Ethereum can flip Bitcoin😱

Plus funniest memes on the planet

Hola folks. You are reading Owlsome, a newsletter that will make you feel like you're getting a Nuru massage from Kylie Jenner herself.

Here are today’s spiciest headlines

• Chainlink rallies hardest since May 2021 after CCIP release

• SBF's brother planned to buy an island nation with FTX funds to build an apocalypse bunker (true mfer)

• Tesla removes Bitcoin but keeps Dogecoin as a payment option

• The UK Government has stated that it will not treat crypto trading as a form of gambling.

Well, that’s it.

Now drop all the negative thoughts and get straight inside the Owlsome party down below.

Note: The content down below can be funnier than Elon Musk throwing painful insults at Mark Zuckerberg.🤣

Here are the top stories my Owl unearthed for ya today.

• Another Presidential candidate showers love for Bitcoin

• 29% of the Bitcoin supply can be lost forever

• 47% of Investors think Eth will surpass BTC

• Fun Friday Fact by my Owl

Another Presidential candidate turns out a Bitcoin Maxi😱

Love for Bitcoin among US presidential candidates has reached an all-time high.

Earlier Ron DeSantis showed his support, and now Robert Kennedy Jr has come up with an ambition of making the U.S. the hub of crypto, particularly Bitcoin.

Robert Kennedy apparently has bigger plans for Bitcoin than Satoshi himself.

He has proposed two reforms for Bitcoin if he gets to shit sit on the president’s chair.

1️⃣ The first reform is to back the U.S. dollar with Bitcoin, and other finite assets like Gold, silver, and platinum.

2️⃣The second involves eliminating capital gains taxes on converting Bitcoin to U.S. dollars.

Yes, that’s exactly the two reforms he said he’s administration would implement. Feels like Micheal Saylor bribed him.

But who knows, after all, Bitcoin is just so sexy.

Well, Robert further said,

Backing US dollars with assets like Bitcoin will strengthen it, and help maintain its position as the world’s reserve currency.

And tax exemption on Bitcoin, would propel innovation, protect citizens’ privacy, and incentivize businesses to create more jobs. (Such a good thinker)

Additionally, he stated, that he’d also set Biden Administration’s operation Chokepoint 2.0 on fire, which is employed to punish banks for dealing in Bitcoin.

Plus he’d also make substantial barriers against the issuance of CDBCs.

Isn’t he a Bitcoin Maxi at heart?

Reply your thoughts about him to this email, the funniest reply will get featured in next week’s issue.

29% of the Bitcoin supply has Gone

IntoTheBlock, a Blockchain analytics company got a crazy stat.

The company presumes that 29% of Bitcoin’s circulating supply might be lost forever, as it remained untouched for over 5 years.

That is $169B worth of Bitcoin at the current price. Holy shit!

There can be two possible scenarios here

Either these holders promised their mamas, they won’t check on Bitcoin until it touches 1 million per coin

or…they are “Oops, where did I put those private keys again? 🤔” kinda people.

Here’s why investors think Eth will beat BTC.

So, I stumbled upon this super intriguing survey from CryptoVantage, and boy, did it turn some heads!

According to the survey, 46% of investors believe ETH will flip Bitcoin and claim the top spot in the crypto kingdom! 😮

Now, at first, I was like, "Stop kidding! Bitcoin is the real Daddy!" But then, sadly I found some stats that support the idea of Eth taking over BTC.

Let me break it down for ya.

• Burn vs coin issuance rate: Since the epic Merge in September 2022, Ethereum's been on a burning spree, reducing its net supply by more than 700k! 🔥

• New addresses: New Eth addresses that are transacting ETH for the first time are popping up like frogs in the rainy season. Plus there’s a 15% rise in ETH’s validators in the last quarter.

• Eip-1153: And there’s more. The upcoming ETH upgrade is like a secret weapon in Eth’s arsenal. It's expected to boost smart-contract efficiency, reduce costs, and improve the EVM design. Who doesn't love an upgrade that makes things smoother, right? 😎

• Dencun Upgrade: Another promising upgrade and EIP-1153 included in it, could help Ethereum take back its lost market share due to high gas fees.

While the above points might make Eth positioned to take Bitcoin’s place…

Believe me, Bitcoin ain't giving up that crown! 👑 It's been through the data wars before, and it's still the King!

Even the big shots like Michael Saylor are head over heels for it, and guess what? The BlackRock CEO is about to join the party!

So, let's sit back and enjoy the show! 🍿🎉

Awesome fact by my OWL.

My owl flew far and wide and came across an ugly fact. 85% do not know that Ethereum has no fixed supply. So sad.

You heard it right. Unlike Bitcoin, whose supply is capped at 21m, the issuance of ETH has no fixed limit.

But to compensate for the new supply, and fight inflation in ETH, the protocol takes a few measures to make Eth deflationary and a better store of value.

• EIP-1559: Under this upgrade a portion of transaction fees paid on the Ethereum network is permanently removed from circulation, bye, bye poof!

• Burns: The protocol also takes the initiative to burn its supply upon reaching a certain threshold limit.

• Validator rewards: Ever since Ethereum’s PoS transition no new Eth is minted to reward the validators unlike during the PoW era, and the rewards paid to validators come from the fees generated on the Ethereum network.

Funniest meme on the planet