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Crypto Research

How to survive in the crypto market barely

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Another major blow in the crypto market – the collapse of FTX. If you joined in the crypto space and still here for more than a decade. You thought you had seen enough. Apparently, you have not!

You knew crypto is volatile and gambling-like, but you still want to enter? Why?!

Having cash on hand is way safer than crypto, but you still want in.

You hope one day, you can become a millionaire with your crypto shill, but people always stand in front of you to block your dream.

In Crypto, the rule is there is no rule.

People in and out quick and bank run-like events happening all the time that you do not realize how frequently this has happened.

The gold rule of “not your phrase, not your wallet” has been evolved into “not your wallet, not your money”.

You know you are luring into a crypto exchange to put your money to earn a dreaming rate with the huge risk of defaulting one day that you cannot even withdraw your money faster. 

Yet you still are going to put your hard-earned money into someone’s hands without considering put into a bank that is safer than someone you thought you knew.

There are so many people getting rich in crypto, but many more people lost their money in crypto. Yet you do not care about losing but the pursuit of winning it all.

You hope one day, crypto will turn 1,000% and it did in a decade. But along the decade, there are 75 well-known crypto exchanges shut down of total of around 500 already. Never mind, you still got 500 more exchanges alive.

No problem, you will pick one of the best and biggest crypto exchanges and put your life-saving into their hands because crypto is the future.

Another decade is the winning strike.

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Crypto Research

Mother of all bubble

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We are heading into a bubble economy and there is one that is about to pop.

ChatGPT suggests that a financial bubble is:

A financial bubble is a situation in which the price of an asset, such as a stock or a commodity, becomes artificially inflated due to excessive speculation and investment. This can lead to a situation where the market becomes overvalued and eventually collapses, resulting in significant losses for investors. Bubbles can occur in a variety of different markets and can be caused by a number of factors, including low interest rates, economic growth, and investor sentiment.

Let’s take Tesla as an example.

Tesla CEO is Elon Musk, who purchased Twitter last year and believed the company can help Tesla to make more profits.

Does it? Or he tried to inflate Tesla instead?

If you go to Twitter, there is less opposition than a supporting voice.

Elon Musk sells Tesla cars and Tesla stocks.

People purchase cars to help pump the stock price and when stock price goes up, people want a new Tesla.

Despite all the bad reviews about the car and its questionable autopilot feature, Tesla cars sold quickly and stock goes up no question.

Is this a Ponzi scheme?

Similarly, cryptocurrency is also highly speculative.

It goes up a time to time, but people buy the narrative without further investigating how useful the crypto really is.

What if people stop buying the crypto, will that still go up?

What if the economy is so bad and the interest rate is high that people have less money to buy more crypto?

We will see how it goes.

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Crypto Research

One more thing NFT can do

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California will have a pilot program to use NFT to record car titles as an innovation of record management. 

ChatGPT stated NFT is:

NFT stands for “non-fungible token.” It is a digital asset that represents ownership of a unique item or piece of content, such as a digital art piece or collectible. NFTs are created and stored on a blockchain, which is a decentralized digital ledger. This allows for the creation and transfer of ownership of digital assets in a secure and verifiable way.

Finally, the government has realized the use of the blockchain, and it will reduce government spending while providing more accurate information to citizens.

I think blockchain has more utilities other than money. Digital money is the first step in testing society’s compatibility, but the blockchain should focus more on providing services rather than investing to people.

That blockchain service can be essential for society later rather than simply going to moon-style investments to create unsustainable pump and dump.

Such government collaboration is the first step to making blockchain a social system.

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Crypto Research

Why Ethereum killers are killing themselves

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Ethereum killers are killing themselves!

ChatGPT described the Ethereum killer as:

Ethereum killers refer to other blockchain projects that aim to surpass Ethereum in terms of features and adoption. While there have been many projects that have attempted to do so, Ethereum remains one of the most widely used and well-established blockchain platforms. Additionally, Ethereum is continuously evolving and implementing new upgrades to its network, making it difficult for other projects to truly “kill” it. However, it is important to note that the crypto and blockchain space is highly competitive and constantly evolving, so it’s possible for new projects to gain traction and potentially challenge Ethereum’s dominance in the future.

But they missed several points.

When those killers market themselves are better choices, they forget the on-dock experience that allows developers to transit from one blockchain to another.

There is no way you can ask developers to abandon their existing projects and choose your blockchain with no reason simply it is faster, cheaper, and low fees.

Of course, multi-chain is one way to connect with other blockchains, but it still needs to have security without the chain to be hacked.

It is simply to risky to transfer from one chain to another.

Another factor is scalability.

It is too overrated. With the faster scalability, you are likely to die fast too.

There is no way to build a community with speed and hope people will stay there to root for you.

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