Crypto Crash and Gelato #illumedati


Hey everyone, it’s Whatever Wednesdays again. Normally I talk about crypto, and I will again today, but I also want to talk about something else, gelato. This have nothing to do with one another at all. Ok, so let’s talk about “Crypto Crash and Gelato”.

Stock Photo from: Pexels

Crypto Crash and Gelato

First things first, it doesn’t take an expert to see that the crypto market is going down:

Coinmarketcap 5-23-2018

This “sea of red” shows that just about everything in the top ten is down between 6-12%. Some analysts have been saying that because Bitcoin continues to fail to go above the $8200 mark that we were going to see a “crash” or “dip” or whatever you want to call it. And well, it happened.

How far will it drop? Analysts previously though it would go to $7800, but it’s already below that — so we’ll see I guess.

Is this the end?

Nope, just another dip/correction/crash which is the norm in the world of crypto.

So what will you do? Will you be like this?

or like this?

I think your reaction to this market will be heavily based on three things:

  1. How much money you put into crypto
  2. Belief in your investments
  3. Experience in the crypto wild west

Hmm…

Like I’ve said, please, please, please don’t treat crypto like an investment. It’s really the wild, wild west. There are many players at behind the scenes with lots of money that will squash you like a bug if you are day trading in this market. For this reason, don’t put in more than you can afford to lose. I think this should be in the realm of what you are ok losing at the tables in Vegas, but of course, this is dependent on your own risk tolerance.

If you believe that the projects you invested in are sound, then you should believe that they will survive a crash. Additionally, you believe that they will survive a real crash where many projects cease to exist. However, if you are invested in some pump and dump coin of the week, then you have reason to be scared. Also, even if you are invested in a project that you believe has strong fundamentals, with strong backing, and a strong community behind it — that doesn’t mean it’s safe. It could still go to zero. Remember my 4 Pillars of Crypto Investing (Gambling) post. How likely is this coin to go to zero?

This may sound kind of dumb, but experience matters. I’ve only been following the market for the last 9 months or so, but I’ve already seen many crashes, and that one huge run up and crash that we had in December/January. At this point nothing really surprises me anymore. Tomorrow we could see Bitcoin at $5k or we could see it at $10k, neither of these possibilities would surprise me.


Ok enough about Crypto, let’s talk Gelato

What is Gelato?

I think many people know that Gelato is “Italian-style” ice cream. (Technically, Gelato is just Italian for ice cream) But do you know what makes it different?

Gelato has a different texture than ice cream, “creamier” or “silkier”. The reason for this is because it while it uses less butterfat than ice cream (5-10% versus 15-25%), it also uses less air. This allows it to feel more “dense” even though it has less butterfat. Additionally, ice cream and gelato are served at slightly different temperatures. Ice cream is generally served at -6 degrees F, whereas gelato is served at a slightly higher temperature at about 5-15 degrees F. For this reason gelato shouldn’t feel “hard” when it is scooped.

Why the sudden interest in gelato?

Oh, it’s not sudden. My wife and daughter love gelato. Whereas my son and I will eat it, we don’t necessarily crave it. We’ve tried gelato at a number of places throughout Oahu, but the best gelato, according to my wife is from a little gelato place next to the Nordstrom’s at Ala Moana Center. It’s actually called Nordstrom’s Gelato Bar.

My wife and daughter really like the birthday cake gelato they have there. Their go-to combinations are:

  • Birthday Cake / Cookies and Cream for Kylie
  • Birthday Cake / Kona Coffee / Mystery for my wife

My wife decides on the 3rd flavor on the spot, depending on how she feels that day. As for me, I like any of the three, but if I had to choose only one, it’d be Birthday Cake.

Here’s the interesting thing, Nordstrom’s gelato actually sources their gelato from a little place just down the street Ala Moana Center, it’s called La Gelataria. All they make is gelato on a wholesale basis. I assume that it goes to lots of different places throughout the island, or maybe different venues/events.

I’ve known about La Gelataria as being the source for the Nordstrom’s Gelato Bar for awhile, but I never had the chance to check it out until yesterday. It’s a small little shop on a one-way side street, with a few parking spaces. When you walk in, the place is literally just a bunch of freezers and a few small signs with prices for single serve, pint, and 5 quarts. Since they’re primarily a wholesale place, they don’t carry many pints, so they were all out of pints of Birthday Cake. I briefly considered buying a 5 quart bucket, but I decided against it since my freezer didn’t have much space.

So what did you buy?

I ought a pint of Cookies and Cream, single serve Kona Coffee, and a pint of Strawberry. It’s important to know that this place carries some flavors that the Nordstrom’s Gelato Bar doesn’t (at least not yet). Strawberry is one of those flavors. It looked good to me, but the real test would be my wife and daughter at home.

They tried them all and Cookies and Cream and Kona Coffee are just as good. However, because we don’t have a freezer especially tuned to the right temperature, we had to leave it out a little bit to let it melt a little. We also all agreed that the Strawberry was really good.

Long story short, I like La Gelataria. I think I’m going to go get 5 quarts of Birthday Cake for my wife’s birthday in July. Just need to make sure my freezer has enough room.

However, I don’t think this will stop my wife and kids from getting gelato from the Nordstrom’s Gelato Bar whenever they’re there. Convenience matters. Also, I can tell the Nordstrom’s Gelato Bar keeps their gelato at the right temperature — this is a complaint my wife has of other gelato places. Gelato isn’t ice cream, temperature matters.


TL;DR

Another day, another crash.

Don’t invest more than you can afford to lose. (please)

Gelato is great, but do you know what makes it different/better than ice cream?

Nordstrom’s Gelato Bar at Ala Moana Center is the best gelato on Oahu (my wife says so, so it must be true).

They get their Gelato from La Gelataria.

Whatever Wednesdays Sensei

-Sensei

Agree? Disagree? Questions, Comments and Suggestions are welcome.

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