Bitcoin, Cryptocurrency, DeFi , Yield Farming, and Ethereum Update

Boxmining avatar Boxmining
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Description

Latest Bitcoin 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 technical analy...

AI Analysis

This video dives into the latest happenings in the crypto world, cutting through the hype and drama with a pragmatic, no-BS approach. It covers everything from recent market movements and frustrating rug pulls to the ongoing "crypto Twitter" controversies, offering insights into personal investment strategies and a deep dive into emerging areas like China's digital currency and the future of NFTs and blockchain gaming.

Here's a breakdown of the key discussions:

* Current Crypto Climate and Caution: The space is currently riddled with drama, "BS," and numerous rug pulls. There's a significant increase in outright scams, making it incredibly easy to get scammed on early-phase projects. The signal-to-noise ratio for good projects is way off because it's now so simple to copy a project or launch a new yield farming scheme with minimal technical skill. This has led to a much more cautious approach to investing.
* Market Recap: Bitcoin has finally moved back above $11,000, and both Bitcoin and Ethereum have shown positive momentum over the past week. The charts for both look almost identical, suggesting large "whale" orders drove these significant price increases.
* Crypto Twitter Drama and Rug Pulls:
* Blue Kirby: This prominent YFI supporter was "doxed" and had his family threatened after selling his YFI holdings and dabbling in NFTs. People were angered, especially when YFI prices dropped. The presenter believes Kirby was unfairly scapegoated, stating that taking profits is a normal and necessary part of investing and shouldn't be demonized. The NFT art venture was seen as irrelevant to the core issue.
* Sam Bankman-Fried (SBF): The founder of Alameda Research, FTX, and Serum (and involved with SushiSwap) borrowed YFI using his FTT (FTX's native token) as collateral and then sold the YFI, effectively shorting it. While this created a significant price drop for YFI, leading to outrage, the presenter views this as a strategic, albeit risky, play. While there are legitimate questions about using one's own token as collateral on a lending platform, the presenter doesn't see it as a "free" short.
* Community Behavior: The intense emotional reactions to price drops and perceived "rug pulls" are highlighted, with people quickly resorting to "pitchforks" and blaming others for their own investment losses. It's compared to the game "Among Us," where you have to identify the "backstabbers" among many projects.
* Breeder/YF Breeder: These projects were clear rug pulls, where the teams found ingenious ways to mint an infinite supply of coins and dump them. The presenter consciously avoided these projects, recognizing the high risk involved with anonymous teams and the lack of underlying value beyond simple economic plays.
* Audits: It's stressed that an audit only confirms a contract isn't hackable; it doesn't guarantee a project's legitimacy or that the team won't "exit scam" through other means, like creating a new migration.
* Personal Investment Strategy: The presenter is spending a lot more time researching projects and is strategically being much more careful. The focus is on legitimate projects with real teams, not anonymous or "hot" ones. Taking profits is seen as essential for survival in the crypto market.
* Specific Projects and Holdings:
* Core/Encore: These projects gained popularity by locking liquidity to prevent rug pulls, a direct response to rampant scams. However, the presenter hasn't touched them, feeling that while the anti-rug pull innovation is interesting, there isn't enough signal (real value or utility) to justify investment, seeing them as too speculative.
* YFI, Sushi, Uni, Pancakeswap: Still holding and farming some of these, but considering de-risking and taking some profits as prices fluctuate.
* Cream: Still holding a substantial amount, but considering de-risking soon due to heavy usage and past technical challenges.
* Trust Swap: Still holds and supports, believing in their launchpad capabilities and hoping for more development.
* Vechain (VET): Very bullish on Vechain for enterprise adoption (anti-counterfeit, supply chain, logistics). This kind of industry adoption is expected to be faster and more widespread than mainstream blockchain gaming.
* Swag (Adult Industry Project): This is a project currently being researched deeply due to its token sale and business model. The adult industry has a history of pioneering internet and streaming technologies, and the presenter sees a huge, relatively untouched market where blockchain can solve major payment processing issues and enable unique NFT content. This is considered a potentially high-impact, though sensitive, investment opportunity.
* DCEP (China's Digital Currency): China is actively pushing its digital currency, DCEP (Digital Currency Electronic Payment), giving it away to users for trial. It's a completely centralized, government-issued currency designed to introduce people to digital currencies. Interestingly, Chinese central banking entities have recently spoken positively about Ethereum and Bitcoin, hinting at a potential future where DCEP could bridge with other cryptocurrencies. It also features unique capabilities like offline, tap-to-transfer functionality.
* NFT and Blockchain Gaming:
* Long-Term Bullish: The presenter is very bullish on blockchain gaming for the long term (5-10 years), believing it can solve many core gaming problems.
* Current Challenges: Despite the potential, real innovation is hard to come by. Many current blockchain games struggle with game design, economic systems, and user retention. Game developers often misunderstand the complexities of in-game economies and trading (e.g., Blizzard making Hearthstone untradable).
* Evolution of Perspective: While previously very demanding on user retention for blockchain games (like traditional mainstream games), the presenter now acknowledges that crypto users are often willing to pay for the "experience" or "art" of an NFT, even if the game isn't highly fun or doesn't retain users (e.g., CryptoKitties' success as a proof of concept despite poor retention). The industry is still experimental, but the long-term possibilities are immense.
* Harvest Finance ($FARM): The presenter is neutral-to-cautious on Harvest, having farmed some free FARM tokens but pulled out other funds. There were past technical issues where ETH got stuck, which were resolved, but it fueled general suspicion, even without believing malicious intent.
* Community and Personal Updates:
* The "Bitcoin Out of the Box" podcast is releasing more episodes, offering longer interviews.
* The Boxmining.com newsletter (Newsletter 11 is out) provides detailed weekly updates, including a list of rug pulls. It's currently free but will transition to a monetized model to support the team.
* The Telegram group is now private and invite-only due to moderation issues. The Discord channel is now the primary public community hub, with plans for more engagement like voice chats and even playing games.
* The presenter has started intermittent fasting to lose weight and is also engaging in more real-life activities during slower crypto periods.

Transcript

uh um let's see it should say excellent connection and we are live guys so welcome back welcome welcome back to another episode of box mining here i have no idea why youtube is always well black screen right now so tell me if you guys can hear me welcome back to another episode of box mining where we cover cryptocurrency in a non-bs fashion yes that's my new intro i thought i thought i'd be cool you know just cut the bs out cut that out maybe just end the stream now you know cut a lot of bs in ...