We think this is a good moment to outline where web3 is right now.
In the middle of 2022, we are in a really interesting place. The Bear Market is always a little surprise.
Everyone knows that it will come, but no one knows when.
Crypto had only a few bear markets, since the beginning. This is the 4th time. The first overlapping with the traditional stock market drop.
We do not know where it will go. We do not know if there will be more pandemics
or wars in the nearest future.
People are extremely fearful.
Inflation grows, not only in US but also in Europe and in the majority of countries in the world.
Last year showed us, that we could be closed in our homes. This year we saw, that a war can start in Europe . All of us were shocked, but it is what it is.
This is a time of big fear and tough time, but it is also a time of new possibilities.
In
web3 there is one more bear market. Rumour has it, that Bitcoin is dead.
Web3 startups are growing, but slower. We had a few spectacular bankruptcies.
All of that is an effect of the bull market. There were thoughts, that you cannot lose on crypto or NFT.
ETH MERGE ANNOUNCES
There is a new target date announced:
week of August 11th - Goerli Test Merge
week of September 19th - The Merge
If tests on final testnet will go well, then we could expect the merge in September.
Timeline for a merge is not official, yet. ETH is up, after this announcement.
Why this is so important to Ethereum?
After this upgrade, Ethereum blockchain will change the algorithm of consensus from proof of work to proof of stake.
For a normal user, it will be cheaper and faster. It will consume less energy and will be no more non-ecological.
Even stock reacted on this info. ETH is now more than
26% up from $1202 on the Friday 15th to $1515 .
FUN FACT
BFC Discord server is open since last week. There are a lot of newcomers. There is a lot of channels. One of them is called gm. Strange name..
If you are new to Web3, probably you donโt understand why degens are typing GMs to others every day. Here in BFC, you will never be left without help ;)
GM, gm, or even GM! is a simple Good
Morning.
We could finish here - but there is something more behind these letters:
there is a lot of support, for a project and all web3 causes and ideas in these two letters,
there is a symbol of a culture of helping others
in web3 communities,
some people say, that this is a new version of web 2.0 - Hello World!
All of that is true. Behind this GM is also WAGMI - Weโre all going to make it.
One more question.
At which hour you should use gm? Whenever you want.
This is
not financial advice. This newsletter is strictly educational and is not investment advice to buy or sell any assets or to make any financial decisions. Do your own research.
