Posted 7 months ago | by Catoshi Nakamoto
Like Bitcoin in 2013, the DeFi summer of 2020, and the NFT explosion in 2021, a new era for crypto has been painted onto the canvas and it already has the gains to show for it: The Metaverse. By the end of Halloween night, many coins involved with the Metaverse experienced paranormal gains in response to the beginning of Facebooks final chapter. MANA, BLOK, SAND and ENJ to name a few, all underwent some face melting gains as a direct result of Zuckerburg’s announcement of META. It’s clear and obvious that the next big winners in crypto will be the coins that front run the inevitable transition to the Meta-Future of society. Within days of the announcement of META, Vitalik Buterin quickly rolled out his proposal for “Crypto Cities”. This illustrates that: when the world wants to paint a picture of what the future will look like, Ethereum already has a brush in its hand. This Meta-Future won’t happen overnight, but every masterpiece starts with a single stroke.Read More
Lets get it!
Welcome to BitBoy Crypto. Home of the Bitsquad, the largest crypto community in all of the interwebs. My name is Ben. Every day on this channel I show YOU how to MAKE MONEY in Crypto. If you like money and crypto then make sure to hit that subscribe button. In this video we will discuss recent news and updates surrounding Ethereum, Raoul Paul’s bullish ETH position, and how ETH the front running the Metaverse may be a catalyst for the most bullish Q4 in history.
With most of 2021 in the rear view mirror, the anticipation for the final two monthly candles of the year is at the forefront of everyone’s minds. (Remember remember No Short November.) Historically, November has been a bullish month for crypto. Now, the stage for price discovery is set since Ethereum surpassed its previous all time high and is now entering unchartered territory. October ended with a BANG with Metaverse coins going on a complete tear in light of the Facebook Meta news. The Metaverse hype has been rapidly filling the headlines across the largest news outlets in the space and now the industry is wondering, “who is going to make a move to front-run the Meta momentum?” To answer that question, within the first ninety minutes of November, Ethereum’s founder Vitalik Buterin put out a tweet that says “Crypto Cities!” Attached to the tweet is a link that contains his proposal for how cities could integrate blockchain technologies with existing structures to promote a more efficient future. His proposal is full to the brim with several practical, pragmatic ideas on how to approach building a better tomorrow. It is definitely worth your time to read Vitalik’s proposal in its entirety, but we’ll cover the broad strokes. Firstly, he points out, “Another interesting trend of the last year has been the rapid mainstreaming of crypto ideas such as coins, non-fungible tokens and decentralized autonomous organizations (DAOs). So what would happen if we combine the two trends together? Does it make sense to have a city with a coin, an NFT, a DAO, some record-keeping on-chain for anti-corruption, or even all four?”
He goes on to site several ideas, such as citycoins.co, Miami Coin and CityDAO, that have already started to experiment with the integration of blockchain into pre-existing infrastructures. He then goes on to elaborate on how these ideas could be improved upon. Vitalik points out that many governments are inefficient and slow moving and that many outside-the-box political ideas are often terrifying. It’s important that these smart cities start at the local level to actually help the general population; this can’t become a vehicle for the government to have more control than they already do. This has to be in the best interest of the people, not a set up for season 6 of Black Mirror. He said, “For every idea that can be reasonably described as freedom-expanding or democratic, there are then (ideas) that are just different forms of centralized control and walls and universal surveillance.” It’s important, when experimenting with these futuristic ideas, that it’s done in a way that not only gives the citizens an incentive to participate, but also prioritizes the needs of the community, rather than amplifying the control of the governing body. He goes on to say that there are two distinct categories of blockchain ideas that would make sense (in terms of practical application.)
1: Using blockchains to create more trusted, transparent and verifiable versions of existing processes.
2: Using blockchains to implement new and experimental forms of ownership for land and other scarce assets, as well as a new and experimental forms of democratic governance.
Other practical applications for existing processes that blockchains could drastically improve include: keeping track of taxes, payrolls, fair number generators (like for the lottery), certificates, asset registries and even voting. To some these may seem like radical ideas, but in all honesty, for us to progress as a society, being able to verify transactions on the blockchain is the next logical step forward for the world to be a more trusted and transparent place to be. It’s only a matter of time until the ideas like “Miami Coin” prove themselves to be efficient; slowly but surely, these “smart cities” will spread out throughout the states, and the screenshot of mass adoption, will become a mural in a museum. Ethereum is first in line to front run this Meta-future and saying I’m excited to see how far this goes in the next ten years, would be a serious understatement.
You might be thinking, “Ben, I don’t care about the distant future, I want to know make gains NOW!” Don’t worry; I got you covered. Just keep in mind; just like how the Metaverse was a catalyst for MANA pumping over 300%, a similar picture is being painted for Ethereum. Currently, ETH is more bullish than ever. Here are some rapid-fire facts: ETH is holding strong above $4,000 dollars. It recently hit a new all time high just a few days ago. There is a supply shock given that only 11% of ETH is available on exchanges. Over 700,000 thousand tokens have been burned since EIP 1559. ETH just had its first week of negative issuance. There are several rumors of an ETH ETF. There is a lack of selling pressure due to the fact that there are billions of ETH staked to support the merge to 2.0. In an ambcrypto.com article by Varuni Trivedi, she points out many similarities between ETH’s chart in 2017 and ETH’s chart now. In November of 2017, she states, “ETH’s price blasted presenting 166% gains as the trend continued till December”. Will history repeat itself? It’s more than possible, and if you don’t believe me, just ask former Goldman Sachs exec, world-renowned macro strategist and friend of the channel, Raoul Pal. Including options, around 85% of his entire portfolio/ asset allocations are solely in Ethereum.
Pal tweeted that he is “irresponsibly long on ETH right now. I now have leverage via calls. This is by far and away the biggest personal position of my entire life by a factor of 10 (or more.)” Raoul is practically All-In on Ethereum. He’s basing this position off of the passionate belief that ETH will hit $15,000 by the end of 2021 and will end up somewhere around $40,000 by the end of the cycle. Would a world-renowned trader, macro investor such as himself publically disclose such a massive position and risk his reputation unless he knew something we all don’t? He discusses this in a recent interview by Real Vision Finance. In the interview, when Raoul was asked where he sees the next macro play coming from, either currencies, bonds, commodities or real estate, he responded, “I’ve been shouting and screaming that the biggest macro trade in all of history is underway; it’s crypto. Macro is crypto. Ethereum is up 500% this year and somebody says, “what’s the macro play?” This IS the macro play whether you like it or not.”
I admire his passion and it’s really hard not to agree with the man here. This opportunity is without a doubt, the macro play. Although I don’t exactly see eye to eye with his timeline, the fact he puts his money where is mouth is, and is willing to risk his reputation on the biggest trade of his life; this is very bullish for Ethereum. One day when we live in the Meta-Future, will you be able to look back and say you were one of the lucky few that got in on Ethereum before $10,000? There is an exponential element to this, and because of that, the opportunities are endless. The question is, how will you paint yourself into the picture? In closing, I completely agree with Raoul Pal when he says, “We’re in the business of investing. When things go exponential, you can make a lot of money. So following these exponential technologies, where their earnings go exponential and their adoption goes exponential…it’s truly a gift of an opportunity. Anyone who’s been involved in the crypto markets in the last two years has seen what exponentially means. AND we haven’t started yet.” He’s got that right.
That’s all I got. Be Blessed. BitBoy Out!