Bitcoin pulse, guides and news: 09/08/21

Wednesday, September 8, 2021

[09/08/2021] Kylie Jenner really knows how to make a pregnancy announcement - The Yodel Daily from Yahoo

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WEDNESDAY, SEPTEMBER 8, 2021 / Finely crafted by Lily Herman

Look at us, hump day friends! We’ve crawled all the way to Wednesday! As always, nothing’s slowing down: Today we’re talking about movie theaters' Tom Cruise problem, fake nut cheese and Kylie Jenner’s big baby news. Or should I say (*Moira Rose voice*) bebe?

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News To Know

(AP)

Mexico’s Supreme Court unanimously ruled in a case that it was unconstitutional to criminalize abortion. For now though, the decision only affects the northern state of Coahuila, which borders Texas.
Joe Biden sounded the alarm on climate change, referring to it as “everybody’s crisis” after he surveyed damage from Hurricane Ida. Sir, when are we gonna, like, *do something* about this?
OK, much has been said about school mask mandates, but how many folks actually support the measure? A recent survey showed that two-thirds of Americans are all for ‘em.

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Finance For You

(Reuters)

China banned for-profit tutoring in school subjects in an effort to take pressure off of students and parents, but now private tutors can also no longer give classes online or in unregistered venues. Unsurprisingly, families are finding *wildly* creative ways to circumvent the new rules.
How did El Salvador’s big "bitcoin as legal tender" rollout go yesterday? Ummmmm … Very Not Well.
Movie theaters are strugglin’ in the panini, and they’re going to see another wave of issues all thanks to Tom Cruise. (OK, not *directly* Tom Cruise, but you’ll see what I mean.)

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Sports. Sports. Sports.

(Getty Images)

We haven’t talked too much about the U.S. Open, so here’s a very Yodel rundown: American Shelby Rogers expected death threats after losing to British media darling Emma Raducanu, 19-year-old Leylah Fernandez matched an old Serena Williams record and Alexander Zverev made a really, reaaaaaally distasteful joke. WHEW.
Former NFL players Clinton Portis, Tamarick Vanover and Robert McCune are the latest trio to plead guilty to defrauding the league’s healthcare program. It’s not looking great.
It’s been a month since the Olympics took a turn for gymnastics legend Simone Biles. Does she regret withdrawing from several events? The answer is a resounding nope.

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Culture Corner

(In The Know)

What's up with dairy-free cashew cheese, and does it resemble real cheese whatsoever? In The Know’s Dillon Thompson did the Lord’s work by testing it out for us. Mystery solved!
Can you *believe*?! Jonathan Van Ness dropped a new haircare line at Sephora, and I will fight every single one of you to get it first.
Open up your cal and mark down September 10, because Yahoo is working with a few designers to bring New York Fashion Week to life virtually. There will be holograms! How fun! Here’s a sneak peek with Christian Cowan!

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Tech Talk

(Apple)

We only *just* got the hang of the iPhone 12, but it’s time to move on, because Apple’s holding its iPhone 13 event on September 14. The fact that it's not being hosted on the 13th is making my eye twitch.
Texas Right to Life, which created that abortion whistleblower website that got inundated with lewd ‘Shrek’ content, is having a bad week. Its site data was unprotected, and hackers exposed details for over 300 job applicants who applied to work for the org. Can I get an ooof?
It’s out with the old and in with the new: Microsoft said goodbye to its former news feed and replaced it with Start, which is some fancy, personalized version. Cool stuff.

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Entertainment Spotlight

(Instagram)

Kylie Jenner really knows how to make a pregnancy announcement. She confirmed rumors that she’s expecting baby number two with boyf Travis Scott. I obviously want to hear everybody’s baby name guesses.
As Kris Jenner intended, Kylie really stole the spotlight from all other entertainment news, including this tidbit: Britney Spears’ dad Jamie just petitioned the court to end his daughter’s conservatorship. Wooo!
What’s happened in R. Kelly’s sex trafficking and racketeering trial so far? This is a detailed rundown, but fair warning that it’s gruesome. The ordeal is even getting comparisons to that NXIVM sex cult case that concluded a few months back.

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Fantastic Finish

To answer a question that I know has been on your mind for *years*: This TikTok filter can show you what you’d look like as a vampire in the ‘Twilight’ movies. At long last, we! have! closure!

(TikTok)

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Thanks for reading today's issue of The Yodel.

Mining nicehash vs unmineable… which favors in terms of taxable events?

I mine on nicehash and get paid in bitcoin which i send to my coinbase account, which then in turn i exchange it to another coin.

So my questions are:

1) will a taxable event get triggered when i exchange from btc to another coin say ADA?

2) is a taxable event when i receive btc on nicehash?

3)Is it better to mine on unmineable and just get paid out in my desired coin , like will that trigger less taxable events?

Any input will be greatly appreciated as I’ve only been mining for about 3 months and just worried about tax time.

Thanks everyone

It’s Wednesday in Focus with Bitlocus!

With its typically September nemesis around, Bitcoin price sits at $46,234 amidst signs Bullish sentiments are fading with a return of volatility.

ETH holds a steady with $3,494 a +3.2% increase.

Here’s what’s for today;

• New Data hints at Crypto Crash "Culprits" amid wipe-out

Amidst Crypto price crash with Bitcoin(BTC) crashing by $9,000, more data hints at whale sell-off rather than "HODLers".

Unlike the March 2020 crash due to coronavirus measures, Tuesdays event show major differences. With some other factors like strong dollar contributing.

https://www.cointelegraph.com/news/who-was-selling-not-hodlers-new-data-hints-at-bitcoin-crash-culprit-amid-leverages-wipe-out/amp 🔗

• With focus on renewables, Macquarie Group and Blockstream launch Bitcoin mining pilot program

According to its released data in March 2021 showing 44 gigawatts of generation under development, one of the largest institutional investors in renewable energy infrastructure is partnering with Blockstream.

Blockstreams increasing focus on Bitcoin mining has attracted funding from major tech players including Twitter's Jack Dorsey, raising $5million after a previously successful Series B financing.

https://www.cointelegraph.com/news/blockstream-and-macquarie-group-launch-bitcoin-mining-pilot-program/amp

Kindly Stay Tuned to all our social media channels for more updates

Twitter: https://twitter.com/Bitlocus

Telegram Group Chat: https://t.me/butlocus_official

Telegram Channel: http://t.me/bitlocus

Bitlocus to the moon🚀🚀

El Salvador president steps in to fix bitcoin rollout snags

Salvadoran President Nayib Bukele stepped in on Wednesday to manage the fraught roll-out of a payments app that underpins the nation's adoption of bitcoin as legal tender, and called on users to report any problems on his Twitter feed.

Adopting language similar to IT departments in offices around the world, Bukele asked users to close and restart the app if a "currently under maintenance" error screen appeared.
...

Overnight the president said the app, a digital wallet, was being disconnected for the second time to "improve user experience and the problems it had during the day."

"We hope that tomorrow will be much better," he wrote in a tweet.

Several users replied in his comments section to report ongoing installation problems.

Douglas Rodriguez, head of El Salvador's central bank, said during an event in the Honduran capital Tegucigalpa that the "eyes of the world" were on his country and that the bitcoin adoption was a process that needed time to "mature."

^My snippets of the article.

https://www.reuters.com/technology/it-guy-in-chief-president-tries-fix-el-salvadors-bitcoin-woes-2021-09-08/

Let's talk about "sell the news"

It's a phrase we've all heard, "buy the rumor, sell the news" so let's open with a pondering mind for ADA's upcoming Alonzo fork on 12 September.

Our most recent news event was the obvious grandpa bitcorn plunging down to the "abyss" after the El Salvador adoption.. I couldn't begin to rationalize any case for coincidences here so let's not try and trick ourselves into believing this was anything other than a case of selling the news and a shot of manipulation. Less than 24 hours prior to this we were awash with bullish sentiment speculating odds for a continuation of a monster "late cycle bull run" that lands the price somewhere in the neighborhood of the coveted $100k region, and since we're currently hovering around $46k (a recovery from the lows of ~$42.8k) there's still plenty of room for bullish speculation in the near term.

Counterpoint - 5 August was ETH's last big news event with the incorporation of EIP 1559 aka the London hard fork. In this particular instance we witnessed a price jump from a little under $3k up to a little over $3.3k on 15 August (perhaps not much of a spike but surely far from a sell-off dip), of course it didn't stabilize much there since we then began a little crab action followed by a juicy run up to $4k and eventually leading us to the latest dip down to current day prices.

So.. we saw our top 2 crypto heavyweights move in opposing directions following their "big news" rollout and I'm curious if a distinction can be made in that Ethereum's news was one of a fundamental nature whereas Bitcoin's was one of historical adoption (albeit by a 3rd world country). Is it reasonable to assume the type of news drives the direction or is the scope of news more worthy of price speculation?

As Cardano is gearing up for it's big news event for fundamental upgrades (assuming all goes well) and smart contract incorporation, consider which path best serves the ADA whales and market manipulators. At this point it's just good judgment to expect some kind of price action to capitalize on the hype, so what move shall you make?

Chivo wallet... is it trustworthy?

So in the roll out, they seem to have lots of server issues with Chivo wallet. That combined with the need to have your identity associated with the wallet, and a possible requirement for businesses to use Chivo makes me think there might be something dangerous here.

It sounds like Chivo is a centrally managed wallet, meaning the El Salvador govt is holding everyone's bitcoins that are using the wallet, and with the identity thing, they are able to track all of the transactions between people.

Yep, you can pay bitcoins into the wallet from other bitcoin apps, and supposedly for the free $30 you get to start, it is reported that after it is transferred a few times, it is allowed to leave the network.

I feel this is just asking for a Mt Gox style event to happen, but on a much much bigger scale. An entire nation's money is being controlled by the central govt. When you look at your phone and see you have 2 BTC on there... is it really there? What if the central server gets hacked? What if the govt needs to raise money to fight a war, save the poor, or fight covid? Can it just dip in there, spending the bitcoins to do it, but not subtracting it from accounts, basically doubling the money.

I am all for this great promise of a bitcoin currency, but with the principles that back up bitcoin, most notably not relying on a central authority. To me it looks like El Salvador govt is getting the benefit of accumulating on the back of the citizens, while creating a parallel fake bitcoin currency that people use to get more bitcoins into the system.

If you don't control the money, then it isn't your money.

Note: this is all based on what I am skimming out of issues related to the news of the roll out of this wallet. I could be wrong, but this certainly isn't an open source verifiable decentralized wallet, and that on a big scale is pretty scary.

Revisiting the validity of the law of one

Since the law of one is popping up more and more here and because I misunderstood aspects of the law of one in my last post and wasn't being as objective as possible, these are my updated thoughts on the law of one.

These are the best reasons I can come up with for the law of one being true:

Ra does make some scientific statements that have been verified, including scientific statements that couldn't be verified until much later: https://www.reddit.com/r/wecomeinpeace/comments/pj0m69/a_crossexamination_of_sciencebased_hypothesis_and/. I wouldn't say any of the verified claims are too astounding.
Edit: As pointed out by /u/Holykael, the hidden hand material makes some intriguing predictions including the birth of a currency in 2009 (Bitcoin): https://www.wanttoknow.info/secret_societies/hidden_hand_081018 (search for "2009"). "Hidden Hand" is an alleged illuminati insider and states that the law of one is 85-90% accurate.
Ra sounds fairly intelligent, and could maybe be a super advanced alien race, but I could be confusing intelligence with esoteric language, obscure explanations, and mysticism.
The structure of reality that Ra presents sounds fairly well-thought-out.
Ra's explanations for various religions, UFOs, Atlantis, the pyramids, etc., make some sense to me.
Don and Carla seem like honest people as far as I can tell.
The questions Don and Carla ask and the way they recorded everything seems researchy.
There are other channelings (e.g. Bringers of the Dawn) and materials (e.g. Hidden Hand) that largely corroborate what Ra said.
I find it interesting that Don and Carla don't always understand what Ra is saying and have to ask for corrections in their understanding.

Reasons I used to think the law of one is true but aren't valid upon further analysis:

Don and Carla spent four years making the law of one and they published the material for free online, and Carla talks really slowly in the audio recordings, so that must have been a pain to record. I couldn't believe that Don and Carla would put in all of this effort just to fool people, but I have discovered the following since then:
- ~~The copyright for www.lawofone.info is 2003-2021, so unless there is an older site I don't know about,~~ The domain llresearch.org was registered in 1997 (checked with https://smallseotools.com/domain-age-checker/ ), so L/L Research could've definitely created the law of one to make money. They published four books between 1981 and 1982 and then a fifth book in 1998. The internet wasn't even born until 1983 and didn't become more mainstream until the 1990s.
- The vast majority of the content was produced in the first two years, and as the months passed, they became more sporadic (1-4 weeks between sessions), so it wasn't like a 9-5 job or anything.
Don committed suicide some time after the fourth law of one book was published and I thought his paranoia was partly due to the government/Orions, implying he really thought that he and Carla were channeling an ET, but it seems like he just had general paranoia due to what is said here: https://www.lawofone.info/Epilogue. Also, his suicide was four years after the vast majority of the law of one material had been published.
It sounded true and made sense to me, but I don't trust my truth/bullshit meter anymore, since I also used to believe in the following and don't anymore: Swedenborgianism (an attempt to reconcile Christianity with science and philosophy), Alien Interview by Lawrence R. Spencer, /u/Throawaylien.

These are the reasons I think the law of one could be false:

Don and Carla claim to be channeling a super advanced ET that originated from a nearby planet. Very suspect.
Ra makes a lot of outlandish claims without providing any sort of evidence for them. I suppose it may not yet be in humanity's best interest to have undeniable evidence that aliens exist and that channeling is real, and Ra is respecting that, but I definitely think Ra could have given us more than they did. These are some of the outlandish claims Ra makes:
- Aliens from Orion ~~control the planet and~~ have been manipulating our society for thousands of years.
- Bigfoot is real and consists of survivors from Maldek (the former fifth planet of our solar system) and bodies prepared for us in case of a nuclear apocalypse.
- Atlantis was real.
- The Great Pyramid was not built by humans and built using telekinesis.
- Tarot and healing crystals work.
- There used to be advanced aliens on Venus and not just microbial life.
The oldest stars in Orion are only 12 million years old, so it's hard to believe that there was enough time for planets to form around these stars and enough time for life to develop on those planets, much less enough time for an alien race to evolve on those planets and become advanced enough to travel hundreds of light years to the planet Earth. For reference, the Sun is 4.60 billions years old and the Earth is 4.54 billion years old (formed 60 millions years after the birth of the Sun). Perhaps the Orion group originated from elsewhere and then migrated to Orion, but that may qualify as a rationalization.
It's very possible that Don and Carla made up the law of one (explained further down).
Ra makes scientific and historical statements that are inaccurate or straight up wrong as far as we know: https://www.reddit.com/r/Throawaylien/comments/ofr7b7/a_report_on_the_claims_of_the_law_of_one/
To test Ra, Carla made Ra says "Jesus is Lord" three times: https://www.youtube.com/watch?v=Bi15kKMCZ7M&t=1104s. "Jesus is Lord" is a phrase spouted by Christians meaning that Jesus is the lord of heaven and earth and everything. Considering that Ra thinks Jesus is a fifth density being and not some sort of God, I have trouble believing Ra could say "Jesus is Lord" without violating the law of one's principles. I guess technically everything is God according to the law of one, but saying "Jesus is Lord" is supposed to mean that Jesus is the singular lord of all.
Ra says that homosexuality is a great distortion and caused by incarnating many times in the past as both biological sexes: https://www.lawofone.info/s/31#8. I know some people have said that Carla doesn't agree with Ra's views on homosexuality, but she says that homosexual thoughts are due to psychic attacks and other questionable stuff in this letter: https://www.llresearch.org/letters/letter_1990_0305.aspx. I think she tried really hard to not be homophobic in that letter, but she did not succeed imo.
Ra has to correct themself a few times. Here's one such example: https://www.lawofone.info/s/17#0. I have trouble believing that an alien race that's two billions years head of us in terms of evolution would mess up dates or anything else, but maybe Ra is so far beyond us that using our language and calendars is prone to error.
Edit: moved this point to the bottom of the list since it's the weakest. I don't feel like the questions Don and Carla ask Ra are the questions most people would ask if they came across a real ET, like pretend that you came into contact with a super advanced ET and think about what questions you would ask and compare that with the questions Don and Carla asked Ra in the first few sessions. Granted Don and Carla are part of a research group and had prior experience with such entities.

These are the reasons I think the law of one could have been made up:

Don was a physics professor and a UFO investigator and would have been more than capable of making up the science and UFO/alien content, and perhaps even the metaphysics.
Carla Rueckert was an actress and helped produce several sci films, so she is more than capable of putting on an act and producing fictional science content: https://www.imdb.com/name/nm0749094/
Carla was researching channeling and new age movements before the law of one came about, so she could have been easily inspired to make something similar.
The law of one borrows very heavily from other religions and new age movements, so it's not like Ra and Carla had to come up with such an elaborate cosmology themselves:
- Definitely borrowed from Theosophy (19th century religion): the Absolute (parallels the infinite creator), separation is an illusion and everything is ultimately united (everything is one), reincarnation, karmic debt, ascended masters, various levels of spiritual development that you move upwards through (parallels the seven densities), initiation, logoi and the sun/solar system being a logos, everything we perceive is an illusion in some sense (parallels everything being a distortion of the infinite creator)
- Definitely borrowed from Initiation by Elisabeth Haich (1960), which is actually a book mentioned directly in the law of one: initiation, reincarnation, ancient Egypt, seven levels of illusion/consciousness
- Definitely borrowed from Edgar Cayce: channeling, healing, Atlantis, reincarnation, the truth about how and when the pyramids were built
- Likely borrowed from Christianity: the harvest, the new earth (parallels the 4d earth)
- The concept of wanderers could be inspired by Theosophy or by Edgar Cayce or by Return of the Dove (1959) or by Gods of Aquarius (1976). The last item talks about star people i.e. indigo children.
- Possibly borrowed from Return of the Dove: healing using light/energy, reincarnation, Venusian aliens incarnating on Earth, negative entities that control and manipulate the Earth, imminent New Earth, Atlantis, pyramids, Jesus being an ascended master but not a God, seven stages of spiritual evolution
The esoteric language (e.g. "vibratory sound complex"), pseudoscientific terms (e.g. Earth energy squared), mysticism (e.g. a chalice, a candle, incense, a Bible, and a white robe all helping Carla channel Ra) could all be seen as attempts to make Ra sound intelligent and occult.
Very little of the law of one is falsifiable, which could be intentional.

Things that I like about the law of one:

There is structure to the universe and a plan in place.
There are good ETs that watch over planets and their inhabitants.
Everything is connected and united in some sense.
It could explain why the Old Testament is so different from the New Testament and why all of our religions have very questionable components.
It would be very interesting if true: tarot, healing crystals, Atlantis, bad aliens, good aliens, stages of spiritual evolution, alien conglomerates.
Ra remains fairly neutral and doesn't pretend to be God of the universe, albeit Ra claims to be a super advanced collective intelligence associated with an Egyptian God.

Things that bother me about the law of one:

I don't personally think a wise and loving creator would institute karmic debt. I think retributive justice is barbaric and it's cruel to punish people without them even remembering what they did in a past life to "deserve" it.
Most aspects of the seven densities:
- Participation isn't voluntary.
- The second and third densities sound really crummy and you could spend hundreds of thousands of years in those densities.
- Even densities above the third density have their limitations. The grass is always greener in the next density.
- You may end up having to repeat densities if you act too unloving during an incarnation: https://www.lawofone.info/s/16#61
The only way to know for sure if the law of one and harvest is true is by dying, since you get harvested when you die (at this current time at least). Anything that can only be proven after you die is suspect, whether it be the law of one, Christianity, Zoroastrianism, etc.
Like the Bible, the Law of One makes the harvest sound like a good thing, like we ought to look forward to getting harvested. I can't help but think that we're all cattle in a farm and us getting excited about being harvested is some sort of joke set up by alien ranchers and butchers.
Only a few people have the ability to communicate with Ra. It seems too exclusionary, like religious prophets being the only ones that receive non-ambiguous visions from God.
The harvest along with time cycles is another alleged and imminent external savior, joining the ranks of the Jewish Messiah, the second coming of Jesus, the solar flash event, and Trump's reinstatement.

Other possibilities:

Ra could be a real entity, but a negative entity trying to spread misinformation. For example, since the Orions ~~control the planet~~ want to keep us in ignorance and they corrupted both the Old Testament and New Testament, then theoretically they could have corrupted or even authored the law of one. Admittedly, it wouldn't make much sense for them to out themselves, but another possibility is that some other negative entity wants to keep us complacent and in ignorance, either making us wait for a harvest that will never come, or creating a boogeyman (the Orions) that we can chalk up society's problems to and avoid confronting.
Ra could be Carla's subconscious, or a combination of Carla's, Don's, and Jim's subconsciouses. The evidence for this is the fact that communication with Ra has largely been confined to L/L Research and not been accessible to outside minds and the fact that The Ra Material seems heavily based on Don and Carla's prior interests. The Ra Material generally reminds me of past life regressions, which are prone to confirmation bias and which as far as I'm aware, is just the subconscious being made conscious. If Ra is in fact a subconscious creation, then it's possible then that the law of one is based on memories from past lives and/or some sort of connection with the universe, meaning that it could contain some true ideas.

How to Get Rich in Crypto? Risk

Investing is separated from gambling in large part by the set of fundamental truths investors can always fall back on:

Diversification of a portfolio with uncorrelated assets decreases risk.
Exposure to risk increases the probability of reward.
Past performance is no guarantee of future results.

There is value to having these universal axioms in our back pocket—on red days and green days, pumps or dumps, we can look at them and apply an untainted perspective to our portfolio.

While the above points are true across investing, each different investment has a set of these principles that are only applicable to that specific asset class.

Today, I’d like to address some universal truths that are a bit narrower in scope: advice, axioms, and principles that are specific and universal to investing in cryptocurrency.

Understand Risk

Most people who have the conviction that Bitcoin will go to $500k may make an error when evaluating risk by not seeing all of the risks.Of course crypto investors understand the most apparent risks when buying Bitcoin:

Volatility Risk, the risk that the price of an asset may fluctuate wildly
Market Risk, the risk that all assets face as markets rise and fall (part of this is the risk of Bitcoin going to zero)

But other risks must be understood as well:

Opportunity Cost, the cost of investing in Bitcoin over investing over another asset. Part of this is related to volatility, the likelihood that there might be a lower entry point where you could make more money.
Regulatory Risk, the risk that Bitcoin or any other cryptocurrency might be regulated out of existence
Operational Risk, the risk that cryptocurrency might be attacked, hacked or that the internet might go down and you won’t have access to your money
Inflation Risk, the risk that good returns will be nullified relative to a specific currency’s purchasing power

There’s another type of risk that’s rarely touched on, but exists:

A type of Liquidity Risk, the likelihood that you’ll have the conviction to hold onto an investment should it dip or should you have to pay some obligation. Maybe Bitcoin goes to $500k, but you were forced to sell at a loss due to some type of personal liquidation event.

All of this leads to a universal truth: even if you knew Bitcoin was going to $500k, you’d still have to consider these other risks. Cloud you withstand a 99% drop? Should you wait for a drop? Do you have obligations to pay? How long will it take to reach your target price?

In a bullish environment where we focus more on price predictions than risk predictions, it’s vitally important to consider these other factors. A good high-risk investor will have an explanation for how to manage every single one of these risks.

Be Non-Consensus Right

For an investor to participate in high-risk cryptocurrency markets, high returns must be on the table. But what’s the best way to make high returns in this market? By being non-consensus right.

The necessity of being right is pretty obvious: if an asset is not effective, not adopted, has no use cases, it will go to zero.

Non-consensus right is a different story: US treasuries are considered the least-risky asset available. You could be right in assuming that they’re going to pay regular yields, but the opportunity to make money is limited because it’s assumed that the payout is secure.So the opportunity to make high returns is when we go against the agreed-upon norms: if we were to short US treasuries, and then the government went bankrupt, we’d stand to gain tons of money.For cryptocurrency, we must seek these non-consensus opportunities. Look for divides and disagreements in the community, or better yet, universal opinions. Do you believe in a low-market-cap crypto? That presents a great opportunity for high returns.

Do you think that Bitcoin is going to zero? That's another opportunity to go against the consensus (although keep in mind that sometimes the consensus is correct).

Good high-risk investors seek the opportunity to go against the grain.

Seek Out Inefficient Markets

One of the reasons we’ve seen such incredible opportunities to make money with NFTs s the fact that it’s a low-liquidity, information-inefficient market. Those who can find out about new trends and capitalize on them are those who have made a killing.

Markets can also be inefficient in periods of low volume, ultra-bearish activity, ultra-bullish activity, or in early stages of existence.

If the underlying asset is creating wealth, you’re even better off. While the art market is inefficient, it doesn’t create a lot of new wealth as it’s inaccessible. The accessibility of NFT markets and the fact that it allowed many people to unlock the value of their creations means it’s a tremendous opportunity.

Altcoins are also a good space to apply this philosophy. Low liquidity can be a double-edged sword, benefiting you or making it impossible for you to exit a position. Information efficiencies also apply here.

Double Down on Winners

The importance of the ability to double down on a successful investment is illustrated in the popularity of Pro Ratas in venture capital, a contract stipulating that an investor who has already invested also has the first right to future investment opportunities in that copany.Venture capitalists and angels understand that we should bet on winners, not losers. A good asset at a fair price often performs better than a bad asset at a great price. Bubbles should not be wasted.

Unite Concentration, Risk, and Diversification

nvesting is about executing and compounding judgement. Two investors starting with the same amount of capital, with one of them having just 10% better judgment, will have wildly different outcomes over the long term.

I’ve always had a difficult time mentally merging these concepts that tend to be contradictory in practice. Take, for example, the following quotes:

“Diversification is protection against ignorance. It makes little sense if you know what you are doing.”

- Warren Buffett

And:

“If you make 100 investments and just one yields a 1000x return, the other 99 investments could go to zero and you would still see a return of 10x for your portfolio.”

-Naval Ravikant

These two investors are not diametrcally opposed by any means, in fact, I’d argue that they’re much more similar than different: longtime investors, each with many compounding, mid-sized successes.

These two opposing ideas can be unified by something called the Kelly Criterion.

If you were to place an even money bet (a bet of $1 pays out $1) on a coin that landed on heads 60% of the time, with 100 opportunities, and you were given $100, how much would you bet each time?

Well, the odds are in your favor—so perhaps you should bet the entire amount?

No. If you lose that first bet, you’re left with nothing, and thus your advantage is completely nullified. You must bet a small fraction (there’s a mathematical answer to the equation that I won't get into) to maximize your earnings.

How does this apply to crypto? Well, a nearly-sure bet on a high-reward outcome isn’t, by any means, a sure thing. Capital preservation with high-risk investments is the name of the game. Diversify between high-risk bets. Understand that with a lower risk or larger reward, the larger your optimal bet becomes.

Becoming a Sophisticated Investor

To be successful, a cryptocurrency investor must create a system in which they can be disciplined, math-driven, reflective, calm. The higher the risk, the lower the margin for error.The principles will remain the same, the investors, assets, returns, and market conditions will always change. But crypto markets are far from efficient, and periods of outstanding returns are far from over.

Follow your own rules, understand your own risk tolerance. Do it right and there’s plenty of money to be made.

Rollercoin is an online bitcoin mining simulator in which you can mine real bitcoins for free without paying for electricity - get a 1000 satoshi now!

Rollercoin is a game that you compete with your friends, who will have a bigger farm to mine bitcoin, ethereum or dogecoin. Аll you have to do is register and customize your avatar, then you're ready to start the race.

The best part is that this game does not require depositing money to grow your farm, it is enough to play games, raise enough money and buy your first miner.

Once you have collected the sufficient minimum amount (about 4-6$) you can withdraw your money to your personal wallet. You can take 1000 satoshi which will help for the development of your farm. They are equal to 0.00001 BTC.

1000 FREE SATOSHI HERE

It is now possible to progress faster with the new in the game "Event Pass", if you do not want to give real money, there are also free prizes such as, acceleration of production by 1 Ph / s for 1 day and 3 days, as well as 2 Ph / s for 7 days and other gifts.

If you wish, you can develop your mining farm with real money, this is optional!

1000 FREE SATOSHI HERE

There are also daily offers that offer a limited series of miners, as well as discounts for miners up to 60%.

Hint:

At Rollercoin you will never mine at a loss because you will not pay for electricity! The game is made you always mine to profit!

If you decide to invest the money you earn in miners, you will start earning more.

The cheapest miner costs only 2.6 RLT which is 2.6$.

Notes on using Rollercoin

• All purchases from the site require RLT, which is Rollercoin's own cryptocurrency. There are currently no means of purchasing RLT with real cash (this also applies to other cryptos!). You either must mine them from your "PC" or exchange them via funds from your Rollercoin wallet.

• You may withdraw your crypto from the site once it reaches the required quota, or deposit them to a different currency. You cannot, however, deposit any crypto from outside Rollercoin.

• The cooldown timer after playing the game will pause at any point you opened a tab or another browser to view, and will resume once you click on the site.

• You can only split power from mining crypto once every 12 hours.

• You must win at least one game per day to maintain the current level of your "PC", otherwise it will go back to the lowest level and with it your mining power.

• The more games you win, the more difficult it is, and the longer the cooldown. On the flipside, you get a bigger score which adds to your mining power.

• You can bring down the difficulty of any game by simply not playing them for awhile. Use this to diversify the games you play and earn as much mining power as possible.

• The higher your mining power, the more crypto you can get from each completed block.

• When starting off, switch all mining power to RLT ASAP and win 150 games. This lets you complete most of the Weekly Event quests and have power to gain enough RLT to purchase a miner within a few days (cheapest one as of this writing is 2.6 RLT).

• The last part of the Event Quest get additional XP requires you invite one person to sign up to Rollercoin. That person gets 1000 Satoshi free upon sign-up. 1000 FREE SATOSHI HERE

• Cryptonoid provides the highest score (thus the biggest mining power gain), followed by Dr. Hamster, and Token Blaster. Coin Flip gives the lowest score followed by Coin Click and Coin Match.