We can be heroes: Part 1: Assemble!
I get by with a little help from my friends…
Cryptocurrencies are a new asset class, designed by the people, for the people and as yet, unaffected by government manipulation and control. This financial or fiduciary freedom can be liberating, however, we must also remember that Cryptopia is still the “wild west”… The boundless land of possibility is also unaffected by regulations, legislation or external protection.
It is true that some crypto investments may see returns of 1000%, 10 000% or even higher. It is similarly true that 100% of your new altcoin investment can disappear without so much as a puff of smoke. One crypto investor lost over $180 000 this month, due to inexperience or a lack of street smarts. When you are in a new territory, it is wise to have an excellent guidebook, or be in the company of a trained guide.
In unpatrolled areas, scams and criminals abound. Innocent crypto citizens may be targeted by ‘sharks’ or ‘wolves’ who deliberately prey on the inexperienced investor. Unscrupulous and predatory financiers may set ‘bear traps’ and wait for naïve investors to fall into them, decimating their capital. Optimists can be sucked into ‘bull traps’ and then have the rug pulled. Crypto ‘whales’ can make a fortune by deliberately ‘pumping and dumping’ some smaller altcoins. It’s not just a jungle out there, crypto markets can be an ocean of pirates as well.
For all of its risks, there are still many rewards to be found in Cryptopia. We advocate education as the single best tool in your utility belt, which is why we started Cryllionaire.com to give you the best crypto education for free. Absorb the knowledge and share it with your crypto-curious buddies. Share the knowledge even with your crypto-sceptical friends. They may come around eventually, as mainstream adoption arises and there is a lot to be said for having a unified team who support you.
Batman had Robin, Alfred and Commissioner Jim Gordon. Marvel has its Avengers team. DC has the Justice League. Charles Xavier has a legion of X-men, all with different skills. As you dodge the scams, traps, and bad guys on your way to Cryllionaire status, who is on your superhero team? If your team of ‘super-friends’ looks sparse, build it up now, as you may need additional muscle soon; either to fight evil or to carry future bounty.
We can be heroes: Part 2: Evaluate!
Skills for success include focus and tenacity
Heroes such as Spiderman, Batman or WonderWoman may frequently be seen rushing about the streets clobbering criminals, rescuing kids and saving the treasures, but a lot of their time is initially spent gazing from rooftops. Like the police (costumed counterparts in a different justice league), our mythical heroes spend a great deal of time in the office, on surveillance, or looking over the cityscape to assess the ‘lay of the land’ before swooping in to take action.
Those wishing for legendary hero status in Cryptopia should also spend a lot of time in “macro-vision”, overlooking the broader environment of the economy at large, before slowly zooming in to study a smaller area.
Money-printing by central banks and low interest rates around the world have contributed to perfect conditions for a boom in crypto’s decentralised finance (“DeFi”) projects, such as Celsius, CRO and Binance.
DeFi has taken off because traditional banks face higher inflation, higher costs of business and near-zero or below-zero interest rates. Everything that happens in Cryptopia is affected and influenced by events in the surrounding world.
Before jumping into action, have patience and focus. Be sure you understand the situation and know your exit routes. You can examine the list of evaluated projects on the Cryllionaire.com blog, watch the YouTube channel, join the Bostoncoin puppy pack for safety, or use the “C.O.I.N.” protocol as a guide to choose your own investments if you wish to fly solo.
We can be heroes: Part 3: Execute!
Assemble, Evaluate, and then follow through!
There are millions of ‘armchair experts’ who will claim they knew that a particular stock, crypto, trend or celebrity was going to be big, years ago. So why are they sitting in an armchair talking to you on the internet, instead of standing at the helm of their private yacht?
In the USA, these people are called “Monday morning quarterbacks”, as with the benefit of hindsight, they can always tell what every player on the field was supposed to do, hours or days earlier.
In Australia, inactive experts are often called “gunners”. In the military, a gunner was someone who would shoot the enemy and protect the team, but in an ironic twist, these friendly desk-jockey “gunners” do nothing. They are always speaking about what they were “gonna” do back then, or what they’re “gonna” do next, but never actually take action. Be warned: these types of people will take up a lot of your time and will not help you to complete your heroic quest.
No matter how great your team is, no matter how much macro overview or background research you compile, if you do not take risks and take action, you cannot win. All actions entail risk, whether it be asking your crush to dance, punching a bad guy, buying your first car, buying a home, stock, crypto or adopting a puppy. You can never know the outcome with 100% certainty, so you must decide what level of risk you will accept in return for your reward.
Some people will act when they are 80% sure of the outcome, some may wait for 90% and some may be happy to dive in with just 30% confidence. Whatever your level is, it is ultimately up to your own education, experience and risk tolerance. Use your own brain or your combined team to assess, and then your heart to guide you into action.
We can be heroes: Epilogue
Inspire others to action
Not everyone is fortunate (unfortunate?) enough to be born a mutant, sired by a god, bitten by a radioactive spider, or exposed to gamma rays. Some heroes are normal humans with no special powers, just trying their best, where they are, with what they have. Whilst we cannot all fly faster than a speeding bullet, we can all do our best to act nobly, humbly and heroically, and inspire others to do the same.
As the world rapidly evolves from one dominated by central banks, ATM’s and deposit accounts, to one of smart contracts, DeFi and electronic wallets, you can assist your friends and family by sharing what you know. Even if you think you don’t know it all (Spoiler: nobody does!), you can share even 10% of what you know with those who know less than you, and be considered an expert guide.
For around a year, I asked my local hairdresser every time they cut my hair: “Do you take crypto?” Every time, for ten months in a row, the response was “No, just cash.” Finally, on the eleventh time, the answer came back, “I would like to, but I don’t know how.” Within five minutes, I had showed the hairdresser how to set up a crypto wallet and start accepting funds with significantly less fees than an EFTPOS machine. Know that you can spread financial empowerment, person to person, just as easily as spreading gossip or the common cold. Be a hero in your neighbourhood: inspire others for good.
The further adventures of Bostoncoin
What have we been up to this month?
It was a choppy month in the crypto world, with new all-time highs from major coins, plus a decent sized correction, as a blackout in China and a speech from the US president triggered a fall of almost 20% in bitcoin. This dip was not as large as past crashes, due to institutional buyers and increased mainstream adoption of crypto, and recovery is well under way as we seek new highs.
China is home to a lot of bitcoin miners, so when power went out in a large Chinese region, there was quick panic and a lot of selling. Over the next few days, people realised that bitcoin is a worldwide currency and the internet is everywhere, so China, whilst important, is not crucial.
President Joe Biden announced he would be increasing taxes in the USA, because somehow the government must pay for COVID recovery and all the stimulus cheques. Increasing taxes is not generally well-received news, so there was further panicked selling, until people slowly realised that only the top 0.3% of US citizens would be affected. There has been a collective sigh of relief from 99.7% of the USA and a gentle recovery in crypto investment.
DeFi continues to go from strength to strength, and one of our favourite projects from 2019 has seen a tenfold increase of funds, from around $1 billion to over $10 billion under their wing.
There are of course many new projects, with faster transaction speeds, smart contracts, artificial intelligence, and other technological whizzbangery, but we feel that crypto will be a micro echo of the macro financial world. Tesla can make smart cars and Intel can make clever chips, but their size will not exceed those of the biggest banks and financial institutions. There may be unicorns still out there, but we feel that in crypto as in life, the money-lenders may ultimately be the biggest behemoths.
Winners this month include some coins we have held since 2016, as well as some new favourites:
POWR up 236%
CRO up 257%
IOTA up 304%
RUNE up 399%
BAT up 412%
DOT up 838%
LINK up 2 956%
CEL up 12 213%
Overall, your diversified BostonCoin portfolio is up 35.24% since last month, and has gained 849.92% since this time last year. Yes, Bostoncoin grew by more than what bitcoin has gained for the month and for the year, with additional security and less volatility than the crypto-godfather. You’re welcome! Feel free to tell your friends.
BOS NAV at 30/04/2021
BOS price 236.64555
MOM increase 35.24%
YOY increase 849.92%
(CUE: Sneak preview of a new attraction after the credits have rolled…)
Eagle-eyed observers may have noticed that a logo change has occurred at the official BostonCoin website and on Bostoncoin’s Twitter. It has even been spotted on the Cryllionaire Youtube channel, where we are giving out free bitcoin to new subscribers.
The flagship BostonCoin logo with its yellow sunrays will always stay with us and will remain for existing investors in your crypto wallet. The new logos for new funds will be coming soon.
Whilst Bostoncoin is and will remain a moderate balanced risk portfolio, the new additions to the puppy pack will be a more aggressive fund and a more conservative fund. This gives you the choice of “small, medium or large” when aiming for risk and returns.
The DARTcoin (Digital Asset Risk Targeted) will aim for higher-risk, higher-return strategies and is suitable for investors who have a longer timeframe and are comfortable with more risk to gain more reward.
The POLLYcoin (Primary Outcome Lateral, Low Yield) will aim for price stability and some income. It is suitable for investors with a shorter timeframe who wish to exceed rates of return on cash deposits.
Bostoncoin will always stay, and the new coins will come soon. Contact us for more information if you cannot wait, otherwise stay tuned.
Finally, we salute a true hero, who served with the Allies against German forces in The Great War. “Sergeant Stubby” was named for his stubby tail, and was decorated for bravery under fire, protecting his platoon and saving several civilians from enemy fire and gas attacks. You can search Google for more information, or watch the animated movie, which is mostly historically accurate.
See you next month