💰This Bitcoin strategy gives 270% returns!

Author

Moe Hayek
June 07, 2022

What up, family, 👨‍👩‍👧‍👦,

Seedphrase Daily here 👋, where we give you information about Web3 and NFTs served on a golden platter. By golden platter I mean this email.

Today’s estimated research time is 3 hours and 58 minutes condensed into a read time of 3 minutes and 19 seconds. Stay tuned to where we talk about:

  • 💰 This Bitcoin strategy gives 270% returns!

  • 👥 Vitalik introduces a decentralized society

  • 🐐 Bored Apes rampaging NFT NYC

  • 👨‍🏫 Lesson of the Week

This Bitcoin strategy gives 270% returns! 💰

Buying Bitcoin at the equity-market close at 4 pm EST and selling it on the next day’s open at 9:30 am would have yielded gains of roughly 270% going back to 2020.

But by doing the opposite, buying it at the U.S. market open and selling it at the close spits out negative returns. Now if you;re looking for alpha here it is ;)

Are cryptocurrencies sensitive to the U.S. equities market?

Looking at the graph above, we see just how sensitive cryptocurrencies are when the equities market opens and how Bitcoin tends to move higher on weekends. Does this mean stock traders are messing with our bread?

Wonder why both stocks and crypto are moving adjacent to each other?

Analysts have been able to notice a pattern between cryptocurrencies and U.S. equities. To all our surprise, It was a positive correlation!

Both the assets have been reacting to the Federal Reserve policy of increasing interest rates to cool down growth and dampen inflation. The yield on the 10-year Treasury jumped back above 3% to 3.03%, up from 2.95% late Friday. These were levels from early and mid-May when it reached its highest point in 2018.

Economists say there is a 35% chance of a recession within the next two years. But we’re pretty sure it has already begun! What are you doing to prepare for it?

Vitalik introduces a decentralized society 👥

Earlier this month, Vitalik introduced SBTs, a “decentralized society” (DeSoc) where individuals will acquire a permanent record of track history and attributes that are stored as SoulBound tokens in private blockchain wallets and can’t be traded.

The objective of this is to develop a digital identity. Here's an image to help you understand:

How will they understand each other better?

Imagine a world where most participants have Souls [digital wallets] that store SBTs corresponding to a series of affiliations, memberships, credentials, outstanding loans, and even past events they have attended!

These are the four possibilities with SBS:

  1. Undercollateralized Loans: Depending on your DeFi credit store, you will be able to apply for different loans funded by investors

  2. Provenance: Authentication of tokens earned from P2E games (Can't be transferred)

  3. Decentralized Key Management: An entity can't interfere with identity or information

  4. Bring Reputation Onchain: Digital identity can help investors get to know their founders in a decentralized manner.

This could be what we need to bring this technology forward, adding real-world value to the people involved. This can help with immigration and further identification and is another system. Do you think we will ever see a driver's license on your MetaMask? (joke, but not really)

Bored Apes rampaging NFT NYC 🐐

After bumping up the schedule, Bored Ape Fest now coincides with NFT NYC! So head over to Manhattan on June 20- 23rd to experience this year's highly anticipated IRL event!

Do you want to attend the largest event this year?

There are still tickets available (https://www.nft.nyc/register) if you're looking to join in on this event. There are currently over 300 speakers registered with tons of open events you have access to.

NFT NYC can be an opportunity to meet like-minded individuals within the same space as you. The SeedPhrase team will be attending the event & hope to see yall there! Reply to this if you’re coming!

ApeFest

The countdown begins. June 20th is the date for one of the most hyped NFT festivals of the year so mark your calendars! Saying the BAYC community is excited would be an understatement.

What is ApeFest 2022?

ApeFest is an annual festival hosted by the Bored Ape Yacht Club team for Bored Ape and Mutant Ape holders. If you're a BAYC or MAYC holder, your tickets can be purchased on the TokenProof app to verify ownership and receive tickets.

Lesson of the Week 👨‍🏫

When you're learning NFTs, there's so much new vocabulary because it's such a new world. Here's some terminology you might hear around while exploring this space.

Burner Wallet

Kind of like a burner phone you would use to do things the law doesn't particularly like. A burner wallet has minimal ETH and no valuable assets in it. Because the last thing you want is one wrong signature, and your 50k ape disappears.

On a related note, don't keep your valuable NFTs in a hot wallet; please move to a hardware wallet.

Mint from contract

There have been many scams where a project advertises a free mint on their site but changes the mint button to a signature request for you to approve transfers to your valuable NFTs. Always, Always mint from the contract!

This is one way to avoid your NFTs getting stolen!

Unverified Etherscan

Here's an example unverified contract: https://t.co/JA4tlJdyJz 

You'll find that there's no readable code on the etherscan page. For a free NFT mint, this almost guarantees something malicious is going on.

Short stories:

Apple's VR & AR headset is set to launch in 2023. Going to see Steve Job in the metaverse 👨‍🏭

That’s a wrap for today! Do you think we’re going to be seeing digital identities become prominent in the near future? Make sure to follow us on Instagram and Twitter for more content! And If you’re looking to find early opportunities to make money, tune in daily! It only takes 5 minutes. Also, read our eBook for free if you refer one friend! (scroll down).

See you tomorrow. ✌️ 💎

Meme of the Day

Wallet over everything

Disclaimer

None of this is financial advice. This newsletter is strictly educational and is not investment advice or solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research!

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