Crypto Market – Falling BSV, Schiff’s Mistake, Polybius Rising etc.

Bitcoin BSV Falling Continuously

Since rising to $422 on Jan 15 over news that Craig Wright might have received private keys to a massive Bitcoin fortune, Bitcoin SV is falling down continuously and is currently trading on $276. The downward move has been exacerbated by the news from Wright’s lawyers that he hasn’t received any such thing. The whole massive price climb was widely thought of as a pump and dump move.

Peter Schiff Admits Mistake in Accessing Bitcoin Wallet

This week in Crypto market, Bitcoin critic and gold bug Peter Schiff claimed erroneously in a tweet made on Jan 19 that Bitcoin is intrinsically worthless and has no market value.Because his password is no longer valid, somehow his wallet got corrupted and he lost all the Bitcoins he ever owned. The crypto-community was quick to provide all logical reasons and explanations as to why that cant be true. Now, Mr Schiff admitted his mistake in another tweet on Jan 22, saying how he mistook his pin for password and never backed up his seed phrase. Tough luck Mr Peter, but perhaps you shouldn’t comment or criticize something that you don’t properly understand. Still, we are happy that you at least admitted your mistake.

Defi Pulse – Total Value Locked Reduces to $789 Million

This week saw decentralized finance total value locked reduce by 9 million, to currently stand at $789 million. The growth was consistent throughout the weekend and at one point, the value totaled 837 million, but has since then seen a steady decline. This in part can be attributed to falling prices of Ethereum also, which seems to be taking a breather at $162 per share currently after trading at$176 earlier on Jan 18.

Polybius Rising

Polybius (PLBT) was the week’s highest gainer, posting over 367% gains over the 7 days period. It isn’t immediately clear as to why the crypto-asset mooned, except for a HitBTC listing on Jan 8, there hasn’t been any significant change in the fundamentals.

Binance Chief Changpeng Zhao Wants Increased Blockchain Use in Charity

Mr Zhao tweeted today that philanthropic projects should use blockchain to track funds. Whilst it has been done before, this comes as no surprise since blockchain quality of being tamper resistant and and immutability, makes it ideal to keep track of funds provided for charity.

Vitalik Buterin Wants Wallets to Have Social Recovery

After Peter Schiff’s wallet saga, Ethereum co founder took to tweeter to discuss the possibility of making wallets better, security wise easier and more user friendly. He also proposed the idea of “social recovery”,where the account owner can share his keys to multiple trusted people, who can assist with the recovery, in case of a mishap.

MetaMask Hiring Senior Mobile Developer

MetaMask – a well known and feature rich Ethereum browser wallet (added as an extension) is looking to expand its reach in the mobile section. The team currently has an early testing app on both iOS and Android. The job opening posted on 21 Jan, wants a mobile developer familiar with Ethereum blockchain and decentralized applications, it also notes that they are looking for a “developer” who can take the MetaMask extension use to the “next billion”. Due to its ease of user and user friendliness, the MetaMask browser extension is a great hit with millions of users.