Epic Memecoin Battle, Savings Account Scam, and BFT Girlfriends
I try really hard not to sound like a broken record on this show or keep talking about the same things – but last night things went nuts. Shiba Inu continued to climb and unseated Dogecoin as the 10th largest coin based on market cap.
At one point Shiba Inu was in 7th place, and Dogecoin fell to 11th.
Then we saw a little bit of a sell-off on Shib, with a comeback from Doge – where Doge went to 8 and Shiba down to 10.
It almost appeared as if people sold their Shib and bought Doge – but then Shiba had a strong come back. Both coins are up – but as of this recording, Shiba Inu is #8 and Doge is #10 – while Polkadot has been in the middle watching this whole time.
It’s sort of felt like some Memecoin battle happening and we’re still not through it yet.
Any crypto investor’s dream is to put in a little bit of money and get a huge reward – It’s something that with Bitcoin happened to people who were loyal for years. Now it feels like it’s happening faster and fastener.
One anonymous investor purchased around $8,000.00 worth of Shib roughly a year ago totaling over 70 trillion coins. With this bull run, it has caused their investment to be worth around $6 billion.
Hopefully, that wallet continues to hold. A sell-off that big would be damaging to the rest of us.
One thing about supporters of Shiba Inu, which some have dubbed the Shib Army, is that they are quite dedicated to holding – with an end goal of $1 per coin.
I wanted to discuss one way people can benefit from holding coins without just sitting on them – which is staking.
On certain platforms, you can take your coins and agree to term lengths for an annual percentage. For example, back in June, I made the investment to get into Shib.
I purchased hundreds of millions of the coins, and instead of just sitting on it I handed it over to my platform in exchange for an annual rate of 5.5%. I agreed to three-month terms, as opposed to one or two months, because the longer you agree to the higher percentage you get back.
The platforms typically pay out the percentage to your wallet weekly. So while the majority of my coins are locked up – I’m receiving hundreds of thousands of new coins each week. At the time I started investing in Shib, really only meant a fraction of a penny each week.
But, if it were to end up hitting one dollar per coin – the payout would be huge. I don’t expect a dollar, but even a penny would be substantial.
I do want to note, again, that Shiba is one of the few coins working on a marketplace to actually serve a function to society and a lot of burns coming. But more on that later.
I stake all of my coins. Bitcoin, Ethereum, Polkadot, Cardano, and anything else I have. I always find a platform that will take them.
The reason is twofold. First of all, I strongly believe in holding all of these coins for long-term growth. Crypto isn’t going anywhere anytime soon. The more people who stake, the less supply that’s available, which means less day traders there are and less volatility we will see.
Also by getting more coins back than I put in, I am decreasing the supply available to the public. And since I hold, that means I’m increasing the amount of demand for the coins and raising the price for all of us.
In my time investing in Crypto, I have yet to actually lose money. Even in the big sell-off over summer I kept my cool, kept holding and staking, and made it through with more than before.
So, I highly suggest to all of you to stake. It’s good for the community – and some markets can offer as much as 15% annually for certain coins.
I’ve said it before and I’ll say it again – the worst thing I believe anyone can do is put their money into savings accounts.
Right now the average percentage for savings accounts in the US is .006%. Inflation averages what, 3%? So you are guaranteed to lose by doing that.
And again, all that the banks are doing is taking your money – giving it to other people to use, and keeping all of the money.
The reason you are only allowed to withdraw from a savings account a few times a month is to ensure that there is enough money to cover the loans banks are handing out.
For example, let’s say a bank takes a million dollars from people’s accounts to give as loans. Typically for credit cards, but of course there are many other lines of credit out there like mortgages or car loans.
But let’s say the million went to credit card loans. The national average APR on credit cards is 16%. So the banks are making $160,000 a year on your money. Then they give you back $60. That’s a profit of 159,940 they are making by using your money.
That’s the reason DeFinance is such a big deal. It allows us all the chance to loan each other money and keep the majority of the profits.
That’s also the reason a lot of big bank heads like Jamie Dimon try to villainize Bitcoin. They know their time is up.
Anyway, the rant is over I promise to have more hard facts tomorrow – but I wanted to go into a deep dive of why you should be staking crypto.
Now let’s turn our focus over to the world of NFTs with a lighter note.
If you don’t want to use your crypto to stake, then you can use it to buy an NFT Girlfriend. Digital artist Kris K has created a series of NFTs titles Bull Girlfriends.
Each of the NFTs is a unique design, with some being modeled after real people like Lindsay Lohan, and others are made by combining features of other people to make a unique piece of art.
Currently, the least expensive Bull Girlfriend is worth around $27,000. Still probably cheaper than a real girlfriend.
So far, people have spent over million dollars on her collection.
But if the drawing of a woman isn’t enough for you, and you want something more realistic – There’s will soon be a new type of NFT you can buy that uses artificial intelligence to create a girlfriend.
The project is called Aiko and is built on the Solano blockchain.
Each NFT is a computer-generated piece of art in the style of a female anime character. Each NFT is a layered file, allowing for it to animate her different moods and allow for clothing to stay on or be removed. Some Aiko might come with tattoos or piercings, while others may not.
Aiko is, I think needless to say, only available to people over the age of 18 and has been promised to fulfill your intimate desires.
So, there’s that.
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Resources:
Someone’s Purchase of $8,000 USD Worth of Shiba Inu Coin Last Year Now Worth $6 Billion USD
People Have Spent More than $1 Million on NFT ‘Girlfriends’
AI Girlfriends Are Coming (In the Form of Sexualized Anime NFTs)
