Russian Market

2022-05-10 18:12:34 El Salvador bought the dip

El Salvador President Nayib Bukele tweeted on Monday that the Latin American country bought another 500 BTC (about $15.3 million) during the current market correction, bringing the total number of BTC owned by El Salvador to over 2,300 (about $72.5 million).

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t.me/therussianmarket Open / Comment

2022-05-10 17:43:00 Bitcoin rebounds as selloff moderates

Bitcoin is rebounding from an earlier brief collapse below $30,000 as the selling pressure on risk assets moderates. BTC is adding 5% so far trading around $31,500.

Rising real rates led by Fed's tightening monetary policy to combat inflation are creating an obstacle for speculative assets like cryptos.

Whether the calm will last is an open question. Coinbase is expected to release earnings after market close, potentially offering some clues on institutional interest.

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2022-05-02 17:24:28 VanEck launches NFT collection

American investment manager VanEck announced the launch of its own NFT collection centered around its crypto community. The collection will be called VanEck Community NFT and will consist of 1000 tokens on the Ethereum blockchain. The tokens will be issued this week through an airdrop to the first 1,000 people who sign up for the giveaway.

The firm said it intends to demonstrate the real utility of NFTs through this collection. To this end, NFTs will act as a virtual membership card. NFT holders will have access to several benefits, which may include early access to the firm’s digital asset research and invitations to exclusive events. The benefits offered by NFTs will depend on their rarity.

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2022-05-02 13:33:13 India obliges crypto exchanges to store user data for 5 years

The Indian Computer Emergency Response Team (CERT-in), run by the Ministry of Electronics and Information Technology, issued a directive requiring crypto exchanges, VPN providers and data centers to store user data for up to five years.

Thus, crypto exchanges operating in India will need to store customers’ names, ownership patterns, contact information, and various other data.

Crypto exchanges and VPN service providers are also required to report any cyber incident within six hours of its occurrence and must forward the collected data to the authorities upon order.

It is still unclear whether the new rules will apply to crypto exchanges operating in India only, or to foreign exchanges offering their services to Indians.

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t.me/therussianmarket Open / Comment

2022-05-02 10:41:17 Market Overview

BTC price trades below $40K

The Top-10 are traded in green zone:
XRP +5.7%
LUNA +3.1%
ETH +2.8%

Market cap: $1.86T (+3.02%)
BTC dominance: 39.84% (-0.48%)
Fear & Greed Index: 28 (Fear) Open / Comment

2022-05-01 21:46:14 Wikipedia stops accepting crypto donations

The Wikimedia Foundation, the nonprofit behind Wikipedia, has stopped accepting crypto donations, according to a recent announcement. The decision was made based on the feedback received from the community.

The foundation began accepting crypto donations back in July 2014, but Wikipedia editors voted overwhelmingly to suspend such donations earlier this month, arguing that the Bitcoin and Ethereum networks consume too much energy.

"Cryptocurrencies are extremely risky investments that have only been gaining popularity among retail investors," wrote Wikipedia user GorillaWarfare, the original author of the proposal. "I do not think we should be endorsing their use in this way."

The ban will not have a significant impact on the foundation. The Wikimedia foundation received crypto donations worth about $130,000 in the most recent fiscal year. This is just 0.08% of the foundation's revenue, which topped $150 million last year.

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t.me/therussianmarket Open / Comment

2022-05-01 21:30:21 Peter Brandt predicts $28,000 for Bitcoin

Peter Brandt has predicted a potential reversal for Bitcoin, to drop below $30,000. The trader suggested that the drop below the ascending channel may happen during the next reversal. The 28,000 level is the lower price range in which Bitcoin moved previously.

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t.me/therussianmarket Open / Comment

2022-05-01 17:07:36 Elon Musk supports fighting Twitter spam with Dogecoin

Elon Musk and Dogecoin co-founder Billy Markus supported Mark Cuban's idea that Dogecoin could solve the Twitter spam problem.

Cuban proposed adding an optimistic rollup to Dogecoin. Every Twitter user would be required to put up 1 DOGE for unlimited posts. Real humans would be able to receive the spammer’s tokens after successfully contesting his or her post. Conversely, one will end up losing his or her Doge tokens if they falsely label some tweets as spam.

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2022-05-01 16:50:16 Central African Republic didn't share Bitcoin adoption plans with Central Bank

The Central African Republic (CAR) has reportedly neglected to inform its central bank that it intends to make Bitcoin legal tender.

Earlier on April 27, President Faustin Archange Touadera signed a bill making BTC the official currency along with the CFA franc. It became the second country to do so, after El Salvador, which adopted Bitcoin in September.

However, a spokesman for the Bank of Central African States, the regional central bank of six countries using the CFA franc, said the bank had not been given advance notice of the CARs' upcoming crypto plans.

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2022-05-01 13:08:10 Warren Buffett says he wouldn't pay $25 for all the Bitcoin in the world and Charlie Munger calls crypto 'stupid and evil'

Berkshire Hathaway CEO Warren Buffett and Vice Chairman Charlie Munger took turns criticizing Bitcoin at the company's annual shareholder meeting.

"Whether it goes up or down in the next year, or five or 10 years, I don’t know. But the one thing I’m pretty sure of is that it doesn’t produce anything," Buffett said of crypto.

"If you told me you own all of the Bitcoin in the world and you offered it to me for $25, I wouldn’t take it because what would I do with it? I’d have to sell it back to you one way or another. It isn’t going to do anything," he added.

Charlie Munger agreed with his partner's assessment. "In the first place, it’s stupid because it’s still likely to go to zero. It’s evil because it undermines the Fed and third, it makes us look foolish compared to the Communist leader in China. He was smart enough to ban Bitcoin in China."

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