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| HEALTH, WEALTH, AND HAPPINESS |
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| “If you want to use your full amount of steam, you must close your valves and direct your power of generating mental steam toward one end. Center your mind on one purpose, one plan, one transaction.” - Theron Q. Dumont |
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The New Get-Rich-Faster Job in Silicon Valley: Crypto Start-Ups (New York Times): "Tech executives and engineers are quitting Google, Meta, Amazon and other large companies for what they say is a once-in-generation opportunity with crypto."
Investor takeaway: When Silicon Valley is waking up to the power of crypto, you know crypto investing is the place to be. Look for plenty of opportunities in the year ahead, and in the meantime, HODL the GODL. |
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| Blockchain spending is expected to triple over the next three years, from $6.6 billion to $19 billion, according to Statista. |
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| Investor takeaway: This is why Silicon Valley is going nuts over crypto. Blockchain jobs, spending, and infrastructure are expected to explode ... which means many more investment opportunities. Get ready! |
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Hi Everyone,
The good news is that Ethereum gas fees are down today. They've been declining quite steadily over the last six weeks, as crypto prices, volumes and even hype have been gradually dissipating.
This morning, I was even able to send an Ethereum transaction for only $8.39. Note that the word in the previous sentence is only in italics, but you can read it as if I was making a giant quotations hand gesture in the air.
Of course, this was a simple wallet-to-wallet transfer and did not involve any smart contract computation, which can be quite costly. It was also at an off-peak time for the network.
Here we can see the average cost of an Ethereum transaction ever since fees started becoming an issue in July of last year. |
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To answer the question that I was been reluctant to address on social media this morning, the transfer was intended for a purchase at a unique NFT auction.
The non-fungible part of the market is certainly down with the rest of them, but it is certainly not out.
According to the NFT Index, prices are now stabilizing around where they were at the beginning of last month. In the last week alone, there have indeed been several notable sales. |
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Valuation
Sure, I love helping people make money in the crypto market, and I support many collaborative efforts, including raising money for several projects at the moment (this is not an offer to purchase securities).
However, when it comes to an auction, let's just say that the fewer people there are who know about it, the better.
That's why I felt like this particular auction was speaking to me. Bicycle Playing Cards has done close to zero promotion or public relations work for their 8008 card NFT drop, and only 24 cards that appear in the special edition will be available through the the special auction.
Last week, we had the honor of hosting Mariia "Masha" Levseieva, Global Brand Director for Cartamundi, a card and game manufacturer that owns Bicycle Playing Cards, in our Twitter Spaces, along with the folks from Epics Collectibles, who are performing the mint, and the 3D artist responsible for this amazing work.
As with all NFTs, the valuation here is extremely subjective, but it is an auction, so it's clear other people are also bidding similar amounts.
In researching this collection, I did come across an article that provides a framework for evaluating unique and antique playing cards. Apparently, the range is quite wide, and today, it has been widened considerably. |
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Clearly, there's a wide gap between $16 for a card from the 1800s and what these cards just sold for.
Part of that gap is covered by the physical collectable case that comes with a unique one-of-a-kind collector's deck and an LCD display, which Levseieva explained is approximately $1,000 worth of materials alone.
Another part is when we think back on this period of time when many major brands are discovering web 3.0, this company, founded in the 1800s, just brought their brand into the 21st century with an impeccable execution.
When I try to think ahead and picture how our current times might seem in retrospect, I think that this is the type of thing that might stand out for future collectors.
More than that, it speaks to me now, even though I have no idea whether the value will double or halve in the next few years. |
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Ace of Spades
It's by far the most powerful card in the deck, and for 3.6 ETH, it now belongs to me. Can't wait to enter an exclusive Bicycle event in the metaverse using this bad boy as my entry ticket, or for the glass case to arrive with the physical collector's frame and LCD display. |
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Anyways, I suppose this is as good a place for a smooth transition as any. Analyst Evamarie Augustine recently wrote her latest research piece, a comprehensive overview of central bank digital currencies written for beginners.
With special thanks to Iron Maiden for the title of today's newsletter. Hope you have an awesome day! |
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| Mati Greenspan Analysis, Advisory, Money Management |
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| With all the work involved, maybe "DeFi" stands for "Demanding Finance." |
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Bitcoin Market Journal is a daily newsletter focusing on blockchain and crypto investments. It is written and edited by Evamarie Augustine, Charles Bovaird, Mati Greenspan, and John Hargrave.
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