May 12, 2018 — Ethereum (ETH) has delisted from Kraken. Detailed explanation of the reasons.
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“Hodler’s Digest” is a weekly digest of what we’ve noticed on Twitter, Reddit, Telegram, Ethereum news websites, and other cryptocurrency media outlets. It is meant to be an easy way for people to find out what’s been going on in the world of cryptos, and a quick way to share information with the rest of the Hodlers.. Read more about hodler’s digest and let us know what you think.Every Saturday, the Hodler Digest helps you stay on top of all the important news of the week. The best (and worst) quotes, highlights of introduction and regulation, top coins, predictions and more – the week on Cointelegraph in one link.
News of the week
Largest ever bitcoin event kicks off in Miami
Sun, sea and Satoshi were on the agenda for the largest Bitcoin event in history that kicked off in Florida. Organizers expected a massive turnout for the event, with some predicting attendance in excess of 50,000. On the first day, Michael Saylor, CEO of MicroStrategy, spoke about his experience in the world of cryptocurrencies. He said: I realized that I first bought bitcoins a year ago yesterday, so this is the end of my rookie year. Jack Dorsey, CEO of Twitter and Square, has also said that bitcoin is absolutely changing everything. He told the confreres: We don’t need the current financial institutions – and to create money for the world, it needs to be developed internationally. A particularly enlightening discussion of the scene was led by Brian Brooks, a former regulator turned CEO of Binance.US. He said: If you have never worked in a large bank, you have no idea how serious this problem is.
Mati Greenspan vs Maxis at Shitshow 2021
For many, Bitcoin 2021 in Miami will be the first physical event since the start of the coronavirus pandemic, with celebrities, cryptographers and CEOs all making an appearance. Unfortunately, it is impossible to please everyone all the time. Quantum Economics founder Maty Greenspan tweeted an innocent comment about Bitcoin 2021 being the biggest crypto conference in history! But he was quickly corrected by Bitcoin editor Pete Rizzo, who said: This is a conference about Bitcoin, about Bitcoin. Bitcoin is a subject, so it is used as an adjective. To be fair, the organizers have made it clear that this is a bitcoin-only event, meaning altcoins are not allowed. But as DeFi Pulse founder Scott Lewis reflected at ….. Is it really possible to not talk about Ethereum for two days?
Discounted bitcoin will reach $100,000 rather than $20,000 in 2021, says Bloomberganalyst
While the party in Florida is in full swing, the fact that bitcoin is struggling to break the $ $40,000 barrier is certainly overshadowing the proceedings. Mike McGlone of Bloomberg Intelligence, however, believes there are still plenty of reasons for optimism. In his latest Bloomberg Galaxy Crypto Index report, he said BTC is stronger, greener and less stretched than at the height of the rally in April. He also said that the bitcoin bull market appears to be holding up and that a $100,000 price target is more likely than a pullback to $20,000. Unfortunately, not everyone agrees with McGlone’s prediction, as May was the worst month for the price of bitcoin in 10 years: JPMorgan strategist Nikolaos Panigirtzoglu wrote in a research note that weakening institutional demand could push BTC below $30,000.
Feast or famine for Dogecoin as Coinbase pump makes whales return
Dogecoin, which some have called digital plastic this week, has seen some growth recently. The price of the fiat cryptocurrency soared 40% in one day, driven by Coinbase’s announcement that it would open its doors to DOGE deposits on. The month of July will be open. DOGE’s rise took away more than $16 million in bearish leverage in an hour, and the altcoin has nearly regained its pre-collapse highs. An analyst, @HsakaTrades, said the bored market is trending towards DOGE and away from other altcoins.
Sales of NFT have dropped by 90% since the market peak
We’re all painfully familiar with the endless statements about the death of bitcoin. With unplayable chip sales down 90% from their peak in early May, some are talking about the death of NFT. After selling in one day to NFT for 102 million dollars on May 3, only s worth 19 million dollars were sold last week. In seven days, more than $170 million worth of NFTs were sold on both sides of the market cap, down nearly 90% since then. Similarly, the number of NFT portfolios showing signs of activity on a daily basis has fallen from to 70% since the beginning of May, after rising from 12,000 to 3,900. NFT’s sales and portfolio movements declined in all token categories, including gaming, decentralized finance, collectibles, art, utilities, metavers, and sports.
Winners and losers
At the end of the week, Bitcoin stands at $37,733.41, Ether at $2,787.12 and XRP at $0.99. The total value of the contract is $1,710,804,430,870. Among the top 100 cryptocurrencies, the three altcoins that gained the most this week were Theta Fuel, Curve DAO Token , and Siacoin. The three biggest losers of the week are UNUS SED LEO, Decred and Nano. For more information on crypto currency prices, be sure to check out Cointelegraph’s market analysis.
Most memorable quotes
Who forgot to invite Elon to the #Bitcoin conference? David Gokhstein, founder of Gokhshtein Media It is more likely that bitcoin will move back towards $100,000 resistance than consolidate below $20,000. Bloomberg Intelligence If someone buys and sells gold, they are taxed, they can do that. If you make a profit in bitcoins, read the stories of people who are taxed. You can’t tax money, you shouldn’t tax it. Ron Paul, former presidential candidate Digital currencies are not a substitute for gold. If they are a substitute for copper at all, they are risky, high-risk assets. They are a substitute for hedging the inflation risk and not a hedge of the inflation risk. Jeff Curry, Global Head of Commodities Research, Goldman Sachs When something becomes important enough, things like consumer interests and money laundering come into play. So there is every reason to believe that [the ordinances] will be enacted. Stefan Ingves, Director Sveriges Riksbank
Bitcoin proponents give conservative estimate of hyperbitcoinization in 10 years
Back to Miami, where a revealing discussion suggested that hyperbitcoinization – the moment when BTCs will take over global finance – is only a decade away. Don’t get me wrong, it won’t be easy. The goal is to connect billions of new users by 2031. On the other hand, bitcoin has already attracted hundreds of millions of users over the past decade. Parker Lewis of Unchained Capital is one of those with high hopes. He said: I think based on the historical acceptance of bitcoin, and based on the trillions of dollars the Fed will have to print in the coming months and years, it might be safe to say that bitcoin will be the unit of account in 10 years. Cyphedean Ammus, author of The Bitcoin Standard: Decentralized alternative to a central bank, was a bit more conservative. He expects it to take 16 years… or four more rounds of division. And Kraken’s Dan Held believes hyperbitcoinization won’t happen for at least another decade….. unless fiat currencies undergo a rapid devaluation.
FUD of the week
Even Vitalik Buterin is surprised at how long it takes to produce Eth2.
Ethereum co-founder Vitalik Buterin has admitted that the long-awaited transition to a proof-of-stake consensus mechanism is taking much longer than expected. At a conference in Hong Kong he spoke partly in Mandarin: We thought it would take a year to prove the action, but in reality it takes six years. If you’re doing something complicated and you think it’s going to take a long time, in reality it’s probably going to take a lot longer. Buterin added that in the five years it has taken Ethereum to get where it is today, there have been many internal conflicts within the team. One of the biggest problems I’ve had with our project is not technical, but human, he said. According to the current roadmap, Eth2 may not reach the scalability enjoyed by large enterprise applications until late 2022.
Google lifts 2018 ban on ads for cryptocurrency exchanges and wallets.
Google has rolled back three-year-old rules that prohibited cryptocurrency exchanges from using its advertising services. But the new guidelines will not open the door to the vast majority of cryptocurrency institutions, as advertising for Initial Coin Offerings, DeFi trading protocols, or any other promotion of the purchase, sale, or trading of cryptocurrencies or related products remains prohibited. Google’s policy on cryptocurrency ads has often been controversial, and in some cases experts have called it unfair. Expect a battle between Binance.US and FTX as they vie for market share in the state.
Apple co-founder Steve Wozniak loses bitcoin fraud case against YouTube
YouTube is not responsible for cryptocurrency-related fraud posted on its platform, according to a recent court ruling. Apple co-founder Steve Wozniak has been ruled against in his lawsuit against YouTube over an ad that used his likeness to promote a fake bitcoin donation. Judge Sunil Kulkarni of the Santa Clara County Supreme Court said in a preliminary ruling that YouTube and its parent company Google are protected by Section 230 of the Communications Decency Act, a federal law that protects Internet platforms from liability for content posted by users.
Coup de grâce for Chinese crypto-currency miners? Truck on the road after state intervention
Recent developments in China have caused cryptocurrency miners to re-evaluate domestic risks, as they may now want to expand internationally.
Promised Land CBDC: While some governments fail, others continue to act.
Regulatory barriers and the economic impact of the pandemic have derailed a number of CBDC projects, but all hope is not yet lost.
We tracked down the original bitcoin playerLambo.
This is the story of Jay, who created the meme by buying a Lamborghini for bitcoins. He went from a poor existence to a wealthy lifestyle – but not without worrying about the safety of his family.
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