Cardano Rumor Rundown May 12, 2022

Hey Everyone!

Let's go...

Newly covered today:

1. The Indigo Protocol private testnet is now live. https://twitter.com/Indigo_protocol/status/1524108224026324993?s=20&t=mR-Tqs9xvh1aDFysTiMzwg
2. Here’s an illustration from Pavia as to the size of the Pavia Plaza. Turns out it’s big. https://twitter.com/Pavia_io/status/1524296117768368128/photo/1
3. Charles had a few things to say about the events of the last few days. https://www.youtube.com/watch?v=pNH_PvkVN74
4. Here’s a World Mobile video showing an air node installation. https://twitter.com/WorldMobileTeam/status/1524042009970888705
5. Unlike UST, the Ergo stablecoin, SigUSD, has maintained it’s peg nicely since establishment. SigUSD is based on the AgeUSD architecture just like Djed. https://twitter.com/ergoplatformorg/status/1524302368241819657
6. Here is the latest response from Stable Kwon. Doesn’t seem like a terribly promising plan. https://twitter.com/stablekwon/status/1524331171189956609
7. Both Blackrock & Citadel have denied the rumors they were involved in Crashing UST. https://watcher.guru/news/blackrock-and-citadel-have-denied-trading-with-terras-stablecoin-ust

Previously Covered but still interesting:

1. Even Greenpeace is now complaining about Bitcoin energy usage. https://twitter.com/GhostchainClub/status/1509907792408326151
2. The UK is setting its sights on becoming a crypto hub. https://www.gov.uk/government/news/government-sets-out-plan-to-make-uk-a-global-cryptoasset-technology-hub https://twitter.com/greyskulledm/status/1511026486798651393
3. It sounds like Wingriders is going to have ADA staking for Liquidity Providers in pools that include ADA in the pair. Apparently the LPs will vote on what pool gets the delegation. https://twitter.com/wingriderscom/status/1511009078620868611
4. Reports are coming in that Coti will launch the Djed testnet this week. https://twitter.com/cotihyp3/status/1510743792864796674
5. The recent Liqwid community call is available. https://twitter.com/liqwidfinance/status/1509938871060115471
6. Caitlin Long thinks the US crypto industry will split into three camps. https://twitter.com/CaitlinLong_/status/1511137195746279440
7. Apparently your ReadyPlayerMe avatar in Pavia will be able to wear Adidas. https://twitter.com/Pavia_io/status/1511408080357101568
8. Activision is considering NFTs for Call of Duty! https://watcher.guru/news/activision-blizzard-might-incorporate-nfts-into-call-of-duty-games
9. The MLabs Cardano TX library being built for Seabug (Mlabs upcoming NFT market) will be open source so that other projects can build on this. https://twitter.com/seabugnft/status/1511445943865917447
10. The Charles/Snoop/Champ Medici/Lena Twitter space is out. Over 64k people tuned in. As unexpected surprises, Warren G (and possibly a silent Busta Rhymes) also popped in. https://twitter.com/IOHK_Charles/status/1511402568420929538
11. MuesliSwap now has limit swaps as part of their DEX aggregation function. https://twitter.com/MuesliSwapTeam/status/1511356152017264642
12. Indigo has unveiled a quiz related to its airdrop qualification criteria. https://twitter.com/Indigo_protocol/status/1511421010666749952
13. Catalyst has launched a new African Incubator along with iceaddis called Ariob. https://twitter.com/InputOutputHK/status/1511691446910427139 https://iohk.io/en/blog/posts/2022/04/05/project-catalyst-launches-incubator-for-africa/
14. There will be an AMA on April 7 with ADA Realm and their new Unity development partner Actum Games. https://twitter.com/AdaRealm/status/1511779464795070469
15. If you don’t think our biggest competitor is broken by fees, check out this report of $26 million spent on gas fees in an offering that only raised $8 million. Someone’s making money, but they’re called miners. https://twitter.com/cr0ssETH/status/1511446814196572161
16. Maladex makes a good point about liquidity in DeFi. https://twitter.com/CardanoMaladex/status/1511811031470952466The future is not going to be 2D. Here is (probably) the first metaverse purchase of a SpaceBudz NFT. https://twitter.com/poly_peer_party/status/1511789839447904266
17. MinSwap and COTI are looking at how best to integrate Djed into Minswap. https://twitter.com/MinswapDEX/status/1512052790625026052
18. Here are some questions answered by Ross, Pavia Community Manager. https://www.youtube.com/watch?v=Zc9A4tREvkI
19. Shocker! Reports of more problems from our most problem ridden competitor.. https://twitter.com/Katsumoto87/status/1512002841501655044
20. If banks are involved with crypto, they now need to notify the FDIC. https://www.fdic.gov/news/financial-institution-letters/2022/fil22016.html
21. MuesliSwap is going through a redesign. https://twitter.com/MuesliSwapTeam/status/1512090675021447169
22. Here’s an excellent thread from Sooraj that explains in very easy-to-understand terms why Cardano’s eUTxO model is superior to ETH’s account balance model. Even Ben Goertzel had to comment on this thread. https://twitter.com/Soorajksaju2/status/1512886236066762762 https://twitter.com/bengoertzel/status/1513177850286813185
23. You might as well follow that up with his earlier threads on a) why UniSwap v.3 hasn’t solved impermanent loss but the answer may lie in Cardano’s eUTxO architecture; and b) why AMMs are inferior to order book DEXs. https://twitter.com/Soorajksaju2/status/1512110589459546120 https://twitter.com/Soorajksaju2/status/1511819727475294211
24. The Agora Governance Module from MLabs, Liqwid, and ADAO is now open source. https://twitter.com/liqwidfinance/status/1512414100273471497
25. Wingriders hints at Ledger compatibility in their DEX. https://twitter.com/wingriderscom/status/1513242395101515778
26. IOHK introduces the Delegate Representatives concept for Catalyst voting. This seems to embrace the idea that the best form of government is “a republic…if you can keep it.” https://iohk.io/en/blog/posts/2022/04/11/introducing-the-concept-of-delegate-representatives-dreps/
27. Curious how to pronounce names in Cardano? Here you go. https://twitter.com/AnthonyCardano/status/1513479117483778048
28. SundaeSwap announces some quality of life improvements for its users. https://twitter.com/SundaeSwap/status/1513605929907933198
29. WingRiders has already announced details on its Yield Farming that it says will be live on day 1. https://medium.com/@wingriderscom/wingriders-yield-farming-will-be-live-from-day-one-of-mainnet-launch-769095f7ef91
30. It’s looking like the Bankless podcast wants to have Charles on and he indicated he would do it. https://twitter.com/IOHK_Charles/status/1513621050940170242
31. WingRiders is live on mainnet and there are stablecoins! https://twitter.com/wingriderscom/status/1513865034115739652 https://twitter.com/wingriderscom/status/1513788413631152130
32. Soon there will be a list of verified Pavia Asset (PCA) creators. https://twitter.com/Pavia_io/status/1513835187343405058
33. The MuesliSwap Milk token is now live on the Milkomeda version of the MuesliSwap DEX. https://twitter.com/MuesliSwapTeam/status/1513921544812126210
34. IOHK wants your input on what should be included in Cardano 360. https://twitter.com/InputOutputHK/status/1513914342642790405
35. It looks like the Chrome Web Store approval of the new version of the Eternl Wallet has fixed the Ledger compatibility issue that recently cropped up. https://twitter.com/eternlwallet/status/1513789563755503619
36. Mainstream media is really pulling out all the stops, now labeling crypto people as study-proven “psychopaths”. https://nypost.com/2022/04/12/bitcoin-fans-are-psychopaths-who-dont-care-about-anyone-study-shows/
37. IOHK gave us a big rundown of all the news from the last ten days (4.12.22). https://twitter.com/InputOutputHK/status/1513951540058411008
38. It turns out that Pavia land parcel ownership is pretty decentralized. https://twitter.com/Pavia_io/status/1514183930605408266
39. The ETH Merge to proof-of-stake is delayed again! No firm date has been established. https://twitter.com/TimBeiko/status/1514010098145759232
40. BlackRock will be the primary asset manager of USDC reserves. It looks like the institutions are fully here in crypto. https://www.coindesk.com/business/2022/04/12/usdc-issuer-circle-raises-400m/
41. Here’s a very good article from IOHK explaining reference inputs and reference scripts that will be implemented at the Vasil hardfork combinator event in June 2022. https://iohk.io/en/blog/posts/2022/04/13/boosting-cardano-s-throughput-with-script-referencing/
42. Here’s a great thread on what happens when you have one-way public pressure on a liquidity pool where one of the assets is an otherwise unavailable wrapped stablecoin. https://twitter.com/Doctor__A__/status/1514230061859319815
43. People are sounding the alarm about two new projects that have launched on Milkomeda. https://twitter.com/NicoArqueros/status/1514603103860903939
44. The Vasil Hardfork Combinator event is scheduled for June 29th and is on track. https://twitter.com/InputOutputHK/status/1514637134040346628
45. The April Mid-Month Update is out and available! https://www.youtube.com/watch?v=B0tojqvMgB0
46. Alessandro (of SpaceBudz, Berry, & Nami) releases Lucid, a Javascript framework to handle Plutus off-chain code. https://twitter.com/berry_ales/status/1514728197438545937
47. Charles offers to help Elon Musk build a decentralized twitter if Elon’s offer to acquire the company and take it private is not successful. https://twitter.com/IOHK_Charles/status/1514707087128997890
48. Robbery Forest Heist Alert: Reports coming in that BeanStalk Farms stablecoin protocol was exploited for something like $80 Million. https://twitter.com/BeanstalkFarms/status/1515700678454390785 https://twitter.com/WatcherGuru/status/1515689590841040899 https://twitter.com/Rightsideonly/status/1515692515286224902
49. The word “Solunavax” is now in Urban Dictionary. https://www.urbandictionary.com/define.php?term=solunavax
50. Our community is so strong, not even Mt. Everest is safe from our reach. https://twitter.com/ArthurPrestidge/status/1515317980942405632
51. The robbers in the Robbery Forest have names. The FBI says North Korea’s Lazarus Group & APT38 hacker teams are behind the Axie Infinity theft. https://gizmodo.com/fbi-says-north-korea-behind-biggest-crypto-theft-in-his-1848797691
52. Very harsh technical and other criticism incoming for Cardano competitor Solana. https://twitter.com/Justin_Bons/status/1514646388688232456
53. Looks like info might come this week about the Cardano Summit NFTs? https://twitter.com/IOHK_Josh/status/1515462695537246208
54. Take note if using an EVM sidechain of Cardano: report of a crazy Metamask vulnerability if you enable iCloud backup of app data on an Apple product. https://twitter.com/Serpent/status/1515545812423839745
55. The wider crypto space is learning that Cardano added 100k wallets in the last month. https://twitter.com/WatcherGuru/status/1516095660424155137
56. The AGIX ERC-20 converter is now live! https://twitter.com/singularity_net/status/1516069469591908361
57. Singularity.net is building a metaverse virtual world (Sophiaverse.ai) where AI characters embodied in humanoid avatars will interact with, teach, and learn from players. This could end up being wildly interesting. https://www.sophiaverse.ai/ https://www.youtube.com/watch?v=Kjh-MXd4xnw
58. Paribus announces it will build an HQ in Pavia. https://twitter.com/paribus_io/status/1512443022801346583
59. Apparently Indigo Step #3 will close out on Apr 19, 2022. https://twitter.com/Indigo_protocol/status/1516072942395928579
60. MuesliSwap Mainnet v.2 is here! Now with partial order matching! https://medium.com/@muesliswap/introducing-muesliswap-v2-the-next-generation-of-cardanos-most-popular-orderbook-dex-6b1fc6af64b1
61. Cardano Ledger App…now with smart contract compatibility. https://twitter.com/Ledger_Support/status/1518927545751773184
62. The dominos are starting to fall. Now the Central African Republic is adopting crypto as legal tender. https://news.yahoo.com/central-african-republic-adopts-bitcoin-104407031.html
63. Binance has recovered a tiny portion of the 600 million USD stolen from the Axie Infinity Ronin Bridge. https://cointelegraph.com/news/binance-recovers-5-8m-in-funds-connected-to-ronin-bridge-exploit
64. Artifct has released info on its Moon metaverse project. https://artifct.app/docs/MoonFlightPlan.pdf
65. Great thread on the trilogues for the new EU crypto AML rules. https://twitter.com/paddi_hansen/status/1519609822823403521
66. The Cardano Summit NFTs are finally here (as of Apr 25 2022). https://blog.terravirtua.io/partnership-news/your-guide-to-cardano-summit-nfts/
67. The April Cardano 360 is ready and waiting for you. https://www.youtube.com/watch?v=b4x5OIy4shU
68. The biggest NFT collection in the world wants to migrate away from ETH after its metaverse land mint cost $177 million in gas fees. https://twitter.com/yugalabs/status/1520612362986078208
69. Shocker! Solana is once again “halted”. https://twitter.com/SolanaStatus/status/1520508697100926977
70. The latest Pavia developer update is out. The builder tool is in development and set for Q2 release. Lots of features and updates revealed including chat features. https://www.youtube.com/watch?v=whnKHNq7f5A
71. There is a new CopiCafe episode from Cornucopias available. Three will be five parcel sizes. The smallest will be roughly the size of an NBA basketball court (16m x24m). https://www.youtube.com/watch?v=HVnzb8IT3lk
72. ADA Realm has released a mockup of their avatar and parcel editor. https://twitter.com/AdaRealm/status/1520493365216919553
73. JPG Store’s new smart contract is open source. They’re offering a $50k bug bounty. https://twitter.com/jpgstoreNFT/status/1520835206659289089
74. The wider crypto space just noticed that Cardano has done over 100k transactions per day for half a month. https://twitter.com/WatcherGuru/status/1521071194786705408
75. We are very early in Cardano. The CEO & Founder of eToro just talked to Charles in person and then tweeted with excitement about a few things including NFTs “coming” to Cardano. https://twitter.com/yoniassia/status/1520954005521715207
76. Genius Yield has revealed their public sale model. https://twitter.com/GeniusyieldO/status/1521215710923563009
77. Charles offers up digital identity (DID) to Elon Musk as a solution he needs for Twitter. https://twitter.com/IOHK_Charles/status/1521152995756363776
78. The Clay Nation metaverse (“Clayverse”) map has been revealed. https://www.claynation.io/clayverse
79. EU Commissioner Mairead McGuinness calls for a joint EU-US led international approach to crypto regulation. https://watcher.guru/news/eu-commissioner-is-calling-for-global-regulators-to-create-a-unified-crypto-regulation
80. The Liqwid AquaFarmers NFT whitelist is now public and ready for you to check your wallet. Use your stake key (instructions in the thread to find your stake key if you don’t know how). https://twitter.com/liqwidfinance/status/1521166352559583237
81. MuesliSwap has gone live with wrapped Bitcoin. https://twitter.com/MuesliSwapTeam/status/1521590290859151360
82. Charles had a great spot on Fox Business. https://twitter.com/IOHK_Charles/status/1521739002214199296
83. Djed is now live on testnet. https://medium.com/cotinetwork/djed-public-testnet-is-live-b0b0b13552e0 https://twitter.com/COTInetwork/status/1521804376725233664
84. The SEC is nearly doubling the number of attorneys it has on crypto enforcement. https://www.cnbc.com/2022/05/03/sec-adds-to-cryptocurrency-regulation-staff.html
85. May 4th was the birthday of Hal Finney who may have been Satoshi.I will try to remember to pour out a little whiskey for him each year until we can bring him back via his cryopreserved remains so that he can reclaim his bitcoin hoard. https://en.wikipedia.org/wiki/Hal_Finney_(computer_scientist)) https://twitter.com/pete_rizzo_/status/1521791809713754113
86. The Federal Reserve has elevated the interest rate by 50 basis points. This half percentage point increase is the largest hike in 22 years (since May 2000) https://www.nytimes.com/2022/05/04/business/economy/fed-rate-decision-inflation.html
87. The Cornucopias land sale will involve a tiered whitelist with tiers for Discord membership and NFT holdings. NFT holders will need to verify their ownership according to the directions provided. https://twitter.com/CornucopiasGame/status/1521916326465392641
88. Pavia will be airdropping PAVs soon and they’ve provided a small FAQ. https://twitter.com/Pavia_io/status/1521851228531134467 https://twitter.com/PaviaRoss/status/1521872255902314496?s=20&t=CferRuF0l936gpQWHcd1rg
89. Gary Vaynerchuk is now telling newbs to buy an NFT on Cardano or Solana because ETH gas fees are too high. https://twitter.com/TangerineADA/status/1521978950649581570
90. Coinbase NFT beta is now open. https://twitter.com/coinbase/status/1521888126934781954
91. Now wrapped ETH is available on muesliswap mainnet. https://twitter.com/MuesliSwapTeam/status/1521917354569048068
92. A very interesting thread on ETH Beacon Chain centralization. https://twitter.com/dagaffer101/status/1523194663473135616
93. There is now a dApp section in Eternl wallet. This is not just a button to connect to dApps. It actually shows you dApps you can use. https://twitter.com/eternlwallet/status/1522639247701942272
94. Tony Rose, IOG Head of Product–Digital Identity, recently testified before the California State Legislature in relation to California students using digital identity. https://mobile.twitter.com/StakeWithPride/status/1523173974456168450 https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202120220SB1190
95. There is obviously still a huge information asymmetry in crypto in relation to Cardano. Even a well known crypto influencer was recently seen aggressively claiming that Cardano had no DEXs when we have: MuesliSwap, SundaeSwap, MinSwap, WingRiders, and others all alive and functioning well. https://mobile.twitter.com/Flat_Mars_Ltd/status/1522400420315815937
96. The Cornucopias podcast, CopiCafe Ep. 6 is now out and available. https://www.youtube.com/watch?v=KuMRgvVDPW8
97. COTI and Djed have partnered with GADA Launchpad. https://twitter.com/COTInetwork/status/1523620203422437376
98. The winner has authored a thread on how the Artifct Moon Treasure Hunt was solved. https://twitter.com/AshXlandZ/status/1523403686810353666
99. There is a new Africa update with John O’Connor available. https://www.youtube.com/watch?v=X1cKW1RhI2E
100. As they post under #ponzi, many members of the Solunavax space seem to be collectively accepting that while they thought TerraUSD was pegged, it was in fact them. https://twitter.com/jonwu_/status/1523793482850050048 https://twitter.com/stablekwon/status/1523532474860539905 https://assets.website-files.com/611153e7af981472d8da199c/618b02d13e938ae1f8ad1e45_Terra_White_paper.pdf https://twitter.com/IOHK_Charles/status/1523876312498192386 https://twitter.com/ercwl/status/1523802943362895872 https://twitter.com/el33th4xor/status/1523968918934728709
101. MuesliSwap held an AMA on Reddit and the questions and answers have been compiled on Medium. https://medium.com/@muesliswap/muesliswap-reddit-ama-06-05-2022-69097df389aa
102. Liqwid gives us a little teaser of the AquaFarmer NFTS. https://twitter.com/liqwidfinance/status/1524204829110906880/photo/1
103. Yellen is citing the Luna Terra fiasco and calling for stablecoin regulation by the end of the year. https://techcrunch.com/2022/05/10/us-treasury-secretary-janet-yellen-pushes-for-stablecoin-regulation-by-end-of-year/

~Army of Spies

Future generations will be able to look back on their own gaming memories thanks to the IKONIC NFT Marketplace

Gaming and metaverse memories from all around the globe may be shared on this website. It is necessary to display one's work with the assistance of an established artist or someone who is at least 18 years old. It's conceivable that you're a fan of a certain player or event. You may buy professional and esports games on the NFT Marketplace. In Minecraft, players may buy, sell, and collect NFTs. You may generate money and get the esteem of others if you follow the advice in this article. If all goes according to plan in 2021, future generations will be able to look back on their own gaming memories thanks to the IKONIC NFT Marketplace. As soon as we heard about it, we formed a team and started working on our event straight immediately! May 2021 will be a golden year for the smart contract programmers on our team. We plan to begin alpha testing at the beginning of the year. We were optimistic about our chances of making it through the summer.

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Bitcoin is Nazi technology

Had to repost because my prior post was taken down. Essentially if you spin a bitcoin on its backside, the circuitry displays a swatstika. I am in crypto and have no biases however I find this to be very intriguing considering the world events going on right now. Bitcoin is Nazi Technology

Is bitcoin, in fact, a disappointment?

Despite a slew of events and conditions throughout the world that would appear to be excellent narratives for Bitcoin's continued use and adoption, it has been a complete letdown. There hasn't been a daily close outside of the 29K-65K range since December 2020. And the majority of that time was spent watching the stock market fluctuate between the mid-1930s and the early 1950s.

Will people ever realize that bitcoin's prospects of ever accomplishing anything important have been decimated by institutional adoption?

Is there any explanation why bitcoin is a piece of rubbish that continues to fall in value despite massive inflation for years?

Moving forward, I believe the best course of action is for BTC to gradually fade away and out of the way, allowing other cryptocurrency initiatives like Meteora, ROSE, and others to emerge from its shadow and be reviewed and performed on its own merits.

Why ChargePoint Stock Should be on Your Radar

Every investor should be familiar with current events and have at the very least a general idea of global trends and phenomena. Having this basic knowledge can lead to some pretty lucrative investments in the long run. If back in the early 2000’s you witnessed the rise of the internet and the E-commerce market, you would have invested in Amazon. If you’d have witnessed the surge in demand for home improvement materials at the height of the Covid-19 pandemic, you’d have invested in Lowes. In either case, you’d be fairly rich.

Some people think Bitcoin is where the future is headed, others say the colonization of Mars – it’s impossible to know for sure.

In this article we will be discussing a specific stock in the booming electric vehicle charging industry- ChargePoint (Symbol: CHPT) - and why it should be on your radar as a potential star investment in the long term.

Chargepoint Stock in 2022

If there’s one thing the current conflict between Russia and Ukraine has taught us, it’s that we are highly dependent on crude oil, which is refined to make gasoline. Russia is the third-largest producer of crude oil in the world, after the U.S. and Saudi Arabia. The sanctions the US and other countries have placed on Russia hindered their ability to sell crude oil, and President Biden has even placed a ban on all oil imports to the US hoping to cripple the Russian economy.

It turns out your high school economics teacher was right- a negative shock to supply leads to an increase in price - this is what the world is experiencing right now, and the high oil price is simply passed from oil companies to consumers at the gas pump.

If there’s one group of people who are happy in the world, it’s the people who purchased electric vehicles and are not significantly impacted by the sudden spike in gas prices. Electric vehicles are fueled from the electrical current supplied by the electrical grid and delivered to the car’s AC/DC converter which charges the battery- and there’s no direct reliance on oil.

My prediction is that this conflict will significantly increase the already growing consumer demand for electric vehicles in the long run. People are not happy with the dramatic and sudden increase in gas prices. Not to mention how they are the more environmentally-friendly method of transportation, as EVs produce zero emissions while running. I understand that today Teslas are expensive, but as technology makes EVs cheaper with time, we will likely see a steady increase of more affordable, sustainable, and glamourous electric vehicles on the road.

As we transition to this new way of travel, an EV charging station infrastructure will need to be built to support and charge the new fleet of vehicles, whether it be at home, in a parking lot, or by a public charging station. It’s worthwhile to note that none of the EV charging station companies are profitable yet, as investment and R&D costs are still running high in the industry. Therefore, in this article, we will analyze ChargePoint and see if it’s a worthwhile investment in the long run.

ChargePoint Stock: Competitors, Corporate Strategy, and Products

There’s no question that the EV charging industry has its fair share of competition. Some of ChargePoint’s competitors include Blink Charging (A recent article comparing BLNK vs CHPT is available here), EVgo, and Volterio, among several others. What makes ChargePoint stand out is its tremendous 45% global market share of level 2 charging stations, which take about 3-8 hours for a full charge.

ChargePoint has a slightly different strategy than its competitors, which has enabled them to increase market share and rapidly expand its network. The bulk of their revenue is from hardware sales to businesses, individuals, government entities, etc. In such sales, they do not receive any revenue from the actual charging process, as opposed to Blink Charging, a company that owns and operates most of their charging stations- and would generate revenue from the charging process. This detaches ChargePoint’s dependence on the utilization of their product and gives businesses and consumers alike the freedom as to how and where to implement the charging station.

In addition to hardware sales, ChargePoint also generates revenue from a cloud-based SaaS subscription platform to businesses in exchange for a monthly fee. The subscriptions allow the owner advanced access controls, graphical dashboards analytics, power management software, and the option for drivers to reserve charging ports. Business owners are naturally incentivized to purchase the subscription plan since it enhances the user experience, and ChargePoint capitalizes on this product with high-profit margins.

The company currently has 118,000 active ports and stands to benefit from a recently passed infrastructure bill which includes $7.5 billion to expand EV charging stations. With such promising potential, what do its financials look like?

Chargepoint Stock Evaluation

A strong indicator of potential is ChargePoint’s revenue performance since it went public in March of 2021. As you can see from the graph, the company revenue has grown from $40 million to $80.67 million – doubling, in effect- between March and December of 2021. This is a good indicator that the company is successfully expanding its consumer base while grabbing the market share it is looking for before it can turn a profit.

The company has most recently collaborated with Mercedes-Benz by developing an application known as “Mercedes me Charge”, launched in June 2021.

The app allows users to find, use, and pay for a charging session, all from within the access of their smartphone. It works by indicating the precise position, current availability, and price at the selected charging station. By empowering drivers to charge when, where, and how they want with seamless access to ChargePoint’s EV charging network, this collaboration has produced an industry-leading charging experience.

Chargepoint Balance Sheet

What’s interesting to note about ChargePoint’s balance sheet is its change in cash flow from investing activities. The negative cash flow means that ChargePoint is spending more cash on investment activities than generating cash from investment activities. Since going public, the company has had significant amounts of cash being invested in the long-term health of the company, such as Research and Development.

Holding ChargePoint stock will not produce any dividends - the company is still growing rapidly and wants to invest as much as possible into further growth. Companies pay dividends usually to thank shareholders by sharing profit and incentivize them to continue holding the stock- but in ChargePoint’s case, there still is no profit to dole and long-term shareholders hope to get compensated by a potential surge in stock price with time.

CHPT Free Cash Flow

Since going public, ChargePoint’s free cash flow has been in a downtrend, going from – 1 million to – 52 million. Companies with negative free cash flow tend to be riskier investments, as they still have yet to generate enough net income to cover their operating expenses. This further emphasizes the sentiment shareholders believe that ChargePoint will be able to recuperate its current losses with time.

CHPT Stock Forecast

For the full fiscal year ending January 31, 2023, ChargePoint expects revenue of $450 million to $500 million. This represents an almost 100% increase from its most recent yearly revenue of $243 million for the fiscal year ending January 31, 2021.

CHPT Stock: Buy or Sell?

Fast forward 100 years from now, and you will likely see many more electric vehicles and charging stations on the road than there are today, as evidenced by the rapid growth of the EV market. According to Yahoo Finance, "The electric vehicle market was valued at 171.26 billion in 2020, and is expected to reach a value of USD 725.14 billion by 2026, registering a CAGR of around 27.19% during the forecast period (2021-2026)".

There are still risks associated with ChargePoint, which mainly stem from competition or commoditization. If more and more charging station companies saturate the market with better technology than ChargePoint, profits will decrease, and the stock may not surge as much as people expect. As of today, the technology is still developing and a lot of uncertainty is still attached to the industry. 

As we have seen from both the macroeconomic and fundamental analysis, there is great potential attached to ChargePoint stock. It will take some time before we see ChargePoint produce positive net income, but as technology improves and profit margins increase, I see an electrified future for this company.

Add to your calendar Bitcoin File (BIFI) event: AMA with Hector Finance - May 13, 2022

https://kryptocal.com/event/78847/ama-with-hector-finance

Am I happy? (a rant)

I can only speak for myself, but since everyone keeps mentioning this subreddit as if we're happy and that we're gloating over people losing money... it's more that I'm relieved that this might finally be over. It's exhausting watching all of this nonsense go on for so long. You can't even avoid it because the promoters work hard to be in your face wherever you go.

I am glad that the people who came in here to gloat saying "have fun staying poor" at the peak as well as a lot of the people running or promoting the fractal scams are (hopefully) losing money. I'm not happy that ordinary people, who got scammed by the constant advertising and social media spam, are losing money. This is a much larger group of people. Anyone you know who's bad with money probably lost a lot of it in crypto already. A friend, a relative, an acquaintance. Maybe even that nice, elderly neighbor across the street. The press treats crypto as a legitimate place to put your money so why wouldn't they do that? Even smart people with very diversified investment portfolios might put 2% into crypto because it's another "asset". Even if they don't do that directly, they own an increasing amount (until things started crashing very recently) of MicroStrategy, Coinbase, etc., through ETFs or mutual funds. Some ETFs, like ARK, really concentrated your crypto exposure. That didn't work out too well for anyone who bought that ETF.

FTX is everywhere, Binance is everywhere, crypto dot com is everywhere, and Coinbase... well, they barely tried (did you see their Super Bowl ad?). And those are just the crypto exchanges. If you have an app or website that has money, it probably added crypto support. You can YOLO your retirement into crypto with GBTC — and Fidelity wants you to be able to directly YOLO it into BTC. All of these and more are trending or promoted on the two mobile app stores.

The head of the SEC is a crypto bro who taught blockchain classes at MIT. You know, blockchains, the thing that everyone has tried to make work as a data structure, but no application outside of cryptocurrencies has been found. I'm shocked that the SEC hasn't approved a crypto ETF yet, but BITO is probably close enough. It tracks Bitcoin futures. Real, regulated futures, not the sham Binance ones that are actually just a casino. Other countries already have crypto ETFs. This shit has integrated itself into finance, technology, politics, and culture by now.

That Matt Damon video ad had huge reach on television and online and apparently even in the movie theaters. This got a lot of people to buy high. Right around the peak. South Park, a show with a libertarian bias, made fun of it multiple times. Remember when libertarians were the ones promoting Bitcoin?

Crypto is in every sporting event. They're buying naming rights for stadiums. They're constantly in your face. FTX even paid for a patch on baseball umpires. Crypto's a major part of financial news, on television and online, both sponsored and just because it drives clicks/views. And of course they're advertising there, too. Heck, they're literally advertising right here, on Reddit, probably next to this post. Twitter is way worse than Reddit because the Twitter crypto bros are really into the NFT trend, but the Redditors mostly didn't join them.

Hyped funds like ARK ETFs or VC funds have been shuffling money into increasingly ridiculous (NFTs being the peak) crypto bets that will not pay off and that have already lost investors massive amounts of money. That's probably why the number's going down. Smart money has been moving out of this sort of speculation because of the rising interest rates. Sure, you can have stablecoins fabricate over 150,000,000,000 "dollars" out of thin air, but you need some real money coming in, too, and ordinary people just don't have enough cash to sustain an "investment" with Ponzi-like characteristics.

Crypto has never been more widespread, and all it's doing is providing exit liquidity to scum who got in years ago as everyone new is already deep in the red. Even people who joined this trend in 2020 probably averaged up, hoping for $100,000 Bitcoin. And they probably got involved in numerous rugpulls. Maybe they even bought a few NFTs with a high "value" that they can't sell because the market's illiquid and most of the demand was faked.

Twitter fully embraced NFTs. Reddit half-embraced NFTs. Plenty of apps or websites or game publishers wanted to go full crypto, but backpedaled after user backlash. There are so many apps I used to trust until they embraced crypto. Remember when Signal pumped and dumped a shitcoin called MobileCoin? No? You don't? Exactly. Because there has been so much crypto or NFT shit over the past two years that you can't possibly keep track of it all. But that's yet another messaging app you can't trust anymore. Discord tried to get involved, but the backlash was too strong. Not like it matters. Every single rugpull that wants to take grandma's inheritance from you is organized on Discord.

The sometimes richest man in the world is buying Twitter after using it to pump and dump Dogecoin last year. Plenty of shitcoins still pump and dump based on Elon's tweets. Binance is helping Elon Musk acquire Twitter. Binance is going to use your money to do it. It's not like they're going to pay for it in Tether. Binance shows that crime does pay because the only reason that they can invest all over the real world is because they can run an exchange using those counterfeit dollars called Tether and get away with it. Binance regularly disables withdrawals for specific cryptocurrencies, too, so it's not like they're solvent. Even if you think Bitcoin has value, Binance and similar exchanges probably couldn't satisfy everyone's Bitcoin withdrawals. At least in the Mt. Gox days, people cared about that sort of thing, but Binance has been doing this for over a year without anyone caring.

Speaking of losing your money, "smart contracts" are still a bad idea. They were a bad idea back when the DAO lost everyone's money (Ethereum rolled that one back) and they still are now, after another thousand times of the exact same thing happening over and over again (with no reversals) because nobody can write bug-free code. Immutable code simply does not work. Any serious programmer knows this. Look at games. Back when they couldn't get patches, they were full of glitches. These days, games are (sometimes) stable because they can get patched after release. All a smart contract can do is migrate. But people keep putting money into smart contracts so people keep trying to make it work. You can programmatically do finance without smart contracts. What do you think high frequency traders do? Or what do you think your online bank does?

Celebrities like Paris Hilton are pushing not just crypto, but also NFTs. The most ridiculous ones. Bored Ape Yacht Club was on the Tonight Show. People were paying hundreds of thousands of dollars for a blockchain receipt that pointed to a URL that referred to a JPEG. An ugly, auto-generated JPEG. Just about any image on the front page of Reddit looks better, and that includes the ones that are just screenshots of tweets. You can't make this shit up. If history repeats itself, first as a tragedy, then as a farce, then NFTs are the farce that makes the dot-com bubble companies all look like they had solid potential. A few of them did. Google and Amazon run the world today. Bitcoin and Ethereum never will.

The Tether scam and Tether-priced futures on Binance are the main thing driving the price. There are lots of smaller scams also driving the price. Any exchange that accepts Tether is probably insolvent to some degree and they're all in this interconnected web of shit that will make Mt. Gox look like nothing. We've known about this since the start of 2021, if not earlier. This was known before the all time highs. Nobody except the New York Attorney General and China and a handful of others have done anything about it. The scammers just avoid the jurisdictions that care and do business literally everywhere else in the world. We're wasting Argentina-scale levels of electricty on producing literally nothing during a climate crisis while simultaneously making GPUs overpriced and unavailable for more than two years. Fortunately, the altcoin that made hard drives expensive crashed quickly.

So I'm relieved that this might be ending. But I followed this in early 2020 when it looked like it was over when the stock market crashed and Bitcoin crashed harder. I followed this in May 2021 when it looked like it was over because Tether was finally exposed. Things looked poised to crash harder until Coinbase added Tether and El Salvador bought Bitcoin. I followed this in January 2022 when it looked like it was over because the "inflation hedge" narrative fell apart. I'm still half-expecting exactly 10,000,000,000 totally-legitimate, totally-backed Tether from "institutions" to pump Bitcoin up to $90,000 right when sentiment is at the peak bearishness, even if stocks keep going down on rising interest rates and the impending recession. Everyone will FOMO in and keep the scam running for another year or two, giving real cash to scammers who will gladly sell you nothing to keep their negative sum game running.

But if this ends? Yes, a lot of people will lose money. But they lost their money when they put it into the crypto ecosystem in the first place (because only a few can cash out) so at least they won't be able to keep losing money by putting even more money in. It's a negative sum game and a lot of money has to constantly leave to pay the miners' and exchanges' bills as well as the massive, massive amount of advertising and bribery. Yes, bribery. El Salvador didn't adopt Bitcoin as a currency 4 years after the narrative moved away from digital currency because of the fundamentals. El Salvador did it because it has a corrupt government that got bribed to pump the price right when Bitcoin was right about where it is now and bearish sentiment was higher. And all of the crypto insiders are probably desperately trying to pull off something similar right now.

I could have made every sentence a hyperlink if I wanted to. All of this and more has been discussed at length here and elsewhere (and almost all of these sentences refer to posts in here over the past few years), but nobody cares when the number is going up. They only care to criticize when the number is going down, with the exception of NFTs. Those were so ridiculous that nobody in the general public took them seriously, no matter how much they advertised. Maybe NFTs were a bridge too far because, unlike with cryptocurrencies, you don't have to learn that much to know that NFTs are a scam.

This should've ended last year. This should have ended years ago. It really seems like it will never end since people just keep coming back to lose even more money, just like a casino. Even if it ends now, the scammers have already won because they've had more than two years to slowly sell high without crashing the price while you have all been buying. And the worst part is that most of the scammed will just hate this post and this subreddit instead of accepting that they got scammed.