Market Snap (at time of writing)

Market Wrap

As the invasion of Ukraine draws near, risk assets are under pressure. Peter Schiff, a long-term and vocal critic of BTC has this to say:

“Investors buying U.S. Treasuries as a safe-haven given heightened geopolitical risk are making a big mistake. #Inflation pressures will actually intensify if #Russia invades the #Ukraine, which will further erode the value of bonds. The real safe haven from both threats is #gold!”.

My personal view is that gold has long lost its lustre, but I wish I had waited a few more days before going long of Wall Street.

Curious Cryptos’ Commentary – Super Bowl

Amazingly it is that time of year again. This annual sports extravaganza is not timed for easy watching in the UK, especially if one has a job to go to on Monday morning.

The ad slots are notorious for being the most expensive TV real estate of the year. 2022 sees a price of up to $7mm for a single 30-second advert.

Five crypto related companies will advertise during this year’s Super Bowl – FTX, Coinbase, eToro, Crypto.com and in Canada, Bitbuy.

In 2000, a commercial was broadcast by probably the most infamous dotcom casualty of all – Pets.com:

https://adage.com/videos/petscom-please-dont-go/900

Curious Cryptos’ Commentary – Trudeau is as illiberal as Trump-supporting Assange

Hard on the heels of the DAO (Decentralised Autonomous Organisation) set up to help Trump-supporting Assange to evade justice in the US, another crypto fund has been set up to support the Freedom Convoy protest in Canada.

For reasons that are not entirely central to this story, I am always top of the list for any new Covid jabs, and I gratefully accept them. I am also very firmly of the opinion that it is an entirely personal matter and decision as to whether any individual is vaccinated or not. That is, unless they base that decision on some guff about Bill Gates in which case they are clearly insane and cannot be trusted to make personal decisions.

The truckers have been denied access by the government of Canada to $10mm of donations from GoFundMe and $9mm form GiveSendGo.

It matters not whether you agree with the truckers’ protest – what matters is that their protest is entirely legal and should not be blocked by the Canadian Government. By overseeing this attempt to suppress legitimate democratic debate, Trudeau is following the example of genocidal leaders such as Putin and Xi, giving lie to the widely accepted belief that he is a liberal at heart. Not in my book.

…

But cryptos come to the rescue, as explained by writer Ian Miles Cheong:

“Bitcoin fixes this… They’d have to make cryptocurrency illegal in Canada.”

As probably the country most welcoming to the crypto industry, the current Canadian government is soon to learn that the crypto revolution is a guarantor of democratic rights and liberties.

Reserve Treasury Protocols (before they all go to zero)

Reminder – Olympus and Wonderland are, to the best of my knowledge, live viable projects. XEUS, FORT and JADE turned out to be scams, though they are still live scams. Scams are not uncommon in these Wild West fringes of Decentralised Finance (DeFi).

Point of order – a staunch and loyal supporter of the CCC has asked that I make clear that it is only my belief that JADE is a scam. The project is still very much alive, and there is a wide body of opinion that does not concur with my view. I am very happy to make this point – the CCC believes that consenting adults are allowed to have different opinions on a wide range of topics.

Photon appears to have won the prize for being the most extraordinary scam. In under 18 hours it went to zero. And as far as I can tell – and I am no blockchain analytics expert – they walked away with less than $30k.

It is very upsetting we have scumbags like that around.

Open positions:

Closed positions: