(Monday) Crypto and Bitcoin Livestream (new opportunities?)

Boxmining avatar Boxmining
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Description

Latest Bitcoin, Ethereum, and Cryptocurrency news and trends. We take a look at the key events affecting the blockchain sector and review market movements. Combining both fundamental analysis and tech...

AI Analysis

Here's a summary of the video, covering the latest in crypto and potential new opportunities:

This livestream provides a comprehensive look at the current cryptocurrency market, exploring key trends and emerging investment opportunities beyond just Bitcoin and Ethereum. It delves into the resurgence of yield farming on Binance Smart Chain, the booming NFT market, and the growing ecosystems of Polkadot and Kusama, all while sharing personal strategies and insights on navigating this fast-paced space.

Here are the key topics and details discussed:

* Current Market Overview:
* The weekend was relatively calm, which is seen as a positive sign, indicating stability rather than drastic drops.
* Bitcoin is currently around $57,000, having moved up 17% over the last week but remaining stable in the last 24 hours. There's some resistance, but it's steadily climbing.
* Ethereum attempted to push past $2,000 but met strong resistance, now resting below that level. This $2,000 mark is the next big barrier for Ethereum to break.
* While top cryptocurrencies like Bitcoin and Ethereum have been relatively stable in the short term, many smaller altcoins ("the mice") are seeing significant movement, especially exchange tokens like KuCoin and OKB, trying to catch up to Binance Coin's recent surge.

* Bitcoin's Bullish Trajectory:
* Bitcoin is on a strong, almost linear upward trend. This current bull run is significantly larger than the 2017 hype cycle.
* There's a lot more institutional involvement and talk this time around, citing examples like Coinbase's upcoming IPO and Tesla's $1.5 billion Bitcoin purchase.
* Despite calls for caution, the presenter remains very bullish, having re-entered the market after the Chinese New Year period. Historically, CNY brought market dumps, but this year's lack of a major dip signaled renewed confidence, especially as Asia is turning super bullish on crypto again.

* Ethereum's Resilience Amidst Competition:
* Even with Binance Smart Chain (BSC) growing rapidly, Ethereum's daily transaction count hasn't dropped, and gas prices remain high (around $25+ for a Uniswap trade).
* This suggests that BSC isn't directly "stealing" Ethereum users but rather serving a different segment of the market, particularly those with smaller transactions who might otherwise be priced out of Ethereum due to high fees.
* The presenter views BSC not as a competitor but as an alternative or even a "testnet" for Ethereum, offering a cheaper environment for developers to experiment.

* The Return of Yield Farming on Binance Smart Chain (BSC):
* BSC's extremely low transaction costs (mere cents) have ignited a second wave of "food farming" projects, similar to the craze seen on Ethereum with projects like Yearn Finance (YFI) and SushiSwap.
* This allows a much wider audience to participate, as they weren't able to afford the high gas fees on Ethereum during the first wave.
* Strategy and Risk Management: The presenter's personal strategy is to use idle funds (e.g., wrapped DOT, BTC, ETH on BSC) to "farm" for new tokens. This is seen as a "free buffet" – getting free samples from various projects without directly buying their native tokens.
* He spreads risk by participating in multiple farms like Goose Finance ($EGG) and Viking Finance ($VIKING).
* He highlights the extreme risk of high APY pools (e.g., 11,000%) and warns against greed, only participating in these if the code is audited, and he's confident he's early and the price will hold, always with strict risk management.
* Safety Update: Goose Finance ($EGG) recently underwent a Certik audit, confirming its contract safety, which is a positive sign and explains its high Total Value Locked (TVL) of $132 million. Viking Finance, having forked Goose's code, benefits from this indirectly.
* Caution: Still, the presenter strongly advises caution due to the prevalence of unaudited contracts and potential "rug pulls," which have been observed even within trusted community groups. It's difficult for individuals to fully audit these complex contracts.

* Insights on Binance Smart Chain (BSC):
* Acknowledges BSC's current centralization (fewer nodes, largely controlled by Binance) but notes their plans for expansion.
* Emphasizes that BSC will never reach Ethereum's level of decentralization, which is fine, as different applications require different levels of decentralization. For instance, a social app might prioritize speed and cost over absolute decentralization, while a global financial exchange needs the latter.
* Pushes back against "tribalism" in the blockchain space and racial concerns about Binance's origins, focusing instead on the technical trade-offs and utility.

* The NFT Craze:
* Non-Fungible Tokens (NFTs) are a massive trend, with examples like the Nyan Cat GIF selling for 300 ETH ($590,000), a fake Banksy selling for $1 million, and Logan Paul raising $3.5 million from NFT sales in one day.
* Initially skeptical (why buy a GIF you can download?), the presenter now sees the value in NFTs as a way to support artists and give them recognition.
* Skepticism and Due Diligence: He remains highly skeptical of the reported high sale figures due to the ease of "wash trading" or "fake bids" on open networks, where founders could buy their own NFTs to inflate perceived value. It's nearly impossible for news outlets to verify genuine interest.
* He advises caution about the long-term value of NFTs beyond the current fad, actively researching how to ensure they hold value rather than becoming a "tune-up craze." Personally, he buys NFTs but limits his spending to around $60.

* Other News & Opportunities:
* Bitcoin's Triumph: Amusingly notes Elon Musk explaining money to Peter Schiff and Bitcoin surpassing gold in price, directly countering Schiff's past predictions of Bitcoin going to zero.
* Blockchain & Enterprises: Acknowledges the growing trend of blockchain tech bridging DApps and traditional enterprises as common knowledge.
* Polkadot ($DOT) & Kusama ($KSM): Polkadot enables building individual blockchains (parachains) connected by a central relay chain, offering a different scaling solution than Ethereum's single chain. The demand for DOT is driven by projects needing to stake it to secure a parachain slot. Kusama serves as Polkadot's public testnet, popular for more experimental applications where full financial stability isn't critical.
* Fractal ($FCL): A new project focused on "freeing the web," launching a token soon (Feb 25th) with an event on Feb 23rd.
* Free Alpha: Mask Network Initial Twitter Offering (ITO): Users with a Twitter account and the Mask browser extension can potentially claim free Mask tokens. This highlights the ongoing "free money" opportunities available to active crypto users.

* Q&A and Personal Reflections:
* ETH Price FUD: Addresses fear around Ethereum's price, particularly for newer investors. For long-term holders, significant gains make such fears less impactful.
* Dot-Com Boom Analogy: Aims to be an "insider" in the crypto space, gaining deep industry knowledge and networking with key figures to identify strong projects and avoid past mistakes of retail investors in the Dot-Com bubble.
* YouTube vs. Investing: Prioritizes being a top investor over being a top YouTuber, stating that YouTube revenue is negligible compared to the passive income generated from farming.
* Community Value: Emphasizes that he continues YouTube primarily for the community, which has provided invaluable support and collective research, especially in navigating complex areas like yield farming.
* Bitcoin to $100k: Confidently states Bitcoin will go well beyond $100,000, comparing current skepticism to doubts about Bitcoin hitting $1,000 in 2012.
* Linear ($LINA) / $LUSD: Notes the successful listing of LUSD (a synthetic USD) on Bitmax as a positive development for the Linear protocol.
* Content Creation: Acknowledges the difficulty of consistent content creation, especially short-form videos which require extensive editing he dislikes, preferring the spontaneity of livestreams.
* Market Dumps: Mentions the historical "bloody Mondays" but notes the current lack of aggressive dips as a good sign.
* Personal Growth: Reflects on his journey from a science background to learning video production and venture capital, emphasizing continuous learning and adapting.

The presenter concludes by thanking the community for their support, which enables him to continue sharing insights from the cutting edge of the crypto space.

Transcript

everything ready so make sure you guys smash up the likes guys i'm updating the title as of this moment and i have just clicked the live stream button so guys welcome welcome back to another episode of box mining here it is monday the 22nd and well there's hasn't been too much going on into cryptocurrency space over the weekend it's been relatively quiet but i actually see there's a lot of opportunities as well so this episode is going to be primarily focused on just taking a look at the overal...