Bitcoin pulse, guides and news: 06/05/21

I don't want to be the person who says this bull run is 'different' in any way. All prices go up and it'll come down. We just don't know when and how exactly things will play out. But looks like the situation has progressed far than we anticipated.

TESLA bought BTC
TESLA accepted and rejected BTC payment
Elon's constant troll on Twitter
Bitcoin in Miami that feels like BITCONNNECT meet up
Anonymous threatened Elon after his constant shit posting on Twitter about BTC
Don't forget about the biggest crash BTC ever had back in May
Alt season seems to be canceled for now

I don't hold BTC, you can blame me. But it feels so weird seeing things developing in daily basis now. And I ask myself, will ADA get back to 0.02 again?

This question also applies to all coins I'm holding. What do you think and how you adjust your startegy now with these events in mind?

FTX Fund is a blockchain platform under FTX Finance LTD

FTX Fund is a blockchain platform under FTX Finance

Money related history shows that, for dependably or decade, the procedures for exchanging item or associations have bit by bit changed outstandingly. From the hour of shells and mussels to trade things, by then to utilize pearls and coins to exchange, in the twentieth century, humanity went to paper cash, near the start of the 21st century was a strategy of filtration cards and power bills. passing is thought of. Weave of the second decade of this century saw the effect of square chain and online part App, introducing a magnificent period in the Fintech cash related headway industry.

2020 was every year different records were addressed the main consideration. Stablecoins offered in excess of various events the progression rate. It went from a capitalization of 5 billion USD to in excess of 25 billion USD. Merchants reliably take a gander at stablecoin improvement to expect Bitcoin's bull run. Regardless, this approach is less exact, for what it's worth at present conceivable to purchase progressed sorts of money with fiat from a record, a Visa, or PayPal. From 2021 to 2023, we can expect something else in corrals. They will be utilized for exchanging similarly as become a productive device to lessen the expense of cross-line settlements (which is still at 7%). This is an unfathomably useful and underutilized market for stablecoins. Doubtlessly the worth of the market in the going with 5 years is overviewed to be at 920 billion USD. Stablecoins will be the going with gigantic model in cutting edge kinds of money.

Probably the best model in the crypto space from 2021-2023 could be DeFi projects. DeFi tends to Decentralized record, and it powers associations like crediting, getting, helper things, yield creating, protection, standard assets, and exchanging protections through a decentralized, open-source affiliation. DeFi will pass on an irritated to the whole cash related framework

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The 2021 Bitcoin Conference, Billed As The Biggest Crypto Event Ever Closes in Miami – NBC 6 South Florida

https://cointuta.com/the-2021-bitcoin-conference-billed-as-the-biggest-crypto-event-ever-closes-in-miami-nbc-6-south-florida/?feed_id=135157&_unique_id=60bc39c66c60e

The Largest Event in Crypto History: Bitcoin Miami 2021 — The Finale | Blockchained.news Crypto News LIVE Media

https://www.blockchained.news/2021/06/the-largest-event-in-crypto-history.html

How are we supposed to use crypto as a currency right now. I mean seriously.

I've seen plenty of posts in this sub saying crypto is really only an investment. Like this one here.

If crypto is only seen as an investment, and there is no care to its ability to be a currency, I begin to ask myself, whats the point of it? To add more market for Wall Street to play around with? Or to be a... Currency. Yeah no that isn't the goal, at least not anymore it seems.

Like come on, you have two options for your average joe to buy ya a little bit of crypo: Exchanges and ATMs

Exchanges

Okay so we got all of your personal information in a centralized database and we could probably be held responsible for identity theft in a future "unlikely event" our data is leaked, thats a check you're now verified!

Anyhoo lets buy some coin! Cool you bought yourself some BTC with that little debit card of yours, hey it is quick! You like being able to spend your money quickly do ya!

Heres your coin. What? You wanted to withdrawal it for a quick purchase at the Cafe? Oh sorry we hold your coin for &lt;7/14/30/90&gt; days before it can be spent. Its for your safety.

Who even spends their crypto, the coin isn't literal silly. Its an investment! Thats what the world need right? MORE FUCKING INVESTMENT OPTIONS!

Just do what every crypto family is doing nowadays, buy the funds for your purchases, like food, maybe a shirt, a week ahead of time!

ATMs

You either give me 10% or we're done. What this, you think its worse than regular ATMs and is not convenient at all? Bitcoin has already fluctuating to the point where your purchase is no longer viable? Sorry pal this is the future, get fucked and eat shit.

/s Yes there are coins out there with a stronger basis on their ability to be spent, including less fluctuations and lower fees. But that doesn't change the absolute hassle Exchanges are nowadays for making a quick purchase.

e: Corrections

What A Day: Egg On Facebook by Sarah Lazarus, Brian Beutler & Crooked Media (06/04/21)

"I don't know if we'll ever see eye to eye on that day." - Mike Pence, on the man who sent a mob to murder him

Good News And Manch News

The good news is that all the pent-up post-pandemic demand in the country is starting to translate into rapid labor-market and wage growth. The bad news is that this is the only good news on the horizon.

The economy added an estimated 559,000 jobs in May, according to the Department of Labor’s monthly employment report, bringing the unemployment rate down from 6.1 to 5.8 percent. That’s about double what in normal economic times we’d call good jobs numbers, and juuust about where we want to be to recreate the millions of jobs the economy lost during the Trump administration. It’s also up from the revised 278,000 jobs the economy added in April, which means if we’re experiencing a trend in growth (not a safe assumption!) then the economy will be roaring through the summer.
Under the hood, there are more good signs. Over the last two months, wages grew at a nominal annual rate of 7.4 percent, many times the rate at which they were projected to grow. According to former Council of Economic Advisers chair Jason Furman, this is the fastest private-sector wage growth in recorded history, though he cautioned that if inflation also climbed (we don’t know if it did yet) it would nibble away at those higher wages.
President Biden touted the figures at a press event in Rehoboth, DE. He contrasted them with the dreadful situation he inherited from President Trump, and attributed them to his administration’s success controlling COVID-19 and implementing the American Rescue Plan. But he noted that progress could falter unless Congress passes his jobs and families plan. “Now is the time to build on the foundation we’ve laid,” he said. “Because while progress is undeniable it is not assured.”

Unfortunately for Biden and the rest of us, there’s a houseboat captain who says he’d prefer a stalled economic recovery and an authoritarian takeover, and all the misery that would entail, to a prosperous future that makes Senate Republicans sad.

In a rare dry-land interview, Sen. Joe Manchin (D-S.S. MINNOW) told NBC’s Garrett Haake, “right now, basically we need to be bipartisan,” effectively empowering Republicans to wreck the Biden presidency, and added that doing anything to stop the state-level GOP assault on democracy would be a “disaster waiting to happen.” Remember folks, the only thing worse than the end of democracy is doing anything at all to defend it.
Meanwhile that onslaught keeps slaughting. On Friday, Disgraced former president Donald Trump demanded that Pennsylvania Republicans conduct a disinformation stunt with ballots and voting machines along the lines of the one still underway in Arizona, implicitly threatening to campaign against Republicans who concede that he lost the 2020 election. And now we all wait on tenterhooks to see how explicitly he tries to incite further insurrection when he addresses the North Carolina GOP tomorrow night.

A robust economic recovery is nothing to sneeze at. Democrats should proudly claim credit for it if we get one, and it would go a long way toward helping them hold on to Congress next year. But it probably won’t be enough if they do nothing to stop the antidemocratic headwinds blowing in all of our faces, and right now that seems to be the plan.

Look No Further Than Crooked Media

This week on ALL CAPS NBA: Mina Kimes, “the Spike Lee of the Brooklyn Nets,” joins the show to explain why it's not worth it to become a Knicks fan. Jason Concepcion reacts to the New York’s playoff exit, with conclusive words for Julius Randle, Tom Thibodeau & Derrick Rose. Miss J Alexander of America’s Next Top Model critiques the sheik of Foul Bae (NBA referee David Guthrie) who is working the camera unlike any of his contemporaries. All that and more on an all-new ALL CAPS NBA → youtube.com/takelineshow

Under The Radar

Facebook said on Friday that it will keep Donald Trump’s suspension in place for two years, after Facebook’s ~~Court of Deflected Responsibility~~ Oversight Board ruled that the ban couldn’t be indefinite. Trump will regain his posting privileges just in time for the next election only “if the risk to public safety has receded,” based on unspecified but surely foolproof metrics. Facebook laid out a new policy of time-bound suspensions for public figures who violate content rules during times of civil unrest, with Trump’s two-year suspension representing the harshest punishment. The company will also no longer automatically exempt public figures from its hate-speech rules, and when it makes exceptions (lol), it will disclose them publicly. Facebook did not commit to complying with the Oversight Board’s other recommendation that it publish a full accounting of its own role in fomenting an insurrection, and will instead launch a partnership with outside academic researchers. In response to the announcement, Trump has disinvited Mark Zuckerberg from all future White House dinners.

What Else?

CDC Director Rochelle Walensky sounded the alarm about a new study that found increased hospitalization rates of teenage coronavirus patients in March and April, and urged parents to vaccinate their teens.

Former White House counsel Don McGahn testified before the House Judiciary Committee about Donald Trump’s efforts to obstruct the Russia investigation, in a closed-door session that only took a two-year court battle and a new presidential administration for House Democrats to arrange.

The Justice Department plans to start treating ransomware attacks like terrorism, so get ready to throw out any liquids larger than 3.4 oz before you do any coding. The Biden administration is also considering offensive cyber operations against hackers in Russia.

Texas GOP Chair Allen West abruptly resigned on Friday, setting up a potential gubernatorial run and apparently leaving the state GOP in shambles. You hate to see it.

This is a useful (and horrifying) rundown of the flood of far-right, culture-war legislation that GOP-controlled states have been aggressively pursuing, and the combination of fear and redistricting-induced-confidence that’s driving it.

At least one-tenth of the world's giant sequoia trees were wiped out in a single California wildfire last year, according to a new report by scientists with the National Park Service.

U.S. intelligence officials have found no evidence that the UFOs spotted by Navy pilots belong to aliens, but also couldn’t rule it out, according to a new report. Aliens it is.

Magawa, a celebrated hero rat who sniffed out 71 landmines in Cambodia, will retire at the end of June. Your move, Stephen Breyer.

Be Smarter

A bizarre new far-right digital platform geared towards Latinos launched quietly one week before Election Day 2020, and has been rapidly building an audience. El American, which strives to be “Fox News meets The Daily Wire for Latinos” and says its mission is to “save America from the barbarians,” publishes bilingual right-wing content that’s frequently focused on hyping up Gov. Ron DeSantis (R-FL). The founders have set a goal to reach seven-million monthly site visitors within a year, and may very well be on track to meet it. Given the proven success of similar garbage on Facebook, and Republicans’ aggressive efforts to win over Latino voters with fear-mongering and disinformation, seems like something to keep an eye on!

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Light At The End Of The Email

At least a dozen states have vaccinated 70 percent of their adult populations.

New Jersey lawmakers have approved a bill that bars landlords from asking about past convictions on housing applications.

Connecticut is poised to become the first state to make prison phone calls free.

The FDA has agreed to conduct a review of its restrictions on mifepristone, a medication used for early abortion and miscarriage care.

Enjoy

raina on Twitter: "I moved into a new apartment but there’s no wifi and no couch yet so I’m gonna stand in the middle of the room like a sim for a few days"

Bitcoin to Become Legal Tender in El Salvador, President Says at Cryptocurrency Event

https://www.newsweek.com/bitcoin-become-legal-tender-el-salvador-president-says-cryptocurrency-event-1597920

Bitcoin conference is a bearish event

https://cointuta.com/forums/topic/bitcoin-conference-is-a-bearish-event/?feed_id=134266&_unique_id=60bc147a15066

El Salvador wants to adopt Bitcoin as legal tender.

El Salvador is looking to introduce legislation that will make it the world’s first sovereign nation to adopt bitcoin as legal tender, alongside the U.S. dollar.

In a video broadcast to Bitcoin 2021, a multiday conference in Miami being billed as the biggest bitcoin event in history, President Nayib Bukele announced El Salvador’s partnership with digital wallet company, Strike, to build the country’s modern financial infrastructure using bitcoin technology.

“Next week I will send to congress a bill that will make bitcoin a legal tender,” said Bukele.

Source: https://www.cnbc.com/2021/06/05/el-salvador-becomes-the-first-country-to-adopt-bitcoin-as-legal-tender-.html

----

What do you guys think about this? 🤔

Bitcoin to Become Legal Tender in El Salvador, President Says at Cryptocurrency Event

https://www.newsweek.com/bitcoin-become-legal-tender-el-salvador-president-says-cryptocurrency-event-1597920

Legalize It - El Salvador becomes the world’s first country to adopt bitcoin as legal tender

This is the best tl;dr I could make, original reduced by 50%. (I'm a bot)

MIAMI - El Salvador is looking to introduce legislation that will make it the world's first sovereign nation to adopt bitcoin as legal tender, alongside the U.S. dollar.

In a video broadcast to Bitcoin 2021, a multiday conference in Miami being billed as the biggest bitcoin event in history, President Nayib Bukele announced El Salvador's partnership with digital wallet company, Strike, to build the country's modern financial infrastructure using bitcoin technology.

"What's transformative here is that bitcoin is both the greatest reserve asset ever created and a superior monetary network. Holding bitcoin provides a way to protect developing economies from potential shocks of fiat currency inflation," continued Mallers.

While details are still forthcoming about how the rollout will work, CNBC is told that El Salvador has assembled a team of bitcoin leaders to help build a new financial ecosystem with bitcoin as the base layer.

"We're pleased to help El Salvador on its journey towards adoption of the Bitcoin Standard," he said.

This isn't El Salvador's first move into bitcoin.

Summary Source | FAQ | Feedback | Top keywords: bitcoin^#1 Salvador^#2 world^#3 first^#4 help^#5

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El Salvador looks to become the world’s first country to adopt bitcoin as legal tender

https://www.cnbc.com/2021/06/05/el-salvador-becomes-the-first-country-to-adopt-bitcoin-as-legal-tender-.html

El Salvador is looking to introduce legislation that will make it the world’s first sovereign nation to adopt bitcoin as legal tender, alongside the U.S. dollar.

In a video broadcast to Bitcoin 2021, a multiday conference in Miami being billed as the biggest bitcoin event in history, President Nayib Bukele announced El Salvador’s partnership with digital wallet company, Strike, to build the country’s modern financial infrastructure using bitcoin technology.

Strike founder and CEO Jack Mallers said this will go down as the “shot heard ’round the world for bitcoin.”

Floyd Mayweather Gets Booed at Bitcoin Event for Saying 'Another Crypto Will Be Just as Big as BTC'

https://news.bitcoin.com/floyd-mayweather-gets-booed-at-bitcoin-event-for-saying-another-crypto-will-be-just-as-big-as-btc/

Crashing Bitcoin event yesterday !! Representing DOGECOIN to the moon 🚀🍿😂

https://v.redd.it/6x7zgd97fi371

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A new decade rising: 2021 has brought crypto to unparalleled heights

There is no need to fear: The cryptocurrency market in 2021 is much different than the market of 2017.

Challenges stimulate progress. Technology, pretty much like life itself, cannot be static. Only dynamics stimulate positive changes. Amid the collapse of the cryptocurrency market in mid-May, many retail and institutional investors began to lose faith in the bright future of cryptocurrencies in general and Bitcoin (BTC) in particular. Corporations and institutions, whales, and early adopters converged in a single impulse — the internet was overwhelmed by a wave of mistrust towards “cryptocurrency number one” as the best defensive asset, superior to gold and everything else that had been invented prior.

One needs to see the full picture here to realize what’s happening. The last time the market suffered more or less comparable and significant losses was a year ago, in March 2020. This year, the panic sell-offs caused by a series of negative events — Elon Musk’s Twitter crusade against BTC, the rumoured court case against Binance and the latest crackdown on crypto from the Chinese government — bring to mind the tremendous collapse of digital assets at the peak of many asset rates in December 2017 and the succeeding “crypto winter”.

However, many people who have little understanding of how the cryptocurrency market functions do not realize the depth of changes that the space has been through in recent years. Emotions are the worst enemy of an investor or trader in a rapidly growing digital asset ecosystem. It is worthwhile to look dispassionately at the facts and analyze the changes to understand the true value of ecosystems growing on the fertile soil of the blockchain.

The wind of change

The investment mindset has changed in recent years. Even though it continues to be dominated by a highly speculative component, there is also a practical application for the settlement. Investors switched from short-term speculations to the long game. The number of Bitcoin ATMs has doubled since 2020. This dramatic rise clearly demonstrates a growing demand for the world's largest crypto assets. From a niche, the cryptocurrency industry has evolved into a multi-billion dollar industry.

Stablecoins — tokens pegged to their corresponding fiat asset such as the U.S. dollar, euro, etc. — have gained significant weight in 2020-2021. With the emergence of new platforms known as decentralized finance, or DeFi, protocols, opportunities appeared to offer profit without risks of the principal asset, for example. Such platforms are nothing more than distributed programs that provide clearing, custody and settlement services. Every year they take a larger piece of the pie from traditional financial institutions. The surge in activity in the environment of decentralized trading platforms also occurred because they do not have the same common vulnerabilities as centralized trading platforms in their infrastructure.

Decentralized exchanges outperform centralized exchanges in terms of trading volume, demonstrating a thousandfold growth in trading volumes in the last year alone. Interfaces for interacting with DeFi can be created by any programmer anywhere globally, and the essence of this interaction is the development of a financial ecosystem running on the global blockchain. By now, DeFi's market capitalization has reached over $100 billion, and this trend will undoubtedly continue soon.

‘Largest Bitcoin event in history’ Bitcoin 2021 kicks off in Miami

A big event about BITCOIN in 2021 has been taking place in the context of the very hot BITCOIN market. Celebrities, customers and residents are flocking to the event. Let's discuss how it will change.

Bitcoin bulls give 'conservative' 10-year estimate for hyperbitcoinization to hit

A decade to hyperbitcoinization is "most likely," says Kraken executive Dan Held, a forecast echoed by Unchained Capital's Parker Lewis.

https://preview.redd.it/j6gl9hblme371.png?width=701&format=png&auto=webp&s=5175a42a67d75409147ed3d4c1ba02b24f57ebd0

Bitcoin (BTC) may be just 10 years away from seeing mass adoption in an event known as "hyperbitcoinization."

That's according to participants of the Bitcoin 2021 conference in Miami, who on June 4 delivered surprisingly optimistic verdicts on when hyperbitcoinization will come.

Bitcoin could be unit of account by 2031

Speaking on a panel, The Bitcoin Standard author Saifedean Ammous, Unchained Capital head of business development Parker Lewis and Kraken growth lead Dan Held all gave their deadlines for when Bitcoin will effectively take over global finance.

"I'd say a decade," Lewis began.

"I think that based on how Bitcoin has been adopted historically and based on the trillions of dollars that the Fed is going to have to print in the coming months to years, that it would potentially be conservative to say that Bitcoin's a unit of account in 10 years."

That would involve the Bitcoin network onboarding billions of new users by 2031, but as the panel noted, the rate of adoption since 2011 has already produced hundreds of millions of Bitcoiners.

"I'm going to be a little more conservative than Parker and say maybe 15 years to 16 years — you know, four more halving cycles," Ammous continued.

His perspective is similar to that of PlanB, creator of the stock-to-flow Bitcoin price models, who previously estimated that after several halving cycles, it will become impossible to measure Bitcoin's price in dollars. This is because as a currency with no bottom, the potential for Bitcoin to grow in U.S. dollar terms is infinite.

Hyperbitcoinization by 2026 is "unlikely" but possible

"I would say at least a decade for hyperbitcoinization would be the most likely and actually conservative estimate," Held concluded.

"If we do have an event where there's rapid devaluation of fiat currency, Bitcoin starts to surge or gets close to $1 million per Bitcoin — a supercycle-esque moment — then we could see it much sooner, maybe five to six years or so. But that would be a very unlikely outcome. I think it could happen, but it's not likely to happen."

As Cointelegraph reported, the stock-to-flow model predicts an average BTC/USD price of either $100,000 or $288,000 this halving cycle, depending on which type of model is used.

So far, PlanB has remained unfazed by the recent rout that took over 50% of Bitcoin's value off its latest all-time highs of $64,500.