From the Desk of the CEO

I wanted to post a quick update on how things are going in the cryptoverse.

Fake News and FUD: We live in an extremely automated age where "bots" are combing the internet for any possible tidbits of news that could be viewed as negative. In the cryptocurrency trading world some bots are programmed to perform trades off of this news and those trades drive the market. Bitcoin takes a nice volatility dip for several reasons (negative news, celebrities Tweeting about what they are doing with the coin (thanks Musky), stock market moves, gold moves, interest rates get moved, the dollar (DXY) moves, a country announces it is making Bitcoin legal tender, on and on). I know it is hard but you cannot be an emotional investor or trader. Patience is key and you must be willing to learn from your mistakes.

Mining: Crypto mining has been getting more difficult lately. The increase in Ethereum difficulty and price drop has discouraged some people from entering the space. Die hard miners will just migrate to another coin, if profitability statistics change. A more critical note is the migration of Bitcoin miners from China to other countries (Kazakhstan, the U.S., etc.). The less control China has over news, mining equipment manufacturing, and their contributions to crypto, the better. After all, the main idea behind cyrypto is de-centralization! Have you done your annual mining equipment maintenance yet? With triple digit temps in the US, highly recommend it!

Investing: I noticed this week that some crypto currency sites/exchanges interest rates dropped for staking some currencies (Coinbase, BlockFi). Be sure to check their latest interest rates. Still better than any bank out there. As always, never invest more than you are wiling to lose!

Wishing everyone an awesome Summer. Be safe!

- Rich Ackerman