I believe that some of the mega projects out there get initial ideas from Movies and the scripts that writers think up or Movies created from past books and their authors. Take Elon Musk's SpaceX that NASA now uses for example and similarities to Sci -Fi space movies. Right down to the fashionable new space suits they use. Boeing engineers are also working on their own spacecraft project. Only the beginning of space travel and ... mining? For sure that's happening in the future. New powerplants in development that can run self sustaining once in space.
Take her out Mr. Sulu, warp speed.
Moving into crypto land ... a world in hyperspace. Billions of dollars floating around out there and doesn't become real until cash in the hand or a purchase is made, anything from plane tickets to buying a house.
Where did the Bitcoin idea come from? Well, years back I explored and got into some HYIP type ventures and profit sharing sites that already used tokens. But they disappeared with the program where they all eventually collapse or change plans. Yield Farming on the move through the years, not looking back. Always moving forward.
E-Gold is a memorable one. Digital currency backed by stored Gold. Ran from 1996 to 2007/2008 when the US Feds shut them down, which the E-Gold creators are now saying was a witch hunt and are actually fighting that ruling today in the courts. I still see the odd script or site where I see the E-Gold logo.
So ... I'm sure the Bitcoin creator got his idea from all these past digital tokens/currencies. For some reason though ... it just eventually took off where the new generation at the time where tired of high fees and the laws of the land.
MakerDao and Compound.Finance I mentioned in my past posts ... Once funded, interest compiles every 15 seconds. I'm thinking, this all looks familiar. Yep, I seen past scripts that had earnings added to principal every second. New fad for the HYIP venture seeker at the time. But, at a fixed rate.
However, MakerDao and Compound.Finance are designed different with fluctuating interest rates and 'lending' available in this new DeFi sector of Crypto that has attracted millions of dollars from members. All about supply and demand and 'non' stable coins also move up and down in price. Again, just the beginning as De-Fi evolves in the crypto space and they definitely are not HYIP's, although new startups get immediate attention from some yield 'seekers' if doable or not.
Projects ... from original ideas to those that get further developed from 'blasts from the past'.
Independence Day USA
What they call the 'Atlantic Bubble' is now open to all 4 provinces in Canada, NS, NB, PEI and NFLD.
I heard yesterday there was a 90 minute delay crossing over to New Brunswick from Nova Scotia as officials checked people out ... verifying no covid-19 symptoms. So, no 14 day quarantine now within that 'bubble' unless suspected or tested positive for the virus.
Spent some time reading up on Compound. Finance within the DeFi market. Got me interested and good timing with Coinbase Earn where I was in a lineup to learn and earn about Compound's coin ... COMP ... now trading on Coinbase.
In a nutshell, I can fund with the tokens available on Compound.Finance and earn the associated interest rate that fluctuates while getting added every 15 seconds. Automated once I added my 'MetaMask' crypto wallet. More reading to go as I enter this relatively new area in crypto and become a 'Yield Harvester'.
I am testing the system and can withdraw back to my Wallet at any time but there are more features to explore on the site as I got one foot in and one foot out so far. Been ongoing for over 2 years so I figure I'll probably be 'all in' for the long haul later when I get more comfortable with how it all functions.
Meanwhile, Bitcoin remains kind of flat with regards to decent gains in price. See what July brings in swings for the top crypto coin in market cap.
Happy Canada Day
It's a different Canada Day celebration this year as a limited number of people in groups or what they call bubbles, can gather depending on the province with keeping the 6 foot distancing in mind. Canada is 153 years old today, still a young country compared to others.
Bitcoin seems to be in a 'freeze frame' lately, not moving much. The Market maker for the majority of altcoins out there except stable coins.
There's lots of news about the DeFi and 'Compound' lately, now the largest by Market Cap in that category. In exchange for holding funds in the site, members get the COMP coin and that exploded in price nearing $400 USD recently but has come back to around near $200 and dropping where the 'bubble' burst on that until the COMP bottoms out in price as adjustments have been made (Now listed on Coinbase).
In these articles covering DeFi, I seen a new term for investors chasing the gains and money called Yield Farmers, or Yield Harvesters with no real fondness for the people creating the program ... just show me the money! Cool terms and I guess I'm one of those farmers always looking for the gain in these ventures. But one difference is, I support the ventures that treat me fair and they are rare.
Like stocks ... an investor can fall in love with one company and only invest in that one but when the price crashes and dividend gets cut, there is no love in return. Just grin and bear it. That's the cruel part of investing.
The North American stock markets continue to be shouldered with the rising virus numbers in the US for the second time although stats show a slow rise from the lows and panic selling of March. Here in Canada, businesses continue to open and ramp up. In Nova Scotia ... no cases for 3 weeks and counting.
However, struggling airlines continue to downsize and adjust to the new normal with hundreds of employees laid off for now.
Looks like the escalation of covid-19 cases in the southern US States and other hot spots have investors pulling back and a lot of 'selling' going on in the Markets wrapping up last Friday and with the Bitcoin. The word is, there's a lot of institutional investors involved now and growing. I got a feeling their stock market mindset is also being applied to the crypto marketplace. See how this plays out where usually Bitcoin begins to climb some as the Markets decline. Alternative market to make some money but Bitcoin is kind of following the S&P 500 ups and downs lately... the equity market.
Hopefully, states like Florida and Texas ... just two of many, will get the virus spike under control once again as they begin closing up areas and shops.
The one thing our Prime Minister, Trudeau kept repeating ... it's something that can't be rushed with opening the economy and borders .... very true. Nova Scotia was the last of the provinces to gradually make some plans to opening.
Meanwhile, I watch Bitcoin ... after it moves down and Tezos eventually follows, I buy when I figure it's low. Then wait for the gain knowing it's possible Bitcoin and then Tezos could drop like a rock for awhile but a rebound comes in time.
It's been a high humidity week and mostly sunny. I'm not used to that as an east coast Canadian. I'm in need of some rain day breaks in between and lower temps. Look like Nova Scotia will be opening it's borders to only the Atlantic Provinces for now ... in early July. No quarantine required for the travelling folks barring any covid-19 symptoms.
Interesting news with PayPal where they could be getting deeper into the Crypto side of things like 'buy' and 'sell' Bitcoin plus other altcoins/tokens. That could be a game changer if that monster payment processor jumps in and convenient for yours truly. I currently use PayPal as a middle 'company' to shuttle Bitcoin to cash for my Bank account. With this possible move to crypto, I could use PayPal for one-stop shopping for Bitcoin transactions. More news to follow on that.
Happy Father's Day
The Canada Revenue Agency or more commonly known as the CRA. Canadians like them when they get a refund. Not so much when they owe money. 2020 is a different tax season for 2019 returns with delayed tax filing and no penalties if owed taxes until September.. as of now.
If you owe money, notifications will be sent out either my mail or an email notification that there is a message(s) waiting in the online CRA account. But, they won't call you ... you'll get penalty fees added when not paid in full and eventually collection if no effort is made to pay. Then, it can get nasty.
Every year, people get scammed by crooks imitating CRA and even the RCMP/local police warn about this steady. But, people still get fleeced when they follow directions the scammers provide. Why people would fall for scammers requesting funds be added to a Bitcoin machine to cover what's owed and more .. I have no idea. I wouldn't even answer if it's a number I don't know with these crooks everywhere ...Bitcoin CRA Scam Callers
The 'WHO' reports some new active covid-19 in China but they are keeping it contained in an effort to squash their second wave. South Korea has twice so many approaching 50 active cases. An initial concern where this world wide pandemic originated in China was that it would spiral out of control again but that's not the case so far.
Bitcoin has been fairly steady with the price these days. I figure Whales that drive up the price by adding big chunks of money are wary they might get caught where the 'Sellers' or 'Bears' are watching/waiting for the opportunity to collect on decent gains. The 'rinse and repeat' thing for savvy Traders.
Here in Nova Scotia, no new covid cases in over a week and things are still ramping up on the business side of things where I see afternoon rush hours are getting busier. What they call 'social bubbles' are getting bigger. Down the road NS will soon open up provincial borders ... first to the rest of Atlantic Canada and then the rest of the country (that's when I figure we will probably get a few cases again). So, that means travelling inter province with out the 14 day quarantine required unless the virus count begins to tick up again.
DeFi, Decentralized Finance is getting more spotlight lately in the crypto world with millions pumped in since the start of this new sector. With these outfits that use their own developed 'coin' plus others, allows members/users to lend/borrow crypto and/or earn interest on 'staked' coins similar to a bank savings account but at a higher rate to make it attractive.
Interesting but one also needs to put some faith and trust in a DeFi for the long term while precious funds are in the works.
Besides all this, a new and upcoming DeFi's coin has the possibility to grow in value quickly as users come on board, which is happening with the Coinbase backed 'Compound' and their coin/token 'COMP'.
One needs to do their due diligence for sure and get a broad understanding of it all like all investments before jumping in with both sandals.
June - Saturday
Lots going on in the crypto and stock world. China is getting into a 2nd wave of Covid-19 looks like in the city of Beijing. A quick outbreak occurred at an outdoor fish market that looks like contaminated cutting boards while cutting up exported Salmon. China is acting swiftly to contain the virus. Hopefully, that's as far as it goes as Canada and the US are into restarting their economies after the first wave.
Fears of a 2nd wave coming here sent the stock markets into a big selloff Thursday but somewhat of a recovery on Friday.
Bitcoin came down as well and where I look at Tezos after the fact ... I made a trade (XTZ/USD) where Tezos followed BTC down in price. Now I wait to trade back to USD when the price goes back up.
Transat, one of Canada's more popular charter flight operators has plans to start international flights towards the end of July. I'm sure Air Canada and Westjet will be following if that all goes to plan. Once again all iffy with us coming out of the pandemic slowly.
Watching the price of Bitcoin these days, it's been fairly steady like long slow ocean swells. Last Sunday however, I noticed BTC down more than usual and checked Tezo's. Yep, it fell as well as I suspected so I made a trade from USD. Monday morning, Tezos regained it's price and I made close to a 4% gain in a trade back to USD in less than 24 hours so that's not too shabby. I'd like to repeat that daily but not going to happen so I wait and watch for the next opportune time to pounce, which could be anytime.
More people are being recalled back to work and small businesses continue to open their doors. Planning holidays are on the back burner for now I assume.
Being in the airline business for years, a lot of Canada's airline fleets are idle but being maintained ... eager to wind up again but that will take awhile. However, with folks working through the year, many will get that wanderlust on their precious few weeks off. I'm interested to see when that will start as investors are buying stocks of these airlines at the lowest they have been for a long time hoping for a climb to the skies in price. That will come in the future I'm sure.
If your watching the news, the covid-19 pandemic has taken a back seat for now to the spreading controversy over racism. Unfortunately, it lurks everywhere with some when it comes to race, color and creed with stories being highlighted in Canada after the uprising in the US; mostly involving police but it goes far beyond that. As everybody knows, words can hurt as well, beyond the physical violence.
The virus issue still lingers however but just the odd case now in the Atlantic provinces while hope for a vaccine will be ready for the fall with the annual flu season and probably a second round of the covid-19 if not before.
Although Ether, or Ethereum is getting more popular by the day, Bitcoin rules the crypto business and kind of holding in USD value for now as it seems the stock market weekly goings on has an effect on it's price. Last Friday was a good day in the Stock Market while Bitcoin remained flat.
Ether is getting more attention with it's use of automated 'smart' contracts that are designed to cut out 'middle people' and their usually higher handling fees. I've experimented with a couple and they work just fine but fees remain internal with the parties using the contracts although minimal so far.
'Stay Safe' is a common saying these days and used a lot with concluding emails or saying bye to someone, friends and family.
I also try to stay safe online when dealing with crypto and money matters. Successful Hackers are smart and some are relentless with trying to worm their way into secure Data and even what they call 'secure' isn't to a person fluent in 'code' but depends on the level used like Banks, etc., which comes with a hefty price tag I'm sure.
I've wrote some posts about Sim cards in the past about being careful using cell phones and doing financial business on them, specially crypto related. A good example here in an article , is how Hackers can and have gained access to SIM cards, practically taking over the cell and locking the user out once enough information is gained.
Staking ... what's Staking? There's nothing complicated about it and a term they use in crypto land where you can put an asset/coin/token into a site that has the option to earn a yearly interest rate that gets added weekly, twice a week or monthly depending on the site's rules. This option is separate from an exchanger's crypto 'Wallet'.
Like a savings account in a Bank only at a higher rate with the ability to keep the money liquid ... can transfer to chequing or spend direct from that account at any time. In Kraken for example, I can pull my Staking funds (Savings) at any time and add to my 'Wallet' or visa versa. A yearly 6% interest rate added twice a week.
Pro's ... a token can go up in value without adding any extra and earn an increased interest on the balance. (There's also that urge to pull the token and transfer back to the Wallet when a decent gain is seen but then no further interest payments are earned.)
Con's ... a token can drop in value and stay there for a prolonged period of time earning lower interest than initially funded. (That's where patience comes in to wait it out for the token to climb in price once again.)
I haven't seen a site that has a 'Stable' coin for staking yet so the pro's and con's wouldn't apply to stable coins where they stay on par with a currency 1:1 like 1 PAX = 1 USD.
There are other crypto sites I'm watching that have the Staking feature but one also has to have that trust in them to be around for the long term.
Blockchain.com is one I trust where I have a Wallet with them but unfortunately I'm a Canadian. Otherwise I'd be doing their new Staking option ...
"We know that many of our customers are long-term holders of crypto. HODLers, if you will. So we thought we’d make it easy to put those crypto holdings to work. Simply visit your Blockchain.com Wallet, select the Earn Interest, and open an Interest Account today to immediately begin earning 4.5% annually.
Banks around the world are not only cutting the interest they pay on savings accounts to near-zero, some have even introduced negative interest rates. Compare that to 4.5% and it’s easy to see why it pays to hold crypto in an Interest Account.
We designed the feature to be:
Simple — Once you’re verified, it only takes 5 clicks to deposit your BTC directly from the wallet.
High-yield — Earn up to 4.5% annually with no max cap on deposit. The 4.5% rate applies no matter whether you are depositing 0.1 BTC or 100 BTC.
Secure — As one of the oldest and most trusted names in crypto, you know your bitcoin is safe with Blockchain.com
The interest accrues daily, is paid monthly, and represents an annualized rate. It’s only available to users who have verified their identity with us, and who live outside Canada, Japan, and the United States. The current minimum deposit is $300 worth of bitcoin.
What are you waiting for? Log in to the wallet and deposit bitcoin to an Interest Account today."
Nova Scotia continues to loosen restrictions and shops forced to close by Health orders will be allowed to open on June 5th. Family and friend bubbles got bigger along with dates for provincial park openings. We usually get lots of tourists and visitors but that will be delayed this year probably until the fall. The cruise ship season which is big here in Halifax is scrapped for the season. Many businesses and tourism Nova Scotia gain millions during the yearly migration of these huge ships but health is more important right now.
As Bitcoin climbed in value the last couple of days ... Tezos followed suit so I made a gain with a Trade; Tezos to USD today. I can predict and time a Trade better watching Tezos 'after' Bitcoin moves if that makes sense. One of those things that works 'most' of the time.
Some interesting and positive news today after the ongoing doom and gloom with the Covid. The NHL is gearing up for summer playoff hockey and my team, the Montreal Canadiens, which would normally be out if the normal season ended but now 'in' with the new format playing the Pittsburgh Penguins.
NASA and Elon Musk's SpaceX is set to launch two men into space today wearing their new sci-fi movie type suits. The start of expanding missions into space if all goes well. (Delayed until May 30th ... Saturday depending on weather)
With the crypto scene, Bitcoin has recovered from a couple of Bear type days when there was a lot of selling.
Facebook has made a change up with their multi-coin crypto business and Calibra has now changed to 'Novi' for the name of their 'wallet' site. Probably where Calibra was associated with their legal wrestling match with the US that didn't work out in their favor. I imagine it will be big hit on the International scene when they gear up for launch. Being a Canadian, I'll see if I can set up a Wallet when it starts, depending on countries allowed in.
Buying the Dip? ... it seems some 'Whales' moving Bitcoin worth hundreds of thousands and millions worth in single transactions has sparked a sell off currently. 'That fear of losing value with no possible regain' thing I ignore. But, buying more crypto on the way down (hopefully at the 'bottoming out') is what comes to mind for when it rises once again in value. Like everything, it's risky business and no timing it ... just a gambling guess from watching the crypto news and alerts.
As I mentioned in previous articles, I prefer Tezos where it's very easy to own and at a low price per coin; affordable by all plus a legitimate token.
Like most altcoins, it tends to move with the price of Bitcoin. I bought more today on the inkling that it will rise from it's current price. More than likely, Tezos could drop further in price before another 'swing' upwards happens.
Here in Nova Scotia, we are behind the other Atlantic Provinces in opening up with the covid-19. We remain at 1 case per day. Word is, shops forced to close by health orders may be allowed to reopen early June while more shops in Malls plan to open and some have already opened. Hopefully all goes well and people continue to do their part with distancing, etc.
With a 'string of luck', a 'Bull' type investor can make huge gains in cash or crypto while many of these type of investors don't want to think about possible losses or the worst scenario that can happen. That's what keeps a lot of cautious investors from taking additional risks and chances they could be missing out on. That mindset ... better to hold on that opportunity than possibly be out hundreds or thousands of dollars.
An article caught my eye and gets into that. Some of these type posts come with lessons that are good to know going forward and may come in handy at some point but all investors from small amounts to 'whales' trip up from time to time, no matter how cautious ... while keeping the downside in mind but 'all in' going after the upside of it all ...
Looks like we are finally getting into some decent weather here after a soggy and cool spring in the Atlantic provinces of Canada.
Backlog ... I'm one that's involved in a logjam of pending transactions with Blockchain.com and Fees are up like I figured. Good job I have lots of patience to wait while I keep busy.
With Fees, it's like shopping around for a better deal when your focused on an item you want. There are a lot of exchangers out there and I'm in a few but find Coinbase has the best rate in comparison to date. A difference of $3 USD, I didn't have to dole out yesterday to move Bitcoin in the normal time frame with a transaction. A noteworthy article here about what's going on currently with 'backed up transactions and fees'.
I expect 'small business' here in Nova Scotia to open soon while many are hurting to keep things afloat and could be slow going for awhile. There's only so much cash reserves for the business before thinking about personal and family. I don't expect much change in the covid-19 issue here which could hang around for months, the rest of this year and possibly beyond with social distancing, etc.
Personally, I miss shops like Chapters ... browsing around in the morning with coffee in hand.
Crypto and the Bitcoin markets remain on a high. Good to see compared to the 'shaky' stock markets although up in the 'green' today while Canada's TSX is closed for the holiday.
The big draw with Bitcoin from the start was the low fee and fairly quick person to person transfers. Mainly using it all as a type of payment processing on my end. Heading for mid 2020 and after the 'Bitcoin Halving', I'm seeing higher fees, but reasonable at times.
There's talk of the UK possible going to negative interest rates. Ouch! Don't want to see that here or I'll be pulling all my cash from savings accounts. I'm not going to 'pay' my Bank /and or FinTech to keep money in a savings account. I don't expect that to happen here however but these are strange times not seen before in my lifetime.
The start of the camping weekend in Newfoundland where I grew up was called 'the 24th of May' weekend but in 2020, the long holiday weekend is here with Victoria Day falling on the 18th. In Newfoundland, it could be the nicest kind of day for pitching the tent and having some fun but could wake up to a foot of snow on the ground the next morning where the winter type stuff tends to hang on later than here in Nova Scotia.
Lifting more restrictions here, folks can go out and enjoy the outdoors if they wish along with boating and hitting the beaches all with social distancing in mind.
The compounding investor losses during these covid-19 times for a lot where there's no head nor tails to the Markets. Builds up stress and panic in some while economies are slowly opening in stages but in some areas, that had to go in reverse due to more virus cases and then there's the looming '2nd wave' top Doctors expect to come at some point when things open up more.
With crypto ... positive so far as bitcoin, the benchmark for Altcoins, is staying up in the $9,000 grand level so far.
On the negative side and just for folks involved, Telegram threw in the towel with their legal battle against the US SEC, and scrapped their gram token plan. Now they owe investors 70% of their principal deposits with no date on when that will happen yet ... about 1.2 billion to be paid back on their promise to make that happen while investors take a loss. Always wise, specially in the US, to keep the ever watching SEC in mind when big money schemes ramp up online. Facebook knows what that's all about but they continue on track planning for an outside US or 'offshore' launch at some point with their token and exchange plan.
With the crypto community, the much anticipated 'Bitcoin Halving' has come and gone with the next halving happening in another 4 years. Anticipated because that event in the past has been followed by a decent Bull run but circumstances are different today for many reasons although there is a spike in the price of Bitcoin today.
The only negative part is possible higher fees for transactions and see if that holds true for the long term or just because the blockchain is busier today
Here in Nova Scotia, there is no change as yet while we remain in a State of Emergency although talks are ongoing about opening up more ... in stages.
Happy Mother's Day to all the Moms. Normally a lot of Moms would get treated to a Dinner out but with restaurants closed here except for takeout, it's a different year and time for sure with the adjustments we have all had to get used to.
New Brunswick, bordering the province of Nova Scotia is opening it's economy more rapid than Nova Scotia which looks like the end of May or 1st week in June for here so far. Schools are now closed for the year and that's a good move. Prime Minister Trudeau warns of opening everything too quick could bring on more cases of Covid-19 and he's probably right. See what happens as we remain in a State of Emergency for now.
Looks like the Bears or 'Sellers' got nervous and Bitcoin dropped from a near 10 grand USD level the last couple of days. The 'Bitcoin Halving' occurs on Monday, May 11th and those who had selling on their mind probably figured it would drop in price after the 'Halving' but the Bitcoin crypto market is unpredictable as always. There could be a another climb in price yet.
The numbers of covid-19 cases are slowly coming down or what they call 'flattening the curve' here in Nova Scotia. I imagine small to large business owners that have been shut down since mid March are now thinking about how to comply with social distancing measures and what needs to be done to their shops in modifications. There will be recommendations from health officials I'm sure in the near future as other provinces are opening sooner.
As a crypto enthusiast, the main event these days is the rising price of Bitcoin with speculators assuming it's due to the nearing 'Halving' date. More US 'Whales' or big spenders are getting involved as well.
When 'Markets' are down, some investors search for alternative ways to add gains to their money.
Wondering what the Bitcoin Halving is all about? Here is a detailed information document from Kraken explaining what it's all about and why it raises interest levels with some Bitcoin holders ...
Not too keen about the part where 'fees' may be higher for doing transaction as Miners get paid less and Bitcoin becomes a tad more valuable with each 'halving' but that happens at times when blockchains becomes extra busy.
The Nova Scotia government has taken the first steps to loosen restrictions although the State of Emergency continues. Parks and trails are now open. Beaches and playgrounds remain closed. They'll monitor this and look at opening up more with clinics and businesses next that were forced to close due to the spread of the virus concerns.
Bitcoin is moving opposite to the Markets these days as it flirts with the $9000 USD level. Markets were down yesterday with already old news about the economy etc. but reacts Monday to Friday in different ways that sometimes ... makes no sense. April with all the shutdowns in Canada and millions laid off, the Canadian market index, TSX gained 10%. Go figure
Looks like we are starting to get the covid-19 spread under control here in Nova Scotia while restrictions remain in place with no plans to lift them gradually as yet. Good news so far.
What will happen when inter province travel resumes with no 14 day quarantine requirements? ... probably bring on some more cases to be dealt with but that's in the future. One step at a time they say.
Bitcoin began soaring yesterday, spiking to $9400 USD after midnight today. That perked some interest in the crypto world bringing up other coins as well.
Telegram has decided to reschedule launch of their Gram token to April, 2021 with a 72% refund to original buyers or wait to get a 110% return after launch. That won't be happening in the USA however. They have a 1.2 billion dollar float available for refunds.
Interesting ... take a 72% of principal refund now or wait for a possible 110% in April 2021? I'm not involved but being In Canada, which usually sides with the US decisions on these matters, I would take the 72% and look to add growth to that, eventually recovering my initial spends and more.
Two provinces here in Canada have plans for a gradual lifting of restrictions over the next two weeks. Here, in Nova Scotia ... no change as covid-19 cases continue to be from 20 to 40 cases per day. Mostly in retirement homes in the province. Latest is, a few more weeks before things being to open here unless a drastic drop in infections.
The stock markets had a couple decent days to finish the week and Bitcoin is moving up in turn. Tons of issues on the go however in almost every sector as governments print more cash to prop up the falling economy for now. Billions of dollars.
With my April 18th update, Tezos is once again repeating that scenario ... on the move up. Looking good until Bitcoin drops once again.
I like this quote when it comes to predicting the future with investing and the current ongoing calamity with the price of oil per barrel;
'Even this week, a barrel of expert forecasts is worth less than crude itself'
In general, there's not a lot of new investing going on with the economies in North America practically at a standstill while the Covid-19 virus continues to make it's way through the population since March. With the price of oil going into the negative for the first time ever, that also has a huge impact on that industry. The price is up some today but has a long way to go to get back to at least the $50 USD range.
Pre-virus, crypto enthusiasts talked about Bitcoin soaring in price before the Bitcoin Miner 'halving' and with that event 19 days away, I didn't expect that to happen although still time. Too many issues these days within crypto and the virus shutdown keeping many holding on to their cash or the bitcoin they own now.
Facebook is in the news again lately with their 'in the works' crypto currency outfit called Libra Association, out of Switzerland. Their crypto wallet site will be with Calibre, setting up in Ireland where a number of big name companies go to avoid high taxes.
One main change is the setting up of multiple 'coins' ... one for each countries currency they will be involved with instead of the previous one coin ... blanket coverage for all currencies.
I'm watching the theory that Bitcoin is following the S&P 500 in the stock markets. Today, that looks like the case as the S&P 500 is down and Bitcoin is falling as well after holding fairly steady over the weekend when the stock market was closed. See this week if there is any positive news that gets the Market back in the up mode (green) despite the virus fallout and oil continuing to fall in price.
While we have a cooler than normal spring on the go here in Nova Scotia, no changes so far in our current State of Emergency here with the latest updates about a possible lifting of restrictions in a few weeks.
There is kind of a correlation between the movements in Bitcoin price and the S&P 500 in the stock markers. The Markets finished this week in the green yesterday and Bitcoin is moving up slowly some today.
Tezos (XTZ) is an interesting token and certainly affordable to buy with a range lately of $1.50 to $2.50 USD.
On the 1st of April ... worth $1.60 USD and today worth $2.25 at the time of this posting. Good for some Trading fun ... for example:
I invest $100 in Tezos at $2.00 each ... 50 Tezos worth. A week or two later, it rose up to $2.50, which it has done a few times since I got involved.
That original $100 gained $25 for $125 worth of Tezos. Like 'comfy couch' gains, just watch the charts/prices and trade.
Like most tokens, Tezos follows the ups and downs with the price of Bitcoin.