Since the Nixon Shock of 1971, wealth inequality has soared to levels not seen in over a century. The dollar was no longer redeemable for gold but was instead backed only by faith. Without the limitations of a backed currency, those in power were given the opportunity to create as much fiat currency as they desired, with little to no consequence. Destined to lose faith due to abuse, fiat currency was doomed from inception.

Consumption down by third since 11 June, with even sharper falls among other cryptocurrency networks

The increasing pressure for Bitcoin (BTC) miners to sell their holdings could further exacerbate the bear market. American multinational investment bank JPMorgan Chase strategists said in a note on June 24. Led by Nikolaos Panigirtzoglou, the strategists believe miners are selling their BTC holdings to cover operations costs.

Argentina has a population of 45 million, while Switzerland can claim roughly 8.6 million citizens. Where it gets interesting is that the Swiss franc is one of the world’s most circulated currencies, while the Argentine peso isn’t even the currency of choice in Argentina. Given the country’s history of devaluation, Argentines go to great lengths to exchange their pesos for dollars as a way of mitigating the horrors of devaluation.

Today (June 22), Citi made the announcement that it has chosen METACO as the partner to develop and trial digital asset custody capabilities. Through this agreement, METACO’s technology and digital solutions will be combined with Citi’s extensive custody network in order to establish a platform that will allow customers to hold and settle digital assets such as Bitcoin (BTC) in a safe and straightforward manner, according to a Business Wire report.

On Saturday, June 18, Bitcoin underwent another major price correction slipping under $20,000 for the first time since December 2020. As of press time, BTC is trading at $18,548 with a market cap of $354 billion. Panic has spread all across the crypto market making investors uncomfortable about the recent downside. El Salvador President Nayib Bukele has asked to take a chill pill and maintain patience in such testing times. In a message on Twitter, President Bukele wrote:

In brief: A lot of people are sweating over the tumbling price of Bitcoin, which was just $800 away from $20,000 only a few hours ago, but few have as much to lose as El Salvador. It adopted BTC as an official currency last year and holds 2,301 Bitcoin valued around $50.1 million at the time of writing. Unfortunately, the country paid a total of $105.6 million for the digital currency. Its Finance Minister isn't worried, though: he says the crash poses 'extremely minimal' fiscal risk to the South American nation.

An official notification from the Binance team states that they are actively working on a solution. Zhao asserts that he expects the issue to be resolved in 30 mins.

As 2022 might be the most turbulent year in all history of crypto, it is no surprise that things taken for granted last year might not be up-to-date now. Bitdeer, a cryptocurrency cloud mining service platform, has brought an insight into which devices do not cut it for Bitcoin mining anymore.

The cryptocurrency market cap has been dropping in the past 30 days and seems to have found its support at the $1.17 trillion level. On Monday, June 13, the Bitcoin price had dropped by about 10.57% in the past 24 hours, while the Ethereum price had dropped by 14.03%. This is according to data obtained from Coinbase, Binance, and CoinMarketCap.

Red Is Red, I Want the Green Back.

PayPal Holdings Inc said on Tuesday it will now allow users to transfer cryptocurrencies including bitcoin to external wallets, nearly two years after the fintech giant opened up its platform to digital currencies.

If you can have the original, why go for the copycat? In fact, Red Bull is one of the most prominent companies in Austria today and certainly one of the biggest global brands hailing from Austria. Its success is down to a tried and tested business strategy that is easy to understand but extremely hard to pull off: instead of competing with incumbents you just create a whole new product (sub)category.

Uncovering Satoshi Nakamoto will be a multi-year process in order to try to understand who really is this man and finally how decentralized bitcoin currency is. Nowadays, the total capital of crypto market is over half a trillion dollars with bitcoin dominance nearly 46% of total. Satoshi Nakamoto is the most mysterious man in the world. One unknown billionaire is hiding and people keep searching for the founder of Bitcoin. Vitalik Buterin explains who Satoshi Nakamoto really is.

There have been a number of exciting stories in the Bitcoin world this week, but none more so than the story of James Howells. Howells is an IT specialist who mined 7,500 bitcoins back in 2009, when they were worth next to nothing.

The state of New York had recently passed a bill to introduce a ban on proof of work mining. It prohibited any new Bitcoin mining operations in the state. Passed by the State assembly in April 2022, the proposal was to ban mining operations of Bitcoin for the next two years. The bill is now headed to the governor’s office where the governor shall give his assent and turn the bill into effective law.

Last year, as bitcoin’s price rose as high as $68,000, miners were having a blast. Their profits, according to some estimates, were hovering just under 90 percent, and many of them decided to expand their operations at a frantic pace, bracing for an even larger 2022 bonanza.

Former Fed Chair Ben Bernanke responded to questions about Bitcoin in an interview with CNBC that focused mostly on monetary policy, interest rates, and inflation. Speaking with Andrew Ross Sorkin in a segment that aired on Squawk Box last week, Bernake spoke a day ahead of his latest book release, which addresses Federal Reserve policy moves during the 21st century.

The Great Pyramid of Egypt held the record for tallest man-made structure for at least 3,800 years, and its 2.3 million blocks weigh 6 million tonnes. The massive granite blocks forming chambers at its core weigh up to 80 tonnes each and are situated over 40 meters above ground level. It is at the very least 4,500 years old, and even that barely conceivable age is based on surprisingly thin evidence: The realistic possibility exists that it is significantly older (do your own research, Bitcoiner — don’t trust, verify).

“Bitcoin fixes this.” — it’s a meme you’ll see if you spend any time talking with Bitcoiners. Dog pooped in the living room? Bitcoin fixes this. Late for work? Bitcoin fixes that too. Ok, maybe it doesn’t fix everything, although I could make a straight faced argument how Bitcoin could possibly fix those. In truth, an absolutely monstrous number of problems are created by broken money and it’s completely not obvious that it’s because of the broken money.