Welcome to the Flarnchain Newsletter, brought to your inbox each and every week like an atomic clock. Speaking of that, that line comes from a famous crypto youtuber called Ivan on Tech, who used to have a daily morning show where he would say "brought to you each and every morning, like an atomic clock". I really respected his grind the commitment to providing a morning show about something he was so passionate about, every single morning. He had all sorts of taglines like "black coffee, no milk, no sugar" which is actually how I take my coffee too.
Anyways, quick bit of trivia for you readers out there. Ivan on Tech, to my knowledge, does not publish videos each and every morning like an atomic clock anymore. I can't really blame him, as every single morning for 3 years straight seems like... impossible.
You know what's not impossible? Publishing a newletter about crypto every week for 3 years straight, as I'm only 6 weeks away from accomplishing that feat. The only problem with my newsletter is that it really hasn't grown, and I'm not super close to accomplishing any of my big goals. The biggest overarching goal of this newsletter is to deploy a fully decentralized blockchain called "flarnchain" -> this goal is only "in process". The other big goal is to publish this newsletter every single week for 12 years straight. Well on my way to accomplishing that one.
In case you wanted a sense of what 12 years of newsletters looks like, here's something I call "the flarnmap" which is just all of the Wednesdays from Febraury 10, 2021 through January 19, 2033 configured in a four column blockchain representation:
Anyways, enough of that meta stuff, let's get into the crypto markets.
weekly market update
Let's take a look a the weekly snapshot of the market:
This week, markets were pretty wild. The weekly update doesn't really show it, but this week was absolutely bonkers in terms of memecoin activity. There seemed to be a new memecoin launched every 10 minutes, at least in the ecosystems that I follow relatively closely. I would finish my day at the fiat mines and check crypto twitter, and be like... what? there's 5 new memecoins that everyone is getting rich off of? and then check crypto twitter again before bed and be like... what? everyone just got poor because they got dumped on by the whales holding that memcoin?
Memecoins are something interesting. For every 1 that succeeds and breaks into the top 100 of crypto market capitalization, there's probably 1,000 that fail and are destined to languish deep in goblintown, never to be spoken of again. I'm sure that's a bit of an exaggeration... but actually, probably not. Right now on Coingecko there are 11,674 coins that are listed. There are countless other coins on various blockchains that don't even get listed. Most of the 11,674 coins that managed to care enough to try and get listed on Coingecko are failures. There are probably another 10x or even 50x the number of those coins that didn't even get listed, that failed or rugpulled on their communities. Many people jump from memecoin to memecoin, seeking out that next 1,000-10,000% gain. I'm sure some of those people manage to make big time money, but most of them just keep losing, and eventually this erodes at their capital and turns them into strung out memecoin addicts just looking for that next "hit".
So anyways... what was I going to say actually about the data on the chart? Oh yeah! We are around 100 days away from the next Bitcoin halving event. In this event, the number of new coins issued by the Bitcoin protocol will go from 7 new Bitcoins per 10 minutes, to 3.5 new Bitcoins per 10 minutes (I think... check my math -> if you check my math and I was wrong, I'll send you some Huahua). This is a big deal! When less Bitcoin is being emitted, there's less supply being sold by miners. Less selling with no change in buying = increase in price.
Bitcoin price essentially drives the rest of the crypto market. As bigtime Bitcoin whales see their fortunes rise, some of them rotate those profits into smaller crypto assets, causing those assets to rise, and this rotation continues on down, and then back up the chain as the smaller assets increase in value, savvy investors will rotate their profits back into the more stable and tested assets. I would draw a chart mapping this out, but I'm sure you get the drift. Also I need to move on to other topics.
Market Animal
This week's market animal is a dog 🐶 because dogs are the most common of the memecoins. There's other memecoins named after other animals, but Dogecoin was the original memecoin, and the next biggest memecoin, Shiba Inu, is named after the type of dog represented by Dogecoin's logo. Anyways, there's a whole lot of new dog coins, so this week is a dog market. Also I'm working on a super top secret project with a friend I met in the Web3 Builder's alliance, and it is about dogs:
So anyways, dog market... memecoins. what else. Oh yeah!
52 weeks of huahua - Week 2
Today marks the start of week 2 of 52 weeks of huahua. Last week I explained the rules:
buy the cryptocurrency huahua each and every week for 52 weeks
stakes some of the coins
use some of the staking rewards to buy other dog coins
Last week I purchased $65 worth of Huahua, for a total of ~128k Huahua purchased. I used staking rewards from various cosmos network blockchains to buy these Huahuas, mosly Osmosis and Atom. I also received a generous gift of 50,000 from a mysterious reader. Check out this transaction message:
This person has clearly not been reading this newsletter for very long... because they didn't witness #52weeksofwads, where I very easily purchased The Wadsquad NFTs for 52 weeks straight. I still have all of them. Over 200 of them in fact. I love my wads.
Anyways, here's my very rudimentary tracking chart for 52 weeks of huahua. I'm tracking each transaction and then also a cumulative balance. I created a special wallet for this experiment, so as not to confuse activity on it with other wallet activities. The goal with this experiment is to buy huahua every week for 52 weeks, and also to be very very rich by the end of 52 weeks. I'm almost certain I will achieve the first goal. I'm not so sure about the second one.
I should probably show the huahua chart for those that are curious, as the whole reason I'm doing this is because huahua really blew up a couple weeks ago (to my pleasant surprise).
I started this experiment really when huahua was peaking. Here's to hoping this is just a short rest-stop on it's way to the top 100 cryptocurrencies (which would truly make me rich).
Well that's about all for tonight.
Hope you enjoyed this week's ramblings!
Have a wonderful rest of your week.
Cheers!
-Flarn
🤟🤟
