#Bitcoin #ElSalvador #NayibBukele

I'd like to welcome everyone to my new PODCAST

Dave's Daily Crypto Take

In this channel I will be providing you with news on a daily basis about cryptocurrency, bitcoin, blockchain, FIAT.

My main purpose is to share UNBIASED news and updates. Ultimately I learn and hopefully you learn while I go on this journey.

ARTICLES used in today's video:

https://bitcoinist.com/ethereum-losing-to-competitors-due-to-high-fees/

Ethereum May Be Losing Out To Competitors Due To High Gas Fees, Says JPMorgan

JPMorgan has piled on the ethereum high gas fee issue as a reason why it could end up losing out to competitors like Solana and Cardano. These other projects past significantly fewer transaction fees than ethereum, being one of the major pull points for investors. Due to this, it is increasingly losing users to other platforms who have found they can carry out DeFi activities for much lower fees.

Ethereum Fees Are Too High

In a recent research note, JPMorgan analyst Nikolaos Panigirtzoglou explained that the high fees associated with using the ethereum blockchain have some major drawbacks for the network. Networks with smart contracts capability are in what is essentially an arms race to be the leading platform for decentralized finance (DeFi). Although ethereum remains in the lead, its high gas fees continue to set the network back.

https://finbold.com/market-strategist-downgrades-btc-price-target-to-17k-but-expects-slight-near-term-surge/

Market strategist downgrades BTC price target to $17k but expects slight near term surge

Gareth Soloway, the chief market strategist at InTheMoneyStocks.com, has said the ongoing Bitcoin volatility might see the asset correct to below $20,000 but maintains the cryptocurrency’s long-term prospects remain bullish.

Speaking to Kitco News, Soloway stated that the price will likely hit $17,000 but acknowledged that the value might slightly surge to about $46,000 in the near term, but the position won’t hold for long. 

He believes the correction is a consequence of the general market de-leveraging that has spilt over to Bitcoin.

https://gizmodo.com/crypto-com-finally-acknowledges-34-million-stolen-by-h-1848389819

Crypto.com Finally Acknowledges $34 Million Stolen by Hackers

Trading platform Crypto.com lost about $34 million worth of cryptocurrency in a hack on Monday, according to a new blog post by the company published overnight. The company had previously declined to say much about the hack, which forced users to stop withdrawals for most of the day, and only reassured customers they wouldn’t lose any money.

Hackers made off with 4,836.26 ethereum, 443.93 bitcoin, and approximately $66,200 in other crypto coins from precisely 483 users, according to the company. Crypto.com, which has about 10 million users, halted all withdrawals on Monday for about 14 hours after “suspicious activity” was detected, and forced all users to reset their two-factor authentication methods.

https://petapixel.com/2022/01/20/student-becomes-a-millionaire-after-turning-selfies-into-nfts-as-a-joke/

Student Becomes a Millionaire After Turning Selfies Into NFTs as a Joke

A 22-year-old Indonesian college student has become a millionaire overnight after turning his collection of daily selfies into non-fungible tokens (NFTs) as a joke.

A Daily Selfie Since 2017

Sultan Gustaf Al Ghozali, a computer science student from Semarang, Central Java, has had a habit of shooting a selfie a day in front of his computer for the past four years, starting from when he was 18 years old. While he has missed some days, his album now contains nearly 1,000 selfies, which he initially shot to create a passage-of-time timelapse in the style popularized by Noah Kalina’s everyday project.

https://futurism.com/el-salvador-bitcoin-economy

An Entire Country Switched to Bitcoin and Now Its Economy Is Floundering

Months after El Salvador announced that it would accept bitcoin as legal tender, the country has found itself on the verge of economic collapse yet again.

The country’s president Nayib Bukele made waves last year when he announced that the nation would accept the token for use at stores and banks. The self-described “CEO of El Salvador” even announced plans to build a “Bitcoin City“ to turn the country into “the financial center of the world.”

However, it turns out that forcing your nation’s banks and stores to accept a currency large swaths of the population are unfamiliar with and don’t trust is a good way to tank your economy, according to a castigating report by Fortune. 

https://alternative.me/crypto/fear-and-greed-index/

https://coinmarketcap.com/

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DISCLAIMER: I will never give any financial advice. And my channel is not considered official Financial Advice. Please do your research before purchasing any cryptocurrency.

Thank you very much

Dave

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