Everybody loves a dog story. 101 Dalmatians. Game. The Enchantress and the Tramp.
Dogecoin.
In one of the most recent episodes of the Reddit saga opposite Wall Street, and to make a nod to the strength of billboards and the taste of the wild west of cryptocurrencies, a joke makes serious waves.
It would be Dogecoin, a cryptocurrency that, according to CNBC, had been “originally founded as a joke”. In recent days, cryptocurrencies have risen by many percentage points. This wave of activity came after a publication on a Reddit chart indicating that holders deserve to create cryptocurrencies like GameStop, which, of course, also has higher costs (actually has a whip) in recent trading sessions.
As a result, the recent value of Dogecoin, depending on the period, ranges from a penny to seven cents, compared to one or two cents not so long ago.
Take a step back and think for a minute: Dogecoin debuted in 2013 and necessarily exists as a joke that is a mixture of a dog meme and a Bitcoin game, which were two hot themes that year. dog logo on it.
Dogecoin has some features with cryptos in general, even the group’s big dog, bitcoin (mot pun). To know: it’s value that you or someone else is willing to pay for it. But there is no genuine underlying basis for value, and in the industry means MANY to pay, well, anything. A Google search shows that some corporations settle for Dogecoin, even if they seem rare. Elon Musk is on board and Tesla’s founder has the strength to send higher stocks and cryptocurrencies than a SpaceX launch with a tweet.
The frenzy was such that Robinhood said it had limited the industry of Bitcoin, Dogecoin and others. According to a CNBC report, online brokerage said that “due to normal market situations, we have temporarily deactivated the instant buying force for cryptography,” as indicated in an email to the money data site. “Customers can always use a budget set to buy cryptocurrencies. We will continue to monitor market situations and talk to our customers. “
This means that users can buy cryptocurrencies with an existing budget on the accounts, and deposits take days to erase. Transaction throttling allows for what is called a “cooling” period, allowing for more rational price discovery.
But with restrictions come the inevitable questions of whether 1) other people can do what they need with their budget (i. e. Fiat), even if it is necessarily to play indiscriminately (caveat emptor); and 2) if cryptocurrencies are allowed to jump and collapse unhindered.
This week’s frantic action can give a favorable wind to regulatory review and new parameters on how cryptos (other than virtual fiats or solid currencies, which are indexed to underlying real-world currencies and therefore have relative stability) can and can be used.
As noted in this overdue area last year, the US Department of the Treasury, through the US Financial Enforcement Crimes Network (FinCEN), proposed a set of new regulations that would stimulate the information gathering activities due. more than $ 10,000 for non-electronic transactions and $ 3,000 for electronic transactions (which are the same thresholds for monetary operations).
For now, the main issue is to prevent illegal activities, and the same attempts to deter anonymous acts that are difficult to understand from some headlines can also deter other people who raise and lower prices, but can this cause them to abandon cryptocurrencies?In other words, the madness surrounding the Dogecoin prank has a domino effect that affects Bitcoin (call it the tail that moves the dog, somehow), while the total picture is tested more closely.
——————————
NEW SME DATA: RETROSPECTIVE STUDY OF HOLIDAY PURCHASES – FEBRUARY 2021
Related: The Retrospective Christmas Shopping Study: Merchant Insights For 2021 And Beyond, a collaboration of SMEs and PayPal, examines customers’ purchasing practices and personal tastes during the 2020 holiday season and what it means for merchants now and for upcoming holiday seasons. in a balanced census survey of 2,070 U. S. customers.
Brazil is known for its colorful musical culture, its love and for being the largest country in Latin America in Terms of Array.
Treasurers faced the rapid disruption of the global pandemic last year with a request for virtual responses from their banks . . .
© 2021 What’s Next Media and Analysis