July Thoughts

Virtual Assets

Virtual assets, as we call them now, are cheaper than before with the falling prices. If you are buying the dip and lowering your average price by dollar cost averaging. It’s nice how Bitcoin with its low supply moves your average from your investment compared to other coins like Shiba Inu or Dogecoin that will barely move your average price. Some people are after whitelists so bad, just to get on a list for an NFT to buy. What is the urge to spend dollars on pictures? NFTs have brought art back into the mainstream somewhat too which has been cool. I minted a bunch of my photos and art but took them all off Opensea because It just felt lame. I wonder if there is a way to stop NFT duplication, where someone screenshots the photo or the NFT and then tries to upload it as sell on Opensea.

The beginning of Ethereum for me

Ethereum has no beginning for me in mining, it’s just been there and somehow became the crypto used for NFTs. I never paid any gas fees ever because I have never bought an NFT. Ethereum was created in 2013 by Vitalik Buterin, a dude born in 1994 and is an awesome rapper. Gavin Wood, another Ethereum developer created the computer language that creates smart contracts onto the Ethereum blockchain. Back in 2014 when I started mining on a laptop, I didn’t even take Ethereum seriously and now it’s a main crypto currency. It was just there, I think Litecoin was around back then too but I didn’t care much. Ethereum now is something sometimes better than Bitcoin to some; people may see a better return on investment. In the media I watch online, Bitcoin is the main topic though since everything follows that.

Crypto Ponders of the Week

One thing that Robinhood lacks is a stablecoin, if USDC is on Coinbase as something with “United States” in its name, then it could be on Robinhood. Robinhood added Chainlink, another cryptocurrency, but didn’t have a major pump like it would have had during the latest crypto bull market last year. USDC is a stablecoin on the Ethereum blockchain and is not the Federal reserve digital dollar. That is looking to be coming out 2023 from what they said on CNBC. If a digital dollar from the central bank here in America releases before the next presidential election, things will be weird with campaigns.

Some people have passed the angry stage of a market cycle and now the people left are the crypto maxis. Discord servers have had less chatter about crypto in certain ones. I went back in the Incubator to see way back in the “farming” channel who was suggesting those platforms that were going to fail and steal people’s money. The smart people are buying up crypto at cheaper prices, some think it’s all a scam and Bitcoin will drop to zero. Defi, decentralized finance, isn’t going to be able to stay I think because of how much these platforms are failing and just losing everyone involved. Why are people trusting sketchy ass platforms just to “farm” interest from your holdings? The platforms realize that once that stablecoin backing it up starts to depeg, and the platform knows it’s a “company” that can’t be sustainable they hit the no withdrawals switch. Banks are going to let you buy and store crypto on there computers, sort of defeating some purpose. I would only think Bitcoin or Ethereum, or it may just be any seed phrase for any wallet.

The beginning of Bitcoin for me

The first time I learned about Bitcoin was 4chan, in the military and just knew of it but didn’t own any. It was mainly for people wanted to buy weed or drugs off the internet from what I understood. That was 2009 or so, so basically when 4chan started talking about it in Bitcoin’s beginning. Then around 2015 in Iowa I mined a bunch of Bitcoin when the price of a whole Bitcoin was just $250 or so. There wasn’t any media coverage of Bitcoin because it was just internet money. Bitcoin came from the 2008 financial crash and was created to have sort of backup system. I guess the guy who proved he was the creator of Bitcoin, had blogs released around the same time as Satoshi did; according to google. Anyone can go read Bitcoin history online but for me the beginning was in Des Moines, Iowa when a fellow veteran at the VA was mining bitcoin, on his laptop.  He was also chatting in IRCs on his phone in the Anon IRC (Internet Relay Chat); like discord before discord servers. I then started mining on my laptop and that’s about all there is. I then broke that laptop with the wallet on it and all those Satoshis were lost forever.

 Be a nice human.

 

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