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 assume they’ve resigned. CoinDesk asks if this is the first sign of a crypto winter. I don’t know if it’s the first sign of a crypto winter, but it could trigger a recession.…
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. If there’s one thing Americans love, it’s a good drama. For the past month, they’ve had their thirst quenched with the Johnny Depp-Amber Heard defamation lawsuit (Jack Sparrow v. Mera). Nevermind the outcome, after the verdict, Johnny Depp’s NFT collection soared to the moon. Just one more evidence that Americans admire bad boys more than…
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? Bitcoin fell below $30,000 again. Could Nancy Pelosi’s investment in Apple be a clue…
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: https://read.cash/@cryptocracy/could-a-class-action-lawsuit-determine-if-cryptocurrencies-are-securities-df3b79cc
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 mass adoption, so be it. Screw the sucker punches.…
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. Celsius halts all tractions. Could there be more to this than a market downturn? The Commodity Futures Trading Commision (CFTC) has a beef with Gemini exchange and is taking action. I figured it was bound to happen after the attention Coinbase received in a class-action lawsuit. Tron DAO buys $60…
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://read.cash/@cryptocracy/the-ballad-of-bitcoins-fall-03ed296c
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. Will Ethereum’s Merge be good or bad for the price of ETH? This editorial suggests it will be bad. 3 experts predict where the price of bitcoin and ether…
If you think crypto winter has battered bitcoin investors, then you need to talk to a bitcoin miner. Here’s why bitcoin mining will never go away. Russia could be preparing to mine bitcoin with flare gas. Yet, bitcoin is losing ground in the dark markets (A MUST-READ). At this point, if some bitcoiners wanted to transition away from proof-of-work, I don’t think they could. https://read.cash/@cryptocracy/bitcoin-is-losing-in-the-dark-markets-50af91b8
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. Elon Musk is being sued for dumping Dogecoin. The claimant accuses Musk of racketeering. If he’s guilty, he should be charged with a criminal case against…
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 enlightens, entertains, and provides value to…
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 exchanges, and there are many reasons to believe they…
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. https://read.cash/@cryptocracy/is-bitcoin-dead-0f4cebcf
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. Ripple CEO Brad Garlinghouse says Ripple will move out of the U.S. if the company loses its lawsuit with the SEC. This may appear to be an idle threat. Quite often, we hear celebrities say they’ll move out of the…
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. While Gensler has yet to determine the status of ether, his…
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