Monthly Archives: April 2021

Goldman Sachs Doubts Bitcoin as Store of Value Citing Environmental Problems and ‘Lack of Real Use’

Global investment bank Goldman Sachs is questioning whether bitcoin can be a long-term store of value and digital gold. The firm’s analysts cited various issues with the cryptocurrency, such as environmental problems, “lack of real use,” and competition from other cryptocurrencies. Goldman Sachs Sees Problems With Bitcoin as Long-Term Store of Value Goldman Sachs published a note outlining some problems with bitcoin as digital gold on Wednesday. The firm’s analysts, led by its top commodities strategist Jeffrey Currie, have voiced concerns about whether the cryptocurrency could become […]

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Reimagine Your Life With Bitcoin

Part 2 of a series discussing the shared values between Bitcoin and Jordan Peterson’s newest book, Beyond Order. Rule II: Imagine Your Life With Bitcoin, Then Aim Single-Mindedly at That A reimagination of “Beyond Order” by Jordan Peterson through the lens of Bitcoin. Preface This is part 2 of a 12-part series. This work follows the chronological order of “Beyond Order.” Each piece represents one chapter and the corresponding subtitles below match the subtitles in the original work. If you own the book, it adds a second […]

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Money Legos keep stacking! Finance Redefined 4/21-4/28

Why acquire when you can integrate? Happy Wednesday fellow DeFi degens!  I was expecting to spend a large portion of this edition of Finance Redefined analyzing Aave’s liquidity mining program. There was some anxiety from investors that the emission of 2,200 $AAVE per day (which would translate to roughly 5% of the ecosystem reserve fund of 2.8 million AAVE per year) might end up dragging down the token’s price as farmers earn and dump.   I would feel very uncomfortable holding an asset if the governance token of […]

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Sub-$60K monthly close will make Bitcoin’s $3.9B options expiry a non-event

Bitcoin options traders hoped for a $60,000 monthly close, but the balance between calls and puts signal the expiry will be a non-event. Bitcoin’s (BTC) 2021 performance has been impressive, but traders waiting for a record-breaking monthly candle are likely to be disappointed this week.  After peaking at $64,900 on April 14, a jaw-breaking 27% correction followed, causing BTC price to drop to the $46,000 level. This downside move obliterated more than $9 billion long BTC futures contracts in a swift action that was previously unthinkable to […]

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Smoothy Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the Smoothy Token (SMTY) under the pair USDT/SMTY on Mar 29 at 1:00 p.m. UTC. Smoothy is a novel single pool liquidity protocol specializing in same-backed assets with low-cost zero-slippage swapping and maximum interest earning capabilities. Smoothy’s unique design allows the swap ratio of the same backed asset to be fixed at 1:1. Smoothie is designed to make the gas fee 80% lower than […]

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U.S. Government Sells 9.45 BTC At Significant Market Discount

Surprisingly, 9.45 BTC auctioned off by a U.S. government agency was purchased at a market discount. The U.S. government sold 9.45 BTC during a four-day auction that closed earlier this week, with the bitcoin being purchased at a notable discount compared to market prices. The auction was performed by GSA Auctions, a service of the United States General Service Administration (GSA) that functions as the federal government’s online clearinghouse for surplus, federally-owned assets and equipment. “Cryptocurrency is certainly some of the most unique items to ever come […]

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As Fed Commits To Holding Interest Rates At 0%, More Investors Will Turn To Bitcoin

The Federal Reserve has committed to keeping the fund rate at zero or near zero, maintaining the bull case for bitcoin. During today’s Federal Open Market Committee (FOMC) press conference, Chair of the Federal Reserve Jerome Powell maintained that the Fed will keep its fund rate unchanged at 0.00% to 0.25%. Powell also confirmed that the Fed will maintain the current pace of balance sheet expansion with the continuation of buying $80 billion of U.S. Treasury bonds and $40 billion of mortgage-backed securities per month. The Fed’s […]

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Bubba Gump Shrimp seafood restaurants will start accepting Bitcoin payments

There’s Bitcoin kabobs, Bitcoin creole, Bitcoin gumbo. Pan fried, deep fried, stir-fried… Many chain restaurants operated by parent company Landry’s will begin to accept Bitcoin as a form of payment for meals. In an interview with CNBC yesterday, Landry’s chair and CEO Tilman Fertitta said “80% to 90%” of the company’s restaurant brands — including the Bubba Gump Shrimp Company, Morton’s The Steakhouse, and Mastro’s — would accept Bitcoin (BTC) and other cryptocurrencies in the next 90 days. Fertitta said the move was a step towards bringing […]

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Alleged Bitcoin Fog Operator Arrested for Money Laundering, Admin Accused of Mixing 1.2 Million BTC

U.S. law enforcement arrested the alleged operator of Bitcoin Fog, Roman Sterlingov in Los Angeles on Tuesday. Documents show Sterlingov is accused of laundering over 1.2 million bitcoin via the Bitcoin Fog mixer, a tool that allows users to mix transactions together. According to federal investigators, Sterlingov ran the operation for ten years and processed $336 million in BTC transactions. US Government Charges Alleged Bitcoin Fog Kingpin With Money Laundering The U.S. government has charged and arrested a Russian and Swedish citizen Roman Sterlingov with money laundering […]

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An Ode And Forthcoming Obituary To Bitcoin’s Four-Year Cycle

A reflection on Bitcoin’s four-year market cycle—and how a healthy block space market will eventually kill it for its own good. Dilution-proof, April 28, 2021 On January 3, 2009, Satoshi Nakamoto launched the Bitcoin network by mining the first block (the “genesis block”) in the Bitcoin blockchain. Today, a bit more than 12 years later, the network stores over $1 trillion in value and transfers more than $20 billion in on-chain volume on a daily basis. To get there, bitcoin went through multiple boom and bust cycles […]

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