Jevon's Paradox: What It Actually Means For Bitcoin

From an economic standpoint, Jevon’s Paradox is arguably the foundation of the scaling road we have started walking down for Bitcoin. Pushing things off-chain is attempting to make the use of the scarce resource that blockspace is much more efficient to accommodate a materially larger user base than the blockchain can facilitate on its own. Jevon’s Paradox states that in the presence of elastic demand for something, when the efficiency of using that thing increases, i.e. the cost per use decreases, the aggregate demand for that thing among participants will increase.

The typical example given is the fuel efficiency of cars. If cars suddenly become twice as efficient at using…

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Without privacy, DAO governance fails

On-chain governance — the cornerstone of decentralized autonomous organizations (DAOs) — was envisioned as the paragon of democratic decision-making in the blockchain industry. 

Yet the promised utopia of fair and transparent governance has encountered a significant stumbling block: the lack of privacy.

While transparency is a hallmark of blockchain’s promise, it has inadvertently laid bare the vulnerabilities of governance systems. Non-private activity during voting processes becomes susceptible to a myriad of human biases. Bandwagon mentalities, vote-bribery, social signaling and group-think emerge as unsuspecting accomplices, distorting the sanctity of decisions made within…

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Top Trending Crypto Coins of The Day

  1. Sei: Market Cap of $1.6 Billion.
  2. Solana: Market Cap of $43.7 Billion.
  3. Bitcoin: Market Cap of $915 Billion.

MIDCAP COINS:

  1. DIA: Market Cap of $39.4 Million.
  2. Zignaly: Market Cap of $66.8 Million.
  3. Bonk: Market Cap of $827 Million.

RISING COINS:

  1. Shido: Market Cap of $65.7 Million.
  2. Satellite Doge-1 Mission: Market Cap of $7.31 Million.
  3. DEXTools: Market Cap of 67.6 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Brian’s Big Bags

What is the dollar amount where the Banking Cartel starts asking tough questions like “Who’s holding the bag?” and ” Who’s holding our coins?” As we are near the approval of the ETF, I can’t help but wonder to myself “Who’s carrying the bags?”. And while everyone on Twitter seems to be ETF experts and are breaking news on punctuation changes to applications, Coinbase has quietly positioned themselves in perhaps one of the most important roles in the future of paper Bitcoin. Coinbase is now listed as custodian on 9 of the 12 Bitcoin Spot ETF applications. Read that again.

Bitcoin Spot ETF Custodian List

Source: Bloomberg Intelligence, SEC Filing

With their role in these…

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Vite Labs Unveils Ambitious 2024 Roadmap: A Strategic Blueprint for Blockchain Innovation

Vite Labs, unveiled its dynamic roadmap for 2024, highlighting a series of strategic advancements and community-focused initiatives. This roadmap underscores Vite’s commitment to fostering a robust and inclusive blockchain ecosystem.

In the First Half of 2024, Vite is set to make significant strides in enhancing its platform and services. Key initiatives include the introduction of new stake products aimed at reducing token circulation, thereby strengthening the Vite economy. The integration of VITE Passport into the web wallet and a comprehensive rebranding of the Vite iOS and Android apps are designed to significantly improve user experience.

The roadmap also details plans for ecosystem expansion through the New SBP Incentive Program, aimed at increasing SBP participation and community voting. This period will also see the ViteX gateway migration to a community gateway, the launch of the VITE DAO’s second stage, and the rollout of a dark theme for the Vite App, enhancing accessibility and user comfort.

In the Second Half of 2024, Vite’s focus shifts to technological advancement and community-driven governance. The mainnet will undergo a major upgrade named “Neptune,” improving network efficiency and performance. This will be accompanied by synchronized upgrades to both the app and web wallets.

Further empowering the community, Vite will establish a DAO treasury, managed by community members, and launch the Vite Bridge DAO for decentralized bridge management. The Solidity++ VSCode Extension release will enhance developer experience with features like syntax highlighting and code completion.

Throughout the year, Vite will continue to foster growth through strategic partnerships, listing on more exchanges, and organizing two seasons of Hackathons to inspire community developers. Additionally, Vite plans to release its VITE wallet revision 5.0.0 and organize an AirDrop for VITE holders, further solidifying its community-centric approach.

“The 2024 roadmap is a testament to Vite Labs’ dedication to innovation, user empowerment, and community engagement,” said a spokesperson for Vite Labs. “We are excited to embark on this journey and confident that these initiatives will significantly contribute to the growth and evolution of the blockchain ecosystem.”

For more information about Vite Labs and to view the detailed 2024 roadmap, please visit: Website | Coinmarketcap | X | Roadmap

DISCLAIMER: This article features a press release from an external source and may not align with CryptoCrunchApp’s perspectives. We advise readers to independently verify the information and consult professionals before making decisions based on this content.

LATEST: Valkyrie Investments expects spot bitcoin ETFs to Launch On Thursday

Cryptocurrency traders are on the edge of their seats, awaiting the United States Securities and Exchange Commission’s (SEC) decision on the first Bitcoin spot exchange-traded fund (ETF). Valkyrie Investments, one of the ETF issuers, is optimistic and anticipates the SEC to greenlight the ETFs, with trading potentially commencing on Thursday. Steven McClurg, CIO of Valkyrie Investments, envisions a substantial influx of $200 million to $400 million into their ETF, and the collective inflow across the first batch of 10 ETFs could reach a staggering $4-5 billion within the initial weeks.

While not all 13 ETF applicants may launch simultaneously due to the complexity of the process, McClurg’s team has worked tirelessly to be ready. Coordinating two custodians for crypto and cash adds to the challenge. Retail investors, financial advisors, and potential outflows from Grayscale’s fund (GBTC) are expected to lead the initial investments. This pivotal moment could usher in a new era for Bitcoin as it seeks acceptance among institutional and retail investors, with the anticipated launch date set for Thursday.

Chamath Palihapitiya | Bitcoin Mainstream Adoption In 2024

BitcoinNews.com is not investment advice.

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

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Ordinals: A New Wave of Profit-Driven and Problematic Spam

This article was originally published on Notion

The Bitcoin network, known for its robust security and efficiency, is now contending with a new challenge: spam transactions driven by profit. Unlike traditional spam, which generally involves low-value or nuisance transactions, this new breed of spam—characterized by Ordinals, Inscriptions, BRC20 tokens and Bitcoin Stamps—is created with a clear profit motive, complicating the issue further.

Related reading: Bitcoin Fees Skyrocket: Community Divided on Ordinals

Ordinals And BRC20 Tokens: Profit-Driven Nature of New Spam

Ordinals and Inscriptions: Digital collectibles and data attachments have become a… Read more on bitcoinnews

‘Don’t Want To Be Overweight Here,’ Warns Bloomberg’s McGlone As Bitcoin ETF Verdict Nears

Bloomberg Intelligence’s senior macro strategist, Mike McGlone, has issued a warning regarding Bitcoin’s BTC/USD rally, suggesting that the king cryptocurrency may be nearing a peak and could see a market correction.

What Happened: During an interview with crypto influencer Scott Melker, McGlone spoke on the surge in Bitcoin prices and investors anticipating a decision on the approval of a spot Bitcoin ETF.

McGlone said, “There’s almost always one simple prerequisite for things to break… Risk assets have to go down. That’s what’s missing. And Bitcoin is one of the riskiest assets…We’ve rallied 50% from $30,000. We’ve rallied 3x from last year… I look at it like, Okay, great….

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Prospera Honduras | Bitcoin As Unit Of Account

BitcoinNews.com is not investment advice.

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

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