Insilico Terminal Podcast Episode 15 - Satsdart

In this episode, we explore a trader’s journey from discovering Bitcoin during COVID to navigating the “up-only” phase of the bull market - and the hard reset after getting wiped in May 2021. He shares how rebuilding with strict Excel tracking restored discipline, lessons from Snowbank and Snowdog, and why publicly sharing trades shifted from community to extraction. We revisit the FTX collapse in Lisbon, discuss why most of his profits come from Bitcoin perps, and break down seasonality, ETH’s failed hedge narrative, and the current state of on-chain perp DEXs versus CEXs. The conversation closes with thoughts on today’s choppy markets, Solana vs. Ethereum, staying grounded, and the importance of actually taking profits.

00:00 Inro, discovering Bitcoin YouTube during COVID, and the initial transition into crypto, navigating the "up only" phase of the bull run. 

10:15 Getting zeroed in May 2021, rebuilding via strict Excel tracking, and the stories of Snowbank and Snowdog. 

15:50 Why sharing trades publicly shifted from community building to extraction, and the pressure of managing followers' expectations. 

20:30 Witnessing the FTX collapse while with other traders in Lisbon, and finding opportunity in peak fear. 

25:00 Why 70% of his profits come from Bitcoin perps, utilizing seasonality, and why ETH has failed as a hedging instrument. 

32:15 A look at the current state of on-chain perp DEXs, and why centralized exchanges still offer a superior edge. 

36:00 The current "boring" state of the market, the Solana vs. Ethereum dynamic, and avoiding the "all-in" mentality during chop. 

41:20 Staying grounded despite wealth, the importance of self-judgment over judging others, and the necessity of actually taking profits.