Monthly Archives: December 2021

How Bitcoin Creates Our New Reality

The essence of time, money, has been corrupted — but Bitcoin offers a new reality in which this link is fixed. “Time is money, Money is time, But how are we printing money if we can’t print time?” You and I work for money. Money is meant to reflect the value of our time and energy, which becomes more scarce and valuable as we age. However, our money buys us less and less every day, which means money becomes less scarce and valuable as we age. Time […]

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How Bitcoin Has Characteristics Of Veblen Goods

What are Veblen goods? How are they different from regular goods and commodities and how is bitcoin a Veblen good? Watch “Bitcoin Is A Veblen Good” On YouTube.  For most products and services, there is an inverse relationship between price and demand. That is, when the price goes up, demand goes down. However, for Veblen goods, there is a direct relationship between price and demand. When the price goes up, demand for that product goes up too. This is because Veblen goods are luxury products meant to […]

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Virtual Land Adjacent to Snoop Dogg’s Sandbox Estate Sells for $450K in Ethereum

The popular American rapper Snoop Dogg revealed at the end of September that he acquired land in the blockchain-based virtual metaverse The Sandbox and had plans to recreate his mansion. On December 2, The Sandbox held a “Snoopverse Land Sale,” which allowed participants to purchase land adjacent to the famous hip hop star’s virtual estate. Plot of Land Next to Snoop’s Virtual Mansion in The Sandbox Metaverse Sells for Six-Digits Two days ago, The Sandbox disclosed it was selling virtual plots of land that are located next […]

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Things to know (and fear) about new IRS crypto tax reporting

The new law redefines “cash” to include “any digital representation of value” including cryptocurrency, but in an anonymous system, is this going to work? The Infrastructure Investment and Jobs Act (H.R. 3684) put crypto in the crosshairs, where Congress and the Internal Revenue Service (IRS) hope to scoop up enormous tax dollars. This reporting regime is projected to rake in an astounding $28 billion over the next ten years. No other provision in this massive recently enacted federal law is supposed to produce tax dollars that are […]

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Crypto Flash Crash Prompts El Salvador to Buy the Dip — 150 Bitcoins Added to Treasury

As the crypto market shed billions of dollars, El Salvador bought the dip, taking advantage of the falling price of bitcoin early Saturday morning. With the latest buy, El Salvador has purchased a total of 1,370 bitcoins altogether. According to Salvadoran president Nayib Bukele, the coins were bought seven minutes before the price of the cryptocurrency bottomed out. El Salvador Buys the Dip: 150 Bitcoins Added to Treasury The price of many cryptocurrencies began plummeting late Friday night, with bitcoin sliding almost 14% from slightly above $52K […]

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Blockchains need to move toward standards for interoperable asset transfers

A new emerging economy, which includes blockchain-native tokens, digital tokens, stablecoins and CBDCs, requires interoperable blockchain standards. Cross-chain asset transfer has been around for several years. The concept developed almost as soon as multiple blockchains were developed and began to gain adoption. In its initial application, the transfers focused on swaps between the chain’s native assets and tokens, which led later to several decentralized exchanges. While exchange of assets has its utility, pure transfer and movement of assets and other data easily across blockchains without changing their […]

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Gold, Bitcoin or DeFi: How can investors hedge against inflation?

Over the last 10 years, Bitcoin has been through 20 different bear markets. Is it finally starting to prove itself? Bitcoin (BTC) was created in the aftermath of the 2008 financial crisis and planned to solve the problems created by loose monetary policies. The cryptocurrency’s creator, Satoshi Nakamoto, said in late 2008 that the cryptocurrency’s supply increases “by a planned amount” that “does not necessarily result in inflation.” The cryptocurrency’s inflation rate has been fixed and its circulating supply is capped at 21 million coins, expected to […]

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Ethereum acts as a ‘hedge’ in Bitcoin price crash as ETH/BTC hits 3-year high

The second-largest cryptocurrency posts dwarfed losses compared to Bitcoin’s 21% price decline Saturday. Ethereum’s native token Ether (ETH) plunged alongside other cryptocurrencies on Dec. 4. Still, its move downside did not deter it from hitting a three-year high against Bitcoin (BTC), the world’s leading crypto by market capitalization. The ETH/BTC exchange rate jumped a little over 11.50% to hit 0.0835 BTC for the first time since May 2018. The pair’s price rally appeared in contrast to Ether’s 15% price drop against the U.S. dollar on Saturday, which […]

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Crypto Economy Loses Billions in Market Downturn, Bitcoin Price Slips More Than 25% in 30 Days

A great number of cryptocurrencies dropped considerably in value during the early morning hours (after 12:00 a.m. EST) on December 4. At the time of writing, the crypto economy is down more than 16% and the price of bitcoin slid below the $50K zone to a low of $43,972 per unit. Since then, bitcoin has managed to climb back to just above the $47K per unit position. Crypto Economy Value Dives Digital currency markets have lost significant value during the last 24 hours as billions have left […]

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MetaGods Raises $3M Investment to Develop Play-to-Earn 8-Bit Action RPG

PRESS RELEASE. MetaGods, the world’s first play-to-earn 8-bit action role-playing game built on the blockchain, has raised $3 million USD in funding from supporting investors. Numerous investors and partners have partnered with the initiative to combine blockchain technology and the fast growing gaming sector to revolutionize the world of non-fungible tokens. MetaGods is the world’s first blockchain-based 8-bit action RPG. Players will be able to build their own avatars based on mythologies and acquire unique characters and skills. In addition to fighting dangerous monsters, the MetaGods blockchain […]

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