Real Adoption of Bitcoin

Too much emphasis is always put on accepting bitcoin as payment, legal tenders to show the growth in adoption.

I think this is a completely incorrect way to look at adoption.

In any country, where you have a currency that hasnt completely gone to shit, it will always be better to pay for things using that currency/ credit denominated in that currency. This has the following benefits:

• This makes taxes easier.
• Lets you use technological advancements like apple pay/ upi in india/ and other mobile payments networks.
• Lets you take benefits like purchase protection/ extended warranties/ credit card discounts.

Now Ill say what I think adoption really is. People holding bitcoin for what bitcoin is. Incorruptible, unconfiscatable property. If a person is keeping his long term savings in bitcoin, he is doing much more to further adoption than Gucci accepting bitcoin.

Metrics to measure this kind of adoption would be %population holding bitcoin and average time bitcoin is held. Also market cap moving average is a loose indicator of this.

Some events that would definitely mark an increase in adoption would be: - More countries allowing people to use bitcoin without capital gains taxes. - Apple letting you hold bitcoin in their wallet app. - Bitcoin friendly President in the US. - A G2 nation holding Bitcoin reserves. - Also if gifting bitcoin becomes a thing. People tend to hold on to gifts longer than the things they buy.

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[URGENT] Coinbase Gives Bitcoin Investors Grim Warning During Earnings

Today during $COIN earnings, Coinbase talked about what would happen should they file bankruptcy, and what it would mean for your Bitcoin. I am posting this to remind you all THAT YOU SHOULD NOT KEEP YOUR BITCOIN ON EXCHANGES.

"Moreover, because custodially held crypto assets may be considered to be the property of a bankruptcy estate, in the event of a bankruptcy, the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings... and such customers could be treated as our general unsecured creditors..."

​

Guys, get your crypto off exchanges and into wallets you own.

Screenshot

Cardano Rumor Rundown May 10, 2022

Hey Everyone!

Let's go...

Newly covered today:

1. COTI and Djed have partnered with GADA Launchpad. https://twitter.com/COTInetwork/status/1523620203422437376
2. The winner has authored a thread on how the Artifct Moon Treasure Hunt was solved. https://twitter.com/AshXlandZ/status/1523403686810353666
3. There is a new Africa update with John O’Connor available. https://www.youtube.com/watch?v=X1cKW1RhI2E

Previously Covered but still interesting:

1. Even Greenpeace is now complaining about Bitcoin energy usage. https://twitter.com/GhostchainClub/status/1509907792408326151
2. The UK is setting its sights on becoming a crypto hub. https://www.gov.uk/government/news/government-sets-out-plan-to-make-uk-a-global-cryptoasset-technology-hub https://twitter.com/greyskulledm/status/1511026486798651393
3. It sounds like Wingriders is going to have ADA staking for Liquidity Providers in pools that include ADA in the pair. Apparently the LPs will vote on what pool gets the delegation. https://twitter.com/wingriderscom/status/1511009078620868611
4. Reports are coming in that Coti will launch the Djed testnet this week. https://twitter.com/cotihyp3/status/1510743792864796674
5. The recent Liqwid community call is available. https://twitter.com/liqwidfinance/status/1509938871060115471
6. Caitlin Long thinks the US crypto industry will split into three camps. https://twitter.com/CaitlinLong_/status/1511137195746279440
7. Apparently your ReadyPlayerMe avatar in Pavia will be able to wear Adidas. https://twitter.com/Pavia_io/status/1511408080357101568
8. Activision is considering NFTs for Call of Duty! https://watcher.guru/news/activision-blizzard-might-incorporate-nfts-into-call-of-duty-games
9. The MLabs Cardano TX library being built for Seabug (Mlabs upcoming NFT market) will be open source so that other projects can build on this. https://twitter.com/seabugnft/status/1511445943865917447
10. The Charles/Snoop/Champ Medici/Lena Twitter space is out. Over 64k people tuned in. As unexpected surprises, Warren G (and possibly a silent Busta Rhymes) also popped in. https://twitter.com/IOHK_Charles/status/1511402568420929538
11. MuesliSwap now has limit swaps as part of their DEX aggregation function. https://twitter.com/MuesliSwapTeam/status/1511356152017264642
12. Indigo has unveiled a quiz related to its airdrop qualification criteria. https://twitter.com/Indigo_protocol/status/1511421010666749952
13. Catalyst has launched a new African Incubator along with iceaddis called Ariob. https://twitter.com/InputOutputHK/status/1511691446910427139 https://iohk.io/en/blog/posts/2022/04/05/project-catalyst-launches-incubator-for-africa/
14. There will be an AMA on April 7 with ADA Realm and their new Unity development partner Actum Games. https://twitter.com/AdaRealm/status/1511779464795070469
15. If you don’t think our biggest competitor is broken by fees, check out this report of $26 million spent on gas fees in an offering that only raised $8 million. Someone’s making money, but they’re called miners. https://twitter.com/cr0ssETH/status/1511446814196572161
16. Maladex makes a good point about liquidity in DeFi. https://twitter.com/CardanoMaladex/status/1511811031470952466The future is not going to be 2D. Here is (probably) the first metaverse purchase of a SpaceBudz NFT. https://twitter.com/poly_peer_party/status/1511789839447904266
17. MinSwap and COTI are looking at how best to integrate Djed into Minswap. https://twitter.com/MinswapDEX/status/1512052790625026052
18. Here are some questions answered by Ross, Pavia Community Manager. https://www.youtube.com/watch?v=Zc9A4tREvkI
19. Shocker! Reports of more problems from our most problem ridden competitor.. https://twitter.com/Katsumoto87/status/1512002841501655044
20. If banks are involved with crypto, they now need to notify the FDIC. https://www.fdic.gov/news/financial-institution-letters/2022/fil22016.html
21. MuesliSwap is going through a redesign. https://twitter.com/MuesliSwapTeam/status/1512090675021447169
22. Here’s an excellent thread from Sooraj that explains in very easy-to-understand terms why Cardano’s eUTxO model is superior to ETH’s account balance model. Even Ben Goertzel had to comment on this thread. https://twitter.com/Soorajksaju2/status/1512886236066762762 https://twitter.com/bengoertzel/status/1513177850286813185
23. You might as well follow that up with his earlier threads on a) why UniSwap v.3 hasn’t solved impermanent loss but the answer may lie in Cardano’s eUTxO architecture; and b) why AMMs are inferior to order book DEXs. https://twitter.com/Soorajksaju2/status/1512110589459546120 https://twitter.com/Soorajksaju2/status/1511819727475294211
24. The Agora Governance Module from MLabs, Liqwid, and ADAO is now open source. https://twitter.com/liqwidfinance/status/1512414100273471497
25. Wingriders hints at Ledger compatibility in their DEX. https://twitter.com/wingriderscom/status/1513242395101515778
26. IOHK introduces the Delegate Representatives concept for Catalyst voting. This seems to embrace the idea that the best form of government is “a republic…if you can keep it.” https://iohk.io/en/blog/posts/2022/04/11/introducing-the-concept-of-delegate-representatives-dreps/
27. Curious how to pronounce names in Cardano? Here you go. https://twitter.com/AnthonyCardano/status/1513479117483778048
28. SundaeSwap announces some quality of life improvements for its users. https://twitter.com/SundaeSwap/status/1513605929907933198
29. WingRiders has already announced details on its Yield Farming that it says will be live on day 1. https://medium.com/@wingriderscom/wingriders-yield-farming-will-be-live-from-day-one-of-mainnet-launch-769095f7ef91
30. It’s looking like the Bankless podcast wants to have Charles on and he indicated he would do it. https://twitter.com/IOHK_Charles/status/1513621050940170242
31. WingRiders is live on mainnet and there are stablecoins! https://twitter.com/wingriderscom/status/1513865034115739652 https://twitter.com/wingriderscom/status/1513788413631152130
32. Soon there will be a list of verified Pavia Asset (PCA) creators. https://twitter.com/Pavia_io/status/1513835187343405058
33. The MuesliSwap Milk token is now live on the Milkomeda version of the MuesliSwap DEX. https://twitter.com/MuesliSwapTeam/status/1513921544812126210
34. IOHK wants your input on what should be included in Cardano 360. https://twitter.com/InputOutputHK/status/1513914342642790405
35. It looks like the Chrome Web Store approval of the new version of the Eternl Wallet has fixed the Ledger compatibility issue that recently cropped up. https://twitter.com/eternlwallet/status/1513789563755503619
36. Mainstream media is really pulling out all the stops, now labeling crypto people as study-proven “psychopaths”. https://nypost.com/2022/04/12/bitcoin-fans-are-psychopaths-who-dont-care-about-anyone-study-shows/
37. IOHK gave us a big rundown of all the news from the last ten days (4.12.22). https://twitter.com/InputOutputHK/status/1513951540058411008
38. It turns out that Pavia land parcel ownership is pretty decentralized. https://twitter.com/Pavia_io/status/1514183930605408266
39. The ETH Merge to proof-of-stake is delayed again! No firm date has been established. https://twitter.com/TimBeiko/status/1514010098145759232
40. BlackRock will be the primary asset manager of USDC reserves. It looks like the institutions are fully here in crypto. https://www.coindesk.com/business/2022/04/12/usdc-issuer-circle-raises-400m/
41. Here’s a very good article from IOHK explaining reference inputs and reference scripts that will be implemented at the Vasil hardfork combinator event in June 2022. https://iohk.io/en/blog/posts/2022/04/13/boosting-cardano-s-throughput-with-script-referencing/
42. Here’s a great thread on what happens when you have one-way public pressure on a liquidity pool where one of the assets is an otherwise unavailable wrapped stablecoin. https://twitter.com/Doctor__A__/status/1514230061859319815
43. People are sounding the alarm about two new projects that have launched on Milkomeda. https://twitter.com/NicoArqueros/status/1514603103860903939
44. The Vasil Hardfork Combinator event is scheduled for June 29th and is on track. https://twitter.com/InputOutputHK/status/1514637134040346628
45. The April Mid-Month Update is out and available! https://www.youtube.com/watch?v=B0tojqvMgB0
46. Alessandro (of SpaceBudz, Berry, & Nami) releases Lucid, a Javascript framework to handle Plutus off-chain code. https://twitter.com/berry_ales/status/1514728197438545937
47. Charles offers to help Elon Musk build a decentralized twitter if Elon’s offer to acquire the company and take it private is not successful. https://twitter.com/IOHK_Charles/status/1514707087128997890
48. Robbery Forest Heist Alert: Reports coming in that BeanStalk Farms stablecoin protocol was exploited for something like $80 Million. https://twitter.com/BeanstalkFarms/status/1515700678454390785 https://twitter.com/WatcherGuru/status/1515689590841040899 https://twitter.com/Rightsideonly/status/1515692515286224902
49. The word “Solunavax” is now in Urban Dictionary. https://www.urbandictionary.com/define.php?term=solunavax
50. Our community is so strong, not even Mt. Everest is safe from our reach. https://twitter.com/ArthurPrestidge/status/1515317980942405632
51. The robbers in the Robbery Forest have names. The FBI says North Korea’s Lazarus Group & APT38 hacker teams are behind the Axie Infinity theft. https://gizmodo.com/fbi-says-north-korea-behind-biggest-crypto-theft-in-his-1848797691
52. Very harsh technical and other criticism incoming for Cardano competitor Solana. https://twitter.com/Justin_Bons/status/1514646388688232456
53. Looks like info might come this week about the Cardano Summit NFTs? https://twitter.com/IOHK_Josh/status/1515462695537246208
54. Take note if using an EVM sidechain of Cardano: report of a crazy Metamask vulnerability if you enable iCloud backup of app data on an Apple product. https://twitter.com/Serpent/status/1515545812423839745
55. The wider crypto space is learning that Cardano added 100k wallets in the last month. https://twitter.com/WatcherGuru/status/1516095660424155137
56. The AGIX ERC-20 converter is now live! https://twitter.com/singularity_net/status/1516069469591908361
57. Singularity.net is building a metaverse virtual world (Sophiaverse.ai) where AI characters embodied in humanoid avatars will interact with, teach, and learn from players. This could end up being wildly interesting. https://www.sophiaverse.ai/ https://www.youtube.com/watch?v=Kjh-MXd4xnw
58. Paribus announces it will build an HQ in Pavia. https://twitter.com/paribus_io/status/1512443022801346583
59. Apparently Indigo Step #3 will close out on Apr 19, 2022. https://twitter.com/Indigo_protocol/status/1516072942395928579
60. MuesliSwap Mainnet v.2 is here! Now with partial order matching! https://medium.com/@muesliswap/introducing-muesliswap-v2-the-next-generation-of-cardanos-most-popular-orderbook-dex-6b1fc6af64b1
61. Cardano Ledger App…now with smart contract compatibility. https://twitter.com/Ledger_Support/status/1518927545751773184
62. The dominos are starting to fall. Now the Central African Republic is adopting crypto as legal tender. https://news.yahoo.com/central-african-republic-adopts-bitcoin-104407031.html
63. Binance has recovered a tiny portion of the 600 million USD stolen from the Axie Infinity Ronin Bridge. https://cointelegraph.com/news/binance-recovers-5-8m-in-funds-connected-to-ronin-bridge-exploit
64. Artifct has released info on its Moon metaverse project. https://artifct.app/docs/MoonFlightPlan.pdf
65. Great thread on the trilogues for the new EU crypto AML rules. https://twitter.com/paddi_hansen/status/1519609822823403521
66. The Cardano Summit NFTs are finally here (as of Apr 25 2022). https://blog.terravirtua.io/partnership-news/your-guide-to-cardano-summit-nfts/
67. The April Cardano 360 is ready and waiting for you. https://www.youtube.com/watch?v=b4x5OIy4shU
68. The biggest NFT collection in the world wants to migrate away from ETH after its metaverse land mint cost $177 million in gas fees. https://twitter.com/yugalabs/status/1520612362986078208
69. Shocker! Solana is once again “halted”. https://twitter.com/SolanaStatus/status/1520508697100926977
70. The latest Pavia developer update is out. The builder tool is in development and set for Q2 release. Lots of features and updates revealed including chat features. https://www.youtube.com/watch?v=whnKHNq7f5A
71. There is a new CopiCafe episode from Cornucopias available. Three will be five parcel sizes. The smallest will be roughly the size of an NBA basketball court (16m x24m). https://www.youtube.com/watch?v=HVnzb8IT3lk
72. ADA Realm has released a mockup of their avatar and parcel editor. https://twitter.com/AdaRealm/status/1520493365216919553
73. JPG Store’s new smart contract is open source. They’re offering a $50k bug bounty. https://twitter.com/jpgstoreNFT/status/1520835206659289089
74. The wider crypto space just noticed that Cardano has done over 100k transactions per day for half a month. https://twitter.com/WatcherGuru/status/1521071194786705408
75. We are very early in Cardano. The CEO & Founder of eToro just talked to Charles in person and then tweeted with excitement about a few things including NFTs “coming” to Cardano. https://twitter.com/yoniassia/status/1520954005521715207
76. Genius Yield has revealed their public sale model. https://twitter.com/GeniusyieldO/status/1521215710923563009
77. Charles offers up digital identity (DID) to Elon Musk as a solution he needs for Twitter. https://twitter.com/IOHK_Charles/status/1521152995756363776
78. The Clay Nation metaverse (“Clayverse”) map has been revealed. https://www.claynation.io/clayverse
79. EU Commissioner Mairead McGuinness calls for a joint EU-US led international approach to crypto regulation. https://watcher.guru/news/eu-commissioner-is-calling-for-global-regulators-to-create-a-unified-crypto-regulation
80. The Liqwid AquaFarmers NFT whitelist is now public and ready for you to check your wallet. Use your stake key (instructions in the thread to find your stake key if you don’t know how). https://twitter.com/liqwidfinance/status/1521166352559583237
81. MuesliSwap has gone live with wrapped Bitcoin. https://twitter.com/MuesliSwapTeam/status/1521590290859151360
82. Charles had a great spot on Fox Business. https://twitter.com/IOHK_Charles/status/1521739002214199296
83. Djed is now live on testnet. https://medium.com/cotinetwork/djed-public-testnet-is-live-b0b0b13552e0 https://twitter.com/COTInetwork/status/1521804376725233664
84. The SEC is nearly doubling the number of attorneys it has on crypto enforcement. https://www.cnbc.com/2022/05/03/sec-adds-to-cryptocurrency-regulation-staff.html
85. May 4th was the birthday of Hal Finney who may have been Satoshi.I will try to remember to pour out a little whiskey for him each year until we can bring him back via his cryopreserved remains so that he can reclaim his bitcoin hoard. https://en.wikipedia.org/wiki/Hal_Finney_(computer_scientist)) https://twitter.com/pete_rizzo_/status/1521791809713754113
86. The Federal Reserve has elevated the interest rate by 50 basis points. This half percentage point increase is the largest hike in 22 years (since May 2000) https://www.nytimes.com/2022/05/04/business/economy/fed-rate-decision-inflation.html
87. The Cornucopias land sale will involve a tiered whitelist with tiers for Discord membership and NFT holdings. NFT holders will need to verify their ownership according to the directions provided. https://twitter.com/CornucopiasGame/status/1521916326465392641
88. Pavia will be airdropping PAVs soon and they’ve provided a small FAQ. https://twitter.com/Pavia_io/status/1521851228531134467 https://twitter.com/PaviaRoss/status/1521872255902314496?s=20&t=CferRuF0l936gpQWHcd1rg
89. Gary Vaynerchuk is now telling newbs to buy an NFT on Cardano or Solana because ETH gas fees are too high. https://twitter.com/TangerineADA/status/1521978950649581570
90. Coinbase NFT beta is now open. https://twitter.com/coinbase/status/1521888126934781954
91. Now wrapped ETH is available on muesliswap mainnet. https://twitter.com/MuesliSwapTeam/status/1521917354569048068
92. A very interesting thread on ETH Beacon Chain centralization. https://twitter.com/dagaffer101/status/1523194663473135616
93. There is now a dApp section in Eternl wallet. This is not just a button to connect to dApps. It actually shows you dApps you can use. https://twitter.com/eternlwallet/status/1522639247701942272
94. Tony Rose, IOG Head of Product–Digital Identity, recently testified before the California State Legislature in relation to California students using digital identity. https://mobile.twitter.com/StakeWithPride/status/1523173974456168450 https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202120220SB1190
95. There is obviously still a huge information asymmetry in crypto in relation to Cardano. Even a well known crypto influencer was recently seen aggressively claiming that Cardano had no DEXs when we have: MuesliSwap, SundaeSwap, MinSwap, WingRiders, and others all alive and functioning well. https://mobile.twitter.com/Flat_Mars_Ltd/status/1522400420315815937
96. The Cornucopias podcast, CopiCafe Ep. 6 is now out and available. https://www.youtube.com/watch?v=KuMRgvVDPW8

~Army of Spies