What a week with Nvidia earnings blast off! It (briefly) became the third company to reach $2T in market cap and settled just a hair under on Friday. Can't wait to see what next week brings.
Happy Valentine's Day! Today, my blog gets a fresh start. With Bitcoin ETFs finally becoming a reality [1], I'm pivoting my investment focus. From now on, it's all about Bitcoin (no shady altcoins!) and how AI is changing the game for big tech companies.
So, I made a move... I sold my Bank of America shares (taking a bit of a hit, ouch!) and now have $60,000 burning a hole in my pocket. I've split that money equally between three stocks. I'll spill the beans each Friday with weekly updates and share my quarterly profit (or loss!). Here's why I'm excited for the next 10 years, and I hope you are too:
- TSLA: Elon Musk won't shut up about AI, and it's woven into Tesla's autopilot. If there's one company ready to make AI pay off, it's this one.
- MSFT: Microsoft's been all over the news for how fast they're adding AI to their products. Can you believe a $3 trillion company moves that quickly?
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FBTC: Why Fidelity's Bitcoin ETF over the others? I like that Abigail Johnson's been into Bitcoin for a while now [2]. Plus, their fees are reasonable, and they handle custody themselves and not use a third-party service like Coinbase [3].
Let's see where this goes!
Notes:
[1] https://www.nytimes.com/2024/01/11/business/dealbook/bitcoin-etf-wall-street-crypto-investing.html
With the arrival of BTC ETFs, I've decided to switch the blog into something different but still relevant to crypto.
Stay tuned for more! News to come in mid-Feb.
Wow, so this popped (free WSJ article) into my newsfeed today.
It's basically a URL with emojis, and people are paying thousands (and in some cases hundreds of thousands) of dollars to own one.
Even Michael Arrington, founder of Techcrunch, spent some serious money.
Investor Michael Arrington, who also has a stake in Yat Labs, says he recently spent $200,000 of his asset-management firm’s money on Rocket-Moon. Taking a rocket to the moon is a common refrain in the cryptocurrency world, and Mr. Arrington wanted to use the Yat as a branding tool for his Seattle-based firm, Arrington XRP Capital. Because users can’t buy one- or two-character combinations directly on the site, the only way he could purchase Rocket-Moon was by participating in a virtual auction hosted by Yat Labs.
If this Reddit post is true, this is a huge concern. CDC is a huge CEX and this would cause some softness to confidence.. but so far not seeing this affect crypto prices.
From Crypto.com's Twitter:
We have a small number of users reporting suspicious activity on their accounts.
— Crypto.com (@cryptocom) January 17, 2022
We will be pausing withdrawals shortly, as our team is investigating. All funds are safe.
I just made a transfer using the new Taproot address and my experience was fantastic. Cost $0.31 to send and 1x confirmed in under 20 mins.
I started staking Solana today. It's not easy or intuitive as one might think: you need to pick a validator, which there are many, to stake with. How do you pick a validator? There are many attributes such as voting, uptime, commission rate, etc. A website that is useful is Solana Beach (https://solanabeach.io/validators) which ranks the validators based on a "score" -- the top 20 are blanked out because the website wants new users to stake with others to reduce the reliance on a few validators.
That is how I stumbled upon the Nakamoto Coefficient which is a measurement of how decentralized a crypto is relative to the total number of miners / validators.
This website has a great summary of it.
What is the Nakamoto Coefficient?
As the wave of adoption in decentralized blockchains continues, it is important we pay attention to how decentralized these blockchains are. One metric to gauge the decentralized nature of a blockchain would be the Nakamoto Coefficient. The Nakamoto Coefficient represents the number of validators (nodes) that would have to collude together to successfully slow down or block any respective blockchain from functioning properly. The higher the Nakamoto Coefficient relative to the total number of validators, the lower the risk of collusion disrupting a decentralized blockchain.
I read Fred Wilson's post about buying crypto assets and a few names were new to me. I haven't heard of Arweave before but their website gives away free tokens for new users. So I gave it a shot and now have archived my first website. You can find my Archived website that is permanently stored in the blockchain.
The process to setup was super simple. You can try it yourself too. Let me know your thoughts and what future potential you think this token has.
I added some links to the sidebar. I hope you like them. Most are about tracking crypto activities. Please let me know what others you would like to see on the sidebar.