"Smile in the mirror. Do that every morning and you'll start to see a big difference in your life."
- Yoko Ono
Happy Tuesday fellas! It's a beautiful summer day today, so take this opportunity to smile and to remind yourself how fortunate you are! I know it might be hard because it's a Tuesday, but psych yourself up and get excited! 🤪
Today in history (1896), Ford Motor Company founder Henry Ford took his 1st Ford he ever designed, dubbed the “Quadricycle", and drove it through streets of Detroit. 🚗
In today's newsletter, we will be covering Tron (TRX) founder Justin Sun to soon be dining with Warren Buffet, Walmart joining a blockchain consortium for tracking the provenance of pharmaceuticals and John McAfee to soon be launching his own cryptocurrency. Also, in our 'Tutorial Tuesday' section, we have another well put together educational video by crypto educational content provider, Goodbit!
Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚
Down down down 🔻
And down we go~
In the last 24 hours, the crypto markets retraced and saw total market capitalization slipping from ~$270 billion to ~$251.2 billion, with most coins seeing losses in the ~5-13% range. This is the biggest drop in the past 7 days. 📉
BTC is trading at ~$7,865, down ~7.94% over yesterday. On the daily chart, BTC just broke below its 21-day EMA line for the first time. RSI level is currently at ~51.2.
Most expensivest dinner 🍽️
It was revealed that the winner of this year's dinner with Warren Buffet, as part of his annual charity auction for the Glide Foundation, was the founder of Tron (TRX) Justin Sun. He placed a record-breaking bid of $4.57 million to lunch with the “Oracle of Omaha"! 💸 28 year-old Sun will meet Buffett at Smith & Wollensky’s in Manhattan and has said he would invite 7 crypto-industry leaders to join them.
Sun wrote in a Medium post that he is a “a long-term believer (and certainly a big fan) of Buffett and his long-term value investing strategy”. He added that Buffer publicly said "he sees no ‘unique value’ in Bitcoin", but "has pointed to the potential in blockchain, the underlying technology behind all cryptocurrency". He thus sees "the upcoming lunch with Buffett as an opportunity to seek mutual understanding and growth.” ✌️
Buffet said, through a statement provided by his assistant, that he is "delighted with the fact that Justin has won the lunch and am [is] looking forward to meeting him and his friends. We [They] are going to have a good time and Glide will use his contribution to help many thousands of people.”
Join the partay! 🤗
Following in the footsteps of Pfizer, McKesson Corporation, AmerisourceBergen Corporation and Premier Inc., Walmart has joined a consortium building a blockchain for tracking the provenance of pharmaceuticals, MediLedger. 🤝
The MediLedger project was initiated by San Francisco-based blockchain tech firm Chronicled to develop a system for trusted data sharing within pharmaceutical product supply chains. The project seeks to to automate processes like contract reconciliation, eliminating the associated costs.
Walmart plans to roll out a pilot project to track pharmaceutical products using MediLedger technology with the U.S. FDA in June. 👍
Guess who's back 😜
According to a recent Twitter post, infamous security pioneer and cryptocurrency enthusiast John McAfee, revealed that he is set to launch his own independent cryptocurrency, dubbed the McAfee Freedom Coin, "sometime this fall". 🤔
The coin seeks to be totally independent from traditional currencies, assets and exchanges in an effort to reach “the Holy Grail of cryptocurrency — economic freedom.”
According to McAfee, the coin is also not subject to relative price setting mechanisms of other fiat currencies or digital assets, and "is designed to confront the problem of exchange head-on… It is not based on any commodity nor is it connected to the value or behavior of any external item or entity. The value of the coin will always be zero in relation to any other currency yet its natural market value is free, completely, to grow.” 🕊️
In keeping with this goal, McAfee said in a subsequently deleted tweet, Freedom Coin will not not be launched through an ICO, will not be mined or airdropped, and will not be listed on crypto exchanges.
In this week's Tutorial Tuesday, our friends over at Goodbit have created an educational video on 'Ethereum 101?' Class is in session. Check it out here!
Other news 📰
Peer-to-peer exchange LocalBitcoins has reportedly removed the option to allow its users to buy or sell cryptocurrencies in person for cash. 😥
Coinbase has added EOS (EOS) to its crypto education rewards program, Earn. 👐
3 blockchain technology companies (Peer Mountain, MARKNetwork and IBISA) have joined a multi-industry consortium dedicated to protecting members against the threat of patent assertion entities (PAEs). 🤝
Crypto calendar 📅
16 May - U.S. SEC's decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application (decision has been delayed)
19 Aug - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
"How much do you agree with this statement: "I am more excited about the release of the Facebook coin than I am for the Bitcoin ETF approval.""
The average vote was a 4.2.
"Why or why not?"
Face book is already known, used every where, therefore its coin will attract patronage far and wide easily - Yeah I believe so too. If Facebook chooses to really push this, I don't see how it won't be widely adopted. 🤔
Facebook coin (not decentralized) will give exposure. ETF exposure will bring in buyers that will make a difference. - Well said, and ETF would bring about better price discovery imo. 😊
I think the stablecoin will be easier to understand and possibly invest in! 😊 - It would be easier to purchase, although I would not really see it as an investment but more as a medium of exchange for small on site transactions. 💲
I'm pretty much anti Facebook in general. I think that the Bitcoin ETF will help add to legitimacy of crypto. This is good. - Im rooting more for the ETF as well! 😀
facebook coin will bring large number of actual user.. i am more exited as more guys / general public will learn more about crypto.. - I think it will bring about more exposure to the crypto world. When people using the coin hear that it's a stablecoin, they will read up about it and be led to read more about other stablecoins and learn about their benefits. 🤓
Cause this info is good - Aww thank you! 💕
I want more people to know about crypto, I just scared of fb in general - Me too. They kinda control a great deal of the information that's put out there. And they know so much about us! 🤖
I do not like the gambling of etf's - Why do you see it as gambling! It can be used as a great way to reduce risk. 🛡️
Zuckerberg is not trustworthy - 🤖🤖🤖
A new stable coin what’s to get excited about? - The fact that it's Facebook's? Only the 5th biggest company in the world. 😉
Facebook can be trusted without hesitation to undermine everything they do for their own purposes. So why not trust them with money too (a store of value to be more accurate)? - Lmaooo ouch. 😂
Bitcoin ETF's will bring billions of dollars to the Crypto world. - Racks on racks. It's gonna deepen the liquidity pools when these institutions get involved. 💰
Facebook project helps Facebook. BTC ETF approval affects the world - Preach! 🗣️
Bitcoin ETF approval would bring more interest to Bitcoin potential investors than a Facebook coin. More investors to Bitcoin would mean the price would go up. - True. 👍
Well, I don't think facebook will be concerned about their users privacy... So don't have hopes on their stablecoin. - I'm more interested in the amount of exposure it's going to bring to the crypto space. Think about the billions of users, and how some of that is going to spill over into the crypto space. 🤔
Be good to see a little competition from bitcoin,can't hurt it i feel - Don't think it can tbh. No competition at all. 👑
Facebook has an audience of 2 billion users which will move crypto towards mass adoption with it being utilised rather than just form speculation. Especially in the western world. - I believe that it will indirectly help.
Not into the FB Coin at all. The Bitcoin ETF will potentially bring more commercial AND retail business to the crypto space. And that is good for ALL of us. - While I believe that the Bitcoin ETF will benefit us to a greater extent, I think we cannot discount the fact that Facebook has a really really wide audience. Imagine if just a fraction of them happen to learn about stablecoins after using the FB coin, and realize that there are other better decentralized ones out there... That could spill over to the crypto world. 🙏
Facebook has no business in the crypto world - Them entering result in some positive externalities imo. 🤔
An ETF will make a big difference to the positive. And I detest Fbook (like Google, Amazon, etc.) - Way too much power. 🤦♂️
FB is a joke . They are a centralized company that has been guilty of sharing people's data for money . I don't want anything to do with FB and will never ever trust them . - That was a poor move by them. Personally deleted that app after that too. 😠
We need more early adoption. Facebook reaches the masses and not the financial markets. Those markets are coming on board, regardless. - All in due time. 😉
It’s more important for the approval to go through. It would be the stamp of approval BTC investors are looking for. - Sigh, it's been way too long. 😔
Worse than ripple - HAHAHA. Rip. 🔪
Facebook won't be around in 5 years - I doubt that. 😂
I think it the worse thing to happen to crypto. My personal hatred of facebook aside, i believe this is just another way facebook wants to enslave human race and i believe it goes against the core of what crypto represents. - Hmm possible, they do have a good control of the information flow. 😔
I am sitting on the fence for this one. I have no interest at all in researching or investing in this. I assume it will be just another stable coin pegged to fiat. But on the positive side it will bring a lot more interest to the crypto space in general and potentially lots more investors to the space. - My sentiments exactly! 😊
Facebook is only a (dying) silly social media app and doesn't compare in size or in scope - Hahaha it's far from dying. Just take a look at the number of companies they own. 🤯
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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