flarnrules
Over 300 subscribers
Welcome back to the Flarnchain newsletter, brought to your inbox each and every week like an atomic clock. I'm on the road this week and don't have access to my main computer with all of my resources, so this one might be a bit more free wheeling than previous ones... who am I kidding, most of them are pretty free wheelin'.
Anyways, here's some crypto news off the top of my head.
Bitcoin broke through the psychological barrier of $50k this week, which brings it one step closer to it's all time high from November 2021 of $69k.
Week two of the Crypto Open Patent Alliance (COPA) versus Craig Wright lawsuit is underway. For those of you who don't know or didn't read last week, Craig Wright is a conman who has claimed to be Satoshi Nakamoto (the person or group who created Bitcoin), and has been using this claim to sue and harass open source Bitcoin developers for years. So far it has just been COPA lawyers grilling Craig Wright on his countless forgeries submitted as evidence that he is Satoshi, and Craig Wright lying on the stand countless numbers of times. This week has been interesting, because the COPA lawyers have been asking Craig basic questions about software development, and he has basically been unable to answer questions that even I, as a very junior and inexperienced student in the field, could have easily answered. The most absurd was a question about unsigned integers, which in computer science it just means a number that is always positive. Craig Wright was not able to answer this question, because he does not know anything about programming.
Developers of the Cosmos Hub, native coin $ATOM, proposed an idea to use Bitcoin as a form of security for the entire Cosmos Network, which is an interesting concept. I don't quite understand the mechanism for how this would work, or how it would cause value to accrue to $ATOM, but I'm interested in reading more about the theory and practical implementation of this sort of thing.
Alright, enough of "the news" let's talk a bit more about the markets.
The markets are up this week, and two big milestones were hit:
First, the most obvious one, Bitcoin broke above $50k on his journey to a new all time high. As we approach the next Bitcoin halving, slated to occur in April, it will be very interesting to see if people front-run the halving and Bitcoin goes parabolic prior to the halving, or if the supply shock caused by the halving initiates a big parabolic run. In previous halving in 2012, 2016 and 2020, it looks like the parabolic "blow off top" market pump happened after the halving. Maybe people are catching on to the Bitcoin design philosophy in larger numbers, pushing the timing back. Time will tell.
Next, the overall crypto market (of which Bitcoin makes up about 50%) broke through $2 trillion in market capitalization. That's significant because the peak of the last bull market was around $3 trillion, so to hit prior peak there's still around $1 trillion worth of value to be gained. This, in my opinion, is a signal that we are still in the foothills of a bull market, we are in the "hope" stage. We have several more stages before the "mania" stage when people start putting lazer eyes in their profile pictures. My strategy will be to start selling some of my crypto-assets when people start doing lazer eyes again.
Based on the above, it's probably fairly easy to assume what this week's market animal is going to be. A BULL of course (🐂🐂🐂). That's three bull weeks in a row! Since I'm sitting here on my laptop with last week's bull drawing right in front of me, I'm going to take the easy way out and modify it a bit. Just like last week, if you can explain what changed, I'll send you something special. Last week reader MadCatAttack quickly responded with the correct answer... I don't know if I sent him his prize. Lemme know in the comments if I made good on that promise.
Let's now talk about some other stuff!
I don't actually know if I purchased any Huahua last week. Not because I was actively not trying to, but more just because I've been incredibly preoccupied trying to figure out some scaling issues with a javascript application in one of the Proto Towers nfts I've been working on. That said, I did purchase 55k Huahua tonight with a spare ATOM I had floating around on osmosis.zone. I'll update my charts when I get around to it. I think this is week 12 or something. Hopefully things start getting interesting soon, because the Huahua chart has been looking kind of sad lately:
The way to read this chart is you can see the little number on the y-axis, there's 3s and 2s. That represents how many zeros. So that first number is $0.0002, and the top number is $0.0012. The initial spike for Huahua, which happened around December 15 has levelled off and really hasn't done much. My theory, is that once people start cashing in their Bitcoin and Ethereum gains, they will save some of that money to ape into meme coins.
They won't want to buy stuff like Doge, because that's already got a massive market cap, so they will hunt for smaller and smaller coins to invest in. Huahua, being an entire "Memechain" with a full smart contract platform for people to deploy more memecoins seems like a good fit for that sort of narrative.
This is a sort of... peak mania phase play. It's a small portion of my portfolio, but if it plays out according to my theory, my gradual weekly purchases of $5-$10 of Huahua during these early weeks of the bull market could turn into $100s or even $1,000s. If it doesn't... that's okay! It's just a little bit per week. I'm willing to take that risk.
I'm collaborating with these artists from a collection / crypto community called Signal (really cool, check it out here: https://www.stargaze.zone/m/silverrecord/tokens
This is just one of their collections, they have a whole bunch of exploratory pieces about ancient, forgotten places that make you feel like you are sort of on an interstellar voyage of discovery. I love it. So, when they asked me if I wanted to collaborate with them to help amplify their reach regarding an upcoming collection called "Nature" I was pumped.
I'm using their "The Silver Record" collection as inspiration to design 12 different Proto Towers that are interactive, and will form a large puzzle to be solved. I'm sooooo close to figuring out the programming aspect of making these NFTs a lot of fun and interactive, but I am stumped by a scaling problem. See, I designed a little person in a space suit (called "The Voyager") who you can move around the screen with the arrow keys. The problem is that the 6x6 pixel Voyager is not scaling correctly on the 768x768 pixel background because everything needs to be converted into Vewport units, or something like that, and I keep messing something up. Anyways, way too much information probably for you readers to care. Instead, I'll just share a sneak peek at the first of 12 pieces:
Once the spacecraft lands, the little orange dot (representing "The Voyager") can be controlled by a user. You will move the character from the spacecraft, down the ladder, into the megalith, and then there will be a scene change where you interact with some other stuff once inside.
I have to admit, it made sense and seemed easy when I came up with the idea, but now that I'm trying to implement it, I'm realizing that my lack of front-end developer skills is really starting to shine. I knew I should have finished the Odin Project last year when I still had time. My reliance on Chat GPT to write a lot of the boilerplate code for some of my previous projects is also coming back to bite me, because I didn't develop the necessary skills to easily manage these bigger / more complex projects. This was a good lesson in humility for sure.
I hope I can figure out this scaling issue, because I still have a lot of art to create for this project. Fingers crossed. .
Alright that's enough for tonight! Hope you enjoyed the sneak peek, and hope you enjoy the rest of your week. Best wishes to you and yours on valentine's day too 💖.
My heart goes out to my lovely wife and kid tonight 💖💖.
Until next week.
Cheers!
-Flarn
🤘🤘
