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1/ What is it about crypto that makes it so inscrutable to mainstream journalists? If you didn't believe in Gell-Mann Amnesia before working in the industry, you definitely should now. Let's take a few articles from this week, starting with https://www.bloomberg.com/news/articles/2020-09-11/-come-to-jesus-moment-for-crypto-finance-apps-rocks-valuations
2/ "Chef Nomi cashed out in early September ... sending the coin’s price down by almost 80%. That triggered a dip across the estimated $15 billion DeFi token sector."
Chef cashed out at 5 AM PT 9/5, sending the price down to $1.20 at the bottom. Not 80%.
Chef cashed out at 5 AM PT 9/5, sending the price down to $1.20 at the bottom. Not 80%.
3/ Not sure what the "dip across the DeFi sector" is alluding to. Looks normal to me!
4/ What does this have to do with Chef Nomi selling the dev fund? While maybe true for some projects, I'd actually argue that Sushi is undervalued! At ~$100k in fees to token holders / day and only 12MM SUSHI staked, you're looking at an almost 100% cap rate! Not bad.
4/ "Problem is, most projects aren’t fully decentralized, but managed by development teams with access to a portion of the funds, as in the case of Chef Nomi." How does the Chef selling some funds mean the DEX isn't decentralized? They don't have access to custody or execution.
5/ "The amount of user money locked in DeFi apps is down nearly 20% since the beginning of the month, but still stands at $7.8 billion, according to DeFi Pulse." Yeah, because the price of ETH is down and because @defipulse hasn't added SushiSwap, which is where the funds went!
6/ I don't even want to get started on this article, but because it's Friday, I must! https://www.bloomberg.com/opinion/articles/2020-09-09/blockchain-basket-beats-gold-and-bitcoin-during-pandemic
7/ The basic gist is that Elwood Asset Management LLP’s Blockchain Global Equity Index ($BLOCK) has outperformed Bitcoin and Gold y/y. Interesting! I wonder what's in the index. Oh ....
8/ * CME and ICE: two of the oldest exchange companies whose crypto offerings comprise a small % of vol
* Monex, a JP securities co that offered crypto CFDs on its mobile app in July and does *no* volume.
* A bunch of large tech cos with marginal investments in crypto products.
* Monex, a JP securities co that offered crypto CFDs on its mobile app in July and does *no* volume.
* A bunch of large tech cos with marginal investments in crypto products.
9/ * Some chip manufacturers who mostly build chips for large cos, but also build some for ASICs. So have to give points there.
I love Bloomberg and subscribe, but why is it so hard to employ basic research skills here? In the meantime, I'm going to keep reading @TheBlock__
I love Bloomberg and subscribe, but why is it so hard to employ basic research skills here? In the meantime, I'm going to keep reading @TheBlock__
