Bitcoin remains poised to breakout - though a sharp retracement along the way remains a firm possibility. Ethereum however, seems on its way to higher highs having blown past $400. This despite the network being crippled by very high fees. The knock-on effect is the dapps running on Ethereum are becoming prohibitively expensive to use. ChainLink continues to forge new highs with a slew of other cryptos also posting solid gains.
A week of wild rides for those playing in the DeFi space. Yams were a thing for a whole day until a series of protocol bugs derailed the whole project. Then Curve apparently launched before its developers intended it to - enabling a very shady premine. There are redflags all over this space…
Picks of the Week
This thread highlighting some of the best Bitcoin articles. Also this thread on the all too familiar and costly journey many Bitcoiner’s take… This report delving into the Bitcoin’s place in the market. Finally, this visual explanation of yield farming.
An excellent compilation of essential Bitcoin articles (highly recommended):
https://twitter.com/anilsaidso/status/1290768068373696512
One Bitcoiner’s journey - it might save you a lot of money (highly recommended):
https://twitter.com/potapac1/status/1292796404621090816
Another key aspect of Bitcoin’s appeal - portability:
https://twitter.com/matt_odell/status/1292078833361915907
Debunking Eth’s supply issue problem (highly recommended);
https://twitter.com/aantonop/status/1292877311570857990
Current FED monetary policy continues the failures of the past (recommended):
https://twitter.com/JeffBooth/status/1292143427480518656
The art of contrary thinking:
https://twitter.com/jsmian/status/1292413589882646528
On Defi in China:
https://twitter.com/celiawan2/status/1291795359958806530
Articles
A deep dive in Bitcoin’s value proposition by Adamant Research - email required (highly recommended):
https://docsend.com/view/ijd8qrs
Hodlers matter and here’s why:
https://www.danheld.com/blog/2019/1/6/hodlers-are-the-revolutionaries
7 flaws of the legacy monetary system:
https://medium.com/@ssaurel/the-seven-deadly-sins-of-the-current-monetary-and-financial-system-that-will-cause-its-collapse-41e4361679fb
New Bitcoiners are on the way:
https://hackernoon.com/here-comes-a-new-wave-of-mainstream-bitcoin-adopters-ot4j3y9o
Why a 51% attack on the BTC network isn’t as attractive as it may seem:
https://cointelegraph.com/news/why-chinese-miners-wont-stage-a-51-attack-on-bitcoin
A DeFi legend considers moving on:
https://decrypt.co/37995/exclusive-yfi-andre-cronje-broke-quitting-defi
A tale of a rotten YAM (recommended):
https://www.coindesk.com/yams-market-cap-falls-from-60m-to-zero-in-35-minutes
Beware DeFi rollouts (recommended):
https://twitter.com/lawmaster/status/1294120639792652288
Podcasts
Pomp talks Bitcoin and beyond (recommended)
https://open.spotify.com/episode/62ZfzaizWlXtYQPC11XfQm
How Bitcoin fixes banking (recommended):
https://open.spotify.com/episode/6wdI6e5eokR1ipid9aDQGj?si=w3-97wunTtW62tQQ8q4DVw
YouTube
Always lighthearted but nonetheless informative perspectives on Bitcoin:
Ethereum basics by some-one who wrote a book on it (highly recommended):
Another wide-ranging cryptosphere discussion from Colin:
What is yield farming - a clear explanation (highly recommended):
Data analytics explained:
Infographics
ChainLink has some competition:
twitter.com/CapitalistDog1/status/1291937366983225351/photo/1
DeFi ecosystem continues to expand:
https://twitter.com/Block_Ark/status/1291707457635377152/photo/1
Is this you? If you are an investor - it matters:
https://twitter.com/EsotericExposal/status/1292373813980622848/photo/1
Website / Utility
If you’ve got a lot of Bitcoin questions - this website has a lot of answers:
https://bitcoin.stackexchange.com/questions?tab=Votes
Another fascinating week in crypto. It’s only getting started. As always, looking forward your comments and suggestions.
Note on Sources:
Twitter & Reddit (cryptos current meta-brains) / Medium / Trybe / Hackernoon / Whaleshares / TIMM and so on/ YouTube / various podcasts and whatever else I stumble upon. The aim is a useful weekly aggregator of ideas rather than news. Though I try to keep the sources current – I’ll reference these articles and podcasts etc. as I encounter them – they may have been published just a couple of days ago or in some cases quite a bit earlier.
Plenty of action going on and DeFi seems to be the next hot topic. Wonder if Hive can get something going with that as it's an already established chain and has the capability for it... So many shady projects out there ripe for inexperienced users to fall in to their traps though...
Posted using Dapplr
Yes indeed, lots of opportunity in DeFi but even more scams!