Posted 2 months ago | by Catoshi Nakamoto
Ripple co-founder initiates a campaign against Bitcoin, The Bored Ape Yacht Club breaks the internet and don’t forget your sunglasses, we’re going to crypto paradise. My name is Ben. This is your crypto nightly news wrap up. Lets get it!
Chris Larson, co-founder of Ripple, has donated $5 million dollars to support his new campaign against Bitcoin, cleanupbitcoin.com. The tag line for the campaign is “Change the code, not the climate.” He feels as though Bitcoin will lose support from its users unless they change the way they process transactions. To drive his point home, his website is filled with environmental FUD such as “Bitcoin uses more energy than all of Sweden” and that the carbon dioxide emissions could cause the planet to warm more than two degrees. His goal here is to get Bitcoin to change its code from proof of work to proof of stake, like Ethereum. As noble as his efforts sound, his arguments are completely flawed. First of all, Bitcoin would have to hardfork to switch to proof a stake and it’s not as simple as downloading a video game. It’s an extremely complicated process, that has taken Ethereum, for example, several years to do. Not to mention the years to create and test the technology to do so AND it would have to be voted on in the community. Larson’s arguments sound convincing if you don’t look at any data but since Ripple is already embedded in TradFi, it’s logical that they want to dethrone Bitcoin by any means necessary. I’m not hating on XRP or anything like that, I just believe Larson is going for a low blow with this one and he’s embellishing the facts. The fundamental flaw in his argument is that power consumption is bad. Wrong; power consumption is progress. If we didn’t consume the power that we do, the technology and advances humans have made the past 100 years would all be for nothing. Before we get to Frankie Candles for the marketwatch, be sure to smash that like and subscribe button.
Imagine a remote tropical island paradise where only crypto is used for transactions, NFTs are used for ownership and the people that inhabit the island live in a real democracy instead the illusion of one. Sounds too good to be true right? Well, there’s a scenic private island in the South Pacific Ocean, between Australia and Fiji, that is being developed into a “Crypto Utopia” and it’s known as Satoshi Island. It’s a 32 million square foot island that will be developed into “a true crypto economy and blockchain democracy.” If you want to live in this exclusive crypto community, you must apply for the Satoshi Island Citizenship NFT. This acts as the whitelist to enter the Land NFT Sale. (Source) Only 21,000 thousand citizenship NFTs will be created and so far over 50,000 people have already applied. If you think it’s too good to be true, check out this Tweet from Satoshi Island! It reads, “Yes, we already own the island. Yes, we can develop as advertised. Yes, the government supports our plan. Yes, our team has relevant expertise.” Cointelegraph recently reported that the Prime Minister of Vanuatu gave Satoshi Island the green light on March 16th. Get your sunscreen, flip flops and beach chairs ready! Bullish News for another day in paradise.
In other news, The Bored Ape Yacht Club released an exclusive members only merch drop yesterday; the website was immediately flooded and the traffic jam ensued. There were several hiccups with the launch such as customers not receiving confirmation codes, after the ApeCoin used to purchase the merch was already taken from the buyers MetaMasks. Bored Apes did launch a series of tweets promising that everyone will be refunded and to complete your entire order in a single transaction. Some were quick to notice that the transaction issues wasn’t the only thing wrong with the merch drop. If you owned a bored ape before the Ape airdrop, you received over 10,000 APEs, worth about $128 thousand dollars. Mutant Ape holders received over 2,000 APEs worth about $26 thousand. (Source) The problem is, ApeCoin isn’t used for just day trading and playing Benji Bananas; it’s a way to vote to make decisions in the ApeCoin DAO. Considering you have to use ApeCoin to purchase the merch, in a way, by buying the merch, you’re giving a part of your vote back to Yuga Labs. Theverge.com points out the suspicious timing of the merch drop considering there are only two days left to vote on the initial DAO proposals. Other than that, ApeCoin has been swinging around that charts, they are gaining about 1,700 new users per day since their launch (Source) and it’s already inside the top 100 crypto coins by market cap, 90th to be exact.
That’s all I got, be blessed. Bitboy out!