Not at an all-time low anymore!
This is the first time in several months where I’m actually up a little:
Corrected to smooth out the bump in May:
But still bad
I’ve lost quite a bit of money in terms of my initial investment. Investments everywhere have taken a beating but crypto is particularly bad:
Each currency has lost a lot of value but Avalanche has done particularly poorly. If you have thoughts as to why please share them in the comments:
Will continue to hold
It seems like crypto prices are going to be in this swampy territory for the next ~18 months so I am just going to hold and hope for the best. I still believe web3 is coming and still believe at least 1 of the 5 currencies I hold will be integral to its future, so while there is no reason to celebrate I don’t see a reason to sell either:
Will cancel my Coinbase One subscription
I’m not actively trading and the value of my portfolio is dropped dramatically so I will be cancelling my Coinbase One subscription. This is a weakness in the Coinbase subscription business model– just when they need the money most their customers will be cancelling their subscriptions in droves.
Oddly cheerful marketing emails from Coinbase
Coinbase keeps sending me these cheerful marketing emails. I’m losing money. You’re losing money. Pretending like we’re not all losing money doesn’t help. I just want to forget that I have crypto for the next 18 months and Coinbase keeps refreshing my memory. Example subject/body:
Articles about crypto in the media
NPR
Actual headline: Cryptocurrency tech is vulnerable to tampering, a DARPA analysis finds
Better headline: DARPA Uses Ex-girlfriend Tactics to Show That Some People Have More Crypto Than Other People
I don’t understand why DARPA, who is literally DARPA, isn’t using something more sophisticated for their research other than “searches for your username on other sites.”
I read the actual paper and while the ex-girlfriend research tactics aren’t groundbreaking the analysis itself is more sophisticated. The NPR article doesn’t do the paper justice, which I suppose is the norm for most science reporting. I empathize with how difficult it is for regular reporters to cover crypto with any sort of technical rigor– I think it’s time to hire experts for this beat.
NYTimes
You know what’s easier than writing articles about crypto technology? Writing articles about culture wars within crypto firms!