Cardano Dan's Newsletter - Issue #52

Don't Miss Life

Quote of the Day

"Life is what happens when you're busy making other plans."

— John Lennon

I love this quote. It connects to so many other great quotes. Here are a couple more…

“Life moves pretty fast. If you don't stop and look around once in a while, you could miss it.”

― Ferris Bueller

“Do not boast about tomorrow, for you do not know what a day may bring.”

— Proverbs 27:1

We in the Cardano community are planning to “change the world.” It’s a noble goal and one worth shooting for. At the same time, while we make those plans, life is happening.

The common theme in all of these quotes is that life is precious, we should enjoy and make use of the time that we currently have, and not just plan for the future.

Cardano will change the world. But it’s a process and a long one at that. Life is happening while we work on that big and hairy goal. Make sure to “stop and look around once and a while” because “you do not know what a day may bring.”

In The News

1. Elon Musk and Michael Saylor met with the leading Bitcoin miners in North America.

   Michael Saylor @michael_saylor

   Yesterday I was pleased to host a meeting between @elonmusk & the leading Bitcoin miners in North America. The miners have agreed to form the Bitcoin Mining Council to promote energy usage transparency & accelerate sustainability initiatives worldwide.

   

   Elon Musk @elonmusk

   Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.

   It is great that there is an effort to increase sustainability initiatives associated with Bitcoin mining and to increase energy use transparency. This is really positive news.

2. At the same time, for the same reason, Proof of Stake is getting more and more traction in the news. Here’s an article from NBC mentioning Cardano as “the most significant proof of stake cryptocurrency on the market.”

   As I’ve said over and over, and will keep saying, why JUST focus on using renewable energy when you can also REDUCE the energy required to run a blockchain?

   Critics will argue that Proof of Stake is more centralized than Proof of Work. I disagree and so does Charles who tackles that point in a video response to Jack Dorsey below.

Cardano Updates

1. Yesterday Charles shared an update about the “Next 90 Days” for Alonzo. He shared that over the next 90 days, the majority of the engineering work will be completed.

   However, he was also very clear that the Alonzo hard fork might take longer than 90 days, though he hopes not. Here’s the most important part of the update in my opinion.

2. Cardano’s Stack Exchange site is now open to the public! I’m looking forward to seeing the types of questions and answers that get posted over the coming weeks.

Technical Analysis

I’ve been tracking this short-term inverse head and shoulders pattern for the last couple of days.

It continues to look very promising. If it plays out, the associated measured move (white line) could take us back close to our recent all time highs.

If we move to the downside, I’m looking to add to my position around the .618 fib and 200D EMA between $.90 & $1.00 ADA levels as mentioned Monday.

What do you think? Will this short-term IHS pattern play out?

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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.