Miami will begin staking its MiamiCoin earnings and will distribute the bitcoin returns among its citizens, while El Salvador kicks off the 9th edition of Labitconf 2021. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the world. crypto.
Cryptocurrencies and altcoins
📍Michael Saylor, CEO of MicroStrategy, says that investing in Bitcoin is one of the least risky currently. Bitcoin remains for Michael Saylor the best investment asset, even much more attractive and reliable than gold and stocks. The CEO of MicroStrategy, the company that has more than 114.000 bitcoins on its balance sheet, has defended the cryptocurrency Bitcoin is considered the best long-term investment alternative to protect against the devaluation of fiat currencies. Despite the high volatility with which Bitcoin is known, the cryptocurrency is a great success for those who can withstand such volatility. Bitcoin has increased in value by about 170% each year over the past 10 years, while gold has lost about 6 basis points each year, Saylor said during a interview with SkyBridge Business Development Director John Darsie.
On his Twitter account, Saylor highlighted an article from the newspaper Intelligencer, which highlights some similarities between Bitcoin and gold, such as scarcity; although the appreciation potential that Bitcoin has demonstrated in just over a decade far exceeds the precious metal.
In January of this year, Bill Miller said that Bitcoin had performed as the best performing investment asset for 8 of the last 10 years, far outperforming gold.
Bitcoin and Blockchain Adoption
📍Miami will create digital wallets to distribute bitcoins among its residents, Mayor Francis Suarez said. During a interview On CoinDesk TV, Francis Suarez, pro-Bitcoin mayor of Miami, announced that residents of the city who purchase the MiamiCoin wallet, register and get verified on it, will receive dividends directly in BTC. To provide dividends to its citizens, Miami plans to stake or make staking with their earnings in Bitcoin, and then use the returns or interest generated with this strategy to distribute it among the residents of the city.
Miami has its own cryptocurrency, called MiamiCoin (MIA), developed by the CityCoins project and based on the Bitcoin Stacks protocol, which allows the city to generate its own income through crypto mining, to finance municipal and social investment projects. It is estimated that to date, Miami has generated some 21 million dollars through the MIA cryptocurrency, launched in August of this year.
📍Movie giant AMC now accepts cryptocurrency payments. As previously announced, AMC has begun accepting payments in cryptocurrencies, including: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) y Bitcoin Cash (BCH)AMC CEO Adam Aron highlighted the news on Twitter, saying it is a big step for the corporation to offer new crypto payment options for its millions of customers.
AMC is also accepting payments through Apple Pay, Google Pay and PayPal and is considering adding Dogecoins (DOGE) among their options. Aron said that they are proud to process payments with the main cryptocurrencies on the market, and that, to date, payments through these newly enabled options already represent 14% of all their online transactions.
Events
📍Labitconf, the most important Bitcoin conference in Latin America, starts today. This Monday, November 15th, the most important conference on Bitcoin and Blockchain in Latin America begins. Labitconf 2021, the 9th edition of the conference, takes place in El Salvador, the first country in the world to make Bitcoin its legal tender.
During the conference, attendees will be able to enjoy hackathons, talks, debates, consultancies, networking, and much more. Labitconf 2021 also has spaces for attendees to enjoy local art and craft exhibitions, and even a virtual NFT gallery for artists and creators to demonstrate and showcase all their talent.
NFT and DeFi Markets
📍Yuga Labs' NFT collections move more than $100 million in sales in one day. Collections NFT Bored Apes and Mutant Apes, created by Yuga Labs, moved a sales volume of more than 25.300 ethers in the last few hours, according to data from the Opensea NFT marketplace. Bored Ape Yacht Club and Mutant Ape Yacht Club are the first and second most traded NFT collections on the popular NFT marketplace in the past 24 hours. In fiat currency, the sales volume of these NFT collections exceeds $116,8 million.
The minimum price for Bored Apes NFT crypto collectibles is 40 ethers per unit at the time of writing, while the Mutant Apes NFT is priced at 6,5 ethers.
Source: Opensea.
Rules and Regulations
📍India appoints committee to discuss current state of cryptocurrencies with industry players. The Indian Parliament issued a release The government has announced that it will meet with representatives and participants of the crypto industry on Monday to discuss the current situation of cryptocurrencies in the country. The government body has assembled a committee with several of its officials, who will discuss the opportunities and challenges of the crypto industry. As The Block highlighted, this is the first official meeting between the Indian government and cryptocurrency participants since 2017. The meeting will take place at the Parliament headquarters in New Delhi, the capital of India.
📍The Securities and Exchange Commission (SEC) denies authorization to a Bitcoin spot ETF. The Bitcoin ETF proposal submitted by VanEck was rejected by the US SEC this weekend. According to the financial regulator, the proposed Bitcoin ETF on the spot market did not meet regulatory requirements to ensure the security and protection of investors or to prevent malpractice, making its approval a risk to financial stability.
Gary Gensler, the current chairman of the SEC, had given the go-ahead to Bitcoin futures ETFs last August, but financial instruments for the cryptocurrency on the spot market are not in his favour. Gensler believes that cryptocurrencies can open up new opportunities but that they must first address all the existing risks. One of the biggest concerns of regulators is the volatility of cryptoassets and the pseudo-anonymity in transactions.
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