Qrafty heard almost 500k transactions pending, Coinbase holds 1 million BTC and a US senator bribed with gold bars

***Qrafty rolling out the red carpet*** Welcome, crypto curious! I am Qrafty - the crypto lovin’ honey badger 🦡 !

Welcome to Coinqraft – the daily crypto newsletter for busy but curious people who don’t have time for the crypto drama!🌟

🦡   Qrafty has fresh bits from the crypto jungle, so let’s dive in: 📰 🌟

1. One CBDC To Rule Them All

2. Almost 500 000 Transactions Pending

3. Coinbase Holds 1 million BTC

Bonus: US Senator bribed with gold bars

The Lord(s) of CBDCs

🌍 In a world woven with shadows and secrets, a tale unfolded, revealing the perilous path of the Central Bank Digital Currency. It was a story that dared to challenge the very essence of decentralization, a cornerstone of the digital currency revolution. 💰

📜 The narrative did not center on the United States, but rather on the Federal Reserve, a silent puppeteer pulling the strings of global control. Since the fateful days of the Bretton Woods pact in 1944, after the upheaval of World War II, the Federal Reserve emerged as the world's most formidable force of manipulation. 🕰️

💸 In those early days, the USD stood as a beacon of stability, pegged to the precious metal of gold. It was like liquid gold itself, effortlessly flowing in exchange for goods and services. Doubts could be quelled with a simple exchange of USD for tangible gold. 💰

🌪️ However, a seismic shift occurred in 1971, when Nixon chose to sever the bond between USD and gold. Why? Because someone realized that gold is more precious than paper, regardless of what’s written on it. 💡

🌎 Here we are now, when there isn’t a single country in the world with a currency backed by gold. 🌐

💡 At some point, a realization emerged: it’s really hard to make people do what you want by forcing them. Instead, you can create a specific scenario to elicit the response that you want from them. Problem ➡️ Reaction ➡️ Solution.

💍A Federal Reserve issued CBDC is like Sauron: one ring to rule them all.

They hold the power over the people and all the states and entities connected to them. So yeah, you might issue your own CBDC, but you’re going to use our digital infrastructure to run it. Get it?

💭 If you think that each country will independently print their own CBDC and decide for their financial future… you really must get past that mindset and see the world as it is: a never-ending war for power and control. There’s no such thing as one happy merry party where everyone is dancing to their own tune and doing their own thing. War is sometimes fought with weapons of mass destruction, but most of the time it’s fought with weapons of mass distraction, manipulation and deceit through mass media. 🎭

💵 Therefore, a digital USD should effectively be like the cash dollar is now, with its benefits of anonymity coupled with the power and speed of a cryptocurrency. Question is: how do you do that? 🤨💭

🙃 Qrafty hopes that today’s main story brought brave badgery value to you! Now it’s time for a break, you deserve a bit of fun! 😇 👇️

Almost 500,000 Pending Transactions

Qrafty invites you to imagine the Bitcoin blockchain as a bustling highway! Let’s call it the Blockchain Expressway, with virtual cars representing Bitcoin transactions 🚙.

Recently, chaos descended upon the Blockchain Expressway. The mempool, acting as the traffic control tower 🚦, signaled an epic traffic jam 🚧 with 470,000 transactions bumper to bumper 🚗🚕🚙!

That’s what Lightning Network is supposed to do, to ease up that congestion and free the mempool.

But this isn't Bitcoin's first traffic mess. In May 2023, it was like a parade of transactions, sending fees skyrocketing, even hitting a wild $29 🤑! Why? Because someone decided to toss BRC-20 meme coins onto the highway!

To understand this, picture the Bitcoin Mempool 📦 as a transaction parking lot 🅿️. Transactions waited patiently, with premium fees granting VIP access ✨, while others twiddled their thumbs, waiting for blocks to clear 🕒.

Think of it like a toll road with fast lanes 🚀, favored by miners who preferred high fees 💰. To speed things up, you had to dig deeper into your digital pockets in order to allow your transaction to pass through.

What is surprising in all this is that Bitcoin’s price remains rather stable and unaffected by this.

Ethereum’s upgrade might be postponed

Alright, let's break this down! If you’re not really familiar with it, imagine Ethereum like a big computer program where people do lots of things, like playing games 🎮 or buying and selling stuff 💰. They want to make this program even better, so they're planning a big upgrade called Dencun.

But here's the thing: the people in charge of making sure everything works smoothly are a bit worried 😟. They haven't tested Dencun on the real public networks yet, like trying out a new game before letting everyone play it 🎮. This testing is super important to make sure everything goes well.

There's a special meeting happening in November where they were hoping to say, "Hey, Dencun is ready to go!" But if they don't start testing by then, they might have to wait until next year 📅. That's because they want to be really sure everything works perfectly before letting everyone use it… or at least so they say.

Blockchain Fashion - Gucci Edition

Well, get ready to chuckle because Gucci, the fashion wizards, had big dreams for their new show. ✨ They even have a team called "Dream Big" dedicated to metaverse magic and Web3 wizardry.

But here's the twist! Mother Nature decided to rain on their outdoor parade, quite literally. ☔ So, what did Gucci do? They pulled a digital rabbit out of the hat 🐇🎩 and brought the outdoor show inside the metaverse! Yes, they're turning pixels into fashion statements. 👈️ That’s a sentence Qrafty never though he’d say.

Aaanyway… They called it "Gucci Ancora," which means "again" as in encore. Originally, they wanted to take over the streets of Milan, but the weather had other plans. 🌧️ So, they recreated the entire thing in the digital realm, and guess what? No need for umbrellas! 🌂

Now, you can stroll through Gucci's digital wonderland on platforms like Roblox, Zepeto, and QQ, all without getting a drop of rain on your fancy outfit. 🌞

In Roblox, they've transformed Gucci Town into Gucci Ancora, inspired by Milan's artsy Brera district. There's interactive art, challenges, surprises, and even some hidden game secrets. because who said fashion couldn't be an adventure? 🕵️‍♂️🎨

Hey hey 🙃 Qrafty hopes you are enjoying the experience here and would like to regularly get Qrafty’s letters!

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Tomorrow's like a software update - you hope it fixes bugs, but you never quite know what new glitches it'll introduce!

Qrafty’s thougt of the day

Other stories

Coinbase is a huge BTC and ETH holder!

Coinbase is in possession of 1 million BTC and 1.6 million ETH. They have contemplated the acquisition of FTX Europe as a strategic move to establish a presence in the European market for cryptocurrency derivatives.

US Senator was bribed in gold bars

US Government indicts Senator Bob Menendez for accepting bribes in cash & gold bars worth up to $400,000. The same guy, in 2022 said El Salvador adopting Bitcoin opens doors to money laundering and corruption. Thief yelling thief.

SBF ain’t getting out before trial

Even more, 7 of his expert witnesses aren’t allowed to testify since they were rejected by the judge. And he was also denied release before trial.

JPMorgan badmouths Ethereum

JPMorgan says Ethereum has been disappointing since its Shanghai upgrade. This means two things: either they’re interested in loading up on it before the ETF’s get approved or they’re making way for a new, more American than Chinese blockchain to replace it like… you know… Solana.

Market Whispers

Bitcoin already started the weekend, laying depressed on the couch, in a 275$ range.

Is BTC getting old or what? Really likes to not do a thing on weekends lately... What's more to say?! Qrafty's still young, he's going to party and get back to Bitcoin on Monday. See ya!

Qrafty ends channeling his inner trader.

Today is HOBBIT DAY!

That’s all from Qrafty 🦡 for today! Qrafty thanks you and wishes you to live each moment as if you are listening to the music you love most!

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