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Hey Nerds: Blockchain

LeafOfFaith said:
I already treat them as look away holdings. I don't focus on them because I hate them now but also because I'm pretty red and I won't sell at a loss, so there's nothing to do, except add, and I'm not loving the idea of using aggressive moves on something I don't like much anymore.
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On a longer term timeframe I don't have many doubts that you'll get it back tbh. The risk is federal legalization and them losing that moat around their business that allows them to operate effectively without any competition and demand outcompeting supply for the foreseeable future. But as I said, I don't think the US moves anywhere meaningful on legalization. In a perfect world they can uplist well before that point. That's the ultimate ticket.

If these death slides had anything to do with fundamentals it would be a lot more concerning of course. Just cyclical things is all. It's how weed stonks operate. As an investor, it's times like these where going value hunting is crucial. And hey, it could get a fuckton worse than this so patience is required too.
 
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It sucks because there are some deals on other things I would like to take a flyer on, but I don't necessarily want to throw lots of free cash at them, and would love to just shift over the money from the weed stocks to the other stuff, but alas, them's not the rules of the game.
 
Back in the trading saddle after a few months of chilling.

Swung BABA and SNAP for daily gains...for the LT account, I nibbled on pot stocks and Ethereum (my first crypto move!)
 
Took a nibble last month on another biotech gem that I think I mentioned here (or what I thought was a gem after doing #MyOwnResearch by getting opinions on experts who fawned over them). Tried to #FollowTheScience with this one but started doubting myself as it tanked ~20% with my pot stocks.. Dropping every day. In another world (perhaps a world where my pot stocks weren't dead) I would have averaged down and had more conviction. That is my only regret here.

Anyway they got swallowed by Pfizer today.

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I don't have enough to jump up and down for joy but it helps slow the bleeding elsewhere.
 
Cojo said:
Your Ethereum move is long overdue!
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I finally understand (I think) the investment thesis...which is kind of important to me for an LT move.

Will have to spend more time researching it
 
Preston said:
Took a nibble last month on another biotech gem that I think I mentioned here (or what I thought was a gem after doing #MyOwnResearch by getting opinions on experts who fawned over them). Tried to #FollowTheScience with this one but started doubting myself as it tanked ~20% with my pot stocks.. Dropping every day. In another world (perhaps a world where my pot stocks weren't dead) I would have averaged down and had more conviction. That is my only regret here.

Anyway they got swallowed by Pfizer today.

View attachment 9923

I don't have enough to jump up and down for joy but it helps slow the bleeding elsewhere.
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I scored on TRIL as well....been holding it forever starting at $5-$6. It's been a rollercoaster.
 
CH1 said:
I scored on TRIL as well....been holding it forever starting at $5-$6. It's been a rollercoaster.
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It felt MSOey where the fundamentals did not line up with the price action. But I was a little worried that I misread the situation at times.. I find that kind of inefficiency is not as common on the Nazzy and maybe I didn't know something (with this sector one piece of bad news can kill a company forever as you know).

But sticking with the science has paid for me in the past. Trusted myself, but not enough to go deep and that was purely psychological because I've been getting hit elsewhere too at the same time and didn't want to add on any risk. Bleh.
 
Preston said:
It felt MSOey where the fundamentals did not line up with the price action. But I was a little worried that I misread the situation at times.. I find that kind of inefficiency is not as common on the Nazzy and maybe I didn't know something (with this sector one piece of bad news can kill a company forever as you know).

But sticking with the science has paid for me in the past. Trusted myself, but not enough to go deep and that was purely psychological because I've been getting hit elsewhere too at the same time and didn't want to add on any risk. Bleh.
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Small Cap Biotech is a war zone. The stocks get crushed all the time, so you really need to feel confident about the science to wait out extended periods of frustration.

I waited a long time for GWPH to get its due.
 
CH1 said:
Back in the trading saddle after a few months of chilling.

Swung BABA and SNAP for daily gains...for the LT account, I nibbled on pot stocks and Ethereum (my first crypto move!)
Click to expand...

I'll drop some resources for you on Eth once I get the kids shuttled. off to daycare lol
 
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Ok, so here are some resources for you (and others), to help you get started with Ethereum.

For a general understanding of Bitcoin and Blockchain tech, I would suggest to start with the book The Bitcoin standard, by Saifedean Ammous. I did the audiobook version myself (I believe with audible you get your first book free when you sign up for the 30 day trial- worth it), which was a great, informative listen. Discusses the history of money and the gold standard and posits some very interesting theories.


I could give a writeup on what eth is and what it does, but the hour I'd probably spend on that can be shaved down to about 30 seconds of copying and pasting to give you this video (26 minute watch/listen):



There are a lot of different youtube producers out there, and a lot of them are straight trash. Generally, Guy (Coin Bureau), aside from cringe video thumbnails, is a good watch/listen. He focuses more on what projects do and how they are developing, as well as providing a weekly news update on crypto, which is handy if you want to save time and effort digging through stories yourself. Also, all of his videos are indexed in the timeline. That comes in really handy for when you want to skip a part of a video. There is a producer out there for everyone, though, so if you don't like his content you can probably find something more your speed.


Most blockchains will have a whitepaper. It's basically a mission statement explaining what their blockchain is and what they want to accomplish with it. Here is Ethereum's. It is a long read, but probably the best, most direct dive you could take into Ethereum:

ethereum.org

Ethereum Whitepaper

An introductory paper to Ethereum, published in 2013 before its launch.
ethereum.org ethereum.org

I'll touch on Eth ETF's, too. I'll use the CI Galaxy Etherum ETF (ethx.b), as the example (speaking of, I ended up sellling my options on that for 200+% profit. Not peak, but damn nice).

CI Galaxy Ethereum ETF (C$ Unhedged Series) | Overview | CI First Asset

CI Global Asset Management, a leading provider of Exchange Traded Funds (ETFs) in Canada, offers a comprehensive suite of ETF solutions. Rooted in strong fundamentals, the diverse and specialized lineup of CI First Asset ETFs strive to deliver better risk-adjusted returns than the broad market...
www.firstasset.com www.firstasset.com


Also, here is a link to a much better written breakdown on ETH ETF's:

www.greedyrates.ca

Canada approves Etherium ETF. What does that mean?

Cryptocurrency just got a little bit easier to invest in.
www.greedyrates.ca www.greedyrates.ca


So, this could be the case for all ETF's (I'm not 100% sure), but with this Eth ETF, my understanding is that when you buy the ETF, the fund then goes out and buys the corresponding amount of eth. In the CI ETF, 1 share is equal to 0.003693 ETH. So if we use the old Rate=Portion/Base equation, we get 271 shares (270.78.....), equal to 1 ETH. You do not hold the keys to this Eth, though. The fund does. In the CI fund, they use Galaxy Digital as custodians for the crypto in the fund. This means that you cannot transfer the coins, or use them to generate interest through staking. Speaking of staking....


Eth is currently a PoW (proof of work), coin. This means that blocks are mined and miners are paid a reward (in Eth), for mining the blocks. You may see a lot of EIP-1559 when you search for information regarding Eth. So, the transaction fees for transacting on Ethereum used to be paid to the miners. Now, a portion of the fees will be burned (ie that Eth will no longer exist). This scales based on the amount of transactions per block. So, if Ethereum see's enough transactions, more Eth will be burned per block than what is produced (as a mining reward), causing Eth to become deflationary. The first video I posted goes over this briefly as well.


Eth will be switching from PoW to PoS (proof of stake), most likely some time in 2022, but possibly as early as q4 2021. This is a big change, as it will kill all Eth mining (Eth is heavily GPU mined, which is what has caused most of the GPU shortages around the world), which could have a big effect on the GPU market, if another cryptocurrency that is PoW and profitable cannot be found (looking at you, ERGO). Here is another Coin Bureau video on Eth 2.0 (6 minute watch):




Hope that helps.
 
fergy57 said:
Ok, so here are some resources for you (and others), to help you get started with Ethereum.

For a general understanding of Bitcoin and Blockchain tech, I would suggest to start with the book The Bitcoin standard, by Saifedean Ammous. I did the audiobook version myself (I believe with audible you get your first book free when you sign up for the 30 day trial- worth it), which was a great, informative listen. Discusses the history of money and the gold standard and posits some very interesting theories.


I could give a writeup on what eth is and what it does, but the hour I'd probably spend on that can be shaved down to about 30 seconds of copying and pasting to give you this video (26 minute watch/listen):



There are a lot of different youtube producers out there, and a lot of them are straight trash. Generally, Guy (Coin Bureau), aside from cringe video thumbnails, is a good watch/listen. He focuses more on what projects do and how they are developing, as well as providing a weekly news update on crypto, which is handy if you want to save time and effort digging through stories yourself. Also, all of his videos are indexed in the timeline. That comes in really handy for when you want to skip a part of a video. There is a producer out there for everyone, though, so if you don't like his content you can probably find something more your speed.


Most blockchains will have a whitepaper. It's basically a mission statement explaining what their blockchain is and what they want to accomplish with it. Here is Ethereum's. It is a long read, but probably the best, most direct dive you could take into Ethereum:

ethereum.org

Ethereum Whitepaper

An introductory paper to Ethereum, published in 2013 before its launch.
ethereum.org ethereum.org

I'll touch on Eth ETF's, too. I'll use the CI Galaxy Etherum ETF (ethx.b), as the example (speaking of, I ended up sellling my options on that for 200+% profit. Not peak, but damn nice).

CI Galaxy Ethereum ETF (C$ Unhedged Series) | Overview | CI First Asset

CI Global Asset Management, a leading provider of Exchange Traded Funds (ETFs) in Canada, offers a comprehensive suite of ETF solutions. Rooted in strong fundamentals, the diverse and specialized lineup of CI First Asset ETFs strive to deliver better risk-adjusted returns than the broad market...
www.firstasset.com www.firstasset.com


Also, here is a link to a much better written breakdown on ETH ETF's:

www.greedyrates.ca

Canada approves Etherium ETF. What does that mean?

Cryptocurrency just got a little bit easier to invest in.
www.greedyrates.ca www.greedyrates.ca


So, this could be the case for all ETF's (I'm not 100% sure), but with this Eth ETF, my understanding is that when you buy the ETF, the fund then goes out and buys the corresponding amount of eth. In the CI ETF, 1 share is equal to 0.003693 ETH. So if we use the old Rate=Portion/Base equation, we get 271 shares (270.78.....), equal to 1 ETH. You do not hold the keys to this Eth, though. The fund does. In the CI fund, they use Galaxy Digital as custodians for the crypto in the fund. This means that you cannot transfer the coins, or use them to generate interest through staking. Speaking of staking....


Eth is currently a PoW (proof of work), coin. This means that blocks are mined and miners are paid a reward (in Eth), for mining the blocks. You may see a lot of EIP-1559 when you search for information regarding Eth. So, the transaction fees for transacting on Ethereum used to be paid to the miners. Now, a portion of the fees will be burned (ie that Eth will no longer exist). This scales based on the amount of transactions per block. So, if Ethereum see's enough transactions, more Eth will be burned per block than what is produced (as a mining reward), causing Eth to become deflationary. The first video I posted goes over this briefly as well.


Eth will be switching from PoW to PoS (proof of stake), most likely some time in 2022, but possibly as early as q4 2021. This is a big change, as it will kill all Eth mining (Eth is heavily GPU mined, which is what has caused most of the GPU shortages around the world), which could have a big effect on the GPU market, if another cryptocurrency that is PoW and profitable cannot be found (looking at you, ERGO). Here is another Coin Bureau video on Eth 2.0 (6 minute watch):




Hope that helps.
Click to expand...

Thanks for this. I’m still lost as shit when it comes to this stuff. Like I don’t even understand many of the words used to help describe it. I found myself googling many times throughout.
 
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