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NFL’s Russell Okung to Bitcoin Energy Critic Elon Musk: ‘Stick to Space’

Unhappy with the Tesla and SpaceX CEO’s statements about Bitcoin’s energy consumption, Okung is fighting back with billboards.

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In brief

  • NFL player Russell Okung has launched a billboard campaign against Tesla and SpaceX CEO Elon Musk, due to his recent comments on Bitcoin.
  • Okung is a well-known Bitcoin aficionado who reportedly converted half of his $13 million NFL salary for 2020 into BTC.

Carolina Panthers left tackle Russell Okung is an accomplished NFL veteran with 11 seasons under his belt, a Super Bowl win, and two Pro Bowl selections. But over the last couple years, he has become almost as well known as a Bitcoin aficionado, reportedly converting half of his NFL salary into the leading cryptocurrency and launching a “Bitcoin is_” educational campaign.

Now, Okung is setting his sights on a perceived opponent of Bitcoin and taking his BTC advocacy to new heights—thanks to physical billboards.

Today, in a riff on the common “stick to sports” critique often waged against professional athletes who engage in social commentary, Okung announced the launch of his “Stick to Space, Elon” campaign, which is meant to push back against SpaceX and Tesla CEO Elon Musk’s claims about Bitcoin and the environment in recent weeks.

The campaign will feature billboards in Miami, Florida beginning tomorrow, ahead of the start of this weekend’s Bitcoin 2021 conference, along with mobile billboards near SpaceX’s launch facility in Brownsville, Texas and Tesla’s facility in Santa Clara, California.

 

Each billboard will feature an image of Okung along with the message, “Stick to Space, Elon.” The two-week campaign will also include an online component. According to a press release, the billboards are “meant to provide a gentle reminder to the public that Musk has been around Bitcoin for only a few months and is not an authority in this domain.”

“Bitcoin is humanity’s best shot at freedom. The public narrative needed correction as Elon apparently misunderstands its true benefit to our species,” Okung told Decrypt via email. “No individual is a threat to Bitcoin in the grand scheme of things. In Elon’s words, it is inevitable. His impact on Bitcoin is temporary.”

Earlier this year, Musk was seen as a leading proponent of Bitcoin, following the lead of MicroStrategy CEO Michael Saylor in buying up large sums of the cryptocurrency to hold on his company’s balance sheet. In February, Tesla announced that it had purchased $1.5 billion worth of Bitcoin, and would also accept BTC as payment for its electric cars. Bitcoin’s price soared following the announcement.

Last month, however, Musk changed his tune. He tweeted that Tesla would no longer accept Bitcoin, stating that the firm was “concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions.” Musk said that Tesla was also considering other, more energy-efficient cryptocurrencies. Bitcoin’s price sank and took the rest of the crypto market with it, while Bitcoin enthusiasts grimaced at Tesla’s due diligence process.

Since then, Musk has said he’s working with Dogecoin developers to help advance that meme-based cryptocurrency, and spoke with North American Bitcoin miners alongside Saylor. Some of the region’s mining firms have formed a Bitcoin Mining Council with plans to improve reporting of their energy usage and aim to convince international miners to follow suit. As of this writing, Bitcoin’s price is still more than 41% off of its all-time high set in April.

The Bitcoin network’s energy consumption has long been a controversial subject. Digiconomist estimates that its energy-intensive proof-of-work consensus model, which requires high-powered computers to solve equations to earn BTC rewards, uses about as much total power as the country of Pakistan. Bitcoin defenders claim that renewable energy is increasingly being used to power mining, however. For his part, Okung believes that Musk’s “declarations are simply false,” according to a press release.

Okung has been one of the most outspoken NFL athletes on Bitcoin, not only converting half of his 2020 base salary of $13 million—reportedly $6.5 million—but also supporting efforts such as the recent Bitcoin-branded car at the Indianapolis 500. Other players have since followed his lead in investing in cryptocurrency. NFL player Sean Culkin announced in April that he would convert his entire salary into Bitcoin, while seven-time Super Bowl champion Tom Brady recently confirmed that he holds undisclosed cryptocurrencies.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/72564/nfl-russell-okung-bitcoin-elon-musk-stick-to-space

Blockchain

SEC delays its decision on VanEck BTC ETF, seeks public comments.

The US Securities Exchange Commission has a history of delaying the approval of Bitcoin ETFs. The regulatory hurdles and the indefinite rejections in the past have dented the hopes of a quick SEC approval. Crypto-enthusiasts have already been frustrated by the SEC’s reluctance to sign off on an ETF. In what is the most recent […]

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The US Securities Exchange Commission has a history of delaying the approval of Bitcoin ETFs. The regulatory hurdles and the indefinite rejections in the past have dented the hopes of a quick SEC approval. Crypto-enthusiasts have already been frustrated by the SEC’s reluctance to sign off on an ETF. In what is the most recent development, the US SEC further delayed passing its judgment on the VanEck Bitcoin Trust. 

US SEC continues to delay its BTC ETF decision. 

The SEC usually delivers a decision on a particular application within 45-day windows. However, to date, the agency has used the upper cap, 240 days, to review most of the Bitcoin ETF applications and has ended up rejecting them. This is the second time that the regulatory body has extended its review period by 45 days for VanEck’s ETF. Earlier this year, the SEC stated that it needed “sufficient time” to evaluate the BTC ETF proposal. The crypto community had hoped that the change in administration would result in a BTC ETF proposal, but a BTC ETF prospect still looks remote.

SEC seeks public comments on BTC ETF. 

The SEC has asked for public comment on VanEck’s BTC ETF application. People can answer questions with relevant data to substantiate their views on how vulnerable the ETF would be to “market manipulation” and whether or not the regulatory ecosystem has “changed” since 2016. Other questions require the participants to shed light on their views about the “transparency” of Bitcoin and their standpoint on the “size and regulation” of CME’s Bitcoin futures contracts. The SEC has repeatedly highlighted its concerns over fraud and manipulation in the BTC markets for denying a BTC ETF its approval until now. 

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Source: https://coinnounce.com/sec-delays-its-decision-on-vaneck-btc-etf-seeks-public-comments/

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Blockchain

UMA Technical Analysis: Price Has Fallen Below the Fibonacci Pivot Point of $12.38

UMA price has tested and fallen below 23.6% FIB retracement level of $13.14. If the price falls below the 23.6% FIB extension level in some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well.

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Universal Market Access is a protocol to create synthetic assets that are based on the Ethereum blockchain. A synthetic asset is a different asset class that represents the value of the underlying asset. However,  UMA helps its users to create self-enforcing financial contracts and run them on Ethereum. The following UMA technical analysis will predict the price trends for the next few days:

Past Performance

On June 10, 2021, UMA started trading at $13.01. As of June 16, 2021, the closing price of UMA was $12.04. Thus, in the past week, the UMA price has plummeted by roughly 7%. In the last 24 hours, UMA has traded between $11.85-$13.14.

https://d229noksprj98s.cloudfront.net/wp-content/uploads/2021/06/uma-technical-analysis-price-has-fallen-below-the-fibonacci-pivot-point-of-12-38.png

https://www.tradingview.com/x/AoAaDOFl/

Day Ahead And Tomorrow

Currently, UMA is trading at $12.20. The price has increased slightly from the opening price of $11.97. Thus, the market looks positive.

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The MACD and signal lines are negative. However, a bullish crossover by the signal line over the MACD line has occurred. Thus, the overall market momentum is bullish, and we can expect a price to rise. However, both the lines are close to the zero lines and may change signs soon. Thus, a trend reversal is on the horizon.

The OBV indicator is gradually falling. Thus, selling volumes are higher than buying volumes. Hence, we can expect the UMA price to decrease.

The RSI indicator is at 49%. It has just rallied from the 30% mark. Thus, buying pressures are slowly mounting. Hence, we can expect the price to start rising again in a few hours.

UMA Technical Analysis

The price has fallen below the Fibonacci pivot point of $12.38. As some oscillators have shown bearish signals, we can expect the price to fall below the first Fibonacci pivot support level of $11.81 soon.

READ  Are Bitcoin [BTC] and Gold Prices Correlated? – ‘Pomp’ and Schiff to Battle Soon

The price has tested and fallen below the 23.6% FIB retracement level of $13.14. If the price falls below the 23.6% FIB extension level after some time, this implies that the price downtrend is strong. In that case, the price downswing is likely to continue tomorrow as well.

#UMA #Universal Market Access

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Source: https://www.cryptoknowmics.com/news/uma-technical-analysis-price-has-fallen-below-the-fibonacci-pivot-point-of-12-38

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Blockchain

Ethereum Non-Exchange Whale Holdings Hit A 5-Year High, Michael Saylor Praises ETH

For the last week and more, the world’s second-largest cryptocurrency Ethereum (ETH) has been trading under pressure with its price failing to hold above the $2500 support levels. However, ETH whales seem to be making the most of this price correction and have started accumulating in big numbers. As per the recent data from the

The post Ethereum Non-Exchange Whale Holdings Hit A 5-Year High, Michael Saylor Praises ETH appeared first on Coingape.

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For the last week and more, the world’s second-largest cryptocurrency Ethereum (ETH) has been trading under pressure with its price failing to hold above the $2500 support levels. However, ETH whales seem to be making the most of this price correction and have started accumulating in big numbers.

As per the recent data from the on-chain provider Santiment, the holdings for the top ten Ethereum non-exchange whale wallets have surged rapidly in recent times. The combined holdings of these top-ten wallets have climbed to a massive 19.67m coins, the highest over the last five years since July 2016.

Courtesy: Santiment

On the other hand, Ethereum (ETH) whale addresses holding 10K to 100K tokens have remained at an all-time high despite. But at the same time, mid-tier addresses holding between 10-10K ETH continue dropping.

Recently, Ethereum has been in the eyes of institutional players and market veterans. Bitcoin evangelist and MicroStrategy CEO Michael Saylor recently went on praising Ethereum.

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Michael Saylor – Ethereum Provides Financial Establishment

In a recent interview with CNBC, the Bitcoin evangelist for the first time spoke about other digital assets apart from BTC. Talking about Ethereum, he said that the blockchain will disrupt traditional finance. Saylor said:

“You’re going to want to build your buildings on a solid footing of granite, so bitcoin is made to last forever — high integrity, very durable. Ethereum is trying to dematerialize exchanges and the finance establishment. I think that as the market starts to understand these things, there’s a place for everybody.”

Michael Saylor’s MicroStrategy has been massive raising funds over the last few months to invest in crypto.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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Source: https://coingape.com/ethereum-non-exchange-whale-holdings-hit-a-5-year-high-michael-saylor-praises-eth/

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Blockchain

CNN Launches “Vault” to Sell NFTs of Historic News Moments

The WarnerMedia-owned multinational news channel CNN is launching “Vault by CNN” to offer a select set of NFTs from the channel’s 41-year old archives.

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If you’ve ever wanted to own a piece of history, now might be your chance. The WarnerMedia-owned multinational news channel CNN is jumping into the NFT space with a new offering called “Vault by CNN”. The project will mint a select set of NFTs from the channel’s 41-year old archives on the Flow blockchain, which is also home to NBA Top Shot, a marketplace for sports highlights.

CNN NFTs Will Be Available in Late June

While CNN hasn’t specified the details for its first batch of NFTs, the channel has hinted that the offering will be based on its early exclusives, world history, and Presidential Elections. “Vault” will begin dropping these moments over a span of six weeks starting in late June 2021. Users could expect the successive collections to cover more topics and themes as Vault by CNN adapts to the community.

Explaining the rationale for the launch of its new service, CNN stated:

“Until now, there has been no way to ‘collect’ these moments. Users can often find old footage online, or packaged up in documentaries, but they cannot ‘own’ them or display them in the way they can with a print newspaper or magazine.”

The tokenized news moments will be available in a combination of both limited and open editions. To purchase these tokens, users will have to sign up for “Vault”, where they will store the moments. Unlike other NFT shops, users are not required to fulfill their payments in cryptocurrencies; they can buy their tokens using traditional methods such as credit cards. Although, users will need to create a digital wallet with the mobile application Blocto.

Users Will Be Able to Render Their NFTs Offline

CNN has partnered with video framing company Infinite Objects to help users render their NFTs onto a screen without an internet connection. 

Interestingly, Fox and Time Magazine have also announced their foray into the NFT market before CNN. As of yesterday, Fox Corporation revealed that it was investing $100 million in Blockchain Creative Labs for NFT content creation. 

READ  CHSB Technical Analysis: Breakout of the Pivot Resistance Level of $1.35

#CNN NFTs #Fox NFTs #News NFTs #Vault by CNN

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Source: https://www.cryptoknowmics.com/news/cnn-launches-vault-to-sell-nfts-of-historic-news-moments

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