What's Happening in the Cryptoverse #2
It’s been another exciting few days in crypto. I was planning to send this on Fridays but as is the case with the crypto world, things move fast so here’s some midweek news.
El Salvador recently launched Bitcoin services across the country. In just a few short weeks, 50% of the country has a Bitcoin wallet. Preliminary anecdotal reports suggest that people are actually using Bitcoin for transactions in the country of a little more than 6 million people. Satoshi Nakamoto’s use case for Bitcoin is finally seeing a real world scenario play out. Keep a close eye on this “sovereign beta test”.
Google Partners With Bakkt to Bring Google Pay to Crypto Users
Digital asset marketplace Bakkt has partnered with Google to expand the usability of cryptocurrency. Thus, users will soon be able to add their Bakkt Visa Debit Card directly into Google Pay. Bakkt will also be using Google Cloud as its preferred cloud provider to market its services to leading US retailers and merchants.
Wyoming’s Senator Lummis Discloses Apparent Bitcoin Buy of up to $100,000
The senator’s purchase was from bitcoin brokerage River Financial. Lummis was a supporter of an amendment in Congress’s infrastructure bill in August that would exempt hardware wallet makers, cryptocurrency transaction validators, node operators and other non-brokers from tax regulations.
Top 10 Upcoming NFT Drops According To Survey Of 500 NFT Experts
We asked 500 NFT analysts to rate the attractiveness of 100 upcoming NFT drops. Here’s a rundown of the top 10 NFT collections based on the rating of these analysts. These projects are only just gaining momentum and therefore have the potential to yield some impressive ROI in the future.
Bitcoin for beginners: Here's what to know before you invest in crypto
Had you bought bitcoin in early April 2017, for example, you could have seen a 3,700% return in just four years.
But there also have been plenty of price plunges along the way. If you'd bought in mid-April of this year, you would have lost more than half your investment in just four months.
So if you're tempted to invest, here's some thoughts on what to consider before taking the leap.
The U.S. Replaces China as World’s Biggest Bitcoin Miner
Mining is the process by which transactions on the Bitcoin blockchain are executed. It uses a “Proof of Work” algorithm. The U.S. has become the world’s epicenter for Bitcoin mining after a crackdown in China effectively eliminated the practice in the former cradle of the industry.
Reese Witherspoon Gets Into Ethereum NFTs, Snoop Dogg Gives Advice
Actress Reese Witherspoon tweeted on Monday that she bought her first NFTs and rapper Snoop Dogg, an avid NFT collector, offered advice on one of the “most influential women” to follow in the space.
You may hear people talking about digital gold more often. They’re almost always referring to bitcoin. Bitcoin is widely used as an instrument for people to store some (or all) of their wealth. Some see Bitcoin as the 21st century alternative to gold because it’s fungible, easily transportable, programmable money and it allows for self-custody. I don’t want to throw too much crypto jargon at you but these are four very important aspects of why bitcoin has gone from a few bucks per bitcoin ten years ago to over $50,000 today.
What got you interested in bitcoin and crypto? Is it the tech? Is it because you hear people on CNBC and Bloomberg talking about it all the time? Share your thoughts by clicking below.
Meme / Tweet of the Moment
This isn’t just a meme. It’s a tweet - check out the thread if you have time to kill.
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