Will the SEC cripple Ripple? What does this signify to coins deemed not a security, such as Bitcoin, Ethereum…and Kin?
Since the SEC lawsuit against Ripple, the XRP token has taken a big hit, down to $.20 from $.66 in a month, a 68% drop. The last time XRP was this low was 6 months ago, July 2020.
Meanwhile, KIN, a token whose creator Kik Interactive has just settled with the SEC, has gone up over 1,792% in the past year.
Some see similarities between the two cases, others differences. The XRP Army is more likely seeing similarities, as a win for KIK must mean a win for Ripple. XRP is a token that helps transmit value, same as Kin, so XRP must win the case, right? …
“My centre is giving way, my right is in retreat; situation excellent. I am attacking.”
Quoting Field Marshall Foch in the Battle of the Marne, Kik/Kin investor Fred Wilson defiantly surveys the field in his blog post “Hard Decisions” after deciding to close Kik, laying off 95% of the staff to focus on Kin.
This was back in September 24, 2019.
Leaving only 19 core members of the Kik team to focus on Kin through their SEC fight, it must have felt grim, but the post reflects his determination.
Of course, a legal win for Kik would have been the hoped for outcome, but if you look at their end goal, the case can be made that Kik won by losing. …
“Savings” is a misnomer. It should be called “Hemorrhaging.”
If one takes the top 10 Bank US Banks and averaged their savings interest rates, the result would be .33% APY. In other words, a third of a percent per year. If you invested $10,000, that would net you $33 by the end of the year.
Did the Carnivore Diet dissolve my Gallstone? An Update…
Back in January 2nd, 2019 I wrote the following:
I was very specific about the title. I didn’t say that the Carnivore Diet cured my gallstone; it did cure the attacks I was on the receiving end of every couple of days.
For someone who spent every other night for a month, from midnight to at least 6am in sleep-deprived agony, having the pain magically stop was nigh well a miracle.
And being pain free has continued to this day.
In that article I explained my interpretation of the science behind why this would work, as well as cited the studies that back up my recovery. This article will present my personal tests as well as my theories, on how I am dissolving my gallstone. …
We’re about to find out what happens when an deflationary asset explodes across an infinitely expanding economy.
“The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind.” ~ Gordon Gekko, Wallstreet
Satoshi Nakamoto must have thought long and hard before unleashing his creation upon the world. …
The News is in: KiK Settles with the SEC regarding Kin. Can I get a “Hellsyeah?”
The long nightmare is over.
No, I’m not talking about the election.
What I am talking about is the recently settled court case of Kik v. the SEC. The court case hinged around an unregistered “Kin” token sale in 2017 that raised $100 million dollars. The short of it is that the SEC won the case, and instead of going for an appeal, Kik Interactive decided, much as EOS and SIA did, to settle.
This is a prudent decision.
Kik’s initial action to fight the SEC was to force the court to create a legal precedent regarding the SEC’s regulatory overreach in the blockchain industry. When the SEC’s position was instead reinforced by the court’s decision, whether to settle simply becomes a business decision — continue as a company, or die in the throes of fighting a battle that Kik alone cannot win. …
From Blockfi, to Crypto.com to Fulcrum: the search continues for high yield…
Not sure if it was the tweet about my article “Switching to Crypto.com from Blockfi, A Misadventure” that did it, but after 8 days Crypto.com finally got things squared away, and I started earning interest.
All of the BTC and USDC funds that I had on Crypto.com and moved to Blockfi now had to be moved back to Crypto.com.
Blockfi has a 48 hr wait on transferring funds, which is at least better than the Crypto.com withdrawal confirmation email that never arrived I experienced previously with Crypto.com.
But I was willing to give Crypto.com a second chance. …
TL;DR: Moar Interest, Up to 12% on Crypto.com vs. 8.6% on Blockfi. Also, FDIC insured. The “Earn” button doesn’t show on my app. Trusted Centralized Third Parties only work M-F, 9–5. Crypto.com thumbs down!
Okay, after a delightful couple months earning 8.6% APR on Blockfi on my USDC (US Dollar Coin), as well as 5% on my Bitcoin deposit, my brother told me I should look into Crypto.com, saying that I could earn up to 12%.
After briefly perusing their website, it looks like the 12% is reserved for those staking 500 of their native coin MCO, which was currently retailing for over $5. $2,500 to get 12%? …
Connect CoinMarketCap crypto coin daily pricing with an auto-updating Google Sheets. Track your coins, and mark if they rise or fall a certain percentage.
UPDATE: The formula previously used for pulling in crypto pricing no longer works. The article, and sample Google sheet has been updated with the correct formula, which is:
I wouldn’t say I’m in love with spreadsheets, but I do appreciate the way they bring clarity to tracking, and help to comprehend numbers that change over time.
Bringing in Bitcoin pricing is just the basics. You can make cells and fonts change color based on a percentage rise or fall, alerting you to major and minor trends, which you can then act upon. You can make pretty charts that place the trend front and center. …
Sick of getting a .05% savings rate? Yeah, me too.
With the average inflation rate in the US at 1.5%, I calculated that I was actually making a negative -1.45% APY on my money parked at the local credit union at .05%.
“Savings” becomes a misnomer; it should really be called “Diminishings.”
With the Central Bank’s money printer going infinite Brrrrrr, can higher inflation be far behind?
There’s even talk of negative rates coming to the US. Why not — Sweden, Denmark and Japan already have negative rates. The US will not be immune to this financial experiment. …