BitDigest May 19 · Issue #905

• Bitcoin falls below $40,000 and ether break $2,900 on anti-crypto statements across the globe
• A joint statement was filed by three leading Chinese financial industry associations saying banks should not be offering crypto services
• India discussing crypto regulations instead of initially reported ban

Pennies in your couch

I have created numerous crypto wallets to try different applications but I have made an effort to consolidate these over time. In transferring the funds between wallets, I have inevitably generated what is referred to as “dust.” Quoting Cryptopedia, dust “typically has negligible monetary value, ranging from minuscule fractions of a penny to a few dollars. In the crypto world, dust is a byproduct of numerous trades and transactions and is found on most blockchains.”

I was recently forced to close some of these old wallets. One exchange closed their doors to New Yorkers and another wallet announced plans to close their operations. Frankly, I did not even recall having any money on these applications, and if I had anything it was certainly not a lot of money. To my surprise what I left several years ago had real value today.

The Cryptopedia definition continues to explain “dust is not something most crypto holders should be concerned about, but it’s a good idea to know what those small amounts in your wallet are and how they accumulate.”

Just like money that mysteriously accumulates in your couch, the amount of crypto dust in your accounts may be greater than you recall, and with the appreciation of digital currencies, this dust could suddenly gain a real value over time. Don’t forget to look under the pillows.

a16z NFT Conference…the videos

Two weeks ago, I attended Andreessen Horowitz’s NFT Virtual Summit, an afternoon of discussion on the latest trends in NFTs from a16z partners and executives at top NFT companies including Dapper Labs, Rally, and Open Sea. Videos from the sessions have just been released and I would recommend these to anyone interested in gaining a better understanding of this growing crypto development.

The Headlines

Market Data

Thoughts on the Ecosystem

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