-INTRO
Hello, Hello, Hello! Ladies, gentlemen and everyone in between, this is your daily dose of GoodDollar News brought to you by me, your host and fellow Basic Income lover Micah Dewey.
-SPONSOR SPOT
This episode of the Good$ News Podcast is brought to you by our fantastic partner over at gooddollarmarketplace.sharetribe.com. New listings everyday from all over the world. When you have GoodDollars burning a hole in your wallet, check out gooddollarmarketplace.sharetribe.com. And now on to the show.
-AUDIO INTERLUDE
As a reminder to each of you watching on YouTube to please subscribe and hit the notification bell. Just over 25% of the views on this channel come from subscribers. Lets get that closer to 50% this week!
The show has been getting ranked on various national leader boards for Apple Podcasts. So to ensure that the show can be discovered by as wide an audience as possible, this week I am going to be setting up the first test run of a Fuse based community coin to be given as a reward to each person who rates the Good$ News Podcast on Apple. The link for the Podcast on Apple is down in the description of the video. Once you leave your 5 star review join the GoodNewsCoin telegram group, leave a screenshot and you will be awarded 100 GNC.
So this is how this is going to work. If you do not already have the Fuse Network Wallet app, get it. Once you have it downloaded, you can then scan this QR code on the screen now to join the community. You will then be added to the GNC community. Once you have gotten to that point all you have to do is send a message in the Telegram group and you will receive your coins.
Fuse Wallet (Android): https://play.google.com/store/apps/details?id=io.fuse.fusecash&hl=en_CA&gl=US
Fuse Wallet (iOs): https://apps.apple.com/il/app/fuse-wallet/id1491783654
-DAILY NEWS
So, in case you hadn’t noticed, today's big story is actually a community-related story and a project that I am personally trying to get off the ground. Today I am proud to announce to the Fuse and GoodDollar community, Good $ News Coin. Good$ News Coin is a micro-economy built on Fuse Network that is aiming to be a community rewards coin, Fuse Network market value aggregator, and a platform to bring new and exciting projects to Fuse. This week’s Apple Podcast review push is going to be the first rewards program available to the community.
One of the purposes is to get the GoodDollar community as a whole more familiar with the idea of using FuseSwap and being able to swap between tokens, whether that be Fuse, GoodDollar, GNC, or any other community coin available on Fuse. In the coming weeks, more information will be released publicly, but I can announce some of the plans and ideas in the works to give you guys the ideas as to how this coin can actually grow our community.
So here is another rewards program going into effect from today until the end of March 2021. If there are other Fuse network content creators out there let me know! GNC will be donating 200 GNC for each YouTube video, audio content such as Podcasts, and much more. This is not limited to GoodDollar content either, if you are currently involved with another project on Fuse that counts too! Again all you need to do is join the GNC Telegram group and send me a request. There will be a much more streamlined process coming in the next few weeks.
Right now, the best use and most ideal use of GNC is to add liquidity on FuseSwap to get the overall value of the coin to where we want it to be. The target price for GNC is currently around 2 cents US. We are going to need to raise funds to make this happen so here is the first official call. Any FuseNet funds that you wish to donate to the project can be sent to this address.
0x19C574Be67Ae6e005F59142d38411afB03DB3a66
Here’s how you can make some bonus cash! So Until the end of March 2021, any donations to the GNC wallet will be paid out in GNC as well as added into the greater Liquidity Pool.
These are the payouts that you will receive based on the amount donated.
10 GNC per Fuse Donated
1 GNC per 1.5 G$ Donated
2 GNC per ETC Donated
50 GNC per USD Donated via USDc Tether or DAI
Wrapped BTC, ETH and Kyber Crystals each get paid out at 75 GNC per USD of value donated. Example: You donate 4 KNC ($2.53 ea=10.12 USD x 75GNC/USD,) You receive 759 GNC!
As time goes on and more people get involved we can all talk about what we want to see happen in the future. One of the first plans is to set up a proposal and voting system, and possibly a more user-friendly ios/android application that will allow for greater integration into the future. These two proposals go together because once we have a number of community members we can then make decisions by consensus and decide how to expand on the community.
The reason why I feel it is important to raise money is that if we can get GNC to that 2 cent mark we can then offer real incentives and payments to let's say an app developer, a UI/UX designer, maybe an e-commerce expert to get all of the integrated coins and projects that are being built with FUSE in mind. We could have a home to buy, sell and trade directly in the app. We could bring in media channels of community creators and get those videos, memes or audio content trending with a give and take token model by using GNC. We effectively have the tools to design an entire ecosystem and community, I just need your help, expertise and ideas to make it all happen.
My goal behind creating Good$ News Coin is to have a community currency that trades in massive volume with an easily recognizable value and a high day-to-day spend rate that helps incentivize innovation, information and community solidarity. If we can dream it, we can build it. The other theory we are testing in the creation of GNC is the idea of true value creation. Can I go make a coin on Fuse with a buddy, market it to an existing community, raise LP, and create real value for those community members simply by word of mouth and community organization? That’s what I really want to find out.
The Good$ News Podcast will still be primarily a GoodDollar show, no need to worry about that. But. I will be promoting new and exciting projects coming up on Fuse because we really do need Fuse to be an exciting hub of micro-economies, crypto-innovation and community involvement if we want to see greater success in the future. If you have a project on Fuse that you would like me to highlight on the show send me a message on either Twitter or Telegram.
In the coming weeks an official road-map will be drafted and ideas will be considered and argued about. This is still pre-market trading as far as I am concerned. The supply on FuseSwap should be more than enough for the more enterprising traders among my viewers to have some fun with it already. Remember that you will have to manually add GNC to your fuse swap options. You will be able to see it listed on the front page of info.fuseswap.com holding either the #9 or #10 positions on FuseSwap as of today. If you click on tokens, you can then click on GNC, at the top of the page there should be the option to click on the link that takes you to the fuse explorer by coin address. If you copy the coin address you can then add it to your FuseSwap and get to trading it right away!
https://info.fuseswap.com/token/0xdc327929b8f366e1ab76060897c684181f9e4047
If you have any questions, concerns, recommendations or ideas you can always send an email to [email protected].
-FINANCIAL NEWS
So now it's time for the Financial Data from the previous 24 hours. These details can be found over at info.fuseswap.com. Once you are on the site, just select GoodDollar from the list of swappable coins and tokens.
Give me a little bit of leeway today on the financials. I have to get back to keeping current daily data and so I’m not going to be looking at percentage changes because its been 3 days since I last recorded the data. I know, I’m sorry.
So today at 0500 CST the price of GoodDollar was sitting at 0.000234 which is noticeably lower than last week this time. Liquidity has stayed pretty stable dropping down to $11,697 USD. Maybe with a price rebound on Fuse we could see $15K this week.Volume was low again staying under the $1k USD mark at just $848.38 which is rather disappointing. We had a total of 216 transactions on FuseSwap and that is noticeably higher than usual, however there were many small transactions that appear to be the AMM resetting to Fuse’s price and adjusting G$ value accordingly. So it looks good but actually isn't in this one specific case
The price for the Fuse token at 0500 CST was $0.1480 down 1.65% from a price of 0.1515 the day prior. These numbers were taken directly from CoinMarketCap.
Now let's see how GoodDollar fared against FuseSwap's supported stablecoins as compared to the day prior.
G$/DAI G$4,105
G$/USDC G$4,105
G$/Tether G$4,431 But the Pairing only has 3 cents of Liquidity as of recording so take this number with a grain of salt.
This gives us an average of G$/USD at G$4,105 as we are going to be ignoring Tether until Liquidity comes back to a reasonable level.
The other main pairing that we are following is G$/FUSE on Fuse Swap. Currently G$/Fuse is trading at 624.35 actually showing some ground being made up by GoodDollar despite the relatively uneventful week last week. .
If you have any topics you would like to see discussed or any types of videos you would like to see let me know in the comments down below. I read every comment on these videos and will reply. Don't think I won't do it. ;)
Main Story of the Day
I also wanted to do a bit of price analysis for the start of the week based on the previous week's charts and what we could expect to see and potential entry points to achieve the highest returns possible.
So, if we look at the chart for GoodDollar based on the previous 7 days we saw a clear resistance level of 0.000231 throughout the week with highs at .000266 and a low of .000199. The two inter-week dips we saw allows us to plot a potential graph for the upcoming week with possible outcomes.
The first likely outcome is a price next Monday of pretty close to where we are currently sitting. The price has stabilized pretty significantly and movement has been restricted to a very narrow band minus two outliers that I will go over in the more positive outlook. The estimate for next Monday's showtime price is 0.000242. This is if we see no notable growth or failures. If the status quo continues this seems like the mostly likely scenario. If you follow this line of thinking and don't expect a major development either positively or negatively I would suggest that G$ right now is a Hold. with an entry point being any drop below 0.000220. I would suggest that we would consider this estimation to not hold true if we see overall LP rise about $12,500 USD.
The second outcome would be a drop and hold. Last week our lowest price was 0.000199 but we pretty quickly recovered. I would say if you are looking to make a move right now waiting for a big single day drop might be the best entry. If we see prices fall below 0.000200 for more than a day then I would say this scenario is likely the culprit. The reasoning could be a combination of things or just a removal of Liquidity from Fuse as we saw happen to Fuse last week. In this situation I would say that G$ is a strong buy due to the historical momentum we have had.
Finally, our realistic best case scenario for the week. Based on the data analysis I did I think it's pretty unlikely for us to break our ATH this week without a major cash injection into LP. This could also occur if we see Fuse rebound back to above the $0.20 USD mark. But I am still giving the statistical likelihood of a high in range of 0.000310-325. Short of our all-time high but not by much. I actually think that this is probably the most likely of the three to happen based on the charts but what do you guys think?
Did you like this analysis? Where do you think G$ will end up at by next week?
Alright folks, thank you for watching or listening. Be sure to smash that like button and subscribe to the channel. Don't forget to come back tomorrow for another episode of the Good$ News Podcast!
-DESCRIPTION
#GoodDollar #Crypto #BasicIncome
Good$ News Podcast is a daily Breaking News and Financial podcast related to the cryptocurrency GoodDollar based on the Fuse Blockchain. These episodes are designed to be a bite-sized analysis of GoodDollar’s daily financial statistics and any other GoodDollar related News or Rumors.
Disclaimer: I am not employed by the GoodDollar Organization or eToro, GoodDollar’s executor. This is not meant to be financial advice. I am not a licenced financial advisor nor am I an expert. I am still learning about Crypto and in some situations, I may be incorrect, and if I am, I’m sure I will hear about it in the comments section. This show is meant to be informational and entertainment, NOT FINANCIAL ADVICE.
My LINKTREE: https://linktr.ee/MicahDewey
Email Me about GNC: [email protected]
My MetaMask Wallet for Donations (ETH, USDT, DAI, USDc, G$, wBTC, TEL)
0x19C574Be67Ae6e005F59142d38411afB03DB3a66
dApp GoodDollar: https://www.dapp.com/app/gooddollar
GoodDollar Organization Home Page: https://www.gooddollar.org/
GoodDollar Telegram Group Chat: https://t.me/GoodDollarX
GoodDollar Marketplace on Facebook: https://www.facebook.com/groups/gooddollarmarketplace
GoodDollar Marketplace on Sharetribe: https://gooddollarmarketplace.sharetribe.com/
GoodDollar on dApp Radar: https://dappradar.com/ethereum/defi/gooddollar
Fuse Network on dApp Radar: https://dappradar.com/ethereum/other/fuse-network
Fuse Studio: https://studio.fuse.io/
Fuse Wallet (Android): https://play.google.com/store/apps/details?id=io.fuse.fusecash&hl=en_CA&gl=US
Fuse Wallet (iOs): https://apps.apple.com/il/app/fuse-wallet/id1491783654
What is GoodDollar?? PDF/Powerpoint by Fabiana Cecin: https://www.docdroid.net/oCvn2WH/gooddollarexplainedfeb2021-pdf
David A Ozeata’s Good Dollar Youtube Tutorials: https://www.youtube.com/channel/UCZYbgJY4-14luInnC__y22A
LINKS REFERENCED IN TODAY’S SHOW
Kolektivo Labs Launches on Fuse to Scale Blockchain-Based, Sustainable Development in Curaçao: https://medium.com/fusenet/kolektivo-labs-launches-on-fuse-to-scale-blockchain-based-sustainable-development-in-cura%C3%A7ao-ac83d30294b
CuraDao/CuraDai: https://curadai.curadao.io/
Atomic Hub GoodDollar NFT’s For Sale for WAX: https://wax.atomichub.io/profile/kj2ay.wam#listings
Atomic Hub GoodDollar NFT’s For Sale for G$: https://gooddollarmarketplace.sharetribe.com/en/listings/1364470-gooddollar-february-nft-rewards-slash-auction-free-slash-paid
