Daily Crypto NewsEDITION #39, 30 September 2020

88% through, 2.5M to go

Hey #Moni Maker 👌

Today, in 1980, the first Ethernet specification was published. After 40 years, we could hardly imagine our life without this technology - without it, it would not have been possible for all our beloved crypto to appear, and you would not be able to read our stories now). And we, by the way, remember how many people used to hate the Internet and shout that no one needs it and it will be banned. Ring any bells? 🙃 Enough memories, let's go check out the latest news!

The amount of coins mined exceeded 18.5 million. Less than 2.5 million to go. Miners will "extract" half of the remaining coins in the next four years and the rest will be spread out through another 116 (until 2140).

This process follows Satoshi Nakamoto’s algorithm. New Bitcoins are released every time a new block is generated, about once in 10 minutes.

The number of coins received by the miners (also called a reward) for mining the block is periodically reduced: every four years the network experiences a so-called “halving”. The main purpose of halving is to control the emission of bitcoins and reduce inflation over time.

So what?

Watch this video to better understand halving.

As of us, we can only praise brilliant Satoshi for his farsightedness - to create the system for 100 years ahead is not the task every great sovereign can do ... Satoshi for president ? The President of the Whole World!

We will vote for you...over the blockchain :)

The aggregate transaction fees received by Ethereum miners in 2020 are twice as high as those paid to Bitcoin miners. The total remuneration in the ETH network reached almost $350 million, and in the Bitcoin network is at $146 million.

The graph prepared by Coinmetrics shows that in the second half of the year, Ethereum commissions increased dramatically, which coincided with the release of Compound tokens and the beginning of the Yeld Farming trend. In 2020, the total Ethereum fees equaled those of the Bitcoin Commission on August 12 and have been growing rapidly since then.

So what?

A dark horse is turning into a real player. Satoshi, of course, is the King and God, but Vitalik is is not a slouch as well!

Buterin doesn’t speak about DeFi too positively (in public).

Even if DeFi does fail, ETH has already shown its ability to be a good competitor and creator in one face.

Billionaire and CEO of Galaxy Digital, Mike Novograz, known as a supporter of investments in gold and Bitcoin, believes that Bitcoin is more convenient.

The billionaire predicted increased volatility in the stock market due to the presidential elections in the United States. The election is less than 40 days away, and as it approaches, the fears of people who prefer to invest in stocks will be increased.

“There will be a time to buy stocks again but I think with this election literally 40 days away, if Biden wins, he’s raising taxes and he’s raising capital gains tax, most specifically. The market is not going to digest that well,” he noted, adding, “I think Biden is going to win.” The billionaire investor further revealed: “I am short the Nasdaq, I am short some Apple, [and] I’m short Tesla.” © Mr.Novograz

Mike also admits that the role of gold during the uncertainty will grow. But in terms of technical and fundamental characteristics, BTC is still more attractive than gold, and this has already been noticed by many investors.

So what?

Let’s tell the truth, sorry. Even If you don’t know who Trump or Biden are, you are dependent on the USA anyway; and on the US elections too.

But! Our portfolios are already in BTC. They ARE BTC 😎

"Blockchain and bitcoin point to a future, and point to a world, where content exists forever, where it’s permanent, where it doesn’t go away, where it exists forever on every single node that’s connected to it," Dorsey told Human Rights Foundation president Thor Halvorssen.

Also in early September, Jack said in an interview with Reuters that Bitcoin is doomed to become the currency of the Internet. And didn’t even rule out the possibility of bitcoin becoming a world reserve currency by 2030.

So what?

Bitcoin simply has ALL chances to conquer the world and BECOME the currency of the Internet. Because...

Here is a list of 100 arguments why. We have already given it a bunch of times.

After all, what is a more convenient way to transfer money: through a Western Union branch, standing in queues, or by making three clicks?