After Staggering Run, Litecoin Regroups
| Litecoin has hit a wall, trading below $140, down about 9% over the past seven days. It would seem investors are engaged in some profit taking – after all, LTC skyrocketed by more than 225% since September and, as of one point earlier this month, it had already risen by 20% in 2021. A stronger dollar, owing to virus concerns, has not helped LTC which is being tossed aside alongside other altcoins, stocks and commodities. |
Crypto Community Commemorates 12th Anniversary Of First-Ever BTC Send
| On this day 12 years ago, computer scientist Hal Finney received the first ten Bitcoins ever sent. The transaction was instigated by Satoshi Nakamoto, the network’s mysterious, pseudonymous creator. Finney, known for his work in advanced cryptography systems, was the second person to run Bitcoin. He died in 2014. A theory that Finney was actually Nakamoto lives on (Decrypt). Correction Correction: An item in yesterday's Unboxed referenced an inaccurate figure for the total market capitalization shed by Bitcoin during the January 8-11 correction. The correct total was $200 billion. |
China's Digital Yuan Experiment Takes Root: Machines – call them ATMs if you must – now exist that allow users to convert yuan into digital yuan via their smartphones. The machines were introduced by the Agricultural Bank of China. Chinese banks also have rolled out a new form of digital wallet, a card with a screen at the top right corner which displays relevant information, like how much money is left on it (The Daily Chain). As part of a test run, the staff at a Shanghai-based hospital has begun using the card to pay for cafeteria food. Who knows whether the average Chinese citizen would have rushed to embrace digital money, but, regardless, central planners are happy to lead the way.