What really happened to Crypto in recent days ?
What is the root reason ?

Think about any product/goods you can see in your life, there are two types of prices.

1/ Production cost price: It is the root value of the product. Factories take time/energy/labor/materials... to complete a product then they just sell to commercial/trading companies. This is normally fixed and does not change in a long period.

2/ Market price: It is the result that commercial/trading companies just sell to end-users. Depending on the types of products, the market price can change frequently.


In terms of Bitcoin, which is called a New Gold or a new Ponzi or whatever...

What are you seeing in Binance or Coinbase or CME ... is Market Price. In this market, the volatility is big. Everyone here knows it is manipulated with the combination of Fear/Fomo, Liquidity, Fud/Good News/ Futures/ Leverage manipulation... You are a trader. You work like commercial/trading companies, also you are an end-user. Market price fluctuation can give you profit or loss.


So, what is the root value of Bitcoin?
Key words: Mining Industry/ Miners/ Electricity cost/ Production cost...

Bitcoin is a product. The production cost does not change much in a cycle. After each halving, difficulty increases, production cost will increase. That makes bitcoin special/valuable in long run.

Market price fluctuate frequently. In a cycle, Bear or bull, It tends to approach the value of production costs. No Miners, No bitcoin. This is the root value of this product.

For current context in this cycle,
Electricity cost is 20k (Electricity only)
Production cost is 29-34k ( total cost of electricity/labor/factory..)

“Rose”

Hello, $KOMmunity!

❤️‍🔥❤️‍🔥 Just like last month, we will share some details regarding our Social Engagement Burning. Find out more here: https://link.medium.com/hNuYL71Yknb

🗣 Shout out to BITCOINMACADEMY https://twitter.com/bitcoinmacademy?s=21 on Twitter as our top follower of the month for contributing to KOM burning 🙌

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📜Daily News 08/02/2022

1️⃣ DeFi Trading Platform FODL Giving Away $1M in Bored Ape Ethereum NFTs
DeFi leveraged trading platform FODL is giving away a combined 25 NFTs from the Bored Ape Yacht Club and the Bored Ape Kennel Club.

2️⃣ Assange DAO Has Now Raised More Ethereum Than ConstitutionDAO Did
Since starting its fundraising efforts on February 3, AssangeDAO has raised over 14,329 ETH, around $44.8 million, according to DAO fundraising site Juicebox.

3️⃣ Russia’s Second-Richest Man Has Sights Set on Digital Ruble, Not Bitcoin
Russia's second-richest man believes digital tokens and a central bank digital currency would help the country move forward—and make the current debate in the country regarding cryptocurrency regulation pointless, according to reports.

4️⃣ Valkyrie Capital Bitcoin Mining ETF to Debut on Nasdaq
Valkyrie Capital’s Bitcoin Mining ETF focused on renewable energy has been approved by the U.S. Securities and Exchange Commission, and it's set to go live Tuesday on the Nasdaq under the ticker "WGMI"—a crypto community acronym for “We're gonna make it.”

5️⃣ College Football's NFL Hopefuls Get Their Own NFTs at Senior Bowl
The next wave of potential rookie sensations just got their own 1-of-1 Panini NFTs that they can hold or sell.


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📜Daily News 09/02/2022

1️⃣ Lawmaker Takes Aim at Puerto Rico as Crypto Tax Haven
Nydia Velaquez called for tougher action against crypto millionaires using Puerto Rico as a tax shelter

2️⃣ Ukraine Is Using Bitcoin to 'Crowdfund War' With Russia:
A new report from Elliptic details how NGOs and volunteer groups are using crypto to fund operations against Russia

3️⃣ UN to Mark International Women's Day With Boss Beauties Ethereum NFTs
The women-focused Ethereum NFT collection Boss Beauties is debuting a one-of-one collection called Boss Beauty Role Models in New York City on March 8—International Women’s Day—that will become the first complete NFT collection ever shown at UN headquarters.

4️⃣ Here Are All the Bitcoin and Crypto Companies Airing a Super Bowl Ad
Bahamas-based crypto spot and derivatives exchange FTX is perhaps the company most responsible for creating the crypto sports playbook. Early last year, it secured the naming rights for the Miami Heat arena, then went on a sponsorship spree. It now counts seven-time Super Bowl champion Tom Brady, future NBA hall of famer Steph Curry, and two-way MLB phenom Shohei Ohtani as "brand ambassadors."

5️⃣ Meet Heather Morgan: The 'Rapper' and Forbes Contributor Arrested in the $4B Bitcoin Heist
The crypto world is buzzing over the news that the Justice Department has seized billions of dollars worth of Bitcoin stolen in the 2016 Bitfinex hack—and about the 31-year-old New York woman arrested in the case.

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📜 Daily News 10/02/2022

1️⃣ Former Domino’s Pizza VP Joins FriesDAO as Advisor
Decentralized autonomous organizations come in all shapes, sizes, and tastes. Speaking of tastes, FriesDAO announced today that Kory Spiroff, a former vice president of Domino's Pizza, has joined the group as an advisor.

2️⃣ Bitcoin Trades More Like Risk Asset Than Inflation Hedge, Says Bank Of America
While Bitcoiners often advertize the cryptocurrency as an anti-inflationary “digital gold,” Bank of America says it trades like nothing of the sort.
A recent company report indicates that the crypto asset moves far more similarly to risk assets such as equities, and reached all-time high correlations with the S&P 500 by the end of January.

3️⃣ Gucci Buys Land in Ethereum Game The Sandbox to Create Metaverse Experiences
Gucci is doubling down on its commitment to the metaverse. The designer clothing brand announced on Wednesday that it’s bought an undisclosed amount of virtual land on the decentralized blockchain game The Sandbox. Gucci will create themed experiences on The Sandbox inspired by its “Gucci Vault” platform, which lists items like Gucci-themed NFTs and vintage bags.

4️⃣ Shiba Inu Sets Course for Meme Coin Metaverse as Doge Killer Token Jumps 48%
The world of meme coins is now entering the metaverse. The team behind Shiba Inu, an Ethereum-based token that arguably has little utility but is the 13th biggest cryptocurrency with a market cap of $18.4 billion, have announced a virtual land project.

5️⃣ CFTC Wants Larger Role in Crypto Regulation—And Sam Bankman-Fried Agrees
Rostin Behnam, chairman of the Commodities and Futures Trading Commission (CFTC), is pushing for his agency to take a leading role in regulating digital assets. He maintains that his agency is well positioned to provide market protection for consumers and reduce risks in the space.

6️⃣ Why the Senate Agriculture Committee Holds Crypto Hearings
Rostin Behnam, the chair of the U.S. Commodity Futures Trading Commission, was on Capitol Hill this morning to argue that his agency needs added legislative authority in order to effectively regulate cryptocurrency markets.

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