Meet Lily The 3-Year-Old Girl Who Explains How Bitcoin Works With Sweets

Meet Lily, the 3-Year-Old Girl Who Explains How Bitcoin Works With Sweets

Lily, just 3 years old, has her own program in which she explains simple things to her followers on Facebook and Twitter (for now). In her fifth chapter, she explains how Bitcoin works with the help of sweet Skittles , her stuffed animals and of course, her parents.

She started Lily’s Show in August 2020, but on February 2 she posted a video of just over two minutes explaining the basics of Bitcoin , something that many adults still have doubts about.

The information is based on Michael Caras’ children’s book, ” Bitcoin Money: A Tale of Bitville Discovering Good Money.”

The little girl begins by saying that Bitcoin is “decentralized digital money!” In other words, it does not need a bank to exist, in addition to the fact that there are only 21 million of them in the world and it was created by Satoshi Nakamoto, whom he identifies as “a mystery”.

To explain how a transaction works, he uses wallets with sweets and pieces of wood, which represent bitcoin wallets and the blockchain . The various purses belong to her, her Teddy bear, a unicorn and Dolly, her stuffed animals.

In this way, each that a sweet ( Skittles ) passes from one bag to another, it represents a transaction that generates a piece of wood and when several of them are stacked it symbolizes the blockchain , which no one can see because it is anonymous.

Lily wonders “why is it so expensive?” . So he explains that it is because of the security he has; Money cannot be stolen, bank accounts cannot be hacked, only you have access with a 12-digit code, but if you lose it you are in “trouble” and you can lose all your money .

To finish little Lily takes off her glasses and tells her mother that she doesn’t need them to look smart, “silly mommy .” Besides mentioning that he loves bitcoins… and skittles .

Source: Meet Lily, the 3-Year-Old Girl Who Explains How Bitcoin Works With Sweets

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Rock Bottom Interest Rates Are Driving A Boom In Cryptocurrencies


After a period of time where it seemed like cryptocurrencies and all financial products with a bit of risk were being shelved in favor of low-risk products such as holding cash or government bonds (specifically the US dollar and Treasuries), the actions of the Federal Reserve and other central banks have caused a roarback in equity markets — and a corresponding increase in cryptocurrency values.

Since March, 15th, 2020, when the Federal Reserve cuts rates to zero in an unscheduled rate cut, the S&P 500 had its best quarter since 1998 and bitcoin’s price, about to touch $5,000 USD around that time period, is now roaring back above the $10,000 USD mark.

Understanding the relationship between monetary policy and cryptocurrencies can be a bit tricky, but it’s a worthy exercise. As cryptocurrencies start taking on institutional speculation, their short-term price movements gyrate with the markets. Some of this has been plainly stated before and often observed: some institutional investors think of bitcoin as digital gold.

They’ll use bitcoin as a hedge against the inflation they think will result from excessive unconventional monetary policy. This was the explicit view of Paul Tudor Jones, the billionaire investor loading up on bitcoin.

In this reading, the actions of central banks help create demand for cryptocurrencies by creating the conditions (excessive money supply) wherein a certain class of institutional investors feels the need to hedge their wealth.

But structural changes in monetary policy implementation also auger surprising new developments and support for new cryptocurrencies in ways that go beyond the “cryptocurrency as hedge” narrative.

Witness the new trend of DeFi, decentralized finance companies that are largely behind the growth in ethereum demand as ethereum gets locked into new financial products. DeFi represents alternative financial solutions built on ethereum that are looking to augment or replace traditional loans.

Typically, there’s a “search for yield” that happens when there are very few options to yield money in deposits or low-risk products. DeFi, with interest rates that range as high as 100% annualized on stablecoins looks like a more attractive option than fiat banks that can offer flat ~1% at best.

Within that structure, it’s clear that there are nuances, and perhaps warnings — products that yield that high likely are pure arbitrage situations that might fade away at any time and they carry with them risks (such as exploits) that might be underaccounted for. Yet, even if there are a lot of question marks — there’s no doubt that coordinated monetary policy around the world is driving people to look for new companies and technologies such as DeFi — an important secondary consequence.

The amount of unprecedented monetary support has also created a short-term window for institutional investors to be able to enter cryptocurrencies. Grayscale Investments LLC attracted more than $900 million in the second quarter, which was double any amount it had ever raised before. Most of that interest was spurred by institutional investors, who were supported by monetary policy, and placed in a “search for yield” and hedge-seeking situation.

Some of that was due to arbitrage, but there’s no doubt that institutional investors that were battening down the hatches when COVID-19 lockdowns were happening are back as a force across a variety of economic investments — including cryptocurrencies.

Some of this institutional investment comes on the heels of leading figures in the industry looking for shelter during the largest monetary expansion in history. This helps accentuate this short-term trend, with institutional investors suddenly finding the context, the need and the support to start pouring into investment in cryptocurrencies.

Beyond these factors however, is the potential pending development of a digital dollar. This is not being pushed by monetary authorities, but rather heard in the fiscal halls of power in Congress. Yet, research in this area will spur interest in cryptocurrencies by confirming the digital ascendency of finance into retail cash — and creating a contrast and another item that might highlight cryptocurrency’s usefulness as a hedge.

It is, however, the greater retail adoption of bitcoin and cryptocurrencies that is more interesting than the short-term movements associated with institutional investors pushed by monetary policy in one way or another towards cryptocurrencies.

A new study from Cornerstone Advisors says that 15% of Americans now own some cryptocurrency, with about half of those having invested in the first six months of 2020, among unprecedented monetary policy changes and COVID-19. High income, millennials and Gen Xers were some of the groups spurring this growth. Americans who don’t hold cryptocurrencies and had no plans to do so thought their financial health stayed the same (55%) mostly while a plurality of those that currently hold cryptocurrencies thought that their financial health was much better (44%).

Cryptocurrencies are getting short-term boosts in pricing from a wave of institutional and retail investors with a variety of incentives, many of them brought on by the largest monetary expansion of our age. Some of those incentives are here for the long haul, as monetary authorities struggle with the short-term effects of the COVID-19 pandemic and the longer-haul efforts to fully recover economically. Monetary policy during COVID-19 is acting as a bridge to cryptocurrencies for many new institutional and retail investors skeptical of its effects — and perhaps an enduring reason to stay in the cryptocurrency ecosystem.

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I was one of the first writers in 2014 to write about the intersection of blockchain in remittance payments and drug policy with VentureBeat and TechCrunch. Since then, I’ve been an early long-term HODLer of Ethereum, and I’ve built several mini-projects with blockchain for fun. I’d like to learn as much as possible about our decentralized future while sharing that knowledge with you




Bitcoin Drops Below $9,000 Due to Concern Over Surge in COVID-19 Cases


Around 19:45 UTC on Saturday (June 27), the price of Bitcoin dropped below the $9,000 level for the first time since May 27 due to growing concerns over the surge in the number of COVID-19 cases in the U.S. and some other parts of the world.

Data from Johns Hopkins University’s Coronavirus Resource Center tells us that the first case of COVID-19 in the U.S. was reported 155 days ago, and that since then, 2,467,554 COVID-19 cases and 125,039 deaths have been reported there.

On Friday (June 27), the number of daily confirmed new cases (5-day moving average) reached 40,021 in the U.S., and as you can see in the chart below, the daily number of new cases is going up not just in the U.S., but Russia, India, Mexico, and some other parts of the world:

COVID-19 confirmed new cases - 27 June 2020.png

Regardless of whether the U.S. is still going through the first wave of COVID-19 or it has started experiencing the second wave, there is no denying that what is happening now could severely impact the re-opening of businesses across the country, especially in those states that have recently been badly hit, such as Arizona, Florida, and Texas.

Renewed concerns over the impact of COVID-19 on the U.S. economy resulted in big losses on Friday in the U.S. stock market, with the Dow, the S&P 500, and the Nasdaq finishing the day down 2.84%, 2.42%, and 2.59% respectively.

As we have seen since the start of the COVID-19 pandemic, Bitcoin has shown on several occasions a moderately high positive correlation to the S&P 500, and this week it has been been no different.

According to data from CryptoCompare, Bitcoin is currently (as of 22:57 UTC on June 27) trading at $8,981, down 2.11% in the past 24-hour period:

24 Hour CC Chart for BTC-USD on 27 June 2020.png

Since Wednesday (June 24), Bitcoin has dropped from $9,655 to $8,981, i.e. a loss of almost 7% in just three days. Bitcoin’s drop below the $9,000 level occured at around 19:45 UTC on June 27.

Just a few hours earlier, prominent crypto analyst Alex Krüger noted the return of Bitcoin’s positive correlation with U.S. stocks, and said that his technical analysis of large cap U.S. stocks sugegsts that the next few days would be difficult for both stocks and Bitcoin, and predicted Bitcoin’s fall below the $9K level.

Around the same time that Krüger was giving his short term price prediction for Bitcoin, Joseph Todaro, Managing Partner at crypto-focused investment firm Blocktown Capital, sent out a tweet that showed that he is another one of those people in the crypto community who believes that there is currently a high degree of positive correlation between Bitcoin and the S&P 500.

By: Siamak Masnavi



Bitcoin dropped again, why? Big money players buy 20,000 more BTC, wirecard drama explained, and BTC on Ethereum growing fast.

Bitcoin Just Painted a ‘Golden Cross’ But Is $10,500 Now Achievable?


Bitcoin (BTC) price remains in a somewhat neutral zone, caught between two highly consequential paths. For the past week, the top-ranked digital asset on CoinMarketCap has struggled to push above $9,900 in order to attack the $10K mark.

On Tuesday morning Bitcoin made another attempt at $10,000 when the price quickly rallied to $9,900 as some sort of hiccup in the BitMEX trading engine caused the exchange to cut out for nearly an hour. The move didn’t last long and for the remainder of the day, the price remained pinned below $9,800.

Yesterday the mining difficulty rate dropped by 6%, meaning some miners who shut down their operations due to the block reward reduction and current Bitcoin price may also find it easier to mine Bitcoin after the difficulty adjustment.

As mentioned earlier, Bitcoin is currently at a ‘crossing the Rubicon’ moment. Some traders believe that if the asset can rally to $10,200 and close above this level the path forward is bullish, especially if Bitcoin can push through $10,500. Others believe that a drop below the $8,900-$8,550 support zone means prolonged sideways price action is to be expected for the remainder of 2020.

Looking at the daily chart, we can see that Bitcoin continues to make higher lows and remains above the multi-week ascending trendline. Currently, the price continues to tighten in a pennant seen on the 4-hour and 1-hour timeframe.

A strong volume breakout from this pennant should propel the price to $10,200, a point which is also aligned with the top arm of the Bollinger Band indicator.

Does a golden cross mean a bull run is coming?

This week crypto media has given much attention to the impending golden cross between the 50-day and 100-day moving average which is expected to occur within the next few days. Data from Cointelegraph Markets shows this would be the seventh time the moving averages have converged in Bitcoin’s history.

Typically, traders interpret the cross between the moving averages as a bullish signal so as the maneuver comes closer to completion Bitcoin price could see an increase in buying pressure. This is possible more reason to expect the digital asset to break above $10K and test the $10,200 level in the short term.

It should be noted that a golden cross is not always followed by a strong rally. Take the most recent example of the February 19 golden cross which was followed by the catastrophic drop to $3,750 less than a month later on March 13.

BTC USDT 4-hour chart. Source: TradingView

For the short term, traders are watching to see if Bitcoin can breakout from the pennant and overtake the $9,900-$10,000 resistance zone. Volume permitting, a move above $10,071 clears a path for the digital asset to rally to $10,200.

Knocking out the 2020 high at $10,500 would place the price above the long term descending trendline from the $19,800 all-time high, a feat which many traders say would be confirmation of a new bullish cycle starting.

From a bearish point of view, repeated rejection at $9,900 and $10,000 increase the chance that the price will drop to major support levels. A drop below $9,600 could see the price drop to support at $8,900-$8,550 and below this $7,438-7,200.




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