Housekeeping
Daily Ramble
G’Morning! G’Afternoon! Wherever’s you may be, here’s hoping it’s as good a day there as it is here in Sintra, Portugal. I completed my swab-up-the-nose test this morning to board my flight for Miami in two days. I’ve got my fingers crossed it comes back negative, but given the number of false positives from PCR tests, I’ve got a backup plan ready — and enough time — to get a second test done if it doesn’t. I’ve written enough about COVID and Miami to believe you’re as tired of the subjects as me. Instead, I’m going to let you off easy and do a little housekeeping on today’s Ramble.
Over the last couple of months, I’ve spearheaded a local Bitcoin Meetup at our local Coop in Sintra. I’ve mentioned it in scattered comments here and there, but now that it feels like we’ve got a group gelling, I wanted to bring it up again if you’re a local Bitcoiner, and my previous comments fell through the cracks. We’re meeting every other Saturday from 10 AM-12 PM. I’m keeping it limited to the first 20 who RSVP. Seeing as it is the only Bitcoin-focused Meetup in Portugal, I suspect we’ll be getting more Bitcoiners dropping in now that the ball is starting to roll. I was pleasantly surprised to have a developer working on the most exciting project in Bitcoin, Bitcoin Beach, join us at our last Meetup.
Next up: Crypto Tips. I’ve been friends with Toby and Heidi, the protagonists behind Crypto Tips, an excellent YouTube channel on all things crypto, for several years. Toby and Heidi have been in the crypto game a few years longer than I, and although they cover more than Bitcoin, they’ve got people’s best interests in mind and are going to do their best to keep you walking on the straight and narrow in crypto. That’s not an easy task with all the scammers in the space. Bottom-line — I trust them, and you can too.
A few weeks ago, Toby convinced me to share some of my Rambles in video form on their channel. Though nervous about the video exposure, I got over myself and my audio issues and contributed to their channel. So if you like my Bitcoin-related Rambles, know that you’re likely to find them popping up in video form on Crypto Tips before too long. Here’s the latest.
Last housekeeping point: why do I only cover Bitcoin? Because it’s the best place to enter crypto — and where you’ll likely return after your voyage into alternatives, i.e., alts. The crypto space is a massive carnival tent, and most enter seeking speculative gains. No problem there, but if folks skip an understanding of Bitcoin on their way in, they miss the discovery process that comes with asking, “what is money?” And that discovery process inverts most people’s pre-crypto perspective on reality. That makes no sense if you’re new — I’m sorry — but know, going through the gateway of Bitcoin is what leads to hands strong enough to hang onto the bull when it gets going. Once through the Bitcoin door, you’ll have a framework to evaluate crypto projects against. Otherwise, welcome to the crypto hall of mirrors, where 90% leave with empty pockets and resentful heads.
Speaking of empty pockets, I’m heading to Miami on Wednesday for the Bitcoin 2021 conference. If there are a few Corners missing from your inbox this week, that’s the “why?” behind it. I’ll do my best to make sure that doesn’t happen.
Housekeeping check: ✅
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Bitcoin Price Prediction
Weekend: $28k - $40k
Today: $34.2k - $38k
Tomorrow: $34.6k - $40k
Bitcoin’s price action dodged a bullet this weekend. The bears pushed the price down to the range lows at $33.6k on Saturday. But, despite the relatively light volume of weekend trading, they couldn’t break the price action into a zone that triggered another cascading sell-off. Though not out of the woods, the immediate risk of another breakdown has been averted. Today is decidedly more bullish as the price has pushed over $37k and looks to be wanting more. If we can see a daily close over $39k, we stand a good chance that a bottom has been put in. However, if we get a daily close below $33.5k, we stand a good chance for another leg lower. TL;DR, we’re consolidating in a tightening range. The break of either side will lead to our next move.
Bitcoin Q & A
Q: What is your new favorite wallet for the Lightning Network?
A: Muun
Muun is a newer Bitcoin and Lightning Network wallet that I just discovered this weekend. The interface is cleaner and simpler than even the Blue Wallet. For most users, especially first-time users, I can recommend it as the easiest non-custodial solution available on the market. Non-custodial means that you have full control over the private keys controlling your bitcoin.
Thanks for reading,
Kent
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