Today's Top Crypto Headlines:

Altcoin Seasons ‘Will Be Weaker’ | Eliminating Federal Income Tax | Disappearing Satoshi Statue and more...

Author

King Fatrick Gil Añasco
October 28, 2024

Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

  1. Altcoin Seasons ‘Will Be Weaker’: Analyst Willy Woo predicts that while altcoin seasons will continue, they will yield smaller returns over time as the crypto market matures.

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  3. Eliminating Federal Income Tax: Former President Donald Trump proposed replacing the U.S. federal income tax with tariffs on imports during a Joe Rogan interview, arguing it could generate sufficient revenue, as seen under President McKinley in the 1890s.

  4. 💡Feature of the Day - Disappearing Satoshi Statue: Italian artist Valentina Picozzi unveiled a unique “disappearing” statue of Bitcoin’s founder Satoshi Nakamoto in Lugano, Switzerland.


    All this and more in today’s headlines!

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📰 News Highlights:

Altcoin Seasons ‘Will Be Weaker’ [Source][Source][Source][Source]

Crypto analyst Willy Woo predicts that while altcoin seasons will continue, they will likely yield smaller returns over time as the crypto market matures.

Woo’s analysis, shared on X on Oct. 26, highlights how the explosive altcoin rallies that dominated 2017 may not repeat with the same intensity.

However, he clarifies that altcoin “pumps” are still possible, especially for mid-cap and low-cap cryptocurrencies following Bitcoin price surges, as investors seek higher-risk opportunities.

While Woo notes that this cycle seems to focus on memecoins, he cautions his followers to avoid holding altcoins long-term unless they have insider knowledge.

According to Woo, the overall altcoin market cap is misleading because it only reflects the successful tokens, excluding the many that fail.

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Eliminating Federal Income Tax [Source][Source][Source]

Former U.S. President Donald Trump suggested replacing the federal income tax with tariffs on imports during a recent interview on the Joe Rogan Experience.

Drawing on policies from the 1890s, Trump argued that tariffs could generate enough revenue for the U.S. government, as he believes they did under former President William McKinley.

Critics caution that such a move could lead to higher prices on goods, effectively creating a hidden tax for consumers.

Trump has also proposed leveraging Bitcoin to address the national debt, suggesting that creditors could be partially paid with Bitcoin reserves.

💡 Feature of the Day: 

Disappearing Satoshi Statue [Source][Source][Source][Source]

Italian artist and Bitcoin activist Valentina Picozzi unveiled a unique “disappearing” statue of Bitcoin’s mysterious founder Satoshi Nakamoto in Lugano, Switzerland.

Plan ₿ Initiative Unveils Satoshi Nakamoto Statue at 3rd Annual Plan ₿ Forum in Lugano - Tether.io

October 25, 2024 – Plan ₿, an initiative founded in collaboration with Tether and the City of Lugano to promote the use of Bitcoin and blockchain technology, today hosted blockchain industry leaders, government officials, and Bitcoin enthusiasts to unveil a life-sized statue of Satoshi Nakamoto at the 3rd Annual Plan ₿ Forum in Lugano. In […]

tether.io/news/plan-b-initiative-unveils-satoshi-nakamoto-statue-at-3rd-annual-plan-forum-in-lugano

The statue, which took 21 months to complete, uses a slit design that creates a see-through effect from certain angles, symbolizing the elusive and decentralized nature of Nakamoto.

Displayed in front of Lugano’s Villa Ciani, the statue appears fully only when viewed from the side.

Picozzi’s statue was introduced during Plan B’s annual forum, an event aimed at promoting blockchain in Lugano.

Lugano’s Mayor Michele Foletti praised the artwork, framing it as a testament to the city’s commitment to digital innovation.

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See you all tomorrow’s edition!


Jonathan Gibson
UseTheBitcoin.com