PayPal To Enable Crypto

The Good:

PayPal enabling cryptocurrency (Bitcoin, Ethereum, Bitcoin Cash, Litecoin) will give 300M+ new users access to price movements of this new asset class. This will be a huge opportunity to educate those who have never used cryptocurrency but have used traditional fintech apps in the past. Many people still don’t understand what makes Bitcoin and Ethereum so special so hopefully PayPal will introduce a Learn to Earn campaign where customers can learn about various cryptocurrencies, use them, and ultimately own them.

The Bad:

Not your keys, not your coins. Users will not have access to a private key which secures their funds on the public blockchain. Rather, users will have a login to PayPal which makes PayPal the custodian of the crypto and allows the customer to transfer it within PayPal walls. This means no sending money permisionlessly or trustlessly which is one of the main reasons for Bitcoin in the first place. We will have to wait and see if they enable Web3 for Ethereum or not.

The Unknown:

Will traditional fintech app users want to get involved with Bitcoin and Ethereum if they haven’t already? Will users buy Bitcoin to save, spend with a merchant, or send to friends/family? This will be a very good test to see what the general population decides to do when there is very little friction to owning cryptocurrency.

The Why??

Ethereum is on pace to settle over $1 Trillion in value on-chain in 2020 and Bitcoin isn’t far behind. No FinTech company can afford to miss out on this kind of volume.

Messari @MessariCryptoEthereum is on pace to settle over $1 trillion in 2020 bit.ly/31uay18

October 21st 2020

89 Retweets329 LikesMarket Update (Monday 9:30 AM ET)

Percent Change (Rounded) Based on Last Monday Open (9:30 AM ET)

Bitcoin- $13,191 (+13%)

Ether- $406 (+6%)

Gold- $1,902 (UNCH)

DJI Average- 28,185 (-3%)

NYSE Composite Index- 13,063 (-1%)

NASDAQ Composite Index- 11,440 (-2%)

S&P500 Index- 3,441 (-1%)

Bitcoin’s 30-Day Rolling Correlation to the S&P is back to 0

Share

New Developments

1. Akoin has partnered with TryRoll to bring new artists to the platform, TryRoll

2. Polymarket Raises Massive $4 Million Round from Polychain and Naval, Forbes

3. Yield Protocol is Live, Allan Neimerg

4. DAOrecords Marketplace on OpenSea, OpenSea

5. Watchmaker Breitling will issue Ethereum authenticity certificates, The Block

6. Binance Destroys $68 Million of BNB in Most Expensive Burn to Date, Decrypt

7. Baselining the End Consumer, Andreas Freund

8. BlockFi partners with the Chicago DeFi Alliance to Mentor DeFi Startups

9. ETHGlobal Hackathon Projects

   defiprime @defiprimeMost interesting #DeFi projects from @ETHGlobal #ethonline hackathon ?? Thread in no particular order ??????

   October 25th 2020

   12 Retweets31 Likes

Industry Insights

• Bitcoin Is Worse Is Better, Gwern 2011

• Gitcoin Grants Round 7 Retrospective, Vitalik Buterin

• How to create a Project on Everest, The Graph’s Project Registry

• One Click Governance tokens with liquidity, timelock, stop loss, Andre Cronje

• The Ethereum 2.0 Deposit Contract Launch is Now in “Two Weeks”, Danny Ryan

• Mainstream DeFi is “inevitable”, US Currency Comptroller Brian Brooks

• 26 Million Merchants will accept Bitcoin and Ether through PayPal

  Adam Cochran @AdamScochran26 *MILLION* merchants now accept Bitcoin & Ethereum. PayPal's feature allows 300M users to buy crypto, but to also spend it anywhere. The merchant doesn't choose. A user can use their crypto balance & it auto settles to USD if the merchant doesn't want crypto. Damn.

  October 21st 2020

  15 Retweets59 Likes

Dev Talk

1. Sorting an Array of integer with Ethereum - Ethereum StackExchange

2. Yearn Keeper Bot, banteg

3. Smart Contract Directory, Etherscan

4. Smart Contracts in Javascript; DeFi Development

5. Decentraland Land Map

6. Verify Your Contracts On Etherscan 100% Of The Time, kndrck.co

7. New WETH Contract

   Alberto Cuesta Canada @acuestacanadaThere is a new WETH in town! ?? The Wrapped Ether contract we all know and love was deployed almost 3 years ago, so a bunch of us decided to upgrade it. Flash minting, ERC2612 permits, transferAndCall and much more, check it out! ?? github.com/WETH10/WETH10WETH10/WETH10revamped contract. Contribute to WETH10/WETH10 development by creating an account on GitHub.github.com

   October 23rd 2020

   40 Retweets105 Likes

dApp Activity

Source

-Open METAMASK extension and switch to Goerli Testnet

-Visit https://faucet.goerli.mudit.blog/ to get some GoETH (Tweet your ETH address)

-Visit beta.rocketpool.net and convert x amount of GoETH to rETH

-You’re staking on ETH2 Testnet

Developer Activity

An inside look at a portion of Bitgo’s Wrapped Bitcoin smart contract:

*Tools: Metamask (Wallet), Remix IDE (Development Environment), Solidity (Smart Contract Language) Ethereum (Blockchain), Etherscan Block Explorer

# set pragma

pragma solidity ^0.4.24;

# contract (Source)

contract WBTC is StandardToken, DetailedERC20("Wrapped BTC", "WBTC", 8),    MintableToken, BurnableToken, PausableToken, OwnableContract {    function burn(uint value) public onlyOwner {        super.burn(value);    }    function finishMinting() public onlyOwner returns (bool) {        return false;    }    function renounceOwnership() public onlyOwner {        revert("renouncing ownership is blocked");    }}

Earn Opportunity

Open and fund a BlockFi account to get up to $275 in Bitcoin! Special Halloween offer and will only last for another week. Visit the BlockFi website to learn how to be eligible for this offer.