I like POW (proof of work) crypto currencies where the system is ruled on the basis of how much computing power you can apply to maintaining the system. I’ve steered clear of Ethereum because it is heading towards POS (proof of stake,) a system where oligarch-sized owners of the coin get to call the shots and likely do what oligarchs do best, poop on the little people and fight to the death amongst themselves. Crypto is politics in software form, so to me the political framework of cryptocurrencies is all important. The POS future for Ethereum is a killer for me long term, but right now it is not that “in the long term we are all dead” that is the key, it is that visibility of the long term itself is all but dead.
Decentralized exchanges (DEXs), which allow peer-to-peer crypto trading without centralized exchange (CEX) taking custody of your assets, have integrated WBTC into their markets to boost the liquidity needed to make them viable. Sure enough, DEX trading volumes leapt 70% to record highs in June. (It helped, too, that June saw a surge in “yield farming” operations, a complicated new DeFi speculative activity that’s easier to do if you maintain control of your assets while trading.)
ZIMBABWE ACCIDENTALLY LEAVES DOOR OPEN FOR CRYPTO. Here’s a recipe for creating a fertile environment for alternative payment systems: outlaw the system everyone is currently using. When the Zimbabwean government made the nutty step of banning digital payments – used for 85% of transactions by individuals, due to severe shortage of cash – it clearly wasn’t trying to promote bitcoin. In forcing people to go to a local bank to redeem funds locked in popular payments apps such as Ecocash, its goal was to protect the embattled Zimbabwean dollar. In a statement, the Reserve Bank of Zimbabwe, said the move was “necessitated by the need to protect consumers on mobile money platforms which have been abused by unscrupulous and unpatriotic individuals and entities to create instability and inefficiencies in the economy.” The thinking is that Ecocash, which enables currency trading, is making it easier for people to dump the local currency. But here’s the thing: Ecocash, which said it suspended cash-in-cash-out functions (presumably because its banking lines will be cut) is still keeping in-app payment facilities open. And it said nothing about stopping its fairly popular service allowing people to buy cryptocurrency. Not surprisingly, since the ban “demand for bitcoin has skyrocketed,” according to African crypto news site, bitcoinke, with “sources claiming bitcoin is now selling at at 18% premium above the market rate.”
Interestingly, USD Coin (USDC), the world’s second-largest stablecoin from Coinbase and Circle, was ranked at 1.00 by the Crypto Rating Council (CRC), whose members include Coinbase, Circle, Kraken, Bittrex, Genesis Capital, eToro, OKCoin, Radar, Anchorage, Cumberland, among others). The CRC supports and promotes regulatory clarity in the distributed ledger technology (DLT) space.
The transaction, which may be viewed via Etherscan, an Ethereum (ETH) blockchain explorer, confirms that a “blacklist(address investor)” function was initiated on June 16, 2020, by 0x5dB0115f3B72d19cEa34dD697cf412Ff86dc7E1b, which is an address that’s controlled by CENTRE, the Coinbase and Circle backed entity responsible for issuing the USDC stablecoin.
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Description: BTC will slow down coming days. Alts will catch up. $ETH looks to be bottomed. Perfect time for a cocaine fueled high leverage play. Timeframe: One week. Indicators used: Force my neighbour to smoke crack, then dress him up in a suit and make him pitch me pump targets. We basicly pick the funniest one and just run with it. Shout out to: None
COINBASE:ETHBTC has been looking pretty strong lately. On the weekly chart it appears to be one of the leading altcoins (as expected) in trading vs. BTC. The weekly chart has several indicators now trending towards bullish bias. The daily chart that I'm highlighting however is not as clear at this moment. I've circled two areas of interest on the price chart....
The original Ethereum value driver was the ICO (initial coin offering), another casino on Meth. The regulators did what they do well and snuffed it out but crypto at its base is a way of creating value outside of the maw of fiat monopolies and you can’t keep that at bay indefinitely. So snuffing out ICOs didn’t snuff out Ethereum, it just left it ticking over until the distributed computer got another hit app. Here it is.
Two of these DeFi platforms are AAVE and Compound and you should zip over and take a look. I had some Ethereum sploshing about so I popped $23 worth in and in seconds I was watching the value tick up 79 billionth of a dollar every second or so. I’m going to have to wait a year to make a $1 but that’s not the point. I just opened a deposit account in one minute, transferred money into it in seconds and now I’m watching it grow instantaneously and that purely from landing on the beach of a new continent of financial services that can spin off from this.
Why? Is it my inflation terror driving me on? No. Ethereum is onto a new crypto winning phenomena. DeFi (decentralized finance). Well, that’s what it’s called, but most DeFi is dull and almost pointless, the exciting bit is the crypto lending part where you can stash your cryptocash in a blockchain system and get paid interest on it in a “risk free” way.
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Think of AdWallet like an online dating service (but for people to be introduced to potential products/services instead of potential mates). When you fill out your personal profile (Demographics and Targets), you are enabling AdWallet to determine what ads to send you. Just like an online dating site, you will (more often than not) only get ads that fit your personal criteria and interests. Best practice is to keep your profile up-to-date and be honest. Sorry, there is no special formula to get more ads. Choose your current life stages, your favorite hobbies, most relatable philosophies and the brands you truly are loyal to and let the ads find you! Trust us, a “Cha-Ching” text message is coming…
OF MONEY AND MYTHS. I’m reading Stephanie Kelton’s book “The Deficit Myth.” In a future edition of Money Reimagined, I’ll have more to say on the most influential modern monetary theory proponent’s explanation of its ideas. But for now I’ll just say that, while I’m not likely to be a convert to all its prescriptions, it seems clear that MMT is widely misunderstood by folks on both the left and the right – also, very much by the crypto industry. The latter is perhaps because people in crypto tend to skew more to the metallist school of money, rather than to chartalism. Either way, a clearer grasp of what MMT is all about would, I believe, help improve the industry’s discussion around government, money, trust and how blockchain-based systems can integrate with the existing one.
The increase in network activity on Ethereum is largely due to the ongoing DeFiDecentralized Finance (DeFi) is a term that is being used to describe the world of financial services that are increasingly... More boom. Decentralized Finance (DeFi) is a hot topic right now as many of its tokens surge in value. DeFi promises to cut out the middleman in the financial world by hardcoding solutions to allow for decentralized lending, portfolio management, and more.
‘Money Printer Go Brrr’ Is How the Dollar Retains Reserve Status. Our columnist Francis Coppola is here to tell you that you don’t understand how quantitative easing works. The Fed is not on some self-destructive mission here. Inflation? Not going to happen. The dollar’s demise? On the contrary, the Fed’s monetary rescue mission is what will keep the greenback atop its throne.
ETHEREUM VS BITCOIN: NO SABIAS ESTAS DIFERENCIAS ¿QUÉ ES ETHEREUM?