2023-04-13

🦕 Ethereum, Elon and, The Extinct

April 13, 2023

Howdy DailyCoiners,Today’s newsletter is titled “We Held the Line.”

Ethereum upgraded, and the US inflation figures came out, and nothing bad happened. Currently, BTC is still holding $30k, and Eth is pushing closer to $2k.Let’s dive into the Eth story, sprinkled with Twitter and Buffet sugar.

✅ Shapella Surprisingly a Success
🐂 Elon Grabs the Bull by the Horns
🦕 Dinosaur Continues to Shout at the Sky

Shapella Upgrade Didn’t Quite Break Ethereum

I’ve said before that switching Ethereum from PoW to PoS was like replacing every rivet on a 747, without any tools while in flight and full of passengers.Risky and difficult.

However, it seems to have gone down without a hitch. Lead developer Tim Beiko made the following statement:

“A couple missed blocks early on, likely due to the large number of BLS changes to gossip, but overall it’s looking stable now.” In addition, fears of a mass unstaking were proved to be unfounded.Glassnode reported that since the Shanghai upgrade went live, the net staking balance has decreased by 63,150 ether ($120 million). Roughly 67,710 ETH has been withdrawn, while approximately 4,560 ETH has been deposited.So what did the price of ETH do?Well, at the time of writing, it is at $1990…an eight-month high.I think that registers as a success!

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Elon Not Messing About This Time

Well-known ventriloquist dummy Elon Musk seems to have actually done something useful with Twitter this time.

Rather than the usual boredom-induced logo changing, he has teamed up with the trading platform eToro. Twitter already has a feature that allows users to view the market data of an asset using the cashtags feature (searching for an asset's ticker with a dollar sign in front of it, e.g., $BTC).With the new partnership, however, users can click the “View on eToro” button to trade a specific asset.

Musk has repeatedly stated his plans to turn Twitter into a super app.He has been vocal about offering services such as decentralized social media, micropayments, gaming, food deliveries, ride-sharing, and shopping through Twitter.Just another day in Elon’s world-domination plan.

Warren Buffet Screams into the Void

As the saying goes, you can’t teach an old dog new tricks!

This still seems true regarding the 5th richest man in the world (currently), our favorite Diplodocus, Warren Buffet.Despite Bitcoin being the best-performing asset of the year so far (by a BIG margin), WB is still convinced it has “no intrinsic value,” and buying it should be treated like gambling.

The more he proclaims his protestations against BTC and crypto in general, the more I’m convinced that he’s wrong.As the old adage goes (that I just made up), “The more the rich old guys scream, the more right we are!”