🔴 Number of Users Who Own At Least 1 BTC at ATH | This Week in Bitcoin – Sep 14, 2020

Hi, I’m Nate Martin
from 99Bitcoins.com, and here’s what’s happened
this week in Bitcoin. Despite the most recent price dump where BTC lost about $2,000
from its price per coin, the number of people who own
at least one full BTC is at an all-time high. There are currently
over 800,000 ‘wholecoiners.’ Bitcoin investors seem unbothered
by recent price swings. America’s tax collection agency,
the IRS, is offering a $300,000 contract
to anyone who can trace transactions occurring via Monero
and Bitcoin’s Lightning Network. Anyone looking to take up the challenge has until Wednesday the 16th
to present their proposal. Switzerland maintains its leading role
in the mainstreaming of crypto by passing a comprehensive
set of regulations around cryptocurrency. The Swiss Senate passed a draft
of financial and corporate regulations aimed at promoting crypto.

One such example
would allow companies to create crypto shares and assets. Bitcoin’s hash rate hit a new milestone. According to estimates, bitcoin mining computing efforts now consume around 68 terawatt-hours
per year. This is close to the energy consumed
by the entire Czech Republic. The liquidity mining pool project,
Yfdexf.Finance, exit scammed with $20 million
in user funds. The project pulled its website
and social media accounts before vanishing. Meanwhile, the founder
of the Sushi DeFi token dumped his coins for Ethereum, crashing the price
from over $11 last week down to just over $2 this week. The founder has since reappeared
to return the $14million in ETH he gained into the project’s treasury. And now,
this week’s Bitcoin Quick Question is: What is yield farming? Yield farming is definitely
one of the hottest topics in the industry today, as the world of DeFi, which we explained in our last
Crypto Whiteboard Tuesday episode, is attracting widespread interest. Briefly, yield farming is the shorthand
for sophisticated trading strategies which includes locking cryptocurrencies
as collateral on Ethereum-based DeFi applications, and earning fixed or variable interest
against it. The coins can be allocated
towards liquidity pools and decentralized exchanges,
money markets, or other financial instruments
that are usually found in traditional finance – and have now arrived
to the cryptocurrency space in their decentralized versions.

Yield farming involves many risks and the strategies required to implement
are complicated to execute. It is important to keep that in mind
before you attempt to participate yourself. If you want to learn more
about the possible DeFi applications, visit the link in the description below. Have a question you want us to answer? Just leave it
in the comment section below. And a huge thanks to eToro for supporting us
in putting this video together. If you’re looking to trade cryptocurrencies, consider joining the millions who are already using
the unique features eToro offers, like CopyTrader, which lets you automatically replicate
the moves of top performing traders on the platform. For more information,
visit etoro.com. That’s what’s happened this week
in Bitcoin. See you next week. If you've enjoyed this video,
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