gm believers in tokenomics.
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Markets
Here are today’s market moves:
Here's what you need to know:
Is Warren Buffett finally accepting crypto?
In 2018, Warren Buffett called Bitcoin “rat poison squared.” and repeatedly told his investors to stay away 🤣
Today, Berkshire Hathaway has invested over $1b in Bitcoin-friendly bank Nubank - the largest fintech bank in Brazil.
Although Nubank does not allow trading in cryptocurrencies, its investment unit, NuInvest, allows users to invest in crypto ETFs, according to the company website.
Now, Berkshire Hathaway (BRK) isn't a company to overlook the fact that Nubank has a subsidiary that invests in crypto.
After all, BRK is run by Warren Buffett, who is known as the Jesus of Investing. Or maybe Buffett's wife has finally convinced him to change his investment strategy.
Is Buffett really going to accept Bitcoin before he croaks?
Ethereum transaction fees are dropping hard
Simple Ether and ERC-20 wallet transfers are being included in blocks for a fraction of the cost seen during December and January. Here is a user swapping one asset to another, paying just 0.0064 ETH ($20.04) for the transaction fee. A similar transaction during March of last year cost a different user 0.04 ETH ($125.18), over six times as much as the Feb. 15 transaction.
So why is this happening?
EIP 1559, an update to the Ethereum ecosystem, had taken place in early August 2021. This update made every transaction require a set base fee to be included in a block. The base fees paid are sent to a burn address to counteract inflation.
Driving down transaction fees reduced the intensity of cost spikes during token launches and NFT mints, but also meant that fees could take a few weeks to fall back down. Transaction fees are low overall and has resulted in an increase in network activity.
Is Russia creating a mass adoption for Bitcoin?
The Russian Ministry is reportedly considering “energy tariffs” for bitcoin (and other cryptocurrency) miners, as well as taxing cryptocurrency-to-ruble conversions — as long as said facilities are constructed in particular regions.
The Ministry believes that bitcoin mining incentivises great increases in energy generation. If the tariffs for bitcoin are well incentivised, we might find miners migrating to The Motherland very soon.
The new tariffs by Russian Ministry now place pressure on Western countries (US, UK and EU) as they have been comparatively slow in making decisions based on Bitcoin and Bitcoin mining.
Furthermore, everyone wants to beat inflation. Countries keep finding ways to reduce it and Bitcoin could be their best hedge. This move could also lure miners to bring business to Russia which would result in economic stimulation in the form of infrastructure projects.
The NYSE is entering the metaverse 🤯
Yes you read that right.
The New York Stock Exchange (NYSE) has filed trademarks for NFTs and an NFT Marketplace. This would put NYSE as a direct competitor to other already established markets such as Opensea and Rarible.
Did you ever imagine that BAYC and CryptoPunks would one day be listed on the NYSE? 😉
Check this out
He clearly doesn't know what he's doing. At least his investment is stable.
Did you hear?
The NFT marketplace LooksRare confirmed that the core team has cashed out 10,500 WETH estimated to be worth $30 million. Faces backlash from community.
The hippest Ethereum wallet app, Rainbow, just raised more than $18 million.
Crypto lingo of the day
NGMI:
Not Gonna Make It! Popular phrase when someone doesn’t believe in crypto, spreads fake news and starts talking trash.
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