Cardano Dan's Newsletter - Issue #8
Keep your friends close and your enemies closer.
Welcome to the quick-hitting newsletter about Cardano, Crypto Trading, Blockchain, Monetary Policy, & Data Privacy.
I hope you enjoy this newsletter and that it encourages you to make friends and live with the reality of enemies. If you enjoy it, please share it with others when you get to the end!
Quote of the Day
“First they ignore you. Then they ridicule you. And then they attack you and want to burn you. And then they build monuments to you.”
— union leader Nicholas Klein in 1914
(Per Snopes, many have incorrectly attributed a version of this quote to Mahatma Gandhi.)
It’s no fun being ignored. Even worse to be ridiculed or even attacked. The Cardano community has seen many of these things happen to them over the past months as ada has outperformed Bitcoin and Ethereum by wide margins.
Most people prefer to have friends instead of enemies. I know I do. But fortunately and unfortunately, friendship is a two-party agreement and there are times when you may want something the other party doesn’t. The fortunate part about this is that friendship is really valuable because it’s voluntary. The unfortunate part is that it hurts when people choose not to like you or the things you stand for.
It is noble to seek friendship and peace. BONUS QUOTE OF THE DAY!
If it is possible, as far as it depends on you, live at peace with everyone.
— The Bible, Romans 12:18 NIV
I take the encouragement to live at peace with people very seriously. I also learn from this verse, that it depends on more than just me to live at peace.
As individual people are toxic towards Cardano community members, I will try to live at peace with those folks. I will sometimes fail in my part, but when I do, I hope you’ll forgive me. I will also try to remember that people that are toxic are individuals and don’t represent the entire community that they may try to speak for.
Most of all, I hope that we as a community do such a good job of respecting other communities that, once it becomes clear how phenomenal Cardano’s technology is, the very same people will find an open door in their hearts to walk through and join in “building monuments” to the project.
Cardano Nuggets
It doesn’t matter how many enemies you make in the Cardano ecosystem, as a decentralized blockchain protocol, there is nothing that can prevent you from owning ada and participating in the governance of the project.
Today’s newsletter is sponsored by Cardano Dan’s Stake Pool & my partner Reliable Staking.
Our Cardano stake pools provide high performance and low fees. We greatly value your support!
RELY on Reliable Staking & Cardano DAN2 grow your ADA!
AMA Nugget
Charles is trying to make friends. He fielded a question about partnering with Gavin Wood, another co-founder of Ethereum and founder of Polkadot. His answer is worth a listen.
Around the Block
Even if individuals from other communities are toxic towards Cardano, it is good to stay abreast of what those communities are up to.
There’s been big news coming out of the Ethereum community recently!
EIP-1559, known as the “London” hard fork, is scheduled to make Ethereum a deflationary asset in July.
This EIP involves some really interesting dynamics between Ethereum core developers, miners, and users that are worth paying attention to. There’s no doubt that those dynamics will carry forward into the transition to Ethereum 2.0.
I could cover a lot of the dynamics in detail, but why do that when I can pass along a great assessment on the situation by one of my favorite sources of news, Mr. Hashosi.
By being more informed about other projects in blockchain, you’re better able to “stay close to your enemies” and maybe even convince one or two of them about the merits of Cardano in the process.
Technical Analysis
Things are looking up for Cardano ADA! Here are some thoughts on the current price action:
ADA bounced off of the 21 Day EMA
Bounced off of the .618 fib level of the last move
Broke out of a set of fan lines that often signal the start of a new uptrend
Bounced off of a significant trendline from mid-Feb
Additionally:
The birds still haven’t landed yet
There’s lots of stimulus dollars about to be injected into crypto
Using a trend-based fib extension, I could see the next leg up of this bull cycle targeting anywhere from $2.10 to $2.80
Keep in mind my first target of $3.90 for this bull cycle that I mentioned in the last newsletter. I obviously think we’re just getting started.
Admittedly, not the prettiest of charts. But it needed to be squished to show the potential and I wanted you to see both the fib levels from the last move and the trend-based fib extensions.
Tell Me What You Think
What do you think? I’d love to hear your thoughts, questions, and feedback below!
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.
Thanks Dan! Have been following you on Twitter and just subscribed.
Thank you for taking your time to give insightful and positive thoughts on how awesome our Cardano community truly is.