RCIF II - Five bullet Friday - Issue # 16

   Crypto markets have taken a beating this week, which was much worse than what we saw around March, 2020. The amount of bad news thrown at Crypto markets appears to me as a coordinated attack from some powerful players. There is a barrage of articles on 4chan forums that indicate that some powerful players are trying to make some big purchases and trying to shake out weak hands.

1. Most people who invest in crypto assets know that bitcoin and ethereum will usher in free and open finance with equal access to all. This money is much more powerful than mere paper notes printed from the Federal Reserve or any other central bank. Governments are totally powerless against their citizenry if you take away their power to print money. It is natural that authoritarian regimes like China hate this currency. This is not any real news. These same news headlines are used over and over every year.

2. There are a lot of credible reports suggesting that China is banning bitcoin mining that uses coal power. They want to reduce the carbon footprint of bitcoin mining, which is probably good for the world. China owns the majority of bitcoin's hashpower and any decisions taken in China will affect bitcoin. They are still supporting bitcoin mining that uses renewable sources like hydro-electric and windmills. In the long run it is good news for bitcoin and the world.

3. I have completed sending distributions for the month of April to 50% of the partners. Our banking partner, Keybank, expects me to set-up an appointment and come into a local branch and show my id in order to do a single wire transfer. Each visit I can only complete 3 or 4 wires, as the branch managers have other appointments. I have to sign a lot of papers and multiple people need to approve transactions.It is taking a long time, as we have to go through 70 limited partners. All the money is in electronic format in the bank database, but they insist on me coming into a brick building just to send a few dollars out.

4. We have recently added a position in Sushiswap. This is a fork of uniswap and generates massive amounts of fees. In one single year, Sushiswap sent more dollars to its token holders than Amazon did in 20 years. Sushiswap is a fork of Uniswap but getting more traction than Uniswap. It generates $3.6 million in fees per day which is more than what bitcoin miners get paid. When we are sitting on income-generating assets like Sushi we don't need to worry about the market prices constantly.

5. As you may have noticed, $OHM token dropped along with the rest of the crypto asset market. I came across this fantastic dashboard on OHM. We currently have $75 worth of DAI backing every OHM token. Every day that OHM remains above $1, the treasury is making money. The protocol makes money when it sells OHM above $1, and also makes money when it goes below $1. In the latter case, it is buying $OHM below its intrinsic value of $1. We are generating substantial income from Olympus DAO as seen in our retained earnings spreadsheet.

I see today's market rout as the best buying opportunity of this year. Crypto market fundamentals are growing stronger every day with thousands of developers building new decentralized applications. If you have any money on the sidelines, this is the time to put it to work and dollar-cost average into your portfolio.

Have a wonderful weekend!