Bitcoin pulse, guides and news: 08/21/21

Saturday, August 21, 2021

Cardano Rumor Rundown August 21, 2021

Hey Everyone!

Let's go...

Newly covered today:

Cardano is still crushing everyone else in terms of dollars staked. https://twitter.com/CryptoDiffer/status/1428368524745973773
The August Cardano 360 will be this Thursday August 26th. https://twitter.com/InputOutputHK/status/1428756331423571972
There is now an Eastern Hemisphere Catalyst Town Hall every Thursday with Korean, Japanese, Vietnamese, and Indonesian language hosts. https://twitter.com/InputOutputHK/status/1428649776111886336

Previously Covered but still interesting:

The Cardano Foundation’s Cardano Developer Portal is now up and running. https://twitter.com/CardanoStiftung/status/1414640913612255234
Prime Minister Abiy Ahmed’s party has won re-election in a landslide election. https://www.bbc.com/news/world-africa-57791868
Avanti Bank of Wyoming files comments with the Federal Reserve on their new guidelines that could massively impact how the traditional banking system interacts with cryptocurrencies like Cardano. Given what role ADA is likely to play in the future of crypto financial transactions, this is extremely relevant for ADA holders. https://avantibank.com/press/avanti-submits-comments-to-federal-reserve https://twitter.com/CaitlinLong_/status/1414783323193364482
Cardano is still destroying everyone in terms of value staked! https://twitter.com/StakingRewards/status/1414895205384327168
The Cardano ecosystem maps keep getting bigger and more complicated. https://poolg.de/Eco/CardanoEcosystemMap.html
In news that could have significant repercussions for many stablecoin reliant Cardano DeFi projects, Fed Chair Jerome Powell gave some hard signals that they will regulate stablecoins in House Committee testimony. He revealed that the Fed will issue its long-awaited paper on stablecoins, CBDCs, and other digital assets in September. Powell also went as far as to say "You wouldn't need stable coins you wouldn't need cryptocurrencies if you had a digital US currency, I think that's one of the stronger arguments in its favor." https://twitter.com/Nate_DiCamillo/status/1415349008034418691
We experienced a successful fork to the Alonzo White testnet! https://twitter.com/InputOutputHK/status/1415399456841863177
The European Central Bank drops news of “a project to prepare for possibly issuing a digital euro.” A digital Euro is coming and regulation of private fiat-pegged stablecoins is coming with it. https://twitter.com/ecb/status/1415273625385644036
IOHK releases a paper on a crypto-backed algorithmic stablecoin. https://twitter.com/IOHK_Charles/status/1415531260470972423
A crypto media personality recently uncovered links between the Priviledge EU Project, Horizon Europe Grant Agreement 780477, and Cardano. https://twitter.com/BreakingADA/status/1415653936703295488
Always the GitHub activity champs! https://twitter.com/ProofofGitHub/status/1416065097794002946
We are now seeing the advent of a so-called “Fair Initial Stakepool Offering”. https://twitter.com/MinswapDEX/status/1416110973690122240
The weekly development update is out. https://roadmap.cardano.org/en/status-updates/update/2021-07-16/
Janet Yellen, Secretary of the Treasury, is calling a meeting of the President’s Working Group on Financial Markets to discuss stablecoins on Monday. Prepare for regulation. https://home.treasury.gov/news/press-releases/jy0276
Coindesk really hates us. Now they are writing articles about Cardano and using words like “crypto-colonialism”. https://www.coindesk.com/the-headache-of-crypto-colonialism
Liqwid says it is on target to be live on day 1 after the Alonzo hardfork combinator event. https://twitter.com/liqwidfinance/status/1416363542975074305
According to maximalists you’re apparently not allowed to be busy with your company authoring papers if you’re in Cardano. https://twitter.com/woonomic/status/1415761569082789890
The IOHK mid-month development update for July is out and available for viewing. https://youtu.be/U9K-8jILGcg
Apparently “unsigned Phalices” are a thing in the Cardano ecosystem now. https://twitter.com/unsigned_algo/status/1416909454100992000
The El Faro article reporting meetings between Cardano, Whizgrid of Cyprus, and the brothers of President Bukele of El Salvador definitely contain some extremely interesting details related to a possible Salvadorean national stablecoin by the end of the year and a possible digitization and blockchain storage of a wide range of government related documents next year. This could be huge!!!!!! https://elfaro.net/en/202107/el_salvador/25611/Bukele-Plans-to-Launch-a-National-Cryptocurrency-This-Year.htm
Treasury Secretary Janet Yellen told regulators in the Presidents Working Group on Financial Markets that they must move quickly to regulate stablecoins. So, a Salvadorean market for stablecoins might be good for Cardano. https://www.reuters.com/technology/yellen-says-us-must-move-quickly-establish-stablecoin-rule-framework-2021-07-19/
Notable news for upcoming Cardano DeFi projects. There may be slightly less competition in the “get a return on your crypto assets” game very soon. The New Jersey AG’s office has delivered a cease and desist letter to BlockFi. The AG’s press release cited BlockFi’s interest bearing deposit accounts as unregistered securities and also mentioned the lack of FDIC or SPIC insurance for it’s depositors. This leaves some lingering questions for Cardano DeFi projects that might be planning to accept deposits or other transfers of value and offering a return of sorts. You could argue that these projects are decentralized where BlockFi was not. But, the AG’s press release seems to cite decentralization as one of the risks of DeFi projects. Also, as a practical matter, there is a question whether decentralization will be a good shield from regulators since many of these projects have companies and real humans with faces and names behind them unlike a truly anonymous founder such as Satoshi Nakamoto. https://www.njoag.gov/new-jersey-bureau-of-securities-orders-cryptocurrency-company-blockfi-to-stop-offering-interest-bearing-accounts/ https://twitter.com/BlockFiZac/status/1417316834244796416
EU is planning to introduce regulations on anonymous crypto wallets. This is a big deal. But, Cardano is probably more prepared than any with its identity solutions that could be used for KYC/AML. https://twitter.com/Wiiinnie/status/1417575921565978628
Cardano didn’t come up in the Cathie Wood, Jack Dorsey, and Elon Musk panel discussion at “The B Word” event. But, given how Elon repeatedly shot down maximalist explanations for the shortcomings of proof-of-work chains in energy consumption and throughput, the whole thing ended up sounding like a long-form pitch for proof-of-stake and Cardano. Seriously, you should check it out. https://www.thebword.org/c/track-2-Bitcoin-As-A-Tool-For-Economic-Empowerment
Gary Gensler, SEC Chair, indicates that crypto assets providing synthetic exposure to securities will be regulated as securities. This should be scary news for any Cardano projects that are aimed at exactly that! https://www.sec.gov/news/speech/gensler-remarks-aba-derivatives-futures-law-committee-virtual-mid-year-program-072121
The mainstream press is suddenly realizing the behavioral economics tools that a central bank with CBDCs could wield. There is definitely a universe where this becomes a very dystopian and jarring introduction to virtual currencies for the mainstream. https://twitter.com/NeerajKA/status/1418168477429424135
Wolfram CEO, John Woodard, drops a guest article with IOHK on NFT liveminting. The article seems to have a good amount of focus on the community building potential of NFTs. I think that could be a big growth area for the future. https://iohk.io/en/blog/posts/2021/07/22/wolfram-and-cardano-build-communities-with-nfts-and-liveminting/
IOHK has released its Conclave paper on collective stakepools. https://eprint.iacr.org/2021/742.pdf
Here’s the IOHK Development Update for July 23! https://twitter.com/InputOutputHK/status/1418635822987943939
Cardano received some coverage in the Motley Fool as an eco-friendly crypto! https://www.fool.com/the-ascent/cryptocurrency/articles/4-eco-friendly-cryptos-you-should-know-about/
Big lesson for future Cardano DeFi projects: Uniswap Labs just had to censor the Uniswap UI to ban synthetics of underlying securities. Bucket shops have been around for 150 years and illegal for 100 years. It turns out that you can’t do it in crypto either. https://twitter.com/Uniswap/status/1418697012095164420 https://twitter.com/haydenzadams/status/1418961999539712006
Check out this new video of the World Mobile Team on the ground in Zanzibar. Doesn’t this feel like a better mission for our ecosystem than DeFi? https://twitter.com/WorldMobileTeam/status/1419051567878221828
Reports are coming in that Amazon plans to integrate Bitcoin, Cardano, ETH, & BCH in the very near future. This has apparently been a work in progress for several years. https://www.cityam.com/amazon-definitely-lining-up-bitcoin-payments-and-token-confirms-insider/
Adam Dean brings us open source code to accept ADA in your Woo Commerce store. https://twitter.com/adamKDean/status/1419495005983371264
Weiss Crypto has very good things to say about Cardano. https://twitter.com/WeissCrypto/status/1419685634566938634
Check out this new bot that tweets every time it discovers a Cardano Giveaway Scam! The tweets show ISP and geolocation info for the scammers. Follow this bot and report the scammers! Brought to us by @nicknikiforakis. Thanks for building this, Nick! https://twitter.com/CardanoPhishing
The regulatory purge of stablecoins is getting into full swing now with Bloomberg running a piece on a DOJ criminal probe of the Tether founders. Of particular note for the Cardano ecosystem is that the first attack surface for regulators is the relationship of the stablecoin with legacy banking institutions. This is something that Cardano ecosystem stablecoin, Djed, may already fix with its own crypto backed reserve system. https://www.bloomberg.com/news/articles/2021-07-26/tether-executives-said-to-face-criminal-probe-into-bank-fraud?srnd=economics-vp
Nami Wallet now allows you to mint NFTs for no extra fees (only Cardano network fees) inside the wallet. https://twitter.com/NamiWallet/status/1420031000017608717
More pressure for Crypto regulation is coming to bear today in the U.S. This time it comes in the form of a letter from Senator Elizabethe Warren to Treasury Secretary Janet Yellen (in her position as Chair of the Financial Stability Oversight Council which brings together 10 different financial regulators including the SEC, CFTC, and the Federal Reserve). The letter was sent after a Senate Banking Committee hearing titled “Cryptocurrencies: What are they good for?” https://www.cnbc.com/2021/07/27/elizabeth-warren-presses-yellen-financial-regulator-to-manage-crypto.html
Stephen Wolfram does the first NFT liveminting event where he creates NFTs of cellular automata from the computational universe while live on stream. The first two created were “Crashing Waves” and “Down Arrows”. https://twitter.com/IOHK_Charles/status/1420087229104283656
A new Cardano NFT Marketplace is now live and receiving a lot of attention. https://twitter.com/CNFT_IO/status/1419655915226152961
Project Catalyst now has 30k members! https://twitter.com/InputOutputHK/status/1420474342253678599
Emurgo has released an article about what we can expect from the Yoroi dApp Connector. https://emurgo.io/blog/emurgo-is-thrilled-to-announce-the-yoroi-dapp-connector
Reports are coming in that the new bipartisan Infrastructure Bill contains new provisions that might require a whole host of actors within crypto ecosystems like Cardano to report transactions over $10k. https://www.coindesk.com/new-infrastructure-bill-looks-to-raise-30b-through-crypto-tax https://www.marketwatch.com/story/crypto-allies-rally-against-ignorant-new-tax-rules-in-bipartisan-infrastructure-deal-11627578844 https://twitter.com/jerrybrito/status/1420724068286926853
But this bill is an even bigger deal. If passed as-is, we can probably say RIP to the Wild West Era of crypto (2009-2021). https://beyer.house.gov/news/documentsingle.aspx?DocumentID=5307
The July Cardano 360 can now be viewed on Youtube. https://youtu.be/AG5DspF9tuA
John O’Connor was on SkyNews discussing the Ethiopian Ministry of Education project! He stressed that this was not a profit center for IOHK, and had a chance to refute the “crypto colonialism” strain of thought. https://vimeo.com/581137605
We are kings of the github commits once again! https://twitter.com/ProofofGitHub/status/1421138529908842502
The differences between the currently dominant smart contract blockchain and Cardano’s upcoming smart contract architecture keep getting highlighted by dramatic failures of the former. https://twitter.com/WeissCrypto/status/1421064543900418048
Don’t forget that registration for the Cardano Summit is live. https://summit.cardano.org
In case you missed the July Cardano 360 and don’t have a lot of time. Here is the always great Cardano 360 Mini! https://twitter.com/InputOutputHK/status/1421803459997835266
Reports are coming in that we’ve got final language from the crypto tax reporting piece of the Infrastructure Bill. It’s better but not great or even good. https://twitter.com/jerrybrito/status/1422002228102107142
The Charles AMAs returned on August 1 after a brief break. https://www.youtube.com/watch?v=yKY6VwVq02s
A quarter million votes were cast in Catalyst Fund 5 voting! Apparently, this is over 10x what we saw in Fund 2. https://twitter.com/danny_cryptofay/status/1422253955816505345
Here’s a very good read on one vision for prosperity via CBDC and how such a currency should interact with existing blockchains like Cardano. https://twitter.com/RealNatashaChe/status/1422270993498705921
Cardano has been listed by Bitpoint in Japan! https://www.bitpoint.co.jp/news/info/info-2021080301/
Senators Wyden and Toomey are trying to fix the crypto provisions in the Infrastructure Bill! https://www.bloomberg.com/news/articles/2021-08-03/crypto-rules-in-infrastructure-bill-eyed-for-bipartisan-rewrite
SEC Chair Gensler gave another speech strongly signaling that a lot of stablecoins, lending platforms, synthetics platforms, and other DeFi projects are probably non-compliant in the eyes of the SEC. I would heed this warning very carefully if I were one of those projects. https://www.sec.gov/news/public-statement/gensler-aspen-security-forum-2021-08-03 https://www.youtube.com/watch?v=tusQLLCgrDs
The Yoroi Wallet is already making improvements in preparation for the dApp Connector release! https://twitter.com/YoroiWallet/status/1422905221793996809
We’re now up to 5 different states that are getting after BlockFi for their crypto lending activities. Reportedly, this includes New Jersey, Vermont, Alabama, Kentucky, & Texas. Probably relevant for those building lending solutions on Cardano. https://www.coindesk.com/blockfi-receives-fifth-cease-and-desist-from-kentucky-financial-regulator
Charles dropped an update to let us know that Light Purple Alonzo will come next week. That will bring in exchange partners. Mid-month there will be an update with official dates given for a primary date and a fallback date for triggering the hardfork combinator event. The fallback date will likely be one epoch (five days later). Part of this depends on how the exchange partners are doing with their integrations. Charles says it looks like late August or the first week of September. There will be a live HFC party where they will deploy “some things” minutes after the HFC. The Plutus Application Backend (PAB) might be integrated on something like September 10th. https://www.youtube.com/watch?v=8y261_eImsE
Cardano’s closest competitor, Ethereum, carries out it’s EIP-1559 London Fork which creates a new transaction fee scheme including some burning of fees and a more predictable base fee with an additional tip option on top. While the long term impact is unclear, the immediate aftermath of the fork seems to be even higher fees. We’ll see if this is just due to high transaction volume at the moment. Of course, part of this is already solved by Cardano’s deterministic fee system enabled by its local state as opposed to the global state in the Ethereum system. https://twitter.com/Birdson64827145/status/1423324771303972867
Senators Toomey, Wyden, & Lummis took to the Senate Floor to plead for a vote on their amendment which would fix the overly broad crypto tax reporting provisions in the Infrastructure Bill. https://twitter.com/jerrybrito/status/1423381402905726983 https://twitter.com/jerrybrito/status/1423413806634577922
The Toomey, Lummis, Wyden Amendment was then challenged by a competing amendment from Senators Warner, Portman, and Sinema which only excluded proof-of-work block validators and sellers of wallets from the tax reporting requirements. This terrible competing amendment was then immediately endorsed by the White House. This is a serious danger to our industry! Please call your Senators and ask them to support the Toomey/Wyden/Lummis Amendment! https://twitter.com/jerrybrito/status/1423429377459736577 https://twitter.com/WardDPatrick/status/1423464991441702912
Charles announces the Alonzo Purple testnet is out! Many new segments of partners and others will be onboarding with availability to any developer soon! https://twitter.com/InputOutputHK/status/1423704788512952331 https://www.youtube.com/watch?v=ZTExHbqVHAM
It turns out that Janet Yellen lobbied lawmakers on Thursday against the Wyden-Toomey-Lummis Amendment according to the Washington Post. https://www.washingtonpost.com/politics/2021/08/06/crypto-bitcoin-infrastructure-senat
Check out this awesome “12 Facts” style article about Alonzo from Sebastien Guillemot form dcSpark. https://medium.com/dcspark/do-you-know-what-is-included-in-cardanos-alonzo-hardfork-changes-96cde16a8305
Senator Warner made not one but two revisions to his amendment to the crypto provisions in the Infrastructure Bill. Both revisions were good for Cardano since they included proof-of-stake implicitly and then explicitly. https://twitter.com/jerrybrito/status/1424040216961114112 https://twitter.com/jerrybrito/status/1424074177770921992
Both Gene Simmons and Ted Cruz came out in support of the competing Wyden-Lummis-Toomey Amendment to the Infrastructure Bill. Gene Simmons has previously revealed his Cardano purchases. https://twitter.com/tedcruz/status/1424097173172637697
After the Senate called it a day on the Infrastructure Bill Amendment debate, it sounded like there might have been some dealmaking going on among Wyden, Portman, Warner, and Toomey. The Senate will be back at it tomorrow at Noon. https://twitter.com/mikedebonis/status/1424143941914566659
No agreement on an amendment to the crypto tax reporting provisions of the Infrastructure Bill materialized today. https://twitter.com/jerrybrito/status/1424543439396429828
Senator Lummis (a co-sponsor of the proposed crypto-friendly Toomey-Lummis-Wyden Amendment) is holding out hope that they may be able to get a vote on amendments tomorrow. https://twitter.com/SenLummis/status/1424556793506635776
Charles is already planning a strategy for dealing with the bill once it’s in the House of Representatives. https://twitter.com/IOHK_Charles/status/1424561446973628421
Very action packed day today (Aug 9). The Toomey-Lummis-Portman-Sinema came together and proposed a compromise amendment to the crypto tax reporting provisions in the Infrastructure Bill. They were not able to include any section for exclusion of developers from the “broker” definition but did cover the previous progress on transaction validators and wallet sellers. https://twitter.com/SenToomey/status/1424777137500864513
Toomey-Lummis-Portman-Sinema sought the required unanimous consent, but their attempt was thwarted by a disagreement over $50 billion in defense spending. https://twitter.com/jerrybrito/status/1424832132204138503
Several co-chairs of the Blockchain Caucus have already written a letter to all the members of the House of Representatives letting them know of the dire need to fix these crypto provisions once the bill hits the House. https://twitter.com/RepTomEmmer/status/1424845416697323522
There’s a new CIP to create an off-chain metadata standard from Matthias Benkort, Michael Peyton Jones, and Polina Vinogradova. https://twitter.com/_KtorZ_/status/1425162918363111425 https://github.com/cardano-foundation/CIPs/pull/112
The Biggest Lobster Trap Harvest ever!!! A hacker decided to harvest over $600 million from the Polynetwork Bridge. We learned this lesson in the 2016 DAO Hack, but it’s really time that people stop giving up custody of their coins. https://twitter.com/ksatyarth2/status/1425140128784084994
Senator Shelby laughably tried to claim he actually supported the crypto amendment in a tweet. The derision from the crypto community flowed like water out of the Amazon. https://twitter.com/SenShelby/status/1425142857199980550
IOHK’s “Essential Cardano” list of projects keeps growing! https://github.com/input-output-hk/essential-cardano/blob/main/essential-cardano-list.md
dcSpark is hiring for a few non-programmer positions. https://twitter.com/dcspark_io/status/1425490454787739649
We got some coverage in Forbes over the Alonzo date reveal. https://twitter.com/ForbesCrypto/status/1425409227594555393
Over $1 million in NFTs has now been sold on cnft.io. https://twitter.com/CNFT_IO/status/1425550638507769859
This graphic pretty much sums up all the Cardano criticism. https://twitter.com/SmaugPool/status/1425403742925565956
Emurgo has published an article about the status of Yoroi as the Metamask of Cardano. https://emurgo.io/blog/yoroi-wallet-what-it-means-to-be-the-metamask-wallet-of-cardano
We’ll get the August mid-Month Development Update today (Aug 13) and we’ll also find out the exact date for Alonzo! https://twitter.com/timbharrison/status/1425791321168568330
Alonzo (smart contracts on mainnet) is scheduled for the 12th of September! https://twitter.com/InputOutputHK/status/1426182060683796483
The Cardano Ecosystem Infographics are still getting bigger and bigger. https://twitter.com/Coin98Analytics/status/1426051817876586499
The rankings looked a little different today! https://twitter.com/RichardMcCrackn/status/1426331710107619328
An insane amount of native assets have been issued on Cardano already. https://twitter.com/matiwinnetou/status/1426692124448333826
We may see treasury guidelines on the tax reporting provisions soon (as of Aug 14). https://www.bloomberg.com/news/articles/2021-08-13/treasury-seeks-to-quell-fears-crypto-tax-rules-are-overly-broad
Senator Lummis is asking for requests if anyone wants to hear about what actually happened with the Senate mayhem. https://twitter.com/CynthiaMLummis/status/1426631432223481860
The maximalists of other projects seem to be really loving us lately. https://twitter.com/Bquittem/status/1426639546616254469 https://twitter.com/novogratz/status/1426757593737879552 https://twitter.com/joebirks/status/1426920500249481220
The Cardano Community breathes a collective sigh of relief that it doesn’t suffer from the incredibly high fees seen on Ethereum recently. https://twitter.com/RichardMcCrackn/status/1427006419463778307
The Cardano treasury is getting unbelievably huge at almost $1 Billion! https://twitter.com/SebastienGllmt/status/1426789664338284546
Looks like 40% of crypto holders in Singapore have Cardano according to the Gemini 2021 Crypto in Singapore report. https://www.gemini.com/state-of-sg-crypto
The Wyoming Blockchain Stampede will be going on at the same time as the Cardano Summit and in the preceding days. If you’re going to Wyoming, you may consider attending both. https://twitter.com/CaitlinLong_/status/1427316556476866561
Apparently a “huge increase in user base” is responsible for the Yoroi downtime. That doesn’t sound all bad! https://twitter.com/YoroiWallet/status/1427283658432417794
The Plutus Mainnet Candidate has been released to the Node Team. https://twitter.com/InputOutputHK/status/1427359174220996612
Weiss Crypto really loves the Cardano consensus protocol. https://twitter.com/WeissCrypto/status/1427646299936014337
Applications are now open to be a local Cardano Meet-Up host for the Cardano Summit 2020. https://twitter.com/Cardano/status/1427309534226300928
Anticipation for Cardano smart contracts keeps growing stronger as more and more ETH users are publicly venting frustration over fees and throwing their support behind Cardano. https://twitter.com/RandCorp_/status/1427473742742052865
CNFT.io is back in action after a brief period of absence! https://twitter.com/CNFT_IO/status/142808300944668262
The Djed Stablecoin paper and an explanatory article are now out. https://twitter.com/InputOutputHK/status/1427933093210607619
In larger nation-state crypto adoption news (an area that is very relevant to Cardano), it looks like the Salvadorean Finance Minister is now saying that Bitcoin acceptance by merchants in El Salvador will actually be optional despite the language in the law. https://www.coindesk.com/el-salvador-bitcoin-not-mandatory-businesses
Various rankings websites are called out for what seems to be an unbelievable number of errors that imply an anti-Cardano bias. https://twitter.com/TheADAApe/status/1428312666569904129
Coinbase is going to invest $500M into crypto and 10% of all profit going forward (probably increasing with time) according to Brian Armstrong. Since Cardano is listed on Coinbase and it’s a good guess they will invest in the coins they list, this is probably very relevant for Cardano. https://twitter.com/brian_armstrong/status/1428489591665856512
If Google translate is correct, it looks like Bitpoint (a Japanese exchange) will begin its listing of ADA on August 25th. https://www.bitpoint.co.jp/news/info/info-2021081801/
It never ends. We are the Perma-Techno-Kings of the Github Commit! https://twitter.com/ProofofGitHub/status/1428748675032010758
It’s looking like the Cardano Summit is going to be huge. https://twitter.com/I_Am_DTaylor/status/1428791321440002054
The Essential Cardano List has grown even larger! https://github.com/input-output-hk/essential-cardano/blob/main/essential-cardano-list.md

~Army of Spies

Crypto Scams

If you lurk on Cryptocurrency subreddits, you will have no doubt seen alot of scams lately. Crypto is a magnet for scammers but in the past year the so called "rug pull" type scams have increased by an order of magnitude. Of course alot of hacks recently as well which somewhat fit in the same pool as rug pull type scams for the purpose of this discussion.

Post a scam/hack event and you lose money. Are you more likely to put your future investments in only bitcoin/ethereum OR are you more likely to leave the crypto space altogether?.

Of course if anyone have been the victim of a hack or rug pull and would like to share the post behaviour and reasoning for it would be interesting also.

Reason for this poll - towards the end of 2017/Jan 18 crypto scams were also on the rise, most famous of which is of course bitconnect.

Similarity extends to the fact most people got in to those scams were due to influence from social media influencers just like today.

View Poll

Crypto update

Sharing what I'm seeing. Welcoming others insight so we all have a clearer picture.

Past couple days ADA reached a new ATH achieving never before seen funding rates of >0.333.... for context if price doesnt move and you short this - you get as much interest in a day here as you would in a year in a bank. Obviously this didn't last long.

ADA with no smart contract and no working product having market cap of almost 80 billion is prob what moved the market up. All in speculation of its future smart contract launch.

SOL number 10 market cap also achieved another ath yesterday.

Despite most altcoins pumping more than BTC, ETH actually pumped less than BTC. Could be "fans of smart contracts" are redistributing to ADA / SOL.

BTC reached a new local high, while ethereum did not. I do like this as it shows people are taking profit at this region.

Overall Price holding this region is not horrible for bears. Most of the crypto price action is built on momentum, the longer price stays at this level the less likely it will pump.

I keep saying it looks like 5/5/18 on the chart right now. Zooming out to the daily. The exponential rise in April on BTC and May on ETH resembles the exponential rise for BTC and ETH in 2017/18. The current rise in price from late July to now resembles a logarithmic growth - i.e its losing momentom and flattening, This does resemble the run up to 5/5/18 as opposed to an exponential growth typically seen prior to an ATH.

Ethereum London Hard fork 2 weeks post event

Saw another user posted average daily ETH produced now (including the burn) is 15,214 vs before was 16,741 .

So around 9% reduction in daily production.

At the current price (in theory) 54 MILLION (16,741x3225) is needed to be feed in to Ethereum EVERY day to keep the price stable before eip 1559. With eip 1559 49 MILLION is still needed EVERY FUCKING day to be put into ethereum to keep the price at 3225.

And dont forget the amount of money that needs to go in to bitcoin daily to keep its price at 49000 ..... 900x49000... another 44.1 million DAILY.

And dont forget every other scammer is producing another coin that also needs to be feed.... you get the idea.

Seems the general community agrees the vast vast majority of people that invests in crypto are dumb money and have no idea what they are doing. What baffles me is most of them accept bitcoin's price is artificially pumped by tether. If you are talking about anything other than crypto... if you have an unregulated entity that just prints 1 billion every other week to pump the price, you'll be an idiot not to sell/short the asset.

Saying the entire crypto market is a bubble is an understatement.

Currently Shorting ETH - > Target = Sub 2k.

Crypto in Sports

u/joshlambonumberfive mentioned to me about a soccer team utilizing crypto for their fans Football(Soccer) team and I thought that was awesome. So here are other random facts and news about Sports and Crypto

NHL Cryptocurrency exchange Crypto.com has signed a sponsorship deal with the Montreal Canadiens of the National Hockey League (NHL). - March 17, 2021
Football/Soccer Everton football partners with Socios.com for fan tokens on blockchain - Aug 3, 2021 (thanks u/joshlambonumberfive !)
Football/Soccer In early 2018, Harunustaspor, a Turkish football club, became the world’s first football team to purchase a player using Bitcoin. The player, Omar Faruk Kiroglu (22 years old), received 0.0524 in Bitcoin (£385) and ₺2,500 (£470) as part of the deal with Harunustaspor
NHL The San Jose Sharks will become the first National Hockey League team to accept cryptocurrency next season - June 24, 2021
Football/Soccer International payment services companies, such as Wirex and Epayments, offered fans the ability to purchase tickets for the FIFA World Cup 2018 in Bitcoin, Litecoin and Ethereum. In addition, Kaliningrad hotel chain Apartments Malina announced that customers were able to book and pay for accommodation using Bitcoin
Formula 1 More recently, in March 2021, Aston Martin Cognizant Formula One became the first Formula One team to partner with a cryptocurrency firm. Crypto.com is a platform with over ten million active users and will no doubt gain greater brand exposure on Aston Martin F1 cars in competitions worldwide
MMA Litecoin became the official cryptocurrency partner of UFC 232 in 2018, sponsoring the Light Heavyweight title fight between Jon Jones and Alexander Gustafsson. The event led to a spike in interest for the coin with Litecoin UFC receiving more than 40 million Twitter impressions to an audience of over 16 million users worldwide
With the aim of promoting its crypto-trading service, eToro partnered with several Premier League teams – paid for entirely with Bitcoin. By September 2020, the platform became one of Europe’s biggest football sponsors of clubs such as Tottenham Hotspur FC, Brighton & Hove Albion FC, Cardiff City FC, Crystal Palace FC, Leicester City FC, Newcastle United FC and Southampton FC. eToro suggests that cryptocurrency can be used to authenticate merchandise, reduce ticket touting and for player transfers

Great information on this Scam

📷MUST READ ...,"POST 8853" !!!It’s not JUST bad PRs or a bad presentation. This CEO ran two scams and then ditched them. A Kenyan condom factory w promised $50MM contracts at ANCE and a cannabis water scam at PJET. How much more do you need?This is why I think it is a scam.More major fraud flags than any company I have ever seen. Accounts receivable growing with no increase in cash - one of the most common fraud flags. Revenues from least 2 years without any payment (and some of the work was COMPLETED at least two years ago or they could not book them according to standard revenue recognition and ALYI’s own policy.). The value of the digital currency Ven remained constant once again despite being a digital currency that fluctuates versus the dollar. Impossible. CEO Randy Torno doesn’t have ALYI on his LinkedIn page just like Alex Wash doesn’t list that he was CEO of LEXG for years on his LinkedIn page. Instead Torno only lists his current work with an international consulting firm and probably (this part is my guess as to why but what other reason would he have to hide what is supposedly his MAIN JOB?) hides his ALYI involvement due to his real job’s strict ethics policy (that is not supposition - they have a huge focus on ethics and compliance). Randy Torno went silent after he promised a large Kenya contract that never happened while at ANCE (sound familiar?). The fact that Randy was the only board member of PJET which had a full time college student as the CEO (again not on his or Yasmine Acebo’s LinkedIn profiled les) while he gave it away for literally nothing and went silent. The fact that he, even for a short period of time, PR’d a potential partnership with LEXG which the least amount of due diligence would have revealed was a fraud prior to issuing these PRs. The first $2.5 of financing supposedly being used to build a conference center is bizarre. That the ICO research was performed by paid for pumper Rob Goldman. Paying for PRs and paid research when they supposedly already have $100MM of funding lined up. Why does it take so long to go from PR to LOI to funds? It’s not like they are re-inventing contract law. How good is the intent of milestones and details are so unresolved? Being run by one part time CEO with no technical skills and one fundraising (no marketing or technical skills) consultant, the misrepresentation of Professor Mitlin’s role in the technology, the hinting that ALYI was partnered w a major company when it turned out that will be, in some way, for a conference not for product, the amount of time required for the US and Africa contracts (yes US contracts are also still promised just not retail) but to come to fruition, the assumption that anyone would invest or order from a company with no financial or engineering resources (despite Randy saying companies needed product immediately in just in time delivery), the fact that they fund via dilution and an ICO scam rather than legitimate venture capital or partnering. The unauthorized use of Steve McQueen and then keeping up unlicensed pictures of Conan O Brien and Johnny Deppy riding aural sand Harleys to make it look like they own something ALYI built and keeping that site up to make it look like they are still planning to sell retail (they are not - that plan made the time window to easily fact check the fraud too soon), and the fact that Randy says ALYI needs “just in time” manufacturing when the alleged buyers are obviously willing to wait years to buy from a company with no workers, no financial resources, and no technology (no patent assets on the balance sheet - they dropped these years ago when the couldn’t afford to pay Air Products the licensing fee - google the patent numbers in their disclosure which they never update including saying Randy is “expected” to get his PhD in 2017). No shareholders agreement, no board for oversight, only one controlling vote holder via preferred shares all to allow unlimited dilution without a vote.Henryk Dabrowski is leading the ICO for ALYI according to today’s P.R.https://ih.advfn.com/stock-market/USOTC/alternet-systems-pk-ALYI/stock-news/82913090/alyi-introduces-100m-revolttoken-ico-to-expand-elAfter having been CEO at ALYI with the stock going nowhere, Henry joined CIAU to lead their cryptocurrency efforts (and notice this beauty in the link below about his accomplishments at at ALYI - thankfully the LEXG partnership didn’t go anywhere since too many people knew LEXG was a scam) “Mr. Dabrowksi Comes To CIAU As ALYI Enters Into Deals With USMJ and LEXG”https://www.google.com/amp/s/markets.businessinsider.com/amp/news/Ciao-Group-Names-Henryk-Dabrowski-from-Alternet-Systems-to-Lead-Cryptocurrency-Initiative-to-Include-Bitcoin-and-Blockchain-Solutions-1002070478While at CIAU they announced an ICO “backed by stocks of a $530B African Market Capitilization” (sound familiar?)https://www.otcmarkets.com/stock/CIAU/news/Ciao-Group-Announces-Investment-Token-Backed-By-530-Billion-African-Financial-Market?id=166976Then the SEC temporarily suspended CIAU for the ICO"" rel="nofollow noopener noreferrer ugc" target="_blank">https://corpgov.law.harvard.edu/2017/10/30/sec-enforcement-against-initial-coin-offering/"; rel="nofollow noopener noreferrer ugc">https://www.google.com/amp/s/www.crowdfundinsider.com/2017/08/120619-sec-suspends-trading-ciao-group-advance-ico/amp/ https://corpgov.law.harvard.edu/2017/10/30/sec-enforcement-against-initial-coin-offering/But after the suspension, plans for the ICO were cancelled, management never issued more disclosure or filings and CIAU remains skull and crossboneshttps://www.otcmarkets.com/stock/CIAU/overviewThe chart looked so good up until the ICO fizzled!See the last five years - ICO was pitched in 2017.https://finance.yahoo.com/quote/ciau/What could possibly make someone think this is real? The fact that a two time scammer CEO says so?NEWS FLASH THE PR WE WERE ALL WAITING FOR WAS ANOTHER FLOP an EXCERPT FROM MY FAVORITE PART,The design of the ReVolt Electric Motorcycle and the exact nature of the anchor event are under wraps at this time, but news on both will be coming soon.LOL ,LOL,LOL......,BUT OF COURSE OR SHALL I SAY PAR FOR THE COURSE REMEMBER THESE ARE THE SAME BIKES PROMISED FOR THE HOLIDAY SEASON OF 2018!!!DOES ANYONE KNOW WHAT HAPPENED TO THESE BIKES .....,THEY SEEM TO BE M.I.A.

WARNING THIS COMPANY HAS AN HISTORY OF NOT FOLLOWING THROUGH ON P.R.'s THEY ISSUE ,NO BIKES EVER SHOWED UP FOR THE HOLIDAY SEASON OF 2018, NO BIKES EVER SHOWED UP TO TEXAS IN 2019,WHERE'S THE SHORT VIDEO....,WHAT'S WORSE IS WHILE PLENTY OF P.R.'s CONTINUE TO BE ISSUED THERE'S NO EXPLANATION OF WHAT HAPPENED TO THE HOLIDAY SEASON BIKES OR THE TEXAS ORDER

https://investorshub.advfn.com/Alterne https://investorshub.advfn.com/Alternet-Systems-Inc-ALYI-1679/-Systems-Inc-ALYI-1679/

The Crypto Daily – Movers and Shakers – August 21st, 2021

Bitcoin, BTC to USD, rallied by 5.48% on Friday. Following a 4.57% gain on Thursday, Bitcoin ended the day at $49,330.5.

A mixed morning saw Bitcoin fall to an early morning intraday low $46,647.0 before finding support.

Steering clear of the of the first major support level at $44,818, Bitcoin rallied to a late intraday high $49,400.

Bitcoin broke through the first major resistance level at $47,887 and the second major resistance level at $49,008.

A late pullback, however, saw briefly Bitcoin fall back through the second major resistance level before ending the day at sub-$49,300 levels.

The near-term bullish trend remained intact, supported by the latest return to $49,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Friday.

Bitcoin Cash SV (+7.60%) and Crypto.com Coin rallied by 7.60% and by 7.44% respectively to lead the way.

Binance Coin (+5.51%) and Chainlink (+6.05%) also found strong support.

Cardano’s ADA (+0.58%), Ethereum (+3.21%), Litecoin (+4.61%), Polkadot (+0.47%), and Ripple’s XRP (+2.39%) trailed the front runners, however.

In the current week, the crypto total market fell to a Wednesday low $1,832bn before rising to a Friday high $2,110bn. At the time of writing, the total market cap stood at $2,068bn.

Bitcoin’s dominance fell to a Tuesday low 43.67% before rising to a Wednesday high 45.35%. At the time of writing, Bitcoin’s dominance stood at 44.67%.

This Morning

At the time of writing, Bitcoin was down by 0.35% to $49,157.8. A mixed start to the day saw Bitcoin rise to an early morning high $49,374.0 before falling to a low $49,157.8.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a bearish start to the day.

At the time of writing, Ripple’s XRP was down by 0.92% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $48,459 pivot to bring the first major resistance level at $50,271 and the 23.6% FIB of $50,473 into play.

Support from the broader market would be needed for Bitcoin to break out from Friday’s high $49,400.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at the 23.6% FIB would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $53,000 levels before any pullback. The second major resistance level sits at $51,212.

A fall through the $48,459 pivot would bring the first major support level at $47,518 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$46,000 levels. The second major support level sits $45,706.

Cardano Rumor Rundown August 21, 2021

Hey Everyone!

Let's go...

Newly covered today:

It never ends. We are the Perma-Techno-Kings of the Github Commit! https://twitter.com/ProofofGitHub/status/1428748675032010758
It’s looking like the Cardano Summit is going to be huge. https://twitter.com/I_Am_DTaylor/status/1428791321440002054
The Essential Cardano List has grown even larger! https://github.com/input-output-hk/essential-cardano/blob/main/essential-cardano-list.md

Previously Covered but still interesting:

The Cardano Foundation’s Cardano Developer Portal is now up and running. https://twitter.com/CardanoStiftung/status/1414640913612255234
Prime Minister Abiy Ahmed’s party has won re-election in a landslide election. https://www.bbc.com/news/world-africa-57791868
Avanti Bank of Wyoming files comments with the Federal Reserve on their new guidelines that could massively impact how the traditional banking system interacts with cryptocurrencies like Cardano. Given what role ADA is likely to play in the future of crypto financial transactions, this is extremely relevant for ADA holders. https://avantibank.com/press/avanti-submits-comments-to-federal-reserve https://twitter.com/CaitlinLong_/status/1414783323193364482
Cardano is still destroying everyone in terms of value staked! https://twitter.com/StakingRewards/status/1414895205384327168
The Cardano ecosystem maps keep getting bigger and more complicated. https://poolg.de/Eco/CardanoEcosystemMap.html
In news that could have significant repercussions for many stablecoin reliant Cardano DeFi projects, Fed Chair Jerome Powell gave some hard signals that they will regulate stablecoins in House Committee testimony. He revealed that the Fed will issue its long-awaited paper on stablecoins, CBDCs, and other digital assets in September. Powell also went as far as to say "You wouldn't need stable coins you wouldn't need cryptocurrencies if you had a digital US currency, I think that's one of the stronger arguments in its favor." https://twitter.com/Nate_DiCamillo/status/1415349008034418691
We experienced a successful fork to the Alonzo White testnet! https://twitter.com/InputOutputHK/status/1415399456841863177
The European Central Bank drops news of “a project to prepare for possibly issuing a digital euro.” A digital Euro is coming and regulation of private fiat-pegged stablecoins is coming with it. https://twitter.com/ecb/status/1415273625385644036
IOHK releases a paper on a crypto-backed algorithmic stablecoin. https://twitter.com/IOHK_Charles/status/1415531260470972423
A crypto media personality recently uncovered links between the Priviledge EU Project, Horizon Europe Grant Agreement 780477, and Cardano. https://twitter.com/BreakingADA/status/1415653936703295488
Always the GitHub activity champs! https://twitter.com/ProofofGitHub/status/1416065097794002946
We are now seeing the advent of a so-called “Fair Initial Stakepool Offering”. https://twitter.com/MinswapDEX/status/1416110973690122240
The weekly development update is out. https://roadmap.cardano.org/en/status-updates/update/2021-07-16/
Janet Yellen, Secretary of the Treasury, is calling a meeting of the President’s Working Group on Financial Markets to discuss stablecoins on Monday. Prepare for regulation. https://home.treasury.gov/news/press-releases/jy0276
Coindesk really hates us. Now they are writing articles about Cardano and using words like “crypto-colonialism”. https://www.coindesk.com/the-headache-of-crypto-colonialism
Liqwid says it is on target to be live on day 1 after the Alonzo hardfork combinator event. https://twitter.com/liqwidfinance/status/1416363542975074305
According to maximalists you’re apparently not allowed to be busy with your company authoring papers if you’re in Cardano. https://twitter.com/woonomic/status/1415761569082789890
The IOHK mid-month development update for July is out and available for viewing. https://youtu.be/U9K-8jILGcg
Apparently “unsigned Phalices” are a thing in the Cardano ecosystem now. https://twitter.com/unsigned_algo/status/1416909454100992000
The El Faro article reporting meetings between Cardano, Whizgrid of Cyprus, and the brothers of President Bukele of El Salvador definitely contain some extremely interesting details related to a possible Salvadorean national stablecoin by the end of the year and a possible digitization and blockchain storage of a wide range of government related documents next year. This could be huge!!!!!! https://elfaro.net/en/202107/el_salvador/25611/Bukele-Plans-to-Launch-a-National-Cryptocurrency-This-Year.htm
Treasury Secretary Janet Yellen told regulators in the Presidents Working Group on Financial Markets that they must move quickly to regulate stablecoins. So, a Salvadorean market for stablecoins might be good for Cardano. https://www.reuters.com/technology/yellen-says-us-must-move-quickly-establish-stablecoin-rule-framework-2021-07-19/
Notable news for upcoming Cardano DeFi projects. There may be slightly less competition in the “get a return on your crypto assets” game very soon. The New Jersey AG’s office has delivered a cease and desist letter to BlockFi. The AG’s press release cited BlockFi’s interest bearing deposit accounts as unregistered securities and also mentioned the lack of FDIC or SPIC insurance for it’s depositors. This leaves some lingering questions for Cardano DeFi projects that might be planning to accept deposits or other transfers of value and offering a return of sorts. You could argue that these projects are decentralized where BlockFi was not. But, the AG’s press release seems to cite decentralization as one of the risks of DeFi projects. Also, as a practical matter, there is a question whether decentralization will be a good shield from regulators since many of these projects have companies and real humans with faces and names behind them unlike a truly anonymous founder such as Satoshi Nakamoto. https://www.njoag.gov/new-jersey-bureau-of-securities-orders-cryptocurrency-company-blockfi-to-stop-offering-interest-bearing-accounts/ https://twitter.com/BlockFiZac/status/1417316834244796416
EU is planning to introduce regulations on anonymous crypto wallets. This is a big deal. But, Cardano is probably more prepared than any with its identity solutions that could be used for KYC/AML. https://twitter.com/Wiiinnie/status/1417575921565978628
Cardano didn’t come up in the Cathie Wood, Jack Dorsey, and Elon Musk panel discussion at “The B Word” event. But, given how Elon repeatedly shot down maximalist explanations for the shortcomings of proof-of-work chains in energy consumption and throughput, the whole thing ended up sounding like a long-form pitch for proof-of-stake and Cardano. Seriously, you should check it out. https://www.thebword.org/c/track-2-Bitcoin-As-A-Tool-For-Economic-Empowerment
Gary Gensler, SEC Chair, indicates that crypto assets providing synthetic exposure to securities will be regulated as securities. This should be scary news for any Cardano projects that are aimed at exactly that! https://www.sec.gov/news/speech/gensler-remarks-aba-derivatives-futures-law-committee-virtual-mid-year-program-072121
The mainstream press is suddenly realizing the behavioral economics tools that a central bank with CBDCs could wield. There is definitely a universe where this becomes a very dystopian and jarring introduction to virtual currencies for the mainstream. https://twitter.com/NeerajKA/status/1418168477429424135
Wolfram CEO, John Woodard, drops a guest article with IOHK on NFT liveminting. The article seems to have a good amount of focus on the community building potential of NFTs. I think that could be a big growth area for the future. https://iohk.io/en/blog/posts/2021/07/22/wolfram-and-cardano-build-communities-with-nfts-and-liveminting/
IOHK has released its Conclave paper on collective stakepools. https://eprint.iacr.org/2021/742.pdf
Here’s the IOHK Development Update for July 23! https://twitter.com/InputOutputHK/status/1418635822987943939
Cardano received some coverage in the Motley Fool as an eco-friendly crypto! https://www.fool.com/the-ascent/cryptocurrency/articles/4-eco-friendly-cryptos-you-should-know-about/
Big lesson for future Cardano DeFi projects: Uniswap Labs just had to censor the Uniswap UI to ban synthetics of underlying securities. Bucket shops have been around for 150 years and illegal for 100 years. It turns out that you can’t do it in crypto either. https://twitter.com/Uniswap/status/1418697012095164420 https://twitter.com/haydenzadams/status/1418961999539712006
Check out this new video of the World Mobile Team on the ground in Zanzibar. Doesn’t this feel like a better mission for our ecosystem than DeFi? https://twitter.com/WorldMobileTeam/status/1419051567878221828
Reports are coming in that Amazon plans to integrate Bitcoin, Cardano, ETH, & BCH in the very near future. This has apparently been a work in progress for several years. https://www.cityam.com/amazon-definitely-lining-up-bitcoin-payments-and-token-confirms-insider/
Adam Dean brings us open source code to accept ADA in your Woo Commerce store. https://twitter.com/adamKDean/status/1419495005983371264
Weiss Crypto has very good things to say about Cardano. https://twitter.com/WeissCrypto/status/1419685634566938634
Check out this new bot that tweets every time it discovers a Cardano Giveaway Scam! The tweets show ISP and geolocation info for the scammers. Follow this bot and report the scammers! Brought to us by @nicknikiforakis. Thanks for building this, Nick! https://twitter.com/CardanoPhishing
The regulatory purge of stablecoins is getting into full swing now with Bloomberg running a piece on a DOJ criminal probe of the Tether founders. Of particular note for the Cardano ecosystem is that the first attack surface for regulators is the relationship of the stablecoin with legacy banking institutions. This is something that Cardano ecosystem stablecoin, Djed, may already fix with its own crypto backed reserve system. https://www.bloomberg.com/news/articles/2021-07-26/tether-executives-said-to-face-criminal-probe-into-bank-fraud?srnd=economics-vp
Nami Wallet now allows you to mint NFTs for no extra fees (only Cardano network fees) inside the wallet. https://twitter.com/NamiWallet/status/1420031000017608717
More pressure for Crypto regulation is coming to bear today in the U.S. This time it comes in the form of a letter from Senator Elizabethe Warren to Treasury Secretary Janet Yellen (in her position as Chair of the Financial Stability Oversight Council which brings together 10 different financial regulators including the SEC, CFTC, and the Federal Reserve). The letter was sent after a Senate Banking Committee hearing titled “Cryptocurrencies: What are they good for?” https://www.cnbc.com/2021/07/27/elizabeth-warren-presses-yellen-financial-regulator-to-manage-crypto.html
Stephen Wolfram does the first NFT liveminting event where he creates NFTs of cellular automata from the computational universe while live on stream. The first two created were “Crashing Waves” and “Down Arrows”. https://twitter.com/IOHK_Charles/status/1420087229104283656
A new Cardano NFT Marketplace is now live and receiving a lot of attention. https://twitter.com/CNFT_IO/status/1419655915226152961
Project Catalyst now has 30k members! https://twitter.com/InputOutputHK/status/1420474342253678599
Emurgo has released an article about what we can expect from the Yoroi dApp Connector. https://emurgo.io/blog/emurgo-is-thrilled-to-announce-the-yoroi-dapp-connector
Reports are coming in that the new bipartisan Infrastructure Bill contains new provisions that might require a whole host of actors within crypto ecosystems like Cardano to report transactions over $10k. https://www.coindesk.com/new-infrastructure-bill-looks-to-raise-30b-through-crypto-tax https://www.marketwatch.com/story/crypto-allies-rally-against-ignorant-new-tax-rules-in-bipartisan-infrastructure-deal-11627578844 https://twitter.com/jerrybrito/status/1420724068286926853
But this bill is an even bigger deal. If passed as-is, we can probably say RIP to the Wild West Era of crypto (2009-2021). https://beyer.house.gov/news/documentsingle.aspx?DocumentID=5307
The July Cardano 360 can now be viewed on Youtube. https://youtu.be/AG5DspF9tuA
John O’Connor was on SkyNews discussing the Ethiopian Ministry of Education project! He stressed that this was not a profit center for IOHK, and had a chance to refute the “crypto colonialism” strain of thought. https://vimeo.com/581137605
We are kings of the github commits once again! https://twitter.com/ProofofGitHub/status/1421138529908842502
The differences between the currently dominant smart contract blockchain and Cardano’s upcoming smart contract architecture keep getting highlighted by dramatic failures of the former. https://twitter.com/WeissCrypto/status/1421064543900418048
Don’t forget that registration for the Cardano Summit is live. https://summit.cardano.org
In case you missed the July Cardano 360 and don’t have a lot of time. Here is the always great Cardano 360 Mini! https://twitter.com/InputOutputHK/status/1421803459997835266
Reports are coming in that we’ve got final language from the crypto tax reporting piece of the Infrastructure Bill. It’s better but not great or even good. https://twitter.com/jerrybrito/status/1422002228102107142
The Charles AMAs returned on August 1 after a brief break. https://www.youtube.com/watch?v=yKY6VwVq02s
A quarter million votes were cast in Catalyst Fund 5 voting! Apparently, this is over 10x what we saw in Fund 2. https://twitter.com/danny_cryptofay/status/1422253955816505345
Here’s a very good read on one vision for prosperity via CBDC and how such a currency should interact with existing blockchains like Cardano. https://twitter.com/RealNatashaChe/status/1422270993498705921
Cardano has been listed by Bitpoint in Japan! https://www.bitpoint.co.jp/news/info/info-2021080301/
Senators Wyden and Toomey are trying to fix the crypto provisions in the Infrastructure Bill! https://www.bloomberg.com/news/articles/2021-08-03/crypto-rules-in-infrastructure-bill-eyed-for-bipartisan-rewrite
SEC Chair Gensler gave another speech strongly signaling that a lot of stablecoins, lending platforms, synthetics platforms, and other DeFi projects are probably non-compliant in the eyes of the SEC. I would heed this warning very carefully if I were one of those projects. https://www.sec.gov/news/public-statement/gensler-aspen-security-forum-2021-08-03 https://www.youtube.com/watch?v=tusQLLCgrDs
The Yoroi Wallet is already making improvements in preparation for the dApp Connector release! https://twitter.com/YoroiWallet/status/1422905221793996809
We’re now up to 5 different states that are getting after BlockFi for their crypto lending activities. Reportedly, this includes New Jersey, Vermont, Alabama, Kentucky, & Texas. Probably relevant for those building lending solutions on Cardano. https://www.coindesk.com/blockfi-receives-fifth-cease-and-desist-from-kentucky-financial-regulator
Charles dropped an update to let us know that Light Purple Alonzo will come next week. That will bring in exchange partners. Mid-month there will be an update with official dates given for a primary date and a fallback date for triggering the hardfork combinator event. The fallback date will likely be one epoch (five days later). Part of this depends on how the exchange partners are doing with their integrations. Charles says it looks like late August or the first week of September. There will be a live HFC party where they will deploy “some things” minutes after the HFC. The Plutus Application Backend (PAB) might be integrated on something like September 10th. https://www.youtube.com/watch?v=8y261_eImsE
Cardano’s closest competitor, Ethereum, carries out it’s EIP-1559 London Fork which creates a new transaction fee scheme including some burning of fees and a more predictable base fee with an additional tip option on top. While the long term impact is unclear, the immediate aftermath of the fork seems to be even higher fees. We’ll see if this is just due to high transaction volume at the moment. Of course, part of this is already solved by Cardano’s deterministic fee system enabled by its local state as opposed to the global state in the Ethereum system. https://twitter.com/Birdson64827145/status/1423324771303972867
Senators Toomey, Wyden, & Lummis took to the Senate Floor to plead for a vote on their amendment which would fix the overly broad crypto tax reporting provisions in the Infrastructure Bill. https://twitter.com/jerrybrito/status/1423381402905726983 https://twitter.com/jerrybrito/status/1423413806634577922
The Toomey, Lummis, Wyden Amendment was then challenged by a competing amendment from Senators Warner, Portman, and Sinema which only excluded proof-of-work block validators and sellers of wallets from the tax reporting requirements. This terrible competing amendment was then immediately endorsed by the White House. This is a serious danger to our industry! Please call your Senators and ask them to support the Toomey/Wyden/Lummis Amendment! https://twitter.com/jerrybrito/status/1423429377459736577 https://twitter.com/WardDPatrick/status/1423464991441702912
Charles announces the Alonzo Purple testnet is out! Many new segments of partners and others will be onboarding with availability to any developer soon! https://twitter.com/InputOutputHK/status/1423704788512952331 https://www.youtube.com/watch?v=ZTExHbqVHAM
It turns out that Janet Yellen lobbied lawmakers on Thursday against the Wyden-Toomey-Lummis Amendment according to the Washington Post. https://www.washingtonpost.com/politics/2021/08/06/crypto-bitcoin-infrastructure-senat
Check out this awesome “12 Facts” style article about Alonzo from Sebastien Guillemot form dcSpark. https://medium.com/dcspark/do-you-know-what-is-included-in-cardanos-alonzo-hardfork-changes-96cde16a8305
Senator Warner made not one but two revisions to his amendment to the crypto provisions in the Infrastructure Bill. Both revisions were good for Cardano since they included proof-of-stake implicitly and then explicitly. https://twitter.com/jerrybrito/status/1424040216961114112 https://twitter.com/jerrybrito/status/1424074177770921992
Both Gene Simmons and Ted Cruz came out in support of the competing Wyden-Lummis-Toomey Amendment to the Infrastructure Bill. Gene Simmons has previously revealed his Cardano purchases. https://twitter.com/tedcruz/status/1424097173172637697
After the Senate called it a day on the Infrastructure Bill Amendment debate, it sounded like there might have been some dealmaking going on among Wyden, Portman, Warner, and Toomey. The Senate will be back at it tomorrow at Noon. https://twitter.com/mikedebonis/status/1424143941914566659
No agreement on an amendment to the crypto tax reporting provisions of the Infrastructure Bill materialized today. https://twitter.com/jerrybrito/status/1424543439396429828
Senator Lummis (a co-sponsor of the proposed crypto-friendly Toomey-Lummis-Wyden Amendment) is holding out hope that they may be able to get a vote on amendments tomorrow. https://twitter.com/SenLummis/status/1424556793506635776
Charles is already planning a strategy for dealing with the bill once it’s in the House of Representatives. https://twitter.com/IOHK_Charles/status/1424561446973628421
Very action packed day today (Aug 9). The Toomey-Lummis-Portman-Sinema came together and proposed a compromise amendment to the crypto tax reporting provisions in the Infrastructure Bill. They were not able to include any section for exclusion of developers from the “broker” definition but did cover the previous progress on transaction validators and wallet sellers. https://twitter.com/SenToomey/status/1424777137500864513
Toomey-Lummis-Portman-Sinema sought the required unanimous consent, but their attempt was thwarted by a disagreement over $50 billion in defense spending. https://twitter.com/jerrybrito/status/1424832132204138503
Several co-chairs of the Blockchain Caucus have already written a letter to all the members of the House of Representatives letting them know of the dire need to fix these crypto provisions once the bill hits the House. https://twitter.com/RepTomEmmer/status/1424845416697323522
There’s a new CIP to create an off-chain metadata standard from Matthias Benkort, Michael Peyton Jones, and Polina Vinogradova. https://twitter.com/_KtorZ_/status/1425162918363111425 https://github.com/cardano-foundation/CIPs/pull/112
The Biggest Lobster Trap Harvest ever!!! A hacker decided to harvest over $600 million from the Polynetwork Bridge. We learned this lesson in the 2016 DAO Hack, but it’s really time that people stop giving up custody of their coins. https://twitter.com/ksatyarth2/status/1425140128784084994
Senator Shelby laughably tried to claim he actually supported the crypto amendment in a tweet. The derision from the crypto community flowed like water out of the Amazon. https://twitter.com/SenShelby/status/1425142857199980550
IOHK’s “Essential Cardano” list of projects keeps growing! https://github.com/input-output-hk/essential-cardano/blob/main/essential-cardano-list.md
dcSpark is hiring for a few non-programmer positions. https://twitter.com/dcspark_io/status/1425490454787739649
We got some coverage in Forbes over the Alonzo date reveal. https://twitter.com/ForbesCrypto/status/1425409227594555393
Over $1 million in NFTs has now been sold on cnft.io. https://twitter.com/CNFT_IO/status/1425550638507769859
This graphic pretty much sums up all the Cardano criticism. https://twitter.com/SmaugPool/status/1425403742925565956
Emurgo has published an article about the status of Yoroi as the Metamask of Cardano. https://emurgo.io/blog/yoroi-wallet-what-it-means-to-be-the-metamask-wallet-of-cardano
We’ll get the August mid-Month Development Update today (Aug 13) and we’ll also find out the exact date for Alonzo! https://twitter.com/timbharrison/status/1425791321168568330
Alonzo (smart contracts on mainnet) is scheduled for the 12th of September! https://twitter.com/InputOutputHK/status/1426182060683796483
The Cardano Ecosystem Infographics are still getting bigger and bigger. https://twitter.com/Coin98Analytics/status/1426051817876586499
The rankings looked a little different today! https://twitter.com/RichardMcCrackn/status/1426331710107619328
An insane amount of native assets have been issued on Cardano already. https://twitter.com/matiwinnetou/status/1426692124448333826
We may see treasury guidelines on the tax reporting provisions soon (as of Aug 14). https://www.bloomberg.com/news/articles/2021-08-13/treasury-seeks-to-quell-fears-crypto-tax-rules-are-overly-broad
Senator Lummis is asking for requests if anyone wants to hear about what actually happened with the Senate mayhem. https://twitter.com/CynthiaMLummis/status/1426631432223481860
The maximalists of other projects seem to be really loving us lately. https://twitter.com/Bquittem/status/1426639546616254469 https://twitter.com/novogratz/status/1426757593737879552 https://twitter.com/joebirks/status/1426920500249481220
The Cardano Community breathes a collective sigh of relief that it doesn’t suffer from the incredibly high fees seen on Ethereum recently. https://twitter.com/RichardMcCrackn/status/1427006419463778307
The Cardano treasury is getting unbelievably huge at almost $1 Billion! https://twitter.com/SebastienGllmt/status/1426789664338284546
Looks like 40% of crypto holders in Singapore have Cardano according to the Gemini 2021 Crypto in Singapore report. https://www.gemini.com/state-of-sg-crypto
The Wyoming Blockchain Stampede will be going on at the same time as the Cardano Summit and in the preceding days. If you’re going to Wyoming, you may consider attending both. https://twitter.com/CaitlinLong_/status/1427316556476866561
Apparently a “huge increase in user base” is responsible for the Yoroi downtime. That doesn’t sound all bad! https://twitter.com/YoroiWallet/status/1427283658432417794
The Plutus Mainnet Candidate has been released to the Node Team. https://twitter.com/InputOutputHK/status/1427359174220996612
Weiss Crypto really loves the Cardano consensus protocol. https://twitter.com/WeissCrypto/status/1427646299936014337
Applications are now open to be a local Cardano Meet-Up host for the Cardano Summit 2020. https://twitter.com/Cardano/status/1427309534226300928
Anticipation for Cardano smart contracts keeps growing stronger as more and more ETH users are publicly venting frustration over fees and throwing their support behind Cardano. https://twitter.com/RandCorp_/status/1427473742742052865
CNFT.io is back in action after a brief period of absence! https://twitter.com/CNFT_IO/status/142808300944668262
The Djed Stablecoin paper and an explanatory article are now out. https://twitter.com/InputOutputHK/status/1427933093210607619
In larger nation-state crypto adoption news (an area that is very relevant to Cardano), it looks like the Salvadorean Finance Minister is now saying that Bitcoin acceptance by merchants in El Salvador will actually be optional despite the language in the law. https://www.coindesk.com/el-salvador-bitcoin-not-mandatory-businesses
Various rankings websites are called out for what seems to be an unbelievable number of errors that imply an anti-Cardano bias. https://twitter.com/TheADAApe/status/1428312666569904129
Coinbase is going to invest $500M into crypto and 10% of all profit going forward (probably increasing with time) according to Brian Armstrong. Since Cardano is listed on Coinbase and it’s a good guess they will invest in the coins they list, this is probably very relevant for Cardano. https://twitter.com/brian_armstrong/status/1428489591665856512
If Google translate is correct, it looks like Bitpoint (a Japanese exchange) will begin its listing of ADA on August 25th. https://www.bitpoint.co.jp/news/info/info-2021081801/

~Army of Spies

Mephistopheles is not my name, but I know how he thinks.......

The Trigger

Stocks collapse - a CONTROLLED demolition by the Fed - they are 100% in control - plunge protection team, rate raises, YC control, buys of index funds, margin requirement changes, short selling restrictions (or not), jawboning, changing of accounting rules (mk to mkt a la 2009), all sorts of levers.

The Fear

Over the span of the controlled demolition, billions upon billions, likely trillions GLOBALLY move out of stocks and into MMKT's or other 'stable' value securities - note - the (connected) INSTITUTIONAL and HEDGIE paper has ALREADY LEFT (see The Trap below). The primary participants in the 'demolition' will be JQ public, day trader, retail investor, robinhooder, 401k holder.

The Trap Set

Keep in mind the Fed's Reverse Repo facility now has a standard operating procedure and recently at over 1Trillion - All this liquidity leaving stock markets will eventually find their way to The Fed - Note how uncommon it is to find a non-Gov't securitized MMKT fund (by design since coralling of commercial paper after 2009). Remember, the RRP facility is said to 'stabilize' MMKT's in the event of a crisis. Remember too that mutual fund families can use assets in some funds to plug crisis holes in other funds at will - and even funds outside of those families. These policies are sold to the public as 'protective' measures.

The Announcement

At a particular moment at the depths of the stock market bear and civil unrest (pehaps resulting from the jab), TPTB determine that there is sufficient LIQUIDITY (fiat) corralled at the Fed (via the Rev Repo facility) to roll out a policy which states - YOUR FUNDS WILL BE ACCESSIBLE TO YOU IN THE FORM of (wait for it) a CBDC (perhaps a FedCoin debit card, SwissCoin, EUCoin, YenCoin, RooCoin etc. or perhaps a credit of such in your trading/bank account etc.) If you want to utilize your 'money', you must adopt the new system - oh and it's still worth a "dollar" or whatever local currency - or maybe just a bit more relative to physical paper (GREAT!), but it's 100% digital and issued by a single collective entity - possibly globally backed by an SDR, which might in turn be backed by ?gold?, but issued locally in the 'coins' above (no more 'little' bank middle man - all designated major world banks will adopt the SDR again possibly partially backed by gold - or at least stated that way), as their primary exchange medium - The 'coins' are traceable and 100% programmable. A great day to roll out this new policy might be .... say..... the evening of December 23, 2021.

The Elimination of Competition

As a limited time offer - citizens will be offered $105 units of FedCoin when they turn in their paper $100 bills. This policy persists until 100 bills are gone, then 50 and eventually all private 'paper' has disappeared. Similarly, Bitcoin (or you-name-it crypto), can be exchanged for a premium of X.XXX over current mkt value. Again, for a limited time, then at a critical moment, when mass adoption hits a pre-determined point, they will dispense with the carrot and whip out the stick - make illegal or criminalize use of non-Fed coin transactions. Minority holdouts will be SOL!

The Brave New World

And voila, there you have it a new crisp digital 'coin' you can earn with the sweat of your brow and spend at your heart's content (a lie). No one (had to) die and everyone thanked our dear leaders for saving them from utter ruin.

_______________________________________________

Any other thoughts on how CBDC's might be rolled out and accepted by the public are very welcome.

[Sat, Aug 21 2021] TL;DR — Crypto news you missed in the last 24 hours on Reddit

r/Bitcoin

C4mMan

BOOM!