Cardano Dan's Newsletter - Issue #72
Taxation & Inflation
Quote of the Day
“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”
― Vladimir Lenin
Most of my quotes are inspirational. This quote from a communist leader is quite the opposite. It’s a cautionary tale of how the “bourgeoisie” (i.e. middle-class) is crushed under communist rule.
Sounds a little too familiar doesn’t it? In the U.S., taxes are likely to go up soon while inflation is accelerating in very painful ways. The middle class is left in a very painful situation with less money to buy more expensive things. Forget getting ahead, maintaining a standard of living will be difficult for most.
At the same time, our “leaders” speak about protecting retail investors from the risks of cryptocurrencies. I’d like to see them take some steps to protect us from themselves first.
In The News
The labor market is normalizing in states that are ending emergency unemployment benefits early. It turns out that when you stop paying people not to work, they start working again. Who would have thought?
Occam is working with Stasis to offer the first Euro stablecoin on Cardano, Stasis Euro (EURS). Looking forward to a better DeFi and RealFi experience on Cardano and better stablecoins will be part of that.
Cardano Updates
Our latest Cardano NFT partnership launched yesterday! The project is called Trybbles and for the first time you can buy the Special Reveal Edition (SRE).
There are a total of 12 types of SRE Trybbles and only 50 of each one exist. If you collect 8 unique SRE Trybbles, you’ll receive a special Trybble!
You can buy them here. Check out the launch announcement below.
There is a possibility for some kind of Cardano adoption in El Salvador. Check out this segment from Charles’s most recent AMA
Technical Analysis / Price Discussion
I posted this on Twitter on Monday.
We had a nice littler jump after that and have since pulled back to retest the channel we broke out of.
We’re looking at the log view below. The arithmetic view looks like a bigger break of the channel.
The white line is a notional path I drew on Sunday for working through the 100D and 50D EMAs on our way back up out of the channel. We’re sort of following that path and it remains my primary case.
If we break down back into the channel, I expect to see strong support around $1.15 which is confluence of various levels.
Let me know your thoughts in the comments.
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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.