B-Day for El Salvador...and Ukraine...and Panama…

• 3 min read
B-Day for El Salvador...and Ukraine...and Panama…

SOMETHING INTERESTING

6-8 years of college and debt OR 1 year of diving deep and 6-7+ figures in crypto? Not saying you should burn the ships and go all-in on crypto, but it’s fascinating nonetheless that this is now the conversation. What a world we live in! (Click here to read.)

THIS WEEK IN CRYPTO

  • Another use for blockchain: financially incentivizing the truth. Crypto-based information markets, like Polymarket, can be used to filter the truth and provide unbiased real-time data about the likely/unlikely outcomes of future events. Sounds crazy, right? Here’s how it works: You build a portfolio based on your forecasts and earn a return if you are right (a place where you get paid in crypto to be right? 1000% Yes.). When you decide to buy shares in a market, you are weighing in with your own knowledge, research, and view of the future. Until the truth is known, the shares trade at their expected probability of happening. These markets, which can be created in real time, are how the blockchain can be used to financially incentivize the truth. Fascinating stuff. Read more here.

  • China’s working hard to outsmart us westerners. The All-in podcast hosts believe China's video game ban is a good move economically (albeit, very communist of them). Strategically, China produced Tik Tok so we can be addicted to it while they focus on educating their youth more in the classroom by limiting their gaming time. If we are going to stay a world leader, we have to wise up as a nation and raise strong, intelligent leaders - starting with our own children. We say teach them tech early - coding, NFT’s (this kid is killing it, and he’s only 12), fiscal history, etc. Listen to more here (31:42).

  • Creatives are swarming to tech, filling out empty offices in New York (it’s about time!). Creatively speaking, engineers and data scientists are making room for 3-D artists, graphic designers, video editors, social media producers, digital artists, and photographers. Demand for creative talent has never been higher. And with the NFT market exploding, there’s room for everyone, especially creatives. Read more here.

  • The rise of startup cities is happening. By taking advantage of emerging technologies like crypto, Startup Cities are going to have their own city-based token (Mind. Blown.). For example, MiamiCoin (MIA) is a new programmable governance token for a real city. It has raised almost $4M for Miami in just 31 days (no pre-mine, or ICO). The more it’s used, the more STX and BTC it generates for the City of Miami and those who Stack MIA in a 30/70 split respectively. Buyers are bullish, sellers are bearish on city leadership (Mayor Suarez). Read more here.

  • This Tuesday was B-day, or Bitcoin-day, for El Salvador. They became the first country in the world to adopt bitcoin as legal tender, allowing Salvadorans to use the cryptocurrency to buy a cup of coffee, get a haircut or even pay taxes and home loans. BIG DEAL for everyone. Ukraine and Panama were quick to follow suit, and Western Union is projected to LOSE $400M in BTC remittances. The Pomp thinks every world leader will be watching to see how this plays out in the weeks and months to come. We couldn’t agree more. Read more here.

  • Crypto will mean equal trading opportunities for everyone. The crypto market is essentially real-time pricing of brand new companies with no roadmap or revenue. This means you’re witnessing VC/seed investments trade as public 24/7 assets. Watch out Wall Street. It also means that people will have the ability to create lightning-quick wealth as they have access to invest in the “first round” of a project that goes vertical within a short period of time, as opposed to the traditional market where only Accredited Investors can participate. The wealth floor is about to rise by A LOT. Read more here.

  • The old guard is trying to catch up. Moody’s Investors Service, one of the world’s largest credit-rating companies, is looking to hire crypto analysts on DeFi, CBDCs, stablecoins, NFTs and other crypto-assets to get to grips with the potential wide-reaching impact of decentralized finance (DeFi) on existing ecosystems. The banks, stock markets, and Fed better buckle their seatbelts. Listen to the convo here. Or read more here.

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