Reddit Exploring Tokenized Points System on Ethereum
According to a user post, Reddit appears to be creating a blockchain-based points system. Using an ERC-20 token the system would allow "Community Points" to represent ownership of a subreddit. Here's how it works.
Over the years, platforms like Steem/Hive, Cent.io and Yalls.org have been trying to integrate social media with crypto but so far all their efforts have been met with limited success.
If Reddit (the 19th most visited site globally) rolls this out, they will be the first major social media platform to use crypto/blockchain to reward its users.
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A Bitcoin Fund is Now Publicly Traded on Canada's Largest Stock Exchange
3iQ, a Canadian cryptoasset portfolio manager, just received approval from the Ontario Securities Commission to launch a closed-end fund dubbed "The Bitcoin Fund" on the Toronto Stock Exchange (TSX).
The arrival of The Bitcoin Fund comes after years of continual talks with regulators. The fund listed 5M Class-A shares on the TSX starting at $10 per share… and buyers will be exposed to BTC’s price movements over time.
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Arthur Hayes of BitMex Sounds Off
CEO of BitMex Arthur Hayes is quite a mouthful at times but his latest blog post really nails it on the head. The gist? Long gold and BTC. Consider it required reading...
"If you think I’m full of [expletive], or a stark-raving Cassandra, remember what you believed in pre and post-COVID. Can your mental model revert back to January 2020? I will take my inflation adjusted pocket rockets (gold and bitcoin), and call your Bretton Woods seven two off suit. All in, mother [expletive's]"
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Tax-Free Investing in Crypto
Wish you could invest in crypto tax-free? If you have an IRA or 401(k), here's your chance.
If you're like most people, your IRA or 401(k) is a place where money is blindly stashed away. The tax benefits are undeniable, so year after year, you invest in the usual mix of stocks and mutual funds. But what if you could invest that money in crypto?
WELCOME TO A CRYPTO IRA – from BitIRA.
You see, we've discovered a little-known IRS Tax Law that actually lets you convert your IRA or 401(k) into crypto. Get all the upside of crypto, get all the tax benefits of an IRA – with ZERO tax consequences.
In the next few weeks, we're giving away a free info guide that reveals exactly how to make this move and how to get started.
Click here to get your FREE GUIDE on tax-free crypto investing.
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Q1 2020 Review: Macroeconomic Environment Takes Center Stage for Crypto
Don't have access to Messari's latest report (paywalled)? Check out Ryan Watkins thread recapping all of it.
Our favorite tidbits:
- On March 12th, now coinned "Black Thursday," ETH and similar tokens lost almost half their value
- ETH experienced their largest single-day loss since its inception. BTC had it's worst day in 7 years
- XRP was the worst performing altcoin during Q1 2020
- Solid recovery so far – Messari's smart contract platform composite index ended the quarter down only 4%
- An emerging 2020 theme: "ETH Killer's" becoming more saturated as more competitors go live
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Covid-19 Has Wiped Out 33% of Cryptocurrency Scammers’ Revenue, But That’s Not the Whole Story
Covid-19 has reduced revenue for the biggest cryptocurrency scammers, but given others a new narrative to fool victims with. Chainanalysis digs into all the data and assess these new threats in their latest blog.
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HTC is Bringing Crypto Mining to it's New Blockchain Phone
HTC has partnered with Mida Labs to allow users to mine crypto monero (XMR). How neat! 😉
Think again. Users will earn a fat $0.0038 per day on average. If XMR’s price doesn’t move, it will take users half a millennium to ROI on the purchase of the phone itself (~$700).
HTC says the effort is aimed at bringing further decentralization to crypto mining (Vitalik isn't a fan).
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Sweet Sweet Crypto Projects
Another week, another swath of crypto projects making big headlines...
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US Agencies Publish List of North Korea’s Alleged Crypto Crimes
Today the US gov outlined an aggressive set of countermeasures to stymie North Korea’s highly lucrative and often cryptocurrency-dependent global cybercrime campaigns.
For more reading, check out Coindesk and Chainalysis' recent in-depth look at how North Korea circumvents trade sanctions.
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China Developing a New Crypto-Inspired National Digital Currency
A Chinese National Digital Currency called DCEP is already in test phase, with leaked images of the app and AliPay Integration. Here's a great thread by @mattysino with all the details.
Meanwhile, China’s government is set to launch its national blockchain platform on April 25 which is aimed at helping companies deploy blockchain applications faster and cheaper.
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