tl;dr
Here is what is standing out to me today:1. Let's talk NFTs. Some people think the current and most popular use case, electronic art ownership, is a passing fad and even some of it is related to scams. Well, a tweet from Paul Graham, a well-known computer scientist and VC investor says, "Even if I w...
Here is what is standing out to me today:
1. Let's talk NFTs. Some people think the current and most popular use case, electronic art ownership, is a passing fad and even some of it is related to scams. Well, a tweet from Paul Graham, a well-known computer scientist and VC investor says, "Even if I were sure that most current uses of NFTs were bogus, I'd never dare to say that all possible uses were." Coming from him that says a lot about the future uses NFTs
2. North Korea is using millions in stolen crypto to pay for its missile program
3. Russia is poised to invade Ukraine and it looks like the market has already baked it in. The biggest loser here could be Germany because of their almost dire reliance on Russian energy.
4. Shiba Inu is on fire and that's because they are close to launching their layer 2 blockchain. This would increase their speed, decrease congestion and be far more cost effective for handling transactions. This is, of course, huge news, but this little meme-no-more has a lot more up its sleeve, like the burning of more coins. This should also help to drive the value of the coin higher.
5. "The Bitcoin Family" has settled down in Portugal. This is the family that sold everything they had, including retirement accounts, emptied bank accounts, and bet it all on Bitcoin in late 2016. They also vowed to not pay for any goods or services unless they could do so with Bitcoin. They believe Portugal is a great tax haven for crypto. There is still a long way to go to get crypto more mainstream, but if they have been doing it since 2016, then I still have hope for global acceptance.
6. Arizona is trying to make big moves to be the most crypto-friendly state in the union. State Senator Wendy Rogers has introduced a bill exempting cryptocurrencies from property tax. Bill SCR1013 would first make digital currency legal tender, as they have in El Salvador. Such a law would go against the US Constitution that bars any state from making anything but gold and silver coin as tender in payment of debts. I think this will be quite interesting to watch play out.
7. We all knew they would be in the game, but Google has now gone on the record saying they are developing Web3 strategies and blockchain products.
8. Looking at how cryptocurrencies are being addressed around the world, Nigeria has a ban on cryptos that's enforced by the Nigerian Central Bank. Even with that ban in place person-to-person crypto trading has increased 15%. Like I have been saying, if you squeeze too hard, people will find a way to use cryptocurrencies anyway. It would be far better to implement a fair regulation strategy. At least that way the government would be able to grow income while still allowing its people to leverage the technologies.
🔥 Check out my new NFT: https://opensea.io/assets/matic/0x2953399124f0cbb46d2cbacd8a89cf0599974963/70107227251895808812277070274325079555192346213643448933819430980363338383361/
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