May 13 is crypto Rugs Giving day

[bbc.reporter]

Elon rugpulled bitcoin by removing personal support and removing acceptance from Tesla. Vitalik rug pulled Shibcoin by dumping on market and donating the Eth profited to India’s covid relief fund. Who is the hero and who is the villain?



Three months after Tesla said it would begin accepting the cryptocurrency Bitcoin as payment, the electric carmaker has abruptly reversed course.

In a message posted to Twitter on Wednesday, Elon Musk, Tesla’s chief executive, said Tesla had suspended accepting Bitcoin because of concern about the energy consumed by computers crunching the calculations that underpin the currency.

Read in full https://www.nytimes.com/2021/05/12/automobiles/tesla-bitcoin.html



Ethereum’s co-founder Vitalik Buterin, who became the world’s youngest known crypto billionaire less than two weeks ago, has donated over $1 billion in crypto to the India Covid Relief Fund and a range of other charities.

He made the donation by offloading massive amounts of dog-themed meme tokens, which he was gifted by the creators of Shiba Inu coin (SHIB), Dogelon (ELON) and Akita Inu (AKITA). These cryptocurrencies have taken off following Dogecoin’s staggering rally of the last few months. Though built around similar memes, these copycats have much larger token supplies.

In a single transaction, Buterin donated 50 trillion SHIB tokens worth $1.2 billion as of May 12, 16:37 pm E.T. to the India Covid Relief Fund set up by Indian tech entrepreneur Sandeep Nailwal.

Read in full https://www.forbes.com/sites/ninabambysheva/2021/05/12/ethereums-co-founder-vitalik-buterin-donates-over-1-billion-to-india-covid-relief-fund-and-other-charities/?sh=3c03daaf6548

[bbc.reporter]

It appears we can be argue that Vitalik Buterin’s large donation of dog themed tokens to India’s covid relief fund might have changed their government’s stance on the cryptospace hehehe. Those useless meme tokens might have saved thousands of lives.



India May Backtrack on Total Cryptocurrency Ban

It may form a committee that will focus on regulating the novel asset class in the country.

One government official with knowledge of the matter claims that the aforementioned ban needs “a fresh look”:

There is a view within the government that the recommendations made by Subhash Garg are dated and a fresh look is needed at use of cryptos rather than a total ban.

Source https://u.today/india-may-backtrack-on-total-cryptocurrency-ban

[Darker45]

It appears we can be argue that Vitalik Buterin’s large donation of dog themed tokens to India’s covid relief fund might have changed their government’s stance on the cryptospace hehehe. Those useless meme tokens might have saved thousands of lives.

There may or may not be any connection at all but I guess if the regulating authorities themselves heard of a crypto donation amounting to more than a billion in USD for their country's COVID relief fund, it might be possible for them to revisit their earlier inclination against cryptocurrency. Vitalik's action must have been interpreted as a sort of a goodwill.

As to who's the hero and the villain between the two, the answer is obvious.

[GreatArkansas]

There was additional happened to animal coins sent to Vitalik Buterin address,
Vitalik Buterin burned 90% of Shiba tokens sent to his address and 10% will be sent to some charity similar to crypto relief (undecided which charity).

Vitalik left a message on the Ethereum transaction, which you can see here: https://etherscan.io/tx/0x7a69f558bdc4aaf1e6bab9473c84cb2fddbd1e419c44d5c22eb88bedeb09657c

Vitalik rugged these shitcoins in good way which those money will be in use with a lot of people.

[hd49728]

SHIBA can be a test from Vitalik for the future products of Ethereum. Do anyone think of SHIBA like this?

Ethereum will be upgraded and it won't make us disappointed. Future products have yet been revealed but Vitalik is a genius. SHIBA can be a prototype from Vitalik for his future development plans.

Surprised to be one of crypto witnesses in the Rugsgiving days.

[bbc.reporter]

It appears we can be argue that Vitalik Buterin’s large donation of dog themed tokens to India’s covid relief fund might have changed their government’s stance on the cryptospace hehehe. Those useless meme tokens might have saved thousands of lives.

There may or may not be any connection at all but I guess if the regulating authorities themselves heard of a crypto donation amounting to more than a billion in USD for their country's COVID relief fund, it might be possible for them to revisit their earlier inclination against cryptocurrency. Vitalik's action must have been interpreted as a sort of a goodwill.

As to who's the hero and the villain between the two, the answer is obvious.

It now appears that the central bank of India already has revisited their earlier proposals on the ban, then they had them reversed quietly and only recently sent this memo to the banks. This is very bullish news!



It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies by making a reference to the RBI circular DBR.No.BP.BC.104/08.13.102/2017-18 dated April 06, 2018. Such references to the above circular by banks/ regulated entities are not in order as this  circular was set aside by the Hon’ble Supreme Court on March 04, 2020 in the matter of Writ Petition (Civil) No.528 of 2018 (Internet and Mobile Association of India v. Reserve Bank of India). As such, in view of the order of the Hon’ble Supreme Court, the circular is no longer valid from the date of the Supreme Court judgement, and therefore cannot be cited or quoted from.

Source https://m.rbi.org.in//Scripts/NotificationUser.aspx?Id=12103&Mode=0



I hope we get more clarification on China’s proposals this week after a meeting of officials in Sichuan on June 2. The proposed policies might be announced on June 4. Friday is usually the day Beijing announces important policy changes.