Kentucky is all set to become a hub for flourishing crypto-mining business as it attempts to woo crypto miners with two major bills now signed into law.

Kentucky Gov. Andy Beshear signed 29 more bills into law on the 25th of March. Two of the bills were pertaining to the cryptocurrency mining industry. This included House Bill 230 which is focused on offering crypto-asset mining firms tax breaks on their electricity bills. Senate Bill 255 focuses on incentives for cryptocurrency mining companies, provided that they meet a certain investment threshold of $1 million.

In short, the two legislative bills intend on bringing about clean energy use incentives as well as provides tax breaks to mining operations.

This comes at a time when states all over the country are taking serious measure to attract crypto businesses, especially in the wake of the ongoing bull season.

The proposition of the legislation had previously opined that the crypto-asset miners were in search of cost-efficient electricity rates and incentives to establish operations.

Both the bills in question which were signed by Beshear into law will be effective on the 1st of July.

Collectively, the main objective of these bills was to attract cryptocurrency mining firms to the state as Bitcoin, and the cryptocurrency market by extension gains traction. This move, in turn, is likely to create a massive potential of not just business revenue but also jobs to the communities of the commonwealth.

The latest development comes about a week after the legislature of the southeastern state in the US had cleared the two proposed laws. The tax incentives bill was passed by the Senate in a 29-7 vote on the 15th of March. On the other hand, the clean energy incentives bill passed both chambers of the state’s General Assembly.

It all started with General Assembly Representatives Steven Rudy and Chris Freeland’s bill that was introduced in January this year. In their 13-page bill to the General Assembly, the two Republican lawmakers  had earlier stated that Kentucky could potentially become a national leader if it were to leverage “low energy rates and abundant supply” and host energy-heavy operations and business such as crypto mining.

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There has been a clear scarcity of some clear points proposed by law for the sake of people to understand cryptocurrency in a better way. This stretches not only to the U.S but other parts of the world as well, but United States lawmakers have finally drafted a bill that will clear the crypto oriented regulations within the US, determining at what times cryptocurrency is security and which potential elements influence this decision.

This legislation is being called the “eliminate barriers to innovation act of 2021” how thoughtful of the lawmakers as this legislation will prove as the primary weapon against debunking the myths being created around cryptocurrency and paving the way towards a more compliant and bright future.

The law’s main objective is to bring jurisdiction on cryptocurrency to the US Securities and Commission (SEC) hands and to the CFTC. The SEC and CFTC both will have very definite roles, such as overseeing the digital assets and classifying them as security. The other one is in charge of the commodities. This bill will provide both commissions with the necessary infrastructure to draw both legal and regulatory elements around cryptocurrency within the US.The bill will take into effect within the next 90 days and will then form groups consisting of the industry experts from both the SEC and CFTC, along with the non-governmental representatives from various financial sectors and other experts from the crypto world.

This whole group will drum up the current regulations in action and how these either jeopardize or assist the content of this new legislation, and what can be done to improve the crypto market’s success factor while remaining in strict confines of this new legislation. The report would have to be prepared and submitted within a year. Not only this, but further recommendations and advice will be issued regarding the improvement of the primary and secondary digital assets market’s integrity. This finally concludes the long wait and a big void that was needed to be filled with the legislation of this very stature in the US, and hopefully, other countries will also give this matter more serious thought.

Young minds in the U.S. state of Georgia will soon begin to learn about digital currencies in high school. This is after the state’s House of Representatives passed a bill that calls for these schools to teach the students about financial literacy, with digital currencies being one of the areas of interest.

The bill calls for state education officials to develop the program in pursuit of “quality basic education.” It states, “The State Board of Education shall prescribe a program of study in personal financial literacy to be completed by students during high school.” Each local education board will have to implement the minimum program of study beginning in the 2021-2022 year.

It will cover 16 different areas, all pertinent to the students’ financial literacy. One of these is cryptocurrency, with the others including local tax assessments, investments such as stocks and bonds, simple contracts, state and federal laws concerning finance and money management such as saving, credit and managing debt.

The bill sailed through the lower chamber by a vote of 169-2, an indication of just how significant digital currencies, and other financial literacy matters, have become in recent times. It has now gone to the state’s Senate for further consideration.

Georgia joins a rising number of jurisdictions that are imparting digital currency and blockchain knowledge on young minds, preparing them for the future of payments. In 2020, Colombia’s capital of Bogota launched free online blockchain lessons. As CoinGeek reported, the courses seek to give the residents a better understanding of the technology and spur innovation in the South American country.

In France, the government introduced digital currency education courses to the country’s high school curriculum. The courses imparted basic knowledge about digital currencies, including Bitcoin’s future as the global payments network. It also looked at digital currencies vis-à-vis the fiat currency system, including why such systems have lost the trust of most citizens.

Aside from governments, many private institutions have taken up the responsibility of availing information about Bitcoin to the world. Winklevoss twins-owned Gemini exchange recently launched Cryptopedia, an open-access education portal.

One of the best portals to learn about Bitcoin is the Bitcoin SV Academy. The platform, which launched in December, offers meaningful, comprehensive and high-quality content that enables its users to easily learn about Bitcoin, whether they are experienced in the field or novices. The Bitcoin Association has also partnered with Saxion University of Applied Sciences in the Netherlands to launch the first Bitcoin SV-focused massive open online course (MOOC), offering courses and all assessments free of charge to anyone interested in learning about Bitcoin.

New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.

As you know, Robert Toru Kiyosaki, author of the bestseller “Rich Dad Poor Dad”, has been criticizing the Fed’s behavior since last year, claiming that the dollar and the economy are dying.

This concern has been caused mainly by the artificial pushing of so-called false dollars to save the US economy, which can reduce the belief and real value of the currency in this way.

R. Kiyosaki is these days again concerned about the fact that the Government passes a $ 1.9 trillion stimulus bill (ie free money) that can deepen poverty in some social classes, and recommends Bitcoin.

However, this is not the first time that R. Kiyosaki has recommended buying Bitcoin, last year in May he even published his forecast that BTC will reach $ 75,000 within 3 years. The well-known motivator almost hit this prediction after less than a year, when three days ago bitcoin reached its ATH of $ 61,683.86 in value.

At the time of publishing this price prediction, Bitcoin was trading for $ 9,800.

Read also: The Co-Founder of ARK created the petition proposing that the Banque de France be able to buy cryptocurrencies

Visa said Monday that it will allow the use of cryptocurrency USD Coin to settle up transactions in its payment network, the latest indication of the growing acceptance of digital currencies by the mainstream financial industry.

Visa has launched the pilot program with payment and crypto platform Crypto.com, and the company said it plans to offer the option to more partners later this year.

“We’ve seen record-breaking growth in our business and the broader crypto ecosystem over the last year,” said Kris Marszalek, co-founder and chief executive officer of Crypto.com. “To continue accelerating the world’s transition to cryptocurrency, we need partners who understand the opportunity and the tools that will help us get to market faster and more efficiently. Having been a Visa partner for several years, we’re excited to deepen that relationship through our global agreement and to pioneer an exciting world-first in stablecoin payments.”

According to Visa, if a customer chooses to use a Crypto.com Visa card to make a purchase, the digital currency held in a cryptocurrency wallet needs to be converted into traditional money.

The company explained how transactions work, noting that the cryptocurrency wallet will deposit traditional fiat currency in a bank account, which will be wired to Visa at the end of the day to settle any transactions, adding cost and complexity for businesses.

Visa’s latest step, which will use the ethereum blockchain, negates the need to convert digital coin into traditional money in order for the transaction to be settled, the firm said.

Visa said it has partnered with digital asset bank Anchorage and completed the first transaction this month with Crypto.com sending USDC to Visa’s Ethereum address at Anchorage.

Visa’s move comes as major financial firms, such as Mastercard, BlackRock and BNY Mellon, have also accepted digital coins, which has caused some to predict that cryptocurrencies will become a regular part of investment portfolios.

Last week, Tesla boss Elon Musk said customers can buy his company’s electric vehicles with bitcoin, marking a huge step forward for crytocurrency’s use in mainstream commerce.

The Twitter CEO announced on May 21 that he would be giving $5 million to Humanity Forward, a UBI-proponent established by Andrew Yang. 4781 Total views 109 Total shares Listen to article 0:00 News Jack Dorsey, CEO of Twitter and mobile-payment platform Square, is donating $5 million to Humanity Forward, a group launched by , as part of both entrepreneurs’ efforts to establish universal basic income (UBI) for Americans. Dorsey announced the plan on Yang’s podcast, Yang Speaks, on May 21, while discussing the future of technology. Dorsey told Yang that UBI was “long overdue,” saying “the only way that we can change policy is by experimenting and showing case studies of why this works.” In a , Yang said would use Dorsey’s donation to distribute $250 cash grants to thousands of people who have experienced financial hardships during the current crisis facing the United States — losing their jobs, and being unable to pay bills.  Though the type of UBI proposed by Yang during his failed presidential run is considered a long-term strategy for all Americans, it resembles the rollout of $1,200 one-time stimulus payments issued by the federal government to assist businesses and individuals affected by the pandemic shutdowns.  For many Americans, the cash was deposited into their bank accounts in April, while others in the U.S. and living abroad saw physical checks arriving in May. Four million people will soon receive prepaid debit cards through the mail.  Yet many issues with current models remain as people report they are unable to confirm the status of their payment on the IRS website, or just haven’t received checks. Yang has already proven he is in addition to his central UBI platform. Humanity Forward has given away nearly $2 million to help those reeling from COVID-19.  Yet other groups seem to be the ones leading the charge when it comes to a blockchain-based system for UBI to be delivered to every American securely and quickly.  Cointelegraph that the nonprofit initiative known as GoodDollar launched a digital UBI wallet at the beginning of May to start delivering capital utilizing blockchain technology.  Nonprofit Hedge for Humanity, the team behind the cryptocurrency Manna, is currently for which any asset — cash, stocks, bonds or even crypto — could be used to deliver basic income to those in need. The group will start a raffle that will allow people to sign up for the chance to win a one-year UBI paid out monthly as $100 worth of Bitcoin (), Ethereum () or Dai (DAI). Loading Are you a journalist or an editor? Join us: career@cointelegraph.com Language Extensions: Cointelegraph covers fintech, blockchain and Bitcoin bringing you the latest news and analyses on the future of money. © Cointelegraph 2013 - 2020

Your daily snapshot from the OnChainFX markets dashboard.THIS WEEK IS THE LAST WEEK you can subscribe to UO for just $1 / day.We’re ramping up subscriber perks in anticipation of our Q2 market intelligence beta. Starting 3/25, rates go up to $699 / year and $75 / month to access our:Daily email access to our team’s top insights from the crypto marketsWeekly subscriber-only analyst calls with our research team200+ community analyst Discord group where you can join the daily conversationEarly beta access! The professional charting / dashboarding tools you’ve neededThis week only, we’re sharing our subscribers-only briefs with you to try before you buy. Like what you see? Democratic Presidential candidate Andrew Yang recently got me thinking about what sectors of the economy would get a boost if his plan for a $1000/mo “Freedom Dividend” (i.e. Universal Basic Income) for every American over the age of 18 were to get implemented. I conducted a very scientific poll of the crypto-community on how much of that $3T/year might flow into crypto:My followers (almost all crypto folks) were unsurprisingly bullish on their assessments. Maybe the more interesting question is: “How much would UBI inflows move total crypto marketcap”?New entrants to the crypto-community (or finance in general) might think that if $10B were used to buy bitcoin, then bitcoin’s marketcap might also go up by $10B. Traders, though, will quickly tell you this is almost never the case, at all, in any market, ever. Here’s an example to illustrate…Say the current price of some asset, YangCoin (YGC), is $10.00, and there are 1 million YGC in existence. The marketcap, price times supply, is $10 million. Now someone places an order to sell 5 YGC for $10.10, and I decide to buy it. It costs me $10.10 * 5 = $50.50 to buy that order, and now the last price quote is $10.10.Marketcap now reads as $10.10 * 1,000,000 = $10,100,000. I just spent fifty bucks to increase marketcap by a hundred grand! (TBI Note: This is also why many crypto folks say “marketcap” is bullshit as currently defined, and that “liquidity” is what actually matters….keep your eyes on OnChainFX for new metrics dealing with this soon.)Trading prices and marketcaps are often calculated in ways that smooths these extreme effects, but you get the idea: every incremental dollar invested will usually have a much bigger effect on marketcap than $1. This has been an open question that analysts have tried to tackle at various times over the years. It’s impossible to tell exactly (as you’d have to have perfect knowledge of all exchange and mining activity ever), but there are reasonable ways to estimate it. For example, in late 2017, Placeholder General Partner Chris Burniske used some basic assumptions and polls to estimate the number of new exchange users over a certain period, as well as how much crypto they tended to buy. He showed that new money yielded an “inflow-multiplier” effect of anywhere between 2x and 25x. That is, every dollar used to buy a cryptoasset contributed between $2 and $25 to total marketcap over the period he reviewed.From a later post in 2018 that addressed this from the opposite perspective (net outflows due to tax payments), Chris and co-author Jonathan Cheesman wrote:Historically, the fiat amplifier has been stubbornly hard to pinpoint given the fragmentation of fiat onramps, and lack of standardization around exchange reporting. As shown above, however, this tax crisis gives us an opportunity to quantify a large, specific flow and examine the fiat amplifier effect. And in crypto we’ve learned to never let a good crisis go to waste[…]Turning to the current bear market, we can divide the loss in network value thus far in 2018 by the estimated tax liability outflow, to define a maximum fiat amplifier. Dividing the $590bn drop from early January highs to present, by our estimate of $14bn net outflows, yields a maximum fiat amplifier of 42x. If instead we use the more aggressive $29bn estimate of outflows, then the maximum fiat amplifier drops to 20x. It is important to recognize these amplifiers represent the maximum, as if net outflows have been greater due to FUD, then that would dampen this ratio by increasing the denominator.Again, we’re looking at potentially double-digit multipliers. Goes to show you how little it would take (in institutional investment terms) to spark a new bull run. How about a little more very-scientific twitter polling?The crowd pegs the range at 4x-20x, which dovetails nicely with the estimates above. This is a huge range by financial standards, but like many things in crypto, just getting to a somewhat justifiable ballpark range means you’re probably way ahead of the pack.Now, for fun, let’s go back to our original question: how would President Yang’s $1000/month “Freedom Dividend” - some $3 trillion per year - impact crypto markets?If we neutered crypto-twitter’s bullish assessment, and assumed just 1% of UBI went to crypto (I know many of us would be auto-exchanging 100% of this garbage fiat), and assumed the multiplier was 10x, we’d see $30 billion per year in net new inflows with a $300 billion increase in marketcap.That’s 3x today’s market size, and would get us back to levels not seen since Feb 2018.Maybe it’s not institutional money, ICO FOMO, or a global macro event that triggers the Next Crypto Bull Market™ after all. Maybe it’s “free” money that actually flows to people vs. banks.P.S. Spread the love. Tweet at Messari for requests, feedback, comments, or questions.Content and thoughts from around the web as summarized by the Messari team.Few things are more stressful than cryptocurrency tax filings, and the questions taxpayer have are nearly as numerous as the advice other professionals are willing to offer. But a lot of that advice needs to be taken with a proverbial grain of salt, explains Katya Fisher. As she addresses some specific advice she takes exception to published by a digital asset financial firm, she more broadly explains that not everything you read about taxes should be accepted as true. Ultimately, she advises to be sure to “talk to an experienced advisor” about crypto tax questions because bad advice can make something already complicated and frustrating into something exponentially more painful. (share or read more)Understanding the differences between protocols, applications, and the financial tools that can be leveraged to incentive participation and user growth is critical to comprehending why certain products create native tokens, make certain design decisions, and build atop a given platform. Will Warren explains and differentiates these building blocks to give observers and investors a better idea of how to categorize and value different projects building with "smart contracts", specifically on Ethereum, because current terminology can be confusing and ambiguous and needs improvement. Ultimately, Warren wants to communicate that "app coins" and "protocol tokens" are two completely separate classes of digital assets with different use cases and unique value propositions. (share or read more)📆 Coinbase has changed its exchange structure features to increase liquidity, price discovery, and price movement smoothness. Five total updates were made including changing the fee structure, updating order maximums, and turning off stop market orders. The new rules will go into effect March 22nd. (share or read more)👩‍⚖️ Law firm Stewart McKelvey has withdrawal from the QuadrigaCX case being heard by the Nova Scotia Supreme Court. Ernst & Young Inc., the court appointed monitor, had expressed concern over possible conflict of interest, although no information was disclosed. The firm will continue to represent the estate of deceased CEO Gerald Cotten and his wife, Jennifer Robertson. (share or read more)🚀 Donut, a startup addressing mass tokenization, has finished a $1.8 million seeding round supported by Redalpine and TinyVC. The project, which did not exist ten months ago, is building systems and applications for saving and investing in the new token economy. Donut is using the funds to expand its team and launch its 'Donut Test Kitchen' this summer. (share or read more)👩‍💻 Six banks have signed letters of intent to join IBM's World Wire, a stablecoin backed remittance and foreign exchange system run on the Stellar Lumens ($XLM) public blockchain. World Wire is still awaiting regulatory approval in many places, such as the U.S. in which IMB expects a late 2019 endpoint launch. IBM is also testing its 'pay-as-you-go' revenue model to increase profitability with the service. (share or read more)🇮🇱 An Israeli court has blocked Union Bank of Israel from closing an account linked to cryptocurrency mining firm Israminers Ltd. The judge ruled that the closure was unreasonable based on occupation of the depositor alone. Forced closure based on money laundering concerns was deemed permissible. (share or read more)💭 Over the last year, the number of blockchain-related lobbyists has tripled in Washington D.C. According to disclosures, only 12 blockchain-related firms were lobbying in Q4 2017 while Q4 2018 had 33. Those familiar with the scene believe the chief cause is lack of regulatory clarity regarding the SEC's securities laws. (share or read more)Send me the link, your twitter handle and your best imitation compression algorithm write up. If I like it, I’ll include your bit next issue (with attribution).Should your colleagues read daily? We now offer discounts for corporate access. Email us, and we’ll onboard your whole team.

As our good friend Lyn points out, there is a growing chorus of Bitcoin haters coming out of the woodwork to proclaim that the US Federal Government is going to ban Bitcoin before it ever threatens the dollar's status as global reserve currency. This is a real cute line of thinking considering the fact that Bitcoin has already reached a tipping point in terms of global adoption and proliferation of full node software and cultural acceptance in the mainstream. At this point, the worst the US Government could do in regards to Bitcoin is cut off its nose to spite its face by attempting to prevent US citizens from purchasing, holding, using, and building on Bitcoin. If the Federal Government were to attempt to do this it would come with extremely high opportunity costs. This type of action would 1.) make millions of American citizens and many large corporations criminals over night, 2.) force a percentage of these forward looking and innovative individuals and companies to seek safe harbor in more bitcoin-friendly jurisdictions, and 3.) prevent the US from being a leader in terms of ushering in and leveraging one of the most revolutionary technologies humanity has ever come into contact with. You know what they say, "If you come at the King, you best not miss." And at this point, it is logistically impossible for the US Government to come at King Corn without missing terribly. The costs are too damn high! Another very important thing that none of these lazy detractors ever seem to think about when throwing out this line of FUD is that America is a Republic made up of states. Each with different laws and incentives at the local level. If 2020 and the reaction to COVID has taught us anything, it's that there has been a very encouraging reversion to states' rights and allowing individual states to make decisions for themselves. This will be no different with Bitcoin adoption. In fact, we are already seeing states, and even individual cities, begin to compete for Bitcoin talent. Here is a Bill that passed the Kentucky state legislator just last week:

House Bill 230 is a bill that directly targets bitcoin miners to come do business in the state of Kentucky by waiving the sales tax on electricity used to mine bitcoin up to a certain point. This is an incredibly beautiful thing to see. Don't look now haters, but there is already a competition heating up at the state and local level to court bitcoiners. Wyoming has led the way at the state level by setting up laws that make it very favorable for bitcoin companies to set up shop and do business. At the city level, we're seeing Miami hit the recruiting trail hard as Mayor Francis Suarez is actively courting bitcoiners and bitcoin focused businesses to set up shop in the city. And now we're seeing states like Kentucky and North Dakota (has a similar bill to House Bill 230 making its way through the state legislator) enter the fray. We've also seen the opposite approach taken from states like New York who have created a regulatory compliance hurdle that is too high for most businesses to overcome, so they are actively avoiding doing business in the state while servicing Americans in every other state. New York is missing out on significant revenue and talent by being so boneheaded with their Bitlicense. As more states and cities join fray with the Wyomings, Kentuckys, North Dakota, and Miamis of the US, states like New York will be made to look like fools as they actively thwarted off the potential for innovators to build within their borders. Over the next few years, as the forward looking states in our union begin to reap material benefits from the bitcoin businesses domiciling in their borders, it will become even harder for the Federal government to claw back the progress that has been made by banning bitcoin in the US. Especially in states with abundant stranded/wasted energy resources that begin to be turned into significant revenue via bitcoin mining. The Biden Administration's ban on fracking on Federal lands is forcing the hand of states like Wyoming, who are now going to NEED to turn to bitcoin mining off stranded gas assets to fund things like education that were formerly funded via tax revenue from oil sales. The ability for bitcoin mining to show help fill this gap is real and it will be realized. Once the potential of this revenue stream is fully grasped, it will be nearly impossible to rip it away from sovereign states. Heck, if bitcoin keeps doing what it has done over the last 12 years, states could actively tell the Federal government to fuck off because they won't actually need the Federal funding that gets dangled as a bargaining chip. Our friend Luke Gromen gets it:

Luke is thinking at the national scale, but there is no reason why this same idea cannot be applied at a more local level as well. If sovereign states are willing to put some skin in the game by funding some of the infrastructure build out for mining operations, they can leverage their stranded/wasted scarce resources to produce the scarcest good the world has ever seen, bitcoin, and a portion of those proceeds can be used to fund education, healthcare, infrastructure build outs and many other programs within their own borders. It sounds crazy and this term is anathema in the Bitcoin space, but you could build a quasi-UBI system at the local level. The only difference here is that the state would have skin in the game and funding this with a truly sound monetary good instead of printing money out of thin air and airdropping it on citizens in hopes that it stokes growth or maintains stasis without devaluing the individual monetary units. The MMTers have it completely ass backwards and the bitcoiners have it all right. You can quote your Uncle Marty on that. It seems crazy at the moment, but it is the god damn truth. At this very moment, the Federal government can certainly attempt to ban Bitcoin, but it will have dire consequences in the form of extremely high opportunity costs. In a couple of years, once mining and business infrastructure has been built out in earnest, it will be politically untenable and considered violence against sovereign states.

Final thought... Lower back took the brunt of the stair fall. Hoping to be back in the gym tomorrow.

For would-be U.S. lawmaker Jonathan Herzog, financial exclusion isn’t just a talking point, it’s lived experience. When launching his congressional run, he said, Herzog went to Bank of America and Citibank and tried to open a campaign checking account, but was denied. Herzog saw it as an example of the ways centralized institutions can hold power over people, even someone like him who is privileged.  That’s in part why he’s stumping for open, permissionless financial systems as part of his campaign. “There’s acute urgency to ensure that Bitcoin and cryptocurrency have mass adoption and have a regulatory framework that enables their innovation in New York and in the United States,” Herzog said. An alum of the Andrew Yang presidential campaign and a legal advocate, Herzog is running for Congress in NY-10, which encompasses the West Side of Manhattan and South Brooklyn. It’s a longshot, with the 25-year-old currently against incumbent Jerry Nadler, who has occupied the seat for 28 years, for the Democratic nomination. The primary is scheduled June 23.  For a politician, Herzog appears to know quite a bit about Bitcoin, even casually dropping a reference to the cryptocurrency’s recent, once-in-four-years in an interview this week.  Herzog spoke to CoinDesk by phone from his campaign’s de facto headquarters near Battery Park Square in lower Manhattan. Looking out his window at the rebuilt One World Trade Center (better known as the Freedom Tower), he explained why he thinks about Bitcoin through a civil rights framework and why he sees a pressing need for a universal basic income (UBI), a signature issue for Herzog’s former boss Yang.  And despite his party alignment, he minced no words about the impact of the state’s BitLicense, written by a fellow Democrat, former Department of Financial Services superintendent , in the administration of Gov. Andrew Cuomo.  This conversation has been edited for length and clarity.  Benjamin Powers: So you were working on the Yang campaign, and now you’re running for office yourself. Tell me more about that trajectory.  Jonathan Herzog: I’m running for congress in New York 10th District and I am a civil rights organizer and legal advocate. I’ve spent my time really invested in movements that are combating dark money and politics, combating poverty and hate and most recently joining the founding team that built Andrew Yang’s 2020 presidential campaign. I joined as the sixth hire, helped get , helped him qualify for the DNC debates, and really bring this then-unknown entrepreneur to become the internet candidate, and a top contender for the nomination.  The urgency of the issues at the time was immense. Andrew was calling out the fact that we were going through the fourth industrial revolution and that we had automated away millions of the most common jobs. He was fighting for a set of solutions like a universal basic income, data dignity, including a data bill of rights and data property rights, and public financing of elections. I said “holy shit, we have to do all we can to make sure this guy is our next president.” And right now we’re in the midst of this global pandemic where more than 100,000 Americans have died and one in five of those are New Yorkers. More than 40 million people are unemployed and 40% of those jobs are not going to return. I’m running because we need to wake up and we need new representatives who have 21st century solutions to these 21st century crises. And we don’t have the time to delay. See also: BP: What do you think about the viability of UBI, particularly after COVID-19? Should some form of a be pursued to give us the infrastructure to help distribute money to American’s quickly in a crisis? JH: Yes, and yes, in short. But in long form, what’s most stark to me is that even though it might seem in this moment that a universal basic income or recurring direct cash relief, at least during the pandemic, seems an inevitable thing that we have to do, the reality is there is nothing inevitable about it. We’ve entered a new Great Depression. We can’t allow tens of millions to fall by the wayside, especially with what’s happening around police brutality and riots. There’s this saying that it’s only in times of crisis where ideas that seem politically impossible, can become inevitable. But only if they’ve been brought to the fore in that moment in time, and that to me was why the work on the campaign in particular, and building this movement was so critical.  If you look at it now, from members of the Trump administration to Republican Congresspeople, from the far left to the far right, there is a sense that direct cash relief has to be part of the solution. But Congress has been on recess and when they returned to session, the two bills passed by the House only included a tiny fraction of the multi-trillion dollar bailout as in a single cash payment to people. Some people have to wait months for the processing to go through the pipes of the federal government and to get a paper check mailed to them, if it even reaches them. This crisis has only underpinned and accelerated the urgency and need of universal basic income, but also the need for the internet of money, for a decentralized, blockchain-enabled, Bitcoin/crypto solution.  Look at the history of governments and societies amid depressions and the historic devaluation of currencies. In some cases, authoritarian regimes place restrictions on capital flows and enable repression. There’s acute urgency to ensure that Bitcoin and cryptocurrency have mass adoption and have a regulatory framework that enables their innovation in New York and in the United States. If you look at where the halving block was mined,. We need to have the computing resources and the federal investment to ensure that we can compete at the scale and scope in this kind of .  I view cryptocurrency as part of the vanguard of this era's civil rights and civil liberties. BP: What sort of regulations or guidelines would you try to reform in a meaningful way when it comes to having a more tolerant framework for cryptocurrencies?  JH: One example is , which has the nation’s most supportive crypto framework. The partnerships that led to that is exactly the kind we need at the federal level. Because this hodgepodge of regulations right now is the Wild West and it’s unsustainable. What it results in is innovation and investment happening offshore and unregulated. I think bringing , , and those who’ve been in the trenches to the table is needed at a federal level. Look at the example here in New York. We essentially ensured that crypto innovation would , which is so backwards. And we’re talking about a city and district where one in six people before COVID-19 lived in poverty and couldn’t meet their basic needs, even though median income is over $90,000, and the most common profession is working in financial services.  Bitcoin is part and parcel of civil rights fights to bank the unbanked and to offer a real decentralized alternative to the fact that even before COVID-19 nearly half of all Americans couldn’t afford an unexpected $500 bill. The federal government has yet to even define a taxonomy of how Bitcoin and cryptocurrencies should be regulated. And that incoherence certainly does not help with innovation and investment in an extremely important and increasingly necessary domain.  See also: Yang 2020 and the Search for the Next Crypto Candidate BP: How viable is blockchain and the systems that it enables such as cryptocurrencies as a pillar of a candidate’s platform more generally? JH: It’s not only viable, it’s going to become increasingly essential. Frankly, I’m a fairly new entrant into the crypto space. In the context of running in the 10th district, it can be an asset. If you look at the numbers in the 10th district there are tens of thousands of people here who are either directly involved or interested in cryptocurrency. And certainly there are the political buzzwords and one liners that can be used to denigrate it, but that’s why I think speaking about cryptocurrency and bitcoin through the lens of what the Upper West Side community talks about, which is civil rights, is important. I view cryptocurrency as part of the vanguard of this era’s civil rights and civil liberties. I think not only is it something that is politically viable but increasingly so as more and more people get exposed to the power and importance of cryptocurrency they’ll see it’s a necessary part of any political platform. BP: Could you explain that framing of cryptocurrencies within a civil rights context further? JH: Absolutely. So one example is the 10th district has the largest LGBTQ population in the country. I was learning about the as an example of decentralized identity verification, particularly in countries where homosexuality and gender variance is criminalized. What their LGBT wallet offers is an alternative to sidestep the repressive criminalization in the still 70 UN member states that criminalize being gay. And those punishments can range from capital punishment to fines, to jail time and life imprisonment.  And fundamental access to capital is the civil rights fight of this era. Before Martin Luther King, Jr. was assassinated, he was fighting for a guaranteed minimum income, not for some, but for all. And what the LGBT Foundation, for example has done is put HIV self-tests on the blockchain. One of the main healthcare issues is people not even knowing their status, with 2 million people each year becoming infected. Blockchain-integrated HIV testing can enable traceability, transparency, and scalability. This is just one example of how communities that have been marginalized and disenfranchised, even right here in New York City, can move forward. That is part of how we bridge the crypto community with the sort of establishment voter who may have a particular preconceived notion of what cryptocurrencies mean. BitLicenseBitcoinAndrew YangElection2020PostTrustElectionJonathan HerzogCivil rightsDisclosureThe leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

A new bill recorded for introduction in Parliament pursues to bar all private cryptocurrencies in India. It comes in a year later the Supreme Court put down a Reserve Bank of India ban on crypto-related costs. Mint interprets what the bill means for crypto investors.

How does fiat money link to crypto?

It is sensible to document gifts from relatives through a gift deed.

Traditional currency has continued in paper or metal methods, such as notes and coins, or automated form in account records made by banks. Cryptocurrency is also a system of electronic money. The alteration is that the high of cryptocurrency has sustained simultaneously by thousands of computers instead of a centralized entity such as a bank.

Therefore, the record of cryptocurrency can’t be tampered with by any individual or authority. Cryptocurrencies such as bitcoin also incline to have partial supply. It has upturned its price in the face of big money printing by central banks around the world following the covid-19 pandemic.

Does India contemplate crypto as a legitimate currency?

In 2018, the Reserve Bank of India banned banks from dealing out payments connected to cryptocurrency. This ban was overturned by the Supreme Court in March 2020, as volatile of the freedom of commercial and profession under Article 19(1)(g) of the Constitution. Later then, the cryptocurrency sector has functioned in a legal vacuum in India.

What does the government crypto bill suggest?

The bill registered by the government, for overview in the Parliament, pursues to ban all private cryptocurrencies and lay the groundwork for an official digital currency. Such official currencies are being expected by numerous central banks around the world, counting China.

Cryptocurrency professionals have debated that cryptocurrencies such as Bitcoin and ether work on public ledgers and therefore, cannot be called ‘private’ cryptocurrencies. The full provisions of the bill have not yet been unrestricted to the public.

Should you trade your cryptocurrency?

The whole legislation will offer more clearness on whether you would sell your cryptocurrency. The bill, yet, mentions that sure exceptions may be made to preserve the primary tech of cryptos (blockchain). Not all bills presented in the Parliament have accepted in the same session. The bill could be raised to a panel or deferred to a later session. Previous investments in cryptos cannot be forbidden because of Article 20 (1) of the Constitution, which bans the state from passing reviewing criminal laws.

Read more at – ld-issue-of-crypto-bill-for-bitcoin-investors

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https://cryptobusinessworld.com

Basic Income, as explained in our previous UBI article, has significant potential to decrease inequality. However, there are several issues: it is expensive, and it is difficult to do a pilot project due to bureaucracy, which only exacerbates the problem of lack of definitive results. Thankfully, several projects across the world have started to leverage Blockchain technology to try and make basic income a reality. In this article we will present a number of these Blockchain models. While most of the projects presented here are (very) early stage, each has an interesting model of blockchain-based basic income system. Greshm is a basic income project that provides a stablecoin Greshm (XGD) (what are stablecoins?) that is backed by USD 1:1 (you can read about asset-backed and other types of stablecoins here). The project is also prepared to nudge people to use the tokens instead of ‘hodling’ them. In order to disincentivize holding coins, there is a rule that users must wait 30 days (maturity period may be subject to change) before withdrawing dollars from their Greshm account – it takes 30 days for XGD to mature into USD. Once a Greshm coin is spent, its 30-day maturity clock resets. Therefore, the more coins are spent, the less USD reserves will be used. Users will receive Greshm’s coins continuously, so you can actually stare at your balance and watch it grow in real time. The project, just as most of the others that will be mentioned here, is in its early stages. Some information may change (for example, the 30-day term is not fixed. They plan to gradually increase it over time). Other details are still being worked out. For now, legal support and funding are needed to officially form the organisation. But despite the fact that they are at the start of their journey, they already have a merchant partner. If you’re looking for excellent content on Basic Income, I strongly recommend you to check our Greshm’s blog posts, Alex Howlett writes great articles related to the topic of Basic Income, its current issues, and potential solutions. Circles aims to be blockchain’s native UBI money system, complementary to contemporary fiat. The system has built-in resistance to Sybil attacks. And although it is meant to grow in a grassroots fashion, it allows for a governance system to be built on top of it. In order to discourage holding the coins, Circles has an inbuilt inflation of 5% per year. Upon joining, via smart contracts you receive your own unique, personalised cryptocurrency – a Personal Currency. Each personal currency mints new coins at the same time and rate, and it is the only way of creating new coins. As exemplified below, new coins are only awarded to the owner of each personal currency. Minting of new Personal Currencies in the Circles system, source: Circles’ Github Circles has an interesting system of trust. Users tell the system whether they trust a given personal currency (i.e. they consider it as “real money”). So it us up to individual users to decide which Personal Currencies they trust and consider on par with their own. You can then trade your trusted currency to another trusted currency with a 1:1 exchange rate. Requiring a proof of trust from another user also constitutes the system’s native Sybil resistance. This also means that if you’re a new user, you might need to reach out to your friends and family in order to form first connections. When you want to send money in Circles, the system looks for a chain of trust between you and the recipient. An example of a multi-hop chains of trust in the Circles system, source: Circles’ Github Value Instrument – Meta-tool for creating your own currency This project offers communities and networks a user interface and smart contract package (Alpha version has been released), where you can design and deploy your own complementary cryptocurrency. It is down to the community to choose the rules (for example, the basic income structure) and deploy their own currency. Value Instrument is driven by four principles for monetary design, more precisely what they call “value accounting”: The tokens have a lifetime value, and if you don’t spend them before the “life” runs out, the tokens are burned. When you transfer tokens, their lifetime value is renewed. There is a small transaction fee in order to discourage transferring purely to renew the lifetime. This non-profit project is one of the latest to join the crypto-UBI family. Currently, the Good Dollar experiment is doing research and working out how will they achieve their goals. Besides offering a global cryptocurrency based on UBI values, they also plan to host hackathons, conferences, as well as fund further research on the topic. And right off the bat its future may already look more optimistic than others considering that they are sponsored by eToro, one of the world’s biggest investment platforms. Swiftdemand – Crypto UBI platform with an in-built store The DAO-based Swift protocol implements basic income by daily distribution of their native digital currency – Swifts. Swifts are not backed by anything, and their value is derived from people’s willingness to use them. Users receive 100 Swifts daily. The amount will gradually decrease once the cap of 100 billion Swifts is reached. Currently, you can get an extra Swifts for a referral or confirming transactions, but soon the automatic payments will be the only source of Swifts. You need to claim your Swifts at least once a week (there can be max. 700 unclaimed Swifts on your account). This incentivises the users to stay active and regularly use the currency. You can either transfer Swifts (each transaction has a 3% fee as well as a 2 swift fee) or spend them in Swiftdemand’s store. Swiftdemand has implemented a new consensus protocol, called the delegated Proof of Identity (DPOI). It is similar to DPOS (delegated Proof of Stake), but while in DPOS the influence is proportional to the amount of tokens held, in DPOI every user has the same rights regardless of their stake. The project is currently building their own blockchain in order for Swift to become a fully-fledged cryptocurrency so that users will be able to withdraw swifts or move them to external wallets (which is not possible right now). Mannabase – UBI, direct giving, and a social medium Created in 2015 by the People’s Currency Foundation, Mannabase (previously known as Grantcoin) must be one of the earliest crypto-UBI projects. The currency is blockchain-based, publicly traded, and backed not only by investors, but also by (tax-deductible) donations. They have also optimized donating with smart contracts, as targeted direct giving opportunities are readily available. Mannabase can also be used as a social platform to grow your socially conscious network. Interestingly, Manna can also be transacted on Twitter. UBI is received on a weekly basis on their platform, and the distribution is fully automatic. The amount received is getting lower as the user base grows. This is due to the fact that the total amount to be distributed is divided among all the users. One of my favourite things about Mannabase is their effective altruism system of Targeted Direct Giving. A lot of people who would normally receive the unconditional payment under a UBI scheme may not actually need it (middle and upper class citizens). Therefore, Manna users who do not have to rely on a basic income may choose to build a “giving portfolio” that automatically sends a percentage of their income to a cause of their choice. For example to a given region, a basket of their favourite charities, or other UBI recipients. Once a user chooses the portion of their income to be sent to a given recipient, the transactions are then made automatically. The project has also launched a Children’s Saving Program, where parents or guardians can create accounts for children (must be confirmed by government issued ID or a birth certificate). The account can’t send money, but it can receive funds. Therefore, at 18, the account becomes unlocked and the owner has a basic capital to start his or her adult life. Mannabase, by connecting consumers, businesses, and NGOs, aims to become a “clearinghouse of information” for conscious consumers and businesses. The team is also working on making the platform as user-friendly as possible, even (or especially) for people new to the cryptocurrency scene. As can be seen, there are several possible models of a crypto UBI system. However, at this point in time, majority of them are at early, or very early stage. Nevertheless, it is important that these project exist – we need to find the best solution, and the way to do that is to try different models and systems and see what works best. Tags: basic income, basic income models, blockchain applications, blockchain use cases, inequality, UBI, UBI models, Universal Basic Income

BlackRock, the colossus soaring above all other asset managers with $8.7 trillion in AUM, has started turning its eye on Bitcoin. BlackRock’s chief investment officer, Rick Rieder, revealed this on CNBC’s Squawk Box business show. According to Wednesday’s SEC filing, BlackRock held $6.5 million worth in CME BTC futures since January.

Since then, BlackRock’s 37 future contracts have appreciated over $360k. If you recall, futures are mainly used to hedge against price movements of an underlying asset from becoming unfavorable. Let’s take the current global semiconductor shortage as an example.

A GPU company is heavily dependent on semiconductor manufacturers such as TSMC. Accordingly, if the prices of chips rise, that company would suffer losses to its profits margin. To ensure against this, a hypothetical GPU firm would create futures contracts – buying chips at a certain price for a certain period.

Therefore, if the price of chips goes higher, futures contract ensures the company’s bottom line is not affected. In turn, the semiconductor manufacturer benefits from a secured income source. Moreover, if, for whatever reason, the chips lower in price than the agreed one in futures, it would benefit the manufacturer over the GPU company.

It is no understatement to say BlackRock is the worlds’ most powerful monetary entity. It even started handling the Federal Reserve’s affairs last September in order to stave off another stock market crash. BlackRock’s BTC futures involve two funds:

Overall, BlackRock’s BTC CME (Chicago Mercantile Exchange) futures represent a minuscule slice of its total holdings – merely 00014%. BlackRock’s Rieder stated that this tiny dabbling into dominant cryptocurrency stems from the unsustainable nature of the current financial system.

“People are looking for places that could appreciate under the assumption that inflation moves higher and that debts are building, so we’ve started to dabble a bit into it.”

This aligns with the popular outlook that macroeconomic factors could push Bitcoin to reach $100k this year, regardless of inevitable price corrections. Interestingly, BlackRock’s chief, Larry Fink, follows similar pivoting on Bitcoin as Jamie Dimon’s portrayal of it as “fraud”.

“It’s just not a real thing, eventually it will be closed”, Jamie Dimon, the CEO of JPMorgan Chase at Delivering Alpha conference on September 12, 2017.

In the same year, within a month apart, Larry Fink framed Bitcoin as an “index of money laundering“.

“Bitcoin just shows you how much demand for money laundering there is in the world”, Larry Fink, the CEO of BlackRock, at the Institute of International Finance conference on October 13, 2017.

Unfortunately, that old-school canard has not yet retired. Only a few months back, the world’s biggest central bankers, from the Fed and ECB, tried to dishonestly portray Bitcoin as seedy crime money. In the meantime, both Morgan Stanley and Goldman Sachs have started offering Bitcoin funds.

In early March, Morgan Stanley’s clients who exceed $2 million in accounts gained access to Bitcoin funds. Likewise, Goldman Sachs should follow in Q2 2021 with both physical Bitcoin and derivatives. Mary Rich, the bank’s chief of digital assets, explained why:

“There’s a contingent of clients who are looking to this asset as a hedge against inflation, and the macro backdrop over the past year has certainly played into that,”

Once again, confirming what we already know—we are participating in a historic MMT experiment. At the end of that road could very well be CBDC tokenization of the economy, accompanied by UBI implementation.

Do you see such news as Bitcoin becoming an exclusive investment vehicle for the world’s most powerful institutions? Let us know in the comments below.

Bitcoin topped $61,700 on Saturday, in what was to become the new all-time high for the most popular cryptocurrency in the world. The digital coin has surged so far in 2021, fueled by an influx of cash from institutions and retail investors. Tesla is one of the companies that bet big on bitcoin, announcing a few weeks ago a massive purchase of coins. But bitcoin isn’t the only cryptocurrency out there that’s been trending up for most of late 2020 and 2021. Plenty of blockchain projects with real-world use exist, and most of them have digital tokens attached that can be minted and traded. As long as bitcoin is going up, the altcoins will follow — but the opposite is also true.

The popular crypto dropped below $55,000 in early trading on Monday, which appears to be a market correction similar to what’s been seen in previous cycles. But what’s different from other recent corrections is the news cycle that might spell some trouble ahead for traders. India, a country that’s been toying with regulating the cryptocurrency market, is looking at stricter laws that would make it illegal for a person to own any digital coins, be it bitcoin or anything else.

Sources said to be familiar with the Indian government’s plan to regulate crypto informed Reuters of the proposed bill. According to an unnamed senior government official, the Indian government plans to criminalize nearly everything related to crypto coins and private blockchains. The bill would become one of the world’s strictest policies against cryptocurrency. It would criminalize “possession, issuance, mining, trading and transferring crypto-assets,” per Reuters.

The Indian government reportedly wants to introduce its own digital currency while banning everything else. The report notes that recent comments from the government had raised hopes that authorities might go easier on the booming market. The bill would give holders of cryptocurrencies up to six months to liquidate their holdings. After that, penalties would be applied. If the bill passes, India’s regulations would be even stricter than China’s, which only bans mining and trading, not possession.

The bill might impact the prices of bitcoin and other cryptocurrencies down the road. Around 8 million Indian investors currently hold about $1.4 billion in crypto investments, according to industry estimates.

The Indian government does appreciate the blockchain technology that powers all these cryptocurrencies and crypto projects, according to recent reports. “I can only give you this clue that we are not closing our minds, we are looking at ways in which experiments can happen in the digital world and cryptocurrency,” Finance Minister Nirmala Sitharaman told CNBC-TV18. “There will be a very calibrated position taken.”

From the looks of it, the Indian government is only looking at blockchain tech for powering money transactions, but not all blockchains are about finance. Aside from potentially — and briefly — impacting bitcoin valuation, these regulations might impact India’s ability to compete in the blockchain industry. Holding specific amounts of digital tokens might be needed to develop specific blockchain applications, but India’s bill might hinder that.

It’s unclear when the bill might come to a vote, although when it does, it’s expected to pass with ease. Prime Minister Narendra Modi’s government has a comfortable majority. It’s also unclear what will happen to people who hold bitcoin beyond whatever grace period the bill would allow. One thing about cryptocurrencies is that they can offer holders some anonymity, so people could find ways to hide their digital holdings.

The rise of cryptocurrency is changing the philanthropic world by causing the redistribution of wealth from old money to visionary innovators and early tech adopters. The new crypto rich invest their donations by supporting scientific research in groundbreaking fields that may one day enable humanity to cure aging, reverse death and completely change the relationship between work and income. Also Read: How Does a Country Do an ICO? They Call It QEThe Cryptorati Want to Defeat Aging Examining the record of donations made by the crypto rich reveals a pattern of support for goals that others may feel belong in the pages of science fiction novels. Having benefited greatly from recognizing the potential of peer to peer electronic cash earlier than the masses, it is no surprise that they have great optimism in the power of technology to radically change our lives for the better.One of the main benefactors of this type of donation focus is the SENS Research Foundation located in Mountain View, California. The non-profit SENS (Strategies for Engineered Negligible Senescence) defines its goal as working to develop, promote, and ensure widespread access to therapies that cure and prevent the diseases and disabilities of aging. Unlike the traditional medical approach of only treating or managing old age problems as they kick in, this approach focuses on comprehensively repairing the damage that builds up in our bodies over time, thus mitigating the aging process as much as possible.In the early 2000s, Michael Novogratz donated to the research organization and the Pineapple Fund gave SENS $2 million in BTC last year. Moreover, Ethereum founder Vitalik Buterin also donated $2.4 million to SENS in 2018 and another $350,000 in January 2019. The regenerative medical therapy organization also raised another $4.1 million in cryptocurrencies last year in addition to the Pineapple Fund donation.The chief science officer of SENS, British biogerontologist Aubrey de Grey, talked about the relationship between his venture and crypto proponents last year and detailed that many have donated to the research organization. Im not in this to do science for the sake of doing science, de Grey explained. Im in it for the ultimate goal. He further revealed that a few anonymous donors have given SENS $1 million each and other cryptocurrency personalities are also long-term donors of the foundation.The Cryogenics Connection Another main benefactor of donations made by crypto personalities is the Alcor Life Extension Foundation. This nonprofit based in Scottsdale, Arizona, advocates for, researches, and performs cryonics. This entails the freezing of the whole human corpse or just the brain in liquid nitrogen after legal death, with hopes of resurrecting the individual when the requisite technology is developed in the future.According to reports, a number of crypto rich have anonymously donated to Alcors cryonics research. The top connection between the field and cryptocurrency is that Alcor might be preserving the body of a man some believe to be Satoshi Nakamoto himself. Hal Finney is the computer scientist who received the very first bitcoin transaction and helped get the network up and running during its first year. On Aug. 28, 2014, Finneys body was taken to an Alcor facility soon after his death and underwent the cryogenic process. In May 2018 the foundation announced that cryptocurrency enthusiast Brad Armstrong gave it a $5 million research contribution, being held in the name of the Hal Finney Cryonics Research Fund.Another connection between cryptocurrency and cryogenics is that computer scientist Ralph Merkle, known for creating cryptographic hashing, the Merkle tree and other inventions, is also a researcher and advocate of cryonics. He reportedly knows a few crypto people who have donated to cryonics and also helped raise funds for Alcor.Universal Basic Income and MDMA A more economic research topic, but one that could have drastic implications for human society no less than curing aging or cheating death, is Universal Basic Income. UBI is one of the hottest economic debate topics of the last couple of years, talked about as a possible solution to technological unemployment, preventing humans from falling behind once robots take over all the jobs. The idea has even gained support from various politicians around the world recently such as U.S. democratic candidate Andrew Yang.Basically the UBI plan is to provide everyone with a stipend so that they can live their lives without worrying about making enough money from work just to survive. This raises several questions as it goes against how many believe the world should function and it will also be an unprecedented experiment in the human condition. The Pineapple Fund made a $5 million donation to the organization Give Directly in 2017 to sponsor cash transfers to people living in extreme poverty in Kenya, Uganda, and Rwanda where it is possible to test the UBI concept before its implemented in more expensive regions of the world. The Pineapple Fund has also donated more than $1 million to aid in the research of using MDMA as a treatment for PTSD.Crypto rich and well-known community personalities have of course donated to other causes than the above mentioned scientific research projects. To list a few examples, Justin Sun gave $3 million to the Binance Charity Foundation, $250,000 to the ALS association and over $4.5 million to Glide which aims to alleviate poverty. John McAfee donated a 27-foot boat worth $1.1 million to the Belize Coast Guard. The CEO of Coinbase, Brian Armstrong, even signed the Giving Pledge, the drive started by Warren Buffett and Bill Gates for rich people to give away the majority of their wealth instead of leaving it to their heirs.What do you think about the fields of scientific research the crypto rich donate to? Share your thoughts in the comments section below. Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.The post Immortality, Cryogenics and UBI: How The Crypto Rich Influence Science appeared first on Bitcoin News.All Credit Goes To The Author Below And The Source Which Can Be Found By Clicking HEREAuthor: Avi Mizrahi

Microsoft founder Bill Gates has warned investors with less money than Elon Musk, CEO of Tesla, to be wary of bitcoin.

Musk used pro-bitcoin tweets before his company, Tesla, added $ 1.5 billion worth of bitcoin, pushing the cryptocurrency higher.

“Elon has tons of money and he’s very sophisticated, so I don’t worry that his bitcoin will sort of randomly go up or down,” Gates told Bloomberg.

“I do think people get bought into these manias who may not have as much money to spare. My general thought would be that if you have less money than Elon, you should probably watch out,” Gates added.

Gates said he had not personally invested in Bitcoin, adding that he would prefer to invest in production.

“I do not choose my investments based on whether they would appreciate in value or not,” he pointed out.

Bitcoin’s intangible currency is known for its extreme volatility, jumping to nearly $60,000 last week after collapsing below $4,000 in March 2020.

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It rebounded over the summer and started its latest bullish jump in October, surpassing its 2017 high in December as big institutions showed interest in digital currencies.

Last week, the combined value of 18.6 million Bitcoins reached $1 trillion, as the cryptocurrency obsession resurfaces.

Although the bitcoin price has dropped by nearly 20% over the past week, many in the bitcoin and cryptocurrency community are still bullish about digital mining. Meantime, bitcoin rose 3.92% to  $ 47,158.58 on Saturday.

لوما نيوز محرك بحث اخبارى و تخلي لوما نيوز مسئوليتها الكاملة عن محتوي الخبر Bill Gates Issues Bitcoin Warning او الصور وانما تقع المسئولية علي الناشر الاصلي للخبر و المصدر صدى البلد كما يتحمل الناشر الاصلى حقوق النشر و وحقوق الملكية الفكرية للخبر .تم نقل هذا الخبر اوتوماتيكيا وفي حالة امتلاكك للخبر وتريد حذفة او تكذيبة يرجي الرجوع الي المصدر الاصلي للخبر اولا ثم مراسلتنا لحذف الخبر