February 21, 2022
WAS THE GAME REALLY OVER? WAS THIS WHY CRYPTO DISAPPEARED IN THE 22ND CENTURY?
As many don’t realize- who have not been following this blog. I am the Commander of the Starship Omega, assigned to investigate the activities of the CryptoSphere on Planet Earth in the 21st Century. How I got here or even who I am, I hardly remember at all. Further, it is strange but I entirely control the operations of a giant Starship- whereas something tells me I can barely iron a shirt.
I have been put here and am expected to make regular reports to the Interstellar Alliance headquarters that is supposed to be located on Earth, possibly hundreds of light years away and somewhat after the 22nd century.. But wherever I am, I am far more in the distant future than the Alliance. And the reason, the Alliance squandered their last few Doge coins, (each supposedly valued at $375,000 – I take it $s or Dollars were a monetary measure of some sort) to get me here by Faster Than Light travel- was they also were vitally concerned about what they knew of the past. The members of the Alliance woke up to an Earth century like myself, abut many years later than the events they are so interested inr- and a great deal of their history was gone. In particular, there were only some intriguing tidbits about cryptocurrency, which seemed to them to suggest something important about their vanished past. They sent me out to what I know call the Cryptonic Galaxy into God knows what century in the future because signals from Earth could capture what happened centuries before on Earth. Strange karma for an almost total amnesiac sent here by perhaps almost total amnesiacs.
But. for the moment, February 21, 2022 E.T. (Earth Time), which I am picking up today, doesn’t sound real good. But if I understand anything about the CryptoSphere, it’s definitely volatile.
Since I arrived here, I have regularly followed Chris at MMCrypto. This recent message, posted God knows how many centuries ago, seems to be a continuation of a few crazy months. The Alliance equipped me with a type of video game that allows me to post daily- so I am a kind of ghost investor in Crypto. So when I talk about bids, you can assume they are theoretical. What am I going to bid for? Assets that disappeared hundreds of years ago.
After speaking about a recent video where MMCrypto warned about an emergency for BitCoin, he now says he sounding a RED ALERT. The M pattern that was forming is about to be rendered incomplete as BitCoin solidifies the breakdown the downside. He posted between $41-$2,000. Not as a prediction but a possibility As I write this, BitCoin is now $38,541.96. Chris reiterates what I mentioned in my previous blog, Chris does not believe that BTC will fall beneath 30-32,000, the original buying price for Michael Saylor, BTC’s major player along with other large, well-financed institutions and investors.
When I first heard this video, I saw clearly that this might be the end of Crypto disappeared- vanished in massive volatility and confusion. But Chris always has a way of comforting me about trajectories. Anyway, since I first started writing about the price (in the last paragraph), it has edged up a bit.
BITBOY, ANOTHER FAVORITE OF MINE FROM THE 22ND, QUIETLY ANALYZES THE CRASH
It looks like Ben Armstrong’s BitBoy channel is now called “The People’s Channel.” Ben combines a family, sports-minded, colorful and pleasant manner (most of the time) with an obvious Empire-building aspiration. Or perhaps by now, the Empire has been built and it is no longer just an aspiration. Nonetheless, maybe he has only started.
Nonetheless, besides his skillfulness as a commentator on minute details of the CryptoSphere, he also seems to have a great deal of ordinary commonsense and sympathy for the new and inexperienced investor.
Although this video was recorded awhile ago, BitCoin is still holding around in the 38,000 area (ooops, now down to 37,619,21). In speculating about the reason for the downturn, he talked about the large Open Sea hack. Whatever the reason for the event, Ben does not have a lot of confidence in Open Sea’s interpretation of what happened- but even though there was some price action downward motion when it was announced, Ben does talk about the Ukraine/Russian problem hanging over markets. He believe this and other geopolitical concerns may be having an effect on the price action. Still, he does not believe this will go lower than he proposed- mainly because the short term retail investors are probably sold out to a large degree and the institutional investors want to keep on certain levels as explained.
BRIAN ROSE OF LONDON REAL SPEAKS TO JEREMY ALLAIRE ABOUT THE DIFFERENCE BETWEEN DIGITAL PROPERTY AND DIGITAL CURRENCY
Brian Rose claims to have picked up from Michael Saylor that value of digital currency as well as digital property, a factor that moves Michael Saylor to speak so often of BitCoin as a store of value, cannot be ignored. Jeremy Allair, a founder of Circle, then asks us to imagine about a “synthetic digital currency” that is backed by both Crypto and government fiat money and that might, in the future, create some stable security for the commodity in question.n;;
Jeremy states emphatically that he is very long and BitCoin and Etherium. BitCoin itself is often called digital gold. Interestingly, he believes that the efficiency of usage and trasactionability of Etherium gives it much more utility than gold. Intuitively, he definitively believes that within ten years, it is perfectly possible that BitCoin could reach a million dollar mark.
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HOW DO WE HANDLE THE RAPIDLY INCREASING EFFORTS AT CRYPTO REGULATION? OR SHOULD WE JUST HIDE? COME TO THINK OF IT… IS THAT REALLY A GOOD IDEA?
The fact is, just using common sense, I think hiding is a very bad idea. But how much do we need to know- that can tangibly effect us in our part of the world- or for humanity on a greater scale? Personally, I think that all of us have choices to make. How much information can we absorb? How much should we?
According to Andrei Jikh, a very clear and articulate commentator- during this time, the Security and Exchange Commission has been bearing down on a company called BlockFi, compelling them to pay something like $100 million in a settlement with the SEC and various states in the U.S. over its interest accounts. That sounds like a lot. I remember a Star Trek episode I happened to find where it was said there was no money used in the Federation. How was that possible? It’s possible for me because everything I need is here and there are no people around to trade with.
Anyway, this BlockFi company ran into trouble because they were supposedly running a non-registered security company and paying out interest on people’s investments. They also threatened Celcius, Gemini and Coinbase. Coinbase, as a result, cancelled their plans to provide interest to their investors. As is explained in the following video, BlockFi announced it was making substantial changes in their current protocol, resulting in depriving future United States investors of a chance to gain interest on their investments. If you have BlockFi, you need to pay careful attention to this video. In the future, these changes could be amended if a new BlockFi proposal has been accepted.
Wny is this happening? Because the amount of interest, Crypto companies can bring to the table, as much as 10% per year, considerably dwarfs the fiat money interest rate of something like .06%. APY. Obviously, if one understood how this worked and wanted to make interest and believed in Crypto companies, why would anyone not try this? Probably because they don’t know or are skeptical. Anyway, the fact is these Crypto companies are not regulated and there isn’t much proof that they can withstand some of the volatility of Crypto and other factors to be able to come through on their promise of interest.
There is a lot here in this video- in a concise and clear way. Check it out to find out more.
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