Multicoin Capital Exec Says There ‘May Not Be a Crypto Bear Market at All,’ Claims ‘Bitcoin Will Get Flipped’

Multicoin Capital Exec Says There 'May Not Be a Crypto Bear Market at All,' Claims 'Bitcoin Will Get Flipped'While the crypto economy has tumbled in value during the last two weeks, the managing partner at Multicoin Capital, Kyle Samani, recently shared his views on why he thinks the “next bear market will not be like the last one.” In fact, Samani remarks that there may not even be “a bear market at all.” […]

Bitcoin & cryptocurrency news

Why The Ethereum Foundation Launched A Client Incentive Program

The non-profit organization that backs Ethereum has announced a new initiative to the benefit of the infrastructure supporting this blockchain. Launched to contribute to the network’s health and decentralization, according to an official post, the Client Incentive Program will promote diversification in the Ethereum ecosystem. Related Reading | TA: Ethereum Breaks Key Support, Why Bulls Could Still Step In In that way, the foundation believes Ethereum will become a stronger network capable of dealing with future attacks and issues. In addition, a more diverse network will have more participants deciding over the future development of the underlying blockchain. The Foundation believes clients are a key part of the Ethereum ecosystem and that he had obstacles to receiving financial support. The organization claimed the following: (…) more avenues have become available for these teams to build sustainable businesses, but most of those focus on mainnet-adjacent opportunities rather than the main Ethereum network. Additionally, these opportunities generally do not scale proportionally to the amount of value created Thus, the Ethereum Foundation will offer the teams behind the clients “denominated rewards which unlock over time”. These rewards will be based on the constant development of the clients, their software performance, and security requirements. In total, the Ethereum Foundation will destine around 4,608 ETH for or 144 validators for each client to operate. The Foundation added: The size of these grants recognizes both the excellent work performed over the past few years and the many development challenges expected well into the future. The teams eligible for the program are Go-Ethereum (Geth), Lighthouse, Nethermind, Nimbus, Prysm, Teku, Besu, Erigon, and Lodestar. The latter will receive a 50% stake, according to the Foundation, with all funds’ ownership to be vested across several years. Contributing With The Ethereum Ecosystem Sustainability The Client Incentive Program will begin to post the Merge, the event that will combine the Ethereum blockchain with the Beacon Chain, the network supporting Eth 2.0. The teams will be able to operate the funds, but the financial support is aimed at the long term, as the Foundation clarified: In order to receive this and subsequent tranches of validator withdrawal credentials, teams must continue to maintain their clients, meet performance benchmarks on mainnet, and generally contribute toward delivering the Ethereum community’s roadmap, as it evolves over time. This program will enable clients to earn rewards via staking or withdrawal, provided they complete the vesting period. However, it will not eliminate EF grants. Péter Szilágyi, team leader at the Ethereum Foundation, celebrated the initiative and was glad to see Geth included in the list of clients that will receive the funds. This decision was made despite Geth being part of the foundation itself. Szilágyi added: We’re still figuring out how to utilize the grant but will probably put it towards long term contributor incentives. Related Reading | TA: Ethereum Plunges to $4K: Can Bulls Save the Day? As of press time, ETH trades at $3,774 with a 1.6% profit in the daily chart.

Dogecoin tesla

Tesla To Accept Dogecoin For Merchandise, Token Soars 30%

Tesla CEO Elon Musk said the electric-car maker will take dogecoin as payment for its merch, causing the cryptocurrency to soar by as much as 33%. Elon Musk’s Revelation Sends Dogecoin Up 30% Prior to Musk’s revelation, the price of Dogecoin was declining, but it immediately soared by as much as 30%. According to cryptocurrency statistics website Coinmarketcap, it was recently up 26% at $0.2092. Musk said in a tweet: “Tesla will make some merch buyable with Doge & see how it goes. The Tesla CEO has long been a backer of dogecoin, a cryptocurrency based on a Japanese Shiba Inu dog that was created as a joke in 2013. Tesla sells t-shirts, ‘Giga Texas’ belt buckles, and miniature models of its vehicles, as well as unique limited-edition items like the ‘Cyberwhistle,’ which is based on the company’s much-anticipated Cybertruck. It just released a kid’s quad bike called the ‘Cyberquad,’ which is based on the truck. In a Twitter poll in May, Musk asked people if they wanted Tesla to accept dogecoin. During his guest-hosting stint on the “Saturday Night Live” comedy sketch TV show in May, he referred to dogecoin as a “hustle.” Related Article | Dog Eat Dog: Elon Musk Leaving Doge Behind For New Dog Coin? Musk stated in a May tweet that he was collaborating with dogecoin developers to increase the system’s efficiency. Dogecoin prices soared by 22% as a result. Then, in June, he tweeted that it was “critical to support” a proposal to lower Dogecoin fees, making the cryptocurrency more competitive with other cryptocurrencies. Musk, who has more than 66 million Twitter followers, has been heavily involved in this year’s retail trading craze, tweeting about cryptocurrencies and assisting in the movement of their prices. Musk has done it again | DOGEUSD on News Comes As Musk Is Named Person Of The Year On Monday, the world’s wealthiest man was selected as Person of the Year by Time’s Magazine. The publication called Musk “clown, genius, edgelord, visionary, industrialist, showman, and cad.” Musk argued that dogecoin is more suited for transactions than bitcoin in his statement. BTC, according to the Tesla CEO, is more suited as a store of value. He also said he “doubts that crypto will replace fiat currency.” Related Article | Elon Musk & Crypto: “How One Man Has All That Power” Nonetheless, at the end of Q3, Tesla still had $1.26 billion in BTC on its balance sheet. DOGE is not owned by the corporation. Musk, on the other hand, has previously stated that he owns dogecoin, bitcoin, and ether. Featured image from iStockPhoto, Charts from

Bitcoin & cryptocurrency news

Ledger opens up waitlist for its ‘Crypto Life’ debit card

Ledger, the popular blockchain asset security and hardware wallet company, announced it has opened a waitlist for the launch of its Crypto Life (CL) Card. Users will be able to top-up and manage the card easily and securely through the Ledger Live application. Features Include: Access to liquidity using the crypto as collateral. Open a […]

The post Ledger opens up waitlist for its ‘Crypto Life’ debit card appeared first on CryptoNinjas.