Read The Weekly Summary - Cryptocurrency Edition [Issue 52.0]

The Weekly Summary - Cryptocurrency Edition [Issue 52.0]

By tvlachak | The Weekly Summary | 4 Oct 2021


Issue 52.0 / October 4, 2021

The following are my recent learnings about cryptocurrency, blockchain, and NFTs.

Cryptocurrency

It's been about a month since El Salvador passed Bitcoin into law as legal tender, along with the U.S. dollar. President Bukele recently shared an exciting update about the usage of the Chivo BTC wallet. Over 2 million Salvadoran citizens are active on the wallet. According to Bukele, this is "...more users than any bank in El Salvador and is moving fast to have more users than ALL BANKS IN EL SALVADOR combined."

Two children are earning $30,000 a month mining Bitcoin, ETH, and Ravencoin. “Crypto mining is just like mining for gold or diamonds,” says the fourteen-year-old. He also adds, “Instead of using shovels, you mine with computers. Instead of finding a piece of gold or a diamond in the mine, you find a cryptocurrency.” Fellow P0xer TrocProcLock provided analysis and commentary on the details of mining crypto at home with two important key points. You can add your thoughts on crypto mining to this Noise thread

Messari is a New York-based fintech 2.0 startup company that's heavily focused on crypto data. According to Messari's LinkedIn profile, they're, "...building an open data library for blockchain projects and crypto assets." The Defiant is reporting that the founder of Messari, Ryan Selkis, is planning to run for the U.S. Senate in 2024. Currently, there is poor government leadership and a lack of understanding in the money revolution that crypto is bringing to the table to save fiat-based systems like the American dollar. The United States needs more individuals like Selkis running for congress!

Twitter added a Bitcoin tipping feature to user profiles to support the flourishing creator economy. The BTC tipping on Twitter is currently rolling out this feature to Apple iOS users. Are you on Twitter?

Right now there's a booming creator economy that's intersecting with the blockchain economy and it's making beautiful fireworks. Want a daily glimpse into the life of a crypto content creator? Get motivated by reading this Publish0x post.

PayPal may be ushering in “the next digital payment era.” With this move, PayPal is now giving access to 'Finance 1.5' to millions of their customers. Through their "super app," PayPal users can access or do "high-yield savings account, direct deposit, bill pay, a digital wallet, P2P payments, shopping tools, crypto capabilities, and more." When so many financial features are brought under one roof, especially with access to crypto, it's a huge leap for main cryptocurrency adoption. However, some users have concerns with PayPal entering into crypto banking services. What do you think?

In my first Noise.cash tutorial, I explain if you want to share your Noise links in email, on Twitter, or on a blog platform like Publish0x. The second method is highly recommended since it may earn you more Bitcoin Cash.

I'm finally baking on Cake DeFi. As a new user, I received $30 of DFI that automatically gets frozen for six months earning a base of 63.3% APY along with a 5.73% bonus APY.

I'm baking on Cake DeFi

Bitcoin Humor

South Park is an adult animated TV series that's been on the air for 23 seasons. A recurring character in the controversial cartoon is Kenny. Kenny gets killed in every show, but always returns for the next episode. Dennis Lynch from Morgan Stanley's asset management group compared Bitcoin's frequent drop in price to Kenny's fatal outcome in every South Park episode. Bitcoin may drop, but it always recovers. Lynch said, "I like to say that bitcoin's kind of like Kenny from South Park - he dies every episode, and is back again."

You probably read recently that China banned Bitcoin, yet again. Like Kenny from South Park, Bitcoin manages to reemerge again in China.

NFTs

The Head of Consumer Product Marketing over at Twitter posted a 1-minute prototype video of what an NFT verified profile may look like on Twitter. It shows the connecting of a crypto wallet and then the selection of the #NFT that appears in the profile. There's also a collectible tab that shows all the NFTs owned by the verified profile. Watch the awesomeness:

NFT property deeds sound like a great idea. Putting real estate transactions on the blockchain would be very smart! This author thinks moving property sales to smart contracts may supercharge the industry. I agree. What do you think about NFT deeds

Greg Isenberg an investor in web3 communities and community-based products is predicting what may be happening next year when social media influencers collide with NFTs and DAOs. ReNoise this.

How to avoid NFT scams. Here's a great Twitter thread to read and stay secure:

I'm excited to receive my third NFT from the Art of Byron series to add to my collection. I won a cool zombie cat in a recent giveaway from PVMihalache that was announced in the NFT Breaking News #20.

Continue Learning With Me

You've read the Cryptocurrency Edition from The Weekly Summary 52.0. where I blog about learninginvestingpersonal financeentrepreneurship, and free stock giveaways. I also like doing push-ups.

Disclaimer

Ideas and information presented in my articles are for educational purposes only and not intended to be investment advice. Investments in the stock market and cryptocurrency could be speculative and volatile and result in money loss. Always conduct your own research. You may want to obtain independent legal, financial, taxation, and/or other professional advice with respect to any information from this content. I may mention products or services and some of those products are affiliate links that reward me.

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tvlachak
tvlachak Verified Member

I'm a student of personal finance, investing, cryptocurrency, NFTs, & blockchain. I'm currently learning and thinking in public on The Weekly Summary. I'm also a foodie that loves fitness.


The Weekly Summary
The Weekly Summary

The Weekly Summary is a growth lifestyle newsletter that focuses on finances, learning, web3 and more. This weekly newsletter curates resources with my insights and analysis in a round-up that will inform and educate readers.

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