The downfall of Terra calls into question the real-world utility as well as the long-term viability of algorithmic stablecoins. The past week has been a dark period in the history of crypto, with the total market capitalization of this industry dipping as low as $1.2 trillion for the first time since July 2021. The turmoil, in large part, has been due to the real-time disintegration of Terra, a Cosmos-based protocol that powers a suite of algorithmic stablecoins.

Read more here!


Am sure that what is happening right now with cryptocurrency industry would already be one of the most memorable one with a lot of repercussions for the industry that will appear later. Surely, many other platforms and players in this industry will be questioned as to their integrity and transparency. Let's hope that this will not be a big signal for regulators to make things stricter which can lead to the demise of many platforms...but definitely this can be a way for cleansing the industry of players that are not doing well according to what they should be. It would be interesting to see which can suffer the consequences next...

Analysts say BTC’s weakness is exacerbated by institutional investors exiting futures markets, but on-chain data hints that Bitcoin is in an early bottoming process.

The cryptocurrency market has experienced another rollercoaster week that saw Ether (ETH) price drop below $3,000 and Bitcoin (BTC) price hit a new multi-month low at $37,700. Equities markets also endured a sharp sell-off primarily due to investor fear over potential changes to the size of the Federal Reserve's next rate hike.

To date, Bitcoin price fell 41.72% down from its $69,000 all-time high and while the price might be in what some describe to be a bear market, a deeper dive into various on-chain and derivatives data shows that a drop in inflows and thepivot from institutional investors are the main factors impacting BTC price action.

Taken from here!

I am hoping that this good news for Bitcoin and that we can see it starts rising again maybe to $45K in the next few days and "wishing-on-the-well" can be $50K in the month of May which is now fast approaching. In my own analysis, April is not good for the King of Cryptos as there is a glaring lack of excitement on this asset right now...but things can change fast anytime. Do you think the bottoming out is really happening?

The Central African Republic has adopted Bitcoin as legal tender, becoming the second country in the world to do so after El Salvador. The law was passed unanimously, making the republic the first country in Africa to adopt cryptocurrencies as legal tender.

On Wednesday, the presidential administration announced that the Central African Republic has accepted Bitcoin as legal tender. Legislators unanimously passed a bill that made Bitcoin legal tender alongside the CFA franc and legalized the use of cryptocurrencies, reports France24. The new bill states that cryptocurrency exchanges are not liable to tax.

The new law was signed by President Faustin Archange Touadera, said his chief of staff, Obed Namsio. The CAR became the first country in Africa to accept Bitcoin as legal tender.

Source is here!


This is big news in the adoption of Bitcoin in line with the much-appreciated move by El Salvador last year as the first country to recognize Bitcoin as a legal tender. This is time around it is the Central African Republic, a land-locked country with around 4 million population.

I am expecting for another one or two small countries to be joining the Bitcoin bandwagon either in 2022 or at least in the early quarters of 2023. What is sure is that Bitcoin is now so unstoppable...there are now many big developments being cooked that can push Bitcoin to the top.

We know the many economic sanctions imposed against  Russia as it is invading Ukraine and for sure the economy of Russia is now rocked to the bottom with people experiencing the many pinches (though ordinary people do not have the means to air their grievances as the government is in total control of everything). As was then expected, there is that big possibility that Russia can be adopting Bitcoin as the medium of payment for its vast reserve of oil for the international market and then we heard of the news that this is what the country has been planning.

Now, of course, we know that Bitcoin is agnostic and apolitical meaning it does not care who is buying, selling, owning, holding, trading and using it and for sure this is open to anyone whether you can be a Russian or a Ukrainian, for that matter. Now, am just concerned if there will not be possible repercussions because of this move from Russia for Bitcoin and will it not be a bad image for Bitcoin especially in the eyes of people who are not approving of this war...

We know that for so many months now, the biggest problem we the people the crypto users deal with Ethereum is its incredible high gas fees for transacting business under the network. I was not able to convert many of my tokens and coins under the Ethereum because the cost of transferring made things unprofitable, in the first place. And for the past many months, developers in the Ethereum network failed to offer real, solid and effective solutions for the matter. Now, am wondering, is there already an estimated timeline for solving this problem...like saying that after the introduction of this and that we can expect things to be back normal? Or is it the same...still lost into the unknown?

Right now, we are seeing the grave destruction of a selfish ambition of a single man and his minions over a neighboring country who seems is getting away from his radar and influence and so to bring it back to his control it must be destroyed regardless if people who are so innocent of the whole thing can be killed. Of course, the invader can easily justify of such a move but in the face of such damages and lost of lives, any justification is unacceptable and just evaporates into the air.

Now, before I get carried away...let's talk on the many use-cases during the time of war or any chaotic scenarios for that matter.

One, crypto can easily be used for donations and helping people. This is a very established fact with the things happening right now in Ukraine as millions of dollars worth of cryptos poured in from different people and organizations all over the world. The ease of the transfer is a major big point for crypto which is the same if you are going to be sending your own fiat money to anyone in Ukraine because the financial system there is not working as it should be.

On the other side of the isle, crypto can be utilized to possibly go around with sanctions many countries imposed on the offender in this case and that is why many centralized platforms in crypto business are doing their own sanctions too but generally speaking it can be hard to imposed sanctions on cryptos when one is using decentralized tools.

Aside from these two, what other use-cases you see in this ongoing invasion?

Comments made by Warren Buffet’s right-hand man and vice chairman of Berkshire Hathaway have gone viral for their imaginative depiction of cryptocurrency.

Charlie Munger, the ancient vice chairman of Berkshire Hathaway and Warren Buffet’s right-hand man, has no issue with providing his honest thoughts on cryptocurrency: He hates it.

Speaking at a shareholder’s Q&A session at the annual meeting for Los Angeles-based newspaper company Daily Journal Corporation, the 98-year-old investing icon likened crypto to a sexually transmitted disease.

Taken from: https://cointelegraph.com/news/crypto-is-like-venereal-disease-and-should-be-banned-charlie-munger

Now, am not wondering why this man is commenting like that. He is already 98 years old and so having a hard time understand what the heck is Bitcoin or cryptocurrency for that matter. Just like his big boss Warren Buffet, they prefer the old school way of investing and we have to respect them for that because they are really successful in there...but they should stop commenting anything on Bitcoin because this is an area they are still infants.

What do you think of catching "venereal disease"?

I am sure that the rise of Binance has been on focus all because the Ethereum network failed a lot especially on its incredibly HIGH gas fees that all transactions are charged on. Of course, there are also other advantages but the gas fee has been the major impetus why many shifted to BSC. Now, what if soon Ethereum can get back to normal back to the days when transaction will not be costing more than $.50...do you think there can be a shift back to Ethereum coming from those already in BSC?