Bitcoin dominance waning The price of Bitcoin has seen a solid recovery over the last week. It currently sits around $51,200. Yet other assets have once again outperformed Bitcoin this week. Cardano (ADA) is up 23% this week, Polygon (MATIC) is up 25% in the week, and Polkadot (DOT) price is up over 30%. In contrast, Bitcoin price is up 9% this week, which is still nothing to scoff at. This does show that coins on smaller networks are beginning to gain more traction, lowering the dominance Bitcoin has shown over the cryptocurrency market for its entire run. However, this is not due to a lack of people buying or…
Can Cryptocurrency Disrupt The Dollar?
Meme token pumps, politicians give their take, and old vs new money
Santa Floki On Christmas day, Elon Musk made a seemingly harmless tweet about his dog, Floki, wearing a Santa Claus costume. The CEO of Tesla and SpaceX generates social media buzz with nearly every tweet he makes. This tweet in particular caused some select individuals to make a lot of money. Santa Floki (HOHOHO) is one of the thousands of dog based meme tokens that float around the cryptocurrency community. The meme token has seen gains of over 5000% in a couple days, all because of an Elon Musk tweet. Musk was not referring to the Santa Floki token, but was literally making a Twitter post about his dog for…
What are DAOs?
How decentralized autonomous organizations communicate and function
DAOs and how they communicate A Decentralized Autonomous Organization (DAO) is an organized community on the Internet that pools funds together in an effort to achieve a common goal. DAOs are often run using Ethereum (ETH) tokens, but they can have their own governance tokens specific to the project as well. The DAOs that tend to get news coverage are those that fail at their goal, or that get hacked and lose millions. It’s conventionally unfair to use that as a reason to disparage the decentralized organizations, as the same thing also happens to normal LLCs. Discord is a platform that users can use to create servers for a variety…
Is Gary Gensler’s Bark Worse Than His Bite?
Chairman seeks greater authority, but Americans—and a Connecticut jury—aren’t convinced
SEC Chairman Gary Gensler thinks investors needs more protection when it comes to Crypto, telling a key Senate committee recently that when it comes to financing, issuing, lending or trading Crypto, more is better when it comes to Crypto regulation. Following his testimony, Gensler characterized U.S. securities laws in a way that brings to mind the wide nets that industrial fishing trawlers use to snare vast numbers of tuna on the open seas. And if you happen to be pondering a foray into the staking arena be warned, he said, because lending products are likely to fall under the purview of the Twin Towers of SEC authority: The 1933 Securities…