Building a Bitcoin Economy: How to Close the Loop
This guide is a continuation of a previous article at http://bitcoinmagazine.com/13104/building-bitcoin-economy-stimulate-adoption/. If you or someone in the area has been preaching crypto for a while, you probably have a few nearby businesses accepting Bitcoin by now. This is an important first step, and worthy of celebration over a few Bitcoin beers.....
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As Bitcoin moves towards becoming a part of the mainstream economy, why should it be any different from the traditional economy? Well, that's what the scenario looks like in the Bitcoin community. It is a well-known fact that 50% of the whole world's economy is controlled by the top 1% of the population, similarly 99% of the Bitcoin is under the control of 1% of Bitcoin community. The only difference between traditional economy and Bitcoin economy is that in the traditional economy, when it comes to fiat currency it is easy to identify how much a person is worth and who are the rich and....
TBC founder Elon Musk seemingly confirmed the news on Wednesday with a tweet responding to the news, saying: “Supporting Doge wherever possible.” Elon Musk’s tunnel construction firm The Boring Company (TBC) has begun allowing customers to pay for rides on its Las Vegas transit system using Dogecoin.A July 6 report from CNBC said the new payment option via Bitpaysurfaced on Friday, a day after the opening of its new Loop station at the Las Vegas Convention Center. While the Boring Company has not officially confirmed the new payment method, founder Elon Musk seemingly did when he responded....
According to statistics on Friday, May 13, the top stablecoins by market capitalization are currently worth $163.7 billion after the stablecoin economy was valued at close to $200 billion just last week. Of course, the climactic terrausd (UST) failure wiped out billions from the stablecoin economy, and Binance’s stablecoin BUSD has recently entered the top ten crypto market capitalization positions. Just as it caused carnage in the crypto economy, Terra’s recent downfall has caused a great shift within the stablecoin ecosystem.
The Stablecoin Economy’s Great Shift....
Spacex and Tesla CEO Elon Musk, widely believed to be the man taking humanity to Mars and building a permanent settlement there, tweeted his approval of the idea that Mars’ economy will run on cryptocurrency. Elon Musk Envisions Mars’ Economy Run on Cryptocurrency Elon Musk believes that Mars’ economy will be run on cryptocurrency. He said early this month that he is “highly confident” that his company Spacex will land humans on Mars “about six years from now.” He further noted that it could even come as early as 2024 “if we get lucky.”....
The crypto economy has come awfully close to nearing the $3 trillion handle as far as the value of all 10,000+ crypto assets is concerned. Today, crypto market aggregation sites show the entire crypto-economy at $2.756 trillion is worth more than the value of Apple’s market cap at $2.467. Furthermore, the top ten crypto-asset exchanges, in terms of cryptocurrencies held in reserves, hold more than $200 billion or 7.47% of the entire crypto economy. 10 Centralized Crypto Exchanges Hold 7.47% of Crypto Economy’s Value in Custody Digital currencies are far more valuable today....