Sitting right at the bitfinex buy wall. We break through this and 42k looks pretty fast… not advice
42.55k was the last bitfinex buy wall before 40.5k, so I got a small bid filled at 42.65k… small. Very small. Not advice. Not even small advice
Real test for $BTC will now come at $45/46k. If we can reclaim that I think we have every chance to see >$50k again. If we get rejected or don’t even get there, I think $40k and maybe even $30k are in play. Never advice you know the drill.
I bought back or added
$ATOM 37.7
$DOT 26.5
$ETH 3533
$BTC 42655
$FTM 2.88
$XTZ 4.52
All small, all have stop loss (some at break even), none are advice. Mostly short term (except for the first two, those I will just keep adding on dumps and see if it works 🤷🏻♂️).
Reeeeeee
Did the same again. Only no $ATOM and $DOT as those were never sold.
I am getting to a point where I cannot take #crypto haters seriously anymore:
- Coins with governance and revenue rights to a smart contracts aren’t scams. They are decentralized ownership aka equity
- It may seem absurd to have a start up valued at $100m fully-diluted but…
… that’s the point - “fully” diluted implies there will not be future (stock) issuance, so this number compares to maybe 5m$ valuation of a classic equity start up that will raise multiple rounds issuing new stock in the future
- #tether was not backed in 2017 and…
… very clearly was a criminal enterprise then. If only just for money laundering rules. But that should/will hit the people in charge. Pretending “tether isn’t backed” today and misinterpreting every other print because it fits your narrative is just dumb. Are they…
Assuming you have $SOL sitting somewhere and you do not wish to sell it, but want to hold it and maximize yield, here is one thing that currently works like an endless #yield loop:
2) take your $mSOL and $scnSOL (the token you receive in exchange for staking) and deposit them as collateral on @solendprotocol receiving additional 1.8% yield on those
3) borrow $SOL from solend, which is being subsidized with $SLND rewards and has a NEGATIVE borrow cost of 5%
4) take the $SOL you just borrowed and rinse / repeat steps 1-3 above as many times as you dare
5) take the final $SOL (after the last repetition you dare to do) and deposit them as collateral on @TulipProtocol for an additional yield of 5.5%
I have thought about it enough. Jack and friends dislike #web3 because it doesn’t have copyright protections (yet) and it threatens to break the decade old model of natural monopolies forming on the web once a firm has sufficient mass in an area.
It is true that VCs get great deals in #crypto atm & it is also true some try to flip quickly. But it is also undeniably true that people who participate in #web3 own a far larger share of it than in the case of web2.0. Airdrops alone are often 4figs+ & you control your data.
Look at what happened across #crypto: mainstays like bittrex, poloniex, bitmex and even uniswap to a degree already are rapidly replaced when a better product comes along, sometimes by people forking their code. Of course, if you are in web 2.0 you are scared as fck.
Picked up a number of under performing, high quality protocols along with some of the most strongest recently, hedged it with low quality stuff. I think we are at the point where things are so low sentiment-wise it’s difficult not to see a pop. Low qual hedges will help otherwise
Too tired to provide more reasoning, but should echo my previous few posts
This is a part of the story. Lot’s of room with this and funding to squeeze shorts.
FWIW I am in the latter category. I think both traditional markets and crypto need to shake off the fact liquidity will reduce, but the underlying drivers (economy, virus clean up, innovation) are going to win out at the end.
Separation based on utility needs to happen though. As long as memecoins are 1:1 correlated with actual working projects, #wangmi long term. But I am optimistic it will happen.