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the challenge of central bank backed digi currency is that of money printing. Whilst these tokens could take over from stable coins, i dont think they will replace BTC which draws its interest from the finite number of coins in circulation. Central banks of recent try hard to devalue their currency in order to give international "competitiveness" and fund a shortfall of revenue.
The majority of KR1 coins are the tokens of the infrastructure on which crypto trades - unless the new digi currencies are going to build a new network - they will use the existing/developing crypto infrastructure and as such this should benefit KR1 at the expense of existing banking clearing infrastructure etc.
I believe one of the biggest impacts to existing finance could be the bond market and loan finance moving to decentralized finance - these are two massive areas of current banking system volume.
All IMHO - interested to see what others think.
GLA
NtD
will kr1 be involved with this digital currency?
https://twitter.com/RishiSunak/status/1384077410946019332?s=20
I have taken the opportunity to sell a stable divi payer and put the money in here for a short term add to my position. Whether BTC is a bubble or not, there is tremendous utility in this network of decentralized infrastructure defi finance and NFT's in particular. Therefore still see KR1 as the gem in my pf and with the staking income I will not worry too much.
GLA
NtD
The simple truth Brassneck is that you cannot value KR1 by the hour/day/month due to the volatility of these tokens.
The MM's just wait to see what buy and sell orders come in and mark up or down accordingly.
I agree that more formal reporting of staking yields as well as asset valuations would be more than useful.
Quarterly would be good given the size of the portfolio.
I guess IOU increasing the NAV by £16m overnight illustrates the volatility in the assets pretty well!
This level of change on a day to day basis makes it harder for the market to value the business. I do wish KR1 would provide a more detailed and regular view of the staking activity as this is one area that should be more stable and highlight the value of the business and expertise you are investing in.
A monthly update on all staking activity similar to ARB's operational report on BTC mining would be fantastic.
Well I preferred the look of the portfolio yesterday rather than today!
We're pretty aligned on portfolio and staking yields roley though I hope we don't have a 20% discount to NAV in normal trading conditions. Hopefully we'll get progress in the coming weeks on Moonbeam, Plasm and HDX all of which should be very positive for NAV. It's through these areas (plus staking yields) that I hope the market will justify a premium to NAV.
Part of the problem though is that it is all still so early in the life of crypto and these related technologies.
Should be a volatile few days.
I think the volatility is one key issue RaeDae.
I sense we will see KR1 settle into a discount to asset value - maybe around the 20% level we are starting to see last day or so.
I have asset value below £180m now so a 20% discount could see the share price down as low as 110p?
That said - Token prices could be any price come tomorrow morning.
It would also be somewhat unfair of me not to talk to Staking Yields as yield/income can well underpin the share price. Let's say Yield can hold at say $18m as yields fall with token prices - That equates to around £12.85m.
So at 110p or £144m the yield would seem to give solid protection.
Fingers crossed we have a rally in prices before tomorrow's open.
I thought DOT held up well. It's getting slightly confusing, is KR1 invested in NFT start ups. SP past week has not been affected when DOT broke 40 but if its done, kr1 should be down, honestly, I don't think it's a fair comparison but I'm a small PI, can't influence the SP. The management is sending out right signals with investments and appointments. To them, nothing has changed so if you want to hold, make extra profit or sell if you want to cut loss, whose to stop you. Maybe 4 50 end April far fetched but it has fallen a lot since its ATH. Nice to recoup
And the volatility highlighted in 24 hours.
Not looking at asset value until the coin prices settle but it is below £200m as we speak.
Great to see AltCoins flying this morning.
$315m = £228m
Mkt Cap £191m
Discount 16%