Cardano Dan's Newsletter - Issue #27
Exit Strategies
Quote of the Day
“If all you're doing is grinding for the man, it's going to burden you. Once you say, 'Hey, I'm grinding for the man, but I'm putting money away, and this is part of my exit strategy,' you're working for you.”
— Jocko Willink
Jocko Willink is a retired Navy Seal and author of Extreme Ownership. It’s an outstanding book and I highly recommend it to anyone, but especially current or aspiring leaders. I have the utmost respect for Jocko.
I find his quote about exit strategies quite interesting and applicable to Cardano. One of the things that I absolutely love about Cardano is that there are opportunities for ANYONE to work hard and earn ada to put money away for themselves to then work for themselves at some point instead of “the man.”
Are you an Ops person? You can run a stake pool. Are you a developer? You can create things on Cardano. Are you a writer? There’s endless possibilities to write about Cardano. An artist? Have you heard of the NFT craze!? … I could go on. If you’re willing to work hard, there is every opportunity to make money to have an “exit strategy” to work for yourself.
However, when we talk about exit strategies, we’re normally talking about exiting investments. I’ll share some more thoughts on that later in the week.
Cardano Updates
Each day brings new tools and ideas to Cardano. Here’s a NFT Maker project that was recently released making NFT creation possible for even non-developers. (NOTE - I haven’t used it, but it’s a great concept that fills an important need.)
CardanoBits distributed all of the CBITS over the weekend. I’m the proud owner of CardanoKidz, SpaceBudz, and now CardanoBits. On the CBITS front, I picked up a rare CBIT and am pretty pleased. Also working on my own NFT ideas with current and new partners (on that note, feel free to reach out any time to explore partnership ideas.) Such exciting times!
In The News
China has tested “expiration dates” on digital money as a potential way to encourage people to spend money when the economy needs a jump start. There is clearly a HUGE difference between blockchain and decentralization. Not all cryptocurrencies are decentralized.
This is the exact opposite approach of Cardano which will be the MOST decentralized blockchain in all of crypto because of its Block Production, Network, and Governance approaches. Speaking of governance, be on the lookout for a new Project Catalyst proposal in the F5: DApps & Integrations Campaign from me and my partner pool Reliable Staking in the next couple of days!
Technical Analysis
Cardano ADA looks crazy bullish to me right now as my recent tweets show.
Here’s a zoomed in view of the levels between where ADA is right now and price discovery. Not shown but just as important is the 2017/18 high of $1.319.
I could see ADA laddering up these levels; hitting new resistance and reestablishing prior resistance as support at each level. Or, I could see ADA just running like mad. I just don’t see much at all that looks bearish right now.
Please do your own research (DYOR) before investing.
Before You Go
Please share this with people you think will like it!
Also, I’d love to hear your thoughts, questions, and feedback.
This newsletter is for entertainment and educational purposes. I’m not a financial advisor and you should do your own research and consult a financial advisor before investing in cryptocurrencies.
Hello Dan, Great article. Could you share your thoughts. Does it make any difference in terms of staking rewards if I stake my ADA in an Exodus wallet or a Yoroi wallet ?
Great Analysis Dan
Keep on posting 🌞