I see this narrative spread on this forum and elsewhere. But let's be real about what Tornado Cash is. I'm not saying that it should or shouldn't be banned. I'm saying a lot of people are spewing a lot of bullshit defending Tornado Cash. At least use arguments that make sense. Sure Tornado Cash code…
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Many people are reacting differently to the current condition of Bitcoin and the global economy. In the past two consecutive quarters, the US has posted negative GDP, leading to a rate spike by the Feds. Though some individuals are stating that there is yet no inflation, its impact is gradually manifesting. The President and CEO of Franklin Templeton, Jenny Johnson, has aired view on the current global economic condition. Johnson stated that while the financial condition is in a sad state, Bitcoin remains its best distraction. CEO Johnson related her opinions during a recent interview. She mentioned that the prevailing economic situation is acting as a disruption. Related Reading: Will Ethereum Breach $2,000 Before The Merge? In her terms, it’s the best to happen to financial providers at the moment. Though several see Bitcoin as digital gold and an asset that could create a hedge against inflation, Johnson has a different stance. To her, BTC is just consumers’ distraction from all prevailing financial problems. Also, the CEO has no belief that governments could make Bitcoin a dominant asset for foreign exchange. She said that it was beyond typical confidence for that to happen as numerous arguments would erupt. When it comes to blockchain technology, the CEO has an impressive option concerning that. She called it the sports change, stating that it will bring a positive difference possibly to all industries. Johnson maintained that Franklin Templeton still offers cryptocurrency services to its clients. Also, the company is not planning to stop such service options now. Franklin Templeton is an American multinational holding firm. It boasts several subsidiaries. It functions as a global investment company and was founded in 1947 in New York City. Global Destructive Outplay But Bitcoin Gained Momentum Over the past few years, the entire global system had a devastating impact from the spread of COVID-19. This remained one of the great world pandemics that claimed millions of people from different countries. With the invasion and effect of the pandemic came a distortion in various aspects of life, especially social life. The overall impact on the financial system was quite massive. Related Reading: Market Sentiment Shoots Up As Bitcoin Eyes $25,000 To maintain the float of the economy during the crisis, some countries central banks, especially the US Federal Reserve, printed more fiat currency. However, such a process is taking a negative pull after two years. The world is generally battling a rising inflation rate with other factors. Russia and its president, Vladimir Putin, received the blame from the Western world, pioneered by the US. They further cut off financial connections with Russia. Also, Russia has taken the top as the most sanctioned country globally. But Russia decided to make its retribute by stopping gas deliveries to some European states. Most of the states have no alternative source and have become stranded. This action conversely hiked electricity costs, leading to an increase in price for all goods. The entire outplay of events is becoming more destructive. Featured image from Pixabay, chart from TradingView.com
The Indian Directorate of Enforcement froze $46.4 million in the accounts of Vauld’s Indian branch until the exchange can account for the criminal proceeds it transferred out of the country.
Reading through this subreddit I often stumble on the term 'red Monday' and 'dildo Sunday'… It seems that there is a prevelant opinion that during weekdays the crypto market is pumping while dumping on weekends. The current mantra is buy when it's low and sell before it dumps, right? Strategy: Therefore I simulated the following…
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Majority of the DeFi tokens in the top-100 traded in green along with rest of the market in the wake of new CPI data release and several tokens registered doubled digit gains.
So most all of us have heard lies about crypto for some time now. This being that it is illegal, that the gov will make it illegal any day now, that it will replace the $, and so on. What is the funniest lie have you heard about crypto? What is the most common lie…
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What is causing Ergo to pump so much right now? The rest of the Crypto market seems to be doing ok in rallying but for some reason Ergo is really pumping. Has anything fundamentally changed with this project? Has Ethereum merger caused this coin to pump and what do you guys think about the future…
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Is there a mobile web3 wallet with hardware support on Ethereum? I know Solana has solflare, but does Ethereum have anything equivalent? Metamask has been "working on it" for a while now it looks like judging by their GitHub thread but it's still not supported. I'd really appreciate the ability to access my locked funds…
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As the launching of the long-awaited Ethereum upgrade, Merge, approaches, there’s a spike in institutional investment. Ethereum products are receiving more attention from big-shot investors. Though there is no stated period for the Merge, most developers anticipate the upgrade by September 19. However, most Ethereum derivatives are getting more investment deals as the final phase details are revealed. James Butterfill, the Head of Research of CoinShares, stated that investors’ sentiment for Ethereum products is changing. Butterfill made this known in the latest edition of Digital Asset Fund Flows Weekly Report. He noted that the sudden intensity and desire from the investors is due to the Merge approach. According to the report, most institutional investors make preferential investments in Ethereum products. Hence they are pushing in more funds as they believe in the great possibility of the Ethereum network. To them, upgrading the global second largest cryptocurrency would create a more positive and profitable impact. Due to the change in sentiment, the report noted that Ethereum had seen more inflows amounting to about $16 million. This resulted in a seven-week pattern of inflows that accumulated up to $159 million. Related Reading: SOL Makes Another Shot At $44, After Two Failed Attempts This Week So, Butterfill reports that the change in the investors’ sentiment signifies more clarity with the Merge’s timing. This would create the desired transition for the Ethereum network as it moves from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Ethereum blockchain has been operating with a PoW consensus mechanism for its transaction validation and security of its network. Unfortunately, this involves using the mining process that consumes more energy or electricity. But the Merge would transform the system of operation for the blockchain. First, it would start using the more energy-efficient staking process that requires the staking of ETH tokens. Plan For Ethereum Merge Has Been A Tough One The plan for the shift has been delayed for several months. But as the date for the launch approaches, Ethereum proponents are having their fun-filled season. The journey has taken several rough routes that include changes in roadmaps, ambiguous terminology, and, lastly, the recent opposition to the Merge. On the part of its founder, Vitalik Buterin, he kept announcing all the possible hard forks to the transition. This action is an excellent advantage for any PoW blockchain that may opt for a change in the future. However, some prominent personalities in the industry don’t mind a hard fork. For example, Justin Sun, the founder of Tron, pledged the listing of both ETHs and ETHw tokens on his Poloniex exchange. Also, BitMEX revealed its support for any ETHPoW fork. Once it finally happens, it will link the Ethereum mainnet and the Ethereum 2.0 Beacon Chain for a complete transition to PoS. Hence, Ethereum 2.0 would receive increased efficiency and security in its execution of transactions.’ Related Reading: Cardano Tests $0.51 Support – Can ADA Reach Safe Zone And Hit $0.67? Also, there would be a drastic reduction of carbon emission into the environment by over 99% as the network become energy efficient. This was one of the main criticisms against Ethereum as a PoW network. Featured image from Pixabay, Chart from TradingView.com
This past April, records show that 19 million bitcoins have been mined into existence and 133 days later, there are 1.88 million bitcoins left to mint today. The network’s block subsidy halving is expected to occur on or around April 20, 2024, as there are less than 91,000 bitcoins left to mine until that point. […]
