Sunday, November 27, 2022
Saturday, May 29, 2021
Some Basic Crypto Investing Principles for Altcoin Investors (by the author May 29, 2021)
People are making some huge mistakes that will cost them a lot this year. While some of the more well "heeled" investors may find this un important, most of us generally have a problem losing money.
Always keep in mind that as you develop your investment strategy (if you don't have one or know that you need one keep reading), so these are some suggestions you will need to consider as you go, in order to avoid costly mistakes.
Due diligence is just good investment sense, so consider these 'best practices' as part of that "due diligence":
Study your investment
Jumping into a token without knowing what it is, what it does, the idea behind its value, etc, is what's called "Las Vegas" style investing, in other words: pick a winner!
Small investors will tire of this quickly and bigger investors will bleed out gradually.
Create a game plan and stick to it.
Know how much you intend to invest, how long you plan to hold it, and what you plan to do with it after that. Then do your best to follow it. Realizing an investment can only be achieved when meeting investment time goals. If you don't give it time, and bolt each time the market shifts you will incur greater costs and loss of your initial investment. Hold firm.
If you are a person who hold their tokens, your plan will be different than one who lend their tokens. Know what you plan to do with your tokens while you have them, and ultimately how you plan to dispose of the profit.
Test the waters before committing
Before you send ten thousand dollars to some new exchange, send fifty. Test the exchange with smaller sums before entrusting your entire investment. There are still huge problems in the crypto world which remains largely unregulated and un censored.
In many respects the investor is at the mercy of these companies, exchanges , and communities. Take time to better understand the community and its reason for existing.
Make sure the project makes sense
Regardless of the hype, a token is only as good as its daily yield. Make sure you know why a particular project exists, find out about the community, check out its feeds subscribe to its alerts. When you see red flags, don't hesitate to run, and always remember that if you cant understand what they do... chances are other investors won't either.
Don't Fall In Love With Your Own Investment
The more upfront information you have, the better informed you are as an investor and the less you are inclined to "identify your investment" with your "ego". You will know this if and when you find yourself defending an apparently bad idea...
Know When To Walk Away
After identifying and obviously bad investment, do not hesitate to walk away. This includes finding out some vital flaw surrounding its tech, community, idea, marketing plan, the problems can vary but the consequence is the same, poor return or loss of principle. That isn't even the worst thing that can happen.
There are many illigitimate projects with unscrupulous sposors. Don't be afraid to dive into the company chat streams and really get a picture of how each project runs. Worse things that can happen is that these companies walk away with your money, or use your information to take even more of your money. It happens in ideal settings, let alone in a rapidly evolving world of blockchain finance.
Seek Higher Knowledge
Don't be afraid to add to your education. Its never too late to learn and life is a process of discovering new ideas. If you have the time and energy enroll in free or low cost blockchain certification courses. If you haven't been in school in a while, this is a great time to start as we are at the beginning of a new frontier in finance and global commerce.
Don't be educated out of the market. As schools churn of better educated youth every year, for many, the gap between education and success has only gotten smaller. That's not the case for millenials. For those left behind the upcoming decades will deal harshly, in terms of progress, growth of wealth and income development.
Keep in mind that developing a passive income means becoming and active investor. That starts with education as streams, youtube infomercials, and chat rooms can only take you so far before a certification or degree become ideal.
There are many ways to get a free education and many companies will even pay you to learn about their products. Step out of the box, or die in it.
Learn the art of making a zero sum investment
Ideally when it comes to making a game plan a person invests in a way that eventually they get back their principle and earn a profit off their interest which they reinvest to earn "compound interest".
This is ideal, but not always easy. More so if you know what the hell your doing. For beginners, the goal is to invest, earn, take out the earnings after a set time, then reinvest those earnings until your have taken out the equivalent of your initial principle.
This can be a detailed discussion and I will expand on it in future articles, however for the sake of this discussion our goal is to earn back the initial principle which you can then re-invest and continue to grow your passive income.
Build A Network
The blockchain world is filled with interesting and colorful communities. Get to know them, and try to team up with other like minded investors. Having direct industry knowledge will always beat reading the white paper. After all these are the people to whom you are giving your money.
Over time however you may come to know and respect the people you will come into contact with. Everyone has a value and are a potential source of unknown information, cooperation and inspiration. Don't be foolish, but also don't be shy.
The world is rapidly becoming a much smaller place, and the blockchain communities are no exception so connect with balanced, trustworthy and like minded people who are as invested in these ideas as yourself. The bigger the network, the better!
Sunday, May 23, 2021
Friday, May 21, 2021
Wednesday, May 19, 2021
5 Reasons Why Bitcoin and Cryptocurrency Markets Have Been Crashing (May 19, 2021)
Today witnessed a third consecutive day of losses in the crypto markets.
Some reasons include:
Bitcoin is up 286% for the year, but has seen nothing but losses for the last month, but in recent days this has increased crescendoing with record losses today... but why?
Bitcoin doesn't operate in a vacuum. Placed upon the substructure of the wider stock market Bitcoin has not actually changed in its value or content, but rather suffered at the mercy of a wider market adjustment.
Sometimes crypto enthusiasts forget that this market is subject to various changes within both the industries, service, manufacture and fosile fuel industries. Therefore it isn't a place for tourists, but rather a hazardous endeavor as all investing can be.
To the point the first and biggest reason for the recent dip has been a perfect storm (of sorts) in the financial world consisting of state governments, decentralized communities, and regulations and even famous entrepreneurs which just can't seem to get their message across "clearly" and without abmiguity.
The SNP, Dow, and NASDAQ all lost this years gains in just a few days, due to various wider changes in the market.
This is out of the scope of this article, however merits further study and certainly affects the overall crypto market which is built upon the traditional markets.
The crypto markets were further impacted by other more blockchain focused yet still unrelated events such as:
- Elon Musk's bungled SNL appearance hugely impacted the market sending Bitcoin and Dogen into their first troubles.
- Then the US governments announcements of investigations into Binance and Binance related companies, followed China's announcements that it will also be investigating Binance, and introducing new rules to prevent certain types of trading such as banning the use of crypto for the use of payment. Turkey also followed suit sending Bitcoin down further.
- Followed by the constant rant of right wing, and online anti crypto 'gloom and doomers' who generally hate cryptocurrency, decentralized finance, and the communities that support them.
- That investors would flee to calmer waters is something that goes without saying, but the better question we should ask should be:
Are cryptocurrency markets still healthy and sound investments?
I believe that the answer is absolutely YES. While we may not know exactly where the bottom of this current dip will end, we do know that it won't last long, whether or not Bitcoin is accepted as payment by Elon Musk.
Saturday, May 15, 2021
What Two Tokens Will Kick Ass This Month And Why ( by the Author)
So if your sitting by your smart phone trolling through the internet and happen upon this article on this months hottest tokens your definitely in for a treat today!
As recent news events would have it several market movements have pushed some recently not so well known tokens into an upward trend not likely to change anytime soon.
The two of the hottest tokens this month are:
Polygon / Matic
and
ADA
Here's what's going on:
Polygon / Matic is a token recently put on the market and rapidly gaining in value due to several factors.
Least of which is that Polygon Operates its own Blockchain, much in the way Bitcoin or Ethereum, this company allows users to purchase their tokens, then stake and lend them without incurring huge transaction fees.
That alone has caused investors to flock to this still under priced token. Many analysts believe that the price window to purchase a large volume of Matic before its price increases considerably, is now.
The other hot token to watch this month is deffinately ADA. One of this years to currencies, this company has several projects in the works that are following a set timeline from inception to delivery.
This combined with Bitcoin and Doge's crashes this month have fueled the desire for investors to move their revenues to more safer medium term (longer than 1 month) coins.
One of those has been ADA. Doubling in value within the last six weeks ADA remains relatively inexpensive, but continues to gain a consistent increase daily, but without the huge price fluctuations of Bitcoin, or Doge.
Two tokens to beware of this month in fact are Doge and Bitcoin. The reasons are that Bitcoin is adjusting and hasn't yet hit its bottom. Unless your holding for more than 45 days , to a year, Bitcoin is still well overpriced for the ultimate return on your dollar.
ADA has far more stability and priced at just over 2 USD still remains relatively low priced for long term holds. Considering it has doubled in its value over the past few weeks, without losing, analysts expect this to be a good bet going forward into the summer.
Also ADA is used by yield farmers and liquidity pools, has low transaction fees and can be found in all major and most minor exchanges. This coin is hot! The better question is when will that change, and will you take advantage of this opportunity before that time?
Something to think about, but as always, do your due diligence and homework.
Another concern of Doge is that its fundamentals are way off, it lacks a consistent and clear roadmap, has the same environmental inefficiencies (if not more) as Bitcoin and is affected by actions of a few individuals who can either drive the price up or down just by talking about cryptocurrency. Yet this is the least of its problems.
Plagued by price instability Doge's popularity my soon be eclipsed by tokens competing for its place such as Shiba (also a Doge spin off) and Akita. Yet according to reports it has no plans actually develop competing technological edge, lacking the manpower and apparently the desire to prevail in this rapidly changing market.
According to MSN Doge
" Dogecoin hasn't had full-time developers since the coin's founders pulled out of the project in 2015,"
Wednesday, May 5, 2021
Thursday, April 29, 2021
Why a blog on CYPTO CURRENCY AND YIELD FARMING?
Simply put... why should we NOT write about this amazing technological achievement? Ask yourself this: can I really afford not to study the subject?
With the crypto age upon us, will you be one of the many who let it just pass them by? Or will you eventually come around, just a little too late to make much of a profit after the market has cooled off?
Anyone who knows anything at all about this subject will know exactly why blogs such as this one are needed and necessary as our global political and economic trading community begins to evolve out of the technology age, and into the crypto age the product of previous era.
What is the crypto age? Why the time in which, due to the development of protocols such as Bitcoin and Ethereum, we are able to begin the process of DECENTRALIZATION of our most precious financial assets: currency, money, credit, and any type of database information traditionally kept by centralized authorities such as: banks, insurance companies, state governments, educational institutions, voter data and much more. If it can be put into the form of computer bits, it is controlled by an authority without your best interest in mind.
Who can best trust to control and dictate your finances and information? Why you THE ACTUAL OWNER of that data.
This is the basic premise behind the system known as Bitcoin and its associated Block Chain protocol which in the early 2004 gave us for the first time, a coherent, simple and organized system by which this protocol could be developed.
Cryptocurrency is born.
Decentralize what exactly? Why every organization whether financial, political, health, or otherwise, which extends its control over the majority of state citizens and traditionally depriving people of various freedoms of use and control over OUR OWN PROPERTY, whether it be financial or otherwise.
Freedoms such as:
Controlling your personal information, who has it , who sees it, etc.
Controlling your finances, who receives them, and who knows about it
Controlling citizen data
Controlling where, when and with whom citizens spend their money
Controlling patents, intellectual materials, master copies, and other personal data now readily stored throughout the world in government and organization databases.
Then, finally continuing to control this information once the transaction is complete! Its seem less and quiet but its REAL.
These are but a few examples of how our traditional systems of centralization which grew out of necessity for security and consistency across, in particular, the global financial system, allowing select people to partake in it.
The key term there is SELECTED people. Traditional centralized systems generally exclude any persons they choose to, for whatever reasons they want... not very fair indeed.
The natural tendency of technology so far has been that states and central governments have gained more control over the populace.
This protocol reverses that trend, countering the balance toward the individual creating a system which exerts LESS CONTROL over the personal decisions, data and information relating to our transactions and banking.
Centralization, and its evil twins government OVERREGULATION and TAXATION begin a slow contraction as decentralized global cryptocurrencies and blockchain technologies proliferate.
This is only possible in an environment wherein each participant absolutely trusts the others, wherein confidence in the integrity of the entire transaction or state of trust is ALL BUT GUARANTEED.
Hence part of the premise of Bitcoin, and cryptocurrency industry which it has spawned.
A complex system of exchange wherein the a participants may ensure not only security of transactions, but also the data across an entire ecosystem.
That ecosystem in respect to Bitcoin is called the Bitcoin Network, but this is just one of many.
How is this possible? Creating alternate systems by which all people in all places can buy, sell and trade with a sense of security, confidentiality and freedom of choice.
