A Bloody, Brutal Weekend
Happy Monday, Blockfolians
The Lede
Well, that one was weird.
This:
Turned into this:
@loshan1212 @itsALLrisky For those bad at math 👆, 100X higher transaction volume with 100X lower fees means total fees earned stay same. Low fees & high volume are needed to become currency of Earth.
Turned into this:
Turned into this:
@ChainLinkGod @PeterMcCormack Hey cryptocurrency “experts”, ever heard of PayPal? It’s possible … maybe … that I know than you realize about how money works.
Turned into this:
Turned into this:
Elon Musk implied in a Twitter exchange on Sunday that Tesla may sell or has sold its Bitcoin holdings
Turned into this:
Tesla's decision and Elon's Twitter forays effectively caused a -23% correction in the price of bitcoin, in five days.
I think that's enough.
So basically this:
So yeah, hope you were camping with no WiFi.
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Highly Relevant Reading
The latest correction seems to be panic selling from newbs
Tether is launching on its 9th blockchain
Crypto funds are seeing redemptions as investors diversify from BTC to alts
Bank of America joins the Paxos network
A Really Big Number We Should Be Paying Attention To
$6B
That’s the value of the SHIB tokens Vitalik just burned
Final Thought
Oh boy