I have been reading these articles, and I wanted to share these three stories with you before I close the tabs. These were found using coinmarkets today, which display aggregated stories on the bottom of their page. I also found the Gold one on my FB timeline, from a friend.
“I bought my first bitcoin in 2013 because I believe in the economic power of scarcity and the potential for bitcoin to address some of the manipulations in our financial system,” she said. “Now I am a hodler and I hodl because, like gold, I want to preserve the relative value of my labor over time,” she revealed. “I was struck by how innovative bitcoin is with its decentralized public ledger and a fixed supply.”
https://news.bitcoin.com/senate-election-cynthia-lummis-bitcoin/
This is interesting news because she found out about it through her job for the government, and there have been massive gains in the BTC price since 2013. There should be more informed politicians who understand the benefits of this technology, representing the people.
"On Tuesday, whoever is in control of the Bitcoin address "1HQ3Go3ggs8pFnXuHVHRytPCq5fGG8Hbhx" transferred all its contents—a staggering 69369.16716000 BTC or roughly $964,000,000. At this point, it's impossible to know whether this was a heist or just the long-dormant owner of the wallet moving out their savings to another wallet.
That wallet has been an object of speculation for cryptocurrency enthusiasts for years, and until the transfer it was one of the most valuable Bitcoin addresses in existence. More recently, several hackers have been trying to break into it, trying to bruteforce the passcode that protects the wallet in an attempt to steal the funds."
https://www.vice.com/en/article/g5bbaj/someone-emptied-out-bitcoin-wallet-with-964000000-million
I actually saw this last week and looked at the wallet for myself. It does appear that either the balance has moved to a more secure wallet, or it was cracked open by hackers. Either way, it makes for a very interesting story to tell your friends! Maybe they will get interested in crypto when they find out how much it is worth. N00BS excited when the price goes up, not when it goes down.
Yizhi Wei told the publication that the real gold bars were swapped for fake ones and smuggled out of China into Hong Kong where they were sold below market prices. He claimed to be one of the middlemen. The publication described Wei as “a member of China’s so-called red aristocracy … from the Manchu ethnic minority.” In addition, “His father was a senior communist official” and “His grandfather was a communist revolutionary who helped the regime seize power.” Wei detailed: “Every day it would come in from the Chinese city of Shenzhen. We would go buy it every day, 10 kilos, 20 kilos, 30 kilos. Then we will sell it in the afternoon on the same day. We made money from the price differences. We didn’t know where the gold came from.”
Yet another astounding reason that BTC is superior to Gold when it comes to authenticity and scarcity. Recent discoveries of Gold reserves also show that BTC is far more rare than Gold.
(Image: 10 tons of Gold vs 100 tons of Gold: source)
These were the news stories I was reading this past hour while I was drinking tea. If you have read anything else interesting today, please share a quote with the link in the comments!
