Musing Time
Friday morning, time to throw a new Market Musings online. And this week that is not so difficult. It looks positive according to most analysts. Bitcoin has broken through a months-long consolidation phase and appears to be on the rise. It is expected that a serious cooldown for Bitcoin is in the offing soon, but price-wise and theoretically Bitcoin may even fall back to a price level of around $25K to maintain a bullish scenario. Now, of course, none of us hope that this will happen, although ... I can also imagine that there are people who would like to see this. Any way you look at it... there is room for Bitcoin to move. And movement in that market, that's what we were all waiting for. The time for the flips seems to have arrived! And with the age of flips, the time for making money through these flips also seems to have arrived again. I don't know, but for some reason it may become attractive again to look at their rebalancing functionality on Waivio and start flipping there with a bit of Hive / HBD. If we have entered a period of price volatility again, this could be an interesting option. Especially at times when the inspiration to blog is very low. It could just lead to some opportunities.
GUILTY!
Other news this week that the crypto world might be interested in is of course the fact that Sam Bankman-Fried has been found guilty of billion-dollar fraud. He was found guilty by a jury of all seven charges against him. These complaints included bank fraud and conspiracy to commit bank fraud against FTX customers. But also bank fraud and conspiracy to commit bank fraud against Alameda's lenders. As if this wasn't enough, this also included conspiracy to commit securities fraud against FTX's investors and conspiracy to commit commodities fraud against FTX's customers. And finally, he was found guilty of conspiracy to commit money laundering. Pfeww, it's a nice list. It would make his curls sag. So many serious complaints against him, and found guilty on all fronts. Sam himself did not testify that he was guilty, but he did admit that he had made mistakes. Some smaller and some major mistakes. Yes sure Sam! Even though he testified that he had not knowingly committed fraud, the jury did not need more than 4 hours to find him guilty. The verdict will be next year, but it could result in a very severe punishment. Sam risks no less than 115 years in prison. Although until then it remains to be seen whether 115 years will actually be required.
CUMROCKET, TWEELON, TOTALLYARUGPULL, MAFIACOIN
As a final musing today, I have a piece for you that shows that people in crypto really know how to come up with something new every time. We all know about Memecoins, right? Well, forget the DOGE, SHIBA, MARS, PEPE, HARRYPOTTEROBAMASONIC, BABY, BONK, MILADY, RICHQUACK's and bet big on MEMEINATOR.
This new memecoin is going to make it big and the best thing of all is that the end goal of this memecoin is to create a shooter game in which an AI will track down all the bad memecoins and that you as a player can virtually destroy these coins.
Now of course we all know that crypto people are innovative and that they also enjoy a game every now and then. So in that respect it can be a direct hit. But, and maybe I'm just too down-to-earth, I don't think I need a game for this at all. The crypto market itself is much better at destroying all the memecoins than I probably could be with a shooter game... For that I just have to look at the value of the FLOKI, TURBO, PITTBULL, MONGCOIN, CUMROCKET, WOOF and GARLICCOIN . How necessary is it to virtually shoot down these coins, if the market has already completely crushed them? It's nice that you want to develop a game... but you can also do this without letting people buy into a token that is guaranteed to fall through the bottom again after an initial rise. Or do they expect a trip to the galaxy for their token? Oh wait, I forgot... as an investor you can win an all-expenses-paid cosmic trip with Virgin Galactic.. Well, if that trip is paid for winner, then significant investments will have to be made.
I wish everyone who still sees something in this the best of luck, maybe I have just become a bit too skeptical... but in any case, I have decided not to put any hard-earned HIVE / HBD into this.
Plans for the bull
Now that the bear market seems to be slowly coming to an end, it is time to start thinking about what happens next. What am I going to do in the near future, and how am I going to get there? How am I going to make sure I don't see everything evaporate again? For me, that doesn't include investing in Memecoins... But making sure I secure things so that the next bear market doesn't force me to my knees again.