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Bitcoin goes yellow as Simpsons episode features BTC price rising to infinity

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The Simpsons, one of the most popular animated sitcoms in TV history, has made a rather bullish prediction for the price of Bitcoin.

In Sunday’s episode of the 31-year-running cartoon, titled “Burger Kings,” the characters get into the financial market for stocks of a new burger chain created by the town’s billionaire, Montgomery Burns. When Marge is checking on her gains during an episode of “Crazy Cash” — seemingly parodying Jim Cramer’s Mad Money — the ticker feed clearly shows the price of Bitcoin (BTC) next to a green infinity symbol.

Other comedic predictions include the value of the entire United States dropping by a quarter-point, GameStop stock rising by 1 trillion, and Tesla: “If you have to ask, you can’t afford it.”

This is not the first time crypto has made an appearance on The Simpsons. In 2020, actor Jim Parsons of The Big Bang Theory appeared as a guest star to explain cryptocurrencies and how a distributed ledgers work. The actor referred to crypto as “the cash of the future” before text appeared jokingly stating it “can be generated by fiat like traditional currency or just thrown around randomly or all given to LeBron.”

Some may see Bitcoin’s appearance on the show as a bullish sign. Considering that the asset’s price passed $60,000 again on Monday, it only needs to rise infinity percent to make The Simpsons’ prediction come true. Perhaps due to the sheer number of topics the show covers, The Simpsons has seemingly predicted the future many times. Some examples include the Donald Trump presidency, the outcome of three Super Bowls, and various innovations in technology such as video chatting, smartwatches and autocorrect.

While the show did seemingly use the media attention surrounding Bitcoin as a punchline, industry players have made their own bullish predictions in recent weeks. Last month, Kraken CEO Jesse Powell said BTC’s price is eventually “going to infinity” and that expects the crypto asset to reach $1 million in the next decade.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/bitcoin-goes-yellow-as-simpsons-episode-features-btc-price-rising-to-infinity

Blockchain

Cuba to Fight Financial Disturbance by Potentially Adopting Crypto

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The government officials of Cuba examine crypto adoption as an instrument to overcome financial turbulence in the country. This comes a few weeks after the Cuban authorities started discussing the implementation of digital assets in the economy.

Crypto vs. Monetary Turmoil

The economic situation on the island of Cuba suffered heavy setbacks due to the consequences of the COVID-19 pandemic. Moreover, the government implemented crippling sanctions on the residents, which had a catastrophic effect on the local economy.

As Periodico Cubano reported, the president of Cuba – Miguel Díaz Canel – together with the country’s authorities, now plan to face these issues with the help of cryptocurrencies. According to the coverage, Díaz Canel discussed the possible benefits of crypto adoption in the country.

Additionally, he revealed his intentions to ”keep informing the public” about any implementations regarding the matter. However, Díaz-Canel alerted about the ongoing crypto scams on the island, calling them ”investment pyramid schemes.”

The president’s intentions did not come as a surprise. Last month the Congress of the Communist Party of Cuba (PCC) put ahead proposals that might contain finding out how digital assets can boost the shattered economy of the country.


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Back in 2019, the Cuban authorities made a similar announcement on how cryptocurrencies can deal with the country’s monetary issues. The Minister of Economy and Planning then said:

”We are considering studying the application of cryptocurrencies in national and international commercial matters. Measures of this type can allow us to move forward. We have to look for alternative means to solve economic problems.”

Similar Situation in Kenya

The move of the Cuban government to fight its financial issues with the help of cryptocurrencies is not the only global example. As CryptoPotato previously reported, Kenya’s Central Bank explored the option of using Bitcoin to boost its depreciating Shilling.

The Kenyan local currency has been on a downward trend for the past few decades and has lost nearly 50% of its value compared to the US dollar since 2010. In the past year alone, the Shilling registered a decline of 10% against the greenback.

Consequently, the Central Bank of the African country came with a plan to switch its national currency to Bitcoin. Although such a move sounds utterly risky, as no government has done it so far, Central Bank Governor Patrick Njoroge revealed his confidence in the possible project:

”Our decision to shift to Bitcoin is both tactical and logical. Our currency has always been the punching bag for the IMF. This has led to too much pressure on the Kenyan Shilling, and this has a negative effect on the economy. Bitcoin will put an end to this.”

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Source: https://cryptopotato.com/cuba-to-fight-financial-disturbance-by-potentially-adopting-crypto/

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Shiba Inu (SHIB) Mania, Dogecoin, Tesla’s Bitcoin Halt and Crypto Market Volatility: The Weekly Recap

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To say that last week was eventful would be an understatement. The entire market went through extreme volatility. Many altcoins charted new all-time highs and went through serious declines as well.

Let’s start with Bitcoin. The cryptocurrency is currently down about 10% on the weekly – last Friday, it was trading at around $57K. Unfortunately, it was all downhill from there, with the exception of the first few days as on Monday, BTC had an unsuccessful attempt at the coveted $60K mark.

On Thursday, Tesla announced that they would no longer support bitcoin payments for their vehicles, citing environmental concerns with BTC mining. This sent the entire market into a steep downturn, where the primary cryptocurrency crashed all the way to $45,700. Most altcoins followed.

Ethereum charted a fresh all-time high at around $4,400, but it was also affected by the downturn and crashed to $3,500 as a consequence. The same can be said for Binance Coin, Cardano, Ripple, and so forth.

However, Dogecoin clones such as Shiba Inu (SHIB), Akita, and so forth is where all the rage was this week.

Propelled by the sky-high increase in the price for DOGE, other cryptocurrencies with similar meme appeal, such as SHIB, Shiba Pup, Akita, and so forth, also took for the skies. Most of them shared one common trait – the developers had sent 50% of their total supply to the wallet of Vitalik Buterin as a “proof of burn.”

In a move that many didn’t see coming, however, Buterin started disposing of the billions worth of free money he had received. He donated large sums to charities in India, as well as to research facilities. This showed everyone that he doesn’t intend to keep these clone coins in a move that many considered a “rug.”

While a lot of these meme-inspired cryptocurrencies crashed and burned, some still brought massive gains to their investors. At the time of this writing, SHIB is up over 1500% over the past seven days.

All in all, it’s safe to say that it was a very exciting week in the cryptocurrency market. It’s interesting to see what the next week has in store.

Market Data

Market Cap: 2369$B | 24H Vol: 245B | BTC Dominance: 40.5%

BTC: $51,336 (-10.27%) | ETH: $4,139 (+18.36%) | XRP: $1.42 (-13.12%)

This Week’s Headlines You Better Not Miss

Vitalik Buterin Sells Off Dogecoin Clones: SHIB, AKITA, and Others Face Massive Dump. In a move that shocked many, Vitalik Buterin sold a lot of the meme-inspired Dogecoin clones that he received. This sold most of them in a severe downturn, though a lot are still performing very well over a seven-day period.

Tesla Stops Accepting Bitcoin: Price Slumps $3,000 In Response. The giant electric vehicle manufacturer, Tesla, has decided to halt payments using BTC for its cars. The company cited environmental concerns as the primary reason for the decision and stated that it would continue to hold bitcoin on its balance sheet.

MoneyGram to Enable Users to Buy Bitcoin and Withdraw it From Brick-and-Mortar Locations. One of the world’s leading money transfer companies, MoneyGram, will allow its users to buy and withdraw cryptocurrency for cash at traditional brick-and-mortar locations in the United States.

US Investment Bank Cowen to Offer Crypto Custody Services. More banks are getting involved in cryptocurrencies. Cowen Inc., a large multinational investment bank based in the US, announced plans to hold digital assets for hedge funds and asset managers.

Crypto Is the Solution to the Problem Created By the Federal Reserve: Stan Druckenmiller. Stan Druckenmiller thinks that the US Dollar could lose its status as the global reserve currency. This is because of the ongoing policy of the US Federal Reserve. He also believes that a ledger-based system can be the replacement.

eBay Now Allows the Sale of NFTs on its Platform. One of the leading online marketplaces, eBay, has become the first in its industry to jump aboard the non-fungible tokens (NFTs) bandwagon, as the company now allows the sale of NFTs on its platform.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Cardano, and Uniswap – click here for the full price analysis.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


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Source: https://cryptopotato.com/shiba-inu-shib-mania-dogecoin-teslas-bitcoin-halt-and-crypto-market-volatility-the-weekly-recap/

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AllianceBlock Announces Decentralized Capital Market on Edgeware with Defi-NFT Approach

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[PR – Utrecht, The Netherlands, May 14, 2021]

AllianceBlock has announced it will launch a decentralized capital market on the Edgeware smart contract platform. The protocol brings unprecedented tooling to the Substrate-based Wasm contract palette, including NFT contract standards, Defi and DAO primitives to their peer-to-peer market, further empowering collectives and individuals to lend and fund across the network.

In the longer term, AllianceBlock is positioned to bridge traditional finance and defi through globally compliant platforms and tools – interoperating with the latest in digital organization and governance and their team’s background across both financial paradigms, including CEO Rachid Ajaja, previously at Barclays and the VINCI smart cities project:

Edgeware’s vision of building a community owned, decentralized platform with a focus on on-chain governance is perfectly in line with our own. We are seeking to build a new financial infrastructure that takes advantage of innovative technology, and Edgeware’s community treasury, facilities for DAOs, and bridging of digital and physical entities are important parts of linking DeFi with traditional finance.

We are excited to be integrating our products into Edgeware, and look forward to collaborating more moving forward.

Edgeware is currently the oldest and few of the mainnet Polkadot ecosystem smart contract platforms, enabling teams like AllianceBlock to fully test and deploy on variety of development and mainnet Substrate chains.The value alignment and technical foundation, including the opportunity to model best practices off the chain’s own governance, has made deployment on Edgeware a quick and effective launch.

Look forward to a launch AMA in the Edgeware and AllianceBlock community forums in the next few weeks.

About AllianceBlock

AllianceBlock is creating a protocol that will bridge DeFi and traditional finance (TradFi) to bring the benefits of both areas to one another and create the first decentralized capital market.

The AllianceBlock Protocol is designed to reflect how traditional finance would be built today with current technology. It incorporates new technology such as DeFi in a TradFi friendly manner, ultimately allowing us to facilitate services required by both spaces.

Long term, the decentralized blockchain-agnostic Layer 2 AllianceBlock Protocol will provide a secure and regulatory compliant gateway for billions of dollars present in TradFi to flow towards DeFi and enable DeFi platforms and protocols to be used by a much greater audience. In doing so, we will unlock DeFi for the world.

About Edgeware

Edgeware is a community-owned, fairly distributed, self-sustainable blockchain ecosystem built on Substrate with on-chain governance and a collectively managed treasury, enabling users to fund the chain’s development and teams to build projects.

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Source: https://cryptopotato.com/allianceblock-announces-decentralized-capital-market-on-edgeware-with-defi-nft-approach/

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