Category Archives: Satoshi Nakamoto
3 Top Cryptos That Could Soar Higher Than Bitcoin – The Motley Fool
In the crypto market, all eyes are on Bitcoin (BTC -0.25%), the world's largest cryptocurrency by market capitalization. At one point, Bitcoin was up more than 80% for the year, as it soared to a price of $30,000. However, Bitcoin has started to pull back in recent days and is now up only 3% over the past 30 days.
At the same time, a number of cryptos are keeping pace with Bitcoin's overall performance. For example, Ethereum (ETH -1.05%) is up more than 63% for the year and 10% over the past 30 days.And both Avalanche (AVAX 1.48%) and Cardano (ADA -0.57%) are up more than 64% for the year.Here's a closer look at why these three cryptos could be ready to soar higher than Bitcoin.
All three of these cryptos are premier Layer 1 blockchains. You can think of these blockchains as the "building blocks" of the crypto industry. Once you have a Layer 1 blockchain like Ethereum, you can start to build on top of it. That means enjoying things like non-fungible tokens (NFTs), smart contracts, decentralized finance (DeFi), blockchain gaming, and web3 decentralized applications.
Importantly, these are all innovations the Bitcoin blockchain was not designed to offer. Bitcoin is, first and foremost, a potential store of value, similar to gold. Satoshi Nakamoto, the anonymous creator of Bitcoin, also designed it to be a peer-to-peer electronic cash system.But beyond that, Bitcoin does not offer nearly the functionality and diversification that you find with the big Layer 1 blockchain networks. If you want to get involved in the world of decentralized finance (DeFi), for example, you go to a blockchain like Ethereum.
Image source: Getty Images.
As a result, one powerful investment thesis right now involves Layer 1 blockchains. All three of these Layer 1 blockchains -- Ethereum, Cardano, and Avalanche -- are highly diversified, and all of them rank as Top 15 cryptocurrencies by market capitalization. In terms of market cap, Ethereum trails only Bitcoin. Cardano, which launched back in 2017, now ranks as the No. 7 crypto in terms of market cap.
Of these three, Avalanche (No. 15 in terms of market cap) may be the least-known among casual investors. However, during the last crypto bull market rally, Avalanche was routinely discussed as a potential "Ethereum killer" and comes with a solid pedigree. And in January 2023, Avalanche signed an important partnership deal with Amazon Web Services to offer blockchain services to large corporate and government clients.
However, not all Layer 1 blockchains are seeing the same type of performance as Ethereum, Cardano, and Avalanche. For example, if you look at the next tier of smaller Layer 1 blockchains, many of them are actually struggling right now. For example, Aptos (CRYPTO: APT) is down 9% over the past 30 days, and Algorand (CRYPTO: ALGO) is down 11%.
The big factor here appears to be an overall flight to quality by investors. While sentiment has turned markedly bullish for crypto in 2023, there is still a realization that we're not out of the woods yet. Case in point: Bitcoin seemed to be unstoppable for the first three months of the year but now is struggling to soar past $30,000.
As a result, investors are still searching out high-quality names. This generally means a focus on cryptos with huge market caps and the biggest blockchain ecosystems. This explains why some Layer 1 blockchains are doing so well while others are not.
In choosing between top Layer 1 blockchains, the obvious choice would be Ethereum. This crypto, just like Bitcoin, is a favorite of institutional investors. It has a huge market cap, a well-diversified ecosystem, and a huge developer base. Ethereum also ranks No. 1 in terms of NFT trading volume and No. 1 in terms of Total Value Locked (TVL), which is a key metric for determining how much activity is actually taking place on a blockchain. Moreover, in late 2022, Ethereum completed a highly successful technological transformation -- known as The Merge -- that sets the stage for strong long-term growth.
However, if you're looking for a dark horse candidate that might end up outperforming Ethereum over the long run, it's Cardano. This crypto, which has never traded higher than $3.10, is en fuego this year. It's up 64% for the year, which is keeping pace with both Ethereum and Bitcoin. And it has a new strategy based around DeFi that is going gangbusters. The latest first-quarter 2023 metrics for Cardano are now in, and all signals are flashing green.
Now is the time to invest in high-quality Layer 1 blockchains that have diverse blockchain ecosystems and solid long-term growth prospects. The three names on my list right now are Ethereum, Cardano, and Avalanche.
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3 Top Cryptos That Could Soar Higher Than Bitcoin - The Motley Fool
Bitcoin Is Easily the Best Crypto to Buy Right Now, but Keep Your … – The Motley Fool
Bitcoin (BTC -0.39%) seems unstoppable right now, after breaking through the $30,000 price point. The world's most popular crypto really appears to be separating from the pack, and is now up 85% for the year. Regulators seem like they're willing to leave it alone and the Federal Reserve looks like it might be finished tightening. All are very good reasons Bitcoin sentiment right now is overwhelmingly bullish.
However, there is one issue that has been dogging Bitcoin for years, and that's the environmental impact of Bitcoin mining. Increasingly, Bitcoin is being included as part of the global climate change agenda, and that is going to impact not just how investors perceive it, but also how regulators around the world view it.
Over the past 12 months, the case against Bitcoin on purely environmental and climate change grounds has been ramping up. In September 2022, the White House put out an official report detailing the energy consumption of different cryptocurrencies, and Bitcoin figured prominently in the report.While modern proof-of-stake blockchains are remarkably energy-efficient, older proof-of-work blockchains such as Bitcoin are not.
Image source: Getty Images.
And that's not all. Greenpeace recently launched a new advertising campaign against Bitcoin called "Change the Code, not the Climate."The goal, says Greenpeace, is to clean up Bitcoin. And it will use many of the tactics that it has brought to bear against the oil and gas industry to make its point. For example, in March, Greenpeace placed a giant, 11-foot "Skull of Satoshi"(named for Satoshi Nakamoto, the anonymous founder of Bitcoin) right next to the New York City offices of Fidelity Investments, which now offers Bitcoin options for retail investors.
On April 9, The New York Times published a controversial expos on just how bad Bitcoin is for the environment, focusing on the energy consumption of Bitcoin mining. While many in the crypto community panned the article as being biased and factually inaccurate, the big-picture view is that climate change is a very important issue right now, and a lot of people -- including some lawmakers and regulators -- are very passionate about it.
As I see it, there are two possible scenarios. The most likely scenario is that Bitcoin manages to shake off this controversy once again, as it has over its 14-year history. Years ago, economists and academics were publishing the same kinds of reports, and what has really changed? Yes, Bitcoin miners have embraced cleaner forms of energy, but Bitcoin shows no signs of changing its proof-of-work protocol that requires crypto mining. And even the Canadian artist who created the "Skull of Satoshi" artwork has now recanted after tremendous blowback from the Bitcoin community.
But I think something fundamentally changed in September 2022. That's when Ethereum transformed from a proof-of-work blockchain into a proof-of-stake blockchain, immediately reducing its energy consumption by 99.99%. If Ethereum can do this, why can't Bitcoin? That's what makes the current Greenpeace ad campaign more effective than it might have been several years ago. When it talks about "changing the code," it's talking about changing from a proof-of-work blockchain into a proof-of-stake blockchain. Whatever you might think about Greenpeace, that doesn't seem like a radical, unreasonable request.
Moreover, big institutional investors such as BlackRock may have boxed themselves into a corner on this issue. BlackRock has been at the forefront of the environmental, social, and governance (ESG) investment agenda, and has pushed for greener, more sustainable investments.So how does that square with a policy of embracing Bitcoin, which is arguably the least green crypto that exists?
That being said, Bitcoin is clearly the top crypto investment on the planet right now. It's hard to make a case for any other crypto when Bitcoin is up 85% for the year. So I'm not trying to throw cold water on a scorching-hot Bitcoin rally. I hold Bitcoin in my portfolio, and I'm bullish that it can hit some pretty outrageous price targets in the future.
But I'm also a realist. Look at the automotive industry, for example. Once activists decided to take it on, things forever changed. Is it possible to watch TV these days without seeing ads for electric vehicles? Right now, there are plans in California to ban gas-powered vehicles by 2035, and the EPA just proposed rigorous new emission standards for vehicles.You can't simply ignore an issue, and I'm concerned that some people in the Bitcoin community have their heads in the sand when it comes to climate change.
Bitcoin is a fantastic long-term investment. But if you start to see the narrative about Bitcoin change, it's worth taking note. Any hint of legal or regulatory overreach on this issue in the U.S.should be a wakeup call for Bitcoin bulls because it might just be the only factor that can squelch the current Bitcoin rally.
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Bitcoin Is Easily the Best Crypto to Buy Right Now, but Keep Your ... - The Motley Fool
Coinbase’s overseas expansion seeks more swaps, fewer cops – CoinGeek
Coinbase(NASDAQ: COIN) is fed up with Americas refusal to let thedigital asset exchange break the law with impunity, so its heading overseas to join its criminal rivals.
On Wednesday, Coinbaseprovided an update on its previously stated plan to go broad and deep, aka establish bases of operation in jurisdictions that will let it do what American authorities wont let it do at home.
Coinbase paints its international expansion push as furthering its mission of increasing economic freedom for every individual and business. However, its primary aim appears to be engaging in activities that U.S. regulators like the Securities and Exchange Commission (SEC) insist are illegal, like offeringunregistered securities to the public.
For instance, Coinbase said Thursday that it had received a Class F license under the Digital Asset Business Act from theBermuda Monetary Authority.Fortune subsequently reported that Coinbase will launch a Bermuda-based derivatives exchange as soon as next week. The new platform will reportedly include perpetual swaps among its offerings.
Swaps and other exotic derivative products have long been fixtures on sketchy exchanges such asBinanceandFTX (pre-bankruptcy). Both exchangesoffered customers leveraged bets over and above 100xuntil regulators started asking questions. Binance founderChangpeng CZ Zhaosaid his exchange reduced its leverage primarily because hedidnt want to make this a thingy.
Bermudas past and present digital asset licensees include Bittrex (which recentlygot its own SEC charges), bankrupt digital lenderBlockFi, and CoinbasesUSDCpartner,Circle. Years ago, Binance signed amemorandum of understanding with Bermudas government to invest $15 million and create 40 local jobs, but like many Binance initiatives (particularly those that involve acquiring licenses), nothing ever came of it.
We USDC what you did there
Coinbase has been desperately seeking new ways to generate revenue as the lingering effects of 2022s crypto winter continue to deter retail tradersfrom whom Coinbase earns significantly greater commissions than institutional tradersfrom dipping back into the fetid crypto waters. Coinbase currentlyrelies heavily on interest incomegenerated from custodying customers USDCstablecoins (issued by Circle via the Centre consortium, in which Coinbase is a partner).
Worse, that USDC custody revenuewhich is based on investing the cash reserves backing issued USDC in U.S. Treasury bills at much higher rates than the 1.5% Coinbase is paying its customersis falling. It started falling a little more slowly on Thursday after theMakerDAO community voted to store an additional $500 million worth of its USDC with Coinbase, albeit at a higher 2.6% rate.
However,this new arrangement is valid for a maximum term of 364 days. MakerDAO clarified this was an interim solution that will be terminated once the self-custodial solution is ready. Coinbase also cant lend, pledge, hypothecate or rehypothecate the custodied assets and has to permit withdrawals of the whole lot within 24 hours of such a request.
Following last monthscollapse of crypto-friendly banksandstablecoin wars with Binance, Circle was forced to sell plenty of T-bills to fulfill around $12 billion worth of USDC redemptions. Some of these USDC redemptions undoubtedly came from customers of Coinbases rewards program. (Not a security, dammit!) Since that selloff began in mid-March, the impact wont appear that severe when Coinbase releases its Q1 results on May 4. But the Q2 numbers? Well, as the movie says, there will be blood.
Soyou can understand Coinbases eagerness to jump into the sketchy derivatives pool with both feet. But Coinbase will find it difficult to steal market share from its established international rivals unless CEOBrian Armstrong is willing to display the same blatant disregard for the law that CZ does.
Love it or leave it
Earlier this week, Armstrong went onCNBCto discuss his companys ongoing issues with the SEC, whichissued a Wells noticelast month indicating an imminent enforcement action against Coinbase for, among other things, offering tokens the SEC considers to beunregistered securities.
Addressing the unfortunate SEC warning, Armstrong said that while we never seek litigation, his company is prepared to go to court to get the clarity we need and create the case law. Armstrong slams the SEC for having completely abdicated responsibility in establishing a clear rulebook for firms like his.
But as SEC chairman Gary Gensler has repeatedly observedand did so again this week in hisappearance before the House of Representatives Financial Services Committeenothing about the crypto markets is incompatible with the securities laws [already on the books] Not liking the message isnt the same thing as not receiving it.
Armstrong was in the U.K. this week for Londons Fintech Week confab, pushing local authorities tocompel banks to handle fiat transactionson behalf of exchanges like Coinbase. Armstrong also let it slip that, based on his view that the U.S. is now crypto-hostile, his company was mulling optionsincluding relocating or whatever is necessary.
Armstrong undercut his threat somewhat by noting that a relocation would depend on if a number of years go by where we dont see regulatory clarity emerge in the U.S. But Armstrong told CNBC that we have a budget and we have to decide where to allocate it. And so that means what products we want to build, but it also means what countries we want to invest it in any given year.
Armstrongs tough talk ignores his companys utter reliance on the U.S. marketits 2022 annual report showed 84% of revenue came from U.S. customers. And if he thinks acting recklessly abroad while professing his love of regulations at home will win him any more fans with U.S. authorities, hes in for one rude awakening.
If Coinbases international offshoots offer products that American regulators frown upon, it will only increase their scrutiny of Coinbases operations. And if Armstrong thinks hes got problems now, wait until some SEC or Department of Justice agent manages to sign up and trade sketchy derivatives on Coinbase Bermuda from a U.S. IP address.
Compliance theater
Coinbase hasnt completely given up on Murica, asBarronsreported Thursday that the exchange is joining forces with crypto hedge funders a16z to throw a fundraiser for blockchain enthusiastSen. Cynthia Lummis (R-WY) on April 28. Suggested contributions range from $1,000-$3,000 per person.
Armstrong alsospent Thursday in Washington, DC, meeting with members of congress. (Question: why do photos always make it look like Armstrong iscarrying two invisible kettlebells?)
The innovators will flee and America will flounder mantra recently adopted by Armstrong and his allies was openly mocked by Rep. Brad Sherman (D-CA) atWednesdays House hearing on stablecoins. Noting cryptos predominant use case of facilitating crime, Sherman declared: Perus ahead of us in cocaine cultivation. Chinas ahead of us in organ harvesting. Its time for America to catch up!
Coinbase, Binance, and other exchanges love to publicly profess their fondness for regulation, but what theyre really after is a hands-off approach that allows them to ignore rules and maximize profit. All too often, when obliged to abide by the rules of the road, Coinbase has opted instead totake its ball and go home.
Lawyer up
Coinbases Wells Notice news didnt help the companys stock price, which closed Thursday down 6% to $60.50. Thats an improvement from where it closed out 2022, but still less than one-fifth of its peak shortly after Coinbases 2021 direct listing on the Nasdaq. Meanwhile, Armstrong and other senior managers continue todump millions worth of their personal holdings, with Armstrong alone having sold nearly $22 million since the year began.
But if youre among the poor sods who have lost over $50,000 investing in Coinbase stock or options based on Armstrong & Cos antics, the securities law firm of Faruqi & Faruqi LLP would like to hear from youregarding a potential class action against the exchange.
Coinbase had faced the threat ofsimilar suitsbefore, includinganother from Faruqi after Coinbase abruptly announced plans to raise $1.25 billion in additional capital just one month following its Nasdaq debut. It remains to be seen how many investors with losses over $50,000 will respond to Faruqis current appeal.
Coinbase tends to downplay legal issues it would prefer investors dont focus on, such as thematerial risks section of its prospectus, which included the identification ofSatoshi Nakamoto or the transfer of Satoshis Bitcoins. Small wonder, then, that Coinbase is a member of theCrypto Open Patent Alliance(COPA), a group set up toundermine Dr. Craig Wrights efforts to be acknowledged as Satoshi.
Coinbase is also keen to downplayWrights suit against it and rival exchange Krakenfor passing off the corrupted BTC token asthe original Bitcoin. Guess once youve started down the road of passing off your operations as legally compliant and regulatory-friendly, it must be hard to stop.
FollowCoinGeeks Crypto Crime Cartelseries, which delves into the stream of groupsfromBitMEXtoBinance,Bitcoin.com,Blockstream,ShapeShift,Coinbase,Ripple,Ethereum,FTXandTetherwho have co-opted the digital asset revolution and turned the industry into a minefield for nave (and even experienced) players in the market.
New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.
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Coinbase's overseas expansion seeks more swaps, fewer cops - CoinGeek
Bitcoin Creator Satoshi Nakamoto Turns 48 Today, Coinciding With … – Bitcoin News
According to the P2P Foundation forum, the mysterious creator of Bitcoin, Satoshi Nakamoto, has ostensibly turned 48 today on April 5, 2023. More than 14 years ago, Nakamoto introduced Bitcoin to the forum members, noting that the inventor developed a new open-source P2P e-cash system called Bitcoin.
Just over 14 years ago, Satoshi Nakamoto registered with the P2P Foundation forum to share information about Bitcoin. According to Nakamotos P2P Foundation page, the mysterious creator chose a birthday of April 5, 1975. In addition to revealing the birthday date, Nakamoto identified as male and claimed to be from Japan. Other than those sparse details, no additional information about Nakamoto can be gathered from the P2P Foundation forum. If the registered April 5, 1975, birthday is factual, Nakamoto would have turned 48 years old today.
On Wednesday, cryptocurrency proponents discussed the relevance of Nakamotos alleged birthday and why Bitcoins creator may have chosen that specific date on the Reddit forum r/cryptocurrency. The Redditor who started the discussion explains how many Bitcoiners believe that April 5 was chosen because it was the day U.S. president Franklin D. Roosevelt confiscated gold from Americans and banned its ownership.
Ratified in 1933, Executive Order 6102, signed by FDR, forbade the hoarding of gold coin, gold bullion, and gold certificates within the continental United States. The ban on gold ownership in the U.S. wasnt repealed until December 31, 1974. Interestingly, Nakamotos birth year followed the repeal by one year. The Redditor u/KAX1107, who published the r/cryptocurrency post, explained:
1975 is the year U.S. citizens were allowed to own and trade gold again, after Nixon unilaterally dissolved the existing Bretton Woods system and canceled the convertibility of the U.S. dollar to gold in 1971, introducing the paper standard. Nixon said this measure would be temporary, but he lied. 52 years later, here we are.
u/KAX1107 is not the first, nor the only person to believe in the connections between the dates Nakamoto chose. Many other Bitcoin supporters wholeheartedly believe that the date Nakamoto chose was for this very reason. Bitcoin supporters have been celebrating Nakamotos alleged birthday for years, and many continue to support the gold confiscation theory. Several theories attached to Nakamotos pseudonymous identity have emerged over the years, and it is widely assumed that Bitcoins creator left a number of secret Easter eggs in his messages.
After registering with the P2P Foundation forum, Nakamoto used it for one purpose: spreading the message about Bitcoins benefits and the latest software. On February 11, 2009, 14 years ago, Nakamoto wrote, Ive developed a new open source P2P e-cash system called Bitcoin. Its completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. Give it a try, or take a look at the screenshots and design paper.
What do you think about the theory that Satoshi Nakamoto chose his alleged birthday based on its connection to the U.S. gold ban? Do you believe there is any significance to this coincidence, or is it simply a fun coincidence? Share your thoughts in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Bitcoin Creator Satoshi Nakamoto Turns 48 Today, Coinciding With ... - Bitcoin News
The Pros and Cons of Using Bitcoin As A Payment Method – Blockzeit
As technology continues to evolve, so do our methods of conducting transactions. One of the most significant changes in recent years has been the emergence of cryptocurrencies, with Bitcoin being the most popular. Bitcoin is a decentralized digital currency allowing for peer-to-peer transactions without intermediaries like banks. This article will examine the pros and cons of using Bitcoin as a payment method.
Bitcoin is a decentralized digital currency created in 2008 by an individual or group operating under the pseudonym Satoshi Nakamoto. Unlike traditional currencies, Bitcoin is not backed by any government or central entity, and its transactions use cryptographic techniques to secure them.
As a result, its users reap the benefits of making secure peer-to-peer transactions without going through third parties like banks or other financial institutions. Despite not having a centralized origin, its value has grown exponentially since its creation and has become one of the most popular forms of digital currency worldwide.
In conclusion, Bitcoin has both pros and cons as a payment method. On the one hand, it offers high security, transparency, and global accessibility, with lower transaction fees than traditional payment methods. However, on the other hand, it is highly volatile, lacks acceptance in some areas, and can be complex and irreversible, with potential regulatory issues.
Ultimately, whether or not Bitcoin is a suitable payment method will depend on individual preferences and circumstances. While it may not be suitable for everyone, it is clear that Bitcoin has the potential to revolutionize how we conduct transactions.
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The Pros and Cons of Using Bitcoin As A Payment Method - Blockzeit
Bitcoin Thesis: A Guide to Understanding Bitcoin – Analytics Insight
A detailed guide to understanding Bitcoin gives its basic mechanics and the underlying principles
Bitcoin is a decentralized digital currency that uses encryption techniques to facilitate secure and anonymous transactions. While it may seem complicated at first, Bitcoin can be understood relatively easily with a bit of background knowledge. Bitcoin was created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. It was designed to circumvent the need for a trusted third party to facilitate transactions, instead of relying on a distributed network of users to validate and verify transactions. This makes it resistant to censorship, government intervention, and other forms of centralized control. This article gathers insights into Bitcoin through a Bitcoin thesis which is often a lengthy research paper that gives an argument or study on a particular topic in the context of academic writing. This detailed guide to understanding Bitcoin will help researchers and crypto newbies to know about Bitcoin.
The basic unit of Bitcoin is called a satoshi, named after the currencys creator. One Bitcoin is equivalent to 100 million satoshis, making it highly divisible and enabling microtransactions that would not be possible with traditional currency. Transactions are recorded on a public ledger called the blockchain, which allows anyone to see the history of every Bitcoin transaction.
The Bitcoin guide will let you know from inception to the current status. Bitcoin mining is the process by which new Bitcoins are created and transactions are validated. Miners use powerful computers to compete to solve complex mathematical equations, and the first miner to solve the equation earns the right to validate the newest transactions and add them to the blockchain. Mining is an essential component of the Bitcoin ecosystem, as it ensures the integrity and security of transactions.
Due to its decentralized nature, Bitcoin has become a popular investment option for those seeking alternatives to traditional currencies and assets. However, it is important to note that Bitcoin prices are highly volatile and can fluctuate greatly in a short period.
Investing in Bitcoin should always be approached with caution and careful consideration of the risks involved. Some experts argue that cryptocurrencies like Bitcoin could be the future of money and revolutionize the way we think about value and ownership. Others view Bitcoin as a speculative asset with no inherent value.
Ultimately, whether you choose to invest in Bitcoin or not, understanding its basic mechanics and the underlying principles behind it can be a valuable tool in navigating the rapidly changing financial landscape.
In conclusion, Bitcoin and cryptocurrencies represent an exciting and potentially transformative development in the world of finance. Whether you are interested in investing in Bitcoin or simply want to better understand the technology behind it, taking the time to familiarize yourself with the basics can be an excellent first step. Above all, it is important to approach Bitcoin and other cryptocurrencies with a spirit of caution and critical thinking, as the risks and rewards involved can be considerable.
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Bitcoin Thesis: A Guide to Understanding Bitcoin - Analytics Insight
BTC, ETH, and Signuptoken.com will lead the Future of Finance as … – Analytics Insight
Mystery man Satoshi Nakamoto created Bitcoin in the wake of the 2008 financial crisis. Nakamoto envisioned Bitcoin as the solution to the problems in the traditional banking system.
Now amidst another crisis at the banks, the case for a crypto-centered financial system is growing, and tokens like Bitcoin, Ethereum, and Signuptoken.com are poised to capitalize on the coming crypto revolution.
Bitcoin was created to be the lynchpin of a decentralised financial system that was based on the values of transparency and accessibility. Satoshi Nakamoto proposed Bitcoin as the answer to the lack of accountability, centralisation of power and opaque nature of the traditional banking system.
One main point that strengthens the case for Bitcoin is its decentralised nature. Decentralisation differentiates Bitcoin from central banks and the traditional financial system, where power is concentrated under a single authority.
Bitcoin transactions are verified and incorruptible, giving the token the advantage compared to the traditional system, which lacks accountability. Accessibility is also a major draw for Bitcoin compared to the financial system led by banks. The token is accessible to anyone connected to the internet.
Bitcoins bull run in recent weeks is an indication of its growing importance in the financial system. The cryptos value has increased by 21% in the month of March alone. As banks continue to be in crisis, Bitcoin has started to look like a more stable asset. Market volatility notwithstanding, Bitcoin can be a solid investment for future times.
The Ethereum blockchain powers most blockchain projects and is expected to be at the centre of innovations in the crypto world. Ethereum is the second largest crypto after Bitcoin and has been rising in value in the backdrop of the banking crisis.
The Ethereum blockchain can run a host of Decentralised Applications (DApps), and the network will lead a future financial sector led by decentralised financial services.
Ethereum blockchain constantly evolves and transitions from the energy-intensive Proof-of-Work consensus to the Proof-of-Stake consensus mechanism. The energy-efficient Proof-of-Stake consensus will drive down transaction costs without compromising the networks transparency and security credentials.
Ethereum blockchain can provide open, transparent and accessible solutions for a financial system transitioning to a crypto-based ecosystem. In the face of the coming fintech revolution, Ethereum looks to be a solid choice for investment.
Signuptoken.com is taking the road less travelled in crypto with its no-presale policy. The crypto project looks to add investors to its ecosystem by requiring users to sign-up on Signuptoken.com. Once signed up, users will receive an email about the tokens launch.
Users will get priority access to the token and can be part of the ecosystem for absolutely no charges. Signuptoken.com is unique for its focus on its community, and this aspect of the token can make it resilient to market volatility.
Signuptoken has set a target of a million sign-ups before it launches on Uniswap. The token gives its members a once-in-a-lifetime opportunity to be part of the millionaires club.
As the run on the banks has revealed structural weaknesses, the dawn of the age of crypto looks eminent. The value of Bitcoin and Ethereum will climb as the present financial system makes way for a financial system based on crypto. Both these coins will continue their dominance in the market and look to be surefire investment options for the future.
Signuptoken.com is already upending the rules of the crypto market with its no-presale policy and ecosystem plans. The project can make a million people millionaires by signing up on their ecosystem.
All it takes to be part of the Signuptoken.com ecosystem is just an email address. The project promises to transform its communitys financial future for free!
The time to grab the opportunity is now! Register your email address today with Signuptoken.com and be eligible for the biggest reward of your life.
Website: https://www.signuptoken.com
Twitter: https://twitter.com/_SignUpToken_
Telegram: https://t.me/SignUpToken
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BTC, ETH, and Signuptoken.com will lead the Future of Finance as ... - Analytics Insight
JP Morgan CEO’s Suggests Expropriations, This Could Drive Investors Towards Bitcoin – Bitcoinist
The CEO of banking behemoth JP Morgan, Jamie Dimon, made several controversial statements that could support Bitcoins bullish long-term thesis. According to a report from the Telegraph, Dimon claims that the government should seize private property to build renewable energy projects.
Disclaimer: The following op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.
The banking executive suggested this could be the only way for governments to reach their net zero carbon emissions targets. Dimon added that the window to fight against climate change is closing. Thus, the government should apply these desperate measures.
In a letter to investors, the JP Morgan executive said:
Permitting reforms are desperately needed to allow investment to be done in any kind of timely way. We may even need to evoke eminent domain we simply are not getting the adequate investments fast enough for grid, solar, wind and pipeline initiatives.
Dimon used the conflict between Russia and Ukraine as an argument that could justify the government carrying out eminent domain, a measure to nationalize property en masse. According to the executive, the war changes how the world plans for energy security.
When the conflict between these countries exploded, European countries were hit with higher energy prices. The energy crisis in the old continent led to a series of changes and less dependency on the Russian energy supply.
However, Dimon claims countries should do more to protect their energy security against all threats, including climate change. He added:
We need to do more, and we need to do so immediately.
To expedite progress, governments, businesses and non-governmental organisations need to align across a series of practical policy changes that comprehensively address fundamental issues that are holding us back. Massive global investment in clean energy technologies must be done and must continue to grow year-over-year.
Dimon called on investors, stakeholders, and regulators to unite and accomplish the goals we want. If the banking executive succeeds in his calling, these investors and stakeholders could lose millions of dollars on their properties.
In that sense, the decade-old decentralized network launched by Satoshi Nakamoto as a response to the 2008 economic crisis seems like the only alternative for investors that want to protect their assets. Bitcoin is the only asset that virtually cannot be seized by a central government or any other party.
Regulators and investors know Bitcoins capacity to offer citizens an escape from the fiat world. The former agents have been tightening their rules and laws on crypto and the nascent industry by locking people out of exchanges and companies from digital assets.
On the other hand, according to data from Bitfinex Alpha, investors have been accumulating more BTC as the world takes another step into totalitarianism, banks collapse, and growing economic uncertainty. The number of BTC addresses with non-zero balances reached a record high.
As seen in the chart above, these addresses continue their upward trend, despite the crypto winter. As the graph shows, Bitcoins adoption is to the upside as more people awake to the potential reality of the XXI century, a world of expropriation justified by a good cause determined by banking executives or the government.
Cover image from Unsplash, chart from Tradingview
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JP Morgan CEO's Suggests Expropriations, This Could Drive Investors Towards Bitcoin - Bitcoinist
The Internet of Money review7 years later – CoinGeek
Backstory
As a brand new bitcoiner, circa 2012-2015, I recall hearing the mellifluous cadence of Andreas Antonopoulos speaking in what I presumed were distinguished halls of higher learning. His words hopped and flowed with the timbre of an academic technologist but with an undercurrent of fire in his Bitcoin advocacy. His speeches effortlessly captivated me with his seemingly profound understanding of this complicated new technology.
Years later, the book The Internet of Money collectivized and canonized these speeches to the written word. I picked it up in 2016 and gave away a few copies as curios and gifts to my closest friends and my monetary activist allies of the era.
As I navigated the labyrinth of essays and talks, the depth of Antonopoulos insights into the world of Bitcoin was nothing short of breathtaking.
From the very first page, The Internet of Money enveloped me in an intoxicating blend of revolutionary ideas and audacious predictions, challenging long-held beliefs about the nature of money and its place in our interconnected world. As I progressed through the book, the tension between established financial systems and the untamed frontier of bitcoin became palpable. I was excited that finally there was more than criticism of the fiat system, but also a real, workable solution to the problems that activists such as myself could get behind, build upon and create a true competitive marketplace for money!
Armed with incisive wit and unapologetic candor, he endeavored to inspire readers to ponder the significance of this burgeoning technology, ultimately leaving them with a sense of wonder for the transformative power of bitcoin and the boundless possibilities it was believed to unlock in an increasingly interconnected world. Regrettably, time has demonstrated the fallibility of his once-illustrious predictions and cast a somber shadow over the once-promising future of bitcoin.
Cracks forming
Despite the initial promise and enthusiasm, it is with a heavy heart that one must acknowledge the authors inadvertent role in undermining his own advocacy. In his fervor to champion the cause of bitcoin, Antonopoulos may have contributed to the very pitfalls that have plagued its progress. By presenting a perhaps overly optimistic and idealistic view of Bitcoin as an asset (rather than as a network or the technology), he may have inadvertently fueled a feverish speculative bubble and fostered an environment ripe for opportunistic scammers and malicious actors at the expense of any epistemologically self-conscious discussion of Bitcoin.
As the once-luminous star of BTC dims, the challenges it faces become more apparent, and the schisms in Bitcoin culture deepen, its hard not to look back with disappointment and irritation about how things played out under the narrative stewardship of folks like Antonopoulos.
The shatter
While Antonopolous feigned support for sound money and the unstoppable nature of Bitcoin to fulfill the promises of a frictionless digital gold that was fundamentally intertwined with the internet, he reneged heartily when pressures mounted in 2017 to take a stand for Bitcoins fundamentals.
He, instead, chose to support a progressive view that Bitcoin was a soft protocol and open to change according to whatever opinions become popular. Popularity, in this case, is determined by low cost node endpoints that vote anonymously for changes that cannot be resisted once popularity reaches a threshold. In short, he believes in a sort of democratically governed technocracy for Bitcoin rather than it being an unchanging, sound money system.
Re-reading chapters of the book are tragic; heartbreaking. We really had a chance to change everything with Bitcoin, and Antonopoulos lack of fortitude contributed to making it culturally acceptable to treat bitcoin as a Hegelian popularity contest rather than a bullet-proof internet of money.
Is the book all bad? No. Much of it is good, especially in context of the era from which the content was created, but so much has been tainted by opportunism and schisms, and in hindsight, it is hard not to treat the work as one of a few bricks in a foundation made of sand.
The Internet of Money: 5/10. Would not recommend.
Today, you can find him writing about Ethereum and Lightning Network and testifying as an expert witness against Satoshi Nakamoto while principled bitcoiners work tirelessly and steadfastly in the BSV ecosystem.
George Gilder: Internet security and the scandal of money
New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.
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The Countdown Begins Public Nominations for the 14 Categories of the Inaugural NFTY Awards Close on April – EIN News
Official Poster The NFTYS
Public Nominations for the Inaugural NFTY Awards, Executive Produced by Web3 Entrepreneur Chris J. Snook and E! Co-founder Larry Namer, Close on April 15, 2023
Chris J. Snook
To be eligible for NFTY Award consideration, nominated candidates must demonstrate one or more of the following: inspire, enable, validate, empower, or unlock the potential, use, or education of people on the vast array of web3 solutions, and the necessity for web3 adoption through their work and project.
The nominees who make the final shortlist will be announced on May 15, 2023. Winners will be unveiled during the live broadcast to be held at The NIKO Theatre at Worre Studios in Las Vegas, Nevada at 8 p.m. EST on June 14, 2023. The NFTYS are executive produced by web3 entrepreneur Chris J. Snook and E! Entertainment Television co-founder Larry Namer.
Whats unique about The NFTYS is that qualifying nominees can compete alongside some of their favorite celebrities and their web3 projects, comments Snook. Some of our famous nominees who have received public nominations for certain categories in the early returns include Beeple, Steve Aoki, World of Women, Project 17, Punk6529, Gary Vaynerchuk, Michael Saylor, Raoul Pal, Caitlin Long, and Bored & Hungry, to name a few."
The NFTYS 14 categories are:
The Nakamoto NFTY- Innovator of the Year Honoring exceptional innovators driving ground-breaking advancements in technology in the name of Satoshi Nakamoto, the creator of Bitcoin.
The Unsung Trailblazer NFTY Celebrating hidden pioneers, past and present, shaping technology's future with impactful contributions.
The Cultural Tastemaker of the Year NFTY Recognizing influential web3 trendsetters shaping the cultural narrative through creative excellence that inspire mass adoption.
Web3 Fashion Innovator of the Year NFTY Celebrating visionary designers revolutionizing fashion in the decentralized web3 space.
Bridge Builder NFTY An empowering leader whose work is connecting web3 innovations to tangible, global change and movements.
Most Influential Celebrity NFTY Acknowledging prominent celebrities with their own projects and that are champions of web3, driving adoption and mainstream awareness.
Protocol of the Year NFTY Celebrating transformative blockchain protocols driving innovation and reshaping industries with their network effects and technology.
Visionary Immersive Reality-Artist of the Year NFTY ("aka The VIRA") Recognizing trailblazing visual and mixed-reality artists merging digital and physical realms, captivating audiences.
s3rv3nt Leader of the Year NFTY Honoring influential policy shapers and legislators driving progressive change for a better global society through web3 technologies, blockchain, and DeFi.
Open Source App of the Year NFTY Highlighting exceptional web3 applications that are transforming industries, redefining user experiences, and creating orders of magnitude gains in productivity or data security.
Thought Leader of the Year NFTY Celebrating visionary thinkers, researchers, and communicators inspiring change and shaping and advancing web3 industry discourse with insight.
Native Web3 IP with IRL Biz Collaboration of the Year NFTY Celebrating the most innovative blend of new (native) web3 or NFT Intellectual Property licensed to create a new in-real-life business or product for customers to love.
NFT of the Year in Sports, Entertainment, or Music NFTY Celebrating visionary use cases of Non-Fungible Tokens in the worlds of sports, media, and music for unlocking new business models for fan engagement and community commerce.
The People's Project NFTY- People's choice for most enthusiastic web3 project community by sheer number of unique nominations received.
People and projects qualifying for more than one of these categories can be nominated by the public, their following or themselves as many times as they wish, with only unique votes to be counted, for any of the categories, and in particular, The People's Project NFTY.
The NFTY is an iconic reflection on the historical depth that culture has always played in moving society into its next revolution or evolution, comments Snook about the award design. The award is a representation of the bold and bright future that lies ahead because of the creatives and innovators that earn her recognition.
Our goal with the presentation of the NFTY Award is to become a true career highlight for its winners, and a genuine keepsake befitting of the honor it bestows on its recipients, adds Namer.
Each NFTY will be simultaneously minted as a digital twin when awarded to the recipient on the XRP Ledger as part of the support received from the Ripple Creator Fund, with an enhanced and vibrantly animated 3D digital twin and model of itself with each winner's metadata. This will be stored on the Arweave PermaWeb to ensure an immutable historical record of the awards.
Brand partners seeking to be part of The NFTYS can request the sponsorship deck by emailing: sponsorships@nftys.org
ABOUT THE ACADEMY OF DIGITAL ART, SCIENCES, & CULTURE (ADASC) - ADASC is a social benefit diversified DAO advancing the benevolent use of breakthrough technology innovation across Art, Sciences, and Culture. Its membership includes a variety of invite-only and public tiers that form the decentralized and diverse nomination committee of awardees and grants at its annual public celebration and broadcast of The Annual NFTY Awards Gala. For more information about membership to the Academy and nominations for The NFTYS please visit https://nftys.org
Nicole GoesseringerThe NFTYSnicolekultura@gmail.comVisit us on social media:TwitterLinkedIn
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