There is never a dull week in the cryptoverse and this week was no exception (except BTC price). Bitcoin miners now have to sweat more as mining difficulty reached a new all-time high, while Twitter had serious security issues that led to more than 13 BTC being stolen. Meanwhile, PayPal has been making “secretive crypto steps,” while Revolut opened its crypto trading service for US customers. Chainlink (LINK) has entered the top ten coins by market cap, while the crypto market sentiment improved significantly, whereas Grayscale reported that its buying more BTC than miners currently generate.
DeFi space had another interesting week as well, as DeFi ‘Incident’ on Uniswap brought a lucky trader massive profit in minutes. Vitalik Buterin said that DeFi-powered yield farming is unsustainable, while the “yield farming frenzy” did not boost the DeFi user numbers. However, the frenzy might to continue, as a recent DeFi initial exchange offering (IEO) on Gate.io got oversubscribed a whopping 45 times.
It wasn’t all quiet on the stablecoin front, too. Regulators are increasing regulatory scrutiny on Tether (USDT), thus paving the way for central bank digital currencies (CBDC). Japan became another country to consider issuing its own CBDC, while the “central bank of central banks,” The Bank of International Settlements is still not sure whether stablecoins can help cross-border payments at all.
And now, we’d like you to meet 20 crypto jokes of the past week.
Just another day at the office.
I made a cryptocurrency news tracker pic.twitter.com/JjR58sCQBA
— Neeraj K. Agrawal (@NeerajKA) August 2, 2017
By the way, someone got a video and pictures of the Twitter hack.
Twitter security be like #hacked pic.twitter.com/FxW6xbHdcv
— CryptoChimp (@Cryptanzee) July 15, 2020
Twitter Security Team from r/CryptoCurrency
You probably missed this, but…
Damn they got Trump. pic.twitter.com/IitXwmYw9z
— code e (@ihatecodee) July 15, 2020
And Peter Schiff, too!
The hackers got Peter. (Someone with a bluecheck mark asked me to post 😉 pic.twitter.com/r1IdAH4aNU
— Adam Back (@adam3us) July 15, 2020
Me: Mom, let’s buy bitcoin!
Mom: We have bitcoin at home.
Bitcoin at home:
So my mom brought it from local shop from r/Bitcoin
I am never going to financially recover from this.
Breaking: after Twitter hack, bitcoin volatility skyrockets as price crashes in freefall from $9,225 to $9,220.
— Jake Chervinsky (@jchervinsky) July 15, 2020
An honest fundraiser.
I have decided to give no Bitcoin back to my community.
All Bitcoin sent to my address below will be spent whoring around.
— Alex Krüger (@krugermacro) July 15, 2020
Education is key.
Crazy video of a bitcoin being made if you ever wonder why it’s so expensive pic.twitter.com/6INVqT1FLN
— Swift⬡nSecurity (@SwiftOnSecurity) July 15, 2020
This has been the most exciting week in crypto this summer.
In the lights of today's events, I decided to give a free technical analysis for all$BTC pic.twitter.com/NnBShDwxtW
— ₿itBit (@BitBitCrypto) July 16, 2020
Error 404 – Bitcoin not found.
we still have no Bitcoin to give you
— Businessweek (@BW) July 16, 2020
When someone IRL finds out about my cryptotwitter page pic.twitter.com/PQgGz6dmx9
— Bitcoin Bella (@bitcoinbella_) July 13, 2020
Just wait for it…
Waiting for BTC to move like pic.twitter.com/Cz4xMxwNhM
— Ambroid (@anambroid) July 14, 2020
This is our new normal.
at this point, a vaccine might come first before bitcoin breaks out of this range
— Joseph Young (@iamjosephyoung) July 14, 2020
— Crypto₿ull (@CryptoBull) July 14, 2020
Satoshi would be proud.
it really be like that from r/Bitcoin
Son, I am disappoint.
Governments when you buy bitcoin from r/Bitcoin
When you ask for an uncorrelated asset.
S&P goes down, Bitcoin goes down.
S&P is stable, Bitcoin goes down.
S&P goes up, Bitcoin goes down. 🤔🙃
— WhalePanda (@WhalePanda) July 15, 2020
Bears getting ready for tomorrow pic.twitter.com/Ur0z5L8Art
— Hipster (@Hipster_Trader) July 14, 2020
me explaining you can buy a fraction of a bitcoin from r/Bitcoin