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Crypto weekly news #2

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Avatar for Jack216
Written by   28
2 months ago

Crypto weekly news #2

In todays special blog I'm going to cover this weeks weekly crypto news. Everything from NFTS, cryptocurrencies, and global news effecting crypto. Now as of now the cryptocurrency market is back to a bull run as of (10/2/2021). This is most likely to continue since we are now out of the bear September cycle. We can expect bitcoin and the rest of the cryptocurrency market to reach new heights never seen before with this new cycle. For this blog post I won't do a a price prediction of bitcoin because the cycle has just started and it's still to early to predict accurately. So now that we've gotten that out the way we can now get into the rest of the blog.      

Companies getting into the cryptos and nfts

As time goes we see more and more public companies getting into cryptocurrencies and especially NFTS. Especially big American media companies that have big audiences and viewers. Which is great for NFTS and cryptocurrencies overall in the grand scheme of things for multiple reasons but a few are their big audiences and influence. Such companies like DC comics are realizing NFTS can be great marketing tools so in their case they are releasing free Ethereum NFTS. They aren't the only ones though other companies of other nationalities are also taking action with NFTS for marketing such as Chinese media company tik tok which is releasing their very own NFT collection. Then finally American company twitter which has recently adopted bitcoin as a tipping service has also made it possible for NFTS to be used on twitter and to be shown off. Now moving onto companies adopting cryptocurrencies.   

Now a big electronic and card payment terminal company called VeriFone has recently made it possible for all of it's merchants to now accept dogecoin as payment. One of VeriFone's biggest merchants is taco bell which gives more incentives for the American public to start adopting cryptocurrencies. Not just that but it now also takes lead for other companies to get on track with what their doing and to start expanding how they receive payments to bring in a new order of customers and wealth to the business. Like I say this is just the beginning and is just proof we are slowly transitioning from a fiat currency only payment system to a binary payment system.      



The united states vs cryptocurrency

The united states has been on a rollercoaster this week for many reasons. For one lets start with the fact that the infrastructure bill has had Americans on their tippy toes because of regulations drawn up in the bill that are clearly not written well and we're not thought through fully. But also the fact that if this bill didn't pass that a majority of American federal workers would have been out of jobs despite the fact that the federal government is one of the largest employers in America. Which would have been really bad for crypto and just investing in America in general. But all that anxiety lead up to congress Thursday passing a short term funding bill to keep the government open until the bill can be passed an agreed on.    

Then on top of that lot's of people in the government and running for government have also come out and spoken out for bitcoin and cryptos. Such as a Ohio runner up senator who has come out in support of bitcoin saying that china banning bitcoin is just another reason for the U.S to start accepting and adopting it. But also because it gives power to the people and a great comparison of his is this gun's and crypto are ban in china because they give power to the people and let them make choices and crypto gives the power and control of the economy to the people.    



El Salvador getting into bitcoin mining

Now that el Salvador has expanded it's economy into bitcoin it now has a whole new world of oppurtinties to bring to its citizens of it's country. This could be directly or indirectly through bitcoin and cryptocurrency. However though one way bitcoin has brought in new jobs and benefited the economy is through bitcoin mining. They have now set up a bitcoin mining factory on a volcano to use it's heat for electricity that's renewable and clean to power their bitcoin mining machines. Besides mining crypto they are also bringing in high tech and very educational dependent jobs to the country. In a country that's trying to get out the third world one of the best things you can do is bring in high tech jobs. The reason for this is because one they are well paying but it also helps educate the public by spreading education and the government being able to acquire more taxes as well. Overall what I believe is if el Salvador continues down this path then it will further them down the road in prosperity and possibly bring them to the first world very very soon before you know it. Which will be a great example to the rest of the world to follow and model off of.   

 

     

 My Final Words

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