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Daily Bitcoin and Crypto Analysis

This Week in Crypto...

February 21, 2021
Over the weekend, Blockchains LLC announced their plans to build a crypto city in Nevada. This would enable digital payments for every day purchases and services all over the city, among other things.

On Monday…

Vitalik Buterin announced the first Ethereum 2.0 hard fork. He published a plan for the Beacon chain, which will allow clients to use minimal technology for nodes through outsourcing.

The Russian State Duma approved a crypto taxation bill. The draft version of the bill recognizes crypto as property and will tax crypto trading.

On Tuesday…

Auction house Christie’s auctioned the first digital work of art through MakersPlace. The work of art is called “Everydays: The First 5000 Days,” by Mike Winkelmann.

In an interview on CNN, Microsoft announced they are not considering a Bitcoin investment—at least in the short term.

On Wednesday…

The Bahamas launched a card affiliated with mastercard for its central bank digital currency, the Sand Dollar. The Bahamas launched its CBDC in October of 2020.

The United States Department of Justice charged three North Korean hackers from the Lazarus Group. The investigation has been underway for the last 2 years.

On Thursday…

Austrian regulators are looking to strengthen their crypto laws after a string of investment scams and fraud. “We see a great need for stricter regulation,” said FMA spokesman Klaus Grubelnik, continuing, “Fake offerings for stocks and gold have been around forever and these scams are now shifting to digital assets because of the hype.”

On Friday…

Bitcoin broke through $50,000, a long-awaited occasion, and is now trading steadily above the 50K mark.

Elon Musk argued in favor of crypto against a Peter Schiff Tweet. Schiff Tweeted, “According to @elonmusk “Bitcoin is almost as BS as fiat money.” So Musk regards both #Bitcoin and fiat as BS. I agree, I just think Bitcoin, which is digital fiat, is even more BS than the paper fiat issued by central banks. #Gold is not BS. It’s real money and better than both!” To which Musk replied, “An email saying you have gold is not the same thing as having gold. You might as well have crypto. Money is just data that allows us to avoid the inconvenience of barter. That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both.”


For more information on these stories, visit:
Blockchains LLC: https://apnews.com/article/blockchains-smart-city-nevada-e53b6c504ccaf9071cbfb607074eb719
ETH 2.0: https://notes.ethereum.org/@vbuterin/HF1_proposal
Duma: http://duma.gov.ru/news/50155/ | https://cointelegraph.com/news/russian-duma-prepares-bill-on-cryptocurrency-taxation
Christie’s: https://twitter.com/ChristiesInc/status/1361670588608176128
Microsoft: https://twitter.com/jchatterleyCNN/status/1361728485589409797?s=20
Sand Dollar: https://www.businesswire.com/news/home/20210217005308/en
Lazarus Group: https://www.justice.gov/opa/pr/assistant-attorney-general-john-c-demers-delivers-remarks-national-security-cyber
Austria: https://www.bloomberg.com/news/articles/2021-02-19/austria-finance-regulator-sees-frauds-rising-amid-crypto-hype
50K: https://coinmarketcap.com/currencies/bitcoin/
Musk and Schiff: https://twitter.com/PeterSchiff/status/1362789659802238983?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1363007438455074825%7Ctwgr%5E%7Ctwcon%5Es2_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Felon-musk-says-btc-eth-prices-high-while-dunking-on-peter-schiff

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