Wow! so much going on, so little time to talk.
I'm in the midst of a career change and its got me knackered.
So, let's wrap up some of the major events going on this month / July since I've been hunkering down.
#1) The US legislating crypto isn't all bad. The way I see it, crypto like all new technologies or trends begins with some purity and is refined and molded into what it will ultimately become: another form of what we've already known. And I am exhausted of telling you, my readers, and crypto community that everytime an investment bank INJECTS liquidity into crypto, they are in fact, TAKING OVER THE NETWORK.
So while you're smiling about your holdings going up a paltry X amount, they just found a way to sucker you, and everyone else into giving them more control and power over the network.
But since it's going to happen no matter what, this legislation will give crypto further legitimacy, it'll open the levees that guard retirement funds, and pour into crypto. You'll be rich. Even if it means you'll have 0 control compared to the people giving your BTC value. Let that sink in.
Ethereum - somebody paid a couple million for a rock.... a fucking rock.. I am speechless. I jumped into Twitter to see what was happening and the person who convinced a group of whales to buy said rocks and inflate the price said "this is a once in a life time opportunity, if you have the right group of investors, you can create demand on anything right now" and to everyone who bought some pixels, or rocks, and its going to sting when this bubble bursts and you stand there penniless.
Also regarding Ethereum, EIP 1559 was... a bust! not only was a total failure, BUT turns out, miners have created an internal asset amongst themselves for artificially inflating gas prices! WAY TO GO everybody. Honestly, the more I see lay people pouring into crypto the more I want to bash my head against a wall.
Now that I got that out of my system, let's talk about the good.
Cardano, it's finally maturing in the the chain it has potential to be. I will say this! I am cautiously optimistic because I've seen the network lagging under the pressure of all the recent CnFTs (Cardano NFTs) being minted on here. But come Sep 13th, I think we'll either see a parabolic shift due to supply shock like with BNB OR the tools (Wanna be Warren Buffets) will follow Warren's advise on "buy the rumor, sell the news" and dump after.But even better, they'll get slaughterd. I prefer Gordon Gecko's philosophy "Bear, market, bull market, it's the sheep that get slaughtered"
And if you follow anyone, else be it for NFT's, buy sell strats, or anything else, pucker up piggy!
Finally, I am seeing a new form of stupidity forming, which is people associating one protocol's attributes to direct valuation of another. Case in point, Solana vs Cardano. Have you seen the token distribution for Solana?
Link below. 48% of Solana is with insiders... I am out of words, we are turning into ameba collectively....
Compare that to ADA at 17%.
THEY ARE NOT THE SAME, SO STOP EQUATING THEM AS BOTH!
Lastly, I've been jumping deep into polkadot waters, and I can say without a doubt, that after ADA, I'll be migrating over to DOT before parachains are unleashed. That coin is a tiger with a foot on its neck, watch what happens when the foot is removed.
Lastly, I did also load up some XRP? why ? Cuz I'm a gambler. Plain and simple, pure risk. If SEC doesn't roast them like a pig, i think we'll see $5+ because again, people seem to be equating a protocol which is entirely CENTRALIZED, with Cardano, because hey "3 letter bruv, i heard they're the same guy ..." dead ass heard this picking up a cuppa this morning....
I'm sorry for the tone, but as more and more people pile into crypto, the more skewed, manipulated, and ugly its become. The only shred of hope I have is that the ADA community for the most part is filled with people who know their stuff. And that gives me hope.
You're EMO punk-rocking listening CT cronnie,
OGF
P.S.- no time to edit for grammer. Sorry, I'll do better for next post.
As always : THIS IS NOT INVESTING ADVICE. DO YOUR OWN DUE DILIGENCE AND RESEARCH. THIS IS JUST ME SHARING MY STORIES AND views / news updates.
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