March 15: Crypto Summary
The 'Merge' is happening and I am super stoked.
Friendly reminder: There is no top to Bitcoin because there is no bottom to fiat.
GM to everyone except fiat hodlers.
LFG
Markets
Here are today’s market moves:
Here's what you need to know:
ETH2.0 is getting closer with this successful test transaction
The much-anticipated ‘Merge’ on the Ethereum network is another step closer to becoming a reality after the final public testnet ‘Kiln’ launched to put it through its paces.
The Kiln testnet is the final public testing phase before the long-awaited Ethereum ‘Merge’ to ETH2.0 and the end of proof-of-work consensus.
Yesterday, the Ethereum Foundation urged network stakeholders to run tests using Kiln “to ensure a smooth transition on existing public testnets.”
Ethereum developer Tim Beiko confirmed that Kiln has gone live and the transaction was a success.
Why is this so important? Allow me to explain with some hopium👇
ETH issuance will drop by 90%
ETH will become deflationary with the burn
Ethereum energy use will drop by 99.9% with the merge and FUD about energy and environment will be gone.
No more miner sell pressure
Staking rewards goes from 5% to 10%+ 🤯
10M+ ETH locked up for months
This is like 3 BTC halvenings in 1 and the staking rewards will attract a lot of people. All of this will create a supply shock and will have a huge effect on price.
🧠 My take on ETH:
I believe Ethereum will eclipse Bitcoin in the long term. Ethereum is also a technology that people will be using in their daily lives without them even realizing they are using it. The user experience needs to be improved though.
It will be glorious. This is a once in a lifetime investment opportunity for me. But you DYOR.
Vitalik too sends a test transaction before sending a full amount
HE IS ONE OF US!
Sending crypto can be scary sometimes.
Now some pros lost that fear with time, but here you can see one of the biggest crypto masterminds Vitalik Buterin sending test transaction before sending a full amount of ETH, just like us!
This is also your reminder that no matter how many times you send coins or tokens to and from a wallet, that when sending large amounts (an amount you are most definitely not comfortable losing) you should always do a smaller test transaction.
Every few weeks we hear of someone making what seems like a simple mistake but winds up being very costly. ie.. the guy who lost his w.ETH worth over 100k.
If your unfamiliar do your research.
Always double check wallet addresses.
Hacker claims to own $7 billion in Bitcoin
Gummo, an anonymous black-hat hacker recently claimed that he owns more than $7 billion worth of Bitcoin, which is around 150,000 individual coins 🤯
He revealed it on this YouTube video with Soft White Underbelly.
According to Forbes world’s billionaire list of the richest in 2021, this would make the hacker the 369th richest person in the world 🔥
Check this out
Chris Cantino is a trusted source of crypto that I follow on Twitter.
For me, he is on a similar level to @punk6529 and shares a lot of good info on web3 and NFTs.
He has his own NFT community called Crypto Packaged Group and has now started a crypto community consultancy called Crypto Packaged Talent for helping big companies get onboarded to web3 by providing them with the right people.
His consultancy is hiring and it would be the right time to get in👇
If you do get it, please spread a word about CryptoBrew☕️
That would be helpful 😃
Did you hear?
$1 million clipart rock NFT accidentally sold for less than a cent.
A recent survey says 55% investors are reporting crypto on their taxes.
Crypto lingo of the day
Decentralization:
The principle of distributing power away from a central point. Blockchains are traditionally decentralized because they require majority approval from all users to operate and make changes, rather than a central authority such as a national bank.
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