Also on my blog with better formatting, cute footnotes and inlined images. Note that not much here is new material, mostly rehashing existing points.
Disclaimer
This article started out as research for my betting against Bitcoin on the stock market. This isn't financial advice. As a matter of fact, I encourage all readers you to not buy or short crypto, through any market or derivative. Use your money for productive uses. Here's a TL;DR:
The current parabolic price increase in Bitcoin is a bubble that has started popping.
A stablecoin called Tether is either one of the largest frauds or money laundering operation in history, and is providing most of the liquidity in the cryptocurrency ecosystem.
Proof of concept: No argument here, but now that the market cap of cryptocurrencies is closing in on a $700B, this seems moot.
Cheap Payment Network: Nonsense, since BTC transactions are currently >$10 and this worsens the more people use it.
Anonymous Darknet Currency: I'd have said "no argument here", but apparently it's surprisingly easy to trace BTC nowadays. However, crypto ecosystem as a whole seems to do a decent job at laundering money as we'll see later.
Reserve Currency for Crypto: Since a reserve currency should be useful as a means of exchange, and I wrote several thousand words on how BTC is not that, my position is pretty clear. Also, the fact that a cryptocurrency indexed to the US dollar has trounced BTC as the main means of exchange in the crypto ecosystem speaks for itself.
Programmable Shared Database: You know what's programmable, shared and a database? The database we use at work. Just learn to implement access control lists on your SQL server.
Uncorrelated Financial Asset: Given BTC crashed just like the rest of the market when COVID showed up, this doesn't hold up
The stupidest version of the "uncorrelated asset" argument I hear is "Bitcoin is a great hedge for inflation!" You know what's a good "hedge for inflation"? Literally anything. The definition of inflation is "the price of money". If the price of money goes down (inflation) then everything else has a positive return by comparison. People who say "bitcoin is a good hedge for inflation" shouldn't be trusted to manage their own money, let alone give financial advice to anyone.
Censorship Resistant e-Gold: This is a roundabout way of saying "BTC is a store of value"! Which, again, can only be said by people who've never read the definition of "store of value" in a textbook.
I already went into detail into this, but BTC is a terrible store of value because it's volatile. Assets that can lose 20% of value overnight don't "store value". BTC is a "vehicle for speculation". The only way price is sustained for BTC is that you can find some other idiot to sell it to. Just as a reminder, 50% of Gold is used for things that aren't speculation, like Jewelry, so you'll never have to worry finding a seller there. Here are some real uses for bitcoin:
Gambling is fun. You buy BTC, the price might go up! Or down! This is exciting.
Hackers, money launderers and other criminals certainly find cryptocurrencies useful.
Reminder: BTC is an ecological scourge The current cost to mine a BTC is around $8000 in electricity. This electricity mostly comes from subsidized coal in China. And given the current amount of BTC generated each day, we're using about equivalent to the electricity from all of Belgium, largely in coal, to keep this going. I don't mind wasting time on intellectual curiosities, but destroying our planet for glorified gambling is not something I'm happy about. I want cryptocurrencies to go away entirely on this basis, philosophically.
Current BTC prices are a bubble
Before we go into tether, reminder that at the time of writing, the plot of BTC price against the S&P500 looks like this BTC price has increased by ~800% since March. Still, no one uses it for anything useful since the last bubble in 2017, or the other one before that in 2013. This is another bubble however you put it. BTC is not "new technology" 10 years the internet became popular, Google and Amazon already existed. We're 8 years after the popular emergence of deep learning and it has already revolutionized machine translation, computer vision and natural language processing in general. You could argue that deep learning and the internet existed before their emergence, but so did cryptocurrencies. Look up b-money and hashcash for instance. Bitcoin has existed since 2008 and emerged in popularity around the same time as deep learning did, yet we're still to find actual uses for it except speculation and criminal uses. It's a solution waiting for a problem. Institutional investors are also idiots The narrative this time is that "institutional investors" are buying into BTC. This doesn't mean it's not a bubble. Many of the institutions were buying through Grayscale Bitcoin Trust. Rather, many of them were chasing the premium over net asset value that hovered around 20%. Basically, lock money in GBTC for 6 months, cash out and collect the premium as profit. Of course, this little Ponzi couldn't last forever and the premium seems to be evaporating now. Similarly, totally-not-a-bitcoin-ETF-wearing-a-software-company-skinsuit Microstrategy (MSTR) trades at a massive premium over fundamentals. There will always be traders chasing bonuses from numbers going up, regardless what is making the number going up. The same "institutional investors" were buying obviously terrible CDOs in the run-up to 2008.
Tether is lunacy
Tether is a cryptocurrency whose exchange rate is supposed to be pegged to the US Dollar. Initially this was done by having 1-to-1 US Dollar reserves for each tether issued. Then they got scammed by their money launderer, losing some $800M, which made them insolvent. Anyway, now tether maintains their reserves are whatever they want them to be and they haven't gotten audited since 2017. You know, normal stuff. There's a problem to backing your USD-pegged security with something that isn't US Dollars. Namely, if the price of the thing you're backing your US Dollars against goes down, you're now insolvent. If you were backing $10B in tether with $10B of bitcoin, then the bitcoin drops by half, you're insolvent by $5B. And then this spotlessly clean company they somehow added $20B to their balance sheet in the second half of 2020 Reminder: one side of that balance sheet is currently floating around the cryptocurrency ecosystem. Cryptocurrency traders own it as an asset and sell it to others. The other half of the balance sheet is whatever tether wants. There are only two possibilities that explain tether's growth:
It could also be a happy mix of both. One particularly interesting date is 30/8/2020, where tether added $3B to its balance sheet overnight. This is interesting because it predates the subsequent movement in bitcoin price and large movements in other cryptocurrencies. The story from tether and tether's bank's CEO is that this money largely comes from foreign nationals through an OTC desk which implies the transaction goes as following:
That OTC desk converts the money to USD and sends it to tether's correspondent US bank. The OTC desk gives tether to the foreign national.
Wait tether has a correspondent US bank?
Oh, I forgot to mention, no bank wants tether as a customer because they obviously break KYC/AML compliance. So tether first boughtinvested in a bank called Noble which then lost its relationship with Wells-Fargo when they realized tether were lying to them about AML. Poor tether lost its legal access to USD. Tether has been banking in the Bahamas with a bank called Deltec since. First they had a money launderer called Crypto Capital Corp to send funds to customers, who stole the $800M from them and subsequently went to jail. But worry not! Tether found a way to get banked in USD afterwards. Curious coincidence, an executive at Deltec was randomly blogging about buying small US community banks in 2018. You know, that thing money launderers do. So tether's story is that in 2020, they took in roughly twenty billion USD of shady foreign money into the small community US bank their deltec bankers bought. These transactions are necessarily breaking KYC/AML. The foreign parties to those transactions wouldn't take such a rickety route to convert billions into cryptocurrencies if they weren't laughed out of the room in serious banks. But of course, Deltec will say it did KYC on tether. Really solid KYC, clearly, since they're the last bank on earth taking tether's business. Tether says they do KYC on their customers (the large OTC desks). And I'm sure the OTC desks would be shocked, shocked if the cash money they get in Russia and China turns out to be dirty. So everyone can pass the buck of responsibility down the road and claim "We do KYC on our customers". Sure you do, tether. If you did such great KYC, you wouldn't have such problems finding banking relationships. I mean when even HSBC is not doing business with you you're apparently more obviously moving criminal money than fucking drug cartels. And, according to tether's people, this money is what's backing tether's reserves. Money that will get frozen the instant a prosecutor even looks at it. Reminder: the above is the charitable, positive case for tether. The less charitable case is that they took crayons and added zeros to their balance sheet, and that there's a couple billions waiting to burn a hole in the crypto ecosystem. Anyway, the $25B garbage fire that is tether will make a great book/netflix series at some point and their hilariously stupid CTO going on podcasts while flinching on questions about how BTC ended up on their balance sheet will be a fun part of it. But I'm not here to write a book, I'm here to make money by shorting all of this. For my purposes, even in the positive case tether is a ticking time bomb waiting to burn a hole in the crypto ecosystem, because...
KYC and AML are coming for cryptocurrencies
If you listen to "crypto news", all incoming crypto regulation is just great, because that means crypto is becoming legit. However, companies investing in crypto are very angry about them. This is because crypto transactions break the FinCEN travel rule, where KYC information should "travel" along transactions, to prevent money laundering obfuscation schemes. Of course, according to the crypto industry this is "stifling innovation". A more reasonable take is that by being leaving the crypto industry outside normal financial regulations, we're enabling a "race to the bottom". As we saw with shadow banks in the 2000-2007 era this leads to "creative banking". I don't want my bankers to be creative, I want them to be solvent.
Tether's effect on the crypto ecosystem
When tether implodes, it's taking most of the crypto industry along for a fun ride. Tether can implode in one of a few ways:
A BTC price crash triggers it. If
Regulators decide they've had enough of AML avoidance and regulate them.
The NYAG investigation, which is waiting for an update in a few weeks, finds something and shuts them out.
Let's assume tether falls to $0 for simplicity. The analysis is the same directionally if tether significantly "breaks the buck". This doesn't happen instantly, but it happens quickly. The peg breaks, and most people holding tether will try to sell it for other crypto (BTC, ETH, etc.). This puts downward pressure on the price of tether, incentivizing even more people to "pass the buck". Automated inter-exchange arbitrage bots might try to exploit emerging gaps in bid-ask spreads, only to end up with worthless tether instead, as their operators rush to pull the plug. Then, we have a small village of cryptocurrency enthusiasts being out some $24B. With the trading bots turned off and the trading lubricant (a dollar pegged asset) gone, the bid-ask spreads blow up. You get a predictable flight to safety -- that is, to real money. This puts downward pressure on BTC. While all of this is happening, there are all sorts of fun second-order effects happen. A lot of DeFi derivative products are priced in cryptocurrencies, so having normally stable prices shuffle around (eg. USDC price moving above $1 in a flight to safety) triggers a tsunami of margin calls. Some exchanges might insolvent (they're the ones redeeming tether for USD after all).
If BTC price drops below $8000, fun things happen
Currently, the price to mine a BTC is roughly $8000. Most of the mining comes from huge mining farms using subsidized coal in China, and mining costs more the more hardware there is to mine it. Since the price of BTC hasn't substantially dropped below cost to mine we're in for a fun experiment if the price drops below this threshold. Most of these farms should turn off so that the price to mine comes back to breakeven in a case of prisoner's dilemma. But if too much hardware turns off, this leaves mining hardware idle and the door becomes wide open to a 51% attack. It's not clear at what price below breakeven cost to mine a 51% attack becomes a serious threat, but once this threshold is crossed, we're in the "irreparable harm to BTC" risk zone. And for a person like me, who just wants to see crypto disappear forever this is very exciting. Maybe those mining farms could be replaced with nice forests soaking up all the carbon they emitted for posterity. One can hope.
How do I bet against all of this?
Microstrategy (MSTR) is, at this point, a bitcoin ETF wearing the skinsuit of a dying software company. Michael Saylor, MSTR's CEO, is quite the character. I wrote a lot about his lack understanding of what a currency is, but it's on another level to look at the early stages of a bubble pop and decide this is a good time to buy $10M more of the stuff, as seen here However, this bubble is tame by Michael's standards. Look at the historical stock of his company What's happening on the left is that Saylor pumped the numbers with accounting fraud then the SEC took issue with the fake numbers. The stock dropped 90% practically overnight. Their accountants, PWC, paid $51M in fines. Saylor and friends paid fines, partly with company stock. You could also short GBTC, but when Mr. Saylor provides you with an options market instead, why not use it? Shorting on crypto exchanges that might become insolvent in the very event you want to happen with this bet is a bad idea, on the other hand.
Mike can't cash out
The bitcoin market is illiquid and leveraged when it comes to real money coming in and leaving the ecosystem. Buys in the $10M-$100M seemingly move the price of BTC by upwards of $1000 in the last weeks. This means hundreds of millions of real money means tens of billions in movement in BTC market capitalization. Now imagine what cashing $1.1B of BTC into real money would mean for the price. And this is purely in market terms, before the PR damage from bitcoin's demigod abandoning ship would have second-order effects. Saylor has painted himself into a corner. Even if he wanted to cash out, he can't.
MSTR fundamentals: Why it should be valued below $10
In early 2020, MSTR was a slowly dying business. The EBITDA has been rapidly evaporating in the last 5 years At that point, MSTR a stock price of $115 meaning a market cap of $1.1B. This included some $560M of cash they were sitting on. I presume the remaining $550M was an implicit sales premium for the inevitable private equity firm investors expected was going to relieve them of this stock and make the business profitable again. Of course, they didn't sell. Instead, they took the $560m they were sitting on and bought $400m of BTC at prices $11k and $13k in late summer 2020. Then, in early December, they took on $600m of debt to buy BTC with at $23k. They also bought $10m more in January at a price of $30.5k. At this point, we can mostly value MSTR like a trust.
Price the underlying software business as being worth $600M, as the market did before the bitcoin nonsense. If BTC went to $0, this is what we'd value it at, and the MSTR stock should be around $65.
But wait! MSTR took on $650M in debt in December. Their actual value with a BTC priced at $0 should be much, much lower than $65 depending on how you value the debt. You could make an argument it should be in the single digits.
They hold 70,784 BTC. At current prices ($32,000) this is worth roughly $2.2B. With the current market cap of MSTR ($577 stock price), this means MSTR is currently priced at an eye watering $3B premium over fundamental value.
GBTC's 20% premium-to-NAV is a joke compared to the MSTR premium.
Why Dogecoin to $1 is Only a Matter of Time The Bubble It’s February of 2021, and let’s be completely honest: We’re in a bubble. It’s kind of like 1999 but not the same. In 1999, interest rates were much higher. Today, they are nearly zero. In some countries, they are even negative. From a long-term perspective, this is very bad. The Federal Reserve is completely to blame for this. Their policies are entirely reckless, and officials refuse to acknowledge what is going on here. The Coronavirus hysteria caused by the media and enabled by officials made the crash last summer the worst man-made disaster in the history of our financial system. The Great Depression was caused by over-speculation and a lack of regulation in an emerging financial system. The Great Recession was caused by greed and fraud (strangely, no one is in jail for this). This market collapse was caused by elected officials and the fed, who got trigger-happy and cut rates to zero back in the spring of 2020. Whatever we wind up calling the burst of this bubble is to be determined. It will, however, be entirely manmade because the fed refuses to acknowledge the speculative behavior currently going on in SPACs, Cryptos, Penny Stocks, and anything else that serves as a legal Ponzi scheme for inflating the bubble. Even real, dividend-paying stocks have gotten way overvalued in some sectors. Also, since the fed has no plans of raising rates within the next two years (so they say for now, at least), if you’re searching for yield, you have nowhere else to look than the equities markets or one of these legalized forms of Ponzi schemes. It’s extremely unfair to conservative or retired investors looking for an honest return on their savings. This all is actually why it is a great time to look at Dogecoin, as I will get to in a moment. So long as rates are near zero, the bubble will continue to go on for longer and longer. And while it continues, people will constantly look for the next big thing. For How Long? Now, this may sound all doom and gloom, but that’s not my point. One day the bubble will burst, but I’m not making a prediction of when that will happen. Anyone making up dates for when the bubble will burst is either clueless or a con artist. No one knows when this bubble will burst. It could be weeks, months, or even years. One thing is for sure, the bubble will not burst just because things are overvalued. That’s not how bubbles work. There needs to be a catalyst to burst the bubble. A major military conflict. An unexpected move or comment by the fed (raising rates, calling out the bubble for what it is, etc.). Another nationwide lockdown. I can go on with examples, but a little selloff here and there (August 2020) that causes the financial media to lose its mind is not enough. Just because you claim the bubble is bursting isn’t enough either. If you follow the media, you will get burned over and over again. That’s how it works. They want you to go to their sponsors for help, and once they burn you (sell you gold, overcharge you for poor investments, etc), you’ll come back to them hoping to figure things out. It’s a shell game. When the bubble burst, it will happen extremely fast and unexpectedly. There’s nothing wrong with playing the bubble, but you need to be mindful of when it ends because once the music stops, there will be a mad rush for the exits. You don’t want to be stuck holding the bag because everything will get crushed when the bubble burst. Even the blue-chip stocks that pay solid dividends will get hammered. Fundamentals Don’t Matter (For Now) In this bubble environment, fundamentals don’t make sense and, quite frankly, they don’t matter. You can argue back and forth all day long about whether something has a practical future or whether something is overvalued. I’m not here to do that about Dogecoin, Bitcoin, or any other crypto. The same could be said about Penny Stocks right now. (Hint: virtually all of these companies are way overvalued). You can find tons of articles of that nature, and I’m not likely to change your preconceived notions anyway. If we look at all the irrational bubbles that have occurred lately, you are a complete fool if you believe that TSLA or BTC is worth nearly a trillion dollars. It’s worth nowhere near that valuation. How do I determine what something is worth, and who do I mean? It is called the market cap. In layman’s terms, that is where you take all the stock shares and multiply it by the share price. And I’m not recommending buying or selling TSLA or BTC, I’m just pointing out that these valuations are absurd. Does that mean they will not pass 1 trillion dollars? Of course not. There’s a very reasonable chance they do pass a $1 trillion market cap. That sounds absurd to write but it’s true. When the bubble bursts, you better believe fundamentals will be back in play. This disconnect can’t last forever. But it can go on for a while. And while it lasts, we all want to make some money A Quick Word About ALL Cryptos While I don’t believe Cryptocurrencies are going anywhere (as in, people will always buy and sell them), I also do not see any APPLICABLE future in them other than trading with other people. In fact, the biggest use I see of Cryptocurrencies is for illegal and untraceable transactions. The government will do all they can over the next several years to bring in lost tax revenue and track transactions better, but that’s the extent to which Cryptos will have relevance. How do I know this? Because the federal reserve, which is backed by the taxing authority of the US Government and the might of the US military, isn’t about to let some alternative currency usurp the US dollar. How do you think we can afford to provide all this government stimulus to fight Covid? If you think about this, you will see why other countries are much worse off. They must play by our rules, while we get to export our inflation to other countries because they must use the USD to buy commodities on the international exchanges (look at what happened when Saddam tried to circumvent this). If they print more money, their currency gets devalued. That’s why as bad as things look, relatively speaking, the US isn’t in terrible shape compared to the rest of the world. If your financial future is so married to Bitcoin, ask yourself this: what happens if your account gets hacked? Who will you call? Who will make you whole again? If you have a brokerage account with legitimate stocks, there are regulations in place. There is the SIPC which protects again brokerage failure. With Bitcoin, you are completely gambling. This lack of regulation and lack of price stability means that there is no viable path to Bitcoin being a legitimate currency. Does it mean people can buy and sell it? Of course. But if you are in the cult of believing that Bitcoin is the future world reserve currency, you need to get your head examined. Gold and Silver con artists have been trying for decades for people to get on this alternative currency train. At least gold and silver have some practical industrial applications. And hundreds of years of history on its side. Crypto isn’t anything but something people agree upon as having value. Why do I point this out? Because the one thing you need to do is separate yourself from what you think you know about Crypto and Blockchain, etc. While it all sounds cool and revolutionary, it really doesn’t matter. The US government could easily create their own form of Crypto that gives them more control. The decentralized part just doesn’t jive with our current global hegemony. If you don’t understand this, you should think more and read less. Once you accept this, you can start to see all Crypto as fundamentally worth the same: virtually nothing. The technicals, however, are why we want to look at Dogecoin. Relative Valuation of Dogecoin Now that you understand a little more background into where we are, I believe Dogecoin is extremely undervalued. Why? It’s simple. Relative valuation. This is one of the easiest and most efficient ways to compare investments. Ok, so maybe this isn’t really investing anymore; it’s gambling. Still, we can apply the same concept. Imagine two companies: they are in the same industry and have similar margins, earnings, growth prospects, etc. One company is valued at $50 billion and costs $120 per share, and one is valued at $85 billion and costs $80 per share. Which one would you invest in? Of course, you would invest in the one that is worth $50 billion at $120 per share. The cost per share means absolutely nothing. It is psychological. Now, you say Dogecoin isn’t on par with Bitcoin and that where I’m going with this isn’t a fair comparison. Go back and read the last section. That’s why I wrote about the practical applications of Cryptocurrencies in general. None of that matters. The only thing that matters is the general sentiments shared by people that buy and believe in Cryptocurrency. So, let’s look at the current valuations: Bitcoin – Price $40,500, Market Cap $755B (estimated as of 2-6-21) Dogecoin – Price $.05, Market Cap $4.4B (estimated as of 2-6-21) (Source: Yahoo Finance) Now, I’m not saying Dogecoin is worth what Bitcoin is. I’m not even saying it's worth half or a third of Bitcoin. Who really knows? No one does. You certainly cannot say for certain that one is better than another. One is more “established” and has more name recognition. What I am saying is this: if Dogecoin goes to $1, it will have a market cap of just over $85 billion. Even at Bitcoin’s current market cap, that’s just over 1/10 of its value. And that isn’t even pricing in more appreciation of Bitcoin’s value over time. This means I see tons of room for Dogecoin to run. (I know some will mention dilution via minting of new coins, but that’s another discussion and not entirely relevant to the points I am trying to make in this piece.) Could Dogecoin match Bitcoin? That sounds absurd, but let’s look just for fun: if Dogecoin were to have the same market cap as Bitcoin, that means it would have a current price of $8.55. So, what am I saying here? You must know the range of possibilities (within reason, if that even exists anymore) before you start thinking about price targets. To say Dogecoin is going to $100 is just absurd; things need to be put in the proper context. Why Dogecoin? Using relative valuation, I believe you could make a case for any Crypto. Will they all run to Bitcoin’s level? Of course not. The last question is why Dogecoin? This is the most important one that we have to answer before deciding on buying Dogecoin. The answer is simple: hype and name recognition. If I look at the most valuable cryptocurrencies by market cap, Dogecoin is number 12. I have taken an informal survey of probably 100 people over the last two weeks. I showed them the top 15 Cryptocurrencies by market cap to see which they were familiar with: Stellar, Binance Coin, Cardano, Polkadot, XRP . . . almost all of these were completely unheard of. But, somehow, they have valuations of 2-3 times Dogecoin. Dogecoin has a few things going for it. First, hype. Elon Musk and many other prominent celebrities are pilling in. Mark Cuban has said he’d buy it over a lottery ticket. That alone can help aid a very quick lift off. Second, the name Dogecoin is very easy to remember and a trendy thing. What the heck is Cardano anyway? XRP? I mistakenly called it XPR before I edited this piece. And if you are still hung up on the practical use of Dogecoin or other Cryptos, you are missing the point of this piece entirely. Look at the story behind Bitcoin. An anonymous person online created a decentralized platform for money movement or something like that. What? How in the world did that idea ever take traction? It’s just like people online arguing over which Penny Stock is the next big thing. Neither person is right, but the perception is really all that matters. Third, stimulus checks will be hitting within weeks or months. This naturally promotes price inflation when people have more dollars chasing few goods. People will inevitably pile into whatever they think is the next great thing. Dogecoin has momentum right now. And this brings me to number four. Fourth, and perhaps most importantly, FOMO is very powerful right now. There are people all over the world that know people who have won big money in this bubble. Penny stocks, GameStop, Bitcoin, and many others that you can name. How many people do you personally know that have won big in the lottery? Probably none. This is a unique time in history. People have won big in this market and are looking for the next thing. Dogecoin is something that could pick up steam quickly. It could blow up overnight. It may not, and that is the risk you take. At the end of the day, it’s just money that you can always make more of. Life-changing money is worth the risk when you find the right risk-reward ratio. Do your due diligence, but also think ahead to a scenario that you could imagine. Would you be that surprised if Dogecoin reached $1? And if it did, would you be surprised if it started running towards multiple dollars? $1 is a psychological number that typically leads to a further breakout. The current market cap suggests this is all very possible. Now imagine getting in at four or five cents. Disclosure: Long Dogecoin with Diamond Hands. No positions in any other things mentioned. -BJ
Once again, the Calvary comes to the rescue. Americans can now heave a sigh of relief after months of having to watch their fate hang in the balance as both Democrats and Republicans sparred over stimulus. After foot-dragging and name-calling for several months, Congress decided to approve a $600 stimulus package. However, the incoming Biden administration has promised an additional $1,400 making the total of $2000 in stimulus to be received by Americans. As expected, some of that money would find its way into the stock market. The explosion of retail trading made possible by apps such as Robinhood and Etoro has meant that more people can trade in stocks for zero or little commission. Flush with cash from the government, people are trying to the stock market to increase their money. Based on the prevailing macro-economic conditions, financial valuation, and social trends, we have compiled a list of stocks you should be spending your $2000 stimmy on. DraftKings As more states become amiable towards online gambling, one of the stocks which would benefit from expected legislation would be DraftKings. The expanding legalization of digital sports betting is an emerging trend. The November election results showed voters in several states largely approved ballot measures that legalized sports betting and other gaming expansion measures. On the revenue side, DraftKings saw a 98% year-over-year surge to $132.8 million in the latest quarter, reported on Nov. 13. In the quarter, the company raised its full-year 2020 revenue range to $540 million-$560 million, which equates to 25%-30% annual revenue growth. DraftKings also introduced 2021 revenue guidance of $750 million to $850 million, which equates to 45% year-over-year growth using the midpoints. The resumption of major sports such as the NBA, MLB, and the NHL in the third quarter, as well as the start of the NFL season, has generated tremendous customer engagement and revenue which implies that this stock would definitely see some significant upside. Square 2020 was a very good year for Square. The company’s share price soared above 250% last year and was one of the pandemic winners in the market. Given the company’s fundamentals, Square's stock price will repeat the type of growth it saw in 2020. The services that Square provides -- particularly its Cash App, which allows people to send and receive money without physical contact -- have become more necessary during these times of social distancing and working from home. Revenue for the Cash App was up a whopping 574% year over year in the third quarter. The company is also invested in bitcoin having out in seed capital in acquiring bitcoin. With bitcoin estimated to cross the $40,000 mark and possibly running as far as $146,000, this would shore up the company’s reserves. GM One reason why investors have been wary of the EV sector is the mounting debt and huge cash burn. This has made investors question the profitability of stocks in the electric vehicle space. With more EV stocks coming through the market through SPACS, investors are already mulling the idea that this may be a bubble. However, one company that many believe to have potential in the EV space is GM. Apart from having the infrastructure necessary to build cars, the company is can leverage its brand to ensure loyalty from customers. In addition, while other EV stocks such as Tesla and NIO may be fully stretched, share prices of General Motors are cheap, plus the company is been raking in profits. In November, GM announced it plans to invest $27 billion in EV and autonomous vehicles through 2025. GM also plans to release 30 EV models globally by 2025. For comparison, Tesla currently has exactly four EV models. Earlier this week, the company signed a deal with Microsoft for its autonomous vehicles. GM continues to execute well on its Core and Future businesses and remains one of the best-positioned companies in our coverage over the long run. The stock is a good buy for the long haul. AMD As the digitalization of the world continues at an astronomic pace, microchips would continue to play a more prominent role. Already, there is a shortage of chips worldwide which means demand and prices would surge. One company poised to benefit from this growing demand is AMD. The company has managed to chip away at Intel's CPU dominance thanks to its superior product line, which is based on a smaller manufacturing node, allowing it to deliver better computing performance and reduce power consumption. The use of chips would continue to grow as more people are drawn to cryptocurrency mining, online gaming, and data center storage. AMD was one of the biggest winners in2020, and the trend is expected to continue well into this year. It is also one stock that may not be affected by the rotation into value as microchips would continue to be in demand. TSM Taiwan Semiconductor is a dedicated foundry that manufactures semiconductors for other companies. It aims to lead in both semiconductor technology and manufacturing, providing an open collaboration platform to build enduring trust with its customers. The core strategy of Taiwan Semiconductor is its flexible business model. TSM does not need to design its own chips and prove its performance against the competitors; it only has to provide the technology and base for producers looking to make the best and fastest chips suited to their products' needs. By maintaining high-quality manufacturing processes and offering a collaborative platform to its customers, Taiwan Semiconductor ensures that it caters to producers across the spectrum even as technology rapidly evolves. The company has experienced strong growth: From 2015 to 2019, net revenue increased by a solid 26.9%, while net income increased 12.7%. However, as smart technology has become ever more central to lives the company's growth has begun to heat up. In Q3 2020, the company boosted its net revenue by 21.6% year over year, while net income increased by 35.9%. ETSY Etsy provides an online e-commerce platform where creators of arts and crafts, vintage items, and other unique goods go to sell their products. Etsy has something that many high-growth companies don't -- a profitable business model. It boasts a trailing-12-month operating margin of 16%, making this unique online marketplace a buy today even at its premium valuation. It has outmaneuvered eBay (EBAY), avoided the Amazon (AMZN) crush, and dodged competition from Overstock.com (OSTK) and Wayfair (W). When it reported third-quarter results on Oct. 28, Etsy reported a 128% leap in revenue to $451 million, well above Wall Street estimates of $412.7 million. Adjusted earnings came in at 70 cents, vs. estimates of 57 cents. In addition, gross merchandise sales jumped 119% to $2.6 billion. Sunpower Interest in renewable energy sources has soared immensely and continues to rise with each passing day. Two key forces are behind this surge: Increased awareness and urgency to address climate change, and falling costs of generation using renewables. Among renewable sources, solar energy looks most promising, due to its more predictable generation pattern. Solar's share in electricity generation is expected to rise from roughly 3% currently to more than 20% by 2050. SunPower (NASDAQ: SPWR) is one stock poised to benefit from these trends. With a huge government push, California leads the way in solar adoption. Still, only 9% of homes in California have solar installations, representing a huge untapped market. In the new homes segment, SunPower has headway, having already worked with 18 of the top 20 builders in California. The company captures more than half of California's new homes market. Its low-cost model positions it well to compete on pricing. The company can leverage its vast customer base to sell its storage products. Moreover, its leading position in the commercial and California's new homes market provide SunPower an edge over others in these segments. PLUG Plug power provides hydrogen fuel cell turnkey solutions to electric mobility and stationary power markets. The company continues innovating end-to-end hydrogen fuel solutions by harnessing its unique capabilities and is the largest buyer of liquid hydrogen in North America. Though the company has not posted any profit, many hedge funds are bullish on the stock, with analysts having high recommendations. The company’s $1.5bn deal with South Korean conglomerate SK Group into American hydrogen company has certainly drawn a lot of attention, with many investors gauging the company’s profitability. Plug Power’s core business is providing fuel cell-powered forklifts for commercial customers. However, it has expanded to hydrogen production following its acquisition of two hydrogen companies. These acquisitions expand the plug’s addressable market which has already exceeded $30 billion. The resulting vertical integration of the acquisitions makes Plug Power an even stronger company as can now provide the hydrogen that powers its vehicles. This definitely allows Plug to leverage on its already existing customer base which includes some of the best companies in the country. Plug Power raised its 2024 guidance to $1.2 billion in revenue and $200 million in operating income. Shares of PLUG have risen by 111% in the last month. Tesla Returning to the green-energy theme, Tesla is one stock that has significant upside. The company is positioned to benefit from the clean energy drive of the Biden administration. Apart from that, Tesla is the leader in its sector and continues to increase its delivery numbers. Tesla is now the most valuable auto company in the world. It has recently surpassed Facebook (FB) by market capitalization. The stock has recently received upgrades from analysts and if the EV market continues to evolve, Tesla would continue to be in the pole position, which gives it significant market share and of course revenue. GrowGeneration Corp. For those looking at balance sheets and income statements, GrowGeneration Corp is one highly profitable marijuana stock to watch in 2021. The company has the largest chain of specialty hydroponic and organic garden centers in the U.S. with 36 storefront locations. In essence, the company supplies products necessary for growing cannabis and works closely with major marijuana companies in the U.S. market. Shares of Grow Generation returned a whopping 880.98% in 2020, posting the fastest-growing quarterly results in the industry. It is expected that the company would continue its momentum this year. The shares of the company have so far risen by 20% this year. Additionally, the company continued strategic acquisition and expansion plans in the quarter, giving GrowGen more growth potential for 2021. It was easily one of the best performing cannabis stocks for 2020. In essence, GRWG stock showed greater market stability than other pot stocks in the U.S. in 2020. Thanks for reading! Checkout Afroxyz's page for more.
There are some heavy hitters on GME's Board and in the C-Suite. IMHO, the company should have spoken out about what's happening regarding their stock. They should also have a plan to address changes in the marketplace re Covid19, the push for digital and cryptocurrency, etc. Positive statements from them would improve the stability of the stock. Why have they been silent throughout this entire event? Wouldn't they speak out against the disparaging remarks from various HF reps in recent weeks which have negatively impacted the value of the stock? Or, do they agree with the HFs that the stock is worthless, which would suggest that GME is behind a pump and dump which has enriched them and left us holding the bag? This is the kind of letter we need to send, en mass, to the Chairman of the Board: Kathy Vrabeck, and to the media.
George ShermanChief Executive Officer and Director George E. Sherman is the chief executive officer of GameStop. He was appointed to this role in April 2019.George is a member of GameStop’s Board of Directors, a seat he has held since April 2019.George brings to GameStop more than 25 years of senior management experience serving in a variety of retail leadership roles for several major retail brands like Advance Auto Parts, Best Buy, Target and Home Depot.Prior to joining GameStop, George served as CEO of Victra, the largest exclusive authorized retailer for Verizon Wireless products and services. Before this, he served as president and interim CEO for Advance Auto Parts where he was responsible for more than 4,000 stores, merchandising, marketing, IT, supply chain and commercial sales.George also served as president of Best Buy Services, where he led consumer services, small- and medium-business capabilities, channel partnerships and Best Buy for business. Prior to Best Buy, he ran the operations and home services divisions of Home Depot and spent 14 years with the Target Corporation in various leadership roles.He received his master’s degree from Central Michigan University and served as an officer in the United States Air Force for nearly seven years. George is an active community volunteer with veteran’s causes and currently serves on the board of directors of Building Homes for Heroes, which builds mortgage free homes catered to the unique needs of disabled veterans.
Jim BellEVP and Chief Financial Officer Jim Bell serves as Executive Vice President and Chief Financial Officer for GameStop, a role he was appointed to in June of 2019. Prior to joining GameStop, Jim served as CFO and interim CEO of Wok Holdings, Inc., the parent company of P.F. Chang’s, Pei Wei and True Food Kitchen restaurants, where he successfully designed and led the company’s overall strategic plan and omnichannel digital transformation and the successful sale of each of these brands. Previously, Jim served as EVP and CFO at RLH Corporation and President and CEO of Coldwater Creek, Inc. Earlier in his career he held senior finance roles at Harry & David Holdings, Inc. and The Gap. Jim received his MBA from the University of Maryland and a B.S. in Economics from the U.S. Naval Academy. Following graduation, Jim served as a Naval Flight Officer leading squadron and flight operations in the U.S. Navy from 1989 to 1998.
Dan ReedGeneral Counsel and Corporate Secretary Dan Reed serves as General Counsel and Corporate Secretary for GameStop. In this role, Dan oversees all company domestic and international legal matters and works closely with the executive leadership team and the Board of Directors to ensure legal compliance and success in meeting business objectives.Prior to joining GameStop in 2006, Dan worked in private practice as a business lawyer. Dan holds a J.D. degree from the University of Texas and a bachelor’s degree from Texas A&M University.
Board of Directors
Kathy VrabeckBoard Chair Kathy P. Vrabeck is Board Chair and a member of the Compensation Committee. She has served as a Director since June 2012. She is currently a senior client partner in the consumer markets division of Korn Ferry. Previously, she was a Partner at Heidrick & Struggles International, Inc. (“Heidrick & Struggles”) in their Media, Entertainment and Digital practice. Prior to joining Heidrick & Struggles in July 2011, Vrabeck was with Legendary Pictures from March 2009 to March 2011 where she served as president, Legendary Digital and was responsible for the creation, management and delivery of digital entertainment, with a focus on video games, across current and next-generation platforms. From May 2007 to November 2008, Vrabeck was with Electronic Arts, Inc. (“EA”) where she served as president, EA Casual Entertainment and led EA’s efforts in the fastest growing segments of the video game market: mobile, online, social networking and global media sales. Prior to joining EA, Vrabeck was with Activision, Inc. (“Activision”) from August 1999 to April 2006 where she served as president, Activision Publishing, overseeing Activision’s product development and global brand management and publishing operations. Earlier in her career, Vrabeck held various marketing, sales and finance positions with ConAgra, The Pillsbury Company, Quaker Oats and Eli Lilly and Company. Vrabeck currently serves on the DePauw University Board of Trustees.
George ShermanChief Executive Officer and Directo rGeorge E. Sherman is the chief executive officer of GameStop. He was appointed to this role in April 2019.George is a member of GameStop’s Board of Directors, a seat he has held since April 2019.George brings to GameStop more than 25 years of senior management experience serving in a variety of retail leadership roles for several major retail brands like Advance Auto Parts, Best Buy, Target and Home Depot.Prior to joining GameStop, George served as CEO of Victra, the largest exclusive authorized retailer for Verizon Wireless products and services. Before this, he served as president and interim CEO for Advance Auto Parts where he was responsible for more than 4,000 stores, merchandising, marketing, IT, supply chain and commercial sales.George also served as president of Best Buy Services, where he led consumer services, small- and medium-business capabilities, channel partnerships and Best Buy for business. Prior to Best Buy, he ran the operations and home services divisions of Home Depot and spent 14 years with the Target Corporation in various leadership roles.He received his master’s degree from Central Michigan University and served as an officer in the United States Air Force for nearly seven years. George is an active community volunteer with veteran’s causes and currently serves on the board of directors of Building Homes for Heroes, which builds mortgage free homes catered to the unique needs of disabled veterans.
Carrie TeffnerDirector Carrie Teffner is a director and was appointed to the board in 2018. Carrie is chair of the Audit Committee and brings 30 years of financial leadership and experience in the consumer products and retail industries. Carrie has served as Executive Vice President and Chief Financial Officer of Crocs (NASDAQ: CROX) since 2015. Before assuming her executive positions at Crocs, she served on the Crocs board of directors, which she joined in June 2015. Prior to joining Crocs, she served as Executive Vice President and Chief Financial Officer at PetSmart and, before that, at Weber-Stephen Products. Prior to those roles, she served as Senior Vice President and Chief Financial Officer of Timberland and spent 21 years in various leadership positions at Sara Lee Corporation. Carrie holds Master of Business Administration and Bachelor of Science degrees from the University of Vermont.
Raul FernandezDirector Raul is a director and was appointed to GameStop’s board in April 2019. He serves as a member of the company’s Audit Committee. Raul serves as Vice Chairman and Owner of Monumental Sports & Entertainment, a private partnership that co-owns the NBA’s Washington Wizards, the NHL’s 2018 Stanley Cup Champion Washington Capitals, the WNBA’s Washington Mystics, Team Liquid eSports and Wizards District Gaming NBA 2K, as well as co-owns and operates Capital One Arena in Washington, D.C. He also serves as Special Advisor and Limited Partner to General Atlantic Partners, a growth equity firm with more than $31 billion under management. He previously served in several leadership roles at various technology companies, including as Chairman and CEO for Object Video, a leading developer of intelligent video surveillance software. He holds a bachelor’s degree in economics from the University of Maryland and is an active philanthropist, focusing his energy primarily on education reform in the D.C. region.
Lizabeth DunnDirector Lizabeth is a director and was appointed to GameStop’s board in April 2019. She serves as a member of the company’s Nominating and Corporate Governance Committee and the Compensation Committee. Lizabeth is the Founder and CEO of Pro4ma Inc, an information technology services consulting firm that provides cloud-based data forecasting and predictive analytics tools to retailers. She also is the Founder and CEO of Talmage Advisers, a retail and branded consumer products consulting firm that provides a full range of services across brand strategy, pricing analysis, financial benchmarking and transactional due diligence. Prior to founding these firms, Lizabeth served in various consulting and financial analyst roles for leading financial firms and retail organizations, including Macquarie Group, FBR, Thomas Weisel, Prudential Equity Group, Bear Stearns, Gap Inc. and Liz Claiborne. She holds a bachelor’s degree in economics from Spelman College.
William SimonDirector Bill Simon has more than 30 years of operational and strategic advisory experience in the retail, consumer and food and beverage industries. Since 2014, he has served as a Senior Advisor at KKR & Co. Mr. Simon previously served in multiple leadership roles at Walmart Inc. from 2006 to 2015, including as President and CEO of Walmart U.S. from 2010 to 2014; EVP and COO of Walmart U.S. from 2007 to 2010; and as EVP, Professional Services and New Business Development from 2006 to 2007. Earlier in his career, Mr. Simon served as VP of Marketing, Beverages at Cadbury Schweppes plc and held leadership roles of increasing responsibility at PepsiCo, Inc., after beginning his career at RJR Nabisco. Bill holds an MBA and a Bachelor’s degree in Economics from the University of Connecticut. Mr. Simon was appointed to the board in 2020 and serves as a member of the Audit Committee and the chair of the Nominating and Corporate Governance Committee.
James SymancykDirector Mr. Symancyk brings more than 25 years of executive leadership and operational experience in the retail and consumer products industries. He has served as President and CEO of PetSmart, Inc. since 2018. Mr. Symancyk previously served as President and CEO of Academy Sports & Outdoors, Inc., a retail and ecommerce sporting goods chain, from 2015 to 2018. Prior to that, he held leadership roles of increasingly responsibility at Meijer, Inc., a regional supercenter chain store, including as President; COO; and EVP, Merchandising & Marketing. He began his career at Sam’s Club, where he served as Divisional Merchandise Manager, among other roles. Mr. Symancyk holds a Bachelor’s degree from the University of Arkansas. Mr. Symancyk was appointed to the board in 2020 and serves as the chair of the Compensation Committee.
Reginald Fils-AiméDirector Reggie brings more than 35 years of experience transforming companies, revitalizing brands and reshaping industries. From 2006 to 2019, he served as President and COO of Nintendo of America, Inc. During his tenure, Mr. Fils-Aimé focused on the development and launch of industry re-defining products, including the Nintendo DS, Wii, Nintendo 3DS and Nintendo Switch, quadrupling the company’s revenue from 2005 to 2010, and oversaw the successful implementation of the company’s digital strategy. He previously served as Nintendo of America’s EVP of Sales and Marketing from 2003 to 2006. Prior to joining Nintendo, Mr. Fils-Aimé served as SVP of Marketing for VH1 from 2001 to 2003, where he led a strategic shift to appeal to younger consumers that resulted in an increase in ratings of more than 30 percent. Earlier in his career, he held multiple marketing roles at a variety of consumer and manufacturing companies, including the Derby Cycle Corporation, Guinness Import Company, Panda Management Company, Inc., Pizza Hut, Inc. and the Procter & Gamble Company. Mr. Fils-Aimé holds a Bachelor’s degree in Applied Economics from Cornell University. Mr. Fils-Aimé was appointed to the board in 2020 and serves as a member of the Nominating and Corporate Governance Committee.
Kurt WolfDirector Mr. Wolf is the Managing Member and Chief Investment Officer of Hestia Capital Management LLC. Previously, Mr. Wolf worked in a variety of financial, investing and operating roles, at First Q Capital, LLC, and as a co-Founding Partner at Lemhi Ventures LLC. Earlier in his career, Mr. Wolf worked as a consultant both with Deloitte Consulting and The Boston Consulting Group. Mr. Wolf earned a Master of Business Administration degree from the Stanford Graduate School of Business and a Bachelor of Arts degree in Economics and Mathematics from Carleton College. Mr. Wolf joined the board in 2020 and serves as a member of the Nominating and Corporate Governance Committee.
Paul EvansDirector Mr. Evans is a Senior Managing Director at Dillon Kane Group. Additionally, Mr. Evans is a Board Director at Hill International, Inc. Prior to this, Mr. Evans served in a variety of senior executive roles at MYR Group Inc. Earlier in his career, Mr. Evans held a number of executive management positions at several energy-related businesses. Mr. Evans is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants. Mr. Evans received a B.B.A in Accounting from Stephen F. Austin State University and a Masters of International Management from Thunderbird School of Global Management. Mr. Evans joined the board in 2020 and serves as a member of the Audit Committee.
DOGE, to the MOON? Then, YOU need the RIGHT ATTITUDE.
I agree with Elon Musk. DOGE is the people's crytocurrency. That is what makes DOGE great, but that's what also makes DOGE a problem. I see a lot of you dunking on the smaller investors of DOGE. If you want DOGE to grow as a currency, then you need to stop. Crypto currency is about decentralizing the financial markets. It's about removing a governing authority. Yet, many of you are trying to position yourselves as the new governing authority. You call those who are less fortunate than you all sorts of names that can't be said in a post, but can be said in the comments (for some reason) because they aren't holding the DOGE to MAKE YOU MORE WEALTHY. Isn't that exactly what the fat cats on Wall Street are doing? They are calling you dumb money and unsophisticated investors. Sadly, many of you are doing the very same thing when given an opportunity. You're looking down on those who are excited to sell off and earn $7.00 while many of you are making $7 grand. Gross. This isn't Dark Souls the video game. This is real life for many people. The response of "git good" just doesn't apply here unless you want to take on the personas of the Wall Street Fat Cats you claim to hate. If you people with the money to spend are getting upset because the value of DOGE is fluctuating, or not seeing a bull rally to the extent that you wanted, then you are the unsophisticated investor. You should know better. Market value tends to fluctuate. Deal with it. If you got $7K in your account and you are getting upset that poor people are selling their DOGE for a $7 profit, then you are a product of your environment instead of an instigator of a financial revolution. What is the point of supporting cryptocurrency if you people are just going to be the new Wall Street fat cats who think those who aren't playing the game your way should just not play at all. Many of you are becoming the corruption you claim to hate. Stop it. Reel yourself in. I once had BlackBerry and Nokia stock, along with DOGE, about a year ago before everyone had a hardon for these assets. However, I went through a snow storm that cut power for a week. I worked from home at the time, so I had to take time off of work until I had power again. That snow melted and turned into a flood that wiped out everything I owned. I even lost my pet cockatiels whom meant everything thing to me. I took a while to get a job after Facebook canceled all of their independent contracts after the phone recording scandals. I was a transcriptionist doing transcripts for Facebook. I didn't have much more than a few pairs of clothes. It was hard to get a job because I didn't have the right clothes anymore. I had to sell off my stocksat a loss just to cover my body, cover rent, but a new phone, pay for service. It took me months to get a job until I got myself in a good position. Then, I found out in February of 2020 that I am going blind (glaucoma and macular degeneration). Just when I was starting to get my footing again, the pandemic hit. Then, the place I planned on moving to got burnt to the ground by wild fires. Blue River, Oregon essentially doesn't exist anymore. I also never got my $1,200 stimulus, nor my $600 stimulus. I also am still waiting to get three months worth of unemployment when the job I just got a year prior had to shut down due to state regulations on which businesses can be open. Now, I am at a pretty good job. I was getting ready to invest again, except that I am being charged for insurance and benefits already even though I don't get benefits and insurance for another two months. I am paying two insurance premiums right now until they refund me for the erroneous charges. I was going to use that money to buy contact lenses. Try having glaucoma and then wear glasses with a face mask. It just doesn't work. Despite my place in society a year ago, many of you would hate me now because I sold $27 worth of DOGE why you Reddit Fat Cats sit on your $7K. Screw you. Don't be awful. Don't be the corruption you claim to hate. If I need to sell all my DOGE so that I can afford to take my clothes to the laundromat for another week, then so be it. I get to decide what to do with my money. Not you. I don't get food stamps or subsidized housing from you. You don't get to tell me or anyone else what to do. If you want a DOGE revolution, then be the revolution. Don't be the corruption. If you have the luxury to hold the DOGE, then you have the financial stability to deal with it and let the little guys do what needs to be done to take care of themselves. It seems like many of you are getting upset because you aren't getting richer sooner than later, that is so Wall Street Hack of you. TO THE LITTLE PEOPLE: I am sure DOGE will go to the moon, but that responsibility doesn't rest on your back solely. It has to be a community effort. If you need to sell your DOGE to make it another week in your meager lives, do it. I'm there with you and I am committed to getting out from this hole I am in, just like the rest of you. Don't let any of these Reddit Street Fat Cats tell you how to spend your money. It's called FUD. Fear. Uncertainty. Doubt. These people will try to make you question your choices for their own personal benefit. Don't let that happen. Take care of you. It doesn't matter if you buy DOGE this week or sell DOGE this week. Your participation alone will contribute to the strength of the DOGE. Even if everyone sat on their DOGE investments, new DOGE is "minted" (not proper term, cannot recall the proper term for the life of me - but the same sentiments applies) all the time. The value of DOGE will go down even if everyone sits on their DOGE but don't bring new participants to the currency. Your participation is more valuable than many of these people will let on. It will take time for DOGE to hit a $1. It's not going to happen if these people insist on being nasty to people like you, and thus discourage your participation. If these guys are so well off, they can go buy a $30K Bitcoin then. The fact that DOGE is only a few cents is what makes DOGE the cryptocurrency for the people, as Elon Musk said. It's a great way to experiment with crypto and get your feet wet without experiencing significant loss. Buy DOGE. Sell DOGE. Do what you want. It's people like you who create an economy, not the people who hold onto their wealth. Holding onto wealthy only benefits the person holding the wealth. They don't even get taxed the same as someone who makes short term sells. IRS will punish you for being in a desperate situation. Maybe, someday, you will be in a better position to accumulate wealth instead of making gambles to get there. DOGE is a great way to practice money skills. Have fun. Experiment. Learn. Ignore anyone who tries to dictate your life. Seek meaningful advice, but avoid those who are trying to put thoughts in your head as a collective swindle. That's how Wall Street works. A lot of people are following bad examples. Be better than that. Maybe in a few years, it won't be Reddit versus Robinhood. Maybe, it will be YOU versus Reddit. Stick it to the man. Do it for the people. Do it for yourself. Don't do it for their ego. Please be advised that I am not a financial advisor nor tax consultant, and any claim I have said here should be verified by a qualified third party, as a legal disclaimer.
TLDR: Price expectations of $0.01-$0.20 in the next 1-3 years will depend on how popular DOGE remains, and online use cases. But right now this chart screams Bubble! Preface: I am a CPA but also have an IQ of 69 and are what some refer to as ‘legally retarded’. This is just my own personal opinion and does not constitute financial advice. Never gamble more than you can afford to lose. So I’m looking at Dogecoin prospects closely and it’s difficult to predict it’s true present or future value but these are the factors I have considered: Market cap: how much all Dogecoins are worth (note: these were values at the time of writing and are still fluctuating massively). Right now it’s $5b making it a top 20 crypto-coin today. But they all get compared to the #1 coin, Bitcoin, which is currently worth $625b. Next is Ethereum at $150b, followed by $28b for Tether. Big differences. For Dogecoin to be top 5, it would need to hit $15b market cap and my best case expectation is $20b in the medium-long term (1-3 years). The $1 Dogecoin meme is highly unlikely as it would require toppling Ethereum. Not impossible, just unlikely, as Ethereum has been been designed for other use cases outside of finance and is already better established in the market. Tether is popular because it’ll store USD safely. Below Tether, the crypto field gets crowded which is why DOGE needs social media hyyype to grow it to position 4 or 5. Supply: new DOGE are being added every year, whereas Bitcoins aren’t. Limited supply = higher price, which is why Bitcoin is considered a ‘store of value’, akin to gold. Since almost every crypto-coin is pegged against Bitcoin, that further solidifies its top position. Sorry to say Dogecoin can never be top dog. Dogecoins are, however, intended to be closer to a regular (central bank issued, or fiat) currency. Continual new supply will put downward pressure on prices. While better for a stable currency price since it counteracts inflation, it’s less ideal for a speculative investment. Look at Bitcoin Cash, it’s another fast, low fee, stable value. Overall it’s devalued since launch, but still has the potential for 2-4x gains if traded low to high. There’s also the threat of large scale mining operations flooding the market with DOGE while the coin base is still in it’s establishment phase. Hype: Cryptocurrency, and especially Doge, is popular right now driving up short term prices. Early investors (pre-2021) have already made the most on a fast 800% growth, which to me indicates a bubble. Having spent some time comparing this price spike to every other top 10 coin, it’ll likely settle back to a price of $0.01 after the hype dies. But Reddit is pretty good at running a strong hype train, so it’s possible the rocket stays firmly on trajectory for a moon landing. Will DOGE still be popular in 1 month, or 1 year? Sure, but will that make it valuable? Not necessarily. Bitcoin and alt-coins are popular too but are just as subject to wild swings in value. DOGE is ideal for tipping people small amounts online (much funner to send someone a DOGE than it is a BitCoin Cash), as well as through merchant transactions since it’s faster than most other coins. And that brings us to Dogecoin’s major edge: marketing. It’s heckin logo being a much cute, very wow Shibe Inu 🐕 Social media engagement, memes, celebs amplifying the memes, and constant online presence would need to continue for it to remain popular and not just ‘the 2021 trading frenzy meme coin’. Conclusion: I feel Dogecoin is a SELL because it’s in a bubble right now. For long term HODL I’ll wait until the bubble bursts so I can scoop them up 0.01. But I will hedge my own recommendation by buying 25,000 if the price drops under $0.03. If that’s contradictory to you, I’ll refer you back to my smooth brain IQ. Highest expectation of a $0.20 price is provided DOGE solidifies itself as a popular and stable Top 10 alt-coin. Major risks to that assessment are price volatilities related to potential overhype, unlimited supply, Dogecoin failing to find common online usage, and to an extent future merchant adoption. These factors combined would potentially see the currency wind all the back to $0.003.
For the record, I agree that butts/crypto are about 85%+ hot air speculation, but I do think there is some real objective "value" (if you can call it that) given to crypto, since it's clearly used as a tool of "regulatory arbitrage". This is a polite way of saying that crypto is only really useful as crimebux (i.e. scamming, evading capital controls, money-laundering, ransomware, gambling, the purchase of dark-market illicit goods etc...) . Now, obviously, criminals have a significant incentive to obfuscate their transactions as much as possible, so the extent to which crypto is used as part of various illicit networks in order to smuggle value is likely much greater than what any "on-chain" official record would show. For example, the long-time anti-butter twitter user Trolly has hypothesized that Tether is being used by wealthy individuals in China to dodge capital controls imposed by the Chinese government. There has also been acknowledgement from official sources that this is likely occurring. I think when you step-back and consider the crypto market as a whole, it's pretty clear what "objective" value it really provides as such. Relative to major mainstream markets, crypto is extremely unregulated (and what official regulation does exist is fairly ineffective and easy to circumvent). Therefore, due to this extreme lack of regulation, it is possible to engage in black/grey market activity in the crypto-sphere that it is simply impossible--or at the very least much more difficult--to carry out in any kind of broadly legitimate, regulated market. It is, of course, difficult to know in crypto where the greater fool (but not yet illegal) speculation/market-manipulation ends and the crime/money-laundering/tax-evasion begins, and that's kind of the point. When butters say that crypto is "decentralized" what they really mean is that various governments have difficulty regulating it due to its international, constantly-changing, and multi-faceted nature. "Decentralization" in this context has nothing to do with the distribution and concentration of hashing power, governance, or token supply. Rather, what is really "decentralized" is the interlocking web of shady actors (Tether, the exchanges, individual whales, social-media shills, and the masses of effectively anonymous traders etc...) which all contribute in some way to the crypto-space, yet responsibility for the criminal activity enabled by this so-called "market" is sufficiently decentralized such that it is difficult to hold any of the major players legally accountable. Of course, none of this is to say that regulating crypto is literally impossible. Governments will probably get around to it eventually in a serious way, and are already starting to do so. However, it will likely take some time, as the law moves slowly in such cases, and legal-authorities/governments always have greater concerns they must attend to. Also, crypto-firms obviously shop around for legal jurisdiction, and rival states (Russia/China/Iran/North Korea etc...) might very well be trying to weaponize crypto as a revenue stream of hard currency, as well as a tool for dodging sanctions. Ultimately, I don't think it matters all that much how many tethers/butts there are in circulation at any given time, or what the "market cap" supposedly is. That's all window dressing--essentially arbitrary numbers on a screen, which can easily be changed by the various cartels, whales, and power-brokers behind the scenes to produce the desired result. The real use-case behind crypto is that the crypto-sphere is a *uniquely* deregulated digital "market" that can be utilized for all manner of crime and shady activity. Which is to say, it's basically a massive digital version of Walter White's car wash from Breaking Bad.
Hello all, I am here with my plan for my subreddit Reddit Nation If you are interested in joining a (hopefully) newly formed island nation then this is the place to be. I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request. Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan. Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
Acquire the island
Set up the initial infrastructure
Form of Government that I propose is a constitutional monarchy
Country will be run as a democracy (two chamber form of parliament)
Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
Establishment of the Government Building
For now this is where the government will convene until more infrastructure is added and the island is improved.
People will be made citizens at this location
Establishment of Civil Services
Waste collection, Police, Social Services
Establishment of a Port
This will allow supplies to enter the island.
This will allow for the island to participate with the rest of the world economically(I will expand on this later).
The port will function as the entrance point and exit until the runway can be constructed.
Establishment of Resident Housing
This temporary housing will be until the island can be developed and more permanent buildings can be put up.
Resident Housing and the Government building will be set up near the port until island development is completed
Set up a massive solar powered crypto mining operation to help finance further development of the island
A partnership with big mining companies can be brokered to have this set up
Make the Island a desirable location
Set up the island as a luxury city
Free housing for citizens
Free healthcare for citizens
Free schooling and university for citizens
Build resorts and legalize gambling on the island
The revenue generated from such activities will help finance further development of the island
With the revenue generated from this, the island will be able to provide for the residents a luxury city
The gambling industry investments will help to finance the island as well
Make the island a banking haven
Set up a bank on the island
No KYC laws will be enforced on the island
This will attract forgien investment into the island
Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
No income tax,sales tax, capital gains tax or corporate on the island
Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
This will help attract a lot more forgien investment as well
Will attract companies to set up offices here and thus bring jobs to the island.
Expand on the island infrastructure
Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
Build more free luxury housing for residents
Establish schools and universities
Establish libraries
Establish Museums
Establish a healthcare system
Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding According to my calculations (you can look at them below) it will cost us $2,600,000
The Island itself
500,000
The Port
200,000 to build
This will benefit us later when we receive forgien investments
500,000 for 250 passenger ferry
We will budget around 100,000 for operating costs
Initial Buildings
1,000,000
These buildings will be permanently built but occupied until the island is built and then will be sold off to recoup the investment.
Buildings include
Civil Services
Around 50,000 to purchase initial equipment and medical supplies
Another 100,000 to purchase ATVs
Another 100,000 to purchase off roading vehicles
Bitcoin mining operation
We will get the money for the operation by partnering with a large company
Water Purification
50,000
Food Supply
We will purchase MRE’s and other preserved food products for the island
An exact count of this cannot be made until we move further into the plan
Further development of the island
This will be financed by the forgien investments in regards to banking, gambling and tourism along with money raised from property taxes
Now in regards to how we will raise that sum
We will sell off noble titles (this is why we will set up a constitutional monarchy)
While no price has been established yet, the titles for sale can include
Duke, Duchess.
Marquess, Marchioness.
Earl, Countess.
Viscount, Viscountess.
Baron, Baroness.
A small percentage of the island (less than 25%) will be earmarked for sale immediately. The part earmarked for sale will be part of the planned downtown district/capital and developers of this land will be allowed to build whatever structures they want and won't have the problem of jumping through hoops like zoning laws.
On a 60 acre island, 15 acres would be marked for sale
The acres on this haven of an island will be sold for 250,000 each so the island would raise 4.5 million and the sale of said acres will help kickstart the massive infrastructure of the island and provide the island with adequate funding.
Once the island is set up, the island will continue to profit from digital activities which will allow it to not have to charge an income tax or corporate tax
Digital activities include the solar powered bitcoin mining operation
We will partner with an existing bitcoin company for this
Solar powered web hosting
People can become citizens for a fee of $10 which will mainly go to the printing of their ID and filing in the government archives but the island will profit a few dollars off of this
If you have made it this far, please join the subreddit for this plan More information to come soon, thank you.
11/10 Weekly Watchlist. ONCE AGAIN it has been on the FREE telegram
1/10 WEEKLY WATCHLIST [P.S. Only enter positions you feel the most comfortable with. Your money is your soldier only send him into battle when you think he'll win. Some of these I have taken positions. Some I am looking to take positions. I post my positions fairly regularly] $SPY Predictions: M: ~ T: - or ~ W: + Th: - F: - [~ sideways] 🔑KEY🔑 [💎-Long time gold][⁉️-Could go both ways][🚀-I think this is gonna shoot up][🔥-This is picking up momentum/Has reason to pick up][⚠️-Already ran a bit be careful][👀-Watching this one closely][⭐- Huge Catalyst or info] 🔎BIG FOCUS🔍 🧨Telegram Special at the bottom🧨 🔍$SOS $WATT $GNUS $HCHC $TANH $APXT $ACAM $PSTH 🔎 ⬆️Higher Priority ⬇️Lower Priority 🚀💸PENNYS💸🚀 $WATT - Super undervalued in my eyes. 4hr MACD:Neutral Daily MACD:🐮 4hr RSI:60 Daily RSI:60 Support: $2/$2.25/$2.40 Resistance:$2.55>?? 🔥🚀👀💎 $SOS - ⭐$1.85 Offering. Launching the first cryptocurrency bank in the world. Should steadily come back up to $3. 4hr MACD: 🐻Daily MACD: Neutral 4hr RSI:49 Daily RSI: 50 Support: $1.78 Gap Up to: $2.80🔥🚀👀💎 $GNUS - Im bullish here. Daily/4hr chart has a Cup & Handle. 4hr MACD:🐮 Daily MACD: Breaching🐮 4hr RSI:56 Daily RSI:46 Support: $1.30/$1.35 Resistance:$1.65/$1.75/$2🔥🚀👀💎 $ENG - Clean energy play. Imo becoming the next $FCEL. 4hr MACD: Neutral Daily MACD:🐮 4hr RSI:64 Daily RSI:76⚠️ Support: $2.80/$4 Resistance: $5.35⚠️🔥🚀👀 $TANH - Still severely undervalued in the EV sector. Still has gapped up from the last offering. 4hr MACD:🐮 Daily MACD: 🐮4hr RSI:50 Daily RSI:46 Support: $1.40/$1.49 Resistance: $1.62/$1.72. Gap Up to:$2.17/$2.75/ $3.05🔥🚀👀 $POWW - ⭐Opening a new manufacturing location which will increase productivity by 3x! Ammo shortage. 4hr MACD:🐻Daily MACD: 🐮 ⚠️Daily GRAVESTONE DOJI⚠️4hr RSI: 55 Daily RSI: 66 Support: $3.25/ $3.40/$3.80 Resistance: $4.15/ $4.31/$4.47🔥🚀👀💎 $HCHC - ⭐CEO bought 2.6m shares! Ties to $BLNK. 4hr MACD: 🐮Daily MACD: Turning🐮 4hr RSI: 58 Daily RSI: 53 Support: $2.25/$3.05 Resistance:$3.45/$3.81/$4.03🔥🚀👀 $GRIL - "They hate me at $1.80 but will chase me at $3."⭐ Market hasnt reacted quite yet. 4hr MACD:🐮Daily MACD: Turning 🐮 4hr RSI:53 Daily RSI: 45 Support:$1.77/$1.83 Resistance:$2.12/$2.28/ $2.58 /$2.90🔥🚀👀💎 💰Honorable Mentions💰 $RIOT/$MARA/$JFU/$EBON/$PYPL/ $SQ - ONLY while bitcoin is going up! $MITO - NDA Filing and conference Jan 11th. Has a nice gap up to $5 ish. Be on the lookout here $AYRO - ⭐Doordash and Uber is exploring purchasing vehicles. AYRO CEO said they are exploring both opportunities and are in talks!🔥🚀 💰Non-Pennys💰 $APXT - ⭐[SPAC]CONFIRMED February for merger! Microsoft cloud Avepoint going public through this SPAC! Support: $12.75/$13.75 Resistance: $17🔥🚀👀💎 $PLUG - ⭐Huge Partbership announcement. $100 EoY? 4hr MACD:🐮 Daily MACD: 4hr RSI:75 ⚠️Daily RSI:84⚠️ Support:$40/$49 Resistsnce: $56⚠️⚠️🔥🚀👀💎 $FUBO - Shorts took this down with false rumors and BS. 4hr MACD: Neutral Daily MACD: 🐻 4hr RSI:41 Daily RSI: 45 Support: $24.50/$26 Resistance : $30/$32.50 Gap Up to: $37.50/$39 /$41/$43.50🔥🚀🚀👀💎 $PSTH - ⭐[SPAC]Biggest SPAC in history of the SPAC's. Bill Ackerman is the king of kings. SpaceX? Starlink? Who could it be. Careful 50% above NAV🔥🚀👀💎 $ACAM - ⭐[SPAC] CarLotz approved to go public through this SPAC. Still fairly cheap honestly. This should be a nice gainer.🔥🚀 $NNDM - ⭐4hr Cup & Handle?or Double Bottom.🐮3D printing nothing quite like this out there. THE Cathie Wood is loading up this bad boy. 4hr MACD: Neutral Daily MACD: Neutral 4hr RSI:55 Daily RSI:61 Support: $6.60/$7.50/$8 Resistance: $9.50/$10🔥🚀👀💎 $ENPH - ⭐Clean Energy joins the SP500 knocking out $TIF. 4hr MACD:🐻Daily MACD: 🐮4hr RSI:57 Daily RSI: 75⚠️ Support: $175/$198 Resistance: $211/$220⚠️🔥🚀🚀👀💎 $EXPC - ⭐[SPAC]Blade Urban Air. The Uber of the sky going public here. This is a long term swing. I easily expect $25-$30🔥👀💎 $FLUX - ⭐Clean Lithium Energy 4hr MACD: 🐻Daily MACD: 🐮4hr RSI:57 Daily RSI:67⚠️Support: $12.50/$15.50 Resistance: $19.50/$20.50⚠️🔥🚀👀💎$YSG - 4hr MACD:🐮 Daily MACD:🐮 4hr RSI: 62 Daily RSI:66⚠️ Support:$15.50 Resistance:$18.30 Gap Up to: $21🔥🚀👀💎 $CRSR - 4hr MACD:🐮Daily MACD: Turning🐮 4hr RSI:62 Daily RSI:55 Support: $33.50/$35 Resistance: $39.50/$40.50/$41.50 Gap Up to:$44/$45🔥🚀👀💎 $SRAC - ⭐[SPAC]Momentues merger. Space mining. This is a 2025-2035 hold gold mine. Patience PAYS on this one.💎 $VMAR - ⭐[SPAC] EV Boats & Hoes! Not a single competitor in the EV boat industry. This is a goldmine 🔥🚀 $LGVW - ⭐[SPAC]Bill Gates & Cathie Wood ARK Money backing this one. They make portable ultra sound machines. Support: $16.75/$18.50 Resistance:$22⚠️ 💎 $DKNG -⭐NY Gambling laws looking to change. Only a matter of time until online gambling is globally legal.4hr MACD:🐮 Daily MACD:BREACHING🐮4hr RSI:66⚠️Daily RSI:56 Support: $43 Resistance:$53/$54.50/$56🔥🚀👀💎 $VVOS - New IPO. Insider Buys. Honestly don't know what to expect from this. 4hr MACD:🐻Daily MACD: BREACHING🐮 4hr RSI:43 Support: $5.90? Resistance: ?? Does have a gap up to fill back up to $10⁉️⁉️🔥🚀 🧨Telegram special boys!🧨 PRIVATE 🎆JANURARY EARNINGS🎆 $DAL - 12th PM [Calls?] $WWE - 14th PM [Condors?] $C - 15th PM [Condors] $JPM - 15th PM [Condors] $WFC - 15th PM [Condors] $PNC - 15th PM [Condors] $UAL - 19th [Calls] $PETS - 19th [Puts] $NFLX - 19th [Calls?] $BAC - 19th PM [Condors] $KMI - 20th [Puts?] $TXN - 20th [Calls] $ABR - 20th PM [Condors/Calls] $FCEL - 20th PM⭐[Straddle/Calls] $AAL - 21st PM [Calls?] $JBLU - 21st PM [Calls?] $PG - 21st PM [Condors] $INTC - 21st AH [Calls?] $NEE - 22nd PM[Calls] ⚖UPCOMING FDA INFO⚖ $AUPH - Jan 22nd $GTHX - Feb 15th $CRMD - Feb 28th⭐ $ATNX - Feb 28th $KMPH - March 2nd⭐ $AQST - March 2nd⭐ $ORPH - March 17th $CYTR - March 17th⭐ 🙏 I would like to just thank all the supporters once again. Between your constant generosity and the overall communities kind words none of this would be possible. If you decide to donate please shoot me a PM so I can thank you! I dont care if its $1 or $1000 I'd still like to give you a thanks!🙏 ❤🖤💙💚🤎💛🧡💜🤍 My Links: ⭐Cashapp: $Hamstackz⭐ ⭐Venmo: $JDH3703 ⭐ ⭐Paypal: http://paypal.me/PhillyDiamondhands ⭐ Again! Thank you all for being apart of this great journey!
TLDR: Price expectations of $0.01-$0.20 in the next 1-3 years will depend on how popular DOGE remains, and online use cases. But right now this chart screams Bubble! Preface: I am a CPA but also have an IQ of 69 and are what some refer to as ‘legally retarded’. This is just my own personal opinion and does not constitute financial advice. Never gamble more than you can afford to lose. So I’m looking at Dogecoin prospects closely and it’s difficult to predict it’s true present or future value but these are the factors I have considered: Market cap: how much all Dogecoins are worth (note: these were values at the time of writing and are still fluctuating massively). Right now it’s $5b making it a top 20 crypto-coin today. But they all get compared to the #1 coin, Bitcoin, which is currently worth $625b. Next is Ethereum at $150b, followed by $28b for Tether. Big differences. For Dogecoin to be top 5, it would need to hit $15b market cap and my best case expectation is $20b in the medium-long term (1-3 years). The $1 Dogecoin meme is highly unlikely as it would require toppling Ethereum. Not impossible, just unlikely, as Ethereum has been been designed for other use cases outside of finance and is already better established in the market. Tether is popular because it’ll store USD safely. Below Tether, the crypto field gets crowded which is why DOGE needs social media hyyype to grow it to position 4 or 5. Supply: new DOGE are being added every year, whereas Bitcoins aren’t. Limited supply = higher price, which is why Bitcoin is considered a ‘store of value’, akin to gold. Since almost every crypto-coin is pegged against Bitcoin, that further solidifies its top position. Sorry to say Dogecoin can never be top dog. Dogecoins are, however, intended to be closer to a regular (central bank issued, or fiat) currency. Continual new supply will put downward pressure on prices. While better for a stable currency price since it counteracts inflation, it’s less ideal for a speculative investment. Look at Bitcoin Cash, it’s another fast, low fee, stable value. Overall it’s devalued since launch, but still has the potential for 2-4x gains if traded low to high. There’s also the threat of large scale mining operations flooding the market with DOGE while the coin base is still in it’s establishment phase. Hype: Cryptocurrency, and especially Doge, is popular right now driving up short term prices. Early investors (pre-2021) have already made the most on a fast 800% growth, which to me indicates a bubble. Having spent some time comparing this price spike to every other top 10 coin, it’ll likely settle back to a price of $0.01 after the hype dies. But Reddit is pretty good at running a strong hype train, so it’s possible the rocket stays firmly on trajectory for a moon landing. Will DOGE still be popular in 1 month, or 1 year? Sure, but will that make it valuable? Not necessarily. Bitcoin and alt-coins are popular too but are just as subject to wild swings in value. DOGE is ideal for tipping people small amounts online (much funner to send someone a DOGE than it is a BitCoin Cash), as well as through merchant transactions since it’s faster than most other coins. And that brings us to Dogecoin’s major edge: marketing. It’s heckin logo being a much cute, very wow Shibe Inu 🐕 Social media engagement, memes, celebs amplifying the memes, and constant online presence would need to continue for it to remain popular and not just ‘the 2021 trading frenzy meme coin’. Conclusion: I feel Dogecoin is a SELL because it’s in a bubble right now. For long term HODL I’ll wait until the bubble bursts so I can scoop them up 0.01. But I will hedge my own recommendation by buying 25,000 if the price drops under $0.03. If that’s contradictory to you, I’ll refer you back to my smooth brain IQ. Highest expectation of a $0.20 price is provided DOGE solidifies itself as a popular and stable Top 10 alt-coin. Major risks to that assessment are price volatilities related to potential overhype, unlimited supply, Dogecoin failing to find common online usage, and to an extent future merchant adoption. These factors combined would potentially see the currency wind all the back to $0.003.
I'm very scared of what's about to come on January 15, but I also would like to remain calm and think of possible outcomes here. So I came up with a few scenarios on what might happen:
Scenario 1:
Tether goes down and the exchanges are unaware that anything bad will happen. Okay, his is highly unlikely. Knowing exchanges like Coinbase or Binance, they have relationships with every single company that gets their coin listed on their site. They know about this Tether case more than you and I. I highly doubt they are asleep at the wheel. They keep track of every bit of news regarding Tether and Crypto in general because they have a vested interest to keep making money from trading and transaction fees and also because well... that's kind of part of their job. So I think we can all agree that the big exchanges know what's going on.
Scenario 2:
Tether goes down and the exchanges are fully aware of what will happen to Tether and are preparing for an exit scam. This is debatable and much more open to discussion than scenario 1 (although all scenarios are open to discussion). Personally, I don't think exchanges like Coinbase, Kraken, Binance or Gemini are going to exit scam. Here are my reasons: a) Coinbase already filed for an IPO. Which means they are dealing with the SEC now, and are planning to keep their platform alive. Why would Brian Armstrong bother with an IPO and legal ties with the government if he is going to exit scam and screw over his source of profit that led him to IPO to begin with? b) All exchanges make hefty profits on the daily. Coinbase for example makes $2.7 million per day just from fees. Binance makes a similar number in fees as well. What would they gain from an exit scam? They already make a billion dollar a year, wouldn't it be in their interest to keep their platform alive and keep raking in billions on a yearly basis? c) Some exchanges like Kraken have a banking license under the federal government. So it's extremely unlikely they will exit scam. d) Aside from obvious legal reasons, most of the big exchanges existed for a long time and are trust-worthy, and never exit-scammed during any of the major crashes and downfalls in Crypto. But maybe this time is different? That's up for discussion.
Scenario 3:
Tether goes down and the exchanges are fully aware of what will happen to Tether and are preparing to replace it. This to me seems more of a likely scenario. Binance, for instance, made BUSD their default stable currency. Other currencies like USDC we are seeing more and more printing (although unlike Tether). It seems more likely that exchanges are bracing for impact rather than leaving. Maybe they are prepared for a market crash, and are confident that they can replace Tether with their own stable currency going long term, and they don't worry about Tether collapsing.
Scenario 4:
Tether goes down, crashing the entire market, thereby taking down the exchanges as a result. This is a possibility. It could very likely be that Tether is the entire backbone in Crypto and Tether collapsing will destroy Crypto entirely to the point of no return. After this, all coins including BTC will go to zero and never come back. I'm biased against this one, but also don't mind the outcome since I have accepted that Cryptocurrencies are a gamble since the day I bought.
Scenario 5:
Tether comes up with the required legal documents, and nothing happens. This one is highly unlikely, given Tether has been struggling to comply. What are you thoughts overall? Any other scenarios to think of?
1/24 Weekly Watchlist forgot to post it here. Been on the FREE Telegram
1/24 WEEKLY WATCHLIST [P.S. Only enter positions you feel the most comfortable with. Your money is your soldier only send him into battle when you think he'll win. Some of these I have taken positions. Some I am looking to take positions. I post my positions fairly regularly] $SPY Predictions: M: + T: + W: - or ~ Th: - F: - [~ sideways] 🔑KEY🔑 [💎-Long time gold][⁉️-Could go both ways][🚀-I think this is gonna shoot up][🔥-This is picking up momentum/Has reason to pick up][⚠️-Already ran a bit be careful][👀-Watching this one closely][⭐- Huge Catalyst or info] 🔎BIG FOCUS🔍 🧨Telegram Special at the bottom🧨 🔍$IDEX $PLTR $CLSK $SOS $WATT $LOTZ $APXT $CLOV $TELL🔎 ⬆️Higher Priority ⬇️Lower Priority 🚀💸PENNYS💸🚀 $WATT - Super undervalued in my eyes. Daily/4hr MACD: 🐮 Daily/4hr RSI: OVERBOUGHT⚠️ Support:$2.25/$2.40 /$2.80 Resistance: $3.5🔥🚀👀💎 $SOS - ⭐Intends to launch a cryptoCurrency banking system! Alot of good news this weekend.⭐4hr HAMMER DOJI ⭐Daily MACD:🐻 4hr MACD: 🐮 Support: $1.78/ $2.10 Resistance:$2.60/$3.17🔥🚀👀💎 $TELL - ⭐Given a $5 PT. Truthfully this ticker has ran a bit already but I dont think it's nearly finished. Daily/4hr MACD: 🐮 ⭐4hr HAMMER DOJI⭐Daily/4hr RSI: OVERBOUGHT Support:$1.50/$2.20 /$2.50 Resistance: ?? 🔥🚀👀 $GRIL - "They hate me at $2 but they'll chase me at $3"⭐Daily/4hr GOLDEN CROSS COMING⭐Bull Flag forming. Nano Sized float. Daily/4hr MACD: 🐮 Daily/4hr RSI: Approaching Overbought Support:$1.77/$1.83 Resistance:$2.28/ $2.58 /$2.90🔥🚀👀💎 $GNUS - Im bullish here. Daily/4hr chart has a Cup & Handle. Daily/4hr MACD: 🐮 4hr RSI: OVERBOUGHT⚠️ Support: $1.30/ $1.35 Resistance:$1.65/$1.75/$2🔥🚀👀💎 $GSAT - Cathie Wood Space ETF could very likely pick this up. Daily/4hr MACD:🐮 Daily RSI: OVERBOUGHT ⚠️ Support: $0.50/$0.82 Resistance: ??⚠️🔥🚀👀💎 $VIVE - ⭐$3.40 offering! Super beat down. Nearing 52wk LOW. 4hr MACD: 🐮 This has a nice wave back up to $4 Daily RSI: MASSIVELY OVERSOLD⭐4hr HAMMER DOJI⭐ Support/Resistance: ??🔥🚀 $TANH - Oblong C&H. Still severely undervalued in the EV sector. Still has gapped up from the last offering. Support: $1.40/$1.49 /$1.80 Gap Up to:$2.17/$2.75/ $3.05🔥🚀👀 $HCHC - ⭐CEO bought 2.6m shares! Ties to $BLNK. Possible decending triangle. If it hits $3.25 I'd cut this like a bad ex-gf.Daily/4hr MACD: 🐮 Daily RSI: Approaching Overbought Support: $2.25/$3.05 Resistance:$3.81/$4.03🔥🚀👀 💰Honorable Mentions💰 $IDEX - I Suprising think this could push up to the $4 range here. I wouldn't be going long here though. I'd treat this like a bad ex gf and get out asap. $RIOT/$MARA/$JFU/$EBON/$PYPL/ $SQ - I'd be watching bitcoin for a potential bounce and run up here! $AMC - Already squeezed quite a bit. Just would keep this on the corner of your eyes for a watch. $AYRO - ⭐Doordash and Uber is exploring purchasing vehicles. AYRO CEO said they are exploring both opportunities and are in talks!🔥🚀 💰Non-Pennys💰 $PLTR - ⭐Jan 26th Demo. Daily/4hr MACD: 🐮 Daily/4hr RSI: OVERBOUGHT ⚠️ Support: $26/ $30 Resistance: ??52wk high ⚠️🔥🚀👀 $CLSK - Looks like the reversal has started. 4hr MACD: 🐮 Support: $25 Resistance: $31.50/$37🔥🚀👀💎 $PPIH - ⭐Awarded a 7.5m contract with India AH. 51m market cap company. This is a no brainer.Contract worth 15% of MARKET CAP?!Being slept on!UNGODLY LOW VOLUME! MASSIVE Gap to $8/$8.75/$10 too fill🔥🚀👀 $APXT - ⭐[SPAC]CONFIRMED February for merger! Microsoft cloud Avepoint going public through this SPAC! 4hr RSI: Approaching Oversold Support: $12.75/$13.75/$14.50 Next Target $17.61/$18.12🔥🚀👀💎 $CLOV - ⭐Walgreens working with them. Lots of Bullish news coming out.4hr MACD: 🐮 Support: $12/$13 Resistance: $15.50/ $16.50🔥🚀👀 $GDRX - 4hr MACD: 🐮 Support: $37/ $40/$41 Resistance: $45/$47/$50/ $52🔥🚀👀💎 $SRAC - ⭐[SPAC]Momentues merger. Space mining. ⭐ARK SPACE ETF PICK UP! This is a 2025-2035 hold gold mine. Patience PAYS on this one.🔥🚀💎 $WOOF - Petco just IPO. $26 looks to be the baseline support. I like this as a short/medium term swing.⁉️$PSTH - ⭐[SPAC]Biggest SPAC in history of the SPAC's. Bill Ackerman is the king of kings. SpaceX? Starlink? Who could it be. Careful 50% above NAV🔥🚀👀💎 $LOTZ - ⭐CarLotz approved to go public through this SPAC. Still fairly cheap honestly. This should be a nice gainer.🔥🚀 $NNDM -Babe Cathie Wood ARK been loading this heavy. 3D printing nothing quite like this out there. Personally would wait for a PULLBACK! Daily/4hr MACD: 🐮Daily/4hr RSI: OVERBOUGHT ⚠️ Support:$8/$9/$10.75 Resistance:??⚠️🔥🚀👀💎 $CCIV - ⭐Almost certainly confirmed Lucid Motors merger. This could push up for North of $30 Support: $17🔥🚀🚀👀💎 $FLUX - Clean Lithium Energy Daily MACD: 🐻 Support: $15.50/$17.30 Resistance: $20🔥🚀👀💎 $CRSR -⭐Earnings Feb 10th Daily/4hr MACD: 🐮 Support: $35 Resistance:$39/ $40.50 Gap Up to:$44/$45🔥🚀👀💎 $PRPH - ⭐$12.50 Offering play here. Not much more for me here other than that. $VMAR - ⭐[SPAC] EV Boats & Hoes! Not a single competitor in the EV boat industry. This is a goldmine. Resistance: $16🔥🚀 $LGVW - ⭐[SPAC]Bill Gates & Cathie Wood ARK Money backing this one. They make portable ultra sound machines. Support: $16.75/$18.50/ $19.50 Resistance:$22⚠️ 💎 $DKNG -⭐NY Gambling laws looking to change. Only a matter of time until online gambling is globally legal. Support: $48/$52 Resistance:$55.25/$56🔥🚀👀💎 $VVOS - New IPO. Insider Buys. Honestly don't know what to expect from this. Daily MACD:🐮 4hr RSI: Approaching Oversold! Support: $6.10 Resistance: $7.30 Does have a gap up to fill back up to $10⁉️⁉️🔥🚀 🌝Cathie Wood Space ETF Stocks🌝 $SRAC⭐ / $SPCE / $GSAT⭐ / $BA / $LMT / $LORL 🧨Telegram special boys!🧨 TELEGRAM ONLY 🎆JANURARY EARNINGS🎆 $AYU - 25th AH [Calls] $JNJ - 26th PM $MMM - 26th PM $RTX - 26th PM $GE - 26th PM [Iron Condors/Puts] $NEE - 26th PM [Iron Condors] $VERI - 26th PM $AXP - 26th PM $TXN - 26th AH [Calls] $MSFT - 26th AH $AMD - 26th AH [Gamble Puts] $SBUX - 26th AH $LRN - 26th AH $BA - 27th PM $ABOT - 27th PM $BA - 27th PM $T - 27th PM $AAPL - 27th AH $FB - 27th AH $TSLA - 27th AH $LEVI - 27th AH [Calls] $MCD - 28th PM $FLWR - 28th PM $LUV - 28th PM $MKC - 28th PM $AAL - 28th PM $VZ - 28th AH $CAT - 29th PM [Calls] $LLY - 28th PM $ERIC - 28th PM [Calls] ⚖UPCOMING FDA INFO⚖ $AUPH - Jan 22 APPROVED HALTED $ATXI - Feb ?? $ADMS - Feb 1st $GTHX - Feb 15th $CRMD - Feb 28th⭐ $ATNX - Feb 28th $KMPH - March 2nd⭐ $AQST - March 2nd⭐ $ORPH - March 17th $CYTR - March 17th⭐ $KNSA - March 21st $AVEO - March 31st 🙏 I would like to just thank all the supporters once again. Between your constant generosity and the overall communities kind words none of this would be possible. If you decide to donate please shoot me a PM so I can thank you! I dont care if its $1 or $1000 I'd still like to give you a thanks!🙏 ❤🖤💙💚🤎💛🧡💜🤍 My Links: ⭐Cashapp: $Hamstackz⭐ ⭐Venmo: $JDH3703 ⭐ ⭐Paypal: http://paypal.me/PhillyDiamondhands ⭐ Again! Thank you all for being apart of this great journey!
I absolutely hate the fact that cryptocurrency exists, that there are so many sites to gamble on and buy currency from with just basically turning on my VPN. I absolutely loathe it. I am excluded from all legal casinos in my country, but these cryptocasinos are everywhere. These relapses had me chasing losses, but for the first time ever, these losses are hitting me differently. I start to see these losses as items I wanted to buy and now can't. Lost 230 euros, what did I want to buy? A e-ink ereader, that is lost now. It seems I have relearned the value of money, but still go down the path of chasing losses. Yea 230 might be enough, but I am already dealing with depression of losing over 9k euros in the last 2 months, even if I had originally won those 9k from gambling. I'm just angry, I feel disgusted and feel disgust at the thought of gambling now. Will that help, I don't know. I've installed Betblocker and blocked all these crypto casinos and crypto exchanges, maybe that will help. If I at least would stop after losing a large sum it would be fine, but as long as there is even the tiniest amount left in my accounts, I try to find a way to deposit it and win some back. It is a disease I would not wish upon anyone, yet
Bored? Looking for something to do? Start with this list of things to do in the Sacramento area.
(Credit for the below list has to be given to u/BurritoFueled, who created the original list in 2014 and updated it a year later. Almost two-thirds of the items below are still from that original list. All I’ve done with the list is revive it a little bit by updating dead links and making little tweaks when necessary. Also, thanks to those that submitted new additions to the list last week. Over a third of the below items are new and a lot of the original items have had newer information added onto them.) People are always looking for something to do around here. Maybe you’re a transplant, unaware of what this area has to offer, or maybe you’re a lifelong resident, tired of the same old thing. Well friend, if you fall into the latter category, do not despair. There’s actually plenty of things to do in the Sacramento area – things of interest to almost any lifestyle, personality, or budget. So, whether you’re an athlete, geek, eccentric, hipster, weirdo, sexual deviant or just a normal person looking for a new activity, below is a list of activities for you to try. Please note that it includes only activities that take place at least a few times a year – no one-off events or festivals here. Enjoy this list. If you have any suggestions of your own to add, comment below in this thread. I'll try to keep this as up to date as possible. Away we go. UPDATED 10-6-20 (Note: Due to the current pandemic, some of these activities may be curtailed or not offered at all.)
Become the next Tiger Woods (the golf part, not the cheating, getting your windshield smashed by your wife with one of your golf clubs part). Start by hitting up a driving range at Top Golf or Haggin Oaks.
If you prefer culture that keeps you on your toes, check out the Sacramento Ballet. Want to become a ballet dancer? They offer classes as well.
More into theater? Check out the Broadway shows that come to the Music Circus annually. If your tastes align with smaller productions, check out the B Street Theater calendar.
Join an intergalactic war for local landmarks and public art in the Google-produced, GPS-Dependent MMORPG, Ingress.
Tour the live-work spaces of Sacramento artists, and buy some art, during First Friday at Warehouse Artist’s Lofts. They often put on performances during First Friday as well.
Everyone knows about the Kings, Republic and the River Cats. Check out some of Sacramento's other sports teams: The Sacramento Sirens (women's tackle football), Sacramento Gold (men's soccer), or California Storm (women's soccer).
Purchase the sweetest sweet corn in all the land at the Davis Ranch in Sloughhouse.
When you're done in Sloughhouse, head a little further up the Jackson Highway (just past Rancho Murieta), hang a left on Michigan Bar Road, and cross the bridge (it's safe, trust me!) for one of the most historic, beautiful, and adventurous road trips in the entire area. Make sure you bring a hearty vehicle and avoid during winter and spring.
Play bocce ball at East Portal Park or Sutter’s Landing Park. When Sutter’s Landing skate park is open, you can borrow free bocce balls at the front desk if you give them your ID.
Get your party on at THIS, a free concert series every second Saturday at 20th and K during the warm months of the year.
Of course there’s the “official” Sacramento History Museum. A visit there can include an underground tour of Old Sacramento if that interests you.
After taking the underground tour, take a stroll across this sub’s favorite bridge – the Tower Bridge). Make sure to take a picture and post it. This sub can’t get enough bridge pics.
Beat the summer heat by getting soaked at Raging Waters, getting towed by a cable (wakeboarding) at Wake Island Water Park, or playing on floating inflatable climbing structures at Velocity Island Park. If you prefer to dip your toes in the sand and just lay out in the sun, try Sand Cove Park.
Show off your moves at the downtown outdoor ice skating rink during the winter months. If you need to show them off year round, you can do so indoors at Skatetown in Roseville.
Take a short drive to Rancho Seco Lake for picnics, swimming, fishing, and hiking. Watch out for three-headed frogs.
Attend an event with the cool kids at Sacramento’s DIY artist event space, The Red Museum.
Take a trip out of the city and go visit one of our many state parks in the region.
Or stay in the city and visit one of those state parks – the Leland Stanford Mansion – if 19th century Victorian architecture floats your boat.
Watch some slobberknockers live with Total Wrestling Federation and Supreme Pro Wrestling events. If you'd rather lay the smack down on some jabroni yourself, both promotions offer training.
Join a fraternal organization like the Elks or Odd Fellows for cheap drinks/meals, camaraderie, and old school cool – all for a good cause.
Check out – or offer your services – at the Oak Park Fix-it Café, a community-powered gathering for repairing and maintaining bicycles, clothing, household items, and the ties that bind a healthy community.
Buy some tricks, attend magic workshops, and become the next David Blaine at Grand Illusions.
Go watch some horseracing at Cal Expo. It’s harness racing from November through April and then traditional horseracing during the state fair. Want to end up with small fortune at the end of your day at the track? It’s easy. Just start your day there with a large fortune.
Watch some high school football! The Sacramento region boasts some of the best high school programs in the state. Check out top notch teams like Grant, Elk Grove, Folsom, and Del Oro to see potential NCAA Division 1 and NFL players of the future.
Watch some college football! Sac State had a huge resurgence in 2019 and UC Davis has always had a solid program. You can also check out the JC teams such as ARC and Sac City.
If Live-Action Role Play (LARP) floats your boat, Sacramento Valley Amtgard has the battles, weapons workshops, and skills classes you've been looking for.
Take a ride on the Sacramento River Train. You can ride the train or power along the tracks yourself with railbikes. They have different train excursions, including beer tasting and wine tasting trips. If you want to book a trip on a weekend, book early.
Want to learn how to fish? Try Fishing in the City from the California Department of Fish and Wildlife. After you’ve learned, check out the blog from FishingBooker on where and when to go fishing and what to expect. For some recent local recommendations, check here, here, here or here.
If fishing tours are more your style, catch your lunch on a guided fishing tour of local waterways.
Take in a play at one of Sacramento's smaller, edgier, more contemporary community theatre companies, like the Big Idea Theatre.
Do you like beer and visiting breweries, but don’t like driving between them? Midtown Sacramento has got you covered! Make a day of it by visiting these breweries, all within easy walking distance of each other: At Ease, Sacrament, Big Stump, Golden Road, Fieldwork, and Alaro. If you don’t mind walking a few extra blocks, you can add Device and Urban Roots to the list.
Join a running club. Sloppy Moose Running Club does a three-mile fun run at New Helvetia Brewing on Thursdays. Fleet Feet Sacramento Run Crew meets every Tuesday at Sac Yard Tap House for a three-mile walk or run.
Attend Wonk Wednesday, where policy wonks, planners, developers, urban designers and concerned citizens partake in an ongoing conversation about smart growth, urban planning, and climate change.
Enjoy your favorite horror flicks in a whole new way with Amber's Sweets – one of the nation's premier shadow casting troupes.
Attend a conversation hosted by California Groundbreakers – you’ll hear interesting people talking about interesting things.
Do you need a heavy dose of tranquility? Stroll around the UC Davis Arboretum for an afternoon and take in all the flora and fauna. If you really love flowers, you can also visit Horton Iris Garden in Loomis (open April and May only) or Amador Flower Farm in Plymouth.
Ever wanted to learn to sail, kayak or row? You’re in luck! The Sac State Aquatic Center offers lessons for those activities and more.
Antiquing never gets old, right? Visit Midway Antique Mall in Citrus Heights (focusing almost solely on midcentury wares), Antique Trove in Roseville, or the Antique Fair that happens every second Sunday on X Street, under the freeway.
Take the plunge at SkyDance Skydiving in Davis. If you want the skydiving experience without actually jumping out of an airplane, try iFly in Roseville.
Produce and broadcast your own TV and radio programs at Access Sacramento.
Play that weird sport you always watch when nothing else is on during the Winter Olympics with the Wine Country Curling Club at Skatetown in Roseville.
If playing weird sports on ice isn’t your thing, partake in a weird sport on dirt and grass with the Sacramento Cricket Association.
For more normal sports, with a big time social emphasis as well, join one of the sports leagues at XOSO and make some new friends.
Programmers, coders, entrepreneurs, makers, inventors, and those who aspire to be one of these: find workspace, resources, meet-ups, and classes at the Hacker Lab..
Pub crawls are the past, The Brew Bike is the present. Just ask anyone here. This sub loves the Brew Bike!
If you would rather pedal over water than on land, try The Brew Boat.
If you don't wanna work and just wanna bang on your drum all day, Sacramento Taiko Dan can help.
Want to become the next Picasso? You gotta start somewhere, so take a paint and sip class at The Painted Cork in Midtown Sacramento or Historic Folsom.
It’s well known that you can play miniature golf at Scandia, but did you know that there are indoor mini golf courses in the area as well? Try SacMiniGolf in Old Sacramento, Flatstick Pub in DoCo downtown, or even glow-in-the-dark indoor mini golf at Monster Mini Golf in Rancho Cordova or at CaliGlo in Elk Grove.
Find cool stuff that other people lost with the Sacramento Metal Detecting Buffs. Or learn to dive and see if you can meet up with u/Merman_Mike and find stuff at the bottom of rivers or lakes.
Visit tribal-owned Seka Hills Olive Mill in the Capay Valley to taste local olive oils and honeys as well as getting a tour of the mill itself. Check to see if there is an active Groupon before going.
(NSFW) Take it all off and strut your stuff at Gold Club Centerfolds Amateur night for a chance to win $450. Sorry guys...this is for ladies only.
(NSFW) Men and women, if you just like walking around naked in general, let it all hang out at Laguna del Sol nudist resort in Wilton.
(NSFW) Find someone to get freaky with at an Allures Lifestyle swinger party.
Make Mr. Miyagi proud by joining the Sacramento Bonsai Club – the oldest bonsai club in the United States.
Find true love, or just someone to do all these activities with, at a local singles event.
Rent a raft with River Rat or American River Raft Rentals, or grab some crap from the pool, and participate in a favorite Sacramento pastime by floating on the American River.
For a more invigorating river experience try a whitewater tour
Explore the fascinating world of orchid collecting (seriously, this hobby and the people who pursue it are crazy interesting) with the Sacramento Orchid Society.
The Sacramento Cactus and Succulent Society meets, and hosts a talk, at the Shepard Garden and Arts Center in McKinley Park monthly and welcomes guests. They also do field trips and their Annual Show and Sale is a must-see event for plant lovers.
Take a relaxing cruise on the Sacramento River aboard the Hornblower Yacht.
Did you know an "extreme sport" was invented in Sacramento? While the Z-Boys were taking skateboarding to the next level down in Dogtown, Launie Porteous and Mark Robinson were pioneering flatland (or "inland") skimboarding right here in the River City. Buy yourself a board or make one and give it a try pretty much anywhere you can find shallow water. Paradise and Discovery beaches along the American are this sports' ancestral home.
Mellow out at a kava kava bar with locations in Rancho Cordova and Davis.
Get the willies watching one of the largest Mexican Bat colonies on the west coast take to the skies at a Yolo Bypass Wildlife Area Bat Talk and Walk.
Hang out with feral chickens (yes, chickens!) at Fair Oaks Village Park. In the summer, you can watch live music with said chickens at their summer concerts in the park series.
Not to diminish the concert series at Fair Oaks Village Park, but when you hear "concerts in the park", everyone knows that is the Concerts in the Park series in downtown Sacramento. Live local and national acts perform on Friday evenings in the summer, and it’s totally free. If you’re not good with crowds you may want to give this a miss because it is packed!
Vacation or day trip so close, yet feel so far away, along the Delta. Rent a boat, jet skis, a cabin or camping spot, buy some bait and tackle, and/or eat out at various locations on the river.
Take a drive around the world’s smallest mountain range: the Sutter Buttes. You can actually drive around and hike the Sutter Buttes in the same day, however hiking is not free, you must do it as part of a guided group and you have to reserve a spot in advance.
Drive to Rio Vista via the only two ferries that are actually part of the state highway system.
Catch a free lunchtime concert every Wednesday at Westminster Presbyterian Church downtown. You can bring a bag lunch!
Go to the top of the Memorial Garage on the corner of 14th and H for some nice views. Watch the sunset or visit on a nice clear night.
Explore some of Sacramento’s nature preserves. Start with Effie Yeaw and Cosumnes River. Camp Pollock is another one, but unfortunately, it is not in the best of areas.
Hello all, I am here with my plan for my subreddit Reddit Nation If you are interested in joining a (hopefully) newly formed island nation then this is the place to be. I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request. Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan. Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
Acquire the island
Set up the initial infrastructure
Form of Government that I propose is a constitutional monarchy
Country will be run as a democracy (two chamber form of parliament)
Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
Establishment of the Government Building
For now this is where the government will convene until more infrastructure is added and the island is improved.
People will be made citizens at this location
Establishment of Civil Services
Waste collection, Police, Social Services
Establishment of a Port
This will allow supplies to enter the island.
This will allow for the island to participate with the rest of the world economically(I will expand on this later).
The port will function as the entrance point and exit until the runway can be constructed.
Establishment of Resident Housing
This temporary housing will be until the island can be developed and more permanent buildings can be put up.
Resident Housing and the Government building will be set up near the port until island development is completed
Set up a massive solar powered crypto mining operation to help finance further development of the island
A partnership with big mining companies can be brokered to have this set up
Make the Island a desirable location
Set up the island as a luxury city
Free housing for citizens
Free healthcare for citizens
Free schooling and university for citizens
Build resorts and legalize gambling on the island
The revenue generated from such activities will help finance further development of the island
With the revenue generated from this, the island will be able to provide for the residents a luxury city
The gambling industry investments will help to finance the island as well
Make the island a banking haven
Set up a bank on the island
No KYC laws will be enforced on the island
This will attract forgien investment into the island
Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
No income tax,sales tax, capital gains tax or corporate on the island
Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
This will help attract a lot more forgien investment as well
Will attract companies to set up offices here and thus bring jobs to the island.
Expand on the island infrastructure
Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
Build more free luxury housing for residents
Establish schools and universities
Establish libraries
Establish Museums
Establish a healthcare system
Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding According to my calculations (you can look at them below) it will cost us $2,600,000
The Island itself
500,000
The Port
200,000 to build
This will benefit us later when we receive forgien investments
500,000 for 250 passenger ferry
We will budget around 100,000 for operating costs
Initial Buildings
1,000,000
These buildings will be permanently built but occupied until the island is built and then will be sold off to recoup the investment.
Buildings include
Civil Services
Around 50,000 to purchase initial equipment and medical supplies
Another 100,000 to purchase ATVs
Another 100,000 to purchase off roading vehicles
Bitcoin mining operation
We will get the money for the operation by partnering with a large company
Water Purification
50,000
Food Supply
We will purchase MRE’s and other preserved food products for the island
An exact count of this cannot be made until we move further into the plan
Further development of the island
This will be financed by the forgien investments in regards to banking, gambling and tourism along with money raised from property taxes
Now in regards to how we will raise that sum
We will sell off noble titles (this is why we will set up a constitutional monarchy)
While no price has been established yet, the titles for sale can include
Duke, Duchess.
Marquess, Marchioness.
Earl, Countess.
Viscount, Viscountess.
Baron, Baroness.
A small percentage of the island (less than 25%) will be earmarked for sale immediately. The part earmarked for sale will be part of the planned downtown district/capital and developers of this land will be allowed to build whatever structures they want and won't have the problem of jumping through hoops like zoning laws.
On a 60 acre island, 15 acres would be marked for sale
The acres on this haven of an island will be sold for 250,000 each so the island would raise 4.5 million and the sale of said acres will help kickstart the massive infrastructure of the island and provide the island with adequate funding.
Once the island is set up, the island will continue to profit from digital activities which will allow it to not have to charge an income tax or corporate tax
Digital activities include the solar powered bitcoin mining operation
We will partner with an existing bitcoin company for this
Solar powered web hosting
People can become citizens for a fee of $10 which will mainly go to the printing of their ID and filing in the government archives but the island will profit a few dollars off of this
If you have made it this far, please join the subreddit for this plan More information to come soon, thank you.
Hello all, I am here with my plan for my subreddit Reddit Nation If you are interested in joining a (hopefully) newly formed island nation then this is the place to be. I have prepared a plan that explains how we will go about doing such a task. More detailed elaborations for each component of the plan will be given at request. Obviously the first question is where we would have our island. I have identified places of interest. One place of interest is the Nation of Belize. Belize is a small nation with a low GDP of 2 Billion and they are selling off most of their island. Islands with 50-100 acres can be acquired for around 500,000; give or take 50,000. From the people (Government Officials) I have contacted, they are perfectly okay with this plan. Now here is a 5 step proposal of how this will come to fruition (I will expand on how we will finance this)
Acquire the island
Set up the initial infrastructure
Form of Government that I propose is a constitutional monarchy
Country will be run as a democracy (two chamber form of parliament)
Noble titles such as Duke, Earl, Count, Lord, Baron etc will be sold off to help initially finance the island.
Establishment of the Government Building
For now this is where the government will convene until more infrastructure is added and the island is improved.
People will be made citizens at this location
Establishment of Civil Services
Waste collection, Police, Social Services
Establishment of a Port
This will allow supplies to enter the island.
This will allow for the island to participate with the rest of the world economically(I will expand on this later).
The port will function as the entrance point and exit until the runway can be constructed.
Establishment of Resident Housing
This temporary housing will be until the island can be developed and more permanent buildings can be put up.
Resident Housing and the Government building will be set up near the port until island development is completed
Set up a massive solar powered crypto mining operation to help finance further development of the island
A partnership with big mining companies can be brokered to have this set up
Make the Island a desirable location
Set up the island as a luxury city
Free housing for citizens
Free healthcare for citizens
Free schooling and university for citizens
Build resorts and legalize gambling on the island
The revenue generated from such activities will help finance further development of the island
With the revenue generated from this, the island will be able to provide for the residents a luxury city
The gambling industry investments will help to finance the island as well
Make the island a banking haven
Set up a bank on the island
No KYC laws will be enforced on the island
This will attract forgien investment into the island
Allow cryptocurrency companies to conduct business without oversight and for miners to set up large scale operations using solar powered energy
No income tax,sales tax, capital gains tax or corporate on the island
Commercial businesses such as casinos, resorts, and banks will just pay slightly inflated property taxes
This will help attract a lot more forgien investment as well
Will attract companies to set up offices here and thus bring jobs to the island.
Expand on the island infrastructure
Build an airport. The islands have enough space to accommodate runways for planes even up to jumbo jets
Build more free luxury housing for residents
Establish schools and universities
Establish libraries
Establish Museums
Establish a healthcare system
Enjoy the luxury haven of an Island that we have built
Now for the question of how much this island will cost and how we will get the funding According to my calculations (you can look at them below) it will cost us $2,600,000
The Island itself
500,000
The Port
200,000 to build
This will benefit us later when we receive forgien investments
500,000 for 250 passenger ferry
We will budget around 100,000 for operating costs
Initial Buildings
1,000,000
These buildings will be permanently built but occupied until the island is built and then will be sold off to recoup the investment.
Buildings include
Civil Services
Around 50,000 to purchase initial equipment and medical supplies
Another 100,000 to purchase ATVs
Another 100,000 to purchase off roading vehicles
Bitcoin mining operation
We will get the money for the operation by partnering with a large company
Water Purification
50,000
Food Supply
We will purchase MRE’s and other preserved food products for the island
An exact count of this cannot be made until we move further into the plan
Further development of the island
This will be financed by the forgien investments in regards to banking, gambling and tourism along with money raised from property taxes
Now in regards to how we will raise that sum
We will sell off noble titles (this is why we will set up a constitutional monarchy)
While no price has been established yet, the titles for sale can include
Duke, Duchess.
Marquess, Marchioness.
Earl, Countess.
Viscount, Viscountess.
Baron, Baroness.
A small percentage of the island (less than 25%) will be earmarked for sale immediately. The part earmarked for sale will be part of the planned downtown district/capital and developers of this land will be allowed to build whatever structures they want and won't have the problem of jumping through hoops like zoning laws.
On a 60 acre island, 15 acres would be marked for sale
The acres on this haven of an island will be sold for 250,000 each so the island would raise 4.5 million and the sale of said acres will help kickstart the massive infrastructure of the island and provide the island with adequate funding.
Once the island is set up, the island will continue to profit from digital activities which will allow it to not have to charge an income tax or corporate tax
Digital activities include the solar powered bitcoin mining operation
We will partner with an existing bitcoin company for this
Solar powered web hosting
People can become citizens for a fee of $10 which will mainly go to the printing of their ID and filing in the government archives but the island will profit a few dollars off of this
If you have made it this far, please join the subreddit for this plan More information to come soon, thank you.
Provably fair gambling is unique to cryptocurrency-accepting gambling sites. Provably fair gaming makes is impossible for the casino (or the player) to cheat as the results can be verified later. Apart from sports betting , any gambling action you take at a casino site requires that a computer comes up with a random number. Online Gambling Industry, Cryptocurrency, And Blockchain. Even as states are working on legislation for online sports betting and casinos, there’s another issue about the possibility of gambling with cryptocurrency. Many gamblers are seeking this option because cryptos afford them the benefit of anonymity and privacy. Make sure that if your country actually has regulations and laws dealing with cryptocurrency and/or gambling online that you abide by them to the best of your ability. Breaking the law would put you at a significant risk of possible legal consequences, and no game or bet is worth going to jail for. Cryptocurrency and the Online Gambling Industry. Thanks in large part to some amazing advancements in the world of technology, there’s a new issue for each nation to contemplate in the online gambling realm. That new issue involves the use of cryptocurrency as a legal means of funding gambling accounts. Is gambling with Bitcoin legal. The legislation in the area of Bitcoin gambling is very immature and leaves a lot of space for speculation. Operators starting their online casinos that will accept Bitcoin are often confused by controversial facts and ambiguous decisions of authorities in regards to the cryptocurrency. Legal Cryptocurrency Betting Having first hit the scene in early 2009, cryptocurrency is still a relatively recent development in the world of exchange and is increasing in popularity, with more vendors adding it as an accepted form of payment each day. Is Online Gambling with Cryptocurrencies Even Legal? The legality of online gambling with cryptocurrency belongs to the grey area of online gaming and is open to speculation. Most countries do not clearly state that Bitcoin or other cryptos are banned or accepted, which means that gambling with them is neither sanctioned nor prohibited. Gambling operators must not leave any stone unturned, as regards availing intuitive and responsive interface. In essence, users should find it effortless to navigate the cryptocurrency gambling website and have quick access to new updates. It will surprise you how much players lose as a result of a poor or slow interface. At one end, the Bitcoin cryptocurrency is completely legal in the county. At the other end, there is quite an ambiguity on the legal use of Bitcoin in specific industries, such as gambling. The IRS continues to monitor this cryptocurrency closely and keeps updating its guidelines on Bitcoin for taxpayers. Blockchain technology has brought innovations and improvements to the online gambling world that go beyond cryptocurrencies. Nowadays, it’s possible to play at provably fair casinos with game outcomes that are verifiable on the blockchain. What’s more, crypto casinos can often offer lower house margins and other financial benefits to their players. However, with these cryptocurrency […]
CHANGING THE BETTING GAME IN CRYPTO! BX.BET ICO REVIEW
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