Daily Crypto NewsEDITION #19, 07 September 2020

Bitcoin is naughty!

Hey #Moni Maker 😊

This week turned out to be a bump on the crypto's way to mass adoption, but one can not scare a true crypto enthusiast with a couple of red candles. Instead of panicking and dumping our holdings, we'll buy the dip and keep a closer eye on the market!

Let's move on to last week's events!

Pornhub, the ninth most visited website in the world, now allows its users to pay for premium subscriptions with Bitcoin (BTC) and Litecoin (LTC).

So what?

"OH MY GOD!" - porn actresses scream. We will shout too and explain why.

The entertainment industry is increasingly turning to bitcoin, more precisely, to its most prominent representatives. After Steam, PornHub entered the cryptocurrency space.

This is quite good for BTC, because entertainment in the 21st century has already become a cult, maybe even a new religion. And the blessing of this industry speaks of the imminent mass adoption. What a time to be alive!

Switzerland’s canton of Zug, home to hedge funds, crypto firms and commodity traders, will start allowing citizens to pay taxes with Bitcoin and Ether as the acceptance of digital currencies continues to rise.

Zug, which is known for its low corporate taxes, has been accepting Bitcoin payments for certain government services since 2016 and inspired the ski resort of Zermatt to do the same.

So what?

Switzerland has always been famous for its progressiveness, wealth and high standard of living. Other countries will follow, we are certain!

But as for many third world countries this question is really difficult. In such countries many people are used to getting paid under the table and never pay taxes.

When mass adoption comes, these countries’ governments will have to solve this problem. Because figting the progess is a suicide, everyone gets it now.

According to the analytical resource Coinmetrics, the DeFi boom had an affect on stablecoins as well. Their capitalization is growing by roughly $100 million per day.

"Everyone got so excited about DeFi, no one pointed out that stablecoins have been adding $100M/day since mid July", - co-founder of Coinmetrics Nick Carter tweeted.

So what?

Well, stablecoins are also a breakthrough project, because they have solved the problem of bitcoin’s massive volatility. Also, stablecoins bring mass adoption closer, because a stable picture is vital for human consciousness.

DeFi pushed stablecoins. Ok! Let's launch a couple more projects, which will push the whole crypto-economics forward so we can finally pay with USDT for the bus tickets.

Justin Sun decided to keep up with DeFI trend. Thanks to his new projects JustSwap and Sun.market, which over 5.5 billion TRX tokens (over $250 million) locked, the value of TRON increased by 110% since the end of August .

Justin is known as a great promoter of his projects through lound announcements. Every day. Such behavior attracts many people willing to invest in new DeFi projects, even though most of them are only analogues of existing ones. For example, JustSwap is a direct analogue of the Uniswap project.

Such an impressive growth propelled Justin's cryptocurrency to the top 10 largest cryptocurrencies by capitalization.

So what?

We didn’t hear any loud news from Sun last month, but as we see he still knows his business. One of the most controversial characters of the crypto world is back! In the big game!

This is great, because, as we said before, good competition brings good projects. Go, Sun, Go!