Crypto adotpion in US but still a lot of morons
Listen to the podcast this week for a differing perspective on the market & recent developments on a couple projects as well as legal developments at BuildingCrypto.Today.
Coinbase investment fund on the horizon. With an index looking to include Bitcoin, Ethereum, Litecoin, and BCash, there isn’t enough diversification for my liking, but I’m sure that will sky-rocket upon opening. There are still a ton of legal rings to jump through, though this is changing across the US as several states have written some very accepting laws recently. Support the podcast and invest when it rolls out if that’s your interest: https://www.coinbase.com/join/58ddbace00724d025c1fea6b
ETH to send an anonymous tx, people clearly don’t understand the tech. Fortunately there are still 46K non-morons voting for Monero, but still rather unfortunate and doesn’t show much promise for our near future. Then we see people like Warren Buffet furthering these misconceptions, it’s just too bad these people won’t do the least amount of reading or even listening. I find it even more frustrating that 30 minutes of reading can still make me an expert in the industry. We’re still overflowing with morons in the crypto space. With nearly 28K people voting for
Vitalik’s sustained opposition to the ETH hard-fork supporting ASIC resistance is positioning Bitmain to be THE Ethereum miner, which is a significant concern for those of us worried about centralized control. While they’re spread outside of China, they remain a Chinese owned and operated company. The Chinese government has a way of swaying opinions of its citizens. If they decide to make life difficult for Bitmain’s founders, Jihan Wu and Micree Zhan, we could potentially see the entire blockchain collapse. This shows one of the biggest problems with PoS, but what else do we use? Glad you asked, how about multiple blockchains. There is only so much we can do as consumers and using multiple blockchains not only diversifies our interests and assets but also mitigates the damage a nation-state like China can cause. We want the industry to be decentralized, but we need to practice the same with our own finances.
Crypto is Free Market, stay the course and you’ll be fine in the long-run. We’re seeing a small spike now, but be careful as it looks ripe for another spike and dip before we see sustained growth. Feel free to take advantage of the spike this coming tax season. I see trends with flat prices, that might be THE indicator for a coming drop. Just my thoughts and observations, I can’t really say for sure.