Author: dfmines

Will the plan work? Soon, the Bitcoin Bonds will get the legal foundation they need. In a recent TV interview Alejandro Zelaya, El Salvador’s Finance Minister, said they will send the necessary bills to Congress. Soon. Reportedly, El Salvador will initially issue $1B worth of bonds, which will have a ten-year maturity and carry a 6.5% coupon. The bitcoin that backs them will be locked for five years. The project, announced by President Bukele at Labitconf 2021, includes plans to build Bitcoin City. More on that later. In a scheme worthy of MicroStrategy, El Salvador will spend half of the money on the construction of Bitcoin City and will buy Bitcoin with the other half. Will the plan work? Well, they have to sell the bonds first. And for those to exist, a regulatory framework is required. BTC price chart for 01/06/2021 on OkCoin | Source: BTC/USD on TradingView.com What Did El Salvador’s Finance Minister Say About The Bitcoin Bonds? In an interview in the local TV show “Frente a Frente,” Zelaya announced the plan’s following steps. Reuters reports: “El Salvador’s government will send to Congress about twenty bills covering financial markets and investment in securities to provide a legal foundation for issuing bitcoin bonds, Finance Minister Alejandro Zelaya said on Tuesday.” The Finance Minister didn’t specify exactly when they will introduce the bills. According to El Salvador In English, Zelaya said, “This type of legislation is what we are going to send to the Legislative Assembly to be able to give legal scaffolding and legal certainty to all those who buy the Bitcoin bond.” “El Salvador podría convertirse en un centro regional donde los demás países puedan emitir deuda, contamos con grandes ventajas como tener una economía dolarizada y ser de punta de lanza en materia cripto”, expresa el Ministro @AlejandroZelay9 en @Frentea_Frente. pic.twitter.com/uHbEzx4A3c — Ministerio de Hacienda (@HaciendaSV) January 4, 2022 Through the Ministry of Finance’s Twitter, they quote Zelaya being even more daring. “El Salvador could become a regional center where other countries can issue debt, we have great advantages such as having a dollarized economy and being pioneers regarding crypto.” It’s to cover and guarantee the #Bitcoin #VolcanoBonds, but also a full re-engineering of the economy and of the way a nation state does business. Everybody searching for freedom: this is the place to come 🇸🇻https://t.co/zupEKC3usB — Nayib Bukele 🇸🇻 (@nayibbukele) January 5, 2022 Adding fuel to the fire, President Bukele said via Twitter, “It’s to cover and guarantee the Bitcoin Volcano Bonds, but also a full re-engineering of the economy and of the way a nation state does business.” Not satisfied with that bomb, he added, “Everybody searching for freedom: this is the place to come.” What About Bitcoin City? Is That A Go? The Bitcoin Bonds will finance the construction of Bitcoin City, but, what’s that exactly? When President Bukele announced El Salvador’s plans, NewsBTC timely reported:  “According to Bukele, Bitcoin City will be a full-fledged metropolis with residential and commercial areas. It would also have shopping centers, restaurants, a port, an airport, and railway services. There would be no income, property, capital gains, or payroll taxes. Residents would, however, be subject to just value-added tax (VAT). This tax will go towards paying for the municipality’s bonds, public infrastructure, and city maintenance.” However, more recently, an investigative report by podcaster Anita Posch cast doubt upon the Bitcoin Bonds and the whole enterprise: “Apparently, the seemingly advanced plan for Bitcoin City was a collage. “At least some of the Bitcoin City presentation slides were downloaded from the internet and there was no detailed plan behind the announcement.” Not only that, the structure behind the Bitcoin bonds that will finance the whole operation was also improvised. “The way the Bitcoin bonds will work was finally decided only a few minutes before Samson Mow took the stage.” However, the plan is a go, and Blockstream’s Samson Mow is all-in on it. He recently tweeted the trailer for an upcoming documentary on El Salvador and its Bitcoin City plans. In the tweet, he threw an extremely optimistic, “Bitcoin is going to save the world and it starts here in El Salvador.” Here's an amazing trailer from @anna_tutova for a new documentary on everything that's happening in El Salvador and #BitcoinCity. #Bitcoin is going to save the world and it starts here in El Salvador. 🇸🇻🌋🚀@nayibbukele @WilliamSorianoH @fulloa51 @maxkeiser pic.twitter.com/GcBUV8d9RN — Samson Mow (@Excellion) December 29, 2021 Will the plan work? Is Bitcoin City a real project or a hastily put together mess? Do the Bitcoin Bonds offer a high enough return? Or are the Bitcoin Bonds too risky? Wouldn’t it be better for an investor to just buy bitcoin with that money? Or are we missing something?  To answer all those questions and more, El Salvador needs a regulatory framework to issue the Bitcoin Bonds. And the roughly twenty bills that guarantee that are on their way to Congress. Featured Image by Wilson Edilberto Santana Suarez on Unsplash | Charts by TradingView

Hi all, I have the following questions for a research. It seems that these information is hard to get as most sites only limit on very superficial information. What does an NFTs dataset in ethereum looks like? What information is stored exactly in the blockchain? If the content of an image NFT is not stored…
Read more

LegendsOfCrypto (commonly known as LOCGame) is the first play-to-earn GameFi project of Rbl Labs, a company based in Amsterdam – it focuses on NFTs (Non-Fungible Tokens) and bringing their use case to the blockchain gaming space. LOCGame is a pay-for-play and strategy card game that features several metaverse and play-to-earn features on a 3×3 battle grid. The game’s metaverse is an acknowledgment of the history of the crypto space and the pop culture associated with them. It also features many instantly recognizable playable characters in the form of popular influencers and celebrities in the crypto space. Rbl Labs, the company behind the game, has stated that future metaverses will be coming to the platform and will be announced in 2022. At the heart of this ecosystem is the $LOCG token. Let’s understand a little more about the project, the token itself, and why this asset has tremendous upside potential. LOCGame: Creating A Buzz In The Crypto Space The first-ever blockchain game to feature NFTs was CryptoKitties. Several other games also utilize NFTs, with another prominent example being Ethermon, which tried to build on this concept. LOCGame leverages the same concept, allowing individuals to buy NFTs and use them in a game featuring thousands of other players. LOCGame is an NFT project repackaged as a collectible trading card game. Unlike many other collectible card game startups that cloned famous Hearthstone gameplay, LegendsOfCrypto developed its own unique core gameplay based on Triad Battle.  The game utilizes blockchain technology to create unique, non-fungible assets that pay homage to the members of the crypto space. Players in the game can win NFT items, while card owners are eligible for various rewards from prize pools. The game leverages DeFi and DAO governance and is powered by the Ethereum and Polygon blockchains. Rbl Labs won a grant for Polygon as their layer-2 will power the game core, its DeFi economy, and its DAO governance model. It also makes cross-chain playability possible, enabling low transaction costs and high transaction speeds and acting as a bridge to the Ethereum blockchain. Used in tandem, both Ethereum and Polygon ensure the stability of the LOCGame ecosystem. The $LOCG Token: Powering the LOCGame Ecosystem The $LOCG token is the native cryptocurrency that sits at the core of the LOCGame ecosystem. The token brings the platform and game to life, acting as a governance mechanism and allowing users to earn rewards by playing the game or staking. Let’s take a closer look to understand how the LOCGame token can be utilized: Indirect rewards in play-to-earn mechanics Payment mechanism Access to communities, discounts, and perks Staking for rewards DAO governance The LOCGame ecosystem includes: Native NFT marketplace connected to third-parties on Polygon and ETH: https://marketplace.locgame.io Collectible strategy card game with free-to-play, play-to-earn GameFi features In-game reward token that can be used to purchase and upgrade playing cards – stake to earn $LOCG and other rewards The $LOCG token NFT collectible cards – the Genesis edition is fully dedicated to crypto industry famous characters Upcoming games complimentary to LOCGame Charity and social responsibility – 10% of NFT sales go to a good cause via Little Phil The $LOCG token is available on top cryptocurrency exchanges such as Gate.io, HotBit, Uniswap, ZT, and KuCoin. It has a circulating supply of 50,209,206 $LOCG, with a total supply of 148,053,144 $LOCG and a maximum supply of 150,000,000 $LOCG. Why $LOCG Could Be a Good Buy The $LOCG token shows great potential at the moment due to several reasons working in its favor. Rbl Labs just launched the demo version of the game on Dec 16, 2021, where the community feedback is overwhelmingly positive. The next Alpha 2.0 will be released in early Q1 2022, where there will be a basic play-to-earn functionality introducing a new in-game token as well as new reward utilities for the $LOCG token. As the game evolves further in 2022, the utility for $LOCG will be expanded, thereby increasing the demand. The current market cap stands at only around $5.5 million, in comparison with $200 million+ market caps for working games such as Gods Unchained, Splinters, and other playable GameFi products. Typically, small caps are poised for huge growth once the product is launched. Additionally, with the support of major blue-chip investors (such as Signum Capital and NGC) and huge designer partnerships with artists from brands like Burberry and Prada, the $LOCG token is set to take off! The market is currently experiencing a frenzy in the play-to-earn space, and LOCGame will be at the forefront of this movement in 2022 with full functionality of the game on the horizon. With the launch of the platform scheduled in December, players will need to buy the $LOCG token before the game’s launch so that they can purchase NFT cards to play the game. The $LOCG token can also act as a payment mechanism and gain access to discounts, governance, and staking. Therefore, $LOCG has massive potential upside for 2022 and beyond. The Future of Play-to-Earn NFTs LOCGame is redefining the blockchain gaming space, bringing several new features backed by the platform’s cutting-edge technology. The LOCGame ecosystem is designed to give its users an immersive experience that takes a new spin on the utility of NFTs. On another note, LOCGame’s Genesis Edition NFT Sale took place on 4th of December, and with the launch of the game almost upon us, there’s an unbelievable amount of hype around the game. Add to this mix words of endorsement from behemoths of the crypto space, Bitboy, Crypto Lark, Crypto Stach and Carl the Moon, LOCGame promises to turn the NFT gaming space on its head. The $LOCG token has a lot going for it, set to soar to new heights.      

Binance’s NFT marketplace is introducing its NFT Subscription Mechanism, a new feature that claims to give buyers a fair shake.

submitted by /u/LuckyHash- [link] [comments]

Personal antidote; in April I asked my older brother if he held any crypto. He said yes, that he sold some Eth and made a few hundred. I told him no sell only hold. He said he was 'opportunistic' and 'didn't have diamond hands'. – Just last week we were driving in the car together…
Read more

submitted by /u/HabileJ_6 [link] [comments]

After a lot of deliberation, I just converted all my BTC to ETH. I have owned BTC on and off since 2015 and they're clearly worth a lot more now than they were then. It has been the first cryptoasset to be adopted as a national currency. BTC has been and will likely continue to…
Read more

Coinbase’s chief product officer has shared some predictions for 2022 regarding Ethereum’s scalability, the metaverse, decentralized finance (defi), non-fungible tokens (NFTs), and more. 2022 Predictions by Coinbase’s Executive Coinbase’s chief product officer, Surojit Chatterjee, shared last week 10 predictions of what the crypto industry holds in 2022. The predictions cover a range of crypto topics, […]

As the price of Bitcoin hovers just around $43,000, the cryptocurrency community is buzzing with expectation.  This is due to the sideways price action following Federal Reserve commitment to decrease balance sheet. Bitcoin and Crypto Market Crash The price of bitcoin fell below $44,000 shortly after the Federal Reserve’s December FOMC meeting notes re-confirmed efforts to regulate the balance sheet. After minutes from the Federal Reserve’s December FOMC meeting revealed that the regulator is dedicated to reducing its balance sheet and hiking interest rates in 2022, Bitcoin (BTC) and the wider cryptocurrency market plummeted as stock markets pulled back at the closing bell. BTC’s price dropped to $43,000 as stock markets corrected. This triggered a wave of liquidations that totaled $222 million in less than an hour. The market in bloodbath. Source: Coin360 According to TradingView data, Bitcoin was struck by a wave of selling that pushed the price to an intraday low of $43,717 after bouncing around support near $46,000 for a few days. BTC/USD Crash to $43k. Source: TradingView It is expected that the Fed will begin raising its benchmark interest rate in March, “which would mean that balance sheet reduction could start before summer.” Related article | Altcoin Underdogs Outperform Bitcoin To Kick Off 2022 Rekt Capital Foreshadows Similarities The chart below was posted by crypto analyst and pseudonymous Rekt Capital, showing the “many similarities between this BTC range and May 2021.” BTC/USD 1-week chart. Source: Twitter According to Rekt Capital, “Both saw BTC consolidate inside two Bull Market EMAs (i.e., green 21-week & blue 50-week EMA). If BTC is to repeat history, a capitulation event could take place where BTC briefly deviates below the blue 50 EMA.” If the price does not break back over $46,000, the market may be in for a prolonged bear market. BTC may retrace to the low $30,000 region. The Securities and Exchange Commission (SEC) of the United States postponed its decision on NYDIG’s spot bitcoin exchange-traded fund by 60 days on Tuesday (ETF). The delay led to a negative sentiment in the crypto markets, with several tokens experiencing a quick sell-off following the announcement. Related Reading | Bitcoin Open Interest Reaches Dangerously High Values, Leverage Flush Coming? Featured image from Unsplash.com, charts from TradingView.com, Coin360