Looks like the wave of fake news about chinese bans is behind us, and crypto is on its way to catch up for the last week. Now would be a good time to exit fiat and get back into crypto. The new growth trend will be justified by new capital joining cryptocurrency markets via the blessing that governments all over the world are bestowing on the blockchain technology. Some news summaries from last week to back my position:
Ethereum has accomplished a new throughput record, processing 500,000 transactions in a 24 hour period, with the median transaction fee of $0.70. This technical achievement proves that the blockchain is scalable and usable.
America's credit system has suffered a huge blow, with 153 million records about citizen's credit history leaked to hackers. Equifax, of the four credit bureaus, has neglected basic security measures and did not patch a 9 year old security vulnerability in their software, resulting in the largest personal information leak in modern history. It's worth noting that Equifax executives sold their stock before the news of the hack was announced to the public. This would not have happened if credit reporting was decentralized. Major loss for the Fed and for US dollar, major win for blockchain.
Russia (namely mr. Putin himself) has had a sudden change of mind about cryptocurrencies. Vitalik Buterin is all over the national television, regulators promise to legalize cryptocurrency investment by the end of the year, the government is about to start subsidizing miners.
The Israel government is partnering with Microsoft on implementing blockchain-based apps. It's particularly interesting that Microsoft has recently released CoCo Framework for writing blockchain-based apps. Microsoft has missed mobile, missed the cloud, but looks like they won't miss blockchain.
Canada approves the first bitcoin fund manager.
Ukrainian government, in a move to portray transparency, will use blockchain for seized assets auctions.
And China, after all, doesn't want to ban cryptocurrencies. They just want to figure out a way to regulate them. Basically, all governments of the world agree that they'd rather depend on the blockchain rather than US dollar, and they just want to figure out a way to collect taxes on capital gains from using the cryptocurrencies.
Buy now. As they say, next stop - MOON 🚀.