Blockchain

Posts about Blockchain. Subscribe to my newsletter to make sure you don't miss anything.

Ouch!

With the stock market reacting to our tumultuous economic times, you may not have noticed that the crypto market has crashed. Not just Bitcoin and Ether, but the entire crypto market. Even for the most devout crypto hodlers, this past week (especially the last 24 hours) has tested their faith. Continue Reading →

Where Are Your NFTs?

NFTs
You just purchased your first NFT. Where is it? Is it sitting in your account on the marketplace you purchased it from? Do they have custody of your digital asset or do you? Did you transfer your NFT to your crypto wallet? If so, do you believe your new NFT is actually in your wallet? It isn't. That's not how this works. Here's what is really in your wallet. Continue Reading →

Elon Has the Money

According to the WSJ, a Saudi prince, Larry Ellison, and a bitcoin exchange are among a group of 19 investors who have committed more than $7 billion to back Elon Musk's bid for Twitter. Continue Reading →
According to an article in the WSJ, the sale of NFTs fell to a daily average of about 19,000 this past week, a 92% decline from a peak of about 225,000 in September, according to the data website NonFungible. Continue Reading →
Yuga Labs, the company behind the Bored Ape Yacht Club, sold 55,000 virtual plots of land in its upcoming metaverse, Otherside, for about $5,800 each. While the transactions were done in ApeCoin, the NFTs were minted on Ethereum, where gas fees for each mint ranged from 2.6 to 5 ETH ($6,500-$14,000) at the time of the transactions. By the time the virtual land deeds sold out, buyers paid a total of about $123 million in gas fees to send Yuga Labs about $320 million. Ouch! Continue Reading →
ETH
Ethereum is a few months away from its transition from Proof of Work (mining) to Proof of Stake (staking). You need 32 ETH (roughly $96,000) to operate a solo PoS node. If you don't have that much, you can join a PoS pool for a small service fee. Which raises the question: If you are planning to hodl (slang for "hold") your ETH, should you make the investment to become a solo PoS validator node, commit it to a staking pool, or completely ignore all of this and just hodl your ETH safely in a hardware wallet? Continue Reading →

Twitter & Telegram

Elon Musk has an option to purchase Twitter for $44 billion. For argument's sake, let's say Twitter has 300 million monthly active users (MAU). If so, he is paying approximately $147 per MAU. Telegram, on the other hand, has approximately 550 million MAUs. Using the same math, Telegram should be worth approximately $80 billion, but Twitter and Telegram are apples and oranges. Twitter is a publicly traded company with a traditional corporate form. Telegram is something completely different. Continue Reading →
Fidelity Investments, the largest retirement plan provider in the United States, plans to allow investors to allocate up to 20% of their 401(k) accounts to bitcoin. It's the first major retirement-plan provider to do so. Continue Reading →

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