“Theta is Godzilla”
Posted April 19, 2021
“Theta is Godzilla.”
It’s a growing meme in the cryptosphere. And the bigger Theta gets, the bigger the meme.
I, for one, don’t disagree.
Theta is the undisputed leader in decentralized streaming. It's landed partnerships with some of the most established companies in the world -- Sony, Samsung, Google, Lionsgate, and more.
Just last night (April 18, 2021), the Theta network powered the World Poker Tour championship.
And, soon, Theta will open up an NFT marketplace selling the World Poker Tour’s most iconic moments. (Meh.)
Last week, Theta was awarded its THIRD U.S. patent for decentralized streaming.
If you’ve been following our Crypto Cabal articles, you know we consider Theta a Golden Goose.
[Golden Goose: A next-gen technology company with a decentralized cryptocurrency component and future passive income potential.]
Tomorrow, we’ll look under the hood of Theta’s network, and see precisely why it’s such a boon for the future of the decentralized net.
(Sneak preview: It creates major incentives for centralized entities to adapt to, and even embrace, decentralization.)
First, let’s look at the broader crypto markets.
Crypto Markets Rattled!
Amidst the untamed exuberance, fear and doubt has crept into crypto.
During the weekend, we saw a massive shakeout. Bitcoin alone dropped from about $62,000 to $51,000.
The pundits cite several reasons:
1.] The (as for now, unsubstantiated) claim that the Treasury is cracking down on institutional money laundering using digital assets (the Blockchain Association fact-checkers say: false)
2.] Coinbase executives, including founder Brian Armstrong, dumping COIN equity upon Coinbase’s “IPO” (direct listing), rattling faith in Coinbase and crypto’s future.
This one also seems overblown.
According to Ryan Todd, an analyst at Block Research:
CFO Alesia Haas sold 15% of total holdings
CPO Surojit Chatterjee sold 8%
COO Emilie Choi sold 24%
CEO Brian Armstrong sold less than 2%
3.] A report out of Xinjiang claiming that bitcoin miners in China were hit with massive power outages.
(Though the outage indeed happened, not everyone agrees it caused BTC’s price dump.)
As usual, anyone trading on the news probably got wrecked -- and those who panic sold most likely regret it.
We don’t relish in bloodbaths, but we embrace them when they come.
Why? Because we’re prepared for anything and we take the long view.
Sure, we could (could!) see another drop like the one we saw in the 2001 dotcom crash.
Recall that after the dotcom exuberance, Amazon fell 98% from its ATH.
Priceline.com fell 99% from ATH.
Apple fell 85%.
What happened next?
If you were patient enough (especially if you bought the dip), you would’ve loved seeing Amazon go up 33,000% from its 2001 low.
Apple went up 21,900% from its 2001 low.
Priceline went up 101,000% from its low.
Do I think Theta’s going to drop 98%. Highly unlikely.
(Inflation is just one reason.)
I’ll reveal why Theta’s set to rise even higher… and be one of the first crypto projects to gain mass adoption… tomorrow.
Moreover, we’ll introduce a new “Golden Goose” crypto on our list.
3. ?????? ← TOMORROW
Managing editor, Laissez Faire Today
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