Crypto Vibe | August 2023 | BTC, ETH and BCH Focused

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1 year ago

Topics: Coins To Buy, BCH, BTC, ETH, Moons

Disclaimer: This looks like financial advice, doesn’t it? You look at it from the right, it looks like I am pushing you to do what is written in the article. If you put your head down and think, you may be convinced that this indeed is financial advice. If you close your eyes, it may seem logical to do what is in the article.

Even then - Do Your Research! This is not financial advice! 😊

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The Coins And Tokens I Was Focused On | August 2023

The month has come to an end pretty quickly. I guess it’s a matter of perspective. One thing I can’t understand nor am I going to advocate is the shiny graphs with pointy lines (pointy lines have been pointing downwards, lately). I guess, I have not given it enough time, but as an engineer, it is difficult for me to sum up human emotions in a graph and then stoke human emotions further to buy or sell. I mean, how do we look at a graph and say that people are going to buy (usually it is FOMO) or sell (usually it is FUD)?

Emotions and Statistics?? Hmm… maybe I should give it a look. Or maybe not.

Anyway, to our discussion.

The Primary Focus Was BTC

Somehow, I miss the point of all the worry over Bitcoin price not shooting past $64,000. It is here, wherever it is, accumulate it!! Arrgh, you definitely don’t need rocket science to know that.

The only logical news was our friend, Gary Gensler spooking the U.S. crypto market (which is one of the largest) and therefore, the reluctance of investors and traders to invest. Then there is the never-ending love story between Russia and Ukraine, not to mention macroeconomic factors that would make the ghosts of the 1929 Great Depression wonder why they gave their life in the wrong century.

Anyway, since I am practical, I kept putting my money behind BTC. I am happy that my holding in just one month, August 2023, has doubled. So, I got twice the amount of BTC that I held. And from my FTX learning, all the BTC found their way into my wallet. 😊

Oh, you want proof of that, heh? Sorry, you’ve got to take my word for it. I am quite happy with this development, and hence, I am coming to write about it.

Then There Was ETH and BCH

ETH

Whether you love it or hate it, or love to hate the gas fees, you’ve got to admit that ETH transaction prices have improved drastically. The only logical thing that bothers me is its infinite supply. For the last two months, ETH had entered a deflationary phase, wherein there were more ETH burned than those added to the supply. However, August briefly saw a trend reversal where ETH did become inflationary and there is a bit of a see-saw between deflation and inflation. Is it a good coin still?

Based on the apps and developments on Ethereum, it still has value and a lot of it. Strangely, it’s nearly a decade and a half since Bitcoin broke cover, and yet, for a long time, it was the ETH’s smart contract that was spoken about. You have to give that to ETH. So, for this and many more reasons, ETH remains one of my focus cryptos.

My kitty has grown by just 20% over the last month. Not much to show here vis-à-vis Bitcoin.

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BCH

In my opinion, if we are not collecting BCH, we are losing out on something big. I mean, it is the same chain as Bitcoin, the same amount of supply, and virtually easier and faster to transact than Bitcoin. Okay, don’t look at Lightning Network at the moment, but everything else tells me that BCH is the actual Bitcoin transaction coin of the future. I can debate this forever, but you have to admit that I make sense.

Anyway, since I am not going to take the influencer's path and ask you to buy BCH, I will go with what Satoshi Nakamoto would say – “If you aren’t convinced, I am not going to convince you. Sorry, no time.”

Alright, that’s not verbatim, but you got the message.

There were many more.

What More?

Well, there were *Moons of cc sub-Reddit, Donuts of eth sub-Reddit, and bricks of Fortnite* and I think these were some of my best time investments for the returns on Reddit. Trust me, I also go to other subs than these. I don’t even remember when I last went to the Fortnite sub, but I do remember when I went to the F1 sub. 😊

Then there are a few others like (I like, but you may not like), Shib, Doge, Floki (yeah, I have that), and RichQuack (I know you laughed. How dare you?).

But then there are also Matic, ADA, 1Inch, ETHClassic (yeah, bought that too), Bone, and a lot more. So, I haven’t done anything in this category of tokens and coins in August. The only ones that rose in value and number were the Moons, Donuts, and Bricks.

Well, that was it for August. I hope I have inspired you to avoid those fancy charts and use your God-gifted brain for investing. If not, don’t worry, the crypto world will eventually teach you. 😊