DOGE NFT Worth $225M: Crypto News Recap, Sept. 3
Crypto News

DOGE NFT Worth $225M: Crypto News Recap, Sept. 3

10mo ago

Today, we talk about how El Salvadorian aren't that into Bitcoin, how Twitter could accept both ETH and BTC as tips, and how to explain Bitcoin to your parents.

DOGE NFT Worth $225M: Crypto News Recap, Sept. 3

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Today’s Top Crypto News Stories

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Most People in El Salvador Against Bitcoin ❌

In just four days, Bitcoin is going to become legal tender in El Salvador. But as the deadline draws closer, it seems the majority of people don't want this to happen. New research suggests 67.9% of the population disagree or strongly disagree with the Bitcoin Law. Many want it repealed altogether — and protestors are taking to the streets. Here's the latest.

Much Wow! Dogecoin NFT Now Worth $225M 🔥

The picture of the shiba inu dog that launched a meme that launched a joke cryptocurrency that no one’s laughing at anymore is now worth $225 million. The Dogecoin mascot’s photo was made into an NFT that sold for $4 million in June. The owners chopped it into almost 17 billion parts, auctioning 20% for $45 million. Sniff out the news here.

Twitter’s Tip Jar To Accept ETH As Well As BTC 💰

Twitter CEO Jack Dorsey is generally considered a (polite) Bitcoin maximalist, but that might not stop the social network from allowing users to tip people they follow with Ether. A new screenshot of the Tip Jar’s crypto beta appears to show the ability to add both BTC and ETH addresses to a profile for tip taking. Here's what we've learned about the leak.

Ripple Ordered to Turn Over 1M Searchable Slack Messages 😱

Slack’s messaging app is found in offices everywhere, but if you consider it private, you’re going to have a bad time. Slack stands for Searchable Log of All Communication and Knowledge. Now a judge has ordered Ripple to give the SEC one million Slack messages the agency thinks will be “highly relevant” to its unregistered securities lawsuit. Read more.

Explain Bitcoin Like I’m 5 🤓

CoinMarketCap just launched a brand new show called Explain Like I’m 5, where we’re making it easy for you, explain crypto concepts in simple terms and answer the questions we've all been asked by friends and family about crypto. 
On today’s very first episode of the show, we are joined by Kevin Murcko, CEO of CoinMetro Exchange and Paul Democritou, from The Crypto Factor to Explain Bitcoin Like I’m 5. Watch here

The Flippening 

This word sounds ridiculous. It sounds like something out of a science fiction story to me, or maybe something to do with training dolphins. But the “flippening” is actually a pretty popular topic of conversation in the crypto space, especially when Ethereum sees more gains than Bitcoin does (which is what happened this week).
So — what is a “flippening”? It’s a mythical event that many think will take place sometime in the crypto future, when Ethereum (historically always the second-ranked cryptocurrency) will “flip” Bitcoin in market cap, taking over the position of number one.
This week, Ethereum is up 25%, while Bitcoin is up a mere 7%, bringing the flippening to the forefront for some ETH heads.
At the heart of the flippening conversation — who will be number one? who is the winner? — is the idea that being ranked higher than another cryptocurrency might mean that the coin is inherently better, or has in some way “won” the crypto race.
However, I think that numbers and rankings can be deceptive when they pit coins against each other, putting projects into a competition that they may not have wanted to enter in the first place.

Was Bitcoin invented to be the “number one” cryptocurrency? No, it was invented back in 2008 as a direct reaction to what Satoshi Nakamoto saw as the failing traditional financial system. What Ethereum invented to “beat” Bitcoin and take its number one ranking? No, it was invented by Vitalik Buterin and others to fill the need for apps to be built on top of blockchain.

When we discuss the flippening — which is really far away, if it will ever happen, considering that Bitcoin’s market cap is still almost double Ethereum’s — it’s important to remember that while the crypto space currently loves to brag about its bags, tweet about its gains, each cryptocurrency (for the most part) was put on this earth to make the world a little bit better, not just to make you a quick buck.
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