admin Posted September 16, 2021 Report Share Posted September 16, 2021 style="height: 100%;margin: 0;padding: 0;width: 100%;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;background-color: #FAFAFA;"> Enjoy the Latest Edition of Crypto Trader Digest - Certified Rare A Message from Alexander Höptner, CEO of BitMEX Another week and another significant ‘first’ for BitMEX. This week we launched our exclusive NFT series as a reward for all BitMEX users. Our BitMEX Phoenix and ‘X’ Series NFTs were unveiled to the world, and we’ve already started gifting the ultra-rare Phoenix NFTs to our top 10 traders. Behind the excitement of this campaign is a serious point. The metaverse is here - so we’re going to use it to reward our users. Don’t miss your chance to bag one of only 150 of our ‘X’ Series - for details, see here. In this edition of Crypto Trader Digest, Arthur continues to delve into NFTs by taking a step back and looking at some of the longer-term macro trends that have driven today’s popular culture. He’ll examine how waves of urbanisation and industrialisation in the run up to the 20th Century acted as catalysts for the emergence of sports we know and love, how the growth of cities fueled the meatspace art-world, and how an internet-enabled digital economy has propelled the mass adoption of e-sports. So why wouldn’t digital art and NFTs play a huge part in the metaverse world that’s becoming our new normal? Which, as an avid gamer, got me thinking - how far away are we from my dream of having my favourite weapon from my favourite game slowly spinning in a digital frame on my wall at home? As ever, an insightful and thought-provoking read. - Alex (@AlexHoeptner) From the Desk of Arthur Hayes Certified Rare (Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.) Digital artworks enabled with NFT technology and hosted on public blockchains, hereafter referred to as NFTs, beg the latest iteration of the question “what is art, and what is trash?” When the less affluent witness immense sums spent on squiggles on a canvas, or pixelated faces, they cry “what a waste”. When one affluent cohort witnesses another break ranks and support a new art form with their nouveaux riches, they wag their fingers at the upstarts and proclaim “they have no taste”. Because their idea of “taste” is underpinned by a hope that the new wealthy will continue to pump the art bags of the old wealthy, such that valuations continue rising. A few days ago, I showed my boy a few Rare Pepes that caught my eye. I wanted to ape into the Pepe’s due to some rumours that Sotherby’s was going to auction some certified Rare Pepe JPEGs. He responded that I should buy a piece from some famous contemporary artists I knew nothing about. My response was “I don’t buy Boomer art”. I will support my own, and the digital community that is the source of my ability to spend crypto on JPEGs. The combination of that conversation, my trip to the US Open, and a recent dinner party fully convinced me that the NFT art form is going to be enormous. Flipping JPEGs is profitable now for some, but if that is the only activity, at some point the speculating horde will move to better silicon-powered pastures. What narrative will convince the crypto wealthy to plow their disposable Sats and Wei into NFTs rather than Monets? Are crypto hodlers destined to pump the Boomer art bags, or will we two-step to our own beat? The City Powers the Art As an avid tennis fan since youth, I thoroughly enjoyed the experience of attending the most recent US Open. When you begin thinking deeply about any professional sport, you quickly realise it is a massive energy sink. Arthur Ashe Stadium can hold almost 24,000 humans. How does one get to the stadium? Most people get into a motor vehicle that requires energy to operate. And for the pleasure of riding in your own motor chariot you get to gaze upon glorious Queens for hours. Others ride the subway, which also consumes energy. The stadium consists of a concrete slab with lines on it where men and women hit green felt balls with a raquet. The viewing experience and the energy it costs to construct the venue is completely worthless from an energy perspective. However, what tennis and other professional sports provide is a sense of community that was destroyed when we moved from small villages as peasant / slave farmers into factories as atomised worker bees. Baseball is America’s sport. In 1871, the first professional league was founded. What would the UK be without football? I’m sure depending on your opinion of the sport, you might answer quite a bit better, or completely worthless. But after choking on penalty kicks in the 2021 Euros, I’m sure there were many who wished England would stop pretending to play the sport. The Football League, the first of its kind, was founded in 1888. By 1900, the percentage of citizens residing in cities with a population 5,000 or larger stood at 35.9% in the US, 67.4% in the UK, and 30.4% in Europe as a whole. Western Europe and America adopted and quickly improved upon the inventions of the first industrial revolution. Today, in most developed countries, over 80% of the population lives in cities of various sizes... Click here to continue reading this edition of Crypto Trader Digest – Arthur Hayes, Co-Founder of BitMEX (@CryptoHayes) From BitMEX Research Ethereum’s Proof of Stake System – Calculating Penalties & Rewards After launching our Ethereum Proof of Stake (PoS) validator node a few weeks ago, in our first detailed look at the PoS system, we catalog and examine each type of reward and penalty that validators can obtain. We provide examples for many of the scenarios based on the live system and comment on the interrelationship between some of these rewards and Ethereum’s supply. Mapping Out The Macro Endgame Following on from our February 2019 piece, “Anatomy Of The Next Global Financial Crisis” and our March 2020 piece “Inflation Is Coming”, we thought now might be an appropriate time for another opinion-filled macro rant. We explore the recent pick up in inflation to over 5% and discuss the increasingly fraught predicament central bankers face when trying to bring this under control. Latest News from BitMEX Are YGMI? Flex with BitMEX’s First Ever NFT Drop We’ve decided to launch our first-ever NFTs, giving BitMEX traders the chance to take home a piece of virtual swag. Think of it as a BitMEX badge of honour – no matter where you are in the metaverse, owning one of these will put you in the rarest of company. Introducing the Phoenix Series and ‘X’ Series. Social Spotlight View this email in your browser No articles in this email should be copied or reproduced in whole or in part. The information contained does not constitute research or a recommendation. Neither HDR Global Trading Limited nor any of its affiliates make any representation or warranty as to the accuracy or completeness of the statements or any information contained in these articles and any liability therefor (including in respect of direct, indirect or consequential loss or damage) is expressly disclaimed. This is not providing any financial, economic, legal, accounting or tax advice or recommendations. In addition, the receipt of this email is not to be taken as constituting the giving of investment advice nor to constitute such person a client of the BitMEX trading platform. This email was sent to <<Email Address>> why did I get this? unsubscribe from this list update subscription preferences BitMEX · Suite 202, 2nd Floor, Eden Plaza · Eden Island · Mahe · Seychelles Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.