Lately, I can sense that new projects are not coming in great numbers as in the past (compared maybe to 2017 and early 2018) and I understand that innovative ones are not as prevalent as before. We  can be experiencing right now a "famine" of good projects because some are just "me-too" or obviously done to make money to developers and marketers.

However, there can be some rare ones that might be worthy of our support especially our yes from our wallet power. But as always I fear that many projects are just money drainers and will just fade when tested by time and in real marketplace.

With this scenario as the backdraft, do you think it is still good to support new projects? Or maybe are you still into it?

After more than 10 years in existence, we can still consider Bitcoin to be a newbie though considering that we are now in the fast=paced technology kind of society this should have been not the case. Bitcoin is attracting many solid players and I think it is here to stay and will not be succumbing to competitors in the near future but it has to be adopting to many challenges ahead.

So what are the things that hindered BTC to be adopted by as many people as possible. This is just my opinion, please be warned. One factor is that many people are turned off by the complexity of using cryptocurrency. This must be looked on fair and square. People should be using cryptocurrency as easy as using PayPal, though how this is going to be accomplished can be debatable. There are now a good deal of progress on this regard, but they are mostly niche-based and not yet generally accepted.

Another factor that turned off many is the existence of scams, hacks and frauds all over the industry. Sadly, there is nothing concrete we can do on this except to educate as many people as people, sadly though that even the most educated in crypto can still be victimized.

Of course, the role of the government should not be overlooked. Bitcoin is not officially recognized in China, India and Russia where a huge number of people are located, though we know that many residents of these countries are secretly holding Bitcoin.

 


Malta-based cryptocurrency exchange Binance is now back up and running after completing what it claims is its largest upgrade yet—a complete overhaul of its matching engine.

Earlier this week, Binance announced that it would be upgrading its spot trading platform on June 28. The upgrade was initially slated to take two hours, during which a wide range of platform features, including deposits, withdrawals, spot trading, and P2P trading would be rendered unavailable. The upgrade ended up taking longer than initially projected, but finished successfully this morning.

More of this here...

Binance continue its dominance in the cryptocurrency exchange marketplace and there seems to be no serious contender to the top spot as many new and old peers are trying their best to capture bigger slice of the market. One thing is sure: Binance is always innovating in many fronts using its flowing creative juice especially coming from the man himself Changpeng Zhao.

PlusToken recently moved $186 million worth of Ethereum, leading investors to fear a dump in ETH price.

Earlier this week PlusToken, one of the largest scams in the cryptocurrency world, tried to move 789,500 Ether (ETH), but the movement of these stolen funds were temporarily held up by congestion issues within the Ethereum network.

The $186 million transfer came from a known Ethereum address and was later split into 50 different transactions, possibly as an attempt to disguise the activity. Whale Alert first spotted the transactions which have since been processed but little information on the funds’ destination has been reported.

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Once again, a big scam has become a very important factor to shake the second biggest cryptocurrency network. Sadly, the same story materialized due to many scams that affected this growing industry. These days, even educated people can be blindly opening up their digital wallet in the name of greed. This is not the first nor will be the last.

Only 3.5 million bitcoin or 19% of total circulating supply is actively traded throughout the world, while the rest is being held long-term by investors, according to a new report by crypto analytics company Chainalysis.

Per the report, nearly 18.6 million bitcoin (BTC) has been mined as of June 2020. Of this, around 60% BTC is held by entities – either people or businesses – that have never sold more than 25% of the bitcoin they’ve ever received. Chainalysis labeled this BTC supply as “held for long-term investment.”

Taken from here.

I think this has been the case for many years and I am expecting almost the same situation years down the road. Come to think of it how just a small portion of the overall supply can be the determining force of the general price of the asset.

In the past, there had been many well-known and unknown personalities who got into the habit of predicting that in some years Bitcoin can be so valuable and possibly will be a million dollar. Now, of course, it is hard to just believe claims as we do not know the future to be exact and Bitcoin remains to be a volatile asset which still has to be officially accepted as a global currency.

Do you still believe that BTC can be able to one day reach the million dollar mark? Will it be 10 years or 20 years from now?

I think that Decentralized Finance or DeFi is really here to stay and is gaining a big traction in the marketplace...


Australia is experiencing a DeFi boom, with leading derivatives project Synthetix joined by buzzy newcomers Thorchain, Ren and mSTABLE.

Australia is experiencing a decentralized finance (DeFi) boom, playing host to some of the most talked-about projects in the space.

They include longtime DeFi leader Synthetix (SNX), the up-and-coming Thorchain (RUNE) along with the just-launched Ren (REN) and mSTABLE (META).

RUNE has increased 167% in the past 30 days, REN is up 36% (mostly in the past week),  and SNX is up 35% — and 2,600% since its lows prior to launching last year.

More here...