May 9th Weekly Terracoin Update — Silly

Silly

There is a lot of silly stuff going on in crypto at the moment so I thought I would talk about that briefly since it keeps coming up.

Before I do that let me blow through the two top Terracoin topics.

Cryptopia

Cryptopia is still dragging their feet on restoring all coins to active trading or being able to be withdrawn. We are literally 4 months in at this point.

I know everyone is dying to start trading again, but with over a million TRC sitting on Cryptopia, I wouldn’t recommend it until they square things up.

Opinion Letter

I emailed with the lawyers on Monday and they are having a partner finalize the letter. Once they are done, we will start working on getting on new exchanges ASAP.

Now to the silliness!

Silly

In case you have been out of the crypto news loop, some dude named Craig Wright is running around suing anyone who says he isn’t Satoshi Nakamoto (the anonymous creator of Bitcoin). I don’t really have an opinion on whether he is Satoshi Nakamoto or not because I don’t want to get sued, but it is incredibly silly.

It is silly because whomever Satoshi is doesn’t really have any effect on crypto at all.

The next silly item on my list starts sort of tragic.

Binance, the largest crypto exchange in the world was hacked.

They lost $40,000,000 USD worth of Bitcoin.

According to a few articles I read they either have insurance for hacks, or just have that much cash laying around to pay everyone back.

So it isn’t that big of a deal, except CZ (the CEO of Binance) mentioned they may attempt to roll back the Bitcoin blockchain.

Right after he said that, he then said they wouldn’t be attempting that.

The concept of trying to roll back the Bitcoin blockchain is silly.

Not even getting into the logistics of that, just imagine if all your normal day to day transactions were rolled back to last week. Your pay check, your beer purchases, etc.

Conclusion

The Terracoin Foundation is still waiting on the final lawyer letter, and hopefully Cryptopia gets their act together.

Some silliness went down in the crypto world.

Discoveries

Zero active discoveries! Get them in so the community can discuss!

Proposals

TRC Foundation Pay Proposal 2nd Year

Numbers!

One month ago, we were at 0.00000668 BTC (.0349 USD) and today we are at 0.0000502 BTC (.0309 USD).

A year ago, we were at 0.00001254 BTC (.1171 USD).

*With the state of Cryptopia our volume is low, so our rank doesn’t show correctly. Once a new primary exchange is decided upon, we will see a recovery of volume.

We are ranked 1309 on coinmarketcap with a market cap of $709,284 USD. Last week our rank was 1302 and our market cap was $671,982 USD.

Source: https://coinmarketcap.com/currencies/terracoin/#charts

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