With all of the useless shills like Ivan on Tech saying to "watch out," bitcoin continues its march into the record books. In most cases, round numbers serve as a psychological barrier that require a great deal of energy to break through. BTC surprises everyone yet again by not just getting past the round number of $30k, but demolishing it. As I write this, bitcoin stands at $32,707.
Ether also kicked back to life, breaking out of a sideways pattern that threatened to leave it out of the New Year's rally. The silver of crypto snapped up to $775 and seems poised to fulfill its promise of meeting all time highs much sooner as well.
In the meantime, garbage projects like Basis Dollar continue to perform like shit and offer no utility to users, unlike bitcoin, which actually has a use case.
I must say, this defi thing is much easier when the big coins decide they want to move. All of these other projects are just copycats trying to accomplish something that's already been cornered. Protip: Anything having to do with Value Defi or Value Liquid is garbage. The ecosystem has no liquidity and super high gas fees. Stay away. Stick to the known winners so that you don't end up losing money in the biggest bull run in crypto history.
Deus.finance is also garbage. You may hear about it because it is trying to do something cool — bring stocks to defi. However, the programming "team" consists of one guy who is so schizophrenic in his monetary policy that you can't make any money while the damn project builds itself. The dangers of centralization come front and center again.
In the same vein, although Mithril Cash is pumping, stay out. It's garbage that is just a fork of Basis Cash. If anyone knows whether Mithril is actually used in Asia, please let me know. Their site talks about the currency being the "most used crypto in Asia." If that's false, then everything else they promote is garbage as well.
Base Protocol is garbage. These other algorithmic stablecoins are trying to incorporate it into their projects to extend its life, but it's garbage. The developers for Base and the other coins probably know each other. Stay away.
Stay safe, even in the bull run.
