hey welcome back everybody to altcoin daily everybody take two seconds
smash that like button support the channel i hope to provide you with value in today's video there
are so many big things happening whatsapp one of the most popular messaging apps in the world
is launching crypto payments this is huge reddit already adopting crypto already adopting ethereum
they're moving further into adoption with eth layer 2 arbitrage a different eth layer 2
polygon making big moves i'm going to clue you in on this different alt coins big coin based news
big coinbase news and of course the grand daddy itself bitcoin there's so many
big things happening in cryptocurrency today guys if you're new to the channel
make sure you subscribe we drop one video every day demystifying the cryptocurrency market again
smash that like button support the channel and let's get into it bitcoin looks incredibly strong
at this point in the bitcoin ball cycle perhaps it's gaming perhaps it's nfts that have caught
your eye and have caught most of retail's eye but to bet against bitcoin historically has always
been a bad move not only have we been showing you on this channel whether it be shrimps minnows
dolphins or whales they all continue to accumulate in addition from a network fundamental perspective
bitcoin looks incredibly strong here as well for instance bitcoin hash rate continues
to come back online nearing all-time highs true resiliency so this is when china kicked miners
out of their country or already back on top people continue to turn their bitcoin mining
machines on people continue to want to accumulate bitcoin there's only so much bitcoin supply flow
hash rate continues to increase strength of the network continues to increase and we do know of
some of the more notable people who continue to buy there are plenty of people we don't know about
perhaps we'll learn about that in a few months or a few years or maybe they'll never tell us
but stuff like this i think is a microcosm for what many entities are doing in the world today
microstrategy says it bought 1400 bitcoins since november 29th the company holds about 122 478
bitcoins as of december 8th for a value of about 6 billion these are the details and then we're
going to contextualize these details and what i'm going to say might surprise you so microstrategy
the business intelligence software company that's taken to accumulating bitcoin says it bought 1
400 bitcoins between november 29th and december 8th november 29th december 8th microstrategy was
buying bitcoin right about here pretty interesting when there's fear in the air micro strategy
again bought the company paid about 82.4 million in cash at an average price of 57 000 per bitcoin
it said in the statement as of december 8th the company holds approximately 122 000 bitcoin
purchased at an average price of 29 000 per bitcoin bitcoin currently trading at about 49 000
valuing the trove at approximately 6 billion the company raises funds for purchasing bitcoin
by selling its shares in the third quarter the company added almost 9 000 bitcoin to its holdings
at an average of 3 000 bitcoin per month so let's talk about you let's talk about us versus michael
saylor if you started buying crypto for the first time in 2021 and your portfolio is up more than
one percent usd year to date 2021 you did better than sailor this year because his average price
is 57 000 per bitcoin of course since he started buying in 2020 he's up more than that because then
his average price is 30 000 i guess my point is you know there's plenty of opportunity out there
fortune favors the bold risk versus reward of course michael saylor was never playing
the 2021 game to begin with he's playing the 2020 decade game or multiple decades game with bitcoin
and i think bitcoin has the fundamentals to be here decades from now now that being said it's
becoming more and more apparent to me that quality altcoin projects with good backing with increasing
network effects with huge treasuries they're going to be around a while too and actually
this decade might be the decade of many crypto companies breaking the four year cycle we'll see
we're getting ahead of ourselves but stuff like this makes me incredibly bullish for long-term
future of certain altcoin projects in this case eath layer 2. polygon spends 400 million to
scale ethereum with eth layer 2 around the corner polygon has a war chest of matic tokens it's using
to acquire mer a startup working on zero knowledge proofs this is what you need to understand polygon
is an ethereum scaling platform mer works on zero knowledge proofs with mer polygon can expand the
scaling solutions it offers eth 2.0 is supposed to solve ethereum's congestion problem but that
doesn't mean that polygon which has helped lower fees and ease demand pressure is going away that
doesn't mean polygons going away arbitrary optimism meatus any layer two scaling solution
is going to work with eath 2.0 and they all don't even have to succeed we'll see which one succeeds
the future is incredibly bright anyways in this case if you're unfamiliar with zero knowledge
proofs zero knowledge proofs are all about privacy they're a cryptographic way of verifying
something without handing over private information imagine having a hundred dollars in your pocket
and being able to prove this without opening up your wallet mer takes that concept and runs with
it so that developers can build whole applications within built privacy incredibly bullish on
that incredibly bullish on crypto adoption in general whatsapp deploys cryptocurrency payments
via chat in the usa so whatsapp everybody knows what whatsapp is they actually have 2
billion users worldwide 2 billion in the united states they have 75.1 billion and soon all of
those 75 million will have access to paying in crypto whatsapp has jumped into crypto integration
via a new pilot program launched in the us the app is testing a crypto payment feature
supported by the company's wallet novi you know this is owned by facebook and they're using novi
and the stablecoin pax dollar according to novi's chief stephanie kriesel and will cathcart head of
whatsapp look at your screen this is what it looks like the feature allows users to send and receive
money with novi directly from the app as seen in this image below the feature will be accessible
from within a user's chat where they will be able to select the amount to be sent later they'll see
the receiver's name and the amount to be received from the image novi will operate with a fearless
model that will allow people to connect their debit cards this will make the process of sending
funds with crypto and whatsapp at least in the us as easy as sending a message so there's starting
this in the u.s there this is a global company you can see where this is going speaking of adoption
it's always nice to see when big brands start using different cryptos and different blockchains
it's even nicer to see when they continue and expand this adoption in this case we're talking
about reddit reddit looks to expand ethereum crypto rewards to more communities after picking
eth layer 2 arbitrage to scale its community points program reddit is looking for the next
subreddit to add to its list so these are like erc based community rewards points for different
subreddits reddit first dabbled in ethereum-based crypto token rewards two years ago but has charted
a deliberate path towards scaling the program finally the popular online discussion community
appears ready to expand the initiative to a potentially much larger audience today
the site launched a new website for its community points beta program and opened up a waitlist form
which lets users and moderators alike request the feature for their community or subreddits so users
can earn community points in eligible subreddits by posting and engaging in discussion the crypto
points have value within each respective community and can be used to purchase features or engage in
community governance but they can also potentially be swapped for other cryptocurrencies or tokens at
exchanges or used for other external purposes you can put them on a decks and you can do whatever
you want with them just like any crypto quote community points are the first step towards a
different future for online communities reddit's site reads these tokens live on the blockchain
which means they are truly owned by the community over time your community will benefit from even
greater control and independence on and off of reddit truly a very special time to be alive
we ran a poll recently and i happen to know for a fact that a majority of you
use coinbase two big stories coinbase users number one coinbase launches high interest d5 yields
to 70 countries this is what you need to know quote we are making d5 more accessible enabling
eligible customers in more than 70 countries to access the attractive yields of defile lending
on their die with no fees no lock ups and no setup hassle so at the heart of this move is coinbase's
desire to make defy more customer friendly and approachable this is what they'll be offering
using the die stablecoin customers can opt in to earn defy yield customers die holdings will be
deposited with in compound finance which coinbase describes as an industry-leading d5 protocol
the interest on this yield is however variable for example in october compounds rates for supplying
die fluctuated between 2.8 percent and 5.3 percent the higher rates reflect both the unique access
to global liquidity and increased risk that can come with d5 so five point three percent
might not seem like a lot for you d5 degens but for the average retail or institution of five
point three percent just for having stable coins is certainly attractive in other news
coinbase announces ledger hardware wallet supports coinbase users will be able to self-custody their
crypto assets with ledger hardware wallet very very exciting i do want to take 60 seconds to
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traveler now accepts shiba inu as payments and they already accept many other cryptocurrencies
to me this is bull market vibes anyways that's the video today my friends let me know what
you think in the comments below subscribe to the channel smash the like and i'll see you tomorrow