"A touch blue, a stroke of black, my hands caress the canvas like a lover. Words fail to conceptualize the exotic taste of colors."
I start this post with a heavy heart. My cousin Jacob died a few days ago. He was only thirty-two years old. It was one year ago that we buried his older brother Andrew. I had a super weird dream about his brother after he passed. As much as I love my cuzo... (rest in power) I do not want a repeat of that experience. This tragedy of youth is a microcosm of the craziness going on in the world. Its not all bad... but things definitely need to change.
Let's start with crypto. If u haven't been keeping track Gemini exchange may be the next crypto company to go insolvent. To date, there's Celsius, Voyager, 3AC (3 Arrows Capital), BlockFi, Alameda Research, FTX, and now Gemini which is owned by Genesis Global. These were all major players in crypto lending and trading. This cascading domino effect of falling kingdoms isn't only because of mismanagement of assets. There's strong evidence that many of the companies were sabotaged in a power grab to control the crypto industry. Back in May there were rumors that Celsius was the victim of a bank run targeted attack. As unbelievable as it may sound. It's the truth. Understand. I'm not disregarding the misappropriation of creditor assets, or the deceptive lies that were fed to us as the owners secretly withdrew there funds. What I am saying is the impetus of that debacle and the fall of several other companies listed above can be traced back to one specific competitor.
FTX exchange was owned by SBF (Sam Bankman-Fried). In the crypto space he is considered a very bad man. His attempt to destroy DeFi and enforce institutionalized control over the crypto industry with government support backfired. FTX exchange was a subsidiary of Alameda Research group. Through nefarious means those two companies are accused of industrial sabotage, fraud, theft and a list of other felonies that would get a commoner like myself thrown under a prison. How did they do it? According to information that's been made public by companies who have been a victim of FTX coming forward. FTX would require that new companies working with them had to provide the backend coding to their crypto coin. Then SBF used sophisticated programming to make clones of their coins. After, FTX would take massive high leverage short futures trades, then dump the synthetic coins on the market. This not only destroyed all their competitors, it also made SBF and his partners filthy rich.
If it wasn't for the fact that FTX burned half the crypto industry and stole money from so many people they might've gotten away with it. I wont get to deep into the story because BitBoy has been giving thorough coverage of the whole situation. In the latest development BitBoy traveled to the Bahamas (where SBF lives) and met with Bahamian politicians in attempt to get SBF arrested. Although he hasn't been arrested yet the DOJ (Department of Justice) has begun an investigation into FTX and Alameda. SBF and his family have serious connections in politics and media. The chances of them doing time is slim at best. In my opinion SBF will get off free and some low level minion is going to end up doing a few years in prison. Not to sound pessimistic, but the reality is for him to go to prison the DOJ would need incontrovertible proof that SBF is guilty. Even that may not be enough because money is power in politics. Meaning, if they can afford to pay the bill then there's no need for jail time.
Some people say this is a good thing for crypto. That all these platforms are getting destroyed like a wrecking ball through a building. They consider it weeding out the bad apples. Others feel like these falling kingdoms are fuel for the media to portray crypto negatively to the mainstream. Here's my opinion. Regardless of how bad the media talks about crypto. When the next halving comes in 2024 the narrative will switch. (facts) The crypto industry has died a thousand times in media. It has more lives than a cat. To be honest this prolonged bear market has shown more mainstream adoption than any previous market cycle. All the innovation happens during the bear market. That's how I know the gains in the next bull market are going to be bonkers!
Now that we're talking about the next bull market let me give u my two cents. The bottom is not in. Again this is just my opinion. The bottom for me will not be in until eth falls below one thousand. To be completely honest I believe it will fall below eight hundred. The eight hundred is speculative, but I'm certain of the one thousand. If I'm wrong and I miss the bottom. I'm okay with that. For me its always better to be a little late to the party than too early. (not investment advice) When the price was at 17k people were saying the bottom is in. You had big brains with charts, pointing fingers at lines, detailing why the bottom was in at 17k. I was constantly hearing social media figures saying dca (dollar cost average) now. The bottom is in. You don't want to miss it. Then btc dropped to 15k...oops. That wasn't supposed to happen. People lost money. Those same big brains got back on social media sounding like Urkel from Family Matters. "Did I do that?"
Once btc bounced off 15k the same narrative is being pushed with more enthusiasm. I have nothing against these people giving their analysis. When I look at the charts it also looks like the bottom could be in. It's the right time, the market has been in the red for a prolonged period. Plus a 15k btc when the top was at 69k is a steal. Hey, it all adds up. Except when u look at the macro economics, Tradfi (traditional finance), and geopolitical climate. It totally doesn't add up. I'm looking at how prolonged this bear market has been and how close we are to reaching that eighty-five percent drop. So far its been around seventy-five percent. It feels like there's going to be some fake out price pump short term relief rally coming. Then the real drop is going to happen. I'm waiting for that drop. That drop would give the charts symmetry. They say history doesn't repeat itself but it does rhyme. If that's the case eth will fall below a thousand one more time.
Speaking of rhymes. The Hip-Hop community has lost some gifted and revered artists this year. As a student of the culture watching the predatory practices happening to rappers is disturbing. I was a fan of all these brothas music and can say they will be truly missed. From the old school we lost DJ KaySlay and Coolio. I remember hearing my first KaySlay mixtape "The StreetSweeper vol 1. I knew then he was going to give DJ Clue and Tony Touch a run for their money. He brought that fearless attitude he used to put into graff art, to the turntables. He was a dope dj who helped launch a lot of artists music careers. Coolio was a west coast legend. He is one of the few rappers who crossed over to mainstream and was able to maintain his stardom for a lengthy career. He passed from natural causes due to a heart attack. From the new school PnB Rock and TakeOff from the group Migos. I liked both these guys tunes. It's a tragedy that they both were victims of gun violence. These are young men in the height of their careers. Like I said in the beginning of the blog. Things definitely need to change. May they all rest in power.
The world isn't all doom and gloom. Matter of fact...it could be a lot brighter real soon. Researchers at MIT have been experimenting on how to make bioluminescent plants since 2017. The first generation of plants used cells from creatures like the jellyfish and fireflies. Scientists would combine these bioluminescent cells with plants to make glow in the dark plants. The research was highly successful. Now they have a second generation. This new generation of bioluminescent plants utilizes specialized nanoparticles embedded into the plants leaves. These particles allow the plant to absorb light, store it, and slowly release it later. The new plants are charged by an led light for a few minutes. Then the length of glowing time and the amount of brightness generated is measured. The goal is to have a world with plant based lighting. The trees and bushes will use the sun for a charge. When the sunsets the plants will slowly release the charge and glow throughout the night. This will eliminate the need for street lights, reduce electrical costs and pollution. Of course using renewable energy from living plants is going to be met with radical opposition. But if enough traction gets behind this research it could bring society one step closer to running on green energy.
What do I say to people who think I'm too old to be making music. Nothing. Let me let u in on a secret. The people u idolize and think have perfect lives. Their life is just as messed-up as u think yours is. The difference is... they learned how to hide it better. So, stop caring what other people think. Be yourself. And learn how to be proud of that. (Deep thoughts from a shallow mind)
I wish u health wealth and prosperity.
Tha One an Only
Posts
