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Crypto services dipping toes into Indian mainstream banking.

An Indian bank, United Multistate Credit Cooperative Society, is planning to expand its banking services to cryptocurrencies and cryptocurrency products. United has established a joint venture–UNICAS, in collaboration with crypto banking service provider Cashaa and aims to provide banking and walk-in services across its 34 physical branches in North India.

This service will allow United account holders to:
•integrate cryptowallets directly with their accounts
•buy Bitcoins (BTC), Ether(ETH), Ripple(XRP) and Cashaa(CAS) by paying either in cash or directly from their accounts
•take out loans against cryptocurrencies.

This comes in the wake of a reported spike in crypto trading volume to the tune of 200-400% fostered by the lifting of crypto banking ban by the Supreme Court as well as the pandemic induced lockdown.

Even though banks are still sceptical about the crypto situation in India, this is one of the major steps that will bring cryptocurrencies to the mainstream population which will help further the adoption of cryptos in India. This will also take us a step forward to attain our government's goal of increased digital payment systems in India.

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French platform Just Eat embraces cryptocurrencies.

Online food ordering platform Just Eat of France has now started accepting Bitcoins(BTC) and other altcoins such as B*H, ETH, GUSD, XRP, USDC, PAX, BUSD as alternative payment methods.

After its acquisition by Takeaway.com Just Eat's website underwent a significant revamp. They said: "Payment methods have been expanded and now include Apple Pay, Google Pay (via our Just Eat app) and Bitcoin, in addition to other payment methods if offered by restaurants (credit card, Paypal, cash, checks or meal vouchers)."

This is a remarkable shift as far as cryptocurrencies are concerned. Imagine ordering Biryani on Swiggy and paying for it in Bitcoins one day.

"John Wick" hacks official Twitter handle of Prime Minister Modi's personal website.

Twitter has said that an account for the personal website of Prime Minister Narendra Modi has been hacked. The Twitter account posted tweets and one of it said: "I appeal to you all to donate generously to PM National Relief Fund for Covid-19, Now India begin with crypto currency. Kindly Donate Bitcoin…". A few minutes later another tweet appeared and it said: " Yes this account is hacked by John Wick([email protected]), We have not hacked Paytm Mall".

This is the latest high-profile Twitter security breach since the major attack of celebrity accounts in July. The security breach saw accounts of Barack Obama, Joe Biden, Elon Musk, Jeff Bezos, Bill Gates and Kanye West tweet a bitcoin scam to millions of followers.

Despite it being obvious to many that it was a scam, the hackers received hundreds of transfers worth more than $100,000. It is extremely difficult to trace cryptocurrencies and the account the cyber-criminals used had quickly been emptied.

Bitcoin 'best reserve asset and best collateral asset ever'.

Real Vision founder and CEO Raoul Pal was seen raving about Bitcoins in a lengthy newsletter. He explained further saying that BTC beats gold on every single measure except it doesn't have 10,000 years of history.
He said "Bitcoin offers lots of other incredible potential opportunities, but its core value is that it is the hardest form of money ever invented…and that makes it priceless"." Something that has a finite fixed supply and is incredibly secure has true value" he wrote. "The fact that it is divisible, portable, transferable and exchangeable makes it have potentially more value than any other store of wealth, or any other form of money".

There are fewer Bitcoins than millionaires in the world. In the event of mining the 18 millionth Bitcoin last week as per data from Blockchain.info here's a piece of information you might find unbelievable. There are 46.8 million millionaires in the world as opposed to the 18 million Bitcoins in circulation.

Cryptocurrency can't be physically banned.

Yes, you heard us right. Though there is always a looming scepticism about "ban" on cryptocurrencies it is physically impossible to ban them since anyone can access a cryptowallet. There can be regulations to maim it but you can't stop the cryptocurrency market or kill it.

Are gold and Bitcoins related?

There is a limited amount of gold on earth just like Bitcoins. As new gold is mined there is always less and less gold left and it becomes harder and more expensive to find and mine. Along with that, as a medium of exchange, gold has been considered a hedge against monetary inflation. The same is true with Bitcoin. There will only be 21million Bitcoins and as time goes on, they become harder and harder to mine. And in this uncertain market, just like gold, Bitcoins can be used as a hedge against monetary inflation. Also, Bitcoins are decentralised and resistant to government policies.

YFI surpasses Bitcoin's all-time high past $20,000 touching $38,883 hitting $1Billion market cap.

The price of a single token of YFI is worth much more than a Bitcoin. Its price rose by 75% and reached $38.8k. Bitcoin's current price is about$11,500. One of the reasons why YFI is valued so high is due to its limit in supply with just 29,962 YFI tokens which is a small amount in contrast to 18 million Bitcoins in circulation. With this astronomical growth YFI's market cap reached $1 billion.

YFI surpasses Bitcoin's all-time high past $20,000 touching $38,883 hitting $1Billion market cap.

The price of a single token of YFI is worth much more than a Bitcoin. Its price rose by 75% and reached $38.8k. Bitcoin's current price is about$11,900. One of the reasons why YFI is valued so high is due to its limit in supply with just 29,962 YFI tokens which is a small amount in contrast to 18 million Bitcoins in circulation. With this astronomical growth YFI's market cap reached $1 billion.

Bitcoin Fun Fact 101

You might not have probably given it a thought but here's one piece of information you probably didn't know about Bitcoins. Did you know that Bitcoin has an "unofficial" animal mascot?
Yes, it does. The honey badger renowned for their toughness and ability to withstand terrible injuries seemed like a good fit for Bitcoin which has survived all kinds of attacks this year.

Parallel piece of information: Search for The Nastyass Honey Badger on YouTube.
(Thank us later.)

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Will this be Bitcoins' longest run?

Bitcoin prices have been over $10,000 in the second-longest run ever. Breaking the previous record of 28 days, BTC, on 26th August registered it's second-longest run with value over $10,000 as it entered day 29. It is the third time Bitcoin is riding this long wave, the longest being 63 days which began in November of 2017. The question that arises now is will the current rise beat the 63-days record. What do you think?

Bitcoin Fun Fact 101

You wouldn't find it hard to believe if we told you that the first-ever Bitcoin transaction amounted to 10,000 Bitcoins. But would you believe that it was entirely spent to buy two large pizzas from Papa John's?
On 18th May 2010, Laszlo Hanyecz, a programmer posted on the Bitcoin Forum that he wanted to buy two large Papa John's pizzas and wanted to use Bitcoins to pay for it. (At that time Bitcoin was valued at a meagre amount of $0.003 as opposed to the current value of $11,391 today.)
Four days later, a cryptography enthusiast, "Jercos" bought 2 pizzas for $25 and delivered it to Laszlo receiving 10,000 Bitcoins.
To commemorate this special day of its first transaction in the real world and the quirkiness around it made May 22nd Bitcoin Pizza Day.

'Bitcoin Rich List' sees an all-time high.

Bitcoin Rich List (addresses holding over 1000 Bitcoins) hit a record high. As of 24th August this year, 2,194 addresses have made it to the list. The total amount of Bitcoins held in these addresses come up to 7,868,823 which amounts to a whopping $92.2 billion.
The previous record was touched on 28th of September, last year with 2,184 addresses in the list.
The Covid-19 pandemic has caused more institutions and high-net-worth individuals to look into Bitcoin and other altcoins as an alternative to traditional markets.

East Asia dominates in the crypto trading market.

According to a new report by Chainalysis, East Asia remains the most active cryptocurrency market with the most significant number of daily transactions. It accounts for 31% of all cryptocurrency transacted in the past 12 months. Addresses located in the region have received $107 billion worth of digital assets which is 77% more than Western Europe — the second-highest receiving region.

Joe Biden, "the Bitcoin candidate".

The former US Vice President now contesting for a presidential seat is presumed to be a Bitcoin supporter. Even though he hasn't publicly endorsed cryptocurrencies he is a strong supporter of technology and innovation.
Interestingly, The Political Action Committee which campaigns for his presidential bid started accepting Bitcoin donations as early as 2016 which is in line with Biden's support of technology and innovation throughout his career.

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YFI surpasses Bitcoins.

Yearn.finance is a platform that allows users to execute various investment strategies. On 20th August, YFI, Yearn.finance's native governance token surpassed the price of Bitcoin(BTC) and became the first altcoin to ever do so. Its price jumped as high as $13,444 raising the bar set by Bitcoin earlier this month touching $12,000. This is fueled by the growing demand for Decentralized Finance or DeFi.

Bitcoin skeptics change tune.

Major American software company MicroStrategy announced it was investing a whopping $250 million in Bitcoin to protect against inflation fears and a grim economic outlook.
This wasn't the same stance MicroStrategy's CEO held way back in 2013 when he compared Bitcoin to online gambling and outrightly predicted it's death.
Dancing along to similar tune we have US banking giant Goldman Sachs entertaining client requests for cryptocurrency transactions after a "resurgence of interest" according to its head of Digital Assets, Mathew McDermott.
Goldman Sachs not too far ago in May 2020 had dismissed Bitcoin as an asset class during an investor call.
As of today Bitcoins(BTC) stands at $12,270 and has emerged as a hedge against global economic crisis. It is needless to say that Bitcoin is indeed the fastest horse in the global financial race.

In other altnews, Ripple dreams to be the Amazon of cryptoverse.

The much-debated blockchain firm Ripple is now planning to expand its use case far beyond just streamlining cross-border payments in partnership with national and international banks.

Showing optimism about the move to make their blockchain platform as worthy as their highly-rated cryptocurrency(XRP) CEO Brad Garlinhouse said they wanted to make Ripple the Amazon of the crypto world: “Amazon started as a bookseller and just sold books. We happen to have started with payments. Two years from now, you’re going to find that Ripple is to payments as Amazon was to books.”

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India now among the five-fastest growing Bitcoin users in the world.

The recent growth in Bitcoins now mirrors the spike it had shown post-demonetization. At that point, people realized the value of holding bitcoin since it is not controlled by any central authority nor ruled by fickle government policies.
The lifting of the crypto ban and banking restrictions coupled with the bull market and pandemic lockdown is energising this scene further.

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Bitcoins contests Netflix in total market cap.

Hitting a market cap of more than $200 billion (i.e. the total market price of all tokens, outstanding shares, or coins multiplied by the current market price) Bitcoins came to be ranked near Netflix. It would go higher up if it captures price levels from late 2017s and rival the scales of JP Morgan Chase and Mastercard.
Ethereum, on the other hand, is substantially smaller than Bitcoin yet in par with computer manufacturing giants like Dell with a market cap of $44 billion.

Ethereum Celebrates 5th Anniversary

Launched on 30th July 2015, Ethereum travelled a tremendous journey to become the second-largest cryptocurrency by market cap second only to the pioneer, Bitcoins(BTC). The launch of ethereum 2.0 is one of the most awaited events in the cryptouniverse and the promised upgrades sounds incredible to us.

Ethereum price flirts with $400, hits a 2-year high.

Ether(ETH), the native token of Ethereum, in the last two weeks, saw its price increase by 75% as the price rallied from $222 to $400. Ether hit $411 on August 2nd, its highest in two years.

The anticipation and buzz around ETH 2.0's arrival are strong factors that support the upward momentum for Ether.

Special year for Proof-of-stake.
With Ethereum 2.0's expected arrival this year the use of staking will become more widespread changing the landscape of future networks and blockchains. Ethereum 2.0 aka "Serenity" is an attempt to move away from the proof-of-work consensus mechanism to proof-of-stake consensus.

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Ethereum and its incredible journey.
Ever since the first eth was mined in 2015 Ethereum has evolved not only in respect to its network but also as an asset class. The first address to mine eth raked in 265.63 eth in mining rewards over time responsible for a mining career of 53 blocks. Eth which was once priced at $0.31 peaked near to $1400 per coin in 2018. It is in no short of changes looking at a major upgrade with its transition to proof-of-stake as a part of Ethereum 2.0.

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