I hope you are all well and are had an excellent week, welcome to CryptoGod-1’s blog on all things crypto. I am continuing my series based off some of the most interesting news stories of the last week, some of which I have written posts about on here. Within I will be making use of some Meme's as posted in theto really get the message across of what's been going on. Enjoy :)
For everybody in the world of crypto, one of the most important anniversaries has recently happened. Day, as it is known, marks the day that Laszlo Hanyecz made the first ever recorded purchase of a physical good using Bitcoin. A total of 10,000 Bitcoin was posted as an offer on Bitcointalk.org for two pizza's. This was because Papa John’s did not accept Bitcoin as payment, but the offer was accepted by Jeremy Sturdivant, a 19-year at the time, who took the offer for an estimated $41 and bought and delivered the two pizza's.
We all owe Laszlo Hanyecz some form of gratitude, considering he made the first proper use case of Bitcoin. However, considering where Bitcoin has gone since way back in 2010, I wonder if he feels like he is part of the madhouse thanks to his actions. At the end of the day, he wanted his pizza, and he got it.
Gemini Choose Ireland for European Headquarters
The news emerged during the week that Gemini have chosen Ireland for their new European headquarters. Cameron Winklevoss made the announcement, noting the profound promise of crypto and the importance of common sense regulation. Anyway, back here in Ireland the news went down quite well, and common sense was at the centre of everyone's thoughts as we all congratulated ourselves on the success.
As for Cameron Winklevoss, I wonder will he spend some time in Ireland to really take in the landscape, scenery, and 'culture' of his new found island of choice.
Ah no, not ALGO!
Even though Algorand may have gotten the 'green light' shilling from SEC Chairman Gary Gensler back in April, the coin has been doing nothing exciting or of note. In fact, it has fallen roughly 33% since then, with ALGO one of the worst performing coins on the market. Many warn of the dangers associated with investing in things like memecoins, and that people should stick to the tried and tested coins out there.
I am sure we are all in it for the technology, but for those who invested in ALGO for the hopes of making a profit, well, it turns out shit posting on Reddit may have been the smarter investment.
Memes, memes, and more memes
With the rate of new memecoins hitting the market of late, it can seem overwhelming and tiresome keeping track of them. One week PEPE is the must have coin, then SPONGE is taking over, next its KERMIT, and who knows what will be next!! One way or another, no matter how much effort and work you put in, the likelihood is you will be more like this silly old bear than one who manages to invest in the right coin, at the right time.
Debt Ceiling Deal
Bitcoin has reacted in a positive light to the news that U.S. government has come to an agreement on the debt ceiling. There had been fear in the market over the impact it could have on digital currencies, but instead the positive news seems to have sparked some life back into the crypto space. For those who are unaware of what the debt ceiling deal is, well, we know which one you are.
In reality this means the U.S. government has suspended the debt limits until January 2025, which means that there is now no limit on how much more debt the government can incur. All to the delight of Treasury Secretary Janet Yellen, who had warned of a possible default unless a deal could be struck. FTI, this is the same woman who admitted she was wrong on inflation.
Beware of Scammers
Honestly, I just thought this was hilarious. Plenty of scammers out there, make sure to be alert and aware of them and their mischievous ways.
Have a great day and enjoy your week ahead.
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