🏃Crypto Should Move Away from Relying on ‘Endless Growth’ - Vitalik Buterin

View in browser May 27, 2022 Happy Friday! BTC is moving sideways - but this is nothing new to the blockchain. Terra's new chain launch gets pushed back, ETH's Vitalik Buterin argues against crypto relying on endless growth, and much more to end the week with! Markets - Change 24hr Source: CoinMarketCap.com Crypto Should Move Away from Relying on 'Endless Growth' - Vitalik Buterin In order to ensure safety, crypto projects should move away from an attitude of relying on "endless growth," despite the arguments that the fiat world works in the exact same way, Ethereum (ETH) co-founder Vitalik Buterin has stated. According to Buterin, builders in the crypto community can certainly "hope for growth," but should still evaluate how safe a system might be by looking at it both in its "steady state" and "pessimistic state."  He added that even when a system passes such a test, that is not enough to know whether or not it might still be fragile for other reasons, such as an insufficient amount of collateral, software bugs, or governance issues. Read more... Terra's New Chain Launch Pushed Back, NFT Projects Get Invited to Polygon The launch of the new Terra (LUNA) blockchain has been pushed back one day and is now expected to go live this Saturday. The launch is readying as the Terra community voted to burn a portion of the old TerraUSD (UST) supply, while some projects are migrating to other blockchains.  Although all signs are pointing to the new chain's launch this Saturday, not everyone appears interested in backing it. One of the critics was Ryan Wyatt, the CEO of the Polygon (MATIC)-focused development firm Polygon Studios, who said on Twitter that his firm has put together "a multi-million dollar fund" aimed at helping Terra developers "stay on their feet and migrate." Read more... Sideways Markets Not New Thing For Bitcoin Bitcoin (BTC) trading sideways may be boring for those trying to profit from the price swings, but it is far from a new thing for the original cryptocurrency to do (relatively) nothing. If there is one thing all traders need to make money, it's volatility. And bitcoin traders are no different from traditional traders here. In fact, it could be argued that they rely on strong volatility even more due to the more volatile nature of digital assets compared to traditional assets like stocks and fiat currencies. To summarize, it's not a new thing for bitcoin to trade within a relatively narrow range for weeks at a time, and often for two weeks or more. For the sake of all the HODLers out there, we can only hope that this time it will be a break-out to the upside. Read more... Promotion Deposit fiat currencies via Advcash and Trade to Win a Share of 50,000 USDT! We are pleased to announce the launch of the 'Buy USDT via VISA/MasterCard' activity. This time we will be giving away 150,000 USDT, and it is a 100% guaranteed win.   Activity Time: 10:00:00 on May 27, 2022 - 24:00:00 on May 31, 2022 (UTC)  Participation Conditions: Buy ≥100 USDT via VISA/MasterCard during the event.   Rewards: 100% win! The highest reward is 500 USDT, and the reward for new users will be doubled! 1. All users who meet the conditions will win a share of 150,000 USDT. 2. The rewards are divided into 3 parts, 1-5 USDT, 10-20 USDT, and 100-500 USDT. We will have a lucky draw of a random number from one of the above rewards to give away to each participant. For example: 3 USDT, 15 USDT, 100 USDT, or even 500 USDT. 3. The rewards for participants who have never purchased USDT via Visa/Mastercard on KuCoin before the event will be doubled, which means a user can get up to 1,000 USDT. Learn More Daily Briefs Russia is considering allowing crypto to be used for international payments, Reuters reported, citing Russian news agency Interfax. The idea is being "actively discussed", they quoted Ivan Chebeskov, head of the finance ministry's financial policy department, as saying. Finance giant JPMorgan Chase is using blockchain for collateral settlements, per Bloomberg. The bank's first such transaction came on May 20 when two of its entities transferred the token representation of fellow giant BlackRock Inc. money market fund shares as collateral on its private blockchain. The effort will allow investors to pledge a wider range of assets as collateral and use them outside of market operating hours, they added. The newly confirmed USFederal Reserve Vice Chair Lael Brainard said that the central bank views a digital dollar as part of the global financial system's future that works in sync with the private sector, per Yahoo Finance. Brainard said that new forms of digital money such as stablecoins that do not share the same protections a central bank would offer could reintroduce risk into the payments system. The Thai government is exempting value-added tax (VAT) from the transfer of cryptoassets or digital tokens until the end of 2023 as part of a new royal decree issued under the Revenue Code for the Exemption of VAT, according to Bangkok Post. Akaradet Diawpanich, chief executive of digital asset advisory service provider Cryptomind Group Holdings, said the waiver may be aimed at supporting the use of central bank digital currency (CBDC) in the future but will have limited to no effect on digital asset investment. Three US ​​Republican senators, Tom Cotton, Mike Braun, and Marco Rubio, introduced a bill that is aiming to limit the use of China's CBDC in the United States. According to the bill, app and software distributors in the US shall not support or enable transactions in e-CNY or support any app that features such transactions in the country. NFT game Stepn will block users based in mainland China to comply with regulatory policies, stopping providing GPS and IP geolocation services to them on July 15.  The US National Football League (NFL), NFL Players Association (NFLPA) and gaming technology studio Mythical Games announced a partnership to launch NFL Rivals, a new NFL video game that leverages blockchain technology, on the Mythical Platform in early 2023. Ahead of the launch, 32 limited-quantity collections of unique generative 3D NFL franchise-themed NFTs were released in a series of drops called "Rarity League." The clock of the Solana (SOL) blockchain is currently adrift of real-world time by about 30 minutes due to longer than ideal slot times on the network, the project reported. The issue does not have any impact on network performance, but transactions timestamps will be different from "wall-clock time." Tether, the issuer of the USDT stablecoin, launched its tokens on the Polygon (MATIC) blockchain platform.BitMEX announced that its spot trading exchange has reached USD 24m in 24-hour trading volume for a 100% daily increase, the highest after going live 10 days ago. Additionally, their Average Daily Value (ADV) reached over USD 3m traded in the first week. Crypto exchange Huobi announced the acquisition of Latin American crypto exchange Bitex for an undisclosed amount. 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