It's Beginning to Look a Lot Like Bitcoin
Top Bitcoin news of 2019, what to expect in 2020, and a little jingling BTC fun
What is the most important aspect of creating a crypto-based economy?
With an influx of social media sites based on cryptocurrency, and new and innovative projects centered on crypto, it’s important for project founders to think deeply about economic issues. How do you build an economy around your community? What are some signs of a healthy crypto economy? Join the conversation. What do you think is important? — CRYPTOCRACY
Good morning, crypto lover!
Today, I thought we’d do something a little different. I hope you’ll join the conversation about crypto economics. I’d like to hear what you think is important about building a crypto economy.
The rest of today’s newsletter, with two notable exceptions, will be focused on Bitcoin. What’s going on this holiday season with the Granddaddy of Crypto? There are some fun reads and, well, some funner reads.
Today’s Top Bitcoin News
From sunset to May’s halving. Will we experience a Bitcoin apocalypse in our lifetime?
Coinbase to Sunset Earn.com
Coinbase purchased Earn.com for $120 million and made CEO Balaji Srinivasan the exchange’s chief technical officer in April 2018. If you go to the Earn.com website, you’ll see a message directing you to Coinbase Earn. Now, the exchange is planning to sunset the website and focus on building its own Earn, which pays users to learn about cryptocurrencies by watching short explainer videos. — CROWDFUND INSIDER
Screenshot of Earn.com.
Google searches rise with Bitcoin price movements
Google Trends data suggests Bitcoin Google searches go up when there are huge swings in Bitcoin’s price, either up or down. Bitcoin found its highest search ranking last month when it traded about $9,200. Much of that interest is coming from Nigeria, South Africa, and Ghana, and a few small European nations. — COIN TELEGRAPH
Image from Coin Telegraph.
What’s Included in the Cryptocurrency Act of 2020?
A member of the party that wants less regulation wants to “attribute regulatory clarity” to the crypto market. That’s why he introduced legislation for Congress to consider. In this act, crypto is divided into three groups: cryptocurrencies, crypto-commodities, and crypto-securities. The act then goes on to assign the regulation of cryptocurrencies to the Financial Crimes Enforcement Network (FinCEN), crypto-securities to the Securities and Exchange Commission (SEC), and crypto-commodities to the Commodity Futures Trading Commission (CFTC). — SECURITIES.IO
The Top Bitcoin News of 2019
One trader turned $4,000 into $3 million with Bitcoin. Another reaped $34 million on a Bitcoin short position. A Redditor lost four Bitcoin on the Lightning Network. And let’s not forget about John McAfee going on the lam. — COIN RIVET
Image from Coin Rivet.
Bitcoin Could Outperform Stocks in 2020
The most popular cryptocurrency has been the best performing asset class for 10 years, but the best may be yet to come. One popular crypto investor says Bitcoin has the potential to see 1,000 percent returns. — USE THE BITCOIN
There’s an Impending Bitcoin War over KYC
In 2019, the Financial Action Task Force (FATF) rolled out new standards for crypto assets. Those guidelines will go in effect in 2020. Also, in January, the European Union’s new anti-money laundering rules go into effect. That means stricter Know-Your-Customer (KYC) rules around the world. Bitcoiners don’t like it. — BITCOIN.COM
The High Cost of Entering and Exiting the Crypto Economy
Some people say high fees make mass crypto adoption a major challenge. These include exchange fees and other “on” and “off” ramps. These fees are not likely to go away any time soon. — BITCOIN.COM
Image from Bitcoin.com.
Will the Bitcoin Halving Cause a Mining Collapse?
The next Bitcoin halving is expected in May 2020. The event will decrease the amount of Bitcoin paid to miners for discovering blocks. If the Bitcoin hash rate climbs while the price remains the same, it could make mining unprofitable, which would decrease the number of miners, and if enough miners go out of business, that could be a catastrophe. — BITCOINIST
Image from @Rhythmtrader on Twitter.
Have Some Bitcoin Fun
Fun Bitcoin ephemera, brought to you by the Christmas season.
It’s Beginning to Look a Lot Like Bitcoin
Santa Clause sings a Christmas classic. — COINDESK
Image from CoinDesk.
Bitcoin Music is Worse Than Christmas Music
Especially when it is Christmas music — TECHCRUNCH
How to Talk About Bitcoin at Christmas
Bottom line: Know your audience (KYA). — NASDAQ
All images form Nasdaq. And there are plenty more.
Allen Taylor is a veteran award-winning journalist and former newspaper editor. He is a freelance writer focused on fintech, including blockchain and crypto projects, and manages crypto blogs through CryptoBloggers. Follow me on Twitter and Steemit.