Now when I first got into crypto a few years ago then really ramped up my investing this year my bank hassled me massively on the dangers of crypto, how volatile it was, how it’s not backed by government etc etc. However they couldn’t care less when I was gambling on roulette or blackjack at…
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Ever since I started investing in crypto I had to make my ''rookie mistakes'' – not having the full conviction, be scared by FUD, selling too early, buying too high and so on Ever since I started this journey I've been pretty open about it with my wife. Every time I did some change to…
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Terra, an algorithmic stablecoin project, will burn $4.5 billion worth of terra (LUNA), its native token, from its community pool. The decision was taken using the on-chain governance system, and according to proposals 133 and 134, the LUNA will be burned and swapped for the native stablecoin of the chain, UST. This burn is expected […]
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Did Steve Hanke find a way out of the hole he’s been digging himself into for all these years? The economist holds the world record for the person with the highest number of terrible Bitcoin takes, with almost 13 years of failed predictions. And now, out of nowhere, he seems to like the world’s second cryptocurrency by market capitalization. What does he like about Ethereum, though? The “560% price surge this year,” of course. But there’s more… Ethereum is giving Bitcoin a run for its money. Ethereum has become increasingly popular amongst DeFi and NFTs, resulting in a 560% price surge this year. Has the look of a bubble. But, is it?https://t.co/2fkvuNoRWz — Steve Hanke (@steve_hanke) November 12, 2021 Wait… is Steve Hanke into NFTs? The man said, “Ethereum has become increasingly popular amongst DeFi and NFTs” without a hint of irony. He also said, “Ethereum is giving Bitcoin a run for its money,” which is the most positive thing Steve Hanke has said about Bitcoin in over a decade. And, in the end there, he leaves space for possible deniability, “Has the look of a bubble. But, is it?” The economist also links to an extremely basic and clumsy CNN article. Is Steve Hanke warming up to cryptocurrencies? Or is there some other dynamic at play here? The Article Steve Hanke Linked To This run-of-the-mill article doesn’t really say much. Its main message is the price action anyone reading NewsBTC is probably already familiar with. “Ethereum, or ether for short, is also trading at record levels. It’s now hovering around $4,850, having soared more than 560% this year, compared to the “mere” 135% pop for bitcoin. Crypto investors are betting that ether will continue to be used as the backbone for even more non-fungible tokens, or NFTs, as well as so-called smart contracts.” Ok, what else do you got for us? Not much. It’s all over the place. It breaks down the total cryptocurrency market capitalization, introduces the concept of the mythical “flippening,” and tries to keep people away from meme coins. To accomplish this, CNN quotes Paxfull’s Ray Youssef saying, “Ether and bitcoin versus meme coins are like the difference between blue chips and penny stocks you get a call about from a guy in a boiler room.” The article also talks about inflation, how could it not?, and introduces ETFs into the picture. “The rise of bitcoin ETFs also could be good news for ethereum, because experts predict that similar ether ETFs could soon launch. That will make it even easier for average investors and big money management firms to buy into the crypto.” So, all in all, it doesn’t say much and the only clear fact it presents is that Ethereum had a better year than Bitcoin. Why did Steve Hanke link to it, then? ETH price chart for 11/13/2021 on Bitfinex | Source: ETH/USD on TradingView.com Is Hanke Trying To Find A Lifeboat? Here at NewsBTC, we constantly argue with Steve Hanke. Just in the last year, we responded to him calling Bitcoin not legitimate, not a currency, and the concept of it being legal tender “stupid.” And now, he seems to like Ethereum. Why? Is it because Ethereum’s internal policies are more akin to the traditional banking system he’s accustomed to? Or did Hanke realize that cryptocurrencies are here to stay and is too afraid to admit he was so wrong about Bitcoin for all these years? In any case, the main reaction in his replies so far is mockery. Even notorious Ethereum defender Udi Wertheimer said, “this is the most bearish ethereum signal i’ve seen in my entire life.” Let’s keep an eye on his Twitter feed and see what the economist says about Ethereum in the next few days. This is going to be interesting. Featured Image: RobinHiggins at Pixabay | Charts by TradingView
Hello, So we all know the usual (rather conservative in my opinion) statements by prominent investors or news outlets claiming the ideal spot of crypto in one's portfolio would be 5-10%. I'm pretty sure the people saying this are mostly rich as fuck though and not telling you that the other 90-95% of their portfolio…
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Everyone needs to stop using coinbase, they will track all your moves and the us government will have their way with this information. Meta is a trap, they want everyone’s data. Has anyone thought about what the future might look like when the majority of transactions are done within these centralized companies? Coinbase and meta…
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No matter what crypto subreddit you browse, there's a good that you will find a guy posting " just bought X with 3000$. DO NOT let these posts affect you. Anyone can post saying that they bought loads of coins, and I wouldnt be suprised if there were more organized "hype attacks" than we realize.…
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