BTC in USD = $19,290
Hello World,
I woke up this morning to a quick little BTC flash crash where the price caroomed from 19.5k to 18.1k and then back up in a matter of minutes. Did I buy the dip? Hell yes.
The ETH 2.0 blockchain is set to go live at 11 am today. I’m pretty interested. Vitalik Buterin does great work and might be the smartest dude in crypto. He seems to think ETH 2.0 is going to be revolutionary. I think it could be revolutionary. The big difference between ETH 1.0 and 2.0 is the blockchain will now be secured through proof-of-stake instead of proof-of-work.
I wish crypto had decided on easier to understand terms for blockchain stuff. Basically proof of stake allows computers to mine ETH based on a raffle system where the more money you put in, the more tickets you have. This is different than the proof of work system where the mining process is founded upon burning electricity and upping computing power to ‘buy’ raffle tickets (aka hard math equations).
Proof of stake is quite elegant when you think about it. I’m just not smart enough to project whether or not it will be successful.
3 Cool Things You Should Be Interested In:
- BlockFi is offering the first crypto rewards credit card.
- Dan Held and Erik Vorhees debate BTC vs Alts on the “What Bitcoin Did Podcast.”
- Over the last 24 hours Marketwatch, Motley Fool, NY Times, Bloomberg, and many more news outlets have reported on BTC’s price. This is real. This is almost not niche anymore. It is time to get in the game.
Tweet of the Day:
“Questioning the intrinsic value of #Bitcoin is about as silly as questioning the intrinsic value of New York City.” – Michael Saylor, CEO Microstrategy
This dood is wild. Everything he says is biased because his company put $425 million into BTC, so he is kind of forced into shilling it.
He does have a point though. Who cares about intrinsic value? Gold’s intrinsic value is that it can be used as money (which is why it is popular as a status symbol/jewelry).
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Have a wonderful day world,
-Kram
KRAM 