Robert Kiyosaki – founder of Rich Global LLC and Rich Dad Company – recently told his followers to invest in Ethereum before “the biggest crash in history.” Thus, the author of the best-selling book Rich Dad Poor Dad added ETH to BTC, gold, and silver as his most-preferrable investment instruments.
Kiyosaki’s Plea: Invest in Crypto
The multi-millionaire businessman and author issued his warning earlier this week on Twitter. He made an extremely pessimistic forecast for global financial markets, given the current state of US politics and Evergrande’s debt.
“US Gov out of money. Shutdown looming. Dems blame Republicans for the problem. Evergrande– China’s biggest property developer with 800 projects in 200 cities– out of money. Get the message? Get gold, silver, Bitcoin, ethereum before the biggest crash in history. Take care.”
Kiyosaki is known for his aversion to fiat currencies due to their rampant inflation and his preference for stocks, real estate, and metals as a store of value. He welcomed Bitcoin among these a while ago and even considered buying more BTC during its most bearish point this year.
However, this marks one of the first times Kiyosaki has mentioned Ethereum as one of these safe-haven assets. Ethereum’s price tends to move more erratically than Bitcoin in the short term. However, it has generally followed the primary cryptocurrency’s movements across time.
Stop Arguing, Start Buying, says Kiyosaki
For Kiyosaki, the particular asset class he invests in is almost irrelevant. His wish is simply to avoid the collapse of fiat and the traditional monetary system, which he sees as inevitable.
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He aired his feelings on this matter in March, during a Defi-focused episode of his podcast. He also said that he was personally invested in Ethereum.
“So I’m just grateful I have a lot of gold, silver, Bitcoin and Ethereum and I don’t get into the argument. Peter Schiff is always arguing about gold and silver and Max Keiser’s arguing back, and I think, ‘Why the heck are you guys arguing?’
Just get as much as you can right now because the government is screwed. We’re screwed. Our whole economy is screwed. We’re so deeply in debt, it’s like sinking into quicksand right and you’re arguing about gold, silver, Bitcoin. Just buy something.”
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Salvadoran President Nayib Bukele claims that 2.1 million of his fellow citizens are using the government-backed Chivo cryptocurrency wallet, offering a glimpse into the apparent success of the country’s Bitcoin (BTC) gambit.
The controversial president updated his 2.9 million Twitter followers Saturday afternoon, claiming that Chivo “now has more users than any bank in El Salvador” after just three weeks in operation. Bukele indicated that it’s only a matter of time before Chivo adoption eclipses all banks in El Salvador combined.
2.1 million Salvadorans are ACTIVELY USING @chivowallet (not downloads).
Chivo is not a bank, but in less than 3 weeks, it now has more users than any bank in El Salvador and is moving fast to have more users that ALL BANKS IN EL SALVADOR combined.
This is wild!#Bitcoin
— Nayib Bukele (@nayibbukele) September 25, 2021
The state-issued Chivo wallet launched in early September as El Salvador officially recognized Bitcoin as legal tender — a landmark move that could offer an important case study for other countries in the region. Chivo enables individuals and businesses to send and receive payments in Bitcoin or dollars from anywhere in the world. The wallet is available on both Android and Apple devices. As Cointelegraph reported, Mexican cryptocurrency exchange Bitso has signed on as the core service provider for Chivo.
Related:El Salvador’s credit rating could take a hit amid Bitcoin adoption, warns S&P Global
Bukele’s latest update suggests that the Bitcoin Law is being received favorably across the country, even as hundreds of anti-government protestors took the streets to voice their opposition. On Sept. 15, those protests culminated in the burning down of a crypto kiosk in the nation’s capital city.
To be sure, mass adoption of Chivo is due in part to the government airdropping $30 worth of BTC to every Salvadoran account holder. According to a recent survey from São Paulo-based agency Sherlock Communications, slightly more than half of Salvadorans have no familiarity with Bitcoin.
In the meantime, Bukele’s government has been filling its coffers with BTC following a series of volatile price swings for the digital asset. El Salvador “bought the dip” on at least two recent price drops — Sept. 7 and Sept. 20 — bringing its total holdings to 700 BTC.
The chief executive officer of crypto wallet company Strike says that Bitcoin (BTC) will impact the payments industry once combined with one of the biggest internet networks.
CEO Jack Mallers says in a new CNBC interview that his company’s recent partnership with Twitter to bring BTC tipping to the social media giant will make paying people as easy as messaging them over the internet.
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“We’re using Bitcoin to make tweeting at someone as easy as sending money to someone, anywhere in the world, any time, any place, any currency, it doesn’t matter… You have absolute payment disruption that’s been a long time coming.”
BTC is the first currency in human history that can instantly be transferred anywhere in the world, according to Mallers.
“Can the dollars that are sitting in my pocket land in another country in less than a second at no cost? No. How can any money do that? It has to be natively digital… That is the innovation of Bitcoin.”
He also says that Bitcoin as a commodity should be viewed differently than Bitcoin as a network and that Twitter’s new tipping feature doesn’t necessarily need to use BTC as an asset.
“There is a difference between Bitcoin the asset, it’s this commodity-like precious metal-like asset, and then there’s Bitcoin the network, [which] is a monetary network like the Visa network… and it achieves monetary functions on a global network – instant global cash finality.
In the Twitter Tips product, as it is today, as it’s rolling out as we speak, nobody’s touching Bitcoin… You don’t need to touch the asset to gain benefits from the network.”
Bitcoin is exchanging hands at $42,979 at time of writing, a 12% decrease from its seven-day high, according to CoinGecko.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
The strategic partnership aims to introduce Cardano’s blockchain technology to DISH’s telecom services, likely to boost Cardano’s adoption and benefiting DISH’s users with 8 million digital identities (D.I.D) on phones satellite.
DISH and Cardano
Speaking at the Cardano Summit 2021, Hoskinson said that while the main idea was to create a network where users can move seamlessly from one space to another, the underlying business infrastructure has remained “ossified.”
“We think there’s a lot of intersection between the use of identity the movement of data capacity exchange and other things that can be done and explored.
And it can be done at a scale of millions to tens of millions, and eventually at a global scale. So, this is a super exciting relationship we can’t wait to see how it goes.” Said Hoskinson.
The IOHK founder added that he hopes the partnership will transform the entire model of the Telecom industry despite the challenges of implement blockchain technology into the field.
According to him, millions of DISH users will have network connectivity with Cardano, without the influence of centralized corporations. If it becomes successful, it could turn into the default business model for the telecom space.
DISH is one of the largest Telecom services, with over 19 million customers, that gives users full control of every aspect of their accounts. The company is also one of the first public companies to accept crypto payments, and is listed as a fortune-500 company.
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ADA Remains Green in a Red Market
This and other positive news are pushing ADA’s price to higher levels, despite the bearishness surrounding the recent recycled Chinese FUD. As CryptoPotato reported earlier today, Cardano was Friday’s exception by remaining on the green while the altcoin market shed blood.
As press time, ADA is trading at $2.32, with a market cap of $75.5 billion, according to CoinGecko. ADA is now the third biggest cryptocurrency, following BTC and ETH.
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Coming every Saturday,Hodler’s Digestwill help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Crypto markets soar after Fed commits to printing and Evergrande plans to pay its debt
The crypto markets were showing signs of recovery during the week as the U.S. Federal Reserve committed to carrying on its spending habits, while Chinese real estate giant Evergrande was able to strike deals with bondholders to avoid default on its hefty loan obligations.
Evergrande’s potential default on $305 billion worth of debt has essentially been a ticking time bomb that has loomed over the global financial market, with some asserting that this is China’s Lehman Brothers moment. However, the firm is safe for the immediate term, and the news coincided with an 11.3% bump in Bitcoin’s (BTC) price on Tuesday.
The spike in price also followed comments from Fed Chairman Jerome Powell, who explained that the central bank plans to continue its ridiculous level of monthly bond purchases for the foreseeable future. Both reports suggest that FUD related to Evergrande and the Fed’s spending habits can now be shelved for a later date.
Old FUD, new BTC price dip — Weeks-old China crypto ‘ban’ sparks $42K Bitcoin price drop
Speaking of FUD, the crypto market recovery appears to be short-lived as old news regarding China was suddenly picked up on social media, sparking an instant price crash across the crypto market.
At the time of writing, Bitcoin is down 2.7%, Ether (ETH) is down 6.4%, and FUD is up 100%. This knee-jerk reaction was the result of a memo from the People’s Bank of China, or PBOC, that criminalized practically all crypto activity except possession.
Chinese-language commentators noted, however, that the PBOC released the updated guidance on Sept. 15 but posted it online on Friday.
It seems odd that the market has responded to China banning crypto again, as it’s not like the local government has done anything to foster excitement about digital assets in the country of late. At this stage, they might as well get it over with and ban possession too.
Biden to nominate anti-crypto and anti-big bank law professor to run the OCC
On Thursday, reports surfaced that the Biden administration intended to nominate Kazakhstani-American attorney, academic, and former policy advisor Saule Omarova to head the Office of the Comptroller of the Currency, or OCC.
Omarova is a crypto critic who is also not so fond of the big banks, having previously vowed to “end banking as we know it.” Currently employed as a law professor at Cornell Law School, she is expected to clamp down on crypto with tighter regulation, as she thinks the industry threatens the stability of the economy.
If confirmed, bankers and crypto proponents alike may be in for some hairy moments as Omarova single-handedly works to tear down both sectors under the guise of protecting the economy.
Sports-themed NFTs spark gold rush as projects raise $930M in a week
To cleanse the palate, there was bullish news in the NFT sector this week as two firms known for tokenized sports collectible projects raised a combined $930 million in funding.
French-based soccer trading card NFT game developer Sorare closed a $680 million Series B funding round led by SoftBank at a valuation of $4.3 billion. Dapper Labs, the team behind the Flow blockchain and NBA Top Shot, also announced a $250 million funding round led by tech-focused hedge fund Coatue.
Sorare and Dapper Labs both outlined plans to expand their tokenized collectible model beyond soccer and basketball, respectively, along with scaling up their current widely popular NFT projects. The combined total of $930 million marks a significant bet on the tokenized sports sector at a time when the wider NFT market faces declining sales volume and floor prices.
John Cena calls his own NFT sales a ‘catastrophic failure’
John Cena, the WWE hall-of-famer known for his braggadocious “you can’t see me” catchphrase, recently saw limited sales during his foray into nonfungibles.
The professional wrestler said that fans only purchased 7.4% of his WWE NFTs that were dropped last month, labelling the sale a “catastrophic failure” and citing the price point for the gold-tier NFT package as being too high at $1,000.
There were 500 gold tier NFTs offered in total, which were part of a package with physical collectibles, including a hat, shirt, wristbands, belt, towel, and autographed picture.
“I talk a lot about failure — this idea failed,” said Cena. “Myself and the folks in the WWE thought $1,000 was a fair price point. We were wrong. We were absolutely wrong.”
Winners and Losers
At the end of the week, Bitcoin is at$42,223, Ether at$2,905and XRP at$0.93. The total market cap is at$1.88 trillion,accordingto CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Celo(CELO)at 49.84%, Celer Network(CELR)at 34.97% and Cosmos(ATOM)at 17.34%.
The top three altcoin losers of the week are Huobi Token(HT)at -32.21%, SushiSwap(SUSHI)at -28% and EOS(EOS)at -26.22%.
For more info on crypto prices, make sure to readCointelegraph’s market analysis.
Most Memorable Quotations
“We have absolutely no intention of embracing cryptocurrencies. […] On the contrary, we have a separate war, a separate fight against them. We would never lend support to [cryptocurrencies], because we will move forward with our own currency that has its own identity.”
Tayyip Erdoğan, president of Turkey
“A Matisse painting can run $100 million because a small amount of people decide they’re worth $100 million. Over 150 million people around the world that have decided Bitcoin is worth something. That’s enough for me.”
Mike Novogratz, CEO of Galaxy Digital
“Stablecoins are almost acting like poker chips at the casino right now.”
Gary Gensler, chairman of the U.S. Securities and Exchange Commission
“Ninety-nine percent is about being in the right circle, having the right information at the right time. In the NFT space, you live with this constant frustration that you have missed a chance to make $1 billion.”
Gauthier Zuppinger, chief operating officer of Nonfungible.com on NFT investing
“I know the crypto lovers never want to hear me say ‘sell,’ but if you’ve got a big gain as I did, well, I’m begging you to. Don’t let it become a loss; sell some. Stay long the rest, then let’s wait and see if China changes its attitude toward an Evergrande bailout.”
Jim Cramer, host ofMad Moneyon CNBC
“I think we should always be open-minded and, as such, I’m very interested in all new creations and expressions from the art world. Metaverses will emerge, but I still believe physical art will always reserve a very special place in everyone’s collection.”
Elio D’Anna, founder of HOFA
“The ultimate test we will apply when assessing a central bank digital currency and other digital innovations is, ‘Are there clear and tangible benefits that outweigh any cost and risks?’”
Jerome Powell, chairman of the U.S. Federal Reserve
“I’m uncomfortable with any non-physical currency being the only currency.”
LordPimpernel, Texan and Redditor
Prediction of the Week
Bitcoin ‘heavy breakout’ fractal suggests BTC price can hit $250K–$350K in 2021
A Bitcoin analyst by the name of Bit Harington on Twitter recently posted a chart suggesting a possible upcoming price rally for BTC, if history repeats itself.
Harington drew levels on top of a Bitcoin price chart from Buy Bitcoin Worldwide and Twitter user PlanB. Harington’s levels essentially showed Bitcoin price resistance levels following Bitcoin’s 2012 and 2016 halvings. On both occasions, price rejected off the resistance levels, gathered steam, and then broke through the levels later, leading to significant rallies.
Following those price rallies, Bitcoin then eventually returned to those breakout levels, finding them as support. Harington listed the new resistance level as $60,000 on their chart. So far, the chart shows Bitcoin rejecting off that level, subsequently finding support and looking upward back toward the resistance level.
Harington noted that BTC jumped above the two previous resistance levels by a factor of about six each time. Analyst Michaël van de Poppe took a peek at the chart, crunched some numbers, and determined that BTC could reach up near $250,000 to $350,000, followed by a drop back down near $65,000 if BTC reacts similarly to the past.
This week, however, Bitcoin faced a number of downward price moves andcomments indicating future bearish expectationsfor crypto surfaced.
FUD of the Week
‘We are at war’ with crypto, says Turkish President Erdoğan
According to Turkish President Recep Tayyip Erdoğan, the country is at war with cryptocurrency but quite fond of blockchain tech.
Erdoğan hosted a Q&A event in Mersin, Turkey with naive youth from across the country who had no idea that crypto was posing a threat to their sovereignty. When asked for his opinions on cryptocurrencies, and whether the central bank would embrace crypto, Erdoğan didn’t mince his words when he said, “We have absolutely no intention of embracing cryptocurrencies.”
“On the contrary, we have a separate war, a separate fight against them. We would never lend support to [cryptocurrencies], because we will move forward with our own currency that has its own identity,” he added.
Binance to cease crypto futures and options in Australia
The world’s biggest crypto exchange Binance has yet again limited its services in another country after crypto investors in Australia were notified that they have 90 days to close their positions for futures, options and leveraged tokens.
As of Friday, Aussies are no longer able to increase or open new positions for derivatives products on Binance. However, they will still be able to top-up their margin balances to prevent liquidations and margin calls in the meantime.
According to the latest announcement, Binance’s crypto futures and options market will cease on Dec. 23 as the firm restructures itself in order to reach its regulatory compliance goals.
“We are committed to our industry for the long term and we want to ensure our product offerings are welcomed by users and local regulators,” a spokesperson for Binance told Cointelegraph.
Latest DeFi hack targeting BSC sees $12.7M in Bitcoin stolen from pNetwork
Cross-chain DeFi platform pNetwork became the latest protocol to be hacked on Binance Smart Chain after the team reported a loss of roughly $12.7 million worth of Bitcoin on Monday.
According to a Twitter thread published by pNetwork, the hackers swiped 277 pBTC from the exchange — the majority of the network’s collateral. The team noted the attack was executed by exploiting a bug in its codebase, adding that a fix was already in the works.
The pNetwork team was also kind enough to offer the hacker a $1.5 million bounty if the stolen funds were returned.
Best Cointelegraph Features
Ethereum killers or just pretenders? But Ether remains king for now
The issue of high gas fees rears its head up for the Ethereum community yet again as “Ethereum killer” networks continue to gain more attention.
Adapt or die: Payments giants partner with crypto firms to ensure security
Mastercard’s upcoming acquisition of CipherTrace demonstrates the need for payments giants to partner with crypto firms to enable digital asset innovation.
Ukraine joins the comity of crypto-friendly nations with new regulation
Unlike Russia, Ukraine has passed laws that will ease the adoption of cryptocurrencies within the country.
A move by China’s central bank to criminalize all forms of cryptocurrency trading – effectively making bitcoin illegal in the country – has failed to meaningfully impact the price of the world’s leading digital asset.
The clampdown came one day after Twitter announced that its 330m active users will soon be able to send bitcoin to each other instantly and for virtually zero cost – harnessing the Lightning network that’s been built on top of bitcoin’s primary layer and, many believe, will propel the cryptocurrency into the mainstream.
One bitcoin was worth $42,666 on the Bitstamp exchange at 16:00 EST Saturday, holding above its long-term moving averages and surpassing its value at the beginning of August.
The digital currency briefly dipped below $40,700 on Friday, when the so-called People’s Bank of China – a Communist government-controlled central bank – declared that all cryptocurrency-related activities were “strictly prohibited” in the country. Beijing accused the cryptocurrency industry of “disrupting economic and financial order” and “endangering the safety of people’s property”.
Bitcoin was launched in 2009 as an open-source monetary network that uses blockchain technology to create a secure form of digital cash entirely outside the control of central banks.
China was initially tolerant of the technology, but its opposition has grown in recent months.
In June, the authoritarian government banned local banks from enabling cryptocurrency transactions and outlawed the energy-intensive practice of bitcoin mining, in which specialist computers are put to work solving complex problems in a race to earn newly minted bitcoins.
MORE FOR YOU
That clampdown triggered a 20% crash in bitcoin’s price, yet the latest, more draconian measure has moved the needle by less than 5%.
Bitcoin was almost completely unchanged on Saturday, having found strong support at its 200-day exponential moving average.
And while mainstream media outlets like the BBC, Sky News, The Times and The Guardian rushed to report on the negative developments in China, news coverage of the positive adoption by Twitter TWTR was almost entirely restricted to financial outlets like Bloomberg and CNBC.
Twitter began integrating the Strike bitcoin Lightning wallet with its platform last week, enabling users to send and receive bitcoin as easily as tweeting out a thought.
The launch may have been largely ignored by the media, but its significance is hard to overstate. Critics of bitcoin have long argued that the cryptocurrency can’t be scaled for mass adoption because of its high costs and slow processing times. Average transactions on bitcoin’s primary layer typically cost around $8 and take about 20 minutes to be validated, although fees and timeframes vary in-line with network demand.
Lightning solves this problem by processing transactions through a secondary, off-chain layer that can, in theory, handle millions of payments a second (Visa, by comparison, processes about 1,700 payments a second).
Users interact with the Lightning network through purpose-built mobile wallets such as Strike and Muun. In El Salvador, which formally recognized bitcoin as legal tender this month, citizens are already making micro-payments for coffees and newspapers with their national digital wallet, Chivo.
As Strike founder and CEO Jack Mallers explained in a Twitter video demonstrating the new offering: “We just made an instant, free remittance payment, from Chicago, Illinois, USA to San Salvador, El Salvador over Twitter. Why would anyone ever use Western Union WU again? When you take one of the world’s largest social internet networks and you combine it with the world’s best open monetary network, Twitter accidentally becomes one of the best remitting experiences in the world.”
Given the lack of media attention, it’s no surprise that the Lightning network remains small today: less than 3,000BTC is currently locked in the protocol. But its capacity has risen steadily in recent weeks and is likely to surge as Twitter completes its integration for all users over the coming weeks.
China is, undoubtedly, worried about bitcoin – but not because of money laundering, phishing scams or economic destabilization.
China is worried because bitcoin gives its citizens the freedom to teleport their wealth around the world instantly at the click of a button – side-stepping the short-sighted, arbitrary capital restrictions that Beijing is no doubt planning in response to the Evergrande debacle.
If recent price action is anything to go by, their concerns are well-founded. A global superpower just declared war on bitcoin… and the market barely even noticed.
Solana (SOL) reached a $216 all-time high on Sept. 9 after rallying 508% since Aug. The bull run caused some analysts to project a $500 target which would translate to a $150 billion market capitalization.
It is worth noting that during SOL’s rally, the Ethereum network’s average transaction fee had surpassed $40. Surging interest in the NFT market accelerated investors’ transition to Solana, which was boosted by FTX’s NFT marketplace launch on Sept. 6.
Solana, Avalanche, and Cosmos price at Binance. Source: TradingView
The above chart shows SOL’s two-month performance compared to Avalanche (AVAX) and Cosmos (ATOM). Both are fighting for the same decentralized application user-base and offer faster and cheaper transactions compared to Ethereum (ETH).
Major players in the industry also invested in Solana’s ecosystem due to its potential against Ethereum. In June, Andreessen Horowitz and Polychain Capital led a $314-million funding round in Solana Labs, which was also funded by venture capital firm Andreessen Horowitz, Polychain Capital and Alameda Research.
Is Solana’s outage weighing on SOL price?
At SALT Conference 2021, Solana founder and CEO Anatoly Yakovenko told Cointelegraph that the network “is optimized for a specific use case: online central limit order book, a trading method used by exchanges that matches bids with offers. It was designed for market makers who need to submit millions of transactions per day.”
Yakovenko then added: “There are Pareto efficiency tradeoffs. If I optimize for hash power security, that means I can’t have a lot of TPS. You have to pick one or the other.”
Curiously, on Sept. 14, the Solana network experienced an outage that lasted over 12 hours. The team explained that a large increase in transaction load to 400,000 per second had overwhelmed the network, creating a denial-of-service that caused validators to start forking.
Solana futures aggregate open interest. Source: Bybt.com
Despite the recent setback, Solana futures markets aggregate open interest sits at $1 billion, a 640% increase in two months. This figure makes Solana’s derivatives market the third largest, behind Bitcoin (BTC) and Ether. This data confirms investors’ interest, but it can’t be deemed bullish because futures buyers (longs) and sellers (shorts) are matched at all times.
Derivatives markets point toward a balanced situation
To answer this question, one must analyze the funding rate. Perpetual contracts, also known as inverse swaps, have an embedded rate usually charged every eight hours. This fee ensures there are no exchange risk imbalances. A positive funding rate indicates that longs (buyers) are the ones demanding more leverage.
However, the opposite situation occurs when shorts (sellers) require additional leverage, and this causes the funding rate to turn negative.
As depicted above, the eight-hour fee reached a 0.12% peak on Sept. 5, which is equivalent to 2.5% per week. This momentary spike seized rapidly as SOL faced extreme volatility on Sept. 7. After peaking at $195, the SOL price crashed by 35% within 9 hours and liquidated leveraged positions, leading to the current balance between the longs and shorts.
Data shows no evidence of investors rushing to add leveraged long positions despite the current $1 billion open interest. Moreover, considering the 410% gain in the last two months, traders have reason to fear further downside because Bitcoin has also failed to break the $50,000 psychological barrier and it is yet to confirm if the recent sub-$40,000 dip was the short-term bottom.
The views and opinions expressed here are solely those of theauthorand do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Early Bitcoin developer and co-founder of Ethereum and Polkadot, Gavin Andresen, is outlining a future where BTC rises to a staggering $6,000,000 per coin.
Gavin Andresen, who took over as Bitcoin’s lead maintainer from founder Satoshi Nakamoto in 2011, just published a new blog post detailing how BTC’s theoretical evolution could look.
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Andresen describes a “possible” scenario where Bitcoin hits a price tag of $6,000,000 by 2061, transaction fees 326x higher than they are now, and the blockchain is used chiefly by whales.
“Imagine: it is the year 2061. The BTC price is six million US dollars – equal to about a million 2021 dollars because of inflation.
Miners are being rewarded 0.006103515625 BTC per block, plus transaction fees of about 5 BTC for 4,000 or so transactions ($7,500 per transaction).
But most BTC transactions don’t happen on the BTC network. Most BTC is locked up in multi-signature outputs secured using multiparty computation and mirrored on another chain as ‘wrapped’ tokens.”
In his scifi scenario, Andresen says those who do remain on Bitcoin’s network will be incentivized to keep it alive.
“The transactions that do occur on the main BTC network are high-value, mostly between super-whale-size holders…
These whales maintain the BTC network forever. They are the miners and the transaction creators; they don’t care how high transaction fees go, because they receive as many fees as they pay.”
However, Andresen says that by 2100, even those users would likely leave the blockchain.
“In the year 2100 the whales notice that the mining reward is basically zero… Eventually, there are zero new BTC being produced on the BTC network, and zero BTC circulating on the BTC network. There is nothing left to secure, and the chain stops.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
The Three Kingdoms is a highly strategic third-generation NFT game based on the historical characters of the Three Kingdoms period in ancient China. The historical characters enable users to have engaging gameplay while obtaining rewards for their achievements.
CryptoKitties was the first to bring blockchain gaming to life, and games such as Axie Infinity defined how a good blockchain game should be. The Three Kingdoms aims to build on this with their next-generation play-to-earn game.
The Next Generation of GameFi
What does the new era of play-to-earn games mean? The TTK team believes the current generation of NFT games has limited ways for players to earn in them. Additionally, they suffer from outdated and cartoony graphics and minimal gameplay features.
The Three Kingdoms team set out to build a blockchain game that features multiple methods never before seen in the GameFi market to earn tokens. Additionally, they are creating an authentic gaming experience that compares more to the AAA games us gamers have been accustomed to playing.
To achieve this, The Three Kingdoms will feature high-end graphics, a featureful game where users can collect NFT characters, complete quests and join siege gameplays to earn NFTs.
Furthermore, The Three Kingdoms will be the first game that incorporates the idea of battling and sieging cities and a deep, engaging storyline providing a breath of fresh air to the GameFi landscape.
In the game, users can also host, stake and monetize events. Build your base, expand your territories, upgrade your character’s attributes, win battles and emerge victorious in PVE and PVP battles.
The History of The Three Kingdoms
The Three Kingdoms is based in 220 AD, the final years of the Eastern Han dynasty. The Yellow Turban Rebellion broke out, with cities and regions forming their alliance for survival. Warlord Dong Zhuo seized control of the capital under the pretext of protecting the young emperor Cao Cao, who had gradually taken control of territories in the north, saved the emperor and led the central government. Still, formed clans are already eager for the chance to rule over China.
The country broke into civil war, and soon China was divided into three spheres of influence – Cao Cao dominating the north, Sun Quan, the south and Liu Bei, the west. The three fought for sixty years to conquer China, and this is where the story for the player begins.
The Three Kingdoms land is modeled after the historical map of China split into Wei, Shu and Wu regions. The land will be split into unique squares. For additional utility, these lands are where you can host, stake and monetize events. Conquer and own your base of operations where you can fight and expand your territory.
What’s Next for The Three Kingdoms
The Three Kingdoms team recruited games and NFT enthusiasts who wished to revolutionize the crypto landscape and become part of something bigger.
The Three Kingdoms is well underway, with plans to begin passive gameplay in Q4 of 2021. Referred to as ‘phase zero,’ users will be able to earn NFTs by recruiting heroes via outskirts. The team also plans to include additional gameplay features, such as the ability to siege empty cities (stake NFTs) and occupy cities (earn APY, in-game currency and NFTs) in 2022 (‘phase one’).
‘Phase two’ will feature PvP, where users can attack and defend cities. The attacker and defender both stake NFTs, with the winner earning an APY, currency, NFTs and attributes.
Finally, ‘phase three’ will be the introduction of active gameplay via the arena and tournaments. Players will be able to stake their NFTs against other players in a winner-takes-all battle.
About The Three Kingdoms
Collect your favourite Three Kingdoms characters and battle for a piece of land that only you can truly own.
The Three Kingdoms is a third-generation NFT game that adopts the ‘Three Kingdoms’ storyline. Prepare to immerse yourself in a gaming experience enriched with extensive history, well-developed characters, progression gameplay and more. Prepare your heroes for battle, siege cities and win battles to expand your own land.
Be your own hero in the land of The Three Kingdoms.
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This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
September 25, 2021 – Tortola, British Virgin Islands
Play-to-earn blockchain games continue to take the world by storm, and Kawaii Islands is ready to throw its hat into the ring. Following a $2.4 million private token sale round, the NFT-based blockchain game will debut in September 2021.
As an enchanting fantasy game in the cloud, players can simultaneously experience simulation gaming, including building, crafting, farming and social networking.
Global investors have shown a keen interest in the play-to-earn blockchain gaming industry. Dozens of game offerings seek to empower players by letting them earn in-game items and sell those for real cash. Through active marketplaces, game developers and publishers can create a different level of player interaction. Kawaii Islands is one such game that seeks to empower players and bring value to the KWT token.
Kawaii Islands gamifies decentralized finance (DeFi) mechanics to make players combine entertainment with earning money. The possibilities are limitless, as players can build their on-chain business and expand their creativity. Kawaii Islands integrates both off-chain activities like growing and raising magical resources and on-chain tasks like crafting furniture for home decorating, providing challenges to earn in-game currency and more. Additionally, the social aspect of this play-to-earn game introduces an extra layer of entertainment and competitiveness.
The vision of Kawaii island has attracted the attention of many prominent investors. The team behind the play-to-earn game raised $2.4 million in a private tokens sale round led by MapleBlock and Signum. Noteworthy investors include DFG, JSquare, AU21, Rikkei Capital, SL2, Chainboost, Polygon,OKEx Blockdream Ventures, KardiaChain, Polkastarter and others. The successful sale round confirms the team’s vision for play-to-earn gaming and the validity of its overall model.
Vijay Garg, CEO of Mapleblock Capital and the lead investor of the project, said,
“Kawaii Islands has strong design elements and fun mechanics that were inherited from its predecessor game series. The AI-powered verification of on-chain game NFTs will unlock a deeper layer of engagement compared to traditional gaming.”
The anime metaverse created by Kawaii Islands puts the player in complete control. Creativity can run wild through the crafting, decorating, styling and social networking aspects. Those with artistic and storytelling skills will create a web 3.0 economy within the game under a ‘create-to-earn’ model. It is the first time a blockchain-based play-to-earn game introduces such functionality on a large scale.
An alpha version of Kawaii Islands will go live this month, allowing players to explore this anime metaverse and tailor the gaming experience to their preference. In addition, all in-game achievements and accomplishments will earn players tokens, which are used to purchase assets in the game.
The roadmap for the game includes various to-be-unlocked milestones including NFT farming, KWT staking, seasonal events, renting and the opening of one’s online business on-chain. Kawaii Islands welcomes anyone and everyone who likes to explore a fully customizable anime metaverse filled with objectives and social activities.
About Kawaii Islands
Kawaii Islands is an exciting NFT play-to-earn game debuting this September. The game creates a fantasy universe on the cloud for multiplayers to experience a whole set of simulation gaming including designing, building, crafting, farming and social networking. Especially by gamifying several DeFi mechanisms Kawaii Islands will bring players a new dimension of mixed entertainment and earning.
Players will need tokens to execute several crafting and social activities in Kawaii Islands while greatly earning back tokens for their achievements in the game.
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
