Daily Crypto NewsEDITION #74, 11 November 2020

Dotcom Bubble 2.0

Hey #Moni Maker ✋

Today, in 1843 the "Ugly Duckling" fairytale by Hans Christian Andersen was first published. Strange as it may seem, we instantly drew a parallel with Bitcoin: we have had the opportunity to observe its transformation from the nerds’ useless toy to an asset recognized by the financial world. But the most interesting thing is that this is just the beginning of the crypto tale, and we are yet to see the result of the formation of Bitcoin and Co. This is the event of the millennia, and believe me, you do not want to miss it!

Hop on board before it's too late!

Famous analyst CryptoWhale suggests that we are preparing for a "monstrous" market bubble, especially given the volume of money printing.

So what?

It's just like when we were kids - blowing bubbles is fun, but it has its own drawbacks. Sometimes pieces of chewing gum end up on your face in the form of financial losses, crises and other “joys” of the capitalist world. Boom!

Should we wait for the same from the crypto market? Was the same scenario prepared by plot-writers of this economic drama? Probably, yes.

Drakenmiller is considered one of the most successful Wall Street managers, he is the founder of Duquesne Capital, he managed George Soros' money from 1988 to 2000, earned $260 million during the 2008 crisis and his personal fortune is estimated at $4.4 billion.

So what?

Ooh, the big guy from Wall Street is now a BTC fan!

You know, in the past, powerful people were catching hype on BTC, but now being public HODLer is an usual thing. Ok, I have a few bitcoins, so what?

We suggest you listen to this guy's advice, judging by the look on his face, he is a serious investor.

The computing power of the Bitcoin network has reached 164.5 EH/s. In just 24 hours the figure has added more than 40%. Now the hashrate has slightly rolled back from the peak to 148.7 EH/s.

Quantum Economics analyst Jason Dean believes that such a jump in hashrate is due to the connection of a large number of ASIC-miners to the network after the migration from Sichuan.

Earlier it was reported that miners were disconnecting their equipment due to rainy seasons in this region.

So what?

Well, yes, the mining is dead, critics and experts were right...

It is a pity that nobody listened to these critics and experts. Huh.

50 thousand ETH (≈$23 million) are now blocked on the original Ethereum 2.0 contract. This number is less than 10% of the total amount needed to run Ethereum 2.0.

13,888 ETH came from a single address – 27% of the total share of ETH 2.0 belongs to a single user.

The second largest wallet deposited 6400 ETH, and the third staked 3200 ETH.

Based on the data, 46% of the network is currently held by three users. In addition, the third largest deposit was made by the co-founder of Ethereum, Vitalik Buterin.

So what?

While losers are waiting for the New Year’s Eve, the real guys are waiting for ETH 2.0. Okay, for $100K BTC too.

Vitalik is a genius. He didn't seem to catch hype at DeFi, calling everyone to "think for themselves before investing", but ETH got its popularity.

Well, everyone is called to the table!

— The Central Bank of Lebanon will launch its own digital currency (CBDC) in 2021.

Don’t forget that there’s a Battle going on. You can always follow the progress or just say a few nice words in our chat room.