Coin Logic Daily News Flash - Top Crypto News For December 21, 2021

Hello everyone and welcome back to another Coin Logic Daily News Flash where we bring you our top stories from some of the top crypto news sources in the space. All of the articles below can be found in our News Center on Coin Logic.

Not only do we use 4 of the top news sources in the space, but we also source our news and updates directly from the Hive blockchain community!

Our primary news sources are:
AMB Crypto Bitcoin.com Bitcoin Magazine Decrypto.co

Top Story from AMB Crypto

This U.S city becomes the first to add payroll conversion to crypto for employees

https://ambcrypto.com/this-u-s-city-becomes-the-first-to-add-payroll-conversion-to-crypto-for-employees/

Our Summary:

With all the hype around different cities in the US vying for the 'Blockchain City' title, one of the first movers isn't one that you may think... Jackson, Tennessee is the first US city to add a crypto conversion offering to city employees! You would think that NYC or Miami would have been the ones to strike first, but nope, it's a little town about an hour northeast of Memphis.

There have been some concerns but Mayor Scott Conger is assuring everyone that it is not something they have to do, it is simply an option, similar to taking part of your salary in stocks at a traditional company.

This is a huge step forward for a small city, and one that is certainly making some waves! Be sure to take a look at the article from AMB Crypto for all the details!

Top Story From Bitcoin.com

The First Interactive NFT in the World - VR Movie on Mars

https://news.bitcoin.com/the-first-interactive-nft-in-the-world-vr-movie-on-mars/

Our Summary:

This article is really pushing a new project that is creating an interactive metaverse NFT experience on Mars!

The goal of this project is not just to create an amazing game, we are building a vibrant Martian Community, an outpost in the larger metaverse where anything is possible! If you believe in this extraordinary life on Mars, hold an NFT or get yourself a Mars4 token and get involved.

From the looks of it, it seems to be they are selling portions of land on Mars as NFTs and allowing interactivity. Seems to be something pretty cool and one you may want to look up and do your own research on. Something we will keep our eye on.

The article isn't really telling much, but there are some links for you to check out the app for yourself. Just thought this was something that looked pretty cool, so we are sharing it... Cause honestly, it's a boring news day...

Top Story From Bitcoin Magazine

CHINA IS MINING BITCOIN UNDERGROUND: REPORT

https://bitcoinmagazine.com/business/china-is-mining-bitcoin-underground-report

Our Summary:

Despite the CCP's authoritarian crack down on crypto mining back in September, some Chinese miners are still hashing away, but underground. Well, not necessarily under the ground, but they are doing it on the down low and in creative ways to be able to stay under the radar of the Chinese government ran power grids.

One miner told CNBC in an interview that he had spread his miners out to different locations so he wasn't picked up as using too much power. Essentially, mining is no longer a big business in China, it has turned into a black market trade. As of the writing of this article, there are still 125 Bitcoin nodes running on Chinese soil.

Top Story From Decrypt.co

Gwyneth Paltrow Announces Bitcoin Giveaway via Cash App Partnership

https://decrypt.co/88858/gwyneth-paltrow-announces-bitcoin-giveaway-in-cash-app-partnership

Our Summary:

And yet another celebrity trying to stay relevant... Gwyneth Paltrow has partnered with Cash App to give away Bitcoin to her social media followers.

She will be giving away $500,000 in Bitcoin to her loyal fans.

Fans just need to comment on Paltrow's Instagram and Twitter posts and they will be selected randomly and given up to $100 in Bitcoin, according to Cash App.

If you love you some Gwyneth and Bitcoin and want to go follow her on social media, you might get some free satoshis on her behalf from Cash App! Make sure to check the article for all the details.

Top Story From the Hive Blockchain

Why Bitcoin And Eth Are Not Competitors: Asset And Network

Our Summary: Hive author, @whatageek posted a great article talking about why Bitcoin and Ethereum are not competitors. Basically saying that they are competing for marketcap but are two completely different networks with completely different use cases.

The author does a great job of explaining that Bitcoin is the face asset and Ethereum is the network that most things will be ran on. Basically the gold vs the oil. They both can be used as a store of value of course, but Ethereum is the network that dapps and businesses are built on. Bitcoin has basically made it's bed as the digital gold, or the reserve asset for most crypto holders.

The issue really just stems down to tribalism. Once we can get over which one is better than the other and get to the point that they work together for a common cause, then we will always hear the Bitcoin and Eth maxis screaming at each other... All the while we are on Hive thriving and building!

Make sure to go check out the full article as this is just the basic summary and if you are on Hive, make sure to give it a solid upvote and consider giving @whatageek a follow!

Nothing we say is financial advise. This is for educational and recreational purposes only! Stay safe in these volatile markets and don't get rekt!

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