BSC degeneracy, BTC/ETH, and Carter Thomas returns
I spent more time yesterday messing around on BSC. I threw another 2 BNB across the bridge so I could go farm the highest APY pools on Beefy. I can’t bring myself to get involved with gambling projects, even if it is 3.4 quadrillion APY. I threw some funds at Blizzard.Money (BLZD-BNB), and Nerve.Fi, both in the NRV-BNB pool on Pancake and the NRV-BUSD. I don’t know what I expect to do with all these small positions, other than test the waters before I go and do something truly degenerative with my funds. Most of these projects are clones of each other for the most part. I can’t really tell the difference between them for the most part. I’m not sure whether I fear a rug as much as I do a IL at this point, but I wanted to get on here and get it out of my system for the most part.
I’ve got another block of funds that have made their way from my traditional IRA. Now I’m got to wait for an ACH transfer so before I can wire the money over to my exchange, it will almost double the amount I have available in my crypto wallet, and since I’m calculating my position size off of a two percent capital risk, I’ll be able to take larger position sizes. I’m still working off of a 40/40/20 BTC/ETH/DPI allocation. Half of my ETH position (out of current available funds) went into FLI, and that seems to be going well with ETH over $2100. I have half my allocation in DPI that went straight into BasketDAO, and I’ve put some low risk allocations into eRSDL, API3, and a FEI Genesis TRIBE preswap that I’m sitting on.
There’s so much going on right now, we’re going to see a ton of launches next week, so the 15th is going to be nuts. Cryptotwitter and the various Discord and Telegram groups are keeping me busy. Plus Elder is on spring break this week, so that’s shifting the dynamic around here a little bit. And I’m closing out projects at Zombie, LLC, doing about an hour of work in the AM to keep things moving along.
Bitcoin seems to have become a stablecoin the past week or two, and there’s a huge sense of tension on my networks. The general feeling is of pressure building up, that once the lid gets blown off $60k that we’re going to see a $10k daily candle or something. Rumors are circulating that Walmart is stacking, and there’s so much good news floating around that I’m amazed BTC has just been flatlining for the last several days. My personal opinion is that it’s just altcoins going crazy, with a lot of volatility. The altcoin market cap has gone up a significantly, I read it was due to more coins being added to CMC, so the dip in BTC dominance probably doesn’t mean what most observers thinks it means. On chain indicators are still very strong, so strong in fact that some people think we are very early in this bull cycle.
I still think ETH will outperform. The news coming out about EIP1556 and the ETH1<>Beacon chain merge is looking like ETH is going to melt faces. That said, I do have plans to take positions in more of these L1/L2s. I have positions in RUNE, AVAX, DOT, and ATOM which I want to expand and experiment with, and I’ve been procrastinating on getting SOL. (I had a trade position, but it got stopped out.) It is very hard to get access to most of these as a US citizen; I have to use a French VPN endpoint to get access to exchanges were they are located, and it’s sad that I don’t have access to some of the futures and perpetual swaps that FTX has on their international exchange. It’s sad really, but that’s where the money is.
I’ve got some positions that I need to check on this morning. I’m going to let the BSC pools sit for a few days, but BasketDAO has apparently migrated DPI to BDPI, so I need to check on that. Then it’s time to get the kiddos up and get ready to assume my position at my desk for business time.
One last personal note, I had an interview with the Lattice1 team yesterday about taking on their technical support manager role. It went well, they’re impressed with both my support background and knowledge of the Ethereum stack, and I think they have a great team and great product. I think the main question I have to answer for myself is whether I want to go straight back into full-time-employment after I’ve been building up my reFIREment in my head. I don’t think it’s a hell ya at this point for me right now, but I think once Missus goes back to work and Younger goes to Kindergarten it’ll be easier to manage. I’ve got other open opportunities as well, one with SetProtocol and another I might be able to leverage with a new startup team that’s launching. Still, nothing beats the dream off working for myself, starting my own company or organization. Homebrew is going to take some time to get going, and I know if I take a FTE roll that it’s probably never going to happen. There’s no rush right now, so I’m taking my time. I feel like I’m in a very good position in life, and I don’t need to do anything I don’t want to right now.
With that said, I was very pleased to have been alerted to this latest video from Carter Thomas. Carter did daily podcasts during the 2017/18 cycle, and my videos were my daily dose during those days. He quit producing content for a variety of reasons, but dropped this video last week. Its about ninety minutes long, and I watched the whole thing last night. It’s a huge dose of common sense that will help people survive this cycle, and I encourage everyone to watch it.