Ice cream might be so good — but is $10 million good enough to retire? Check out what CT has to say!
Gm,
There are natural phenomena that capture our attention and mesmerize us. Like Ice Cream So Good girl:
Crypto Twitter last week was almost as captivating and mentally unsound. You wouldn’t expect any less, would ya?
Whose Threads Are a Must-Read?
The thread section rebounded almost as hard as Jokic in the NBA Finals. And along with it did dinosaur DeFi coins. DeFiIgnas covered why DeFi coins have been bouncing the last month:
New old paradigm or just a dead cat bounce? According to the thread, it could still go either way.
The timeline has been very bullish over the last few weeks. Which is not a surprise, considering boomers like BlackRock are shilling Bitcoin.
That was the green light for other media to start being nicer to Bitcoin miners. Alex Ottaviani picked up four different positive Forbes articles about Bitcoin mining:
They all talk about how Bitcoin mining can benefit the grid and mitigate carbon emissions and how Bitcoin mining can reduce more emissions than its energy sources produce. Bullish.
The big bad ghost of macro doesn’t seem to scare anyone anymore. But Alex Kruger still wrote an insightful thread about the recession that cried wolf ─ is it eventually going to show up?
The thread is a bit technical, but here’s the takeaway:
- The yield curve inversion has traditionally been seen as a reliable leading indicator of an upcoming recession.
- The yield curve model appears outdated and may not be as reliable as it once was.
If we don’t get a big bad recession, then many think now could be the time to load up on promising coins. And what could be more promising than new Ethereum layers?
Wait, you’re saying you are not aware of yet another layer being built on Ethereum?
The DeFi Investor is going deeper with a thread about Ethereum L3s:
The TLDR:
- L2s offer cheaper and faster transactions than Ethereum L1, but are not scalable enough for certain applications.
- L3s are built on top of L2s and offer even cheaper and faster transactions, making them ideal for applications such as games and orderbook DEXs.
- L2 projects benefit from the adoption of L3s, as they generate revenue from transaction fees.
Not everyone is sold on the coming hypercryptofication. Quite the opposite. Some, like Edelson, used to be crypto believers and aren’t anymore:
What price will it take for believers to become bullievers again?
Wisdom Of The Week
Once you realize that it’s not the number on the screen that matters, you will be set:
Enough of the motivational talk though. Here’s what you really need to watch:
Elon Building Twitter
Elon was back to his “building Twitter and announcing updates” part of the monthly cycle.
Twitter introduced revenue sharing, resulting in a nice airdrop of fiat tokens to those big enough to receive some:
But things are still anything but going well business-wise. Twitter continues to be down bad, according to Elon:
But let’s look at the bright side. It can’t be all that bad if Elon still has time for shitposting:
Talk of the Town
Big last week for the crypto townsquare, but when is it ever not a big week?
We kicked off with Arkham, which drew attention from CT due to its recently launched intel exchange:
Anywho, moving on from the non-feds, there were more big bulla news when the Ripple lawsuit verdict came in with a win on points for Ripple:
We covered the verdict and its ripple effect in Ripple Wins Against SEC! What's Next?
What we didn’t cover is the many reasons why this could mark a definite turning of the tide. Good thing the next irrationally bullish influenza is inly ever three clicks away:
Vance Spencer is also irresponsibly long, or as he prefers to say, “riding the wave of waves:”
The bull market is definitely on for this guy, who went more than irresponsibly long on Rollbit:
He’s still a far cry off retirement level money, according to Crypto Twitter. Because on a late and lazy Sunday evening, what’s more interesting to discuss than totally irrational “made it” numbers?
This kicked off a whole discussion on whether $10 million is even enough to retire:
So if you’re still stuck in pleb mode, don’t worry. So is the entire CoinMcDonald’s team:
Memes
Superb lulz and solid investment advice on the timeline last week. Remember that you won’t make it to $10M if your analysis is more sophisticated than “crypto coin so good”:
The market will stay retarded longer than the liquidity can stay sidelined:
And even if for some reason you don’t make it, just switch to the NFT standard and you’re good:
That’s all, see you next week!
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