The week of 01/25 In a nutshell – Bitcoin and cryptocurrency news are in constant turmoil. There are times when important information gets lost in the daily message flow and you miss important points.
This format is intended to help. We look back at last week’s news on Crypto Weekly to keep you updated on the current cryptocurrency situation.
The local must
For the inevitable of this week, we find Thibaud, who looks back on the evolution of banks to the creation of Bitcoin and the emergence of Bitcoin banks.
The gold standard and its developments
Under the gold standard, banking institutions lending to companies wishing to take out loans had to hold sufficient amounts of gold in reserve to meet the withdrawal needs of their custodian customers. The issue of money was therefore naturally controlled by the scarcity of the underlying commodity: gold. A little later, in the 17th century, English bankers began generalizing a highly profitable practice of lending more gold than they had in reserve.
A few centuries later certain major problems arose in this system, which has been inherited to this day. Gold conversation camps were abandoned for companies that specialize in money creation and are now commonly referred to as « central banks ». One of the oldest such institutions is The Old Lady of Threadneedle Street, the Bank of England, which was founded in 1694 to aid government borrowing and later served as a commercial bank lender.
With a new power seized, states have endowed the central banks with a fundamentally irresistible power: manipulating the currency to fund major national programs without responding to corporate budgetary constraints.
The birth of a free currency
Over the past 10 years, the global monetary base, which is made up of the total amount of fiat currencies in circulation such as the euro, US dollar or yen, has grown significantly under the influence of easing programs such as quantitative easing and liquidity injections. These various programs were launched by governments concerned about economic recovery. Like an arsonist trying to put out the forest fire he started, these actions tend to lead to the problems he wants to solve.
With the appearance of the Genesis block on January 3, 2009, the Bitcoin protocol was a new discovery with the introduction of a fixed currency amount of 21 million units (« BTC »), which itself was divided into 100 million sub-units (« Satoshis » or « Satoshis ») ) can be subdivided into sats ”) for a total of 2.1 trillion sats in circulation. Bitcoin’s delivery schedule is therefore predictable with « counterfeit-proof production costs ». This a dozen-year-old project challenges the role of a central bank in money management and seeks to redefine the place of a commercial bank on the edge of the Bitcoin network.
Be sure to read the entire article for more information: Bitcoin Banking: Impossible Or … Inevitable?
▶ Aave explodes its ATH, the DeFi protocol cannot be stopped. DEXs, for their part, broke all records with a volume of $ 40 billion in January.
▶ The foundation funds of American universities rely on Bitcoin. A close source would have revealed that several funds like those from Yale or Harward have been buying BTC for at least a year.
▶ The Bank of England remains in existence and signs. For the governor, “today’s digital currencies are unsustainable” and will have no financial impact.
▶ Circle strengthens its connections to the banking world. So the company just unveiled a feature that allows USDC to be transferred directly to a bank account … and vice versa to instantly switch from dollars to DeFi Ethereum!
▶ Elon Musk makes his own new and ignites the crypto. The latter simply changed his Twitter bio to « #Bitcoin » and the price went up in flames by … + 20%. Soon Elon’s « Coins of the Day »? 😉
▶ New video from Rogzy showing us the difference between saving Bitcoin and trading!
📊 The 5 metrics of the week
➤ $ 10 million is the new amount that MicroStrategy has just invested in Bitcoin. These repeated investments in BTC have visibly pleased the company’s shareholders as the stock has risen + 350% since the third quarter of 2020.
➤ € 1,200 is the new record for the price of Ether earlier this week. The price has since fallen to around 1,100 euros.
➤ $ 638,400 is the amount donated by the Balancer community to a reimbursement program for Ethereum. Therefore, Balancer wants to react in its own way to the delusional costs currently incurred.
After a vote on BAL governance last weekend, the gas reimbursements from Balancer Exchange are now live! We are very excited to offer users the opportunity to test our improved sharing user interface without taking the full burden of network congestion. https://t.co/9BSE7DpYvA
➤ $ 90 billion is the exorbitant amount that the Coinbase platform holds and manages on behalf of its customers. A statistic that means a bright future for the company’s IPO … that won’t be long!
➤ 73,882 is the number of validators active in the Ethereum 2.0 blockchain. A total of 2.3 million ETH was paid into the deposit protection agreement.
✉️ The tweet of the week
The tweet of the week goes to Joseph Delong and his humorous tweet that aims to compare the balance of each individual’s wallet on Ethereum’s various test nets.
Far from seeing me in social networks, we are showing fictitious amounts that are generated for free in test networks.
I wish you a good week in the Journal du Coin! 🙂
What is the most profitable cryptocurrency?
Despite its great volatility, Bitcoin remains an essential asset in the cryptocurrency world as we know, in the end, that its trend is growing forever. 2. The Binance Coin or BNB: The Binance Coin was born from the Binance platform.
What are the best cryptocurrencies?
What are the best cryptocurrencies of the year?
- Bitcoin – cryptocurrency No. 1. …
- Ethereum – cryptocurrency No. 2. …
- Ripple – Cryptocurrency No. 3. …
- Bitcoin Cash – cryptocurrency No. 4. …
- Litecoin – cryptocurrency No. 5. …
- Cardano – cryptocurrency no.6 …
- NEO – cryptocurrency no.7 …
- 1- Go to the Alvexo online trading platform:
How does the value of a cryptocurrency increase?
The number of people using the currency that trust leads to more or fewer people using the currency, which of course also adds to the value of the asset. What defines the value of a cryptocurrency is therefore also its popularity.
Which currency should I buy right now?
The Best Currency Pairs – The Major:
- EURUSD (Euro – US Dollar)
- USDJPY (US dollar – Japanese yen)
- GBPUSD (British Pound – US Dollar)
- AUDUSD (Australian dollar – US dollar)
- USDCHF (US dollars – Swiss francs)
- USDCAD (US dollar – Canadian dollar)
Which crypto should be bought in 2020?
6 cryptocurrencies to buy for 2020 and beyond
- Bitcoin (BTC) First of all, I’m not going to be original, but rather efficient. …
- Basic Attention Token (BAT) The success of Basic Attention Token never fluctuates from month to month. …
- Enjin Coin (ENJ) …
- Binance Coin (BNB) …
- Nexo (NEXO) …
- Ethereum (ETH)
How to invest in Bitcoin in 2020
How do I invest in Bitcoin in 5 steps?
- Register with Bitcoin Trader using this link.
- Create an account on the broker platform.
- Fund your account.
- Select Bitcoin and click « Buy ».
- Open a Bitcoin trading position.
Where can you buy cryptocurrency?
B-TOP 5 of the best websites to buy cryptocurrency in France
- Buy cryptocurrency on Binance. …
- Buy Bitcoins, Ethereum and Litecoin on Coinbase. …
- Coinhouse or the place of home of Bitcoin. …
- Buy bitcoins on Bitit. …
- Buy cryptocurrencies from VirWox.
Why is the price of BTC falling?
According to those in the know, the depreciation of Bitcoin is associated with a more expensive dollar, which makes other investments less attractive. The gold price also fell on Monday due to the rising dollar. … Bitcoin’s value had doubled in less than a month.
Why invest in cryptocurrency?
Advantage: possibly less volatile than virtual currencies. Mining Bitcoins or other cryptocurrencies: If you learn how to validate transactions using your computer, you can receive compensation based on proof of your work.
Does Bitcoin Pay?
For its first known price in 2010, a bitcoin was worth less than a dollar. And in early 2017, it traded for around $ 1,000 before skyrocketing towards the end of the year, posting an annual profitability of 1.303%! … The price of a Bitcoin will rise from almost USD 20,000 to USD 13,500 in two weeks.
Why is BTC rising?
According to an expert consulted by Médias24, this phenomenon is due to an explosive demand after PayPal announced in October the integration of Bitcoin into its payment services and the growing interest of the shareholder. Professional investors for this market.
When will Bitcoin go up?
Another element that may have weighed on the balance sheet: Bitcoin’s « halving » (in jargon, this means that the mining premium will be cut in half). This event happened in 2009, 2012, 2016 and 2020. The next, probably in 2024.
Who Has the Most Bitcoin?
Satoshi Nakamoto The creator of Bitcoin, who hides behind the nickname Satoshi Nakamoto, remains the primary holder of Bitcoins. The number of bitcoins Nakamoto owns today is estimated at around 1.1 million.
What is the price of Bitcoin in January 2020?
|Bitcoin price in US dollars|