2022-06-17
- ☀️Daily Log:
- Terra Luna Crash #finance #crypto
- From being a top 10 coin worth 20 billion last week, it has crashed to near 0
- This caused tether to be de-pegged and bitcoin is in freefall
- Is crypto dead?
- BTC and ETH are rebounding a little
- Most stablecoins and altcoins are dying
- What is it caused by?
- One theory is that BlackRock and Citadel coordinated an attack on Terra Luna by selling off all their BTC and UST (Terra Luna) holdings at the same time to crash Anchor (who holds a tone of Terra Luna and is offering 20% APY)
- What should you do?
- During a market crash, it is best to sit on your hands
- There is a suicide hotline pinned to their subreddit because so many people who are invested are new to crypto and investment
- From being a top 10 coin worth 20 billion last week, it has crashed to near 0
- Bear Market Lessons #finance
- Don't keep money on centralized exchanges as they act like they are FDIC secured when they are not
- Unrealistic returns like 20%+ fail during bear markets and therefore should be avoided almost entirely
- There is no perfect inflation hedge, during a recession, everything bleeds
- WWDC 2022 #technology
- Apple Pay Later is competing with Klarna with 0% interest payment split
- This is a buy-now-pay-later BNPLR financing service that has become quite popular in the recent years
- BNPLR
- This is a buy-now-pay-later BNPLR financing service that has become quite popular in the recent years
- Apple is now offering a collaboration whiteboard tool that competes with FigJam
- Companies usually have to pivot or innovate faster
- Apple Pay Later is competing with Klarna with 0% interest payment split
- Buy-now-pay-later Services #finance
- JD Power reported that people under 45 are using these services
- Leading to over-spending and blowing their budget buying smaller consumer items that can add up
- 55% of consumers spend more using BNPL services than they normally would
- According to NYMAG
-
In California, 91 percent of consumer loans made in 2020 were BNPL loans
- Target audience are also cash-strapped young adults with crippling student loan debts
-
- Can they keep paying off their loans or will they also start to default on them
- But defaulting on this should not be as impactful as the subprime loans defaulting that caused the housing market crash
- JD Power reported that people under 45 are using these services
- Terra Luna Crash #finance #crypto
- Retrospective::
- One week ago: [[June 10th, 2022]]
- One month ago:
- One quarter ago:
- One year ago: