Even Ethereum Layer 2 Solutions Are Earning Significantly Higher Fee Revenue than Bitcoin

Ethereum is a clear winner when it comes to earning fees. This second-largest network generated $22.6 million in transaction fee revenue in the past 24 hours and more than $45 million on a 7-day average.

When it comes to its competitors, Binance Smart Chain (BSC) made $1.68 million in 1-day fees but still comes at 3rd place while Avalanche is doing just under $268k, Cardano $49k, and Polkadot $253, according to CryptoFees.

It is the popular DEX Uniswap that is the second-highest fee earner at just over $3 million. As for other decentralized finance (DeFi) projects, Aave is recording $1.3 million, SushiSwap $1.2 million, Compound $996 million, MakerDAO $140k, and Polygon $33k in the past 24 hours.

In all of this, the largest network, Bitcoin, falls at 9th place by generating roughly $400k in 1-day fees. This low fee is resulting in a drop in revenue from fees as a percentage of total miner revenue to a mere 1.3%, the lowest since January 2020.

The use of Layer 2 solution Lightning Network could also be a reason for this, whose capacity has been increasing throughout the year, going from 1,050 BTC to a new ATH of 2,583 BTC now.

Even Arbitrum, Ethereum Layer 2 solution, generated more fees at over $613k than Bitcoin. Arbitrum’s competitor, meanwhile, comes just a step below Bitcoin at roughly $332k.

Arbitrum has been outshining the EVM-compatibility competitors despite a flurry of liquidity mining announcements coming from Avalanche, Fantom, and Harmony.

On Sept. 10 and 11, Arbitrum’s bridge contact recorded a sharp increase that sent its total value locked (TVL) to $2.1 billion, from $173 million.

However, most capital in Arbitrum right now is farming speculative projects. But with projects like Aave, Balancer, Chainlink, Coinbase Wallet, DAI, Curve, Cream Finance, Etherscan, Gnosis Safe, Infura, Metamask, OKEx, Nansen, perpetual protocol, Sushi, The Graph, Tether, USDC, Uniswap, WBTC, Zapper, and many others soon to be deployed on Arbitrum, this could change really quickly.

According to Dune Analytics, TVL on Arbitrum Bridge jumped another 25% in the past week to $2.7 billion, while a 51% increase was recorded on Optimism ERC20 Bridges, standing at $37.6 million.

Arbitrum Bridge currently accounts for 34.6% share of Ethereum bridges TVL followed by Polygon ETC20 Bridge at 30.4% share, Avalanche Bridge at 24.4%, and Fantom Anyswap Bridge at 6.3%.

When it comes to the breakdown of assets being bridged out of Ethereum, WETH/ETH, USDC, USDT, DAI, and WBTC account for nearly 90% of asset value.

Daily unique validators on Arbitrum are currently 81, down from the 588 peak from last week. Optimism saw a huge jump in deposits on Sept 11 as it went from 234 to 9828 in a day only to get more than halved in the next couple of days and currently at 446.

Arbitrum’s take-off in early September actually coincided with a sharp decrease in the daily median gas price on Ethereum mainnet. But it’s to be seen if it is just a coincidence or a causal relationship as NFTs also lost steam around this time, which has been the biggest contributor to the increase in gas prices.

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Author: AnTy

Dogecoin (DOGE) Resumes its Rally as the Meme Coin Heads to the Premier League

The billionaire owner of Dallas Mavericks Mark Cuban comes in support of DOGE yet again, saying it is “spendable, usable, gamified, memified, collectible and fun,” making it the ‘strongest’ cryptocurrency as a medium of exchange.

Watford Football Club players, which became the world’s richest soccer league this year, will wear a Dogecoin (DOGE) logo on their sleeves for the 2021-2022 season as part of their sponsorship deal with gambling company Stake.com, The Athletic reported on Saturday.

The Premier League is a hot target for sponsors due to the fact that it’s the most lucrative soccer league in the world, with 5.86 billion euros ($6.92 billion) of revenue in 2019 – according to UEFA.

Watford, however, is no stranger to crypto as for its 2019/20 Premier League season, it sported a Bitcoin logo on its shirts as part of a sponsorship deal with Sportsbet.io.

Sports and crypto tie-ups are actually becoming more and more common as recently football star Lionel Messi signed a new contract with Paris Saint Germain, and as part of it, he will be paid partly in crypto fan token PSG.

Digital asset exchange Crypto.com is also sponsoring the Aston Martin Formula 1, team.

Cryptocurrency exchange FTX is particularly known for its partnerships which inked a $135 million deal with Miami-Dade County to name the home of the Miami Heat “FTX Arena.” This year, FTX also partnered with Major League Baseball (MLB), eSports Team TSM, NFL quarterback Trevor Lawrence, and more recently signed popular NFL player Tom Brady and Shark Tank’s Kevin O’Leary as an ambassador.

“DOGE Is The People’s Way To Pay”

This time, it’s DOGE, which rallied over 41% in the past week and more than 63% in the last two weeks.

Trading at about $0.34, DOGE is still down 54% from its all-time high in early May. Still, so far, in 2021, it is up a whopping 5,818%.

With a market cap of $44 billion, Dogecoin is currently the 7th largest cryptocurrency. Started as a joke in 2013, Doge is based on Shiba Inu dog, which counts Tesla CEO Elon Musk among its fans.

Billionaire Mark Cuban is another fan who yet again came in support of Dogecoin, saying it is all about the community, and that’s what makes not only DOGE work but also other cryptocurrencies, making DOGE “spendable, usable, gamified, memified, collectible and fun,” he said.

It’s not that Cuban prefers DOGE over BTC,

“They are completely different. But to say DOGE doesn’t have a place is wrong.”

As for 5.2 billion DOGE mined every year, “It’s a declining inflation rate,” which is good for the coin because “Finite supply / Scarcity only works for Stores of Value like BTC. Which is one of the reasons BTC will always struggle to be a currency,” said Cuban.

The owner of Dallas Mavericks further talked about how DOGE is really cheap, where $1 can get one 337 DOGE (at current prices) and “have fun as part of a fun community.”

“I would argue that it is cheaper because the time it takes to figure out how to buy it and the cost associated with buying it is much less. You can buy 25c worth on RH (Robinhood) for 25c.”

The latest discussion began as last week, Cuban announced that they would soon be launching a Mavs summer merch sale with special pricing for those who pay with Dogecoin and said in an interview that dogecoin is the ‘strongest’ cryptocurrency as a medium of exchange.

In response to the Shark Tank investor’s claims, Elon Musk also chimed in with, “I’ve been saying this for a while.”

In a separate tweet, Cuban said while his company allows people to pay in any crypto, 95% of the sales are in DOGE, and while people can argue which crypto is the best, customers have chosen.

“We can argue everything and anything re BTC, but right now DOGE is the people’s way to pay. #DOGEFACTS”

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Author: AnTy

Google Reversing Stance on Anti-Crypto Advertising Now Comes into Effect

Google Reversing Stance on Anti-Crypto Advertising Now Comes into Effect

“Beginning August 3, advertisers offering Cryptocurrency Exchanges and Wallets targeting the United States may advertise those products and services,” said Google in June 2021, when it reversed its anti-crypto advertising stance.

Back in mid-2018, Google banned crypto and initial coin offering (ICO) related advertisements but now regulated entities are allowed to market their services.

This new policy will apply to Google search and its third-party sites, including YouTube and Gmail.

Advertising sales generate $147 billion in revenue, more than 80% of Google’s parent company Alphabet’s total revenue. And with the public interest in cryptocurrencies high, this reversal could help boost its advertising sales further.

According to the updated Financial product and services policy, Google allows ads for cryptocurrencies and related products and services in limited circumstances due to the “complex and evolving nature of regulations” related to them.

The tech giant allows crypto exchanges and wallets to advertise on its platform if the account is certified by Google and the advertiser is a licensed provider registered with the FinCEN or a federal or state-chartered bank entity.

The products advertised along with the ad must comply with the local laws and industry standards as well.

Meanwhile, businesses not pertaining to the purchase, holding, or exchange of crypto, such as those accepting payment in crypto, crypto mining hardware, and platforms that rely on blockchain for operations, are subject to other Google Ads policies.

What’s not allowed is ads for ICOs, promoting purchase, sale, or trade for crypto, or DeFi trading protocols. In its non-exhaustive list of examples not allowed, Google also mentions crypto loans, initial DEX offerings, token liquidity pools, celebrity cryptocurrency endorsements, unhosted wallets, unregulated DApps.

Ad destinations that aggregate or compare issuers of cryptos such as trading signals, investment advice, aggregators, broker reviews, or affiliate sites containing related content aren’t allowed either.

Just last month, popular social media platform TikTok announced the ban on the promotion of investments, including cryptocurrency ads. While its ad policy stated that financial services are allowed to be advertised to users over the age of 18, crypto-related ads are altogether prohibited on the platform.

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Author: AnTy

Liquidity Mining Comes to Lending Protocol Aave V2

Liquidity Mining Comes to Lending Protocol Aave V2

This latest feature in Aave, which currently accounts for 17% of the crypto lending sector with Compound in the lead with 53% share followed by MakerDAO at 30%, could be expected to “kickstart DeFi Summer 2.0.”

Liquidity mining is officially coming to lending protocol AAVE as Aave Improvement Proposal 16 gets passed with 62% support.

Introduced last week, the AIP introduces liquidity mining rewards for Aave V2. As per this proposal, 2,200 Staked AAVE (stkAAVE) will be distributed per day, representing around $1 million in rewards distributed daily to lenders and borrowers.

stkAAVE are rewarded instead of AAVE in order to align long-term incentives, disincentivize speculative farmers, and allow users to earn an underlying yield on top of the AAVE they earn.

According to the proposal, this will give LPs more governance weight up front and secure the protocol by increasing the amount of AAVE staked in the Safety Module.

These rewards will be allocated on a pro-rata basis across the markets based on the dollar value of the borrowing activity in the underlying market.

Estimated APR is, for DAI 12.67% – 37.6% on supply and borrowing respectively, on USDT 14.25% – 41.7%, on USDC 15.87% – 43.2%, on ETH 5.65% – 1.65%, and on BTC 6.25% – 1.85% ETH 11.54% Ethereum / USD ETHUSD $ 2,534.69
$292.5011.54%
Volume 34.96 b Change $292.50 Open $2,534.69 Circulating 115.63 m Market Cap 293.09 b
5 h Tether Surpasses $50 Billion Market Cap As Coinbase Pro Adds USDt 7 h Ethereum Targeting October for The Merge through Scaling Project ‘Rayonism’ 8 h Liquidity Mining Comes to Lending Protocol Aave V2
BTC 10.90% Bitcoin / USD BTCUSD $ 53,972.62
$5,883.0210.90%
Volume 58.08 b Change $5,883.02 Open $53,972.62 Circulating 18.69 m Market Cap 1.01 t
5 h Social Investment Network, eToro, Adds ‘Bitcoin Value Chain’ Stock Portfolio Tracking 5 h Tether Surpasses $50 Billion Market Cap As Coinbase Pro Adds USDt 8 h Liquidity Mining Comes to Lending Protocol Aave V2

The motivation behind introducing liquidity mining rewards is to grow lending and borrowing activity in targeted markets, now that almost every major DeFi protocol is launching a liquidity mining program.

Rewarding AAVE to users also leads to broader distribution and protocol decentralization, ti said.

In response to this, the price of AAVE surged more than 20% to $387. The $4.86 billion market cap coin is currently up 330% YTD.

According to some, this AIP could turn out to be “monumental” for DeFi and very well be the “catalyst to kickstart DeFi Summer 2.0,” just like Compound Finance’s liquidity did the original DeFi summer.

“This comes together to form a reasonable narrative for why ETH-based DeFi apps are due a re-rating,” said Wangarian, Capital allocator at DeFiance Capital.

Aave currently accounts for 17% of the lending sector in the crypto market, with Compound in the lead, having captured 53% of the market share, followed by 30% by MakerDAO. COMP 1.66% Compound Coin / USD COMPUSD $ 0.00
$0.001.66%
Volume 49 Change $0.00 Open $0.00 Circulating 53.73 b Market Cap 48.71 K
8 h Liquidity Mining Comes to Lending Protocol Aave V2 1 w Citibank Covers DeFi, says Open Financial Platform Enables ‘Greater Innovation and Competition’ 2 w Total Value Locked (TVL) in DeFi Surpasses $100 Billion; Revenue is Ready to Hit $1 Bln
MKR 6.02% Maker / USD MKRUSD $ 4,016.19
$241.776.02%
Volume 297.03 m Change $241.77 Open $4,016.19 Circulating 995.24 K Market Cap 4 b
8 h Liquidity Mining Comes to Lending Protocol Aave V2 1 w Citibank Covers DeFi, says Open Financial Platform Enables ‘Greater Innovation and Competition’ 2 w MakerDao Proposes D3M to Integrate with AAVE & Expand Stablecoin DAI Across DeFi

The number of outstanding loans has reached ATH of ~ $10b across Aave, Compound, and MakerDAO.

The lending sector went parabolic during Q1 2021, with DeFi’s most popular lending platforms reaching the highest ever $25 billion.

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Author: AnTy

Bitcoin Seeing Strong Bullish Action But ‘Beware the Ides of March’

Any extreme March volatility, however, is temporary when it comes to $1 trillion cryptocurrency’s longer-term uptrend, says Delphi Digital.

The price of Bitcoin is enjoying an uptrend, marking a positive start to the week. Trading above $54,000, BTC price is just 8% away from its all-time high of $58,300.

While the leading digital currency has recovered from the losses, the market isn’t confident yet that it is all over for bears, given that it is March which has been a historically bearish month for Bitcoin’s price.

Also, 100k Bitcoin options are outstanding for the March expiry, which points to continued volatility.

As Delphi Digital says, “Beware the Ides of March,” which refers to Roman, who considered it to be a deadline for settling debts. The research firm notes how March has usually been a volatile time of year for bitcoin, which is no different this time.

Starting 2021 with its best performance since 2013, Bitcoin’s price nearly doubled in value over the first seven weeks of the calendar year. Even after the sell-off at the end of February, the crypto asset recorded its 5th consecutive month of gains.

But the price tends to struggle between mid-February and late March, just as we see a 21% correction over the last week of February, much like all the other times.

“BTC volatility tends to pick up in March, albeit from above-average levels when compared to traditional assets,” noted Delphi Digital.

Beware the Ides of March

Source: Delphi Digital

Bitcoin isn’t alone in this either, we have been seeing Ether struggling, falling under $1,300 during the sell-off, and it was on Monday that it finally went above $1,800 since that day.

However, 30% to 40% drawdowns in the crypto markets are commonplace and “do not change the current long term bull trends.”

“We have no reason to believe that the peak for BTC is behind us this cycle. Bitcoin is still outperforming every major asset class by 40-50 points YTD.”

Despite the heightened volatility, the end-of-year breakout was a strong confirmation of its uptrend. Not to mention, these past few months, Bitcoin has been “transitioning from taboo to accepted amongst institutions. This gives BTC a stronger floor in case of another violent selloff.”

Goldman Sachs Group Inc. revealed recently that it sees substantial demand for digital assets from institutions. In its survey of nearly 300 clients, 40% currently have exposure to crypto.

Besides the investment giants, insurance companies are also pouring in with more and more corporates wanting to add Bitcoin to their balance sheet. As we have been reporting, the Bitcoin fund AUM also continues to surge month over month.

And with the traditional safe haven struggling, gold and precious metal are down over 10% YTD, combined with Bitcoin getting more attention, Delphi Digital says, “we are seeing a greater divergence in fund flows between Bitcoin investment products and the world’s largest gold ETFs.”

As such, any extreme March volatility is transitory compared to the $1 trillion cryptocurrency’s longer-term uptrends, observes the firm.

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Author: AnTy

Indian Government Looks to Ban Cryptocurrency Trading With New Law

India is not new when it comes to harsh and unfriendly cryptocurrency laws. Now, Bloomberg reports that the country is set to introduce a new law which will ban cryptocurrency trading within its borders.

Citing anonymous sources, the report states that India’s federal cabinet is set to discuss the bill prior to being sent to the parliament.

The report states that the Indian government will continue encouraging and supporting the growth of blockchain technology but will discourage crypto trading.

In 2018, Indian central bank instituted a ban on all crypto transactions following numerous cases of frauds prior to the sudden decision to ban about 80% of the country’s currency by Prime Minister Narendra Modi. However, the decision was rescinded in March this year after a successful filing of a suit in the Supreme Court by various crypto-based firms operating in the country.

The lifting of the ban saw almost a 450% increase in crypto trading in just two months from March. Paxful, a Bitcoin marketplace, registered a staggering 883% growth from January to May this year representing a growth from $2.2 million to about $22.1 million in revenues. Similarly, India’s largest crypto exchange WazirX registered a growth of 400% and 270% in March and April respectively.

The renewed effort to ban crypto trading comes at a time when the Indian Parliament has reopened following a prolonged break due to COVID-19 pandemic. The bill is likely to be introduced to parliament in this monsoon session which kicked off yesterday and is set to affect over 1.7 million Indians who actively trade in digital assets as well as institutions coming up with platforms to ease crypto trading.

Today’s report appears to be in tandem with June’s news where the nation’s finance ministry was reportedly urging for inter-ministerial consultations on how to ban crypto.

In the recent past, India’s federal government has been exploring possible ways of using blockchain technology to enhance service delivery in different sectors like management of land records, enhancement of pharmaceutical drugs supply chains, management of educational certificates, among others but remains adamant against crypto trading.

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Author: Joseph Kibe

SushiSwap Creator Makes a U-Turn; Returns $14 Million Worth of Ether

In the latest turn of events, just when you think the drama is coming to an end, comes a tweet from Chef Nomi.

It was on the last weekend that the anonymous creator of DEX SushiSwap cashed out his share of the development fund; now, just before this weekend, Chef Nomi apologized to the crypto community for their greed.

The creator also returned all of their $14 million worth of Ether to the treasury and “will let the community decide how much I deserve as the original creator of SushiSwap.”

Now, Adam Cochran, a co-signer of the multi-sig, is proposing to use some of these returned funds to re-buy SUSHI token, which is trading at $2.33.

Currently, the SushiSwap community is working on bringing the policy changes they have voted for to the protocol, including reducing its token reward schedule and introducing fee staking and a lock-up period for newly minted SUSHI.

The Apologies Round

This week, the control of the Uniswap clone was handed over to FTX CEO Sam Bankman-Fried, and the subsequent successful migration of SushiSwap happened. Already it is recording $200 million in daily volume and $1.54 billion of liquidity. The community also voted for ten people as the multi-sig signers for the treasury.

Chef Nomi apologized to all the people involved in the project and “for bringing a bad reputation to the DeFi movement.” At the time of selling his SUSHI tokens, the pseudo-anonymous creator said they deserved the funds for doing all the work.

Synthetix founder is in favor of “powerful incentives” to “attract all the amazing founders languishing in Fintech building shitty TradFi overlays” in crypto, much like Chef Nomi.

But yEarn founder Andre Cronje argued that incentives should be aligned and “earning a casual $1.5m for < 2 weeks worth of work, off of cloning someone else’s work, hardly seems aligned.”

The creator also directed their apologies towards Uniswap creator Hayden Adams, of which it is a copycat.

“I hope that SushiSwap continues to evolve. Don’t let my mistake deter it from being a 100% community-run AMM. The success of SushiSwap will set a precedent for many more community-run projects,” said Chef Nomi. “It has a lot of potential, don’t let my action alone fuck it up.”

Chaos has a way of sorting itself

While those who lost their money during the SUSHI’s 80% price dump following Chef Nomi’s “exit scam” berated him still in the comments section of Twitter, some speculated this move was because he was doxxed.

Others complimented the creator for owning up to their mistakes and correcting them. Cronje said,

“Less apology, more coding. Sushiswap needs you. Get back to work and build something that leaves a legacy. You chose Sushiswap over yourself, now just keep building.”

Amidst this, popular trader Loomdart shared his two bits on the Sushi saga, saying the project is not a conspiracy because “$14m is pennies when you attribute the stress/fear that comes with “doing” what ChefNomi did.” He said,

“Crypto is chaos. chaos just has a way of managing to sort itself out when peoples incentives align.”

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Author: AnTy

Bitcoin for Beginners: Explaining Crypto and DeFi Coins During the Next Bull Run

Crypto experts believe the next bull run is coming. When it comes, you’ll need to once again explain crypto to your friends and family.

How do you explain the power of blockchain to someone? What’s a good elevator pitch to get someone to invest in bitcoin? How do you explain the power of crypto in a few sentences?

Preston Pysh (@PrestonPysh) just answered these questions on Twitter. Preston published several paragraphs on Twitter explaining how to explain the potential of crypto to friends, family, and anyone else you talk to – when they inevitably ask during the next bull run.

Before bitcoin hits $20,000 by the end of 2020, we’re here to help explain Bitcoin to your friends and family.

What Problems Does Bitcoin Attempt to Solve?

For technology to change the world, it needs to solve a problem. The iPod solved the problem of transporting 1,000 songs in your pocket. The internet solved the problem of global communication. The wheel solved the problem of moving big things around.

So what problems does bitcoin solve?

Bitcoin was created as the most secure, stable digital currency. It’s designed as a global, digital peg on fiat currency.

Some had seen fiat currency as a problem since the 1930s when the United States government seized gold from U.S. citizens and made it illegal to hoard gold. Others pointed to 1971 when global economies agreed to remove their fiat currencies from the gold standard, which is why today’s currencies are no longer pegged to…anything.

The lack of a fiat currency peg has led to…issues. Governments around the world are overusing inflationary monetary policies with no monetary peg. The $100 USD you owned 50 years ago only buys a fraction of the amount of stuff it did back then – due to inflation.

Bitcoin is deflationary. It has a fixed supply. There will never be more than 21 million bitcoins in existence. Out of the 17 million bitcoins in circulation, a significant portion (most experts guess around 4 million, but it could be higher) have already been permanently lost. If the demand for bitcoin continues to rise, and supply remains fixed, then bitcoin’s price can only go one direction: up.

But Bitcoin’s Price Is So Volatile!

“Why would I buy a bitcoin for $10,000 today when it could be worth $100 tomorrow? The price changes all the time, and I can’t trust a significant amount of money to crypto!”

It’s true that bitcoin’s price is volatile. Ten years ago, you could buy a bitcoin for a few pennies. Today, bitcoin is priced around $12,000. A few years ago, one bitcoin was worth $20,000.

Over time, bitcoin’s volatility should flatten. Bitcoin is a new asset, and investors are still trying to price that asset. Markets for uncertain assets fluctuate, and bitcoin is no different. The market is trying to find the actual value of bitcoin.

Of course, grizzled bitcoin fans will tell you that the price of bitcoin only fluctuates when comparing it to USD: 1 BTC has always been equal to 1 BTC. It’s only the BTC/USD (and BTC/any other fiat currency) ratio that fluctuates.

How Does Bitcoin Have a Fixed Supply? Can’t Someone Raise the Supply?

Bitcoin’s supply is fixed. There can only ever be 21 million bitcoins in existence. Nobody can copy their bitcoin to duplicate it. That’s one of the key technological innovations of bitcoin: unlike other digital files, one bitcoin cannot be spent twice or copied in two places. Bitcoin’s blockchain innovatively solved the “double-spend” problem.

There are 21 million bitcoins, but you can still break down bitcoin into smaller units. Each bitcoin can be broken down to 8 decimal places, which means there are 2,100,000,000,000,000 total bitcoin units (people call these ‘Satoshis’). There will never be more than this supply because of blockchain.

There Are Thousands of Cryptocurrencies – Why Would I Buy Bitcoin?

Bitcoin isn’t the fastest cryptocurrency. It’s not even the most secure or private cryptocurrency. In fact, from a technical standpoint, bitcoin has few advantages over many of its competitors. However, bitcoin has one significant advantage: first-mover advantage. Bitcoin was the world’s first cryptocurrency, and it’s the coin most people think about when they hear “crypto.”

Preston Pysh recommends thinking of it like another open-source project everyone knows about – Wikipedia:

  • Wikipedia is an open-source website that anyone can legally copy and duplicate.
  • Anyone could copy the open-source code for Wikipedia, change the name, and try to adopt new users and overtake Wikipedia as the world’s best repository of knowledge.
  • This doesn’t happen because of “network effects,” explains Preston: bitcoin has the most substantial protocol network effect for pegged money.
  • Yes, bitcoin has its issues – but despite the fact, anyone can copy bitcoin, people don’t. And bitcoin has remained the world’s largest and most valuable cryptocurrency since launching in January 2009.

Won’t Governments Just Ban Bitcoin?

It’s true that governments have banned bitcoin in the past. The Chinese government banned crypto exchanges in September 2017, for example.

During the early years of bitcoin, it was a credible threat that governments could ban it. Today, it’s less of a risk. Countries around the world have already passed laws that legitimize bitcoin and protect bitcoin hodlers. Germany, Australia, South Korea, and other countries have laws protecting bitcoin ownership – just like they have laws protecting any non-digital property for citizens.

The government has the power to ban virtually anything – from free speech to guns to methods of payment. As long as the majority of people want bitcoin, and as long as you live in an open democracy, you should have nothing to worry about.

How Much Will One Bitcoin Be Worth Ten Years from Now?

Inevitably, bitcoin conversations turn to price – and how much money you can make by investing in bitcoin.

Of course, nobody can predict where bitcoin will go next. It could sharply fall before it rises again. It could skyrocket to $20,000 by the end of the year – and $100,000 next year.

People have all types of bitcoin predictions – they’re all over the board with predictions.

One thing to consider is that fiat currencies like the US Dollar may lose their value while bitcoin rises in value. With central banks around the world implementing inflationary policies and pumping new money into the economy, it’s possible fiat currencies will slowly become a thing of the past – while digital currencies become more popular for their fixed supply.

This is all conjecture – but this is the type of speculation that could get friends, family, and others interested in cryptocurrency.

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Author: Andrew Tuts

Stellar Development Foundation Invests $550k Into SatoshiPay to Boost B2B Solutions

  • Stellar Development Foundation (SDF) adds funding close to $600,000 in SatoshiPay.
  • The funding comes in loan convertibles and was distributed across the Stellar blockchain.

Stellar Development Fund, a non-profit organization behind Stellar blockchain’s development, announced an additional $550K funding round in SatoshiPay, a crypto business to business cross border payment platform. The convertible loan from SDF’s Enterprise Fund, was paid in Stellar’s native tokens, Lumens, the transaction completing in seconds.

The latest investment from the SDF is the third this year in SatoshiPay after a long partnership between the two companies. This brings the total funding amount in the B2B cross border company in 2020 to a total of $6.3 million. The loan convertibles will be activated at the next round of funding by Stellar’s Dev Fund.

Meinhard Benn, CEO of SatoshiPay believes the funding pushes the company closer to its goals. He said,

“With a surge in demand for instant B2B payments, and blockchain maturing and enabling a payments revolution, we believe we have a head start through our proven, scalable blockchain business model.”

The loan comes as a relief from the current effects caused by the COVID-19 pandemic and will help the company keep their staff and working operations running. A part of the funds will be used in marketing and development of the SatoshiPay platform.

According to the exclusive press release sent to BEG desk, the company expects to launch its closed alpha test in the next 8 weeks with a public beta test expected in the final quarter of the year.

More Developments on SatoshiPay

SatoshiPay was one of the first companies to adopt Stellar’s settlement network on its platform. The company recently launched the Solar app built on Stellar’s blockchain to allow micropayments across borders. The open-source wallet for the Stellar network, has been downloaded more than 25,000 times in 40 countries, according to the release.

SDF’s Enterprise Fund recently announced a $715k grant to blockchain startup, DSTOQ, which focuses on the tokenization of bluechip stocks.

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Author: Lujan Odera

Bitcoin Got its Own Emoji on Twitter, Jack Dorsey Wants Unicode to Add Too

Social media giant Twitter has released a Bitcoin emoji that comes up every time you type hashtag Bitcoin.

This really isn’t surprising given that it’s CEO Jack Dorsey is a Bitcoin proponent who believes the world’s leading cryptocurrency could be one day the currency of the Internet.

In his Tweet, Dosey CC’d the latest development to Unicode, the world standard for text and emoji, whose idea is that “everyone in the world should be able to use their own language on phones and computers.”

The letter B with two vertical strokes ₿ which is used to represent Bitcoin was approved in 2017 as a Unicode character, after being rejected in 2011, but not as an emoji. The first time Bitcoin sign appeared in Unicode 10.0 in 2017 and as of June 2017, font support for the sign was released in macOS, iOS, Android O beta, Windows 10 Creators Update, and several Linux ones.

Dorsey’s new bio has also been changed to highlight this latest development “#bitcoin”

In the meantime, the #Bitcoin hashtag with the emoji has been trending on Twitter.

Bitcoin enthusiast Rhythm Trader took to Twitter to share that this new development reflects, “Bitcoin is magic internet money.”

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Author: AnTy