Future sales of GM products in Bitcoin will depend solely on consumers. General Motors will not be a shadow of Tesla’s footsteps, which completely embraced Bitcoin as a payment form.

Mary Barra, CEO of General Motors, a vehicle manufacturer, made a statement in the company’s report of its earnings for the fourth quarter of 2020 that, at the moment, it has zero intentions of investing or selling its products in any of the existing cryptocurrencies unless customers demand it.

Barra’s statement in the report came right after the announcement made by Elon Musk, Tesla’s CEO. Musk reported that his company made an investment of about USD 1.5 billion in Bitcoin and that it would soon be accepting payments in this currency for the acquisition of its product.

Mary Barra has shown Sympathy for GM’s decision regarding cryptocurrencies and said that the company does not have plans to work with Bitcoin nor other cryptocurrencies in the market. This decision seems to depend more on its customers than on the company itself. If they want to pay with bitcoins and the demand grows, the company will walk that way.

Mary Barra says that if there is more robust customer demand shortly, there is nothing to stop GM from doing so. General Motors differs in many ways from Tesla, mainly because GM is not a company that sells its products directly to the consumer. Instead, it does so through a network of franchised dealers, so if it desired to offer its products and services in cryptocurrencies in the future, it would first need to start a process for these types of payments with the profitable franchisees.

Accepting Cryptocurrencies is Not a Problem for other Companies

For Tilman Fertitta, his actual car company doesn’t need to accept cryptocurrencies as a payment method. Fertitta, which speaks in pro of innovation, stated in an interview with CNBC on Tuesday, February 9, that the idea of ​​offering vehicles in Bitcoin never happened through his head but to his team of employees.

Tilman said: “We’ve always talked about being innovative and being ahead of everyone else, don’t be a dinosaur here, or you won’t last.”

CEO and sole owner of Landry’s, Inc clarified with this example that perhaps General Motors’ adoption of Bitcoin does not depend on its buyers but rather on each of its franchised dealers uniquely. Despite General Motors’ recent refusal to use bitcoins, the automotive company has previously set their investments in many other projects that guard close relationship to the technology on which Bitcoin works, Blockchain. GM is currently using Blockchain to update navigation maps in their vehicles and avoid identity fraud when buying these vehicles.

By: Jenson Nuñez

DAOs could be incorporated into the State as limited liability companies. These organizations seek to decentralize and distribute control among their members.

The Committee on Blockchain, Financial Technology, and Digital Innovation Technology of Wyoming, United States, introduced a bill nearly a month ago. The purpose of the document is to allow decentralized autonomous organizations (DAO) to officially join the State.

The Wyoming legislature must pass this draft law for state authorities to recognize DAOs. With this, they could be incorporated as limited liability companies (LLC), and official registries would recognize them as DAO, LAO, and DAO LLC.

The abovementioned committee introduced Bill No. 38 in the Wyoming Senate on January 12^th. These regulations provide for the formation and management of decentralized autonomous organizations, provide definitions and establish a possible date of entry into force.

However, a draft of such regulations seems to have been available to the public since December last year. According to the public record, the Senate sent the legislative proposal to the relevant Committee on February 3^rd, 2021.

Other Aspects that Bill No. 38 Includes

On page 8 of the document, there is a chapter on organizational matters that define the organizational structure of registered DAOs. There are the rights of the participants and the ways to make changes to smart contracts. In the event of a smart contract reform, the articles of the organization would have to undergo modifications or updates.

The text on page 11 deals with the operating agreements of a contract that do not provide for another matter described above at the legal level. In that case, an operating agreement can complement the operation of a DAO.

The project also addresses the administration of a DAO. The management of a decentralized autonomous organization is conferred on its members. This occurs when articles of organization or operation provide for another way of conducting.

Finally, page 16 explains that there may be adjustments to the articles and agreements of a DAO if they conflict. This indicates that the smart contract itself can make any provision to resolve this situation, even if it goes against the articles.

What is the Definition of a DAO

A DAO is an organization managed through rules encoded through smart contracts. The statutes of the decentralized organization and its governance rules appear in the code.

Smart contracts, that is, self-executing codes on a distributed network using consensus technology, are necessary for a DAO to materialize. This will ensure compliance with the conditions, which seeks to reduce significant time and costs.

The Number of DAO and Related Innovations Grows

There is an increasing number of DAOs and innovations, which contributes to their development. For example, startup Aragon created software that allows these decentralized organizations to connect to the main Ethereum network.

Alba, the 0.6 update of this software, helped more than 15,000 DAOs from the Aragon platform that ran on the testnet. Thanks to it, they were able to reach the Ethereum mainnet “with real implications”.

By Alexander Salazar

The famous entrepreneurs are looking at many advantages in decentralized finance. They are sure that some DeFi projects will fail and others will succeed incredibly.

Brothers Tyler and Cameron Winklevoss, founders of crypto exchange Gemini are firm in their belief that Ether (ETH), Ethereum’s native token, ranks as the most undervalued crypto asset of the moment. Both are sure that an evolutionary explosion will occur due to the burgeoning decentralized finance (Defi) sector, which will be the perfect moment for the cryptocurrency to show its market capitalization.

Cameron spoke with Youtuber Layah Heilpern about the potential that the Ethereum network offers. He described it as a decentralized system with capabilities for ‘building apps or really whatever the user wants when running smart contracts. Doing so requires more ether, which would serve as a digital fuel for a system like this.

Thanks to the promising potential that Ethereum has, new financial services are redesigning their cores, and as this happens, there is an increasing demand for ether. For that reason, Winklevoss believes that there will soon be an evolution in the ecosystem that he relates to the Cambrian explosion, an event from that geological age when there was the most significant diversification of organisms on planet Earth.

DeFi and the Passion the Winklevoss Feel for it

During the interview, the brothers talked about their exchange, Gemini, which supports “dozens of Defi tokens.” They sustain the idea of ​​supporting the development of the so-called money Legos since they believe that decentralized finance is the next big thing that will bring changes to the crypto world.

Cameron also clarified that designing a new financial system is always risky. He said about this matter that “there is a list of projects that will fail, but others will be incredibly successful. You have to understand that it is something new, and that is why you need to have the right lens before approaching them, “he explained.

The Winklevoss twins also talked about bitcoin. They recalled that last year they published an article on their blog in which they said that it is an undervalued cryptocurrency and that it should reach a peak of $ 500,000 per unit over the next decade. Now, bitcoin’s price continues to renew its all-time high, and they do not doubt that their predictions around Ethereum will also come true.

It was also last year when the twins warned that “there are billions of dollars in gold floating in space and Elon Musk is about to arrive there and mine them,” which would lead to inflation on the precious metal supply. According to Winklevoss, “Elon Musk, you can increase the supply of gold, but you cannot change the available bitcoins, for this reason, Bitcoin is the only fixed good in the galaxy.”

By: Jenson Nuñez

EIP 1559 might create a positive feedback loop for the price of Ether. Ethereum and Bitcoin are living in a close relationship.

Ethereum’s valuation recently appeared in a report by Grayscale, a digital asset investment firm. The company highlights three aspects to value the asset: Ether (ETH) as money, ETH as a consumer good, and ETH as an interest-bearing asset.

The document, called Valuing Ethereum, signed by Phil Bonello, refers to the EIP-1559 proposal. This implementation, which raises the introduction of a commission burn mechanism, is about creating a positive feedback loop for the price of ETH.

It should be essential to note that EIP-1559 is looking for improvements regarding the user experience and other aspects that guard a close relationship to commissions in Ethereum. When the “gas” payment happens, it will split into two parts, one of which would reach the miner, and the other would burn.

Bonello argues that the proposal would burn Ether at a rate higher than creating a new supply. This move can change the dynamics of supply and demand at a large scale, which is the basis of markets.

Grayscale also evaluated the ether role as a consumer good in the Ethereum ecosystem, and analyzed the impact that EIP-1559 could have within the network economy.

In the context of Ethereum, the investment firm finds that EIP 1559 would mutate a currency like Ether from being an exchange asset to a consumer commodity by making it like fuel instead of working as money. If this transformation happens, Grayscale predicts that EIP 1559 could be extremely bullish for its price.

Grayscale also views Ethereum as an interest-earning asset. This description refers to the rewards that those who run a validator node will receive when the final transition to Ethereum 2.0 happens.

Bitcoin and Ethereum Keep Competing for the First Place as the Best Cryptocurrency

The report also highlights the sudden rise in the price of ETH last year from less than $ 100 to more than $ 1,600 today.

Grayscale claims that Ethereum is way younger than bitcoin and the protocol keeps suffering significant transformations. Therefore, Ether, the procedures of the underlying asset, keep changing, view Ether as money, as a commodity, or as interest-bearing support allows investors to view several possible outcomes when assigning a fair value to the asset.

In its introduction, the paper highlights that, since its launch in 2015, Ethereum acquired significant interest as the second-largest blockchain network. Ethereum is now a leading financial structure that shows the complete capability to move more than $ 12 billion in daily transactions.

The report also says that this does not mean that Ethereum is better than Bitcoin, but it aims to improve various borders and, consequently, make concessions. Bitcoin has become more challenging and relatively inflexible, instilling confidence that its accounting system will not change arbitrarily. Ethereum then shows adaptability and flexibility, on which interaction, innovation, and improvement become the confident roots that sustain such currency in the crypto-environment.

By Jenson Nuñez

Bitcoin is rising more than 10% in just 24 hours and almost 30% in the last week. Tesla invested $ 1.5 billion in January, but they spoke about the investment in February.

Bitcoin (BTC) skyrocketed its price again, marking a new all-time high in price this Monday, after the announcement of an investment by Tesla for more than 1.5 billion dollars in BTC.

Although the purchase happened in January of this year, it was not until this Monday that it became public, as reported by CriptoNoticias on Monday morning. And within a couple of hours after the news aired, bitcoin’s price went from $ 39,000 to momentarily surpass $ 44,000. It even approached $ 45,000 on the exchange with an enormous trade volume in the market, Binance.

The price of bitcoin stood at about $ 43,000, still above the previous all-time high of just over $ 42,000. It increased over 11% with this recent boost, in data from CoinGecko. The current price marks about $47,415.90.

In recent days, BTC had been recovering after correcting even up to $ 30,000. But the news from the company led by Elon Musk seems to have fueled enough to resume the upward pace with which it started this year. During the last week, the increase in the paramount cryptocurrency price on the market is almost 30%.

There is a Settlement of More than 500 Million Dollars

 A week ago, Musk already appeared to have boosted the BTC price from $ 32,000 to $ 38,000 in a matter of minutes. The rise at that time came after the businessman changed his Twitter biography and mentioned bitcoin.

On that occasion, in just 10 minutes, there was a liquidation of $ 57 million in bear positions on Binance. Short parts are bets on the decline in an asset’s price, which settles (the trader loses his capital) if a rise happens at a specific price.

Now, the same thing happened, but on the OKEx exchange. As the co-founder of Glassnode @ n3ocortex pointed out, the sudden surge in bitcoin liquidated short positions for about $ 57 million almost instantly.

Bitcoin is Unstoppable, and the Currency Might be Heading to $ 50,000

According to various analysts in the bitcoin environment and the financial world, this year’s bullish expectations seem very promising. Willy Woo, recognized for his metrics to analyze bitcoin’s behavior, is one of those who maintain a more encouraging bullish stance.

Since last year, the researchers have been making some predictions about BTC prices above $ 100,000 in 2021. According to data, there was already a profit-taking period after the previous all-time high, and now the new target price is circling $ 56,000. Also, a strategist at Bloomberg noted a couple of days ago that bitcoin is about to hit $ 50,000 in the days to come.

By: Jenson Nuñez

The company that belongs to the richest person in the world bought USD 1,500 worth of Bitcoin. Tesla seeks to safeguard its surplus cash in store-of-value assets like Bitcoin.

Tesla bought USD 1.5 billion worth of Bitcoin in January, according to an annual report that they filed with the US Securities and Insurance Commission (SEC). The document, which the SEC recently posted, reflects that the electric car maker plans to accept Bitcoin as a means of payment for its products.

Elon Musk’s company, the world’s richest person, said that they made this acquisition due to an update in their financial policies. Tesla seeks to invest the surplus cash that it owns in store-of-value assets like Bitcoin. They are also looking at index funds for gold and other assets, which they will be reporting on soon.

Similarly, they stated that they could acquire other digital assets or cryptocurrencies as part of their investment strategy. They claim that there could be unfavorable scenarios to liquidate a position in digital assets. However, they consider that their position in Bitcoin is quite liquid, that is, they can sell it whenever they want.

The electric car maker said that its cash balance has risen in most of its revenue areas. That has happened because the production of Tesla units has partially stopped. The state of New York has restricted the company’s operations due to the coronavirus pandemic. Tesla’s largest assembly plants are in precisely that state of the northwest United States.

The company is in great need of investing cash in the research and development of its products. For this reason, they require to use a vehicle that maintains or increases its value over time, such as Bitcoin. The report that they filed with the SEC indicates that they had nearly USD 20 billion in cash as of December 2020.

Elon Musk, the founder and CEO of Tesla, has recently written on Twitter to influence the market for Dogecoin, whose price soared. Meanwhile, the company that he leads is acquiring this important reserve in Bitcoin.

By averaging the price of Bitcoin in January at USD 38,000, it is possible to determine that Tesla bought between 30,000 BTC and 40,000 BTC that month. “In hindsight, it was inevitable,” Musk tweeted as he changed his Twitter biography to include the hashtag #Bitcoin, which he removed days later.

Since then, people have speculated that the company had bought or would be buying Bitcoin. The official document of the report that they filed with the SEC, the regulatory agency for financial activities in the United States, confirms this.

The Bitcoin purchase that Bitcoin Tesla is making seems to be driving a significant increase in the price of Bitcoin (BTC) in the markets. After they said that they would accept the cryptocurrency as payment for their electric cars, its price soared to a new all-time high of around USD 45,000 per unit.

By Alexander Salazar