Biden Executive Order, Sin City Record, and Who’s Promoting Hitler Promotions
Well, over the weekend things were a little rocky – but as of this morning, things are looking as good as they were about 3 weeks ago – which is a good sign.
Some of the rockinesses came as the Biden administration has been considering an executive order to have federal agents study the crypto industry and provide suggestions on oversight.
The US government has been watching crypto for a while, and since Biden has been in office there’s been more interest from regulatory commissions such as The Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Federal Reserve came together to form a “sprint team” earlier this year to really analyze it.
This all comes as there’s been a large number of ransomware attacks happening lately – most notably the Colonial Pipeline attack, where they paid roughly $5 million dollars in Bitcoin to get gas flowing again.
This attack had real-world consequences, causing a gas shortage and a bit of mayhem on the east coast.
Again, this is all good news – as it will bring more credibility to crypto and bring in older investors, who were either skeptical or simply misinformed about it, and drive up prices.
I wanted to share with you guys something interesting, as we consider crypto to be something very new. As it turns out, the idea was sparked a hundred years ago by Henry Ford.
Now, Ford didn’t come up with blockchain – although considering the assembly line – it wouldn’t have surprised me.
In Fact, in Dec. of 1921, the New York Tribune wrote an article called “Ford Would Replace Gold With Energy Currency and Stop Wars”.
Sound familiar?
He said that the currency would be measured in kilowatt-hours and be issued only to a certain definite amount and for a specific purpose.
Ford also criticized the banking industry, which looked much like it does today. He was quoted saying, “It’s simply a case of thinking and calculating in terms different from those laid down to us by the international banking group to which we have grown so accustomed that we think there is no other desirable standard,”
I love that. Ford did a lot of shitty things, like destroy our railroad system, but he also did a lot of great things for the world.
Of course, Ford wasn’t the only person in the past to come up with the idea of what has today formed into cryptocurrency and I’ll likely share more of those moments in history from great scientists and philosophers – but I really enjoyed that find.
Ford, however, might be one of the oldest.
Speaking of asshole banks, head of JPMorgan, Jamie Dimon – mispronunciation on purpose – came out and said he expects the government to “regulate the hell out of Bitcoin.” He also spouted the typical misinformation that Bitcoin is used for sex trafficking and ransomware.
Although he’s not wrong – it has been used for that – but it’s only a tiny fraction of the overall market. Honestly, fiat currency is used for the same purposes far more – and if we were to compare dollar for dollar I think you’d find crypto to be used less.
Dimon also said Bitcoin has no intrinsic value. Ok, boomer, blockchain technology has done far more for the world than shiny rocks and pieces of paper – which is what your industry has been historically based on.
Lastly, Dimon said “We have a free market in this country, which everyone should applaud, We pay people to do a great job. They could all sell their services elsewhere.”
The actual service industry pays $2.13 an hour, and we have a federal minimum wage that hasn’t changed since 2009. I’ve seen 0 effort from this ass hat to actually help people providing services – while he makes a salary of $31m a year.
The people actually doing the work at JPMorgan that make the money for his salary start around 28,000 a year.
Anyway, it’s time to discuss the NFT world.
OpenSea, which is the largest NFT Marketplace has come under fire recently over work they are selling that praises Hitler.
Some of the artwork is titled things like “Heil Hitler.” or “Hitler did nothing wrong”, among other works.
Open sea hasn’t made a comment about the specific works, but their terms of service claim that anything that promotes hate or violence against others will be removed. Clearly, they need a better system to check what is posted.
When I was a kid I used to love playing Intellivision – a rival to Atari.
Well, the company has been making a comeback selling NFT games. The only problem, the games are for a console that hasn’t been released.
The Intellivision Amico was supposed to be released in October of 2020, then was pushed back to April of 2021. Now – who knows? They say it will be the end of this year, but have yet to release any real date and there’s not much time left in the year.
The Amico will also come with physical game bundles if it gets released. The console is android based and will feature retro-style games as well as original Intellivision titles.
Pitfall was the game I used to play on there all the time, along with a Dungeons and Dragons game.
A record was broken this week by award-winning comic book artist and writer Frank Miller.
He released a piece that was animated with sound, based on his hit graphic novel series Sin City.
The NFT was titled “I Love You, Nancy Callahan,” and was auctioned in a short 24-hour window. It raised a total of $840,986.16 and was paid for in Gala Coin.
Sincere today is Market Cap Monday, it’s time to list the top 10 currencies based on market Cap as of this recording. There have been some changes since last week.
- Bitcoin
- Ethereum
- Cardano
- Binance
- Tether
- XRP
- Solana
- Polkadot
- USDCoin
- Dogecoin
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Resources:
White House Considering Executive Order on Crypto Oversight: Report
Colonial Pipeline Paid Roughly $5 Million in Ransom to Hackers
How Henry Ford Envisaged Bitcoin 100 Years Ago — A Unique ‘Energy Currency’ That Could ‘Stop Wars’
OpenSea, the largest NFT marketplace, is selling artwork praising Hitler
Intellivision Is Selling NFT Games For A Console That Ain’t Even Out Yet
Frank Miller Sells Sin City NFT for Insane, Record-Breaking Amount of Money
