WAVES And More Oil
Enough talk about Bitcoin already. Bitcoin is dead money and has been since their stupid blockchain started getting clogged. I’d bet my bottom dollar that all these people buying trying to catch an ‘oversold bounce’ couldn’t tell you a thing about how the Bitcoin blockchain works, other than ‘it will one day replace gold’.
Having said that, there are a lot of other cryptos looking attractive here on this sell-off, WAVES in particular. There are many things the folks over at WAVES are working on that is game-changing in the crypto space, details of which I will outline perhaps in another post. Just know that not all cryptos were created equal and the Bitcoin blockchain has its limits and will be succeeded, much like a Nokia flip phone in 2008.
To be clear, I do not want to invest a significant amount into cryptos, or even consider it an investment for that matter. All I would like to do is get some skin in the game and stockpile some cryptos to use blockchains. Why? Blockchains are slowly taking over certain aspects of our lives, you just haven’t noticed it yet. Plus, I’ve always wanted to be a HODLer and now I can be.
When blockchain technology takes off, it will not do so in tandem, but rather in sequence. Ideas like data decentralization being explored by the likes of the SIA, STORJ, IPFS, and MAID coins are assuredly interesting, but will not materialize any time within the next few years. Their progress should be monitored from time to time, but are still far too early for an investment.
It is my personal belief that the first blockchains to gain traction will be the ones surrounding blockchain infrastructure to simplify DApp development, cryptocoin exchange reliability, and conversion back into fiat currency. Until that gets figured out, it will be very difficult to utilize blockchains effectively. Waves just so happens to do all of that and more.
Elsewhere, the fracking industry got hit hard yesterday sending my SLCA down to the tune of -5%. There is no other way to interpret this, other than it being a blessing from the gods – a late Christmas present of sorts, and the gods would frown upon me if I didn’t buy more. Knowing this, I did just that and added more at $36.10, putting my cost basis in the mid $36s. In an environment of high oil prices, there is no better performer in the industry than the frackers – don’t believe me just watch.