Bitcoin's 'Extreme Fear' Run + Ethereum's Merge
Bitcoin has entered the longest “extreme fear” period in its history. Blockchain CEO says bitcoin mining will continue to flourish in the U.S. Limiting crypto mining helped the Texas power grid.
Ethereum developers put a date on the Merge: September 19. The price jumps 13 percent as whales shore up positions. How the Merge will reduce Ethereum’s carbon footprint. There have been a lot of promises made regarding the Merge’s impact on Ethereum, its gas prices, the environment, etc. If the biggest upgrade in crypto’s history fails, it will not bode well for the ecosystem. Can you say “Blockchain Armageddon?”
Coinbase is temporarily shutting down U.S. affiliate program. Is the exchange losing its dominance? On the bright side—or the funny side, if you will—Coinbase will premier comedian Bill Murray’s biographical NFT collection.
Celsius shows a $1.19 billion deficit. SEC Chair Gary Gensler discusses crypto lending protections.
DeFi coins outperform bitcoin and ether.
Ripple survey: 70 percent of financial leaders believe central bank digital currencies (CBDCs) are the future of fiat. Where central banks have issued CBDCs. Nasdaq provides 6 design principles for CBDCs. 105 countries are working on a digital currency. I agree with the 70 percent. Fiat money will not likely go away any time soon, but CBDCs will rise in importance and practice.
Binance CEO expects inflation to hit 500 percent.
CoinFLEX limits withdrawals, locks most assets. Are you seeing the trend here?
U.S. crypto mining rivals energy use of Houston. One can’t help but wonder how Ethereum’s Merge will impact energy use data in crypto mining.
Craft beer has entered the cool new space of NFTs. Non-fungible tokens have also found their way into the cannabis garden. Car makers are cautious, however. Jay and Silent Bob are getting their own NFT collection. And the NFL is offering commemorative ticket NFTs to 100 games in the 2022 season. Will we ever stop seeing creative uses for NFTs? I think not.
Web3 threatens to democratize donations. Like NFTs, cannabis has discovered the wild and wonderful world of Web3.
If the metaverse was a movie, would it be a comedy? Open and closed metaverses: What’s the difference? Advertising and privacy in the metaverse. Surveillance in the metaverse. If you read anything about the metaverse, let it be Matthew Ball’s guide. Don’t buy the hype. Keep your eyes open. Just as all promises of utopia in the past, someone is going to abuse the opportunity.
Will decentralizing drug research fix the disease problem?
Crypto fraud comes to ATMs. Bitcoin of American adds ZCash to its ATMs.
Putin limits digital assets payments in Russia.
Central African Republic launches Sango Coin. Sales to begin soon.
South Africa plans to regulate cryptocurrencies as a financial assets.
Snark and commentary in italics. Why should Saturday be any different?
Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.
First published at Cryptocracy. Not to be construed as financial advice. Do your own research.
Image credit: IntoTheBlock via CoinDesk