Boxmining Newsletter #1

Boxmining Newsletter #1

Congratulations Everyone – You’re officially a founding member of this Newsletter! We’ve already doubled our subscriptions in the past week due to increased interest (WOOT). At the same time, crypto is moving at light speed – with new projects getting created, traded, and listed on top exchanges in the space of 2-3 days. Here’s a rundown of all that’s happening:

Post-Bitcoin Rally 

Bitcoin made some major moves on Monday, shooting up all the way to $11,000 after a long dormant period. Initially, this shocked many traders, with many scrambling and selling their altcoins to jump on the Bitcoin train. FOMO is the name of the game these days, and many were hoping Bitcoin would shoot as high up as $14,000 / $17,000. However, Bitcoin didn’t go there – instead she seemed to settle down at $11,000 without much volatility. With the big cat sleeping, the mice (altcoins) are out to play. We’ve seen some insane rallies for YFI (+225%), Elrond(+65%), and UMA (+60%) this week. 

Yield Farming 
After $YFI blew up last week, yield farming is front and center on everyone’s discussion table. We covered YFI both on our website and in a video In a quick summary, liquidity mining is essentially saving money in different liquidity pools. Miners will then be rewarded with token distributions (such as YFI) that can yield up to 1000% APR. Obviously, with such rewards, it’s highly risky and experimental. We definitely recommend that you check out the video and Do Your Own Research (DYOR). Currently, YFI yield farming is taking a pause as a new contract is being deployed. 

YFII Launches
Nope, that’s not a typo. A new project called YFII has launched – forking the YFI project and allowing yield farmers to earn the YFII token. What’s unique about this project is that it distributes YFII tokens with a weekly “halving”, similar to Bitcoin. The release of this project comes at a very convenient time as $YFI mining is currently taking a break, so farmers are left with yCurve tokens wondering what to do. YFII allows the staking of yCurve tokens in a similar fashion and UI to $YFI (it is a fork after all) This is highly controversial due to it’s rushed nature of its release, with metamask, balancer, and etherscan users quickly flagging the project as a “Scam”. This is due to two reasons, as there was an initial “owner key” for YFII which allowed the owner to create infinite tokens. However, recently this key has been destroyed. This means it’s not really a “scam”, and the community for YFII is currently building up. 

Zeus Capital Vs Linkchain
Recently Zeus Capital has taken up a major campaign against Chainlink (LINK) calling it a “scam” and giving a valuation of $0.07 (1% of its current value). Not only have they released a long report, but recently they have been caught paying influencers to make negative price charts on LINK. It’s clear they have taken up a massive short position and will benefit from LINK’s price going down. I find this a more mature version of the FUD and HYPE cycles we experience in crypto –  and highlights the importance of DYOR – you need to be prepared for both hype and FUD. 

Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.

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Michael Gu, Creator of Boxmining, stared in the Blockchain space as a Bitcoin miner in 2012. Something he immediately noticed was that accurate information is hard to come by in this space. He started Boxmining in 2017 mainly as a passion project, to educate people on digital assets and share his experiences. Being based in Asia, Michael also found a huge discrepancy between digital asset trends and knowledge gap in the West and China.


  1. Congrats on the Newsletter!
    Loved the content.
    Knowledge is Power…they say.

    Question…I am interested in purchasing Bitcoin via Ledger Nano X. I do not want to go through Coinbase. I do not want to be tracked by IRS. I live in the U.S. Anyway to get around this? Thank you in advance for guidance.

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