Coin Metrics: Bitcoin is incomparable thanks to its initial distribution

The experimental launch of Bitcoin contributed to its dispersion among the masses

Thousands of different cryptocurrencies emerged in the years following the Bitcoin Genesis Block (BTC) in 2009. Although the latest assets feature different technologies and new frills, Bitcoin maintains its advantage in a key category, according to a report published in November by crypto data company Coin Metrics.

Due to its relatively older framework, Bitcoin is sometimes compared to older versions of other technological innovations such as internet dial-up, the report explains:

„Too often these comments are part of deliberate marketing strategies, driven by the proponents of emerging crypto assets that should succeed where Bitcoin has failed. Unfortunately, when faced with a strictly technological comparison, beginners are pushed to the sidelines, especially when discussions become extremely technical“.

Technological ability is important. Cryptocurrency, with their underlying ecosystems and blockchain, however, also act as forms of money or value in addition to the technological base. Consequently, the distribution of the asset plays a key role in the equation, the report states.

In the last decade, cryptocurrencies have occupied countless stocks, especially in 2017, when many alternative crypto assets have recorded huge gains for owners. Many people and teams have produced their own digital assets, some of them competing with Bitcoin’s value proposition.

When Bitcoin became a better known name, however, the organic growth of the assets became complicated. Once the profitability for new assets was identified, what prevented creators from assigning different amounts to certain groups, including specific friends or investors? In practice, since people now expect some kind of financial value when they launch any newly created assets, these new assets do not have a uniform distribution.

The Coin Metrics report examines the centralization detected in the cryptocurrency through the data obtained from the blockchain of these assets. „Favoritism, among other unfair supply distribution models, inevitably results in incredibly centralized monetary bases,“ explains the report.

„Through on-chain data, we can identify structures of properties that are antithetical to Bitcoin’s and quantify the degree of centralization of wealth within their digital economies.

Basically, Bitcoin was born as an experiment unlike anything else before. Very few people understood how the asset worked in the beginning. „There wasn’t even an exchange rate to push the very first users to even remotely imagine evaluating their Bitcoins,“ said Coin Metrics:

„Also because of the already mentioned technical complexity, the results of the first experiments on Bitcoin were disastrous: it is believed that an exorbitant number of BTCs were definitely lost during that period. After all, users were treating Bitcoin as it was then: a curious experiment with digital Monopoly money“.

Through graphs and examples, the report outlines Bitcoin’s initial journey, which produced a wide distribution of coins. Mining activities also influenced the dispersion of the asset. The data presented in the report, however, are strongly based on the analysis of wallet crypto addresses. Sometimes users use numerous wallets and addresses, so the accuracy of the results remains questionable.

Tone Vays, crypto analyst, trader and YouTuber, also expressed similar opinions about the decentralization of Bitcoin in the past.

Last month marked the 12th anniversary of the publication of the Bitcoin white paper.

DeFi tokens continue to suffer as Bitcoin dominates

DeFi tokens continue to fall as the price of BTC rises.

Many leading tokens have lost over 70% since their all-time highs.

DeFi TVL still remains high at over $ 11 billion.

Much of the interest and media madness surrounding the decentralized finance (DeFi) industry that emerged last summer has certainly started to wane, especially when it comes to token prices. Many of the top performing DeFi assets are still bleeding despite the uptrend in the larger cryptocurrency market.

In terms of total locked-in value, the DeFi space still looks bullish with only an 8% drop in crypto collateral in the ecosystem from its all-time high. The current figure stands at $ 11.3 billion according to DeFi Pulse, however, the dollar-denominated measure that remains high could be due to Ethereum prices recovering $ 400.

The same cannot be said of the majority of DeFi-related tokens, however, as most continue to drain while Bitcoin’s market share slowly consumes them. Messari researcher Jack Purdy attributes this to an oversaturation of projects combined with insufficient new capital entering space.

The carnage continues.

This is what happens when there are too many projects with not enough money going into the space.

For those who are able to provide real value, we’ll look from afar and salivate these reviews

Le dump DeFi continue

The funds that were randomly tossed into DeFi tokens over the summer appear to be moving towards Bitcoin as BTC recently hit an almost three-year high of $ 14,400.

Looking at top tokens by protocol, Uniswap’s UNI suffers among the rest with another 5% drop so far in the day and is trading for $ 1.82.

Since its historic high of nearly $ 8 in mid-September, the UNI has lost 76%. That decline may well get even worse when token farming ends on November 17 and millions of dollars are thrown into the market.

$ UNI – Now under $ 2, not surprisingly. When you give away millions of tokens for free, you can’t be surprised when they all start selling. I just hope people sold when they had a much higher price.

Second in terms of TVL protocol is the MakerDAO crypto mainstay, which is holding up well as its native MKR token has remained relatively stable in terms of price over the past year.

Wrapped Bitcoin is third in terms of TVL and it has also risen to record highs of over $ 2 billion in tokenized BTC on Ethereum.

No more suffering on the horizon

Compound Finance’s COMP token continues to take a hit with a 74% drop from its peak, while Aave’s 100-fold supply reduction program hasn’t stopped its new asset from dumping 52 % since last month.

The Curve DAO token, CRV, is in a world of suffering losing an additional 4% today and an agonizing 98% since its all-time high during the DeFi media madness in mid-August. Synthetix is ​​up for the year but has lost another 64% from its peak of $ 7.50 at the end of August.

Bitcoin surge poszerza ołów kryptoński nad złotem jako główny atut 2020 r.

Gwałtowny wzrost Bitcoin’a podczas amerykańskiego tygodnia wyborczego sprawił, że wyniki kryptokurwaluty w tym roku jeszcze bardziej wyprzedziły główne klasy aktywów.

Indeks kryptograficzny Bloomberg Galaxy Crypto Index dla walut cyfrowych, w tym Bitcoin, wzrósł o około 120% w 2020 roku, przekraczając blisko 30% skok złota. Indeks kryptoński wzrósł o około 11% w ciągu trzydniowej serii od dnia wyborów w USA, czyli w okresie, w którym dolar spadł do najniższego poziomu w 2018 roku.

Kryptończycy twierdzą, że narastająca pandemia i przesuwanie się dolara wśród coraz bardziej rozluźnionej polityki pieniężnej spowoduje wzrost zysków, ponieważ inwestorzy będą poszukiwać zapasów wartości. Sceptycy argumentują, że rynki kryptońskie mają za sobą historię dzikiej huśtawki, a ich płynność rośnie.

Kryptończycy twierdzą, że narastająca pandemia i przesuwanie się dolara amerykańskiego w warunkach coraz luźniejszej polityki pieniężnej spowoduje wzrost zysków.
Demokratycznie nominowany Joe Biden pojawia się na skraju przejęcia prezydencji przez Donalda Trumpa, który zakwestionował wiarygodność wyborów.

Zwarty wyścig senacki mógłby pozostawić Izbę pod kontrolą republikanów, tworząc podzielony rząd, który zmniejszyłby szanse na ogromne bodźce fiskalne i wywarłby presję na Rezerwę Federalną, aby jeszcze bardziej rozluźniła politykę pieniężną.

„Złoto, srebro i bitcoin zadziałały jak marzenie w słabym środowisku dolarowym i przyciągnęły ogromne zainteresowanie klientów“ – napisał Chris Weston, szef działu badań w Pepperstone Group, w liście do klientów. Zdaniem Westona, dalsza znaczna słabość dolara zachęciłaby do „jeszcze bardziej konstruktywnego spojrzenia“ na złoto i bitcoin.

Bitcoin przekroczył 15 000 dolarów w tym tygodniu i wzrósł o 2,1% od 14.00 w Tokio. Wskaźnik Bloomberg Galaxy Crypto Index wzrósł o 3,1%. – Według Erica Lama, (c) 2020 Bloomberg LP

JPMorgan elogia a Bitcoin y luego empuja a JPM Coin, establece una unidad criptográfica dedicada

Después de que los analistas de JPMorgan elogiaran a bitcoin, diciendo que el precio de la cripto-moneda podría triplicarse, JPMorgan revela que ha creado una unidad de criptografía dedicada y que su propia cripto-moneda está siendo utilizada comercialmente por una gran compañía de tecnología por primera vez.

El criptograma de JPMorgan ahora se utiliza comercialmente

El banco de inversión global y la compañía de servicios financieros JPMorgan Chase ha creado una unidad de negocios dedicada al criptográfico llamada Onyx con más de 100 empleados, informó la CNBC el martes.

El anuncio de JPMorgan se produjo después de que un equipo de analistas del grupo de Estrategia de Mercados Globales de la firma promocionara el Bitcoin Revolution como una inversión alternativa al oro entre los milenios, sugiriendo que el precio del bitcoin podría „duplicarse o triplicarse“ si las tendencias actuales continúan. Sus comentarios se produjeron después de que Paypal anunciara que la empresa apoyará las criptodivisas, incluido el bitcoin.

Takis Georgakopoulos, jefe global de pagos mayoristas de JPMorgan, explicó que la propia criptodivisa de JPMorgan, la Moneda JPM, está siendo utilizada comercialmente por primera vez esta semana por un gran cliente tecnológico sin nombre para enviar pagos en todo el mundo. Añadió que se están incorporando otros clientes.

Georgakopoulos detalló además que el banco está enfocado en mejorar los pagos al por mayor, específicamente en áreas donde una mejor solución podría ahorrarle a la industria cientos de millones de dólares. CNBC señaló que como uno de los mayores actores de esta industria, JPMorgan mueve más de 6 billones de dólares al día a través de más de 100 países.

Según el sitio web de JPMorgan, „La moneda de JPM se basa en una tecnología basada en cadenas de bloques que permite la transferencia instantánea de pagos entre clientes institucionales“ y „Una moneda de JPM siempre tiene un valor equivalente a un dólar estadounidense“. Además, „La Moneda JPM se emitirá en Quorum Blockchain y posteriormente se extenderá a otras plataformas“.

ATRI launch: Atari token collapses by -75% in 2 days

Atari’s cryptocurrency, ATRI, was eagerly awaited by the crypto community. But its launch was catastrophic: the token unscrewed from the first days, and problems accumulated.

A very complicated launch for Atari’s ATRI

Atari’s ATRI token marked a turning point for the crypto ecosystem: it was the first time that a major developer had officially launched into a cryptocurrency. This is why ATRI was also monitored. A month ago, Atari organized a public presale of ATRI . The tokens were offered at a reduced price of 0.08 dollars, in order to promote their circulation. The normal public purchase price, however, was set at $ 0.25 per token .

But the launch of ATRI was catastrophic for Atari. On Bitcoin Trader, it only very briefly held its price above $ 0.08, before slipping. Yesterday, it touched 0.04 dollar , before rising slightly last night. But it is still well below the threshold of its presale price, and it drops in less than two days by more than 75%:

ATRI Atari course prices

However, its price seems to have started to rise again: CoinGecko lists the price of ATRI this morning at 0.09 dollars . But that’s still a much lower threshold than the introductory price.

Problems that have accumulated

It must be said that the sale of the ATRI token experienced several problems. Investors have reported difficulty receiving their funds, and withdrawals have also experienced unusual delays of up to 4 p.m. According to some users , customer service also stood out for its lack of responsiveness when these issues emerged.

For now, the release of the Atari token is therefore a failure. The legendary video game publisher, however, relied in part on this cryptocurrency to return to the fore . Notably, Atari’s token Twitter account has been completely silent since this weekend. It is therefore difficult to envisage the continuation of the project for Atari, because the majority of investors have effectively lost money . This shows that whatever the reputation of its brand, the success of a crypto asset is never guaranteed …