Weekly Rundown - May 1, 2022
Are we doing this or not?
Happy May and عيد مبارك to those who celebrate it. I’m feeling quite ill so I will keep this rundown short with a different format.
Did you catch my update from earlier this week? If not, please do. In the update, I talked about some recent changes in miner behaviors and some trends in stablecoins that you may want to see.
In last week’s rundown, I asked which price will come first for bitcoin—$33,000 or $52,000?
58% of respondents said $33,000.
Granted, that was from only 182 votes, which is very low for my polls, so take that for what it’s worth. From the sentiment I’m getting from social media and the bitcoin fear/greed index, I would have expected more people to select $33,000. Seems like the overwhelming consensus says we are about to have a massive drop, presumably below $33,000.
Paid subscribers, I’ll have one or two updates this week. Everybody else—scroll down for some interesting stuff you may enjoy.
I don’t post much on YouTube, just occasional short videos that don’t fit very well in this newsletter. I posted three short QA videos just the other day, if you’re interested.
Rumors say Coinbase insiders bought a bunch of various altcoins shortly before Coinbase announced it may potentially list those tokens.
Dirty business, this.
More dirty than traditional finance? Debatable.
Unlike traditional finance, the transparency of the blockchain lets 7 billion detectives figure out what’s going on. Your regulators can only hope to have this much insight into whatever Wall Street’s doing.
About two and a half months ago, Kevin Zhou with Galois Capital published a Medium post that reflects on some key failings of the crypto space.
Not just the grift, as he calls it, but the way you perceive the cryptosphere when prices are up compared to when prices are down. Read it now.
Blockworks highlighted the difference between Ponzi schemes and the use of staking as rewards, as well as the new incentives that come from staking.
Reminder: stake your altcoins when possible. It’s free crypto and the only way to fight the inflation that comes from token rewards.
Relax and enjoy the ride!