Welcome to the Flarnchain Newsletter! We are nearing one of the final weeks of year three of this newsletter experiment, and we are almost at the end of phase one (discovery) of the newsletter's "Flarnmap" which is a 12 year plan for newsletter world domination (just kidding).
Back to regularly scheduled programming as promised last week, let's start with a quick market update. The crypto markets suffered a bit in the past couple of weeks. Bitcoin dipped below $40k for the first time in about a month, and the overall crypto markets reversed their multiple week's long trend of increasing in total market capitalization. Crypto market's almost hit $2 trillion a couple weeks ago, but now are around $1.6 trillion, shedding around $300 billion of value in the past couple of weeks.
Sell the news
Many have pointed out that the Bitcoin ETF approval was a sort of "sell the news" event for Bitcoin, and since the rest of the crypto markets essentially follow Bitcoin, "sell the news" means selling Bitcoin, means markets are down.
Grayscale Bitcoin Trust
But really, what are the market dynamics that caused this? I think my primary thesis for Bitcoin decreasing relates to the Grayscale Bitcoin Trust (GBTC) selling off as people cycle out of the high cost Bitcoin trust investment vehicle and into the ETFs approved by the SEC which are much lower cost. Now that people don't have to hold an inferior product. I think this is a transitory phase, and ultimately once the dust settles and the massive selloff of GBTC has completed, Bitcoin's price will stabilize and begin a slow climb - and then a fast climb - to infinity.
Market Animal
This week's market animal is a Bear 🐻. I'm not feeling bearish about crypto, but it wouldn't be fair to say that the last couple of weeks haven't been bearish for crypto. My honest assessment of these market animals is something along these lines:
bear market? probably should be buying
bull market? probably should be selling
I think if that strategy was followed by me over the past 3 years, I would have a lot more money now than I actually have. But that's okay. I'm not trying to time markets.
For those of you who haven't been reading each and every week (like atomic clocks), the four phases are: discovery, implementation, mass adoption, and world domination. That last phase is definitely more tongue-in-cheek, but the basic gist is that each phase, things will change a bit.
The implementation phase is fast approaching, which means that I need to actually start doing real stuff with Flarncoin. Here's the dilemma that I find myself in... I've discovered several avenues to deploy a cryptocurrency. At this point, there are plenty of platforms where it's relatively trivial to deploy a cryptocurrency on existing blockchains. For example, Chihuahua Chain just launched a platform where it takes about 2 minutes to create a cryptocurrency. The thing with Flarncoin is that I want it to be authentic and decentralized, and also I have this BIG IDEA about a sort of ecosystem where coins are deployed on lots of different blockchains and then eventually migrate to the Flarnchain homeworld - the Flarnchain blockchain.
Anyways, that's all kind of a bunch of nonsense if I don't just act and start just rolling with stuff. Here's some stuff:
My preliminary attempt is a concept known as Flarn Cards, which are nft pictures of Flarncoins on the Wax blockchain. The idea is that holding a Flarn Card means that automatically Flarncoins just arrive in your wallet. I like that idea.
My second idea is that readers of the newsletter can make a weekly claim of Flarncoins. There needs to be some sort of proof of readership of newsletter protocol that I need to really think through.
My third idea is that any of my nft collections, which include Proto Towers and in the future Towers, holders of these nfts can claim Flarncoins.
The fourth idea is that deployment of the Flarnchain blockchain will involve some sort of inflationary system similar to a lot of other blockchains where inflation decreases in regular intervals.
All of these different Flarncoin deployment mechanisms would possibly mean that there's different types of Flarncoins floating about the cryptoverse, so there would need to be some sort of way to convert Flarncoins from one type to the other, to normalize Flarncoins and make them freely exchangable for other cryptocurrencies. I honestly feel like I'm still in the middle of the discovery phase with all of this, and it causes my brain to spin.
So anyways, if you read all that, my main point is that... i'm still not ready to deploy Flarncoins. The implementation phase is three whole years and it hasn't started yet. So I still have some time, but not much!
I'm still doing this. HUAHUA is the ticker for the crypto currency Chihuahua on the blockchain Chihuahua Chain. I started buying HUAHUAs about 7 weeks ago, and I continue to buy them with some of my staking rewards each and every week. I currently have purchased around 700k HUAHUAs during this experiment, and I anticipate that by the end of 52 weeks I will have purchased several million of them.
By the time this experiment is over, the Bitcoin halving will have occurred. If Bitcoin and crypto markets follow historically what happens, then the halving will have kicked off a major bull market, and smaller cap coins (that catch a bid or some sort of narrative) tend to increase by many multiples of the increase of Bitcoin. I'm picking a few smaller cap coins, and Chihuahua is the big one I'm going to track on a weekly basis.
Since I'm writing his on my laptop, I don't have my tracking spreadsheet in front of me right now, but next week I'll share some data about this experiment and how it's going. Long story short... we are at week 8 and my prediction is that some time around week 20 or 30 things will start to get very interesting. Time will tell.
My nft collection of pixellated towers is still going strong. I designed some interesting implementations of the concept of an "xnft" or "extensible nft" where you can control a pixel on the screen directly on the nft. If you are on mobile, you can tap the right or left side of the screen to move a blue pixel. If you are on a laptop or pc, you can use the left and right arrows to move the pixel. I am pretty proud of this implementation, and I'm excited to continue to iterate on this concept. You can check out proto tower 300 to see it in action:
https://www.stargaze.zone/m/proto-towers/300
Seriously, I encourage you to check out the link here: https://www.stargaze.zone/m/proto-towers/300 and see how it works. I'm super proud of the implementation. I had to learn a lot of stuff, like general xnft implementation concepts, collision maps, and some css+csv scaling issues to match the pixel size to the background image so everything syncs up.
I anticipate future proto towers where instead of a pixel, it's a little person. And the person could discover little treasures at the top of towers, or the bottom of a dungeon. There's a lot of ways to turn these little nfts into fun games. I'm very excited.
Okay, that's about it for tonight. If you read this whole thing, thank you so much from the bottom of my heart! Even if you don't have time to read the entire newsletter, if you just opened it and looked a couple of the pictures, that's awesome too!
Feel free to share this with your friends as well.
Thanks for reading and hope you have a wonderful rest of your week!
Cheers!
-flarn
🤘🤘🤘🤘
flarnrules
