again please don't nest lists if you want people to actually read your content.
   • Nobody wants to look at this.
   • I'm upset that we even have to bother styling this.

The most annoying thing about lists in Markdown is that <li> elements aren't given a child <p> tag unless there are multiple paragraphs in the list item. That means I have to worry about styling that annoying situation too.

• For example, here's another nested list.

  But this time with a second paragraph.

  • These list items won't have <p> tags
  • Because they are only one line each

• But in this second top-level list item, they will.

  This is especially annoying because of the spacing on this paragraph.

  • As you can see here, because I've added a second line, this list item now has a <p> tag.

    This is the second line I'm talking about by the way.

  • Finally here's another list item so it's more like a list.

• A closing list item, but with no nested list, because why not?

And finally a sentence to close off this section.