3 metrics indicate the bitcoin crash isn’t over. Still, BTC is undervalued. Bitcoin Magazine warns: As the price continues to fall, don’t trust custodians. Read all three of these and take them to heart. The fall isn’t over, bitcoin is undervalued, and don’t trust custodians. If you don’t own the keys, you don’t the crypto.
A rumor has been spreading about Tether’s commercial paper assets being backed by Chinese or Asian commercial paper to the tune of 85 percent. Tether says it isn’t so and vows to reduce commercial paper to zero. Meanwhile, expectations are growing that USDC will outpace USDT and take over as the No. 1 stablecoin. I fully expect USDC to overtake USDT before the end of the bear run.
OpenSea moves to Seaport to save users on Ethereum gas fees.
5 red flags about Coinbase Global’s future. These are no joke. While I expect Coinbase to weather the coming storm, I wouldn’t invest in it.
85 percent of retailers expect digital currency payments to be ubiquitous in five years. I agree. Offering a payment option for cryptocurrency fanatics will become a competitive race as retailers rush to figure out how to implement crypto payments systems into their operations. And it won’t just be one cryptocurrency that wins the race. In a decade, consumers will have hundreds of options for making payments anywhere they want. Future debit cards will allow consumers to make payments in any currency, from bitcoin to Zcash as well as fiat money.
Binance CEO Changpeng Zhao says the crypto market is exhibiting normal behavior. And he’s right. Don’t be afraid of the snowflakes.
Which cryptocurrencies are the most profitable to mine?
TRX bounced 27 percent in 24 hours as USDD regains peg.
MetaMask, Phantom expose Demonic flaw that allows seed phrases to be stolen.
Maker cuts off Aave’s Dai supply.
Can a stablecoin be collateralized by a fully decentralized physical asset? (A MUST-READ)
7 cryptocurrencies that actually protect your privacy. I believe privacy coins will see a surge some time after the crypto winter.
Will the crypto crash lead to a better crypto future? There is turbulence ahead. No doubt about it. But I’m optimistic long term. Even with regulation, the crypto world will be a better place when the snow melts.
Will metaverse spending be too big to ignore? According to McKinsey, it could reach $5 trillion by 2030. But researchers say working in the metaverse will suck big balls. And users will likely prefer holograms to avatars.
Atlantic Council released a report detailing how a CBDC should be designed. (ANOTHER MUST-READ) A CBDC that does not offer privacy protection for consumers would be worse than a credit card. If the U.S. does implement a CBDC, they should design it in such a way that consumers have maximum privacy and security against unreasonable search and seizure. Otherwise, the Fourth Amendment will be rendered obsolete.
Why technological neutrality is essential for Web3. This is a very thoughtful piece on why it’s important for legislators to consider the activity, whether online or offline, rather than the technology when crafting legislation.
How Web3 will impact the enterprise.
Short sellers are betting that crypto will die.
Samsung launches all-in-one digital wallet that allows Galaxy users to store ID cards, credit cards, passwords, digital keys, boarding passes, and membership cards in one mobile app. I can see a day when every smartphone will have a similar app. You’ll hold your crypto, passwords, cryptographic keys, NFTs, DAO membership tokens, governance, tokens, and probably even your medical records.
Should you keep your NFTs in a bear market?
Central African Republic is doubling down on bitcoin.
What is LeoFinance?
LeoFinance is a thriving community that is a part of the Hive blockchain ecosystem. There is a lot I could go into about what that means, but I’ll boil it down to this simple concept - decentralization. Hive is a decentralized blockchain with social media components. LeoFinance is one interface on that blockchain and one of the most popular. To help you better understand LeoFinance, and Hive, here’s a little bit about LF’s growth metrics.
Snark and commentary in italics, but no financial advice appears anywhere in this newsletter.
Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.
First published at Cryptocracy. Not to be construed as financial advice.