Friday Finance 4/22/2022: Are you a crypto boomer?
It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.
Looks like it was another crazy week in the land of crypto. Can you imagine a time when we can't say that? It's going to happen one day and it is probably coming sooner than we think. Right now though, it is hard to wrap your head around a time when crypto will be a mainstream part of daily life like the Internet or cell phones.
There is so much going on in the crypto world that new articles are coming out pretty much every hour if not minute. I try to focus on the stuff that grabs my attention or speaks to me. It might not be the same material that speaks to you and you know what, that is cool. No worries.
This week I honestly can't remember seeing too much that stood out to me, so I am going to mostly cover some of the stuff that is near and dear to all of us.
PolyCub Governance
I am not going to dig into the details of this too much. You have all probably seen the many posts that have been written since this announcement came out.
The key focus right now is testing the system and adjusting the time lock piece of harvested PolyCub. The options are leave it at 90 days, 30 days, or 15 days. So far it looks like the 15 day option is winning. Personally, I voted for 30 days. I feel like 90 days is much too long especially in the world of crypto.
Fifteen just seems to short to me. Based on the number of people who seem to be supporting that option, it has me thinking that many of them may have not taken the penalty on their harvests like the rest of us did and moved that into xPolyCub. That has me a little concerned that we are going to see a big dump of PolyCub on the market if this 15 day thing passes.
I have little doubt we will recover from it, all I am saying is just be ready for the price of PolyCub to take a dip and if you want to buy more at the discounted price, have some seed money ready.
HBD and PolyCub
Now that I hit my savings goal with my HBD, I was thinking about moving any future holdings into the PHBD/USDC farm on PolyCub. After reading a really great post by @taskmaster4450le the other day, I decided that I am going to just keep moving my HBD rewards into the savings account. I am getting to the age where I need to start focusing on some less risky investments. I have plenty of that risky stuff in other areas. Right now I want something I can count on for a guaranteed and steady return.
I'm not saying I won't invest in the PHBD/USDC farm some day, but when I do, it will be with money from outside of the blockchain. I am just waiting for some of those consecutive green days and I will likely move some other funds into the farm.
Are Stablecoins the new DeFi?
Looking back a year ago the hot thing was NFTs, DeFi was around, but it as mostly on the ETH side of things and therefore not as accessible to the masses. Then some of the other chains started popping up with greatly reduced transaction fees and DeFi became the hot new thing.
Here we are a year later and while NFTs and DeFi are still crushing it, the one thing that keeps popping up in my news feeds are stable coins. It is really starting to feel like stable coins are the hot "new" thing right now.
I saw an article the other day that the famous usurper that we all know and love is going to launch his own stable coin called USDD. It will be an algorithmic stable coin backed by TRX. I don't know about you, but those last two sentences alone should be enough to tell you that you need to run away from this thing as quickly as possible.
Apparently the goal is to be like Terra's UST, but I honestly don't have a single "F" to give about this stable coin. It is news though, so I figured I should share it with you.
Are you an early adopter?
Probably the one headline that stuck out to me the most this past week had less to do with a specific crypto currency and more to do with the space as a whole.
Basically it said something to the effect of "Now is the time to be an early adopter of crypto". Of course that got me thinking, if now is the time to be an early adopter, what the heck have I been doing for the past four years?
Pretty crazy to think about right? If people who are getting involved right now are considered early adopters, we must be the boomers of the crypto timeline. It makes me think back to the start of my career in public education:
By the time I started working in the schools most districts had some form of network and computers were pretty common in the classrooms. Not long before that though, it was kind of the wild west in terms of technology in schools. People were spending time on weekends running their own fiber or CAT3/CAT5 wiring to get their computers connected. IT departments didn't exist, it was just a person with an interest in technology learning how to set up token ring over the weekend.
I kind of feel like that is where we are right now with crypto. I know the wild west analogy gets over used, so let's just say, we are still in the learning phase, the discovery or enlightenment phase. This is where the foundation is being laid for everything that will come next.
And we are part of it! Learning as we go! Failing, trying again, never giving up because we believe in the potential of cryptocurrency.
It's a pretty cool feeling to be an "early" early adopter huh?
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