The Week To Be In Crypto [9/10/2018]
“Happiness is reality minus expectations” — Drunk Elon Musk
My dad says “Happiness is just performance against expectations” so the above quote from Elon Musk was interesting. I think it boils down to the fact that you can control your happiness. If you are unhappy either adjust what you are doing to meet your expectations or adjust your expectations. Not as easy as it sounds but its as good of a strategy as any.
Market Overview
Well, it’s not GOOD. This is when the phrase oft repeated “don’t invest what you cant afford to lose” rings true. At this point, if you havent panicked, because EVERYTHING is down, you can still shuffle things around to try and position yourself for when things do turn around. If you are paying attention to actual progress in the space (I am doing this full time now and I know not everyone has that opportunity) it is clear great progress is being made. What is NOT clear is what may trigger a turnaround in prices. It has become pretty obvious that there is strong manipulation in these markets, just like there is in any illiquid market but I am of the belief that anything that triggers real, everyday use of crypto for a large number of people will be able to fight through the resistance. At this point you have a couple options
- Get out and either hate crypto forever or check back in every 6 months
- Cash out to BTC and chill. As much disagreement as thee is most folks don’t think 20k will be the all time high. Maybe it’ll take longer than we would all prefer but if youre in it for the long haul and dont have time to follow all of the comings and goings this isnt a bad option.
- Learn from this and keep hustling. It might not be like shooting a fish in a barrel back in November/December ’17 but there are still great projects coming out and ways to improve your knowledge and experience in the space and ideally your financial situation as well.
What I’m Buying
With ETH as low as it is there are some good opportunities. Look for projects that are close to putting something in users hands and a token that should be tied to transaction value. If a token can start tracking closer to a $ value instead of ETH and ETH stays low then it can be a good opportunity to grow an ETH stack ahead of the Proof of Stake switch (30 ish ETH is neede to stake I think)
I am actively divesting in my shittier ERC-20 “shitcoins” and picking up staking/earning tokens (REN, SPANK) and well funded projects building things that are needed in the space (POLY, 0x, MET, BAT). Outside of ethereum tokens I’m holding onto anything that I am actively staking and otherwise just trying to get into BTC and build up enough DCR to buy more tickets.
I am watching/doing more research on
- EOS — I just feel theres going to be an EOS renaissance at some point. Dont know if it’ll last/win, but even if they held, %30 of 4 billion is still a lot.
- Handshake, HNS (I think, need to look at it more) — Check out some content below, but this seems legit and possibly leading to a digital land-grab.
Recommended Media
Read
Handshake double dip
some great selections in “From the Slack” below
Listen/Watch
I did not watch this, I did listen which may help as the weed smoking wasn’t as obvious. I am always intrigued by people with unique perspectives and Elon definitely checks that box. Apart fromt he quote above, the other nugget I appreciated was “AI is our ID writ large”. Definitely changes my thoughts on what early AI is going to be doing.
Just check out the whole 3rd season of “Revisionist History”. Malcolm Gladwells style isn’t for everyone but the episodes he does on memory had a great message, especially in the current landscape where we can store/reference everything someone ever said and then shame them if they ever act in a way not in line with those actions/comments. We, as humans, dont know how to handle these tools we have built yet, lets just try to be less shitty as we figure it out.
From the Slack
A collection of content from The Bitcoin Podcast slack group the past week
Bermuda ICO application form
https://files.slack.com/files-pri/T0QKAN614-FCQCW7C9Z/initial-coin-offering-application.pdf
Follow Me
twitter: https://twitter.com/Tompkins_Jon
linkedin: https://www.linkedin.com/in/thejonathantompkins
steemit: https://steemit.com/@j-o-n-t
telegram: https://t.me/joinchat/FqrpRUo8CKHV8gGKRuNNNQ (nothing really here yet but will start engaging if a few more folks join)
