Existing Permissions, Heated Regulators, Useless Thinking and 20 Crypto Jokes

This cryptoweek, Vladimir Putin declared that bitcoin has the “right to exist”. So there you go, no worries, BTC will not vanish from existence. Also, JPMorgan boss Jamie Dimon reiterated that he thinks BTC is useless… Anyways, with the rise of crypto prices came a jump in the crypto market sentiment, derivatives traders were more active again with open interest in BTC futures going up significantly, and as BTC entered the spotlight, Ethereum took a break. Speaking of Ethereum, half a million dollars was paid for a failed transaction. Yikes! Polkadot rallied too as the team said that parachains can be deployed. Bitfury is said to be valued ‘in billions’ of pounds as IPO rumors reemerge, a new funding round could bring Consensys’ value to USD 3bn, Binance dedicated USD 1bn towards growing the ecosystem of its BSC, FTX US launched its new NFT marketplace, 1.5% of Coinbase existing user number joined their NFT marketplace waitlist in just a day, and some critics described TikTok’s planned NFT rollout as a flop. As this was happening, Stripe is looking to hire a team of engineers for its crypto operations, while the online voting period for the Mt. Gox creditors to approve or reject the proposed civil rehabilitation plan ended.

Meanwhile, experts were disagreeing on the prospects of a bitcoin ETF in 2021 as the deadline nears, and ‘well-informed’ SEC commissioners disagreed on the crypto regulation while the SEC’s current approach is ‘harmful’. Also, the IMF said that a peak in inflation is expected during the final months of this year, but that central banks should not tighten monetary policy yet. In South Korea, USD 1.8m remained unaccounted for two weeks post-shutdown, a regulator said that DeFi and NFT regulations are coming, and lawmakers are inundating parliament with crypto tax delay bills. Following China’s crackdown on BTC mining earlier this year, the US became the largest Bitcoin mining hub, and while Moscow will not follow Beijing’s regulatory move, it may banish exchanges overseas – while the real Chinese crypto crackdown is set to begin. Some citizens are resorting to “identity theft” in a bid to obtain USD 30 worth of BTC through Chivo, and 45% of respondents in a survey said they plan to use crypto payments when making non-cash transactions within the next 2 years.

Are you ready to laugh now? Ready, get set, go!

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First things first – hi, CT!

Next, it’s only proper for us to revisit the BTC-ETH dynamics.

Wyd?

Back to ETH. ‘On chain’, you get it? On? Chain? Let me explain…

Now, a special look at Ethereum’s future through the eyes of Bitcoiners.

‘Where do we put the beacon?’