You made it! :) First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes). This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn). This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally. "The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay" Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment. Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations. Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA). “The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.” More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin. Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets. AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money. “After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.” Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders. Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest! If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them. Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel See you soon!
🍕 Bring some virtual pizza to share 🍕 Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments! Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S. Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok. ... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
Approximately 10 years ago, someone paid 10,000 Bitcoin for two pizzas, but what happened to those coins after the purchase? Coinfirm has found out. Hanyecz is a programmer and a Bitcoin miner who contributed to Bitcoin’s source code during the early days of the network when 1 BTC was less than a penny. 10,000 BTC Was Worth $30 In 2010 Having mined tens of thousands of BTC, Hanyecz decided to demonstrate the proof of concept of Bitcoin by posting on BitcoinTalk that he would give up 10,000 Bitcoins in exchange for a couple of Pizzas. Only 11 days after celebrating Bitcoin [BTC] halving, yesterday, crypto enthusiast and teams celebrated an iconic story of one of it’s first retail transactions by eating pizza. It was the day (22nd May 2010) when an early Bitcoin miner, Laszlo Hanyecz, spent 10,000 BTC to purchase two pizzas at a Papa John’s outlet. ¿Te imaginas cuánto costará Bitcoin en 10 años? Esta es la historia de alguien que no lo pensó hace 10 años... Laszlo Hanyecz paid 10,000 Bitcoin for the 2 Papa John’s pizzas. That amount of BTC is now worth a staggering $97 million at today’s price (8 May 2020) of roughly $9700/BTC. Yes, that’s $97,000,000 dollars! As much as Laszlo is admired and considered a folk hero by early adopters and newcomers alike, the industry won’t let him forget just quite the size of his generosity! Bitcoin Pizza ... Bitcoin Pizza Day: 2 Pizzas Bought for 10,000 Bitcoins in 2010 Now Worth $91 Million May 22 2020 · 09:45 UTC Updated May 22 2020 · 14:50 by Daria Rud · 3 min read Photo: Shutterstock Buy Bitcoin on Binance! How to view the 10,000 bitcoin pizza transaction. Pizza Day is an auspicious day in Bitcoin history commemorating the purchase of two large pizzas in exchange for 10,000 bitcoin. Using our block explorer, we can view and explore details about this famous transaction. Pizza Day Transaction Hash: The value of Bitcoin at the time was only about $0.0041, that mean these pizzas only cost $41. Today, Bitcoin is equivalent to about $9,085, which means the 10,000 BTC Hanyecz spent on two pizzas over 10 years ago is now worth more than whopping $90,000,000. In an interview with 60 Minutes, Hanyecz said he enjoys having this crypto honour. Binance verlost 50 Tausend Dollar in einem Bitcoin Pizza Day Gewinnspiel! Nachdem man bereits beim Bitcoin Halving Event 2020 12,5 BTC verlost hat , hat sich Binance zur Feier des Bitcoin Pizza Day 2020 überlegt, einen BTC Pizza Day Event für eine Woche zu starten und insgesamt bis zu 50.000 Dollar in BNB-Token als Give Away an alle Benutzer der Binance Plattform bereitzustellen . The value of Bitcoin at the time was only about $0.0041, that mean these pizzas only cost $41. Today, Bitcoin is equivalent to about $9,085, which means the 10,000 BTC Hanyecz spent on two pizzas over 10 years ago is now worth more than whopping $90,000,000. In an interview with 60 Minutes, Hanyecz said he enjoys having this crypto honour.
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