“Another Week In Crypto” With Pauline Shangett. Feb 24 – Mar 1

Crypto Simpsons, New Bitcoin Billionaire, and 5+ Shades of Crypto Adoption

ChangeNOW CMO (crypto mistress officer) Pauline Shangett comments on the hottest news from the past week 

I can’t keep it to myself anymore. Some of the news from the crypto industry are so ridiculous, while the other ones – so touching that I just cannot stop myself from shouting them out to you. If you love crypto just as much as I do, you must have read about Bitcoin plunging or other currencies’ rates-related news. What you’ll find here is not me repeating what we already know. This is an open-hearted and frank report about what I, a humble crypto gal who happens to work for a cryptocurrency exchange service, thinks about what happened in the past 7 days. Let’s get started now! 

Jim Parsons explains cryptocurrency in The Simpsons episode

“People think I’m a nerd, but I’m actually super cool”. I totally agree with Jim Parsons – could one ever find a better person to explain cryptocurrency, indeed? Especially when this “Big Bang Theory” star appears in The Simpsons series and tells us how things work in crypto. Seriously, it took him less than a minute to explain the basics of blockchain and cryptocurrency – remember how much time you spent yourself trying to figure it out? 

… digital data, spread across multiple platforms…

It seems like we all need a personal Jim Parsons to explain stuff when it’s necessary. Not only in crypto though – if I ever decide to switch to quantum computing or deep learning industry, I would love to get some choice advice from this guy. Hopefully, The Simpsons will have an extra episode for that matter by that time. (Just kidding, actually. Crypto and ChangeNOW for life. 4lyfe, even).

Binance CEO tops crypto billionaires’ list with $2.6B of net worth

Back in 2018, Changpeng Zhao was proclaimed by Forbes as “crypto overlord” when he made his first $1 billion in less than a year. It took him another 2 years to double his capital – and this is nothing but a meteoric rise, which CZ predicted to happen with Bitcoin in the next few months. 

But the fun fact is that money seems to be the least significant factor that drives CZ. As he claimed in his interview in 2018, he is absolutely not money-driven – but it’s the people who made him decide to do crypto. CZ met them in Vegas in 2013, where he went to a conference to learn about blockchain and Bitcoin. 

I will show this picture to my grandchildren

“If this is the community that’s around, I’m very happy to join this industry”, CZ thought in 2013. Given all this, I’m absolutely not surprised that the man of such people-oriented philosophy managed to build a crypto exchange that earned the recognition of 6 million people in less than a year. This is a brilliant example we in ChangeNOW are trying to follow. 

“I’m actually a very bad trader. I don’t know how to trade”, – says CZ in the same interview. Isn’t this fact a little striking for the founder of the biggest cryptocurrency exchange?! Same as it’s enlightening to all of us – never stop in doing what you love, and the success will follow. But, moreover, one other thing – knowing what’s truly crucial for your job is important. CZ didn’t know how to trade, “but I know how to do trading systems”, he said. 

Well, this is what you certainly succeeded at. Congrats, CZ, you the man! 

Vitalik Buterin blows crypto price predictions in pieces 

It costs some people nothing to claim themselves experts in cryptocurrency (especially when they really are ones) and start spreading their predictions left and right. And when such ‘comfortable’ cases like coronavirus outbreak come up, it becomes easy as never to just keep track of any cryptocurrency rate – and claim it skyrocketed or crashed exactly due to this event. 

And this is what Ethereum founder thinks about this… 

… nothing to add here, really. Vitalik’s direct manner is fascinating as always. And – it is true, people tend to rationalize everything. This is just how the human mind works. Take two random events that follow each other in time, and we’re ready to claim they’re connected. Our tendency to see connections where there are none has even been made fun of at a special website with false correlations

The divorce rate in Maine correlates extremely with per capita consumption of margarine in the US. Would you claim they are connected? Me neither. But the simplicity between BTC and gold rates lets many claim that Bitcoin is the new gold. Undoubtedly, Bitcoin is not the divorce rate in Maine and gold is not margarine. But perhaps the correlation between the two does not signify they are the same (we brought together all BTC=Gold pros and cons here). This is not exactly what Vitalik was talking about, but it serves as a pretty good illustration of how our cognitive biases work. 

6 shades of crypto adoption 

 

Last week, the following has happened: 

Europe. The Bank of England’s chief cashier said it is the “crucial” central banks research digital currencies so they can strike a balance with private issuers;
Asia. Japanese authorities collaborate to advance digital currency research;
Asia. South Korean government was pressured to lower crypto taxes;
Australia. Australian judge said crypto is a legitimate investment vehicle;
North America. The Revolut mobile banking app announced entering the US crypto market;
Nearly everywhere. The G20 group has urged countries to implement crypto standards set by the Financial Action Task Force (FATF), an international money-laundering watchdog.

If this is insufficient for you to agree that crypto is about to take over the world, I will dye my hair pink with a BTC logo on top. 

Jokes aside, all this news signifies that cryptocurrency is among us, and every day it only gets “amonger”. Governments all over the world are starting to understand that crypto is something that will never eventually dissolve – and try to fit in. Not too many successful cases out there yet – but I’m following. 

Akoin adventure on the go

It seems we ‘ve missed Africa in the last paragraph – so now’s the time to fix this. Last week, we went over several cryptocurrencies launched by pop stars with the singer Akon being the most promising one. And guess what, he is not letting us down – it was reported Friday that he is going to build the Akoin cryptocurrency ecosystem on top of the Stellar blockchain (Stellar is the 13th currency by market cap). Akoin’s co-founder and president Jon Karas said they share similar values, and this was the reason for cooperation. 

Akon, Stellar Founder Jed McCaleb, and Akoin President Jon Karas. Cryptoslate

Looks like what this guy is making is not a flimsy publicity stunt, but in fact something eminent. I wish Akon good luck with all my heart. Already considering moving to the fabulous Akon Crypto City. Hopefully, it rises before my retirement. 

Thanks for reading! 

This was the first Another Week In Crypto with Pauline Shangett. I hope you enjoyed reading it, and personally, I can’t wait for the second one. Therefore, see you in a week, my dear crypto friends!