Crypto Basic Podcast: Teaching You The Basics of Bitcoin and the World of Cryptocurrency. CryptoBasic
Episode 231 - Microsoft's new crypto mining system patent, 2 year anniversary of Banano, and more.
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Hi all! Welcome to this week's edition of Crypto Basic News. This time around we're going over Microsoft's new crypto mining patent, an April fools guessing game, celebrating Banano's 2 year anniversary, and more. Tune in!
- Rapid Fire
- Robert Kiyosaki, author of Rich Dad Poor Dad tweeted something regarding the current state of the economy
- Ethereum-based game The Sandbox sells out third presaleThey recently contacted us. It seems similar to a blockchain-based Minecraft. And not gonna lie, the trailer looked pretty cool.
- Much like Decentraland you can buy virtual plots of land. Sold out faster than it's February presale. 3,330 ETH, equivalent to 440k. 12,384 LAND parcels to be exact.
- A total of 166,464 LANDS will ever be available in the map that will form The Sandbox metaverse. LAND is the basic sandbox unit on the platform’s map and each LAND comprises 96x96 meters in the game world.
- Fourth LAND presale will be announced later this year as well as the game release.
- Bitcoin outperformed Dow & S&P in Q1BTC started at $7,182 at the beginning of the year. Pushed up to $10.4k and dipped below $5k for a moment a few weeks ago. It's currently at...Karim? Bitcoin is actually only down 10% in Q1. S&P lost 20% and the Dow 23%.
- Folding@Home is now the world's fastest supercomputer
- CoinMarketCap gets bought out by Binance. Annnd speaking of CoinMarketCap...
- Also, CMC had a decent April Fool's joke. And they responded to my tweet about it with a decent joke as well. -A
- April Fools or Not April Fools? - Brent
- BItcoin Creator also founded Monero, research suggests.
- Github has decided to bury Bitcoin's code inside an arctic mountain to preserve it for at least 1,000 years.
- Craig Wright Victorious in Kleiman Case After Signing with Satoshi's Keys
- FDIC has warned you not to withdraw cash from your bank account - No depositor has lost money from FDIC insured banks since 1933.
- Dead ICO Sub r/gemsprotocol has been repurposed to sell rare gems
- Leading cryptocurrency exchange Binance has decided to delist all leveraged tokens from its platform amidst claims of lack of understanding from its users.
- Microsoft Files Patent for New Crypto Mining System - K
- Patent filed last week titled Cryptocurrency System Using Body Activity Data
- According to the patent, Microsoft’s cryptocurrency would make use of body activity data
- "a brain wave or body heat emitted from the user when the user performs the task provided by an information or service provider, such as viewing an advertisement or using certain internet services, can be used in the mining process."
- They argue this could replace massive computation work because the data that is gathered from the body activity can be regarded as proof of work, "a user can solve the computationally difficult problem unconsciously"
- It also says that the system could be coupled to the users device, and let it know if the right conditions were met and award cryptocurrency to the user (whose body activity data is verified)
- Anyway, black mirror y'all
- 2 Year Anniversary of Banano
- Banano was originally launched on April 1st and forked from Nano.
- Some platinum hits:
- Made monKeys - you can generate a monkey avatar from a public key lol.
- They have functioning Wallets, Gambling Dapps, and everything you'd expect from developers.
- Remember folding at home last week? Actually Banano has been involved for over a year.
- They even introduced plans for CamoBanano - a privacy layer lol.
- their yellow paper was the best ever.
- Definitely my favorite meme coin. Maybe someday they're gonna crack the top 1000 on coin maket cap.
- Corona Virus Update, The Fed and Unemployment - K
- Economists at the Fed's St. Louis district project 47 million employment reductions
- That would be a 32.1% unemployment rate
- We already had a record 3.3m Americans file initial jobless claims, then that just doubled to 6.6m (previous number/record was like 330k)
- Two complications leading to this spike are
- 66.8 million workers in “occupations with high risk of layoff.” They are sales, production, food preparation and services.
- Other research also identified 27.3 million people working in “high contact-intensive” jobs such as barbers and stylists, airline attendants, and food and beverage service.
- Great depression peak was 24.9%
- Speaking of the Fed, they're printing about $1 million every secondbalance sheet has increased by $586 billion—to $5.25 trillion—in the week of March 18–25
- This means that on average, the Fed has been printing roughly $970,000 every second during that time period
- Fed has been printing the equivalent of Bitcoin’s market cap every 35 hours
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