Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: Craig Wright is not Satoshi (officially)

• 🔎 This seems important: Crypto is up $1T since January

• 🤝 Partner: The easiest way to convert cash into crypto​

• 🔪 Let's dissect this: ETH Layer 2 fees drop from $0.31 to $0.0005

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Wallets, Web3, Layer 2’s, Blockchains.

💅 This is cool:

Craig “I am Satoshi Nakamoto” Wright — officially (and legally) found to NOT be Satoshi

In one sentence: A court of law officially ruled that Craig Wright is not Satoshi Nakamoto and did not author the Bitcoin white paper.

Remember that kid from school that would always talk a big game?

At our primary school — it was Jarred.

One time in the 5th grade, Jarred had a moment of honest vulnerability and admitted to our group of friends:

“Guys, I gotta come clean…I didn’t win gold at the 1996 olympics — hell, I’ve never even been to Atlanta.”

To which we all responded “Yeah dude, no sh*t. We all did the math the moment you said it — you would’ve been 6 years old at the time.”

‘The Jarred’ of the Bitcoin world is a dude known as Craig Wright, who has long claimed to be the pseudonymous creator of BTC, Satoshi Nakamoto.

The moment the words left his mouth, the entire Bitcoin community collectively cried ‘buuuuull sh*****t!’

…but Craig stuck to his claim.

Now, there’s one thing Craig could do to prove himself right (accidental pun, leaving it in), and that would be to sign or send a transaction from one of Satoshi’s known Bitcoin wallets.

(But waddya know — Craig claims he lost the password).

Now — what’s the next best thing other than the real Satoshi revealing themselves, just to put Craig in his place?

A court of law officially ruling that Craig Wright is not Satoshi Nakamoto and did not author the Bitcoin whitepaper.

And that’s exactly what just happened in the UK!

What a great way to start the weekend :)

🥇 Want the news before anyone else?

🔎 This seems important:

Crypto Is up $1T Since January (Yet Investors Still Haven’t Recouped Their 2022 Losses)

In one sentence: In ‘23, crypto investors realized $38B in profits…which wouldn’t have recouped the $127B lost in ‘22…but this should balance out now the market is up $1T in ‘24.

Chainalysis just released some new data that sent us on a rollercoaster of emotional sentiment shifts.

And it went something like this…

Glass half full:

In 2023, crypto investors realized $38B worth of profits (nice!).

Glass half empty:

This wouldn’t have done too much to help the $127B worth of recorded losses in 2022 (oooft!).

Glass half full:

There’s a good chance people could have taken more profits in 2023 (and made back their 2022 losses), but were patiently holding out for the expected 2024/2025 bull run.

Glass full to the brim and spilling over:

The crypto market has grown by 1 TRILLION dollars in 2024, and we’re not even half way through March just yet.

So when those profits are realized (aka those cryptocurrencies are converted into stablecoins), investors should be flush again.

We — and this cannot be stressed enough — love to see it.

🤝 Partner:

The Easiest Way to Convert Cash Into Crypto

We can count on one hand the amount of times we’ve converted fiat cash into crypto and thought:

“Hmmm…that was easy!”

1. The time we bought ETH via MoonPay from within our wallet.

That’s it. That’s all the times.

MoonPay offers a fast and simple way to buy and sell cryptocurrencies, allowing you to buy crypto with your credit card, bank transfer or even Apple Pay!

(They’re basically the Visa/Mastercard of crypto).

If you want a seamless, hands off fiat to crypto conversion & payment experience:

Click this link to buy crypto right away; or look for the MoonPay logo within your chosen crypto app!

🔪 Let's dissect this:

Ethereum Layer 2 Fees Drop From $0.31 to $0.0005 (Here’s What That Means for Web3)

In one sentence: Fees just dropped to below a penny on Ethereum L2’s, which will (hopefully) inspire more people to adopt and innovate upon the Ethereum blockchain.

On Wednesday, the Ethereum mainnet was upgraded — and so far, it's looking like it was a mighty success!

Which makes us think this upgrade could be a huge catalyst for Web3 mass adoption.

Hear us out:

The Dencun upgrade allowed for Layer 2’s (aka L2’s, aka faster n’ cheaper blockchains built on top of the Ethereum network) to move data more efficiently, and in turn lower their costs/increase their speed even more.

Now — not all L2’s had the tech to take advantage of this upgrade yet, but those that did have already been fist bumping about their successes. 

For example:

Fees on the ‘Base’ L2 dropped from $0.31 to $0.0005, after the upgrade.

And lower prices open the flood gate for innovation.

Think of it like this: If the Ethereum mainnet is an iPhone, the layer 2’s are the apps you download. 

When it became easy/cheap to create, upload and install apps — two things happened: 

1. More people started making apps and sharing their ideas. 

2. More people purchased iPhones to use said apps (onboarding them into the Apple ecosystem in the process).

So with fees dropping to below the cost of a penny, more people will opt to test and innovate on Ethereum.

And as the tech becomes more streamlined, more people can come to play. 

Very cool!

Ethereum, Explained.