Cardano Dan's Newsletter - Issue #39
The Best Classroom
Quote of the Day
“The best classroom in the world is at the feet of an elderly person.”
— Andy Roony, Radio and Television Icon
Andy Roony was absolutely right. Let me give you a couple example from the news. We’ll interleave the news with my commentary today.
In The News
Over the weekend, Charlie Munger caught a lot of flack for saying about Bitcoin,
“I think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilization”
Buffet on the other hand, is summarized by CNBC as saying, “he didn’t want to comment directly on the digital token because he didn’t want to get grief from everyone who is long.”
It’s pretty clear to me that Buffet and Munger share a similar viewpoint on Bitcoin. What can we learn from their very different approaches to commenting on it?
One of these people has been in the news all weekend in a negative light (Munger) and the other person has not (Buffet). There’s a valuable lesson to be learned from Warren Buffet in this situation.
Sometimes in life, when you don’t have something positive to say, it’s better to say nothing at all. Also, know the situation. In certain situations, a critique may be appreciated. But in others, you may come off sounding like an out of touch and bitter person.
Buffet had a much better sense of the situation and best path forward than Munger did in this situation.
The federal reserve has been telling everyone that will listen that inflation isn’t a problem. In our prior example, Buffet avoided taking a strong stance.
But when it came to discussing inflation at Berkshire Hathaway’s Annual Meeting, Buffet didn’t mince words saying,
"We’re seeing very substantial inflation."
What can we learn from this? Buffet knows his areas of expertise and the areas that he isn’t an expert in. He’s not an expert in cryptocurrencies and technology. He is an expert in economics and markets.
He knows how to read and interpret data and he’s quite comfortable speaking the truth even if it runs directly against what the federal reserve is saying.
Know thyself. Know your strengths and weaknesses. And if there’s an opportunity for you to use your strengths to help other people or shed light on a situation that may influence things in a better direction, do it!
Cardano News
Per the end of week development update, the networking team deployed the first private P2P testnet! Cardano continues its march towards becoming the undisputed MOST decentralized blockchain.
Be on the lookout for all sorts of Cardano Dan related news this week! I’ll be making an appearance in at least one NFT project, will be releasing my own very first NFT, have Stake Pool updates and more!
Regarding my first NFT - I’ve dropped two sneak peaks about the animation around my first NFT (it will be a 1 of 1!). Those are linked below. In addition to the animation, here’s another spoiler - my first NFT has sound too!!!
Technical Analysis
Cardano had a very big and important close of the weekly candle.
In case you’re not sure where I stand on Cardano ADA right now, click the tweet below to see my bull thread
A new piece of info / insight to share… before Ethereum went on its recent run, it chopped around at its 2017/18 highs the same way Cardano just did. I continue to expect a very strong run from Cardano ADA soon.
What do you think? Are you a bull or a bear right now?
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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.
Cardano is following right behind ETH. Big push up in the works.