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  • News - 22 May 2022, 6:30 am

    In recognition of Bitcoin pizza day, the first-ever real-world transaction using Bitcoin, Cointelegraph speaks with the crypto community about their historic BTC purchases. Happy Bitcoin Pizza Day! Before you dial for a Margherita to commemorate the world’s first real-world Bitcoin transaction, here’s a slice of trivia:What do a family holiday to Japan, a 50 Cent album, a steak dinner, and a framed cat photo all have in common? They were all paid for with Bitcoin (BTC) by members of the Cointelegraph Bitcoin community! And just like the Bitcoin pizzas that cost 10,000 BTC, which are now worth more than $300 million, the community’s Bitcoin purchases have also skyrocketed. Benjamin de Waal, the VP of Engineering at Bitcoin exchange Swan Bitcoin told Cointelegraph, “I spent 7 BTC on a family trip to Japan a few years back.” In today’s value, 7 BTC is worth well over $200,000 —  but Ben’s happy because his kids are happy:“It would have been worth a lot more now; but I don’t regret it at all. A good childhood full of adventure, fun, and learning is priceless.”Felix Crisan, the scammer vigilante, told Cointelegraph how he once spent 50 BTC (worth $1.5 million) developing a new software module for his company in 2015. Crisan added that in 2016:“​​Let’s not forget some almost 1BTC ‘spent’ betting who the next US president’s going to be.” […] Of course, I didn’t win.”That’s a $30,000 bet at BTC’s current market price.Jeffrey Albus, Editor at Cointelegraph, shared that he splashed out on a steak dinner…Read More

  • Bitcoin News - 22 May 2022, 6:00 am

    Sony, the global electronics giant, has announced it will take a more focused approach when it comes to metaverse experiences as part of its entertainment strategy. The company that owns the Playstation brand revealed that prior investments in Epic, makers of the Fortnite game, and Bungie, another gaming studio, are part of this new push. […]Read More

  • News - 22 May 2022, 5:18 am

    Not all cryptocurrencies are equal, and Bitcoin’s prior claim among decentralized digital assets makes it special. United States President Joe Biden’s executive order on digital assets has kickstarted an interagency mission to support financial innovation while protecting American consumers and interests. While many industry leaders welcome the constructive tone, some critics hope for a crackdown. We don’t blame them.Many cryptocurrency projects operate behind thin veils of decentralization. In public, they’re sold on the premise that they distribute power. Behind the curtains, leaders pull the strings. In the recent case of Wonderland, a serial scammer and felon directed a $1 billion treasury.Many projects secretly pay influencers to shill their tokens. The price pumps. Insiders dump. Naive investors lose money. Sometimes, the shillers are celebrities. And, sometimes, those celebrities leak the surprisingly low cost of their integrity.Related: Year of sponsorships: Celebrities who embraced crypto in 2021Hundreds of projects suffer technical vulnerabilities. Seemingly every week, hackers exploit hidden software bugs. The third-largest ever occurred in early February, with $326 million — gone. And then in late March, another $600 million — poof.Many cryptocurrencies are blatant scams — some, proudly pyramid-shaped. Market participants treat these as facts of life, with oft-used terms for exit scams (“rug pulls”) and pyramid-shaped projects (“Ponzis”). To most, cryptocurrencies look the same, like tomatoes pasted in Aisle 9 — only tasteless, useless, and more numerous. The cynical see the menu of cryptocurrencies as a proxy most-wanted list. Neither group is entirely wrong.Yet one item on the menu stands apart.…Read More

  • Bitcoin News - 22 May 2022, 4:30 am

    The Singapore High Court has granted a court injunction which stops or blocks the sale of a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) that one man claims was wrongfully taken away from him. NFT Used as Collateral A Singapore man has won a court injunction that blocks the sale or potential […]Read More

  • Bitcoin News - 22 May 2022, 3:00 am

    Chinese experts have called on leaders of BRICS (Brazil, Russia, India, China and South Africa) countries to consider countering the dollar, whose global hegemony is thought to be abusive. Still, the experts concede that any attempt to diminish the dollar’s dominance will take time. BRICS Countries’ Dependence on the US-Dominated Global Financial System […]Read More

  • News - 22 May 2022, 2:17 am

    Staking is complicated, but learning the truth behind these four myths will help to increase liquid staking mass adoption. Blockchains have relied on proof-of-work (PoW) validation since their inception. Yet the PoW consensus proved to be unsustainable with its high energy usage and its need for fast, powerful hardware creating high barriers to entry. That’s why blockchains are adopting proof-of-stake consensus algorithms (PoS), where those wanting to earn rewards don’t have to compete against other miners, but can simply stake part of their crypto for a chance to be chosen to be a validator — and reap the returns.Everyone who owns crypto on PoS blockchains must want to take advantage of the opportunities staking provides, right? Actually, according to our report, while 56% of those surveyed had staked before, many who hadn’t staked or wouldn’t stake again pointed toward the same hesitation: They don’t want their assets locked up in staking, not when those assets could be put to use elsewhere. This is why liquid staking provides the best of both worlds. It allows investors to stake their assets while also allowing them to use those assets in other projects during lock-up.Despite the fact that this innovation is able to lower barriers to staking, there’s still confusion about what liquid staking is and what it can offer to the crypto community. What follows are some of the misconceptions about liquid staking and what the truth is about this new opportunity.Related: The many layers of crypto staking in the DeFi ecosystem…Read More

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