Golden Observation | Musk and V God act at the same time, cryptocurrency plunges

In the early morning of May 13, 2021, Beijing time, cryptocurrencies collectively plunged.

BTC retreated nearly 10,000 USDT from around 55,000 USDT, reaching a minimum of 45,500 USDT, which led to a sharp drop in mainstream currencies.

The recently popular animal MEME coins have also fallen sharply, especially the price of Shib, which is almost halved compared to the price on the evening of May 12.

In the early hours of May 13, 2021, Beijing time, Tesla CEO Musk announced on social media that Tesla has suspended accepting bitcoin payments because of concerns about the consumption of fossil fuels, especially coal, caused by bitcoin mining and transactions. Growing by leaps and bounds, coal has the worst impact of all fossil fuel emissions. "

At the same time, Musk said that cryptocurrency is a good idea on many levels, and its future is promising, but this cannot be achieved by making the environment pay a heavy price. Tesla will not sell any bitcoins, and Tesla intends to use bitcoins for transactions as long as bitcoins are mined using sustainable energy. Tesla is also looking to use other cryptocurrencies that consume less than 1% of Bitcoin.

Golden Morning News | A list of important overnight news on July 9: 21:00-7:00 Keywords: Square, cryptocurrency custodian, Bank of America

1. Jack Dorsey confirmed that Square is building a Bitcoin hardware wallet;

2. The Osprey Bitcoin Trust is applying to become an SEC reporting company;

3. A Swedish national was sentenced to 15 years in prison for crypto fraud;

4. A British man will find his hard drive containing $378 million in bitcoin in a landfill;

5. The trust department of First Midwest Bank holds nearly 29,500 GBTC;

6. The Ukrainian Security Agency smashed illegal large-scale cryptocurrency mines;

7. Circle lost $156 million in the process of acquiring and selling Poloniex;

8. Tetra Trust becomes Canada's first regulated cryptocurrency custodian;

9. Bank of America formed a cryptocurrency research team led by Alkesh Shah. [2021/7/9 0:38:32]

Golden Evening News | List of important news on the evening of December 7: 12:00-21:00 Keywords: Grayscale LTC Trust, Galaxy Digital, CME Leveraged Fund, XRP, USDT OTC Price

1. Grayscale LTC Trust has started trading on OTCQX.

2. Galaxy Digital Capital Management had initial assets under management of $572.7 million as of Nov. 30.

3. CME leveraged funds continue to increase their short positions and currently hold over 24,300 BTC short orders.

4. Executives of the European Central Bank: European financial authorities may formulate an investigation plan on the digital euro in 2021.

5. The co-founder of Ripple cashed out a total of over 59 million XRP in two consecutive days.

6. The Institute of Mathematics and UnionPay signed a strategic cooperation agreement to promote the construction of the digital RMB ecosystem.

7. Officials from the National Computer Network and Information Security Management Center called for attention to digital currency risks.

8. The OTC price of USDT fell below 6.4, with a discount of 2.3%.

9. The Singapore government invested 12 million Singapore dollars to support blockchain research. [2020/12/7 14:29:15]

However, Musk’s claim that “Tesla suspends accepting Bitcoin” is obviously not agreed by many people, because a large part of the electricity consumed by Bitcoin mining comes from inconvenient transportation, and there is no energy consumption market nearby, which may be wasted. "Abandon electricity and water".

Golden Noon News | A list of important developments at noon on October 10: 7:00-12:00 Keywords: copyright chain, Bitcoin rise, Filecoin

1. The total lock-up volume of Uniswap exceeded 2.7 billion US dollars.

2. The net inflow of Bitcoin on exchanges has continued to decline for two consecutive weeks.

3. Filecoin is getting ready for the mainnet launch week.

4. Glassnode: The number of Bitcoin whales has continued to rise in recent months.

5. A user spent $9,000 to transfer 5 bitcoins in the early hours of this morning.

6. Mt.Gox Fifth Creditors Meeting: It is difficult to submit the compensation plan on October 15.

7. CoinGecko third quarter report: The top ten DEX transaction volume growth rate reached 700%.

8. Zhao Lixin, chief judge of the filing division of the Beijing Internet Court: The administrative-judicial collaborative governance mechanism escorts the music industry.

9. Bitcoin continued to rise, with a daily low of $11,012.94 and a high of $11,489. [2020/10/10]

Moreover, Musk previously agreed that Bitcoin would incentivize renewable energy when replying to the CEO of Twitter.

Golden Theory of Relativity丨Li Zipeng: The digital asset on the ETH2.0 chain is BETH, and the original ETH will be destroyed: In the Golden Theory of Relativity held today, the standard Consensus Li Zipeng pointed out in his speech: Compared with the current Ethereum network, ETH2.0 has the following major changes: "1. The consensus mechanism is shifted from PoW to PoS, which will be the first implementation of the innovative PoS consensus CasperFFG algorithm that has attracted much attention. Realize. 2. Under the PoW consensus mechanism, Ethereum has only one longest chain as the main chain, while the Ethereum 2.0 network has a beacon chain and 1024 shard chains to achieve expansion. These different shard chains They can communicate with each other, and are controlled and verified by the main chain beacon chain. 3. The digital asset on the ETH2.0 chain is BETH, and the original ETH will not be available on the new main chain. ETH holders can only By means of destruction, ETH will be exchanged for BETH in a 1:1 manner. The original ETH will be destroyed to generate new BETH. This exchange mechanism is completed by the smart contract on Ethereum 1.0 and is subject to the ETH2.0 beacon chain Monitoring. 4. Staking will be one of the major functions of ETH2.0, that is, users can become validators of the ETH2.0 beacon chain by staking 32BETH.” [2020/6/17]

Jinse Finance found that Tesla announced the suspension of accepting bitcoin payments this time, less than two months after Tesla’s US official website began accepting bitcoin payments.

Two weeks ago, Tesla just disclosed in its financial report that it spent $1.5 billion to buy bitcoin in the first quarter of this year, and sold some bitcoin in the quarter, making a net profit of $101 million. Tesla's CFO said in a conference call that Bitcoin holdings decreased by 10% in the quarter, and this part of the reduction slightly helped the company's quarterly performance growth. Tesla will continue to invest in Bitcoin, believing in its "long-term value."

It is worth noting that after Musk tweeted the news, Bitcoin plunged, with a retracement of nearly 10,000 USDT from around 55,000 USDT, to a minimum of 45,500 USDT.

In addition to Musk's Twitter, some people believe that the reason for Bitcoin's big dive last night is that the encryption market is too hot recently and needs to collapse.

In addition, the market turmoil caused by the April CPI data in the United States may also be the fuse. According to data released by the U.S. Department of Labor on Wednesday, the overall CPI in the U.S. increased by 4.2% year-on-year in April, significantly exceeding the previous market expectation of 3.6%, and the growth rate hit a new high since September 2008; the core CPI in April increased by 3% year-on-year, the highest It was the fastest growth since January 1996, beating market expectations of 2.3%.

The U.S. CPI data, which exceeded expectations in April, dealt a heavy blow to the market, and the U.S. market staged a double kill of stocks and bonds overnight.

The three major U.S. stock indexes fell collectively, marking the biggest one-day drop in recent days: the S&P 500 closed down 2.14% to a six-week low, the biggest one-day drop since February. The Dow closed down 1.99%, the lowest since April 8 and the biggest one-day drop since January. The Nasdaq closed down 2.67%, the lowest since March 25. It has fallen more than 5% this week and is nearly 8% lower than its record closing point on April 27.

Technology stocks were the first to bear the brunt. Facebook fell 2.7% and then closed down 1.3%. It once fell below $300 during the session, the lowest since April 23. Amazon and Apple fell more than 2%, and Microsoft fell nearly 3%, both hitting the lowest since March 31. Both Apple and Microsoft fell for three consecutive days. Netflix fell more than 2%, the lowest since November 24 last year. Alphabet, Google's parent company, fell more than 3%, falling for three consecutive days to the lowest since April 1.

U.S. Treasuries were also sold off, with the 10-year U.S. bond yield pushing up to 1.70% to a one-month high.

In addition to mainstream coins, the animal MEME coins that have been on fire recently have also fallen sharply, especially Shib, which was almost cut in half compared to the price on the night of May 12.

Ethereum founder Vitalik Buterin has sold a large number of MEME tokens since the early morning of May 13, including 660 billion Shiba Inu tokens SHIB, 140 billion Akita Inu tokens AKITA, 43 billion Dogelon Mars tokens ELON, 2.06 million 100 million HUSKY, a total of about 16,000 ETH, worth about 63 million US dollars.

Vitalik Buterin donated a large amount of ETH and the remaining MEME tokens sold to charities, such as: donating 13,292 ETH to the non-profit charity Givewell, and donating 50 trillion SHIB (worth about 1.2 billion U.S. dollars) to the New Crown Crypto Relief Foundation in India , donated 1,000 ETH and 430 billion ELON tokens to the Methuselah Foundation, donated 1,050 ETH to the Machine Intelligence Research Institute, and donated 49 trillion AKITA to the multisig address of the Gitcoin community.

Vitalik Buterin’s detailed donation and transaction records are here: https://etherscan.io/tokentxns?a=0xab5801a7d398351b8be11c439e05c5b3259aec9b&p=2

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