@cryptocracy
@cryptocracy
Bitcoin Rallies as Tether Dallies and Terra Lays a Tron Bitcoin rallies to **over $32,000**. Here’s something bitcoin has **never done before**. Of course, May was a rough month for bitcoin, but that hasn’t stopped the world’s leading cryptocurrency from maintaining its position as the **10th most valuable asset** in the world—two steps behind Tesla and one step behind Berkshire Hathaway. *How long will it take before it’s the world’s most valuable asset?*…
@cryptocracy
Crypto is Down and I Don't Care My May earnings are way down, for a couple of reasons. First, bear market! Well, I’ve noticed earnings have been sliding along with the prices in crypto. That’s nothing to sneeze about. But another thing happened early in May. TerraUSD (UST) depegged from the dollar and both it and LUNA crashed. I held neither. But, because Loop Markets is on the Terra blockchain, it also crashed. There went my earnings from previous months. The bright side is…
@cryptocracy
Will Coinbase, Tesla Cause the Crypto Winter? *Since I’m on a camping trip this weekend with my family, I’m going to keep today’s issue short. I hope you enjoy!* Crypto exchanges Coinbase and Gemini are **enacting hiring freezes** and downsizing. In Coinbase’s case, they’re also **rescinding some job offers**. Elon Musk has likewise issued a hiring freeze at Tesla and **reduced his company’s staff**. Musk even went so far as tell his employees to work in the office or he’ll…
@cryptocracy
Bitcoin May Be The Great Equalizer, But Depp Has NFT Power Bitcoin is destined to be **one of the best assets** on planet earth. *Some might say it already is.* It could also be the **ultimate equalizer**. https://finbold.com/bitcoin-will-be-one-of-best-assets-on-earth-after-inflation-subsides-says-commodity-strategist/ https://www.coindesk.com/business/2022/06/05/bitcoin-might-in-fact-be-the-great-equalizer/ The Bored Ape Yacht Club’s Discord server was hacked. Hackers got…
@cryptocracy
Will This Bi-Partisan Crypto Bill Pass Congress? A **bi-partisan bill** has been introduced in Congress that would draw a distinction between cryptocurrencies that are securities and those that are commodities. Ten ways this legislation could be **impactful**. *This would be landmark legislation if passed. It could also open up the floodgates of crypto investing across the land. Of course, that’s IF it passes. I’m not holding my breath. Are you?*…
@cryptocracy
Could a Class-Action Lawsuit Determine if Cryptocurrencies Are Securities? Earlier this week, a **bi-partisan bill** addressing the nature of cryptocurrencies seeking to define individual coins and tokens as either securities or commodities entered the national discussion on cryptocurrencies. **The National Law Review** has made some interesting observations regarding the legislation. Among those observations include:…
@cryptocracy
Are Small Businesses Leading Bitcoin Payments Adoption? Bitcoin miners in Washington state will see a **29 percent increase** in hydroelectric energy cost. Speaking of bitcoin, could it be that small businesses will **usher in the grand old age** of BTC as a payments channel? That’s possible, but Ethereum founding member Anthony Donofrio throws bitcoin **a sucker punch**. *Before you know it, all the bitcoin miners in the U.S. will end up moving to Texas. If that leads to…
@cryptocracy
Bitcoin Drops Below $24,000 Bitcoin has fallen **below $24,000**. Does bitcoin have any **intrinsic value**? *There’s a great discussion on intrinsic value going on at that last link. I encourage you to join in.* https://www.cnbc.com/2022/06/13/bitcoin-btc-falls-as-market-focuses-on-celsius-issue-fed-rate-hike.html https://www.publish0x.com/things-of-note-and-other-interesting-stuff/warren-buffett-is-correct-regarding-bitcoin-hear-me-out-xwynwep Celsius **halts all…
@cryptocracy
The Ballad of Bitcoin's Fall When the bear run started last year, I thought for sure bitcoin would fall to $20,000. It didn’t. **It fell to $35,000** and stopped, hovered in that neighborhood for a while. At one point, it bounced up to $47,000 before falling again. Since then, it’s been steadily declining, with two precipitous drops. https://coinmarketcap.com/currencies/bitcoin/?period=7d The first drop was in early May. You can see it in the above chart. On the right where…
@cryptocracy
Bitcoin's Big Crash Isn't Over Yet, Yo! 3 metrics indicate the bitcoin **crash isn’t over**. Still, BTC is **undervalued**. *Bitcoin Magazine* warns: As the price continues to fall, **don’t trust custodians**. *Read all three of these and take them to heart. The fall isn’t over, bitcoin is undervalued, and don’t trust custodians. If you don’t own the keys, you don’t the crypto.* https://cointelegraph.com/news/these-3-metrics-suggest-the-bitcoin-price-crash-is-not-over…
@cryptocracy
Bitcoin Is Losing in the Dark Markets Good morning! Today, my wife and I set sail (as in, hop in our Chevy Express 1500 van and travel from Pennsylvania to Texas). We’ll be on the road for about a week as we take our time and stroll through Virginia, North and South Carolina, Georgia, and the rest of the Bible belt toward my earthly home. We’ll be there for a couple of months. At any rate, today’s newsletter is short so that we can prepare the van for travel and get on the…
@cryptocracy
Elon Musk Sued for Dumping Dogecoin (Say What?) Bitcoin bounces, jumps above $20k again while Ethereum **shoots past $1,100**. El Salvador President Nayib Bukele addresses investor concern regarding the **bitcoin bear market**. How investors are **looking at bitcoin** right now. *Since El Salvador made bitcoin legal tender last year, investors surely want to know what he has to say.*…
@cryptocracy
The Madness Behind My Crypto Curation Method It amuses me that, in 2022, there are people who still don’t understand the fine art of curation. Now, I don’t claim to be a genius. I missed that mark in my 20s! Nevertheless, it must be said that there is a difference, a stark one at that, between news reporting and news curation. News reporting is finding something interesting to inform readers about, researching it, conducting interviews, and telling an original story that…
@cryptocracy
Uniswap Outruns Ethereum on Fees Uniswap has surpassed Ethereum in **network fees**. Harmony was hacked and thieves got away with **$100 million in ETH**, and Optimism **lost 20 million tokens** in Interlayer snafu. A new Chainalysis report shows that, despite an increase in Layer 1 blockchains, no one is close to **killing Ethereum** yet. *The news about Uniswap could very well mean we’ve entered the decentralized era. If decentralized exchanges become the most popular…
@cryptocracy
Is Bitcoin Dead? Ethereum’s electricity consumption dives **50 percent**. Bitcoin’s electricity consumption **took a nose dive**, too. Ethereum miners are reporting **less profitability** in recent months. A Chinese newspaper warns that bitcoin will **fall to zero**. Is bitcoin dead just because **the media says it is**? *Who listens to the media anyway? Do the Chinese? Most Americans don’t listen to it unless it confirms their biases.*…
@cryptocracy
Crypto Crash, Ripple, and Lunatics What are **bitcoin covenants** and how do they work? **(A MUST-READ)** Are miners selling off their bitcoin contributing to **bitcoin’s price problem**? *There are a lot of factors contributing to bitcoin’s price slump. I don’t think we should be worried. Bitcoin isn’t dead yet.* https://cointelegraph.com/explained/what-are-bitcoin-covenants-and-how-do-they-work…
@cryptocracy
SEC, CFTC Chairs Agree BTC Is a Commodity **Bitcoin mining revenue** mirrors 2021 lows, just before BTC leaped to all-time high (ATH). All the metrics say BTC has **hit bottom**. Still, traders fear a further **fall to $10,000**. Securities and Exchange Commission (SEC) Chairman Gary Gensler **calls bitcoin a commodity**. *This is more than significant. In May, Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam* ***declared bitcoin and ether*** *as commodities.…