Crypto Guides, Knowledge & Insights

Bitcoin's Unknown Creator Satoshi Nakamoto Is Now the 20th Wealthiest Person on Earth

In mid-April the creator of the Bitcoin network, Satoshi Nakamoto entered the world‘s top 20 richest billionaire list but after bitcoin’s price dropped, the inventor‘s wealth plummeted. This week, Nakamoto has once again joined the top 20 richest people on the face of the earth. The last time, Nakamoto made the 19th position, and this time around, Bitcoin’s inventor is now the 20th richest person(s) on the face of the planet.　　6 Months After Bitcoins All-Time High, Satoshi Nakamoto Becomes the 20th Wealthiest Person in the World　　The leading crypto asset bitcoin (BTC) has skyrocketed past the $60K handle and tapped a high of $62,945 on Friday. Using today‘s exchange rate and the estimated stash of bitcoin Satoshi Nakamoto reportedly owns, indicates that Bitcoin’s inventor is the 16th richest person or persons worldwide. The last time Bitcoin.com News reported on this subject, Nakamoto climbed from the 159th richest person in the globe to the 19th in a mere five months. Using todays BTC exchange rates on October 17, 2021, six months later, Nakamoto is now the 20th richest person(s) worldwide.　　A report from Whale Alert that studies the “Patoshi Patterns.” In this report, it is assumed that Satoshi Nakamoto may own 1.125 million

2021-10-18Deep Dive

Barry Silbert on Converting GBTC Into ETF: "Stay Tuned"

Barry Silbert, CEO of Digital Currency Group, urged his followers to “stay tuned” in response to a tweet about potentially converting its Grayscale Bitcoin Trust into a physically-backed exchange-traded fund.　　ProSharess Bitcoin futures ETF is set to start trading on Monday after it was greenlit by the U.S. Securities and Exchange Commission earlier this week.　　However, the regulator has so far shot down all the proposals to launch an ETF that will not track the price of Bitcoin directly due to concerns about investor protection. Instead, investors will have exposure to the Chicago Mercantile Exchanges futures contracts.　　Joe Orsini, director of research at Eaglebrook Advisors, has outlined some risks associated with a futures-based ETF in his recent thread, claiming that it will be applicable for intra-day trading instead of long-term investing.　　Last month, Grayscale CEO Michael Sonnenshein opined that approving a futures-based ETF before a spot-based one would be a “short-sighted” decision.　　According to a Thursday report by CNBC, the company is very close to filing with the SEC in order to convert GBTC into a spot-based ETF.　　As reported by U.Today, Grayscale hired ex-Alerian CEO David LaValle to work on such a plan this September.　　The leading cryptocurrency asset manager confirmed that it was intending to

2021-10-18Deep Dive

El Salvador's Vice President Expects Other Countries to Adopt Bitcoin

El Salvador‘s Vice President Félix Ulloa recently predicted that other countries are going to follow the tropical nation’s Bitcoin adoption model during a meeting with Pascal Drouhaud, vice president of the LATFRAN association, according to a report by local media outlet Diario La Huella.　　Ulloa expects poverty-stricken El Salvador to become an economic and financial hub because of its audacious bet on Bitcoin.　　In addition, he claims that Bitcoin will benefit an estimated 1.17 million Salvadoran immigrants who reside in the U.S.　　 Rapid adoption　　According to Ulloa, the number of people who have a Bitcoin wallet is now twice as big as the number of bank account owners in El Salvador.　　This, as the politician believes, highlights the level of confidence that Salvadorans have in Bitcoin.　　The adoption of Bitcoin in El Salvador was accompanied by a slew of protests, but the opposition stopped short of stopping the law from officially coming into effect in early September.　　Much of the criticism that the Bitcoin bill has received was directed at Article 7, which forces businesses to accept the largest cryptocurrency.　　As reported by U.Today, Ethereum co-founder Vitalik Buterin described El Salvadors Bitcoin experiment as “reckless.”　　 Bukele vs. Hanke　　Following Bitcoins rally to $60,000, El Salvador President Nayib Bukele

2021-10-18Deep Dive

BTC At $60k: “Big Short” Investor Burry Says Bitcoin Is In A Speculative Bubble That Could Burst

Michael Burry is termed as “the biggest short” for successfully profiteering from short-selling house markets during the 2008 financial crisis, except that he is not shorting Bitcoin for now because he thinks it is a sham.　　He took to Twitter on Friday claiming that the huge volatility in the market does not make Bitcoin a good bet.　　“Ok, I haven‘t done this before, how do you short a cryptocurrency？. Do you have to secure a borrow？ Is there a short rebate？ Can the position be squeezed and called in？ In such volatile situations, I tend to think it’s best not to short, but Im thinking out loud here,” he tweeted.　　Burry said that cryptocurrencies are driven by sheer speculation which is now reaching its insane height right now, meaning the downfall is imminent and would be tragic and very painful. He has since deleted these tweets and his account too.　　His critical comments came shortly after the renewed bull market, with Bitcoin registering massive price gains since Thursday.　　Burry has stayed critical about cryptocurrencies and seems not deterred by their upsurge. He recently claimed crypto bots have been commenting heavily on his tweets to achieve a high ranking or approval, one of the reasons he

2021-10-18Deep Dive

Facebook: Investing in European Talent to Help Build the Metaverse

Facebook is at the start of a journey to help build the next computing platform. Working with others, were developing what is often referred to as the metaverse — a new phase of interconnected virtual experiences using technologies like virtual and augmented reality. At its heart is the idea that by creating a greater sense of “virtual presence”, interacting online can become much closer to the experience of interacting in person. The metaverse has the potential to help unlock access to new creative, social and economic opportunities. And Europeans will be shaping it right from the start.　　No one company will own and operate the metaverse. Like the internet, its key feature will be its openness and interoperability. Bringing this to life will take collaboration and cooperation across companies, developers, creators and policymakers. For Facebook, it will also require continued investment in product and tech talent, as well as growth across the business.　　So today, were announcing a plan to create 10,000 new high-skilled jobs within the European Union (EU) over the next five years. This investment is a vote of confidence in the strength of the European tech industry and the potential of European tech talent.　　Europe is hugely important to Facebook.

2021-10-18Deep Dive

Petition to List "Dogecoin Killer" Shiba Inu on Robinhood Surpasses 250,000 Signatures

A Change.org petition calling for Robinhood to add Dogecoin rival Shiba Inu has surpassed 250,000 signatures.　　The target of 300,000 signatures now appears to be well within reach for the community.　　Earlier this month, Shiba Inu, which was launched by a pseudonymous developer called “Ryoshi” last year, experienced a resurgence in popularity after it surged 315% within just four days.　　Over the past two months, the Ethereum-based “Dogecoin killer” has been listed on several cryptocurrency exchanges, including Coinbase.　　The aforementioned petition describes Shiba Inu as a “meme coin with genuine potential.”　　Robinhood added support for Dogecoin all the way back in July 2018, just months after launching zero-commission trading for Bitcoin and Ethereum.　　In the second quarter, the biggest canine cryptocurrency accounted for more than a quarter of the companys total transaction-based revenue.　　The popular trading app hasn‘t indicated whether or not it’s ready to list Shiba Inu.　　Last month, Robinhood announced that it would also start gradually adding enabling wallets for its users.　　For more blockchain news, please download WikiBit- the Global Blockchain Regulatory Inquiry APP.

2021-10-18Deep Dive

This photographer is celebrating Stephen Hawking by minting an NFT of his most famous photo

Art is ever-changing. Styles, color palettes, and different types of media can fall in and out of favor. But as adaptable and ever-changing as it may be, one thing remains constant — art is about challenging, changing, and shifting the perspective of the viewer.　　Many believe that NFTs are opening a whole new world of artistic accessibility and NFTs are no longer just a novelty. The unique format allows for both exclusivity and universal sharing. And now, famous artists and photographers are entering the NFT space.　　One notable example recently came to market: “Stephen Hawking” by professional photographer David Gamble.“Stephen Hawking”: A Pivotal Portrait　　Hindsight is 20/20. When Time Magazine asked British-American photographer David Gamble to photograph Stephen Hawking in 1988, no one could have predicted how instrumental and influential the photograph would become.　　That same year of the photographs publication, Hawking asked Gamble if the photograph could be used on an upcoming book cover.　　That would be the book that shot Hawking to fame. His seminal work, A Brief History of Time, would go on to sell millions of copies around the world.　　To consider the full impact of the photograph, its also important to consider what was going on in the art world.　　It was

2021-10-17Deep Dive

Crypto traders fight in WBS Dubai for Amir Khan’s charity boxing match

The World Blockchain Summit in Dubai hosted an exhibition boxing match between top cryptocurrency traders and influencers for the WBC Crypto Belt. The fights were supported by a charity event, featuring an auction of memorabilia including digital currency assets and nonfungible tokens (NFTs).　　What started off as a conversation for a friendly match with a small audience, saw the involvement of two-time World Boxing Champion Amir Khan and the Super Boxing League (SBL) as the organizer, in association with ByBit crypto exchange and World Boxing Council.　　The event saw friendly boxing matches between prominent Crypto Twitter entrepreneurs such as Luke Martin (@VentureCoinist) Vs. Louis (@barneytheboi) and RookieXBT (@RookieXBT) Vs. loomlock.eth (@loomdart). The winners of the events were Louis and RookieXBT respectively, with RookieXBT taking the WBC Crypto Champion belt.　　Here’s the Cointelegraph footage of RookieXBT’s knockout moment:　　According to a conversation with Cointelegraph at the WBS press conference, the crypto traders-turned fighters have trained for months day in day out, “no parties, no drinks, just hard work.” In addition, the boxing match attracted many crypto enthusiasts across the world that participated in the charity event, which will be donated to the Amir Khan Foundation.　　Khan, too, shared his excitement about SBLs involvement with the crypto

2021-10-17Deep Dive

Op-Ed: Crypto needs easy-to-use non-financial products

The online community is not always the most welcoming of ‘no-coiners’ (people who, for various reasons, don‘t own cryptocurrency). Many people who don’t have access to technology or associate it with negative implications stay away from developing a more in-depth understanding. 　　While some may say “have fun staying poor,” those that are interested should be able to learn about these tools and their applications without being overwhelmed by all the jargon or criticism out there on this topic.　　We know that it‘s easier for people from first-world countries to understand modern financial technology. That is because they grew up with a cultural understanding of how things work, unlike those who didn’t grow up in such environments. If our crypto startups and products focused more on ease-of-use, then we would be able to bridge this gap between developed nations versus developing ones!　　Simply put: Crypto startups need better UI/UX (User Interface Design). This way there will not only be less confusion among users but also help us alleviate any divides based on country status or location.　　On the other hand, developing countries really only know how to pay bills and that you need cash for some things and credit cards for other things. 　　When

2021-10-17Deep Dive

Next Earth NFT Project Donates Additional $64,260 to Charity

One of the latest new NFT projects, Next Earth, was created with a dual purpose in mind: To create the first blockchain-based replica of our planet, and to contribute to the environment in the process.　　Next Earth is making strides on both ends, having sold over $1.3 million in the worlds first Initial Tile Offering, of which over $130,000 was donated to The Ocean Cleanup and Amazon Watch. In that initial donation, a simple Discord-based poll was used, in which community members voted on the allocation of proceeds to each charity.　　Now, Next Earth has taken it up a notch with their charity DAO, or Decentralized Autonomous Organization.Whats the Next Earth DAO？　　The Next Earth DAO was recently used to determine the allocation of new funds across four charities: The Ocean Cleanup, SEE Turtles, Kiss the Ground, and Amazon Watch. In September, Next Earth sold around $640,260 worth of virtual real estate, 10% of which is pre-allocated for charitable contributions. With the Next Earth DAO, virtual landowners decided how that 10% would be split up.　　These landowners decided that The Ocean Cleanup would receive the largest share of the proceeds, at 86 BNB, followed by SEE Turtles receiving 24.57 BNB, Amazon Watch receiving 18.25

2021-10-17Deep Dive