@cryptocracy 25 April 2022 more from that month

Bitcoin's Environmental Impact and Ethereum's 2021 Gains While everyone is talking about the **recent dip** in the crypto market, the Central African Republic has adopted **bitcoin as legal tender**. El Salvador became the **first country** to do so in September last year. Bitcoin’s hashrate has hit an **all-time high**—again. One analyst is predicting a **bigger fall** in the short-term. Meanwhile, a quarter of all electricity in the U.S. is **powering bitcoin**. And 23 U.S. lawmakers are asking the Environmental Protection Agency to provide more oversight on **crypto’s environmental impact**, including bitcoin’s. https://www.moneycontrol.com/news/business/cryptocurrency/cryptocurrency-prices-today-april-25-bitcoin-down-polkadot-slips-most-8401231.html https://www.benzinga.com/news/22/04/26779008/this-sub-saharan-nation-just-became-the-second-country-adopt-bitcoin-as-legal-tender https://www.npr.org/2021/09/07/1034838909/bitcoin-el-salvador-legal-tender-official-currency-cryptocurrency https://news.bitcoin.com/bitcoins-hashrate-surges-reaching-a-lifetime-high-difficulty-expected-to-jump-next-week/ https://cointelegraph.com/news/something-sure-feels-like-it-s-about-to-break-5-things-to-know-in-bitcoin-this-week https://www.cnn.com/videos/business/2022/04/25/watt-dnt-bitcoin-mining-electricity-washington-nr-vpx.cnn https://news.bitcoin.com/us-lawmakers-call-for-more-oversight-of-cryptocurrencys-environmental-impacts/

Ethereum investors **earned more in capital gains** globally in 2021 than bitcoin investors. *It’s not hard to see why. Decentralized finance has benefited the Ethereum blockchain. Investors in bitcoin have one play: Bitcoin. What else is there to sink your money into on the Bitcoin blockchain? Very little.* Yet, **here are five projects** enabling smart contracts on the Bitcoin blockchain. *Still, everything leads to bitcoin.* https://www.financialexpress.com/digital-currency/bitcoin-vs-ethereum-which-of-these-two-cryptos-made-people-richer-and-why/2502441/ https://trading-u.com/ecampus/5-projects-enabling-smart-contract-development-on-bitcoin/ The creator of UST, Do Kwon, says Terra’s stablecoin will win when more blockchains **have stablecoins**. *Of course, so will Tether and USDC.* https://en.ethereumworldnews.com/ust-wins-when-more-blockchains-issue-their-own-stablecoins-terras-do-kwon-on-trons-usdd/ Coinbase CEO Brian Armstrong weighs in on the **future of crypto regulation**. *Honestly, his insight’s not so great. I’d call it “common sense,” but since I don’t believe in common sense I’ll just say he’s stating the obvious.* TechCrunch has **three questions** about Coinbase’s NFT push. https://dailyhodl.com/2022/04/24/coinbase-ceo-brian-armstrong-predicts-how-bitcoin-btc-ethereum-eth-and-other-altcoins-will-be-regulated/ https://techcrunch.com/2022/04/24/3-questions-about-coinbases-nft-push/ The U.S. Department of Treasury has **sanctioned three Ethereum wallets** connected to North Korean hackers. https://dailyhodl.com/2022/04/24/u-s-treasury-sanctions-three-ethereum-eth-wallets-with-ties-to-north-korean-hacker-group/ In 1991, long before the birth of bitcoin, then U.S. President George H.W. Bush coined the phrase “**New World Order**.” In his eyes, it had to do with the U.S.’s global responsibility to use its might to influence a gentle solidarity around the world (*ironic, eh?*). Today, the International Monetary Fund says **cryptocurrencies are ushering in** a new world order. This new world order, however, is more about freedom and less about solidarity. *Of course, free people are in a better position to voluntarily enter into relationships that produce solidarity.* https://www.foreignaffairs.com/articles/1992-03-01/what-new-world-order https://www.business-money.com/announcements/imf-is-right-cryptocurrencies-are-ushering-in-a-new-world-order/ The U.S. state of Tennessee is looking to **add cryptocurrency** to its balance sheet. https://www.taylordailypress.net/us-state-wants-to-put-cryptocurrency-on-its-balance-sheet-crypto-insiders/ How do you tell if an NFT is rare? Here are **five ways**. Even after tax season, NFTs are causing **accounting issues**. Before you go bonkers, be sure you know these seven **risks of NFT investing**. Oh, and Baby Doge now has its own **NFT collection**. *Unfortunately, its diaper needs changing.* https://streetwisejournal.com/how-to-tell-if-an-nft-is-rare/ https://www.forbes.com/sites/seansteinsmith/2022/04/24/nfts-are-continuing-to-cause-accounting-issues-even-after-tax-season/?sh=62ca6d1f7ed5 https://www.forbes.com/sites/naveenjoshi/2022/04/24/7-risks-investors-need-to-know-before-jumping-headfirst-into-the-nft-bandwagon/?sh=248a4152489d https://tokenhell.com/baby-doge-releases-much-awaited-non-fungible-token-collection/ **Crypto donations for politicians** is on the rise. *Surely, this will have an impact on any potential legislation they write. Surely?* https://www.npr.org/2022/04/24/1094538874/political-donations-by-cryptocurrency-are-on-the-rise How the metaverse is destined to **change cryptocurrencies**. *This* Forbes *article doesn’t go very deep. Honestly, there’s a lot more that could be said about this. Still, it bears mentioning that the metaverse, which is a long way off yet, will change cryptocurrencies to some degree. Then again, it will change our perception of reality.* https://www.forbes.com/sites/bernardmarr/2022/04/25/how-the-metaverse-will-change-cryptocurrency/?sh=cfe83334fe47 More than 21% of college students have **used student loan money** to invest in cryptocurrencies. *I wonder how many of them have dropped out of school due to financial challenges?* https://finance.yahoo.com/news/using-student-loans-invest-crypto-211122834.html Germany’s Commerzbank is hoping to become a **digital asset custodian**. https://coingeek.com/germany-commerzbank-seeks-license-for-digital-assets-custody/ Footballer (*soccer player for U.S. readers*) and goalkeeper Emilio Martinez creates an NFT character for the metaverse game **MetaSoccer**. Just so you know, legal ownership in the metaverse **isn’t as simple as it seems**. Someday, we could each have our own **personal Netflix**. The U.S. Air Force wants to fly into the metaverse and has filed a **trademark application**. Oh, and have you **prepared your children** for the metaverse? *If not, you should. Or, you could just let them discover it on their own and they’ll teach you when they’re old enough.* https://www.marca.com/en/technology/fan-tokens/2022/04/24/62655421268e3e455a8b457f.html https://japantoday.com/category/tech/can-you-truly-own-anything-in-the-metaverse-a-law-professor-explains-how-blockchains-and-nfts-don%27t-protect-virtual-property https://www.jpost.com/business-and-innovation/banking-and-finance/article-704996 https://www.pymnts.com/metaverse/2022/us-air-force-files-for-metaverse-focused-trademark/ https://timesofindia.indiatimes.com/blogs/voices/metaverse-for-kids-preparing-children-for-a-creators-economy-and-a-mixed-reality-future/ One super-smart hacker managed to pull off a **$1 million heist**—almost. He left the money in a self-destructing smart contract. *I’m thinking if you’re smart enough to steal $1 million, you shouldn’t be stupid enough to destroy it.* https://www.thecoinrepublic.com/2022/04/24/hacker-left-1-million-in-smart-contract-programmed-to-destruct/ The SEC has issued its largest fine ever—**$100 million**—against BlockFi. *You can bet they’ll go after other crypto lending firms soon. They’ve already got their eyes on* ***Celsius and Gemini****.* https://trading-u.com/ecampus/the-sec-fines-dapp-100-million-in-its-highest-ever-fine/ https://www.bloomberg.com/news/articles/2022-01-26/crypto-lending-firms-celsius-network-gemini-face-sec-scrutiny *Snark and commentary in italics.* Cryptocracy is a decentralized newsletter published 4 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.* https://cryptocracy.substack.com/p/bitcoin-is-making-big-bold-moves?s=w Image credit: Bitcoin.com