Crypto Fundamental Investor/Analyst

Josh Du

NASDEX Ltd

We believe that the tokenization of all asset classes, including stocks, is inevitable as the world further increases adoption of crypto and blockchain technology.

NASDEX is designed to serve as a bridge between the crypto world and the equity world. We believe that the onchain adoption of the equity asset class will deliver increased accessibility with improved capabilities for both crypto and equity investors

Crypto

<ul>
<li>In this weekly, we look at the macro where the recent selldown is well within the historical performance of the asset class</li>
<li>Despite the end year correction, crypto funds have returned 178% in 2021 based on Eurekahedge which is leading to significant new launches in 2022 </li>
<li>Meanwhile, NFTs continue to make headlines as Eminem spent half a million on a BAYC jpeg and a South Korean presidential hopeful taps NFTs to raise campaign funds </li>
</ul>


In this weekly, we look at the macro where the recent selldown is well within the historical performance of the asset class
Despite the end year correction, crypto funds have returned 178% in 2021 based on Eurekahedge which is leading to significant new launches in 2022 
Meanwhile, NFTs continue to make headlines as Eminem spent half a million on a BAYC jpeg and a South Korean presidential hopeful taps NFTs to raise campaign funds 


Crypto Weekly: Historical Corrections, Fund Performance, and NFT Adoptions

<ul>
<li>18% of the Bitcoin miners are located in Kazakhstan which is in the midst of political unrest that led to the shutdown of the internet across the country</li>
<li>We take this opportunity to introduce the concept of miner profitability and hash rate; and analyze their impact on crypto</li>
<li>We conclude that the Kazakhstan hash rate drop is a temporary situation that will recover over time and presents a good opportunity to dollar cost avg into crypto</li>
</ul>


18% of the Bitcoin miners are located in Kazakhstan which is in the midst of political unrest that led to the shutdown of the internet across the country
We take this opportunity to introduce the concept of miner profitability and hash rate; and analyze their impact on crypto
We conclude that the Kazakhstan hash rate drop is a temporary situation that will recover over time and presents a good opportunity to dollar cost avg into crypto


Bitcoin: Network Hash Rate Tumbled 15% as Kazakh Gov Shuts Internet - What Happened?

<ul>
<li>A simple thesis on crypto that is based on self-reinforcing megatrends in the world today</li>
<li>We highlight that there are three megatrends driving the adoption of crypto. 1. Fiat debasement trend, 2. Centralization trend, and 3. Network effect of money </li>
<li>Finally, we frame our investment thesis into a risk/reward ratio of 10:1, arguing crypto investments are well worth the risk</li>
</ul>


A simple thesis on crypto that is based on self-reinforcing megatrends in the world today
We highlight that there are three megatrends driving the adoption of crypto. 1. Fiat debasement trend, 2. Centralization trend, and 3. Network effect of money 
Finally, we frame our investment thesis into a risk/reward ratio of 10:1, arguing crypto investments are well worth the risk


Crypto - A Simple (Non-Fundamental) Investment Thesis

<ul>
<li>After reviewing the crypto congressional hearing, I believe the risk of any imminent draconian US regulations against crypto is significantly reduced</li>
<li>It was clear from the hearing that <strong>crypto regulation is turning into a partisan issue divided down by party lines</strong>. Republicans were clearly more pro-crypto while Democrats were clearly not. </li>
<li>As with any partisan issue, the legislation progress is expected to be painfully slow, which will buy time for the continued adoption of crypto </li>
</ul>


After reviewing the crypto congressional hearing, I believe the risk of any imminent draconian US regulations against crypto is significantly reduced
It was clear from the hearing that crypto regulation is turning into a partisan issue divided down by party lines. Republicans were clearly more pro-crypto while Democrats were clearly not. 
As with any partisan issue, the legislation progress is expected to be painfully slow, which will buy time for the continued adoption of crypto 


Crypto Weekly: An Analysis on the Congressional Hearing and Imminent US Regulation Risk

Independent Research, Bitcoin Analysis, Luxor Mining

Luxor Mining

Independent Research, Bitcoin Analysis

The one-stop newsletter for Bitcoin mining. Follow us for analysis, data, and hashrate insights you won't find anywhere else.

<ul>
<li>December is here, and the red-hot price action we saw at the beginning of November has been put on ice.</li>
<li>Hashprice, rig prices, mining stocks are all taking a stiff beating in response to the price action.</li>
<li>Bitcoin’s <a href="https://www.hashrateindex.com/coins/bitcoin" target="_blank" rel="noopener">hashprice</a> has fallen below $0.30/TH/day for the first time in two and a half months.</li>
</ul>


December is here, and the red-hot price action we saw at the beginning of November has been put on ice.
Hashprice, rig prices, mining stocks are all taking a stiff beating in response to the price action.
Bitcoin’s hashprice has fallen below $0.30/TH/day for the first time in two and a half months.


United States

Virtual currencies are decentralized, math-based digital assets in which transactions can be performed cryptographically without the need for a central issuing authority. The first specification and proof of concept of Bitcoin, the first widely used virtual currency, was published in 2009 based on a paper published pseudonymously by Satoshi Nakamoto.

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Bitcoin (XBTUSD CURNCY)

Crypto Weekly: Historical Corrections, Fund Performance, and NFT Adoptions

Weekly writings on historical crypto drawdowns (we are not at the bottom yet), crypto funds beating out tradfi funds significantly in 2021 with its...

Josh Du

Bitcoin: Network Hash Rate Tumbled 15% as Kazakh Gov Shuts Internet - What Happened?

We analyze the impact of the shutdown of 18% of the world's Bitcoin miners due to Kazakhstan's current political unrest.

Josh Du

Crypto - A Simple (Non-Fundamental) Investment Thesis

A simple (non-technical and non-fundamental) thesis on crypto, where we explore the megatrends of today and what it means for future crypto adoption.

Josh Du

Crypto Weekly: An Analysis on the Congressional Hearing and Imminent US Regulation Risk

The congressional hearing on crypto exposes the division among lawmakers regarding their stance towards crypto regulation. The division could...

Josh Du

Hashrate Index Roundup 12/05/21

December is here, and the red-hot price action we saw at the beginning of November has been put on ice. At the time of...

Luxor Mining

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