February 7: Crypto Summary
Bitcoin going nuclear. Crypto saving people from starving in Afghan.
gm to everyone dollar cost averaging.
That is the only way. LFG!
Markets
Here are today’s market moves:
Here's what you need to know:
Bitcoin is going nuclear
According to a United Nations report seen by Reuters, North Korea is funding its nuclear and ballistic missile programs through crypto.
But this isn’t your regular crypto purchased from crypto exchanges. They are from cyberattacks and stolen from cryptocurrency exchanges, says the UN.
Noticed all the recent scams? That crypto might be headed somewhere 👀
How Crypto is putting bread on the table for many Afghan users
Most services including Western Union, Swift have stopped working after Taliban took over the country. A local man started blogging along with his friend in 2019 and wanted to make money through it. They found a niche, domains were set and had only one last step to conquer: payments.
Banks in Afghanistan don’t support popular payment transfer companies like PayPal or Venmo. In comes crypto and saves the day.
Read the full story of how he did it.
ENS domain’s early founder got terminated over a tweet
Ethereum Name Service, a popular Web3 domain name service, has sacked its Director of Operations Brantly Millegan amid a controversy cause he tweeted something absurd in 2016.
In the Tweet, Millegan wrote “Homosexual acts are evil. Transgenderism doesn’t exist. Abortion is murder. Contraception is perversion. So is masturbation and porn.”
Nick Johnson, the founder and lead developer at ENS, announced that Millegan’s contract with True Names Limited, the company that funds ENS development had been terminated in a Monday tweet.
Moral of the story: Don’t tweet.
Polkadot consuming least amount of energy among other crypto
According to new research conducted by the Crypto Carbon Ratings Institute (CCRI), the interoperable blockchain platform uses less power than other popular crypto assets such as Bitcoin, Ethereum and Solana.
The institute found that DOT consumes just 6.6 times the electricity the average US household uses in a year, making it the least power-draining digital asset among the top chains.
This is not investment advice. DYOR.
‘Bitcoin Family’ immigrates to Portugal for its 0% tax on crypto
In 2017, a couple and their three children liquidated all of their property and hoarded on Bitcoin. Since then they have lived a pretty nomadic life and got popular in the crypto world as the 'bitcoin family'.
They have now decided to settle down in Portugal for its crypto tax benefits. “If you earn cryptocurrency by providing services in Portugal, you need to pay tax on those cryptocurrencies, but I don’t earn anything, at the moment, in Portugal. So for me, it’s 0% tax,” said Taihuttu.
The price of bitcoin was only around $900 in 2017, and in November last year, the price of bitcoin rose to its current all-time high of $69,000. The Taihuttu family has not disclosed the total amount of the cryptocurrency reserves they hold.
They aren’t very smart in announcing all this publicly 👀
Check this out
Want to get insights on the lastest upcoming mints, live mints and whales in an NFT project?
We spotted CryptoScores that gives such information. It’s a new project, so be careful. Their website is pretty clunky as well. They may have an update sometime later.
Frens, this is not financial advice. DYOR.
Did you hear?
BFF is new decentralized organization with a mission to help women and non-binary people get educated, connected, and financially rewarded in crypto and web3. They have an upcoming NFT drop in March.
Crypto lingo of the day
Gas Hands:
Inability to move ETH due to high gas fees.
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