Bitcoin Is Venice: A New BTC Classic
A New Book
I'm excited because I've just gotten into a new book that is becoming quite the page turner. "Bitcoin Is Venice" by Allen Farrington and Sacha Meyers seeks to draw parallels between the disruptive nature of the Venetian markets of pre-Renaissance Italy and Bitcoin of today's economy.
A lot of the time when I read books that focus on history, notably political or economic history, they tend to be quite dry in my opinion. A lot of times, authors seek to impress the reader by using unnecessarily academic language and diving into too much specific detail about the historical event rather than getting to the point. So far as I have been reading this book, I have found it to be almost the opposite.
The authors of this book are making points and immediately backing them up rather than dragging it out for the purpose of appearing academic or intellectually superior. They actually concede that much of the scope that is Bitcoin is out of their personal understanding. What they do instead is take what they know for a fact and show the reader straight up why that is so.
Bitcoin Magazine Recommended
I ended up spending a decent amount of money to buy a paper copy of this book because it is currently being recommended as one of the best reads in the industry. I have been following Bitcoin Magazine for a while, and though I don't always agree with what they say, they do a pretty fair job of showing the climate of Bitcoin and how the world is currently reacting towards it, so I took their recommendation on this one.
Bitcoin As A Disrupter
I think that it is clear that throughout history there have been inventions that completely changed the way the world operates. Automation, language, technology, financial concepts and more have been created and implemented into society to help us progress to where we are today. The authors of this book, and myself believe that Bitcoin will serve to be one of the greatest economic disruptions in world history. Whether or not Bitcoin becomes the payment system it was originally intended to become is beyond me, but I truly believe that it has started a movement of innovation that will carry us into the next generation of finance and change the way that money works forever.
I'll give an update on how the rest of the book is, but as you can probably tell I am pretty excited about it!
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**Who I am:**
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Delete Your Portfolio Tracker
Set It And Forget It
I have been writing a bit about how looking at things heading towards the red can be a bittersweet process. On one hand you are getting another buying opportunity, but on the other hand, your investments are losing dollar value.
One way that I have really cleaned up my morale about this continuing situation has been deleting my portfolio tracker from my phone. Whether you use Coinmarketcap, Coingecko or something else, a lot of us have put a copy of our transactions into an aggregator like this to track the current value of our portfolio. This again presents a dual-edged sword as you can easily know your cryptocurrency portfolio value, but it can also become something that you will easily obsess over and constantly refresh.
One aspect of my past gambling endeavors that has leaked into my investment efforts has been the need to constantly know what is going on and seeking to have control over the situation despite the fact that controlling external events like market price or the score of a game you don't play in is impossible. It becomes easy to compulsively check a portfolio and grimace or breathe a sigh of relief at the value you see.
I have found that since deleting my portfolio aggregators (note: not deleting the wallets, simply the tracker), I have found myself checking coin values much less often. I'd be willing to say that it cut in half the amount of time that I spent looking at price.
Why Does This Matter?
If you have a long term investing strategy like I do (not wanting to sell until at least 2025) it is actually irrelevant what the current value of your holdings are. It is of course important to know if major events are happening regarding your holdings like we just saw with LUNA, so that you are able to cut your losses when crap hits the fan, but for most projects it just adds stress and FUD.
Personally, the more I look at the value of my portfolio, the more inclined I am to make decisions that may not benefit me long term. If I see a token is dipping a bit (even if from pure market movement with no catalyst) I may be inclined to sell it off and purchase a different asset. Nothing good usually comes from impulsive decisions, and tracking your net worth constantly is a dangerous game to play as it leads to only compulsive actions when done too often.
I think that it is a nice thing to have at your disposal to know where you stand financially, but it is not worth the negatives that come along with it to constantly be worrying about dollar value. I will probably try to check my portfolio value once or twice a month rather than 10-20 times per day and hope that this allows me to gain insights into performance without inspiring compulsive action.
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
Anyone Investing In Tezos?
I'm looking at opening a small position up in a token called Tezos. I have obviously been hearing about Tezos for a while as it has been a pretty big-sized altcoin for a while, but I have never really taken much of a deep look about what it does/seeks to accomplish in the future.
What Is Tezos?
Tezos is another web 3.0 blockchain that seeks to provide a space for the creation/implementation of smart contracts. It looks to be a really useful protocol that is somewhat similar to Hive (though I couldn't name a single Tezos DApp off the top of my head). It focuses on scalability with easily adjustable transaction fees.
I know that they sponsor a lot of teams around professional sports to try to spread their name including Manchester United and the Yankees (two giant market teams).
As I've said in the past, I don't think that there needs to be one blockchain to rule them all. I think that in the future there will be ways to instantly bridge between a few successful blockchains seamlessly and thus web 3.0 should be less focused on competition and more on synergy and interoperability. For that reason, I don't see Tezos as a competitor, but as another way to get people onto web 3.0.
What Do Analysts Think?
Analysts are wildly bullish on Tezos, which is what actually got my attention to begin with.
I have seen the average 2025 estimate looking to be somewhere around $8-$10 with prospects of reaching upwards of $70 (!!!) by 2030. Of course these analyst estimates can't be taken as sturdy financial advice, but it is nice to see the sentiment looking so good around the web for this token.
Imagine getting your hands on a few hundred Tezos tokens and having them 35x-70x in value. That would be crazy.
Have You Invested?
I am genuinely curious to see if other members of the community have invested in this token. It seems to be a pretty promising protocol with a supposedly large backing (and funding), but I don't really hear anyone talking about it. In my experience, the tokens/stocks that nobody is talking about are the one's that yield the most growth potential as it means you are either early (ideal) or late (not ideal) to the party on the token.
Is anyone holding Tezos? If you are, are you taking advantage of staking rewards on any platform for it? I am thinking about just buying some and not staking it, but I could be convinced to do otherwise if the protocol looks promising.
Let me know!
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
Splinterlands Is Looking Like A Good Investment
SPS News
Currently there is a ton of hype about the increase in the APR Splinterlands is delivering on staked SPS. It has almost doubled as they have started to include vouchers in the yield and as I have discussed in the past, there are many opportunities for those vouchers to be useful in the future.
Additionally, they have just done a bunch of work on SPS validator nodes and there has been a few private sales of SPS tokens. Fewer SPS tokens will be released each month now and that should theoretically play a role in supply and demand based price shifts in the value of SPS on the market (who knows, we'll see).
Sitting around 8.7 cents, SPS is down bad from previous highs; however, with the increase in plumbing in the ecosystem and the impending release of new game features (not to mention the land expansion to come), things are looking promising for the token to play a vital role in the ecosystem.
In Game Assets At A Discount
In addition to the improvements in the future for SPS, there are a ton of great deals (in my opinion) in the markets.
A few months ago some cards were trading for 4-5x their current value.
Take for example Kron The Undying:
A few months back, this guy was pushing the $475-$500 range.
Or another example would be the Kraken:
A few months ago this card would be purchased for around $140...
There are so many heavy hitters that are down big. Of course this has to do with new strategies developing, but you never know when you'll be able to use an older card in a wildly effective way. These are two that are on my personal wishlist.
Where Will We See Splinterlands Go?
I think that the sky is the limit for this game. I truly enjoy playing it and believe that there are a ton of things that can logically be done to keep the game exciting and keep delivering value to the ecosystem. I think the team has done a pretty good job with their pace of release as things have changed wildly since I started playing last March, I hope to see that continue and hope that the value will follow!
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**Who I am:**
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Bitcoin - Stability In A Chaotic Market
I saw a report just after the LUNA fiasco that the LFG had sold almost all of their BTC reserve (roughly 40,000 BTC) in order to continue to try to re-peg UST. That means that within just a few days, BTC withstood a huge percentage of it's supply being sold off without crashing completely into the ground. Sure we saw some 5-10% swings, but we didn't see it melt down and hurt millions of holders.
This "stress-test" as it has been called for BTC has shown that things are looking quite solid in the market this cycle. In years past, this type of selling action would have yielded violent swings in price that could have destroyed the entire market if it happened this time. Though the pain caused by LUNA has not been fully realized yet, it is a positive sign that we are still here and BTC is once again climbing above the 30k mark.
I also came across a tweet that said we are at an all-time high for BTC wallets holding at least $300 in them. That is awesome news as the entire purpose of BTC is to become a network for global use and we are clearly seeing more of the little-guys like me getting involved with the ecosystem. I hope to see those numbers continuing to grow even amidst all the FUD caused by the markets right now.
I am personally continuing to stack sats along with some other altcoins and even a few stocks (I've been taking a good look at ARKK and have decided I would like to get involved with that ETF) and though it is not investment advice, I will be continuing to do so on a bi-weekly basis as we move through this bear cycle.
Crypto and risk assets are trading at yearly lows right now and coming off of the rush that was the pandemic recovery era. I am excited to accumulate during this period and hopefully see the dividends be paid when we reach another bull market (hopefully by 2025, though who the hell knows?).
Good luck with your trades today!
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
LUNA Shows Dangers Of Holding On Exchanges
This Luna catastrophe has brought along with it quite a few valuable lessons for investors. Beyond the concept that investing all of your eggs in one basket being dangerous, we have seen a lot of centralized damage control playing out and trapping some users in the process.
Binance
We saw Binance delist LUNA from the perpetual exchange and also freeze up the purchase and sale of LUNA on the platform. With this, it also froze withdrawals for a time and users were pretty much stuck to watch their holdings go up and down in value with no way of selling them off or shipping them somewhere that they could have sold them.
While this may have actually been done with good intentions (i.e. helping people control their risk), it handcuffed users and it brings up that old point of "not your keys not your crypto" as the CEX decided when you could sell again.
Other Exchanges
I heard that this happened on KuCoin in basically the same way. On Coinbase, Luna was delisted and the tokens that I had there are no longer available (though it was very few and not worth whining about). I heard that the same thing happened on UpBit, Kraken, Binance.us and more as CEX's seeked to react to the volatile dumping of a once top-10 cryptocurrency.
This probably could've happened to anyone and it will likely happen again in the future as long as people are storing their crypto on centralized exchanges. I truly believe that the intentions of the CEX's are usually to protect the users, but similar to things that happened with Robinhood during the Gamestop pump, I just think that these decisions should be left for the user to make.
The whole reason that I love cryptocurrency is the fact that responsibility falls on the individual and that financial freedom of movement comes at the cost of the chance that an error could be made. I am willing to take the risks and that is why I don't store my cryptocurrency on exchanges despite the ease of use in doing so.
Be careful where you decide to keep your assets and know the risks of keeping it somewhere that you don't have 100% control over.
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
How Are You Playing The Luna Bottom?
Let me first start off by saying that I thought I was playing the bottom at least 5 times already and will probably be wrong in assuming we are near the bottom again now because I just can't seem to predict what is happening with this token.
I called bottom at $0.47
I called bottom at $0.23
I called bottom at $0.10
I called bottom at $0.01
I called bottom at $0.001
I was wrong all of these times, so don't take my rantings as financial advice as I have gotten destroyed for hundreds of dollars during this drop off.
With that being said, I think we must be somewhere near the bottom now haha. LUNA just pumped 800% and is now sitting at $0.0004093 per token. I was able to get some of that upside probably making around 300-400% on my latest purchase (unfortunately still not even close to recovering in $ amount terms).
I don't know about buying again after a 800% rise in price, but I also just don't know what will happen with news announcements and recovery plans for the asset.
From what I saw last, Do Kwon was releasing a formalized token reimbursement drop for some of the long term holders and there were rumors of the Cosmos chain getting involved in the revival of the asset.
I think that one important factor to think about with LUNA is the fact that there has been trillions of tokens added to the supply in the days after the crash as the most important thing to that team is reestablishing the UST peg. For that reason my decision was to take the profits from my latest LUNA purchase and convert it to UST which is still trading well below it's peg at 18 cents.
My thoughts are that though it is all still highly risky, I would purchase more LUNA if it drops off again and if the team is successful in reestablishing the peg, a purchase of UST right now would more than 5x your return... Don't get REKT by going in big as at any moment we could lose it all, but I decided to make this play because I'm crazy and want to play the wildest event in cryptocurrency history
This was definitely not the type of history I wanted to be involved in, but we can't always choose what tomorrow will bring. So let's smile and keep stacking alts that have been pushed down as a result of the LUNA catastophe.
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**Who I am:**
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Stack, Get Dumped On, Repeat
I believe I have bought the dip 7 or 8 times in the last three days or so. I was liquidated on all my leverage plays and destroyed on all my spot plays (thus far). The good news... There's more dip to buy... The bad news... There will be another dip...
I am trying to keep a positive mindset through it all, but it does start to wear on you when your $100 investment hits $50 just a few hours later. I have been buying more when it hits that low point, but I believe I have exhausted my funds until next Thursday, so I wouldn't mind seeing some stability hit the market at this point.
The buying opportunities are plentiful, but seeing that my portfolio is getting wrecked, the access to capital is something that will be an important lesson from all of this for the next time it happens. Keeping a larger majority of your funds in crypto exposes you to all of the risks that the market poses though it also gives you increased exposure to speculate; I think that my main problem has been lacking the balance between investments and savings.
I saw that Khal posted today about how low the price of RUNE and LEO have gotten and that inspired me to dig deep and get one more buy in for RUNE after buying twice over the last few days and losing big both times, once around $4 and once around $3. I was able to stack, now I hope that it stays somewhere near where I bought it because I am fresh out of cash.
I don't know guys, this hasn't been the best of experiences. I'm not going to give up on it, but it is a bit demoralizing. Keep stacking, never sell...
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
REKT Too Many Times
Image Source https://www.investopedia.com/terms/l/liquidatingdividend.asp
Well here we are everyone. We are getting absolutely destroyed in dollar value throughout the markets right now, and yet I was still feeling confident enough to take some risks.
Here are the three posisitions that I had liquidated just in the last 24 hours:
Went long on RUNE @ 5.65 10x
Went long on LUNA at 29.45 10x
Went long on RUNE @ 4.55 5x
After getting REKT in the two 10x positions, I thought we must have been nearing the bottom so I took a bit of a larger position in RUNE with lower leverage expecting it to be a long term hold as the liquidation point was roughly $3.30... Yet to my absolute shock, we actually found that point as RUNE bottomed this morning around $3.20.
Now I won't make this a sob story because I wasn't using life changing amounts of money, but it does sting to be wrong so many times (so dramatically) in a 24 hour period. I will financially recover from this within a week because I have been more responsible with my risk tolerance as of late, but I do hope that everyone is being responsible playing these markets short-term.
The Character Development
After taking these L's, I have fought off the urge to continue back and chase the losses. Instead, I have made a hefty investment in RUNE, LINK and now am trying to buy LUNA without any leverage. I guess the dream of hitting big on the volatility distracted me from the ultimate goal of wealth accumulation over a long period of time. This morning, I changed that and am excited that though the tokens may still have a bit of downside potential, I won't be getting liquidated and will be able to ride this one out going forward.
I think that the concept of leverage is alluring and that it becomes easy to be distracted from the reality that crypto is indeed volatile enough to liquidate you on a moments notice. This is a space where you need to be on top of your risk and take advantage of the volatility responsible or you're just one trade away from losing it all.
Be careful out there and make sure you are properly balancing your short and long term investments!
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
A Huge Bitcoin Hater
Image Source https://www.google.com/url?sa=i&url=https%3A%2F%2Fmedium.com%2Fcoinscapture%2F7-most-popular-bitcoin-haters-385434424836&psig=AOvVaw3lBQC3jGAPQrfkLEgxY5rl&ust=1652287222058000&source=images&cd=vfe&ved=0CAwQjRxqFwoTCOjQ3s--1fcCFQAAAAAdAAAAABAD
This Bloomberg Article might have been written by a top 5 Bitcoin hater of all time. https://www.bloomberg.com/opinion/articles/2022-05-10/bitcoin-price-what-the-crypto-crash-means-for-investors
I recommend giving it a read if you get the time as it is one of the most cynical takes I have heard on Bitcoin in a long time (maybe ever besides sensationalism posted for satire).
The amount of people who cite Bitcoin for requiring high amounts of electricity and being terrible for the environment is hilarious to me. These same people don't care about the environmental impact of say, the US government or by private corporations. It only in matters when talking about Bitcoin because they want to create FUD in the markets (meanwhile, those same markets are getting torched and the FUD is currently unnecessary haha).
Give that a read and the absurdity of it will hopefully help you smile through this bear market.
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
We're All Down Bad, It's Fine
Monday morning is time to get back to work. #Bitcoin pic.twitter.com/JlufLXRT9W https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw https://t.co/JlufLXRT9W
— Michael Saylor⚡️ (@saylor) May 9, 2022 https://leofinance.io/@saylor https://twitter.com/saylor/status/1523646766549434373?ref_src=twsrc%5Etfw
I saw this tweet this morning and knew that I had to share it on here before the end of the day, it was too funny. The Wojak memes made cryptocurrency investors notorious for working at McDonalds after they took massive losses in the markets and now even someone who is supposed to be the pinnacle of Bitcoin investment has made the concessionary self-roasting joke that we are down huge sums of money in USD.
While this may look bad (and likely will continue to get worse), it presents a nice opportunity for those of us who are planning to continue investing for many years. I saw another tweet today which I agreed with that if you are between the ages of 20-35, this is probably the time of your life that you will have the best opportunity to build a portfolio.
The average American sees around 2 recessions and 1 depression during their lifetime, and though we can't be sure which of the two we are going to see, it is a fact that the markets are currently in free fall. This is looking to be worse than what happened to the markets during Covid as this is being driven by faltering economies and monetary policies rather than a world pandemic we are reacting to. This is the end-product of stimulus and misallocation of tax-dollars paired with massive inflation. Everything is setting up to hurt the middle and lower classes just as it always has and we need to be prepared to make moves with our money in order to not end up getting the short end of the stick during this cycle.
I think that if done right, this period of time (the foreseeable future in my opinion) can yield huge dividends down the road as all assets are looking much cheaper than they have been.
If we see Bitcoin dip below 20k again, I will be making a huge push to get as close to the 1 BTC mark as I possibly can. Though the short-term markets are looking red, we have known the markets to always correct themselves over time and we know exactly what Bitcoin will do in terms of supply in the future. Though price may be rattling the confidence of many, nothing has specifically changed in the cryptocurrency space.
Another upcoming catalyst may be some regulation coming to crypto, but that will present yet another buying opportunity if the price is pushed downwards.
If you believe in the technology, you need to believe that price will inevitably follow. We'll see what happens in the short term, but try to think about what is coming in the next 10-15 years!
Good luck!
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
At Least We Can Laugh - Some Memes For Your Sunday
Image Source https://knowyourmeme.com/photos/1781033-2020-stock-market-crash
I can't say it was a great feeling to buy crypto on Thursday and then watch the markets immediately proceed to tumble 10-15%. At the same time, I am investing every other week at a specific time, so the price at that moment is beyond my control, I am simply sticking with the plan.
I am trying my best to be the guy who says it is ok that the prices are dipping, because in the past I was always inclined to actively trade and sell when things were looking bad and it just made things so much worse.
So rather than going out and looking at the numbers and trying to figure out a way to fix things, I will let the things that are beyond my control be the way that they are and just accept them as they come. Instead of panicking, I am just going to laugh and post some memes about how much we're all getting destroyed (it won't last forever, so let's be patient).
None of these are mine, I'm just sharing them from online.
Good luck with whatever you're doing today!
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
Invest In Knowledge
Image Source https://www.bigstockphoto.com/image-405017018/stock-photo-time-to-invest-in-knowledge-books-with-text-invest-in-knowledge-on-beautiful-white-background-ho
A New Goal
One thing that I have been really on myself recently about is taking the time to read more. I think that going to school for so many years really beat the life out of reading and acquiring knowledge.
I went from someone who enjoyed learning about many different topics to someone who would identify the minimum needed to get by and pursue that.
Well... Now that I am out of a formal educational setting for the time being, I am once again looking to learn more about the world and about topics that I actually care about or believe can improve the quality of my life.
What Types Of Books?
I am currently focusing on books to improve financial and emotional wellbeing as those are two areas where I have struggled over the last few years.
When it comes to finance books, it seems that everyone has their own recommendations as to what will be impactful or beneficial. Ironically, the book that I just read was at it's core about identifying the difference between facts and opinions on the road to educational and financial success. I personally choose books based on the story of the author and what they are seeking to convey through the recounting of that story.
I have just finished the second book of the Rich Dad, Poor Dad series. I chose this originally off of a recommendation, but after I got to reading it became a page turner when I realized that someone of great wealth had come from a regular middle-class upbringing. I hate reading books where rich people are disconnected from the reality of the world, but this one was much different as the author used life lessons to transition from a regular life (even becoming homeless at one point) into being a real estate mogul.
Why Read?
I have been quite focused on increasing my productivity, but some days there really isn't much tangible work to be done on any front. That is a situation where in the past I would find myself watching hours of Youtube or Netflix that became quite a large time-waster in my day. I am trying to make some lifestyle changes with my health and am using reading as a way of using my mental productivity in a beneficial way. Though I may not be out changing the world reading books, I am learning a lot more than I would watching Youtube skits and it is my hope that the knowledge that I acquire will help me when I do go out and try to build a business.
I read a study that said that people who are wealthy typically wake up early and exercise as well as read quite often (CEO's apparently average a book every week). I am trying to do that not necessarily for the sole purpose of becoming wealthy, but rather because I really like the concept of optimizing my time and getting the most out of my days. If I get rich as a result of developing great habits that would be awesome, but the primary goal is to increase the amount of satisfaction I get out of my daily routine.
I am making an investment with my time rather than with my money in the hopes of putting myself on a more productive track. Is this something that you do? I'm curious to know what everyone thinks about optimization and getting on a productive routine.
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
Ignore Short-Term Misfortune
I have written about this in the past, but it continues to hold true, you literally cannot time the market. Every indicator, technical analysis, prediction, stock-to-flow chart, etc. will not help you determine what will actually happen in the market.
I literally feel like every cryptocurrency meme that has ever been made because as soon as I purchase an asset it seems to crash 5-10% haha. Well though it sucks to see the USD value changing in the short-term, I have stopped letting it bother me because I am simply investing based on a plan.
The Plan
The only way to avoid feeling like crap about timing the market as poorly as possible is to make your purchases happen at regular and recurring time periods where you let fate decide. Through this dollar-cost averaging strategy, you are able to purchase assets at a variety of values with the hope of finding a lower average cost over time by buying during the ups and downs of the market. Along with getting a different average cost, this strategy allows you to consistently put funds into that asset and allow your holdings to build steadily over a period of time.
Every other Thursday, I make my investments and watch as the price either immediately dips or ticks up just a few points. It doesn't really matter in the grand scheme of things. What matters is consistently getting that investment in every other week and continuing to do that. If I lose 10% over the course of two weeks, then I am purchasing more at a 10% discount and lowering my average purchase cost.
The people that made the most money during the bull run (other than those leveraged like crazy who got lucky) were those who had been stacking up assets at low prices and watching the value blast upwards over a period of time.
I'm no financial advisor and I am most certainly not rich, but I am in the early days of a strategy that I truly believe will yield great results a few years from now.
Whatever you decide to do, do your due diligence in researching it and make sure you stick with your plan. I wish you all good luck and happy Thursday!
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
Do Your Own Research... But How Much?
Image Source https://thinkingispower.com/the-problem-with-doing-your-own-research/
Intro
"Do your own research"
This is something that we hear over and over again in financial articles, mainly within articles highlighting a specific investment in order to shield the author from blame if they are completely wrong.
Well... How many of us do our own research to a degree that is actually impactful? If an "expert" in a field recommends doing something and you trust their opinion as fact, doing your own research may simply mean finding a few more articles that reinforce your confirmation bias as you look up something like "X price prediction 2025" and see it is supposed to go up.
A lot of people, myself in the past included, are happy to stop there and trust the opinion of others to make them money. Sometimes it does work out as we can assume that over half the material we read is honest and not trying to scam you, but then sometimes we see a Bitboy scenario where the author was paid to hype up the investment and then it gets dumped on you.
I think that it is an important reminder for the community to take a look at the facts of the situation before making any type of financial investment.
Too Little
By trusting the voice of experts to determine your money flow, whether through an official mutual fund or through taking a tip from an influencer, you lose much of your own agency and understanding of the investment.
I just saw an article come across my feed today about making sure you know what you are actually investing in, and as silly as it sounds, you really need to understand what you are buying to figure out how much to buy and what level of risk you are taking on.
One example of me not doing enough research goes back to that Bitboy dig I threw in the introduction. I watched a video that I was unaware was sponsored where Bitboy hyped up a token called MYX Network. After watching the video, I bought $200 of the token. I didn't buy because I understood anything at all about their protocol, I bought because I figured a few thousand other viewers would do the same and the price would pump. I believe I lost $198 on that trade... Not the best ROI.
I don't blame influencers from cashing in on their success. If I had thousands of people tuning into my videos I would do the same thing probably. What I wouldn't do though is completely mislead viewers. I think that one thing that every viewer needs to be aware of is what the technology or investment is actually seeking to accomplish and what the timeline is for that accomplishment to yield dividends on your investment. Hype-based investing is just gambling and sometimes you win big, but often you are the one getting dumped on as these influencers either filled their bags or their sponsors were planning a dump following increased traffic flow from the video.
We all need to be careful and watch for predatory "investment opportunities", it just takes some basic knowledge and thought on what you are getting involved with.
Too Much
I've recently been reading about the "analysis paralysis" where people will actually do too much research and then as a result be hesitant to take a risk. This is the other side of the coin. I don't think that there is an exact science to figuring out how much research to do before making an investment, but it is my personal opinion that once you have a solid understanding of the tech and the timeline, you can begin to assess how much of a risk you are willing to take on your position.
Takeaways
Though there is no exact way to do things, it is safe to say that you should be doing more than zero research and less than 7 days a week 365 staring at the prospectus of the investment.
If anyone has any tips on how much research they typically do on investments and what sources they consult, I would be interested in hearing it!
Good luck on whatever you decide to do today!
Come talk basketball on Dunk Social!
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**Who I am:**
My name is Rob and I am a financial analyst with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience.
RUNE - A Resilient Token
If I had to point to one cryptocurrency that has taken an absolute beating as of late, I would easily say that it was RUNE.
In the last month, we've seen it shed approximately half of it's value in USD, going from roughly $12 to a little over $6 at this point.
At a wider scale, Rune has experienced some crazy ups and downs throughout the last year as well. Not only did it go through the ups and downs of the market at large, but the protocol also suffered a hack and some security issues that sent prices up and down rapidly as good and bad news took turns as time went on.
Rune has seen prices of almost $20 a token in the last year, as well as prices as low as $3.50 a token.
A Reminder
A lot of times when I make a post, I am apt to talk about the USD value of a token or the valuation of a protocol. I have been reminded time and time again that this is not a point to focus on when looking at the long-term future of something. With RUNE specifically, the goal of uniting all blockchains under one decentralized system seems to be the most important goal in all of cryptocurrency in my view. There will be setbacks along the way and the dollar value may not look so enticing at the current moment, but the concept of what is going to be accomplished is revolutionary and world-changing.
If we only believe in things that bring along an enticing dollar valuation, we can be easily manipulated into thinking that one technology is not only more valuable, but more impactful on society than another.
If the THORchain team is successful in developing this protocol and continues to link in every blockchain that they can, RUNE will serve as the glue that holds together an entirely new generation of finance and financial systems.
One of the biggest issues that I see in cryptocurrency is the lack of places where you can easily swap assets between exchanges. Imagine how much of a standstill the world would find itself in if USD could not be instantly exchanged for EURO? The ability to swap currency is vital to the functioning of our world and the economies that power it every day. The same goes for cryptocurrency as more businesses would be apt to use it if they were assured that they could easily swap currencies in order to accomplish their goals.
When I buy into assets, I like to believe in what they stand for and what they are trying to accomplish. Despite a slew of setbacks, RUNE is still here and they are still building something that I truly believe in.
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**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
Cub and Polycub Are Down Bad... Opportunity Of A Lifetime?
I can't say I'm overly happy about the USD value of CUB and Polycub as an investor being down around 60-70% on each token, but on the bright side there are some positives to this situation.
The Positives
Short-Term Price Offers Accumulation Opportunity:
Well we often talk about how the dollar value of a cryptocurrency is relatively unimportant in the short term as we are investing for long term holds... It is true, but of course it still feels tough to watch. At the same time, throughout the history of investing, the gains have been made by those who hold onto their investments through adversity and market fluctuation and continue to average into larger positions.
With prices of each asset nearing (or reaching) all time lows, we are being given an opportunity to average into bigger positions on a much lower cost basis. If you were willing to buy Polycub at 40 cents, you should be thrilled to see it dipping to below 14 cents now so you can stack more (even though you may be down on your previous holdings). You now have the opportunity to add to your position at a 65% discount from that point. If Polycub can deliver on what it promised, you might be looking at one of the biggest sales you'll ever encounter.
We Still Have Our APR
You can still reap huge gains through farming and staking on Cub Defi and on PolyCub. Though the dollar value of the Polycub tokens are down, being able to always earn that yield should be big for morale and you should take advantage of the high yields while possible.
There are also the 'safe' farms that you can invest in such as the new pHBD-USDC farm that is still boasting 27.2% APR. Don't forget about the opportunity to put your funds to work even if those funds reflect a lower USD value than they did last week.
The Plan Hasn't Changed
Regardless of price, the roadmap for these platforms remains the same. Cub Defi is still attempting to be a solid BSC liquidity farming protocol and is actually one of the longest running farms as most of them tend to turn out to be scams. PolyCub is still seeking to release bonds and collateralized loans that will be game changers for the Hive ecosystem as well as the Polygon ecosystem at large. xPolycub is still a number that is constantly going up and it is now cheaper than ever to get involved in the contract.
The roadmap is more important than what the markets reflect; especially within the short term. Markets are down across the board, it is not so much the work of PolyCub or CUB that explains why they are down. Money is flowing away from risk and away from newer assets such as these. What is it that the investors always say??? Be greedy when others are fearful and be fearful when others are greedy... Well I personally see a lot of fear, let's see how this strategy pays off.
We Still Have The Community
Both of these platforms are still subsidiaries of the @leofinance community... A community that is pumping out strong numbers every day and continues to grow in size alongside maintaining that consistent production. There is a lot to be happy about and a lot to be excited about in this ecosystem. https://leofinance.io/@leofinance
Don't let the short-term price dictate your long term mindset.
Come talk basketball on Dunk Social!
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**Links and Connections:**
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**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
May Can't Be Worse Than April... Right?
Image Source https://economictimes.indiatimes.com/markets/stocks/news/d-word-rears-head-as-coronavirus-hit-markets-brace-for-recession/articleshow/74668298.cms
Well April did not treat the cryptocurrency world too well.
At the bottom of this article is a chart that shows the trajectory of the global marketcap for cryptocurrency. The markets are showing that in US Dollar value, crypto lost almost half a trillion dollars of value over the course of a month; definitely not what you want to be seeing as a speculative investor, and though a good buying opportunity for long term holders, it may be rattling the confidence of many.
For me personally looking at what is going on, I think a lot of it is just the general markets rather than the cryptocurrency market. With so many catalysts for economic collapse on the rise for the United States and many other nations right now, I can understand why people are not too keen on risky assets like crypto at the moment.
Seeing the markets dumping this past week was not a good thing. I think that seeing FAANG stocks all individually taking a beating almost feels like that parable of the horsemen of the apocalypse (though obviously billionaires losing a few dollars isn't quite as dramatic as that) when it comes to the health of the global financial markets.
I would love to see that saying "April showers bring May flowers" come true in the finance sector, but I am just not quite sure what will happen. There seems to just be so many negative catalysts right now (i.e. stunted economic growth, Bad earnings, war, inflation, poor regulation, etc.) that I personally feel we are heading towards a recession or even a depression.
Now I'm no economist and could be completely wrong (gladly would be), but it just does not feel too good financially right now. Chaotic markets are where millionaires are made, but it doesn't feel like an overly comfortable time to be an investor right now.
Where do you think things are heading? I would love to see crypto start to decouple from the traditional markets, but we just aren't there yet. Time will tell. I hope May is a bit better than April for everyone's sake.
Come talk basketball on Dunk Social!
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**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
When Buying Crypto, Make Sure You're Actually Buying Crypto
A Misunderstanding
One thing that seems to go right over a lot of people's heads (especially those new to the game) is that if you don't own the keys to your wallet, you actually don't own any cryptocurrency.
One of the things that bothers me the most is when someone will come up to me and say that they bought Bitcoin. I will be really happy to hear that this person is exploring the cryptocurrency ecosystem and I'll usually ask where they decided to buy it. So often... and I mean really often, I'll hear "Oh I got it on Robinhood because there's no fees for purchasing there".
When I hear this, I have to explain to them what they actually purchased, and it is actually a bit more difficult than I would like it to be to clear up.
What Are You Getting On Robinhood?
When you purchase cryptocurrency on Robinhood, there is a reason why there are no transaction or network fees: You are not actually getting any cryptocurrency from the transaction.
You are purchasing what is essentially a promissory note for that amount of cryptocurrency, but only payable in US Dollars. What this means is that you don't own any Bitcoin, but you rather own a few pixels on an interface that shows the equivalent dollar value to the amount of Bitcoin you theoretically purchased.
If there are any government mandates on cryptocurrency or banking in general, Robinhood reserves the right to freeze those funds just as if they were dollars in a checking account.
I will concede that Robinhood has been floating the idea of adding a deposit/withdrawal function and trying to gain the utility of a cryptocurrency exchange, but no changes have been made as of now.
If you do not have the ability to send cryptocurrency to a wallet that you control the keys to, you don't actually own anything. Sure, if you are a speculative investor just looking to get some exposure to the price of cryptocurrency without caring about actually holding the token, Robinhood is a fine solution for you. I personally feel it is too risky to keep money on an exchange of any kind, and when noting Robinhood's past (Gamestop, Amc) freezes of account assets, I wouldn't trust them with a single dime of my crypto.
The Same Goes For Exchanges
It's the same idea on an exchange like Coinbase or Binance although they have an option for you to take agency and withdraw funds to a wallet.
I prefer to keep my crypto on personal wallets (a mixture of hardware and software) in order to have the peace of mind that these assets are in my possession and safe from regulatory extremes if they ever came to be.
It is easy to say that someone with this kind of thinking is being dramatic or cynical about the government of their nation, but after seeing how easily Trudeau froze the assets of Canadian citizens (people who are living in one of the most powerful and "free" nations in the world), it is not worth taking any risks in my book.
Personal agency is the name of the game. Know what you are purchasing before you get yourself invested and make sure you take the proper steps to insure that your funds are in your possession and your possession only.
Come talk basketball on Dunk Social!
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**Links and Connections:**
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**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
Does Hive Need Oracles?
Image Source https://blockchainhub.net/blockchain-oracles/
One type of cryptocurrency that I have become very interested in investing in has been oracles. There are really only a few tokens at this point that are flourishing in the oracle field, with the two I am interested in being Chainlink and Band Protocol.
What Are Oracles?
Oracles make up approximately 1.3% of the cryptocurrency market.
Here is the definition of oracles from the Chainlink website:
Blockchain oracles are entities that connect blockchains to external systems, thereby enabling smart contracts to execute based upon inputs and outputs from the real world.
So essentially they provide feeds of real world data such as weather, statistics, price feeds, news updates, etc. onto smart contracts to allow them to expand their functionality.
Some really interesting projects that could run alongside an Oracle protocol would be things like VeChain that use their network to track the status of aspects of the supply chain. Oracle data is incredibly useful as long as it is verifiably accurate because it allows the smart contract to become even smarter and react to real world results and data.
Should Hive Implement Oracles Into Smart Contracts?
I would absolutely love to see this functionality on Hive. Although we function as a decentralized network, certain "centralized" services such as Tribaldex offer the structure shell and server maintenance for many communities on Hive including @dunksocial. Since that is the case, we could see something in the future such as the option of adding oracle functionality to the contracts that they offer. https://leofinance.io/@dunksocial
This implementation would enable users to create more in depth smart contracts building off of Hive communities. The possibilities in this case would be endless as off-chain data would mesh with on-chain operations and allow for innovation.
Now I'm sure it isn't as simple as flicking a switch and it is most definitely beyond my capabilities... But this could be something huge for Hive. It does feel at times that we are a bit ostracized or separated from the rest of the cryptocurrency ecosystem, and by implementing data from other chains or off-chain, we would make a push towards mass onboarding that we are seeming to lack still.
What Do You Think?
Would you want to see Hive smart contracts implement some oracle functionality through Chainlink or Band Protocol services? What would you want to see pop up in the Hive ecosystem if that is the case.
I could personally see fantasy sports becoming quite popular on Hive if we could use oracle data to import real time results!
Come talk basketball on Dunk Social!
https://dunksocial.io/
Come talk comedy on PeakD community - Com3dy Central https://peakd.com/c/hive-127651/created
**Links and Connections:**
Join me on Splinterlands exploring blockchain gaming
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Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
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Join me on Publish0x to talk crypto https://splinterlands.com/?ref=rob23hive https://presearch.org/signup?rid=1992127 https://leofinance.io/@dunksocial https://www.torum.com/signup?referral_code=robminnick23 https://pool.cakedefi.com/#?ref=187314 https://www.publish0x.com/?a=M7e587xqd2
**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
My Best Splinterlands Pull - Play 2 Earn Potential
Last night I got incredibly lucky when I made the decision to purchase four chaos legion packs from the store to get my total packs purchased up to 200.
I was able to pull this bad boy out of pack number two:
Gold-Foiled Baakjira valued at $118
It's still crazy to me how NFT's maintain such high levels of value, but in the case of Splinterlands there is some real utility behind that price tag.
With this card specifically, I am seeing that it is the fourth most valuable gold-foiled legendary from the Chaos Legion set according to market value. I assume this has to do with the fact that it presents a lot of utility having three strong abilities (magic void, slow and strengthen) that can bolster your squad and slow down the enemy attack.
It isn't often that you pull a gold-foiled legendary or even an epic card for that matter, but the ability to do so is what gives the packs their value.
As I've mentioned in previous posts, I am a big fan of the Splinterlands game economy and think it is being set up so that each aspect of the game thrives into another aspect; in other words, there is a lot of synergy throughout the game in terms of market value.
Play2Earn is a huge democratizing movement, but needs to be done carefully and have a solid plan. When looking at Axie Infinity and their scholars program, it seems a lot like a capitalist business. The people at the top are making tons of money at the expense of their employees labor and are in this case often not compensating them so much (this is what I have heard, I would love to be wrong). If you are able to get involved early with a great game (which I still think it is early for Splinterlands) you can set yourself up with great earning opportunities before the prices of market assets skyrocket.
I personally plan on holding onto all of my gold-foiled legendaries in the future as I have seen the crazy increases in value from other packs' GF legendaries and believe the same will eventually play out for Chaos Legion cards.
Make sure you have some type of plan when it comes to play2earn and that you are getting yourself positioned well in case of a bull run in the game if you do so choose to get invested.
Good luck with whatever you are seeking to accomplish today!
Come talk basketball on Dunk Social!
https://dunksocial.io/
Come talk comedy on PeakD community - Com3dy Central https://peakd.com/c/hive-127651/created
**Links and Connections:**
Join me on Splinterlands exploring blockchain gaming
Get paid for your search results with Presearch
Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
NEW TRIBE: @dunksocial
Join me on Torum
Check out Cake DeFi for staking rewards
Bitcoin Cash Apps: @ rob23
Join me on Publish0x to talk crypto https://splinterlands.com/?ref=rob23hive https://presearch.org/signup?rid=1992127 https://leofinance.io/@dunksocial https://www.torum.com/signup?referral_code=robminnick23 https://pool.cakedefi.com/#?ref=187314 https://www.publish0x.com/?a=M7e587xqd2
**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
Some People Just Don't Get It
Image Source https://www.coindesk.com/learn/what-is-bitcoin/
This morning I came across a retweet that made me actually laugh out loud while being alone in the house; something that rarely happens to me.
Here it is:
ngmi pic.twitter.com/LfPNRoQa1S https://t.co/LfPNRoQa1S
— TTI (@TikTokInvestors) April 25, 2022 https://leofinance.io/@tiktokinvestors https://twitter.com/TikTokInvestors/status/1518738660128034817?ref_src=twsrc%5Etfw
For those that didn't feel like watching, it is essentially a video of a guy interviewing a pair of girls outside of a bar/club where he asks them if they would rather have $100 cash or an entire Bitcoin...
Both of the women replied that they would rather have $100 cash because they either don't understand or trust Bitcoin... Despite Bitcoin currently being valued above $40,000.
Implications of Ignorance
I can't say that after watching this video I think that these two represent the majority of our society (at least I really hope not), but it does seem that there are not as many people who understand what Bitcoin actually is/does as we have been thinking.
I'm not saying that everyone needs to understand the SHA-256 Hash function or understand the full halving cycle of Bitcoin, but it simply seems people don't understand that there is actual value in holding the cryptocurrency. There is an insane amount of loyalty to the dollar and most specifically to cash. There seems to be a need (for some) to see their wealth in some type of tangible form. To me it is very funny to think about this because separately from cryptocurrency, the powers that be in our world are transitioning us into a cashless society.
The numbers on a screen seem to have value in people's Bank of America account, but those same numbers are not understood in someone's Binance account.
The Good News
We are absolutely nowhere close to seeing mass adoption happen yet. That means that despite the massive price increases we have seen in countless cryptocurrencies, we are just seeing the beginning of the financial revolution that is bound to occur as people seek to take back financial control from governments and traditional banking systems.
Because we are so far out from seeing the "final form" of cryptocurrency, DeFi, etc. that means we have more time to accumulate as early adopters. It is so easy to feel like we missed the bus, but what we aren't realizing is that we might have missed out on some gains, but we are sitting and waiting way ahead of the tidal wave that will reshape the whole world as we know it.
Two dumb girls not understanding Bitcoin has served as fantastic motivation for me to keep stacking and earning. I hope you all do the same!
Come talk basketball on Dunk Social!
https://dunksocial.io/
Come talk comedy on PeakD community - Com3dy Central https://peakd.com/c/hive-127651/created
**Links and Connections:**
Join me on Splinterlands exploring blockchain gaming
Get paid for your search results with Presearch
Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
NEW TRIBE: @dunksocial
Join me on Torum
Check out Cake DeFi for staking rewards
Bitcoin Cash Apps: @ rob23
Join me on Publish0x to talk crypto https://splinterlands.com/?ref=rob23hive https://presearch.org/signup?rid=1992127 https://leofinance.io/@dunksocial https://www.torum.com/signup?referral_code=robminnick23 https://pool.cakedefi.com/#?ref=187314 https://www.publish0x.com/?a=M7e587xqd2
**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
The Most Valuable Intangible In Business? Consumer Data
Image Source https://en.wikipedia.org/wiki/Data_sharing
One dilemma that we are seeing come to the forefront of discussion whenever a huge tech company finds themselves in some hot water is the topic of selling consumer data.
It is often seen as immoral to directly sell consumer data in the United States as it violates privacy laws, however there are many workarounds that make people unaware of how much their information is actually being monetized. There are also no federal laws (in the United States) prohibiting the sale of consumer data, so unless there is a state law that changes that fact, companies are often free to do as they like.
It is also perfectly legal to allow companies to pay you for using your collected data to create targeted/personalized ads within your app. This method does not require companies to disclose the data that they collect on each customer, but allows said data to be used to create profit.
How Much Is It Worth?
It is estimated that Facebook brings in around $900 a year for every user on the platform by simply selling their data off to third parties. With around 2.9 billion users, Facebook alone is making more than any of my calculators can display every single year.
According to Statista, the global market for marketing related consumer data is well over 52 billion dollars, though I think this is a drastically low calculation given just how many companies are doing it. https://www.statista.com/statistics/818754/global-marketing-data-market-size/
With technology continuing to progress, I expect to see this number going up every year until there is a major change in the structure of federal law in the United States relating to this as well as some more decisiveness throughout the rest of the world.
Is It Moral?
I don't quite know. On one hand, you are being manipulated by targeted advertisements and your personal data is being exposed. On the other hand, you are getting a user experience that is uniquely tailored to you and thus should provide you with the options that you would enjoy the most.
I know that one moral issue in the situation is the concept of being exposed to a positive feedback loop where it looks like everyone else on the internet is constantly in agreement with your opinions because algorithms are constantly reinforcing that concept by showing you content it knows you will engage with. This makes it increasingly difficult for anything deemed to be "out-group information" to reach your timeline and thus can make you uneducated on a topic despite feeling like you have total knowledge on it.
Misinformation, recommendations and shadow-banning are not new concepts in the modern era, but they can prove to be very dangerous when looking at societal psychology as a whole. If we have billions of people who think that they are correct or well informed, it becomes very easy to manipulate those groups if you are in control of the algorithm and the data.
So is it moral? It could be, but there are huge risks involved when things get too out of hand.
The market is enormous and I don't see it stopping anytime soon. Do you care that companies are selling your data if it means you are seemingly getting a better experience online as a result of that? Let me know in the comments.
Come talk basketball on Dunk Social!
https://dunksocial.io/
Come talk comedy on PeakD community - Com3dy Central https://peakd.com/c/hive-127651/created
**Links and Connections:**
Join me on Splinterlands exploring blockchain gaming
Get paid for your search results with Presearch
Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
NEW TRIBE: @dunksocial
Join me on Torum
Check out Cake DeFi for staking rewards
Bitcoin Cash Apps: @ rob23
Join me on Publish0x to talk crypto https://splinterlands.com/?ref=rob23hive https://presearch.org/signup?rid=1992127 https://leofinance.io/@dunksocial https://www.torum.com/signup?referral_code=robminnick23 https://pool.cakedefi.com/#?ref=187314 https://www.publish0x.com/?a=M7e587xqd2
**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
Splinterlands Vouchers - An Under The Radar Investment?
Speculation
If you play Splinterlands, it is very likely that you have a vested interest in seeing the value of the ecosystem increase as time goes on. Whether you have decided to purchase in game assets to play with or rent out, play2earn is an important factor in why we play the game.
With the launch of the Waka Spiritblade summoner, we saw just how much money can get pumped through the ecosystem when people recognize the strategic value of one of those assets. However, one thing that we saw with that launch is the importance of an asset that many people were previously overlooking: The Voucher
The summoner demanded quite the price tag and given the fact that it had to be partially purchased with vouchers, the value of the asset skyrocketed.
What Is The Voucher
So for quite a while now, people have been receiving Voucher tokens as an airdrop based on a daily snapshot of their staked SPS balance. It has been used in the past as a required cost for purchasing packs during the pre-sale stage and as mentioned used in launch of a special event.
At one point, vouchers were trading for less than a dollar, and now they are up around the $2 mark at a regular basis despite the circulating supply increasing every day.
If vouchers are theoretically going to be required to purchase in game-assets or get involved with the land phase of the game, they may jump up even more and appreciate in value. The thing to remember with vouchers is that we don't quite know what they will be used for even if we have a decent guess. This means that there is even more room to speculate on the value of the asset.
The only drawback I can see in investing directly in vouchers right now is that your voucher balance is not used in any airdrop calculations (i.e. the SPS drop and the voucher drop as it tracks SPS and not voucher holdings). With that being said, we don't know where the value of the voucher will head or if we will one day see a staking option for the vouchers, so it may be worth putting some thought into where you think the value lies for these tokens.
Come talk basketball on Dunk Social!
https://dunksocial.io/
Come talk comedy on PeakD community - Com3dy Central https://peakd.com/c/hive-127651/created
**Links and Connections:**
Join me on Splinterlands exploring blockchain gaming
Get paid for your search results with Presearch
Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
NEW TRIBE: @dunksocial
Join me on Torum
Check out Cake DeFi for staking rewards
Bitcoin Cash Apps: @ rob23
Join me on Publish0x to talk crypto https://splinterlands.com/?ref=rob23hive https://presearch.org/signup?rid=1992127 https://leofinance.io/@dunksocial https://www.torum.com/signup?referral_code=robminnick23 https://pool.cakedefi.com/#?ref=187314 https://www.publish0x.com/?a=M7e587xqd2
**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
Passion Drives Innovation
Image Source https://medium.com/@abhed447/why-follow-your-passion-is-bs-advice-6356d80b8393
The Realization
For such a long time now I have been seeking a passion in my life. I have tried many different majors, jobs, hobbies, etc. and just haven't quite found something that I really was passionate about. I have constantly been looking for ways to make money or following hobbies that I thought would benefit me in some way (mainly financially).
Throughout all of that, I was ignoring some very obvious things that I truly did enjoy and that were what got me through the week. Not only were these things that I was enjoying, but with enough creativity there would actually be a chance to make some money as well. The thing that I do every weekend with my friends that I had not even considered could be exploited by myself for success: going out to the bar.
Innovation In Unexpected Places
I won't go into the details of the exact idea that a friend and I are now drafting into a business plan, but I will say that there is a surprising lack of technology being utilized in the bar scene. Bars and restaurants do much of their own marketing and attract clientele based on word-of-mouth and promoter-based advertising.
Living in an age of information unlike any in human history, it always surprises me when groups are not using the tech we have to their advantage. Within the web 3.0 community, we are constantly seeing cutting edge technology being created to solve problems (often problems that don't even exist yet), but we are so rarely seeing that in traditional businesses. The lack of efficiency in the working world and especially within systems like the government has been a real shock to experience.
Efficiency and the maximization of resources should be at the top of the list for every business as we move forward in the new age of our world. Yet, this is rarely the case as we are seeing a ton of "if it isn't broke, don't fix it" mentalities throughout our society.
I have identified a weakness in the bar industry that I hope to take advantage of to improve the experience of nightlife for everyone and to utilize the technology that everyone has in their pockets to maximize profits for the business and enjoyment for the consumer.
Look For Implementations Of Existing Tech
Nothing that I am planning to do is mind-bending or groundbreaking. Rather, I have seen technology working well for other groups and am seeking to utilize that same tech to make an existing product/business perform better and interact at a much more personal level with customers.
There are so many things in society that are not operating to the level that they could be. Most people don't really care and just accept the status quo until they are offered an improved version of their existing reality. The people who have become the richest and/or most successful in the world as of late are taking pre-existing products or services and making them more accessible and efficient (take Bezos or Musk for example improving the shopping experience or making cars more efficient).
A lot of the tech involved in making things better is beyond my comprehension, but it isn't so difficult to point out things that could be improved with some technological innovation. Honestly just think about everything that pisses you off and think about how it could be done better and you may find yourself with the next million dollar idea; I hope that I can say my idea was a good one when it is all said and done!
Come talk basketball on Dunk Social!
https://dunksocial.io/
Come talk comedy on PeakD community - Com3dy Central https://peakd.com/c/hive-127651/created
**Links and Connections:**
Join me on Splinterlands exploring blockchain gaming
Get paid for your search results with Presearch
Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
NEW TRIBE: @dunksocial
Join me on Torum
Check out Cake DeFi for staking rewards
Bitcoin Cash Apps: @ rob23
Join me on Publish0x to talk crypto https://splinterlands.com/?ref=rob23hive https://presearch.org/signup?rid=1992127 https://leofinance.io/@dunksocial https://www.torum.com/signup?referral_code=robminnick23 https://pool.cakedefi.com/#?ref=187314 https://www.publish0x.com/?a=M7e587xqd2
**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
Why I'm Seeking A Side Hustle
Image Source https://www.nfcc.org/resources/blog/how-to-start-your-own-side-hustle/
The Dilemma
Taxes
I finally started working full time just a little over a month ago and at this point, I am in a position where I am able to handle all of my expenses and have a bit left over to save, but it just doesn't feel like a ton. I know that one of my weaknesses is patience, so I am working on that as I move forward, but I just can't feel satisfied with what I'm doing knowing that almost 25% of what I'm making is just being stolen away by the government each time I get paid.
I really gave it some thought and I think that I need to find a side hustle or a job of some sort to make a little extra money. Though I am not underwater, the progress has been slow and will not be changing anytime soon. I want to get a side job where I am putting more or less 100% of my earnings into investments that will grow and build my financial future.
Ideas
The first idea that comes to mind is obviously just picking up a second job. There is a really nice Japanese BBQ place around the corner from me that posted that they are looking to hire staff. I have a little experience hosting at restaurants and with a 30 second commute, I wouldn't mind walking over there a few week nights and getting some hours in. I would hope that would come with some free food as well!
I am unfortunately living without a car at this time so Uber Eats or delivery is out of the question as I found out I do not have nearly the stamina needed to make deliveries on the bike.
The next idea that comes to mind is trying to start my own small business. I know that a lot of people do things like dropshipping or reselling items on eBay, but I don't think that type of work interests me. I would love to find something to do with cryptocurrency or with something that has to do with nightlife as those are two things that really interest me, yet I'm just at a bit of mental blank spot when it comes to those things.
I will be continuing to think of things that I can pursue and maybe start to build out some structure of how I can make a few extra hundred dollars a week. I would love to pump my investments up during this accumulation period so that I can reap the benefits later on when we reach a real bull market again in crypto.
If anyone has any ideas or stories on what they have pursued to make some extra money on the side of their full time job, let me know as I am absolutely open to suggestions at this point.
Inspiration
I have been reading that finance book called "Rich Dad, Poor Dad" and though I don't think I agree with everything the author is saying, there are some great points raised.
One thing that the author says is that you can consider yourself to be wealthy when your monthly passive income pays for your monthly cost of living. If I were able to say my cryptocurrency and DeFi was making enough money a month to cover my expenses of food, shelter, water, electricity, etc. I would feel really financially secure and thus I found this to be a great goal.
Another thing the author said is that while you are young you need to be investing in yourself and making sure that you are building your asset column even if that means working extra or adjusting your lifestyle. I personally believe that cryptocurrency is the main way that I would like to be investing in my future and thus much of what I earn I would like to put into that.
Whatever you decide to invest in, make sure that you are doing so with a responsible plan and that you are focusing on building yourself up moving forward.
Come talk basketball on Dunk Social!
https://dunksocial.io/
Come talk comedy on PeakD community - Com3dy Central https://peakd.com/c/hive-127651/created
**Links and Connections:**
Join me on Splinterlands exploring blockchain gaming
Get paid for your search results with Presearch
Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
NEW TRIBE: @dunksocial
Join me on Torum
Check out Cake DeFi for staking rewards
Bitcoin Cash Apps: @ rob23
Join me on Publish0x to talk crypto https://splinterlands.com/?ref=rob23hive https://presearch.org/signup?rid=1992127 https://leofinance.io/@dunksocial https://www.torum.com/signup?referral_code=robminnick23 https://pool.cakedefi.com/#?ref=187314 https://www.publish0x.com/?a=M7e587xqd2
**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
Finally Recovering - Path To Crypto Gains
Image Source https://www.mycomebackstory.com/podcast/
Backstory
For those of you that have been around for a while and have maybe come across some of my posts, you may know that I have been battling against an addiction that has in the past depleted my finances. In the past, I would be selling my crypto holdings on an unfortunately regular basis and finding myself starting from scratch quite often in most of my positions.
With that being said, one thing that I was able to keep most of was my Hive Power holdings. The reason that I was able to hold onto the majority of it is because of the 13 week powerdown process that is used to keep Hive Power staked and maintain the health of the ecosystem. That 13 week powerdown saved my ass many times because when I was seeking to sell to get more access to money, I was unable to get to most of it and the feelings would eventually subside before too much came out of the account.
I did end up losing a chunk of it, but it was not nearly the catastrophe that I experienced in my other holdings off chain...
However..
I have finally been able to recover the majority of the Hive Power that I sold off through investment and blogging earnings. I am proud that I have been able to get my account back over the 4200 HP mark as that was where I remember being very torn about the dumb decision I was about to make.
Of course I could be in a better position now financially if I had held off on making poor and impulsive decisions in the past, but my headspace is much healthier now and I am prepared to really get after it.
Everyone loves a comeback story. Whether it is LeBron and the Cavs coming back from 3-1 down to the best team ever, Rocky, Miracle on Ice, The Blindside, etc. Now stacking a few hundred dollars surely isn't equivalent to a miraculous comeback, but it sure is a start for my life to head towards a better direction.
What Has Been Helpful
I think that the thing that has helped me the most other than stopping gambling has been mapping out my financial plans and doing a budget. I have used a budget to manage my spending and track my progress with following a bi-weekly investment plan. I am using a dollar cost averaging concept for tokens that I truly believe in and refuse to sell them before 2025.
Having some idea of what I was going to be doing instead of just going with the flow and dumping money into things without sufficient research has produced a feeling of security and comfort. Though the dollar value of things have taken a dip as of late (though heading back up today), I just have to follow my plan and stick to it and hopefully the results will come long term regardless of the short term L's.
Whatever you are going to do, make sure you have a solid plan. If you have been beaten down or taken some L's lately, just know that today is a great day to start your comeback story!
Come talk basketball on Dunk Social!
https://dunksocial.io/
Come talk comedy on PeakD community - Com3dy Central https://peakd.com/c/hive-127651/created
**Links and Connections:**
Join me on Splinterlands exploring blockchain gaming
Get paid for your search results with Presearch
Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
NEW TRIBE: @dunksocial
Join me on Torum
Check out Cake DeFi for staking rewards
Bitcoin Cash Apps: @ rob23
Join me on Publish0x to talk crypto https://splinterlands.com/?ref=rob23hive https://presearch.org/signup?rid=1992127 https://peakd.com/@dunksocial https://www.torum.com/signup?referral_code=robminnick23 https://pool.cakedefi.com/#?ref=187314 https://www.publish0x.com/?a=M7e587xqd2
**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
RUNE Will Be Explosive
Image Source https://phemex.com/academy/what-is-thorchain-rune-crypto
The Ecosystem
It is no secret that I am a huge fan of RUNE and THORchain, as are many that use web 3.0 blogging sites such as @leofinance. https://leofinance.io/@leofinance
The goal of their protocol is to create a cross-chain DEX that unites blockchains and creates passive income for users. They also seek to have strong decentralized governance protocol that could be used to build upon in the future.
THORswap, an app that uses the THORchain network, has recently introduced LUNA and UST liquidity pools to their service and there are even rumors (well mostly confirmed rumors) that there will be some RUNE-based implementations coming to the Leo Finance ecosystem.
With all the buzz about HBD lately, it is an interesting thought that maybe one day we could see HBD paired with RUNE and offering yield on pooled assets. That would be something huge for Hive as well as another boost to the RUNE ecosystem.
Price
In terms of price, RUNE is absolutely killing it today and is showing some of the explosive potential that it boasts:
Up 20% on the DAY!
I was actually doing a bit of leverage trading on this and was able to cash in on a 60% profit! It was a very very small investment, but it is nice knowing that these profits are out there for the taking every day if you are getting a bit lucky with your play.
I have been building a holding of RUNE and it is one of the assets that I plan on accumulating on a bi-weekly basis for the foreseeable future. I am looking at around a 3-5 year horizon with RUNE because if the team is successful in creating a cross-chain DEX with huge liquidity, RUNE will absolutely moon. It is yet to be done and there is no way of knowing if the team will be successful, but I think that it is most definitely worth keeping an eye on.
Conclusions
Do your own research when buying into anything. I am not rich, but I hope that one day the decisions that I am making now will pay off financially as I am truly a believer in the technology of the cryptocurrency I invest in.
RUNE is shooting for the stars with their plan. If they are successful, you can absolutely expect to see them in the top 10 tokens, but who knows what will actually happen?
Good luck with whatever you decide to do today!
Come talk basketball on Dunk Social!
https://dunksocial.io/
Come talk comedy on PeakD community - Com3dy Central https://peakd.com/c/hive-127651/created
**Links and Connections:**
Join me on Splinterlands exploring blockchain gaming
Get paid for your search results with Presearch
Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
NEW TRIBE: @dunksocial
Join me on Torum
Check out Cake DeFi for staking rewards
Bitcoin Cash Apps: @ rob23
Join me on Publish0x to talk crypto https://splinterlands.com/?ref=rob23hive https://presearch.org/signup?rid=1992127 https://leofinance.io/@dunksocial https://www.torum.com/signup?referral_code=robminnick23 https://pool.cakedefi.com/#?ref=187314 https://www.publish0x.com/?a=M7e587xqd2
**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
Buy The Dip... Again... It Never Stops...
Image Source https://medium.com/@judysantillipackhem/dont-worry-he-ll-catch-up-will-condemn-your-child-to-a-lifetime-of-struggling-to-read-2dcfbb488ed8
Ugh
I guess we'll buy the dip again haha
I'm not sure if it is optimism or just plain psychosis that I am willing to continue putting money into crypto projects despite the fact that they continue to drop in dollar value all the time, but I will be continuing it nonetheless.
I don't have all that much to say about it today so I am just going to do a small rant.
It is difficult to convince your friends to invest in crypto when they are focused on the short term results because it seems like everytime I recommend a coin, it dips 15% the next day. I guess we just might be in a type of bear market right now, but I do admit that I can understand why it affects morale when it comes to hodling tokens.
The dollar value of my portfolio is not looking so hot right now. I am dollar-cost averaging with a plan and don't really need to see results anytime soon as I am looking at at least a 3-5 year hold, but it still of course doesn't feel awesome to take a massive beating here.
It is a comfort knowing that I have a plan that I can stick to and that whatever happens is really out of my control, I recommend finding some sort of planned clarity like this in whatever you decide to do.
Maybe one day our investments will help us reach a point of financial freedom. Today is most definitely not that day... I gotta go to work... Peace.
Come talk basketball on Dunk Social!
https://dunksocial.io/
Come talk comedy on PeakD community - Com3dy Central https://peakd.com/c/hive-127651/created
**Links and Connections:**
Join me on Splinterlands exploring blockchain gaming
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Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
NEW TRIBE: @dunksocial
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Check out Cake DeFi for staking rewards
Bitcoin Cash Apps: @ rob23
Join me on Publish0x to talk crypto https://splinterlands.com/?ref=rob23hive https://presearch.org/signup?rid=1992127 https://leofinance.io/@dunksocial https://www.torum.com/signup?referral_code=robminnick23 https://pool.cakedefi.com/#?ref=187314 https://www.publish0x.com/?a=M7e587xqd2
**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
Why You Need To Stake pHBD-USDC on PolyCub.com
Over the last few days, there has been a ton going on in the Hive ecosystem relating to the Hive-Backed Dollar. First we saw the witnesses boost the interest on savings percentage to 20% and then we saw the @leofinance team drop a huge new farm on the Polycub.com site. https://leofinance.io/@leofinance
I have just recently come to find out that the Hive-Backed dollar is the oldest algorithmic stablecoin in the cryptocurrency ecosystem. Despite a bit of a shaky history with holding the peg to $1, a slew of different initiatives and funding plans have been released to keep the value relatively stable. That has been holding up quite well now for a while.
The pHBD
One thing that has consistently seemed to be an issue for the Hive-Backed Dollar has been access to liquidity. Beyond that, another issue that a lot of people face in the cryptocurrency world is bridging assets across different chains.
With this new slew of releases from the @leofinance team, both of these issues are addressed. https://leofinance.io/@leofinance
In comes the Polygon-wrapped Hive-Backed Dollar. This bridge is to transition Hive-Backed Dollars onto the Polygon network with just a few clicks and no KYC verification. Not having to go through a centralized exchange to get Hive Backed Dollars allows for a lot more financial freedom when it comes to the idea of self-banking and decentralized finance. There is also a ton of liquidity in this bridge and hopefully it will continue to grow as it is well over 250k in HBD right now. https://wleo.io/hbd/
The pHBD-USDC Pair
After you make the transition over to the Polygon network, you can now stake your pHBD with USDC and earn over 57% APR in PolyCub on those holdings. Given the fact that both assets in the pair are supposed to hold a One dollar peg, this type of liquidity farm presents very little risk when it comes to impermanent loss or any price fluctuation between the two assets.
If you are a believer in the future of PolyCub, this farm seems like a no brainer for something you would want to be involved in. Stablecoins are a massive part of the cryptocurrency ecosystem and present a vehicle of investment with very little downside and ever increasing upside as farms like this one are released.
For those who want to generate passive income on on their savings and have the trust in cryptocurrency to be the future, you will absolutely want to be checking out this farm. With increased liquidity for the Hive-Backed Dollar as well as huge yields on your holdings, we could be seeing the start of something massive for Hive. Only time will tell!
Come talk basketball on Dunk Social!
https://dunksocial.io/
Come talk comedy on PeakD community - Com3dy Central https://peakd.com/c/hive-127651/created
**Links and Connections:**
Join me on Splinterlands exploring blockchain gaming
Get paid for your search results with Presearch
Follow me on Twitter/Instagram: @ Rob_Minnick23
Hive: @ rob23
NEW TRIBE: @dunksocial
Join me on Torum
Check out Cake DeFi for staking rewards
Bitcoin Cash Apps: @ rob23
Join me on Publish0x to talk crypto https://splinterlands.com/?ref=rob23hive https://presearch.org/signup?rid=1992127 https://leofinance.io/@dunksocial https://www.torum.com/signup?referral_code=robminnick23 https://pool.cakedefi.com/#?ref=187314 https://www.publish0x.com/?a=M7e587xqd2
**Who I am:**
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience
@R23
