EddieJayonCrypto
26 Apr 22
• The leadership of the European Central Bank continues to bark about the "Wild West" called cryptocurrencies• Bank of Canada Governor Tiff Macklem, the Canadian Dollar would remain the focus of the country's financial system• Bitcoin Mining Council says mining efficiency seems to be up 63% year-ove...
• The leadership of the European Central Bank continues to bark about the "Wild West" called cryptocurrencies• Bank of Canada Governor Tiff Macklem, the Canadian Dollar would remain the focus of the country's financial system• Bitcoin Mining Council says mining efficiency seems to be up 63% year-over-year• Fidelity Investments, one of the world's largest investment firms, has introduced a feature to allow investors to diversify their 401K savings accounts with Bitcoin• 2 Europeans indicted for a North Korea crypto conspiracy; a US citizen has already pled guiltyThe stock market is getting hammered and it is spilling over into the crypto space. Here is what is on my mind today.1. The EU is at it again. They are so spooked by even the notion of cryptocurrencies that they just keep spewing rhetoric. Well, today is no different. Fabio Panetta, a European Central Bank official, has stated that crypto is like the "Wild West". Looking at how the ECB is leaning, you realize any regulation coming from them would most likely attempt to deal a harsh blow to the burgeoning technologies. I think there is an opportunity for them to learn more about the underlying technologies and how they can instead be leveraged to help strengthen the global economy. Again, I point to failing fiats around the world. 2. According to Bank of Canada Governor Tiff Macklem, the Canadian Dollar would remain the focus of the country's financial system even in the face of a growing calls for the development of a stablecoin. An opposition leader is also pledging to make Canada the blockchain capital of the world. There are a lot of other countries already in the running for the title, but I get the sentiment. It would be a 180 given Canada's current track record. 3. The Bitcoin Mining Council says mining efficiency seems to be up 63% year-over-year. They give credit to advancements in semiconductor technology and a 59% increase in sustainable electricity. With so much negativity hovering over Bitcoin mining I am happy to learn some more facts. Still, proof-of-stake does consume less than proof-of-work coins like Bitcoin and DOGE. 4. Fidelity Investments, one of the world's largest investment firms, has introduced a feature to allow investors to diversify their 401K savings accounts with Bitcoin. I am not expecting a huge influx of money, but I do expect such investments to grow over time. I also appreciate the rather significant nod from a firm that has over $4T in assets managed. 5. You can run, but you cannot hide from the long arm of the law. The United States has charged 2 Europeans with having ties to a North Korean crypto conspiracy. They were indicted in the much-fabled Southern District of New York. Alejandro Cao de Benos of Spain, who created a pro-Pyongyang affinity group, and Christopher Emms of the United Kingdom, a so-called cryptocurrency entrepreneur, were both charged with hiring Virgil Griffith to broker their Bitcoin and Blockchain skills to North Korea. Apparently, they held a class where they taught north Korean leaders how to use crypto to evade sanctions. Griffith, a known hacker, pled guilty and was fined $100K.