Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Dutch Bitcoin family reveals how they safeguard a fortune in crypto

Hardware wallets and a range of secure, but unusual locations, is the storage method of choice for this crypto family.

A family that went all-in on Bitcoin back in 2017 has revealed their secrets to safeguarding the asset now that it has increased in price by around 5,000%.

The Dutch family of five’s storage plan includes a series of secret locations spread across four different continents.

In 2017 the ‘Bitcoin family’ liquidated all of their assets and went all-in on BTC when it traded around $900. With BTC trading over $45,000 today, their undisclosed fortune is substantially larger.

Patriarch of the family, Didi Taihutt, explained that he has hidden the hardware wallets across several countries so that he never has to fly very far if access to a cold wallet is needed.

Speaking to CNBC, he revealed that there were two hiding spots in Europe, another two in Asia, one in South America, and a sixth in Australia.

There were no secret underground bunkers, he added, and the physical locations ranged from rental apartments and friends’ homes an self-storage sites. “I prefer to live in a decentralized world where I have the responsibility to protect my capital,” he explained.

Hardware or cold wallets are a popular way to store crypto assets “offline” however, the owner is fully responsible for the private keys and there's no one to turn to in the event of theft or loss. Castle Island Ventures general partner and Coin Metrics co-founder Nic Carter explained:

“If you want to store your coins truly outside of the reach of the state, you can just hold those private keys directly. That’s the equivalent of burying a bar of gold in your backyard,”

An alternative is to use custody services which a number of large exchanges such as Coinbase and now PayPal will provide.

For a combination of the two methods, Jack Dorsey’s Square is building an assisted hardware wallet and custody service “to make Bitcoin custody more mainstream,” as reported by Cointelegraph on July 9.

According to CNBC, 74% of Taihuttu’s total crypto portfolio is in cold storage with the remainder in hot wallets for quick access and trading. He doesn’t use banks or post offices as he finds them too risky, fearing loss of assets should bankruptcy occur.

Related: What happens to your Bitcoin when you die?

Taihuttu did admit that some centralized cold storage companies offer a major perk in the event of the death of the holder:

“They have beautiful setups for inheritance. When you die, these companies handle that, as well, and I really believe they are doing a great job.”

The family’s crypto fortune includes Bitcoin, Ethereum, and some Litecoin.

https://ift.tt/3lWsJr2
Labels:

Comments

Post a Comment

Popular posts from this blog

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment
Read more

Year of sponsorships: Celebrities who embraced crypto in 2021

From Matt Damon appearing in a TV spot for Crypto.com to Kim Kardashian shilling EthereumMax, 2021 saw celebrities with higher profiles getting into crypto. Though the crypto space has seemingly moved beyond the endorsements many minor celebrities bestowed on token projects during the 2018 initial coin offering boom, its growing popularity and acceptance now has professional sports players, Hollywood elites and politicians backing major companies dealing with digital assets. In June 2021, Kim Kardashian promoted EthereumMax (EMAX) via an Instagram story shared with  her more than 200 million followers . The token, which was used as payment for online ticket purchases for some pay-per-view events, gained 116,000% in just one week following the celebrity’s activity before falling more than 99% and leaving many investors in the red. Kim Kardashian promoting EthereumMax on Instagram Stories, June 2021. Source: Instagram Though EthereumMax is somewhat of a cautionary tale for cry...
Post a Comment
Read more

Top 3 Rebase Token Markets Shudder — Stats Show TIME, OHM, BTRFLY Lost Billions Since All-Time Highs

While the crypto economy has shed more than 3% in fiat value during the last 24 hours dropping to $2.09 trillion, the top rebase tokens by market capitalization have seen significant losses this week. At the time of writing, the rebase token economy is valued at over $3.2 billion but has lost more than 10% in value during the last 24 hours. The largest rebase token economies such as Wonderland, Olympus, and Redacted Cartel have shed between 36% to 55% over the last week. Top 3 Rebase Token Protocols Shed Billions in Value Over the Last Week, Wonderland Down 87% Since High On the first day of November 2021, Bitcoin.com News took a deep dive into the Olympus DAO and the reserve-backed asset called OHM . Olympus is a decentralized finance (defi) project that is described as a rebase token and since Olympus started, a myriad of Olympus forks have been born. Essentially, rebase token protocols adjust the token supply in a periodic fashion or when the price fluctuates. Olympus was once ...
Post a Comment
Read more