Fake Deaths, Real Deaths, & a Permanently Reduced Block Reward: Bad Crypto News of the Week
Check out this week’s Bad Crypto News.
The halving came and the halving went, which means that miners now only get 6.25 Bitcoins for each block and we only have about 1450 days to wait until the next one. That’s something to look forward to, especially as this halving didn’t seem to do much harm. The price didn’t move very much, suggesting that the halving was already priced in. Predictions of a sudden drop didn’t pan out, or a sudden rise, and neither did Craig Wright’s threat to crash the price. We can all go back to bed now.
One change though was the removal of 23,540 Bitcoins from exchanges immediately after the halving. It looks users are feeling confident enough to keep their coins in their wallets for the long-term. Are they right to be so bullish? The experts disagree. Some see signs of a continued rise. Others expect a quick dip first.
As for that last block, miner F2pool wrote a message into the coinbase transaction. “NYTimes 09/Apr/2020 With $2.3T Injection, Fed's Plan Far Exceeds 2008 Rescue” the block states, a reminder of where Bitcoin came from and why it’s still going.
It’s not going anywhere on YouTube though. The Google property pulled the plug on CoinTelegraph’s live stream of the halving, describing it as “harmful content.” It took them six hours and 42 minutes. The broadcast was scheduled to last seven hours.
In other news, most crypto users seem to think that Gerald Cotten faked his own death. The founder and CEO of QuadrigaCX was said to have died while volunteering in India. Because Cotten was the only person with the exchange’s wallets and keys, users have been locked out of $145 million in assets. They’ve asked for his body to be exhumed.
But the Telegram Open Network is definitely dead. Telegram CEO Pavel Durov has given up on the network and its Gram tokens after losing a long fight with the US Securities and Exchange Commission.
Lolli is looking more lively. The Bitcoin rewards app closed an oversubscribed $3 million seed fund. Investors included Ashton Kutcher and Michelle Phan.
And if you’re looking for really valuable rewards, Garbage Pail Kids NFTs are now available for purchase and trade on the WAX blockchain. Or you could hold out. The Bad Crypto Podcast and Golden Mic are collaborating with WATERisLIFE.com to donate #NFT tokens on SuperRare. An auction will take place at the grand opening of the Cryptovoxels pyramid in two weeks, with most of the funds going to charity.
Check out the audio version here:
Joel Comm is an internet pioneer, New York Times best-selling author, futurist speaker and co-host of The Bad Crypto Podcast. That’s a fancy way of saying he writes words, says things and loves to play with cryptos.
The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.