A 27-Year Old Could Disrupt the Entire Financial Industry
The "Big" presentation | Markets | Newswatch | NFT mint of the year, so far
The market remained quiet… but the Miami Conference beat the bitcoin drum. Meanwhile, quality altcoins took the opportunity to climb and one of the hottest NFT teams is about to drop its latest project.
All that and more!
Jack Maller’s “Big” presentation
Quiet markets for BTC, quality altcoins climb
A potential new European crypto hub
Moonbirds NFT raffle
Come join the fastest-growing community in crypto @ Crypto Banter.
What a day for bitcoin!
The Maimi conference ramped up the volume with major announcements on the conference's second day. The show began quietly with discussions centered around mining, but the exciting stuff didn't stop once the ball started rolling. With names like "Cult of the Central Bank: A Fiat Religion" and "Bitcoin is Freedom," the presentations provided viewers with an alternative viewpoint of the monetary system. A few autonomous regions additionally declared bitcoin adoption on the day. Then came Jack Mallers.
The much-awaited Jack Maller revelation wasn't what everyone expected but vastly more important. Mallers unveiled the Bitcoin Lightning Network's integration with global payments systems via a Strike and Lightning Network backdrop in a part educational, part marketing production.
Although not as flashy as an ApplyPay integration, Mallers presented what could be a revolutionary initiation of a new payments standard. The integration allows the transfer of value across the bitcoin network in a seamless, efficient, and discreet manner, a far cry from the current payment network that involves a handful of fee-inducing banking entities and credit service providers.
The most significant obstruction to innovative technology comes in the form of regulators. Still, Mallers recruited Senator Cynthia Lummis, a notable cryptocurrency advocate, to fight for the cause in Congress. Then, during the presentation and right on queue, the FDIC released a Tweet asking banks to disclose customer interactions with cryptocurrency. Coincidence? Likely not.
The revelation, though small, presents an entirely new system of finance with the bitcoin network as the transactional layer. A significant shift bitcoiners had predicted long ago.
Although riddled with obstructions, a door opened today in the path to fiscal advancement and inclusion. Moreover, it represents a pivotal moment for the global adoption of bitcoin as a financial standard.
Market update 🌍
During the bundle of announcements at the Miami Conference, Bitcoin (BTC) traded sideways on an overall quiet Thursday. Several large purchases were reported through whale watchers. Notably, the richest non-exchange wallet collected 3,241 BTC in 24 hours. BTC finished the US session up 0.63% to $US43,444.
Source: Trading View
Newswatch 📰
Europe’s Newest Crypto Hub. The government of Slovenia unveils a flat-tax proposal of 5% on all crypto transactions larger than 10,000 euros in the name of “debureaucratization” and simplification of the current system.
Crypto adoption studies. A report released by Checkout.com notes the growing demand for cryptocurrency. The study highlights that 40% of adults between 18-and 35 will pay for goods with crypto in the coming year and that 82% of merchants who adopted crypto saw an increase in customers.
Not Gamestop but Bitcoin. Robin Hood announced BTC as the most traded asset on the platform in 2022 and plans to integrate the Bitcoin Lighting Network for its two million users.
Orange-pilled Dutch. The Netherlands Authority for Financial Markets announces they will begin educating students about investing in cryptocurrencies.
On-chain ⛓
The Terra Foundation adds $100 million in AVAX tokens to the UST reserve, making it the first asset besides BTC to be added.
Frax follows Terra’s lead. The team behind Frax is considering adding billions of dollars worth of major blockchain tokens to utilize as collateral for its hybrid stablecoin. Frax and Terra recently partnered in the newly created 4pool on Curve, one of the largest liquidity pools in crypto.
NFT & metaverse update 🐵
Multi-chain NFTs.The multi-chain operating system, Celer Network (CELR), partner with NFT-based network Flow (FLOW) to enable NFT-bridging across 24 chains on its native cBridge.
Moonbirds take flight—register to win a spot in the Moonbirds NFT allowlist by April 9. The famous PROOF team is the NFT group behind Moonbirds. Registerees must have 2.5 ETH in their wallet. Minting will be next week.
Notable Mints:
Writer’s take
The lighting network, remember that name. It's going to play a significant part in the future of finance. It allows the fast transfer of bitcoin across the network for minuscule fees. Jack Maller used the network to build the most disruptive payment system in over 50 years. The technology takes bitcoin by the hand and chauffeurs it to the deep end of the pool, where it will dive-bomb in a crowd of TradFi bankers, regulators, and middlemen economists. And we'll have the pleasure to witness the old regime attempting to keep their head above water around the exceptionally-better equipped technology that is the bitcoin network.
-Gabri