The Cryptocurrency Trading Journal

[Daal]

Cool, which ones?

UNI, Sushi, AAVE, COMP, FTX, CRV, YFI, 1INCH. But its not a big position, something like 0.5% of my networth. I find it hard to analyze these tokens, who will be the winners? I dont know and I dont think anyone knows, so I'm betting on a lot them.

I do like the idea of the Uniswap token a lot, because its more of a brand bet than a platform bet. The platform sucks balls right now with the huge fees. But when they launch Uniswap with a Layer 2 solution, its going to rock and I bet the Unitoken will affect the governance of that too. So basically, its like owning the team, and all future platforms they put out. And the token holders can get part of the profit of the platforms if they desire
They are also backed by the top crypto investors (Andressen Horrowitz and Wilson Ventures), so I do like Uni a lot

 

[Daal]

 

[Daal]

ETH

lol

 

[Daal]

https://www.cnbc.com/2021/02/05/mar...nt=Intl&utm_source=Twitter#Echobox=1612542991

The crypto mental transformation is real. Cuban now defending Doge. And I would agree with him. His only mistake is owning LTC, which is complete garbage and has no chance of outperforming BTC in the long-run. All of its 'advantages' over BTC are just trade-offs that decrease its security

 

[Daal]

NFTs are so fascinating. I bet when crypto becomes more widespread, big companies like Marvel will see how that is a big opportunity for them and they will issue super hero NFTs. Then, if these NFTs are credible (if they come with contractual rights guaranteeing there wont another Wolverine NFT issued) then they will be able to be used in DeFi to borrow against it and invest the proceeds. Effectively, it will be like owning a great piece of art like the Monalisa and getting a loan against it without having to sell it. Or providing it as colleteral to earn interest on it (though collectors might be too afraid of a margin call to do this).

But there is more, NFTs will then be divided up in pieces and be sold to investors. Effectively, this would give everyone the chance to own great pieces of art or super collectibles if they want.
Then there will be pools of small parts of NFTs, much similar to ETFs, allowing one to get exposure to rare itens as a liquid asset class that can earn interest or be used to get loans. I'm just not quite sure how to profit other than owning ETH. The tokens (like Rarible) seem a little sketchy, and there could be another token down the line that just crushes the competition

 

[NoahA]

there could be another token down the line that just crushes the competition

Isn't this an issue with any current crypto?

 

[Daal]

Isn't this an issue with any current crypto?

certion coins like btc and eth, have achieved network effects that are extremely hard to compete against. you might try but you might just produce a myspace or worse a friendster trying to beat facebook. its like Thiel says, to beat the incumbent you cant just be better, you got to be 10x better

 

[NoahA]

certion coins like btc and eth, have achieved network effects that are extremely hard to compete against. you might try but you might just produce a myspace or worse a friendster trying to beat facebook. its like Thiel says, to beat the incumbent you cant just be better, you got to be 10x better

I worry that once central banks launch their own crypto, they might come down hard on BTC and ETH. And sure, these will still be worth something to someone, but if it's made illegal to withdraw USD from US brokers, the value drop could be very severe.

 

[Daal]

I worry that once central banks launch their own crypto, they might come down hard on BTC and ETH. And sure, these will still be worth something to someone, but if it's made illegal to withdraw USD from US brokers, the value drop could be very severe.

you would still be able to sell btc for the Fed coin and deposit that coin in a bank, how will they stop that? also, illegal where? Wyoming wants to be the US capital of crypto. it wont be illegal there thats for sure, states can revolt, like they are doing on MJ

 

[NoahA]

you would still be able to sell btc for the Fed coin and deposit that coin in a bank, how will they stop that? also, illegal where? Wyoming wants to be the US capital of crypto. it wont be illegal there thats for sure, states can revolt, like they are doing on MJ

Sure, but once everyone is looking for an exit, what does that do to the price?

The government can easily say that with rising BTC values, they are making it illegal to trade in the US because they are trying to protect the consumer. It is so incredibly easy in my opinion. So if you have a coin sitting there at 50k or 100k, how are you controlling your risk of it losing 99% of its value very quickly? It could very well be an overnight decision like this, as opposed to weeks of going back and forth with 10% down days, but at least giving those paying attention time to get out.

Crypto's success will more than likely lead to its demise. It serves no purpose for the government, and in fact, makes it's work that much more difficult. The US does not need competition for the dollar. Perhaps at this very moment, watching it unfold is an excellent learning tool, but at some point, I do believe that all governments will need to take back the control over their currency.

I mean look at how China imposed laws limiting how much money you can remove from the country. Sure, there are ways around it, as there will be with BTC, but the mere threat of either the FED or some other government entity looking into the role that crypto plays in the financial stability of the US dollar will cause a huge drop in its price.