The Central American country of El Salvador has added 410 Bitcoin (BTC) to its central reserve as BTC prices trade below $37,000, a price last seen on July 26th, 2021. The fresh addition to El Salvador’s BTC reserve was announced by President Nayib Bukele, who confirmed that the purchase of 410 BTC was made against $15 million, placing the price…
The Botswana government is set to present a “Virtual Asset Bill” to the country’s parliament, a move that could see it become one of the first countries in Africa to have laws regulating cryptocurrencies. Preventing the Proliferation of Risks Associated With Cryptos A Botswana government draft document that proposes to regulate new and developing virtual assets businesses, as well as…
Regulators continue to debate how to define cryptocurrencies, such as bitcoin, and whether they are securities, commodities or properties, etc., which is critical for how regulators choose to enforce those regulations. At the recent National Association of Attorneys General Consumer Protection Conference in November 2021, Hester Peirce, commissioner of the U.S. Securities and Exchange Commission (SEC), commented on the issue,…
Trading platform Robinhood has begun rolling out crypto wallets to 1,000 customers. Users can send and receive their cryptocurrencies from Robinhood to external crypto wallets, the company explained, adding that by March, 10,000 customers will be testing the wallets before rolling out to the rest of the waitlist. Robinhood Lets 1,000 Customers Test Its Crypto Wallets Popular trading platform Robinhood…
The first computer games were developed in the late 20th century with the sole purpose of entertaining their audience. One of the first goals was to distract players from their routine work and provide them access to a fantasy world. Very soon, games began to compete for users’ time against traditional forms of entertainment, such as movies, circuses, theater performances,…
The mayor of New York City, Eric Adams, has received his first paycheck in bitcoin and ether via Coinbase. “Promise made, promise kept,” the mayor said, referring to his promise to take his first three paychecks in cryptocurrency. Mayor of New York City Takes Paycheck in Cryptocurrency With the Help of Coinbase New York City Mayor Eric Adams has made…
Many a Bitcoin maxi have been asked the question, “Ok, but how does bitcoin replace the dollar?” Here’s my attempt to answer that question. This will be a short series, the first of which discusses what caused us to lose the gold standard, the second discusses architecture and the third seeks to offer solutions within those frameworks. I’ll begin by…
People often say: “bitcoin can’t be money, it isn’t backed by anything.” This is an old way of thinking that originated with paper money. Prior to paper money, people used precious metal coins (such as gold) because they maintained strong monetary properties: scarcity, durability, divisibility, portability, fungibility, and acceptability (the six monetary properties). Paper became money because it was superior…
Just how easy is it to get rid of nearly $7 billion worth of a cryptocurrency that you don’t want? Probably a lot harder than you might think, according to Ethereum co-founder Vitalik Buterin. During a visit to the UpOnly Podcast yesterday, Buterin discussed several topics throughout the course of an almost two-hour interview with hosts Cobie and Ledger, including…
Blockchain-based play-to-earn (P2E) gaming had a breakout year in 2021, and as the cryptocurrency ecosystem evolves in 2022, the P2E gaming sector and those that invest in it will need to consider what the next steps are. During bull markets, vaporware, speculation and euphoria can lead to unrealistic valuations and expectations, and this appears to also have impacted the P2E…
