Over the past few months, I’ve been contributing weekly market analyses to Liquid’s blog. Many of these posts contain cryptocurrency charts from TradingView that look something like this.
How to Convert PDFs to Image Files with ImageMagick in macOS
To convert PDFs to image files, you’ll need to install Homebrew, ImageMagick, and Ghostscript. Homebrew is a package manager for macOS that allows you to install and manage a variety of software packages with a single command. ImageMagick can be thought of as the Swiss army knife of image processing and manipulation. Ghostscript is a PDF interpreter that’s required for ImageMagick to process PDF files.
How to Disable Gutenberg in WordPress 5.0
Add the line below to your theme’s functions.php file to disable the new Gutenberg editor in WordPress 5.0.```
/* Disable the Gutenberg editor. */
add_filter('use_block_editor_for_post', '__return_false');
teamLab Planets
We spent the afternoon at teamLab Planets in Toyosu today. What a beautifully designed experience. Definitely worth the visit.
Steemit Lays Off 70% of its Employees →
Ned Scott:
Given the weakness of the cryptocurrency market, the fiat returns on our automated selling of STEEM diminishing, and the growing costs of running full Steem nodes, we have been forced to layoff close to 70% of the team. The remainder of the team is staying on to focus primarily on reducing the costs of the infrastructure running steemit.com and our public APIs, and ensuring that the community can remain informed of developments.
I really enjoyed using Steemit last year, but the inability to specify canonical URLs for blog posts ultimately put me off. I still think Steemit is the only blockchain-based social platform that has managed to a decent user base and following, so this development is very unfortunate. My thoughts below.
- It’s silly to blame the layoffs on the current bear market instead of the real reason — poor treasury management. It’s clear that Steemit, Inc. chose to speculate in a high-volatility market with investor funds instead of cashing out to fiat in accordance with a real and reasonable financial plan.
- Accounting for inflation, Steemit auto-mined and sold ~80% of the token supply since its inception. Is there a detailed financial report that shows where all of this money went? If so, Steemit, Inc. should consider making it publicly available. If not, then why not?
- Perhaps it’s time for Ned Scott, who still owns ~$750,000 worth of STEEM, to step down as CEO and move into an advisory position. His leadership has been questioned by many in the community, and he doesn’t seem equipped with the knowledge and experience to bring Steemit, Inc. out of this financial mess.
A LEGO city
Living in a city like Tokyo, it’s easy to get lost in the day-to-day chaos on the ground. From above, you can understand the importance of perspective.
My Favorite Train Station
Lavender Farm Station (ラベンダー畑駅) in Furano, Japan — perhaps the most beautiful train station on Earth.
OKEx Token Delistings, Round 3 →
OKEx:
To create a robust trading environment and offer the best trading experience to our users, we will delist several TRADING PAIRS with weak liquidity and trading volume according to the OKEx Token Delisting/Hiding Guideline.
Delisted tokens, along with their respective market cap rankings include — 1ST (459), AMM (1109), ATL (820), AVT (698), BRD (137), CAG (659), CBT (719), CIT (1836), DAT (735), DENT (150), DNA (680), DNT (302), EVX (383), GNX (351), ICN (159), KEY (279), LA (428), LEV (740), MAG (1857), MTL (255), MVP (735), NGC (312), OAX (516), OST (236), QVT (1596), RDN (202), REN (218), REQ (150), RNT (199), SAN (174), SHOW (1823), SNGLS (285), SPF (1001), SUB (156), TRA (N/A), UKG (440), VEE (278), and WRC (927).
The majority of these tokens can be classified as s***coins, cryptos that have very little demand — these delistings don’t surprise me. The delistings that do surprise me are the coins that rank higher than 200 in terms of market cap — BRD, DENT, ICN, REQ, RNT, SAN, and SUB. Here’s a quick look at the market cap to 24-hour trading volume multiplier for these coins.
- BRD: 20,713,812/60,379 = 343x
- DENT: 18,500,492/770,031 = 24x
- ICN: 17,492,584/8,383 = 2,086x
- REQ: 18,360,543/2,444,093 = 7.5x
- RNT: 12,423,939/243,014 = 51x
- SAN: 15,475,269/86,063 = 180x
- SUB: 17,859,556/161,965 = 110x
For comparison, here are the market cap to volume calculations for the top three cryptocurrencies – BTC, XRP, and ETH.
- BTC: 69,772,425,346/6,412,798,840 = 10x
- XRP: 15,032,647,237/670,421,120 = 22x
- ETH: 11,864,281,308/2,541,170,913 = 5x
I like to use this multiplier to gauge the value of a cryptocurrency against itself. In my experience, cryptocurrencies with an average multiplier that is less than 20-25x have adequate and reliable trading volume to support the price. In my opinion, cryptocurrencies that have multipliers higher than 50x are severely overvalued and do not have adequate volume and interest to support the price. In most cases, cryptocurrencies with high multipliers have extremely thin order books with less than 10 BTC sitting between the spot price and “zero”. With this in mind, the cryptocurrencies from OKEx’s delisting that resemble houses of cards are BRD, ICN, RNT, SAN, and SUB, and I wouldn’t be surprised to see these coins delisted on other exchanges in the near future.
Sunrise at Baker Beach
Baker Beach in San Francisco — one of my favorite spots.
Focusrite Clarett 4Pre USB Audio Interface Review
The Clarett 4Pre is Focusrite’s mid-range offering in its Clarett line of USB audio interfaces. It’s a solid option for singer-songwriters, home studio owners, traveling musicians, podcasters, and music producers who require more connectivity than what’s offered by the Clarett 4Pre.