Cryptocurrency's downward trend, cat-sitting, and the SALT Project.
We are witnessing the continued downward trend in the price of cryptocurrency. When we filmed this video, it was bad but in the few days since the entire market capitalization has slipped below the $200 billion mark. While I don’t think this is permanent, and it in no way dents my enthusiasm for blockchain, I am finding this continued downward trend frustrating. There are different reasons quoted – some say it is still the silly season, others that the ICOs managed over the summer are all pumping and dumping. I am not so sure of the latter reason as it appears to me that many ICOs are going very slowly at the moment with nothing to dump.
This week also finds me mostly in Dublin where I am cat sitting for my brother and his wife. The cat in question, Vinny, is a big softie but I am not over fond of felines – for all his gentleness. However, I must confess to drawing a hard line when it comes to sleeping arrangements. Vinny is not getting into my bed. This involves me locking my bedroom door at night as otherwise the door can be pushed open as Vinny is also the size of a small bear and equally as strong.
The crypto week was interesting enough. We touched on the price. We touched on the crossover between crypto and fiat. We like the SALT project that allows people to borrow using their crypto as collateral. That way you can still HODL but borrow against the value. Not sure I’d like to borrow this weather with the price of coins so low. Having said that, we both like SALT which is now in 35 US states, has lent $50million and has 70,000 customers. That is good also for people who maybe cannot access traditional finance. People like me – I am only out of bankruptcy two years and have as yet to get my income sorted – I am working on it but I will need about five years of earnings behind me to get a loan of any kind. So that will make me 58 before I can get a mortgage. Hmmmph.
News about Bitmain is also interesting as it goes for the first crypto IPO. It currently has revenues of $2.5 billion and is the world’s biggest crypto conglomerate. The IPO offering values the company at $18 billion.
Anyway, check out our weekly video. For the cat lovers among you, I am putting Vinny’s picture to this story. I suppose he is helping me work harder. If I stop on my laptop and go and watch the telly, then he will want to sit on my lap. As a result, I am still working (time check 21:50) but even as I write he just jumped up behind me and is currently meowing. Why do cats know when people are not quite comfortable with them? He has now jumped from the chair to my laptop and I just had to remove him to the ground ….
I will for cat lovers amongst you say I am feeding and caring for Vinny. It is just that cats frighten me – even the big softie that is Vinny. He is now sitting on the ground and giving me the evil eye. Unlike my daughters’ cat who would most probably attack me (Tigger is pretty feral), Vinny won’t. But he is not pleased. I can tell. Oops he is up on the laptop and table again. I may have to hide in the airing cupboard.
Till next week and may the gods be with you.