My weekly blog posts all around crypto market activities and blockchain technology
<Right now Bitcoin feels like the Internet before the browser>
I got into Bitcoin and blockchain technology for the first time in 2016. Back then I was working as a mobile app and web developer as a side geek next to my studies. During this time, a guy named Justin Smith (regular author at the Bitcoin Magazine) approached me if I am interested to work on a crypto project. It was about a mobile wallet to allow Monero users to transact in a peer-2-peer manner. Long story short, he was paying me in Bitcoin and since then I got hooked into this new world. With my weekly posts, I want to bring you this world closer to you. This includes on one hand everything related to the current market activities, new players in the industry and interesting use cases as well as more educational topics such as what is the difference between proof-of-work vs. proof-of-stake. I hope you enjoy it. Subscribe to my newsletter at the bottom and never miss out when a post is live.👨🏽💻
In the old days, countries whose currencies collapsed would dollarize – they’d import dollar bills and start using that as money. Ten years from now, that will be a relic. Countries will dollarize using permissionless stablecoins, and central banks around the world will ultimately fear crypto-dollarization as a check against runaway inflation.
Bitcoin miners generated more than $15 billion in revenue during 2021. Bitcoin miners made more than $15 billion in revenue over the course of 2021. The estimate represents a year-over-year increase of 206%. It should be noted that the estimate is premised on the notion that mining companies sell their accrued digital assets to pay for electrical power and other resources; some miners hold on to some of their mined coins.
Kickstarter plans to move its crowdfunding platform to the blockchain. Crowdfunding platform Kickstarter is making a big bet on the blockchain, announcing plans to create an open source protocol “that will essentially create a decentralized version of Kickstarter’s core functionality.” The company says the goal is for multiple platforms to embrace the protocol, including, eventually, Kickstarter.com.
BitMart Crypto-exchange loses $150m to hackers. The latest centralized exchange hack may be among the most devastating to date as BitMart has lost $196 million in various cryptocurrencies. A tweet from security analysis firm PeckShield first called attention to the alleged hack Saturday night. One of BitMart’s addresses currently shows steady outflows of entire token balances, some worth tens of millions of dollars, to an address currently labeled by Etherscan as the “BitMart Hacker.”
El Salvador’s ‘Bitcoin City’ plans. El Salvador, the only country in which bitcoin is a legal tender, is going to build an entire city based on the largest cryptocurrency by market value, President Nayib Bukele told a raucous crowd in a Saturday night presentation at Bitcoin Week in El Salvador. “Bitcoin City” will be located along the Gulf of Fonseca near a volcano. The government plans on locating a power plant by the volcano to provide energy for both the city and bitcoin mining, the president said.
Iconic L.A. stadium is renamed Crypto.com Arena. Crypto.com will replace Staples as the title sponsor of downtown Los Angeles’s iconic arena, the most recent high-profile sponsorship move by the Singapore-based cryptocurrency exchange. Owned and operated by Anschutz Entertainment Group, the venue will unveil its new name on Christmas day during a Los Angeles Lakers home game, according to a statement from the company.
Apple CEO owns crypto. The CEO also confirmed that he personally owns crypto, though explicitly stated that this is not investment advice but his personal opinions in regards to his own portfolio. Furthermore, the company Apple does not have any holdings in crypto, nor does Apple have any plans to join the countless companies that have already added crypto to their portfolio.
The Squid Game scam. After debuting last week on PancakeSwap and DODO, the Binance Smart Chain token based on the hit Netflix show “Squid Game” reached an all-time high of $2,856 before its website, social media accounts, and money abruptly disappeared this morning. An address traded in the SQUID tokens for BNB tokens worth over $2 million.
Ethereum meme token SHIB flips dogecoin as Bitcoin slumps. Shiba Inu was pegged by some as a Dogecoin knockoff when it first caught fire this past spring, but now the apprentice token could soon become the meme master: SHIB has launched into the top 10 coins by market cap and has now overtaken DOGE on the list.
The Bitcoin Futures ETF ProShares is one of the most traded ETF ever. The first-ever exchange-traded fund (ETF) backed by bitcoin futures hauled in some $570 million of assets on its first day of trading, a sign of just how hungry investors remain for bets on the cryptocurrency as prices approach a record high.
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