There are a few more days on the calendar, but CryptoGamblingNews is wrapping up the year.
In this last edition of The Ledger edition for 2021, we bring you the latest developments from the week with the industry seemingly not slowing down and churning at full speed.
The week began with news that underground Bitcoin (BTC) mining is alive and well in China. While individuals who engage in such operations do so at great personal risk, they seem to be determined to continue to circumnavigate Beijing’s ban on crypto all the same.
South Park’s latest episode took aim at NFTs arguing that the blind faith we often end up putting in them is forcing us into bad decisions. Of course, South Park used harsher terms to drive the point home, but so far as NFTs go, investors are probably better off taking their time studying which digital goods are worth buying into.
Speaking of NFTs, the developers of video game S.T.A.L.K.E.R. decided to cancel their forays into digital tokens, sustaining heavy criticism from community members who saw the move as a money-grabbing fad rather than adding actual value to the gaming community. Adidas, though, was happy to continue consolidating its footprint in the NFT space all the same.
Meanwhile, Ubisoft took heavy criticism for its failed effort to market NFTs for the company’s Ghost Recon Breakpoint game. Only 15 NFTs have been sold since they launched in early December, putting the company’s entire strategy at risk. However, Ubisoft simply responded that NFTs would take time.
Of course, the week did not go without a few ominous predictions about the nature of BTC and what to make of the future. One academic stated that the currency’s days are numbered and the Reserve Bank of India is back harping on a crypto ban stance.
Heading into 2022, we are probably all wondering what to expect. Well, cryptocurrencies should become a little less volatile, which is always good news. However, FOMO-like tendencies may continue to drive crypto adoption.
Perhaps the most upsetting event this week was the fact that 0.01% of all BTC holders were found to control nearly one-third of the total supply, putting all claims that BTC is a more egalitarian system to serious questioning.