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NFL’s Russell Okung to Bitcoin Energy Critic Elon Musk: ‘Stick to Space’

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In brief

  • NFL player Russell Okung has launched a billboard campaign against Tesla and SpaceX CEO Elon Musk, due to his recent comments on Bitcoin.
  • Okung is a well-known Bitcoin aficionado who reportedly converted half of his $13 million NFL salary for 2020 into BTC.

Carolina Panthers left tackle Russell Okung is an accomplished NFL veteran with 11 seasons under his belt, a Super Bowl win, and two Pro Bowl selections. But over the last couple years, he has become almost as well known as a Bitcoin aficionado, reportedly converting half of his NFL salary into the leading cryptocurrency and launching a “Bitcoin is_” educational campaign.

Now, Okung is setting his sights on a perceived opponent of Bitcoin and taking his BTC advocacy to new heights—thanks to physical billboards.

Today, in a riff on the common “stick to sports” critique often waged against professional athletes who engage in social commentary, Okung announced the launch of his “Stick to Space, Elon” campaign, which is meant to push back against SpaceX and Tesla CEO Elon Musk’s claims about Bitcoin and the environment in recent weeks.

The campaign will feature billboards in Miami, Florida beginning tomorrow, ahead of the start of this weekend’s Bitcoin 2021 conference, along with mobile billboards near SpaceX’s launch facility in Brownsville, Texas and Tesla’s facility in Santa Clara, California.

Each billboard will feature an image of Okung along with the message, “Stick to Space, Elon.” The two-week campaign will also include an online component. According to a press release, the billboards are “meant to provide a gentle reminder to the public that Musk has been around Bitcoin for only a few months and is not an authority in this domain.”

“Bitcoin is humanity’s best shot at freedom. The public narrative needed correction as Elon apparently misunderstands its true benefit to our species,” Okung told Decrypt via email. “No individual is a threat to Bitcoin in the grand scheme of things. In Elon’s words, it is inevitable. His impact on Bitcoin is temporary.”

Earlier this year, Musk was seen as a leading proponent of Bitcoin, following the lead of MicroStrategy CEO Michael Saylor in buying up large sums of the cryptocurrency to hold on his company’s balance sheet. In February, Tesla announced that it had purchased $1.5 billion worth of Bitcoin, and would also accept BTC as payment for its electric cars. Bitcoin’s price soared following the announcement.

Last month, however, Musk changed his tune. He tweeted that Tesla would no longer accept Bitcoin, stating that the firm was “concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions.” Musk said that Tesla was also considering other, more energy-efficient cryptocurrencies. Bitcoin’s price sank and took the rest of the crypto market with it, while Bitcoin enthusiasts grimaced at Tesla’s due diligence process.

Since then, Musk has said he’s working with Dogecoin developers to help advance that meme-based cryptocurrency, and spoke with North American Bitcoin miners alongside Saylor. Some of the region’s mining firms have formed a Bitcoin Mining Council with plans to improve reporting of their energy usage and aim to convince international miners to follow suit. As of this writing, Bitcoin’s price is still more than 41% off of its all-time high set in April.

The Bitcoin network’s energy consumption has long been a controversial subject. Digiconomist estimates that its energy-intensive proof-of-work consensus model, which requires high-powered computers to solve equations to earn BTC rewards, uses about as much total power as the country of Pakistan. Bitcoin defenders claim that renewable energy is increasingly being used to power mining, however. For his part, Okung believes that Musk’s “declarations are simply false,” according to a press release.

Okung has been one of the most outspoken NFL athletes on Bitcoin, not only converting half of his 2020 base salary of $13 million—reportedly $6.5 million—but also supporting efforts such as the recent Bitcoin-branded car at the Indianapolis 500. Other players have since followed his lead in investing in cryptocurrency. NFL player Sean Culkin announced in April that he would convert his entire salary into Bitcoin, while seven-time Super Bowl champion Tom Brady recently confirmed that he holds undisclosed cryptocurrencies.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Source: https://decrypt.co/72564/nfl-russell-okung-bitcoin-elon-musk-stick-to-space

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Saylor Compares BTC to Early Apple: ‘No One Can Stop, and Few Understand’

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MicroStrategy CEO Michael Saylor has compared his early backing of Apple to that of bitcoin, calling the crypto “a dominant monetary network that everyone needs.”

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The bitcoin maximalist recently tweeted about an old video that surfaced. The video features Saylor talking about Apple and how bullish he was on the company back during the iPhone 5. Saylor commented in the video, saying “I would be very long on that company, whoever is selling that stock must be a moron.”

Saylor commented on the old video, this time relating his opinion to BTC. The founder of MicroStrategy, a company that provides business intelligence, mobile software, and cloud-based services, made references to early Apple growth and bitcoin. 

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In a tweet, he said “Apple was a dominant mobile network that everyone needed, no one could stop, and few understood. Bitcoin is a dominant monetary network that everyone needs, no one can stop, and few understand.”

MicroStrategy bullish on BTC 

Saylor and his company have been extremely bullish on BTC in recent months. Earlier this week, MicroStrategy announced that it would be selling $1 billion in stock to purchase more bitcoin. Saylor also joined the newly launched Bitcoin Mining Council which will look at how to make bitcoin mining more energy efficient in the future. 

The company has also recently sold $500 million in secured notes to raise funds to purchase more bitcoin. The company currently holds well over 90,000 BTC in its reserves, totaling more than $3 billion with no plans on slowing down anytime soon. However Saylor has previously stated that the entities he controls hold 111,000 bitcoin. 

The bitcoin maximalist has no plans on selling any bitcoin anytime soon. 

Speaking at the Parallel Summit 2021 earlier this week, Saylor also commented further on bitcoin, saying “I don’t think there’s any other asset where every intelligent person who understands it, decides to do everything they can to make it more valuable.” 

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All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Ryan is a Fintech specialist with a passion for cryptocurrencies and blockchain adoption. A keen trader and investor in the market since 2016, he enjoys keeping up to date with the latest developments within the industry while finding the next 100x altcoin.

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Source: https://beincrypto.com/saylor-compares-btc-to-early-apple-no-one-can-stop-and-few-understand/

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Bitcoin Price Showing Bearish Downtrend Despite On-chain Metrics Indicating Favorable Network Conditions

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The price of Bitcoin (BTC) has continued to drop as the premier cryptocurrency stays afloat a price well below its 7-day high of $41,295.27. At present, BTC is down 5.21% to $35,952.61 according to CoinMarketCap, a bearish positioning that negates the current favorable conditions of the Bitcoin blockchain. Since the price of Bitcoin began retracing from its All-Time High price above $64,000, the market trend has witnessed a more passive engagement from retail investors across the board.

This low activity rate is made more evident as Glassnode data showed that the cumulative or total fees paid on transactions in the network have attained their lowest level of 1.390 BTC in the past one year per a 7-Day Moving Average estimate. Based on a similar trend, the lower fees indicate a lack of congestion by users in the blockchain. 

This trend has its inherent impacts which are both negative and positive. On the negative end, the overall price of Bitcoin is kept low as inconsistent transactions and lack of buy-ups that stir a bullish run is absent. The positivity is best targeted at users as sending funds is now relatively cheaper, and more attractive.

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Investors Back US Traditional Markets: Impact on Bitcoin

Traditional market investors have pumped more than $756 billion in the daily reverse repurchase operation, a move that came after the Federal Reserve boosted interest rates for the traditional market offering. 

Following the meeting of the Financial Open Market Committee (FOMC) held last Wednesday, the interest rate for overnight repurchase agreement was adjusted to 0.05%, better than the 0% it has been, and the interest rate it pays banks on reserves held at the U.S. central bank was also boosted to 0.15%. These increments influenced the recorded inflows.

In tandem, the United States Dollar appreciated against other currencies on Friday, rising 92.70 against top fiat currencies. This may also account for the unrelenting sell-offs in the Bitcoin markets, as an appreciated Dollar is a cogent advantage for the market bears.

Economic policies from market watchdogs have an overbearing impact on Bitcoin and the cryptocurrency ecosystem as a whole. While many market proponents and bulls anticipate a resurgence in price amidst growing fundamentals, the current performance of Bitcoin does not discount the favorable nature of the network at present.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

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Source: https://coingape.com/86870-2/

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Decentral Games Announces $5M Capital Raise With New Partners

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Metaverse casino Decentral Games has announced its latest multimillion-dollar capital raise, owing to some brand-new partnerships

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The decentralized app (dApp) ecosystem revealed in a post, published on their website on June 18, that they had completed a $5 million capital raise. With their statement, they welcomed new partners across the globe. More specifically, they have forged official partnerships with crypto investment firms and networks such as Collab+Currency, Genesis Block Ventures, Cluster Capital, and AU21 Capital. ID Theory, a crypto-asset investment firm based in London, have also partnered with them.

In addition, Swiss venture capital firm Bitscale Capital, as well as Metaverse Ventures, a subsidiary of Digital Currency Group, are also on the list.

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The company stated that the additional capital will go towards bolstering its team in the product development and marketing departments. They noted that, to keep up with community demand, Decentral Games’ team had already increased from 10 to 43 employees.

Decentral Games also revealed they will use some of the money to accelerate development of additional features and future crypto-enabled games. The company named DG Poker, DG multi-table Tournament Poker, and DG CyberSakura Slots as examples.

The company also took to its official Twitter to release a 10-tweet thread, summarizing the highlights of this latest investment. They also elaborated on their growth, in line with that of their community. One tweet read:

“Since launching the $DG token and games on mainnet in December 2020, betting volumes have increased quarter over quarter and recently eclipsed a landmark $70 million. The DG DAO [decentralized autonomous organization] treasury remains well capitalized with over $8 million in assets.”

They noted their revenue, to date, was primarily made up of gameplay proceeds. Plus Polygon node staking rewards and sales of wearable non-fungible tokens (NFTs).

Existing partner send congratulations

One of Decentral Games’ biggest moves this year is their partnership with video game giant Atari. They announced their collaboration back in March, which was to launch a cryptocurrency casino. 

Atari sent Decentral Games a congratulatory message via the Atari Token (ATRI) official Twitter account.

The Atari Casino takes up a 20-parcel estate in the casino quarter of Vegas City on Decentraland. It launched with a virtual party at the end of April, featuring DJ Dillon Francis. The musician also collaborated with a visual artist to create three special NFTs, all inspired by Gerald the Piñata. They were auctioned off as part of the casino’s launch.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Dale Hurst is a journalist, presenter, and novelist. Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK. Cryptocurrency was one of the first subjects he specialized in when first going freelance in 2018, reviewing exchanges and analysing lawsuits.

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Source: https://beincrypto.com/decentral-games-announces-5m-capital-raise-with-new-partners/

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