BITCOIN NFTs EXPLAINED! Cryptocurrency ETHEREUM Currency of Choice Crypto Update Bitcoin Ban?

BITCOIN NFTs EXPLAINED! Cryptocurrency ETHEREUM Currency of Choice Crypto Update Bitcoin Ban? With Litecoin, Bitcoin, Crypto News exploding now from NFT new Ethereum ERC 721 Coins.

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BITCOIN NFTs EXPLAINED! Cryptocurrency ETHEREUM Currency of Choice Crypto Update Bitcoin Ban?

The country of India is expected to ban cryptocurrencies and digital asset trading, which could impact millions of citizens and their finances.

According to an official who has direct knowledge of the plan, it: “would criminalize possession, issuance, mining, trading and transferring crypto-assets.”

Reuters explained: “If the ban becomes law, India would be the first major economy to make holding cryptocurrency illegal. Even China, which has banned mining and trading, does not penalize possession.”

Hopefully, this new legislation does not become law, as cryptocurrencies are the future of global money, and countries that ban these digital assets could disrupt the blockchain.

Meanwhile, a recent survey from Mizuho Securities shows just how popular bitcoin and other cryptocurrencies will be with the upcoming $1,400 stimulus checks.

According to the study: “10%, or nearly $40 billion of the $380 billion in direct stimulus checks, may be used to purchase bitcoin and stocks.”

The survey also found that: “Nearly 2-in-5 check recipients expect to use some portion of their checks to invest. And stimulus check recipients prefer bitcoin over stocks.”

Mizuho managing director Dan Dolev explained: "The survey predicts that bitcoin will account for 60% of total incremental investment spend. We calculate it could add as much as 2-3% to bitcoin's current $1.1 trillion market value."

This is incredible news for bitcoin and other popular cryptocurrencies, which should see even more action thanks to the most recent $1.9 trillion stimulus package, the American Rescue Plan.

Finally, you’ve probably seen them all over the place, but NFT’s, or non-fungible tokens, have exploded in both popularity and value, including 1 of a kind artwork by some of the leading musicians and artists on the planet.

According to Business Insider: “Purchasing an NFT typically means you have access to the same file anybody else can view or download, but you're also granted something like a digital deed of ownership to it.”

These digital collectibles range from artwork, like Beeple selling a piece of art for $69 million through Christie's, or even the very first Tweet on Twitter, which is going for $2.5 million.

With big name musicians like Grimes and Aphex Twin selling digital artwork through NFTs, it looks like more and more artists will be selling digital art on the blockchain for bitcoin or ethereum.

Are you looking to invest in NFTs? Let me know in the comments!

#bitcoin #crypto #ethereum

Source: https://www.reuters.com/article/uk-india-cryptocurrency-ban/india-to-propose-cryptocurrency-ban-penalising-miners-traders-source-idUSKBN2B60QP

https://finance.yahoo.com/news/nearly-10-of-the-380-billion-in-stimulus-checks-may-be-used-to-buy-bitcoin-and-stocks-survey-131009531.html

https://www.businessinsider.com/what-are-risks-of-investing-in-nft-2021-3






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