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Cardano Rumor Rundown August 13, 2021

Hey Everyone!

Let's go...

Newly covered today:

  1. This graphic pretty much sums up all the Cardano criticism. https://twitter.com/SmaugPool/status/1425403742925565956
  2. 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
  3. 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

Previously Covered but still interesting:

  1. People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake...the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself. https://twitter.com/Madror7/status/1408505144984051716 https://twitter.com/JamesSpediacci/status/1407761823143645189 https://twitter.com/MeiTrades/status/1408117430656905219 https://sharedstake.medium.com/the-sharedstake-story-by-kairos-44d37aa7837a
  2. Here’s another great Cardano data site. This one is from the Cardano Fans stakepool. https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/r2LQC
  3. John O’Connor of IOHK points out that France still controls the monetary policy of 14 countries in Africa. There is definitely a built in market on the continent for a project that delivers monetary sovereignty to the people. https://twitter.com/jjtoconnor/status/1408978882129272832
  4. Here’s a great new interview with the CEO of World Mobile from Cardano Chats. https://youtu.be/w0Z2RP6a9HE
  5. New article from the Cardano Foundation on Governance. https://forum.cardano.org/t/blockchain-governance-what-it-is-and-why-it-matters/65493
  6. Sebastien explains some Alonzo HFC event changes. https://twitter.com/SebastienGllmt/status/1409485560012414978
  7. IOG Research update from Prof. Aggelos Kiayias. Really interesting bit right at the beginning on the history of cryptography as a field of study. https://www.youtube.com/watch?v=7UAL_6f7PFw
  8. Sebastien of dcSpark submits a Cardano Improvement Proposal to allow wallets to implement collateral. https://twitter.com/SebastienGllmt/status/1409910858117877763
  9. Coti update from Shahaf Bar-Geffen. https://twitter.com/COTInetwork/status/1410644013863124992
  10. The Mithril paper (allows for trustless light wallets) is now available for your reading pleasure. https://iohk.io/en/research/library/papers/mithrilstake-based-threshold-multisignatures/
  11. The Ouroboros Chronos paper (allows for the blockchain to be its own timekeeper) is also now available. https://iohk.io/en/research/library/papers/ouroboros-chronospermissionless-clock-synchronization-via-proof-of-stake/
  12. Cardano is now a small part of Grayscale’s Digital Large Cap Fund. They actually sold off current holdings in other coins to buy ADA. This is big for institutional adoption! https://twitter.com/Grayscale/status/1410945118228692994
  13. Catalyst Fund 4 results are here. https://adapulse.io/fund-4-results-are-here/
  14. Robert Kornacki of dcSpark releases an article on why every Cardano dApp will use NFTs. The article contains some very interesting discussion on smart contracts in the EUTXO context including language instructing that “UTXOs have smart contracts attached to them and not the other way around” and “[...]the simplest way to think about it is that when a UTXO is created it has the option to have a smart contract attached to it.” https://medium.com/dcspark/every-eutxo-dapp-will-use-nfts-and-heres-why-fd87e6a8c9a6
  15. A very interesting medium article on the concurrency problem in eUTxO blockchains such as Cardano. (Article by Occam Fi....thanks to Muggy Pool for sending it my way). https://medium.com/occam-finance/the-occam-fi-technical-series-on-concurrency-cd5bee0b850c
  16. The concurrency issue in plutus smart contracts has also been recently commented on by Lars and Sebastien. https://twitter.com/LarsBrunjes/status/1390331642103877633 https://twitter.com/LarsBrunjes/status/1403761666383306757 https://twitter.com/SebastienGllmt/status/1410983827481108480
  17. The Cardano Foundation has released a video on its short and long-term strategies to get to one billion users by 2026. https://twitter.com/CardanoStiftung/status/1412137365318127626
  18. Ben O’Hanlon sets the record straight on developer interest in Cardano. https://twitter.com/benohanlon/status/1412136150404370432
  19. As always, Cardano is straight killing the competition in terms of assets staked. https://twitter.com/StakingRewards/status/1412389781003194395
  20. Between Cohort 1 and Cohort 2 of the Plutus Pioneers program there have been 4,300 potential future Cardano developers involved. https://twitter.com/InputOutputHK/status/1412465643245424649
  21. Here’s an interesting chart purporting to show the dates on which various Cardano DeFi projects might have finished products. https://twitter.com/Cryptokev84/status/1412343821757730820/photo/2
  22. Cardano Gainz Calculator now has a graph showing 10 year growth. https://twitter.com/lesquive1/status/1413249312465866757
  23. Emurgo has released a guide on how to register for Catalyst voting with your Ledger Hardware Wallet. https://github.com/Emurgo/yoroi-mobile/blob/develop/catalyst5-instruction.md
  24. Great new interview with World Mobile’s Mickey Watkins, Charles, and John O’Connor. https://youtu.be/WSSpI8Rtif0
  25. This infographic shows just how big the Cardano DeFi space is getting. https://twitter.com/BPE_Crypto/status/1413973912396963840
  26. This infographic shows just how much DeFi volume is out there for Cardano to steal. https://twitter.com/Coin98Analytics/status/1413514041029394439/photo/1
  27. There is a new stakepool explorer available. https://www.cardanoworld.io/
  28. Very interesting timing with a) Grayscale Buying $50MM ETCG, b) Grayscale adding ADA, and c) Charles joining the ETC Cooperative board given that two of the members of the ETC Cooperative board seem to come from Grayscale and DCG. Maybe the world is starting to understand just what Charles and IOHK have been able to accomplish over the last few years. https://twitter.com/ETCCooperative/status/1410439775950082051 https://twitter.com/ETCCooperative/status/1413328106568421377 https://twitter.com/Grayscale/status/1410945118228692994
  29. There is currently a lawsuit challenging the notion that staking rewards should be taxed as income. The plaintiff argues that newly created property isn’t taxed as income and that this should also apply to staking rewards. A win here would be very nice for Cardano delegators. https://cointelegraph.com/news/crypto-staking-rewards-and-their-unfair-taxation-in-the-us
  30. The Cardano Foundation’s Cardano Developer Portal is now up and running. https://twitter.com/CardanoStiftung/status/1414640913612255234
  31. Prime Minister Abiy Ahmed’s party has won re-election in a landslide election. https://www.bbc.com/news/world-africa-57791868
  32. 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
  33. Cardano is still destroying everyone in terms of value staked! https://twitter.com/StakingRewards/status/1414895205384327168
  34. The Cardano ecosystem maps keep getting bigger and more complicated. https://poolg.de/Eco/CardanoEcosystemMap.html
  35. 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-awated 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
  36. We experienced a successful fork to the Alonzo White testnet! https://twitter.com/InputOutputHK/status/1415399456841863177
  37. Very serious accusations are laid out against the Meld project. https://twitter.com/Bobme808/status/1415283648438358016
  38. 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
  39. IOHK releases a paper on a crypto-backed algorithmic stablecoin. https://twitter.com/IOHK_Charles/status/1415531260470972423
  40. 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
  41. Always the GitHub activity champs! https://twitter.com/ProofofGitHub/status/1416065097794002946
  42. We are now seeing the advent of a so-called “Fair Initial Stakepool Offering”. https://twitter.com/MinswapDEX/status/1416110973690122240
  43. The weekly development update is out. https://roadmap.cardano.org/en/status-updates/update/2021-07-16/
  44. 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
  45. 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
  46. Liqwid says it is on target to be live on day 1 after the Alonzo hardfork combinator event. https://twitter.com/liqwidfinance/status/1416363542975074305
  47. 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
  48. The IOHK mid-month development update for July is out and available for viewing. https://youtu.be/U9K-8jILGcg
  49. Apparently “unsigned Phalices” are a thing in the Cardano ecosystem now. https://twitter.com/unsigned_algo/status/1416909454100992000
  50. 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
  51. 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/
  52. 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
  53. 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
  54. 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
  55. 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
  56. 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
  57. 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/
  58. IOHK has released its Conclave paper on collective stakepools. https://eprint.iacr.org/2021/742.pdf
  59. Here’s the IOHK Development Update for July 23! https://twitter.com/InputOutputHK/status/1418635822987943939
  60. 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/
  61. 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
  62. 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
  63. 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/
  64. Adam Dean brings us open source code to accept ADA in your Woo Commerce store. https://twitter.com/adamKDean/status/1419495005983371264
  65. Weiss Crypto has very good things to say about Cardano. https://twitter.com/WeissCrypto/status/1419685634566938634
  66. 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
  67. 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
  68. 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
  69. 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
  70. 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
  71. A new Cardano NFT Marketplace is now live and receiving a lot of attention. https://twitter.com/CNFT_IO/status/1419655915226152961
  72. Project Catalyst now has 30k members! https://twitter.com/InputOutputHK/status/1420474342253678599
  73. 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
  74. 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
  75. 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
  76. The July Cardano 360 can now be viewed on Youtube. https://youtu.be/AG5DspF9tuA
  77. 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
  78. We are kings of the github commits once again! https://twitter.com/ProofofGitHub/status/1421138529908842502
  79. 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
  80. Don’t forget that registration for the Cardano Summit is live. https://summit.cardano.org
  81. 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
  82. 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
  83. The Charles AMAs returned on August 1 after a brief break. https://www.youtube.com/watch?v=yKY6VwVq02s
  84. 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
  85. 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
  86. Cardano has been listed by Bitpoint in Japan! https://www.bitpoint.co.jp/news/info/info-2021080301/
  87. 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
  88. 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
  89. The Yoroi Wallet is already making improvements in preparation for the dApp Connector release! https://twitter.com/YoroiWallet/status/1422905221793996809
  90. 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
  91. 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
  92. 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
  93. 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
  94. 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
  95. 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
  96. 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
  97. 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
  98. 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
  99. 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
  100. 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
  101. No agreement on an amendment to the crypto tax reporting provisions of the Infrastructure Bill materialized today. https://twitter.com/jerrybrito/status/1424543439396429828
  102. 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
  103. 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
  104. 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
  105. 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
  106. 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
  107. 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
  108. 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
  109. 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
  110. IOHK’s “Essential Cardano” list of projects keeps growing! https://github.com/input-output-hk/essential-cardano/blob/main/essential-cardano-list.md
  111. dcSpark is hiring for a few non-programmer positions. https://twitter.com/dcspark_io/status/1425490454787739649
  112. We got some coverage in Forbes over the Alonzo date reveal. https://twitter.com/ForbesCrypto/status/1425409227594555393
  113. Over $1 million in NFTs has now been sold on cnft.io. https://twitter.com/CNFT_IO/status/1425550638507769859

~Army of Spies


DeFined designed - DeFiNode printing service

Hello DeFiChain Community,

my name is Gabriel, I am an engineer from austria and part of the defichain community since the beginning of this year. I was convinced by the idea of decentralizing finance, the tokenomics and the social interaction where community members are helping out each other and treating each other with respect, friendlyness and are supporting each other, all along the journey. A big shout out to the community, without all of you the project woudn't be that awesome what it is today and really great stuff will come near future as well.

This post is all about the service that, Michael, you might know him from the community channels in Telegram, and myself are going to offer. As a community manager he takes care in answering all of the questions in his spare time for free at glance. (Careful with those impersonation attempts, folks). He will take care of the 3D printing ordering and delivering and I will take care of the website, marketing, legal and managing the processes allocated to the project.

The core idea is based on the DeFiNode community proposal and the DeFiNode Github Repo where you can run your own node on a Raspberry Pi easily installed with a bash oneliner or with a fully prepared image that you can install on your Raspberry, please choose your favourite method.

The value what the project delivers is giving the DeFiNode a proper housing. A case where the owner can choose the optical design by himself and gets it conveniently shipped to his home.

One fancy idea was a DeFiNode in the design of a jewelry box, which a community member was planning to give to his girlfriend as a present. Your creativity and imagination can be endless. Of course, you can also insert a full bitcoin node or any other raspberry pi project on it, where proper cooling is needed. There is also a storage for a HDD on the inside at the bottom of the box.

The service is hosted on the website DeFined designd - DeFiChain printing service and is available in english and german language.

For the beginning there will be the box printed and shipped, while you can order the parts from the DeFiNode shopping list by yourself and putting it together on your own. I had also got feedback from people that don't want to touch this by themselves. Thats also a point what I would like to get feedback from the community if this would be a handsome service for some members that are not that deep into running their own infrastructure at home.

The project is also referenced on DeFiNode Twitter and it had very positive feedback in my personal twitter channel. There is also a Telegram Group where we can speak about the technical details and experiences and share our success stories.

I divided the project calculation in two parts, the upfront costs, where the MVP is already delivered and publicly available and the ongoing costs which will come up when the printing of nodes is requested.

Projectcalculation

Upfront Costs

hourly rate amount € accumulated DFI accumulated (2 €)
website development 110 65 7150 3575
creation of digital Version of STL files, coloring 75 3 225 112,5
ongoing website development, improvements and ongoing maintenance 75 60 4500 2250
projectmanagement 75 11 825 412,5
representing the project on local events and blockchain groups, marketing and social media 75 40 3000 1500
documentation 70 4 280 140
taking care of your data - personal details, shipping address according GDPR, legal 95 6 570 285

Costs per Unit

DFI
manufacturing material 9,5 19
+ material overhead 3 6
= cost of material 12,5 25
+ production wage 5,5 11
+ manufacturing overhead 2,5 5
= costprice 20,5 41
+ service effort 6,15 12,30
= net sales price 26,65 53,30
+ VAT 5,33 10,66
=gross sales price 31,89 63,96
+ shipping costs 6,97 13,94
=gross sales price + shipping 38,95 77,90

For the structure of the payment in DFI we came up with following approach:

  1. The basic CFP is accepted where the service gets build up and is publicly available for you.
  2. The CFP for the first 50 Boxes gets approved and we can take requests for 50 boxes, print them according to the orders and ship them.
  3. If the first charge of the 50 boxes is printed and delivered, another CFP will be made and the next DFI for 50 boxes will be transferred.

To sum the calculation up it the overall allocation will be

online printing service 8275 DFI
charges of 50 1947,5 DFI

Please let us know what you think about the system design with its parameters and which approach you would take or if this is exactly what you want for the community and yourselves.

For the people who host their nodes already and photos haven't been published yet. Maybe you want to add them below in the post and give the community further input by adding your personal style.

I added an additional vote below, where you can choose your favourite design of nodes which have already been printed so your can get an impression of the different versions.

We are happy to take your thoughts and ideas about this project and are warmheartedly inviting you to post your comments and feedback below this post. If it gets good feedback I would even consider to open a shop where you can define all the elements of the box, but this fully depends on the response and demand on the market and the improvement of the service as feedback gets delivered.

Ecosystem and sustainabilty

For sustainabilty reasons, there is also a high demand from our planet so from all of us for ecosystem friendly materials to be used for printing.

We do our part for mother earth in using recycled and ecosystem friendly material.In addition to that, a special version will be available in wooden style, where wood filament with bio-organic composition is used for printing.

- 100% natural raw materials- Unique natural appearance- Easily compostable- CO2-neutral

Let us know if this is something you whish to see in your house and you have a place where you can put a wooden box safely according to fire protection laws.

Please add your comments, if this is in general reflects an idea which the community is willing to accept and backup in long term to give a part of the community fund to the printing service, so we can add value in increasing the decentralization and media presence by adding more physical nodes to DeFiChain like you choose to have it.

Best regards and thanks

Michael and Gabriel

View Poll


Thursday, August 12, 2021

Bitcoin: an overview of the current market

Bitcoin investors are more concerned about inflation than regulation

After the price of Bitcoin hovered between $30,000 and $35,000 for weeks, the currency returned to showing signs of slow recovery and hit $46,000 this week.

3 weeks ago Bitcoin started to rise sharply and hit $39,000, has since moved up slowly, and is now trading at around $46,000, its highest since mid-May.

The high cycle has not ended...

Historically, Bitcoin bull cycles precede an event known as halving (the last was in 2020), which occurs every 4 years and halve the reward of mining.

But previous cycles tended to be shorter (relative to time), I believe the current bull cycle is being longer due to the effects of the pandemic: monetary stimuli, negative interest rates, bond issuance, etc.

We had several effects and consequences of this on the economy, inflation did not take long to appear and is still growing, bringing with it a loss of purchasing power that ends up affecting the poorest.

Bitcoin investors are more concerned about inflation than regulation

An infrastructure bill that could impose certain tax burdens and restrictions on the cryptocurrency market was recently approved by the US Senate.

“The Senate voted 69-30 to approve the infrastructure project with the original crypto-tax clause (see below). Then, the project goes to the Chamber, which is in recess until September 20th. We don't know yet if we'll have a chance to make amends there. TBD.", said Jake Chervinsky, attorney and general counsel for the Compound.

There appears to be nothing that can deter lawmakers from the world's largest economy, who aren't concerned with halting the massive spending that has driven US public debt to more than $28 trillion.

Despite the regulations that are about to be “passed” and others already underway, investors seem to be more concerned about inflation and certainly, everyone should.

Even with the regulations taking place, Bitcoin returned to have a recovery in price, showing an optimistic scenario for the coming months.

Inflation in Brazil

The IPCA (Extended National Consumer Price Index) for the month of July was recently released, reaching the highest level since July 2002, reaching 9% in 12 months.

Inflation is certainly not transitory, it may even happen at intervals, but it will have repercussions for a long period. An economy worldwide affected, in all countries by common causes, recovery will not be very fast.

On the other hand, on the positive side for investors and future investors, it is the ideal time to expose yourself to deflationary assets like Bitcoin, to protect yourself from the damage that happens in the economy due to the government's monetary system.

For Cryptocurrency development contact us

https://www.blockchainx.tech/crypto-currency-development


Bitcoin investors are more concerned about inflation than regulation

After the price of Bitcoin hovered between $30,000 and $35,000 for weeks, the currency returned to showing signs of slow recovery and hit $46,000 this week.

3 weeks ago Bitcoin started to rise sharply and hit $39,000, has since moved up slowly, and is now trading at around $46,000, its highest since mid-May.

The high cycle has not ended...

Historically, Bitcoin bull cycles precede an event known as halving (the last was in 2020), which occurs every 4 years and halve the reward of mining.

But previous cycles tended to be shorter (relative to time), I believe the current bull cycle is being longer due to the effects of the pandemic: monetary stimuli, negative interest rates, bond issuance, etc.

We had several effects and consequences of this on the economy, inflation did not take long to appear and is still growing, bringing with it a loss of purchasing power that ends up affecting the poorest.

Bitcoin investors are more concerned about inflation than regulation

An infrastructure bill that could impose certain tax burdens and restrictions on the cryptocurrency market was recently approved by the US Senate.

“The Senate voted 69-30 to approve the infrastructure project with the original crypto-tax clause (see below). Then, the project goes to the Chamber, which is in recess until September 20th. We don't know yet if we'll have a chance to make amends there. TBD.", said Jake Chervinsky, attorney and general counsel for the Compound.

There appears to be nothing that can deter lawmakers from the world's largest economy, who aren't concerned with halting the massive spending that has driven US public debt to more than $28 trillion.

Despite the regulations that are about to be “passed” and others already underway, investors seem to be more concerned about inflation and certainly, everyone should.

Even with the regulations taking place, Bitcoin returned to have a recovery in price, showing an optimistic scenario for the coming months.

Inflation in Brazil

The IPCA (Extended National Consumer Price Index) for the month of July was recently released, reaching the highest level since July 2002, reaching 9% in 12 months.

Inflation is certainly not transitory, it may even happen at intervals, but it will have repercussions for a long period. An economy worldwide affected, in all countries by common causes, recovery will not be very fast.

On the other hand, on the positive side for investors and future investors, it is the ideal time to expose yourself to deflationary assets like Bitcoin, to protect yourself from the damage that happens in the economy due to the government's monetary system.

For Cryptocurrency development contact us

https://www.blockchainx.tech/crypto-currency-development


Bitcoin investors are more concerned about inflation than regulation

After the price of Bitcoin hovered between $30,000 and $35,000 for weeks, the currency returned to showing signs of slow recovery and hit $46,000 this week.

3 weeks ago Bitcoin started to rise sharply and hit $39,000, has since moved up slowly, and is now trading at around $46,000, its highest since mid-May.

The high cycle has not ended...

Historically, Bitcoin bull cycles precede an event known as halving (the last was in 2020), which occurs every 4 years and halve the reward of mining.

But previous cycles tended to be shorter (relative to time), I believe the current bull cycle is being longer due to the effects of the pandemic: monetary stimuli, negative interest rates, bond issuance, etc.

We had several effects and consequences of this on the economy, inflation did not take long to appear and is still growing, bringing with it a loss of purchasing power that ends up affecting the poorest.

Bitcoin investors are more concerned about inflation than regulation

An infrastructure bill that could impose certain tax burdens and restrictions on the cryptocurrency market was recently approved by the US Senate.

“The Senate voted 69-30 to approve the infrastructure project with the original crypto-tax clause (see below). Then, the project goes to the Chamber, which is in recess until September 20th. We don't know yet if we'll have a chance to make amends there. TBD.", said Jake Chervinsky, attorney and general counsel for the Compound.

There appears to be nothing that can deter lawmakers from the world's largest economy, who aren't concerned with halting the massive spending that has driven US public debt to more than $28 trillion.

Despite the regulations that are about to be “passed” and others already underway, investors seem to be more concerned about inflation and certainly, everyone should.

Even with the regulations taking place, Bitcoin returned to have a recovery in price, showing an optimistic scenario for the coming months.

Inflation in Brazil

The IPCA (Extended National Consumer Price Index) for the month of July was recently released, reaching the highest level since July 2002, reaching 9% in 12 months.

Inflation is certainly not transitory, it may even happen at intervals, but it will have repercussions for a long period. An economy worldwide affected, in all countries by common causes, recovery will not be very fast.

On the other hand, on the positive side for investors and future investors, it is the ideal time to expose yourself to deflationary assets like Bitcoin, to protect yourself from the damage that happens in the economy due to the government's monetary system.

For Cryptocurrency development contact us

https://www.blockchainx.tech/crypto-currency-development


Bitcoin investors are more concerned about inflation than regulation

After the price of Bitcoin hovered between $30,000 and $35,000 for weeks, the currency returned to showing signs of slow recovery and hit $46,000 this week.

3 weeks ago Bitcoin started to rise sharply and hit $39,000, has since moved up slowly, and is now trading at around $46,000, its highest since mid-May.

The high cycle has not ended...

Historically, Bitcoin bull cycles precede an event known as halving (the last was in 2020), which occurs every 4 years and halve the reward of mining.

But previous cycles tended to be shorter (relative to time), I believe the current bull cycle is being longer due to the effects of the pandemic: monetary stimuli, negative interest rates, bond issuance, etc.

We had several effects and consequences of this on the economy, inflation did not take long to appear and is still growing, bringing with it a loss of purchasing power that ends up affecting the poorest.

Bitcoin investors are more concerned about inflation than regulation

An infrastructure bill that could impose certain tax burdens and restrictions on the cryptocurrency market was recently approved by the US Senate.

“The Senate voted 69-30 to approve the infrastructure project with the original crypto-tax clause (see below). Then, the project goes to the Chamber, which is in recess until September 20th. We don't know yet if we'll have a chance to make amends there. TBD.", said Jake Chervinsky, attorney and general counsel for the Compound.

There appears to be nothing that can deter lawmakers from the world's largest economy, who aren't concerned with halting the massive spending that has driven US public debt to more than $28 trillion.

Despite the regulations that are about to be “passed” and others already underway, investors seem to be more concerned about inflation and certainly, everyone should.

Even with the regulations taking place, Bitcoin returned to have a recovery in price, showing an optimistic scenario for the coming months.

Inflation in Brazil

The IPCA (Extended National Consumer Price Index) for the month of July was recently released, reaching the highest level since July 2002, reaching 9% in 12 months.

Inflation is certainly not transitory, it may even happen at intervals, but it will have repercussions for a long period. An economy worldwide affected, in all countries by common causes, recovery will not be very fast.

On the other hand, on the positive side for investors and future investors, it is the ideal time to expose yourself to deflationary assets like Bitcoin, to protect yourself from the damage that happens in the economy due to the government's monetary system.

For Cryptocurrency development contact us

https://www.blockchainx.tech/crypto-currency-development