Bitcoin and Ethereum had a significant drop and recovery this week. Here are a couple of simple BTCUSD and ETHUSD charts I generated from my personal crypto database.
Congrats to everyone who BTD on either of these.
There’s alot of discussion about where BTC and ETH prices could go but there are still a lot of naysayers. Some of the doubters are quite well read and know what they’re talking about. Could they still be wrong, I believe they are but it’s still important to hear arguments against bitcoin. Check out this really great read by Simon Wardley about the future of Bitcoin(written in 2013).
News
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BITCOIN COULD BECOME WORLD RESERVE CURRENCY, SAYS SENATOR RAND PAUL Bitcoin could become the world's reserve currency if more people lose trust in the government, said Senator Rand Paul, who accepted BTC donations in its 2016 campaign.
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Disney is launching NFTs
Disney is collaborating with Veve for its first NFT collection called the “Golden Moments”, which feature golden statues of the characters as digital collectables. -
Axie Infinity, Decentraland and ‘metaverse’ cryptos rally after Facebook rebrands to Meta Facebook’s decision on Oct. 28 to rebrand itself to Meta — to indicate its plans to build an avatar-filled metaverse — helped spark a speculative rally across cryptocurrencies that belong to similar virtual world projects
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Citigroup CEO: 'Very tangible benefits' come from digital currencies Citigroup’s CEO Jane Fraser says that digital assets provide benefits in the area of real-time payments.
Here’s an interesting Tweet showing the value of a dollar and what it bought/buys.
https://twitter.com/BrianRoemmele/status/1452277135079624713?s=20
“Save your money”
— Brian Roemmele (@BrianRoemmele) October 24, 2021
But how?
It becomes worth, less—over time.
The poor used to have no choice but to see their little wealth become devalued.
They did not have a special club or team.
Now they do.
It’s called #Bitcoin.
(Image the amazing @VisualCap https://t.co/U9bJiWpNEY) pic.twitter.com/kC8OlFZN0v
As the “irrational exuberance” continues, it’s worth noting that Shiba Inu is now valued higher than Nissan and LG Electronics even though, Mr. Musk has stated that he doesn’t own any.
Meme of the Week
In other irrational news, I finally jumped into the NFT space minting 3 NFTs in a public sale. This is my first and I have no idea what will happen but I thought it was a good way of upping my education by putting some money where my mouth is. I’m also planning to participate in another NFT pre-sale which was delayed. Keep your fingers crossed!
Speaking of NFTs. Next week is NFT.NYC. It’s a big conference with over 3,000 people expected at the main conference venue, not including smaller events happening around town. If you’re going do tag us (@invest_stream & @pjain) on some tweets!
Speaking of Twitter, I'm doing my first Twitter Space with the founder of Indian startup Chingari and the launch of their token for the creator economy. Join us on Saturday 30th of October 2021 at 9:30am EDT / 7pm IST
https://twitter.com/i/spaces/1ynKOZQpBzExR
This post originally appeared in my Substack newsletter.