This newsletter is made possible thanks to Mina. Mina is the world’s lightest blockchain-powered by participants using zk-SNARKs to keep the blockchain a fixed size of 22kb. In comparison to Bitcoin’s ledger which is currently 336 gigabytes, you can fit 45 thousand Mina blockchain proofs in the same storage place.22kb is the equivalent of the text message you sent to your mother-in-law wishing her a very Happy Birthday. 22kb is the equivalent of 10 annoying Snapchats you took letting everyone know you finally started traveling again. 22kb is so small, if it were a ship, it’d fit through the Suez Canal while the EverGreen was stuck there.This means without running a massive node, any website, program, or startup can use their blockchain to protect and verify data without the need to run.The ecosystem is growing fast and Mina’s mainnet has just gone live, offering users a platform to build a private gateway between the real world and crypto, visit Mina to find out more.When in doubt, zoom out.It is easy as a trader and investor who is actively watching the market to fixate on short term price action and to apply meaning to every move. As we have seen in the past few days, Bitcoin dropped roughly 20% from the top and people have rushed to offer explanations. China lost power and hash rate dropped. The US Treasury is going after corporations for money laundering. America is investigating Russian wallets. Doge is sucking the volume out of the entire market. A Chinese whale sold 9000 Bitcoin on Binance.The truth is, none of this matters. The immediate price action has little correlation with the long term value of Bitcoin. If you believe that it is a hedge against inflation and Central Bank activity, then the current price is literally irrelevant - you are holding Bitcoin for a time when it becomes essential. If you believe that Bitcoin will reach 6 and 7 figure prices, then a 20% drawdown is also irrelevant - just a bump in the road on the longer path, and a common one at that.There are no fundamental signs that Bitcoin is slowing down when you zoom out - more institutional adoption, more interest as a reserve asset, more mainstream awareness and more ways to gain exposure.Don't get lost in the weeds of short term price action - if you are an investor or believer, it doesn't matter. Accumulate and hold.I will be appearing on "Making Money With Charles Payne" on Fox Business today between 2-3 PM. Check it out!In This Issue:When In Doubt, Zoom OutBitcoin Thoughts And AnalysisCrypto On VenmoDoge DayPutting Bitcoin Dips In PerspectiveThe Truth Behind The Coinbase ListingBinance Smart Chain Station The Wolf Of All Streets Podcast Ft. David HoffmanMy Recommended Platforms And ToolsThis newsletter is always sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.
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The Wolf Den #224 - Zoom Out
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This newsletter is made possible thanks to Mina. Mina is the world’s lightest blockchain-powered by participants using zk-SNARKs to keep the blockchain a fixed size of 22kb. In comparison to Bitcoin’s ledger which is currently 336 gigabytes, you can fit 45 thousand Mina blockchain proofs in the same storage place.22kb is the equivalent of the text message you sent to your mother-in-law wishing her a very Happy Birthday. 22kb is the equivalent of 10 annoying Snapchats you took letting everyone know you finally started traveling again. 22kb is so small, if it were a ship, it’d fit through the Suez Canal while the EverGreen was stuck there.This means without running a massive node, any website, program, or startup can use their blockchain to protect and verify data without the need to run.The ecosystem is growing fast and Mina’s mainnet has just gone live, offering users a platform to build a private gateway between the real world and crypto, visit Mina to find out more.When in doubt, zoom out.It is easy as a trader and investor who is actively watching the market to fixate on short term price action and to apply meaning to every move. As we have seen in the past few days, Bitcoin dropped roughly 20% from the top and people have rushed to offer explanations. China lost power and hash rate dropped. The US Treasury is going after corporations for money laundering. America is investigating Russian wallets. Doge is sucking the volume out of the entire market. A Chinese whale sold 9000 Bitcoin on Binance.The truth is, none of this matters. The immediate price action has little correlation with the long term value of Bitcoin. If you believe that it is a hedge against inflation and Central Bank activity, then the current price is literally irrelevant - you are holding Bitcoin for a time when it becomes essential. If you believe that Bitcoin will reach 6 and 7 figure prices, then a 20% drawdown is also irrelevant - just a bump in the road on the longer path, and a common one at that.There are no fundamental signs that Bitcoin is slowing down when you zoom out - more institutional adoption, more interest as a reserve asset, more mainstream awareness and more ways to gain exposure.Don't get lost in the weeds of short term price action - if you are an investor or believer, it doesn't matter. Accumulate and hold.I will be appearing on "Making Money With Charles Payne" on Fox Business today between 2-3 PM. Check it out!In This Issue:When In Doubt, Zoom OutBitcoin Thoughts And AnalysisCrypto On VenmoDoge DayPutting Bitcoin Dips In PerspectiveThe Truth Behind The Coinbase ListingBinance Smart Chain Station The Wolf Of All Streets Podcast Ft. David HoffmanMy Recommended Platforms And ToolsThis newsletter is always sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.