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How crypto could change the world and Why Cryptocurrency was invented in the first place.
People used to pay each other in gold and silver. Difficult to transport. Difficult to divide.
Paper money was invented. A claim to gold in a bank vault. Easier to transport and divide.
Banks gave out more paper money than they had gold in the vault. They ran “fractional reserves”. A real money maker. But every now and then, banks collapsed because of runs on the bank.
Central banking was invented. Central banks would be lenders of last resort. Runs on the bank were thus mitigated by banks guaranteeing each other’s deposits through a central bank. The risk of a bank run was not lowered. Its frequency was diminished and its impact was increased. After all, banks remained basically insolvent in this fractional reserve scheme.
Banks would still get in trouble. But now, if one bank got in sufficient trouble, they would all be in trouble at the same time. Governments would have to step in to save them.
All ties between the financial system and gold were severed in 1971 when Nixon decided that the USD would no longer be exchangeable for a fixed amount of gold. This exacerbated the problem, because there was now effectively no limit anymore on the amount of paper money that banks could create.
From this moment on, all money was created as credit. Money ceased to be supported by an asset. When you take out a loan, money is created and lent to you. Banks expect this freshly minted money to be returned to them with interest. Sure, banks need to keep adequate reserves. But these reserves basically consist of the same credit-based money. And reserves are much lower than the loans they make.
This led to an explosion in the money supply. The Federal Reserve stopped reporting M3 in 2006. But the ECB currently reports a yearly increase in the supply of the euro of about 5%.
This leads to a yearly increase in prices. The price increase is somewhat lower than the increase in the money supply. This is because of increased productivity. Society gets better at producing stuff cheaper all the time. So, in absence of money creation you would expect prices to drop every year. That they don’t is the effect of money creation.
What remains is an inflation rate in the 2% range.
Banks have discovered that they can siphon off all the productivity increase + 2% every year, without people complaining too much. They accomplish this currently by increasing the money supply by 5% per year, getting this money returned to them at an interest.
Apart from this insidious tax on society, banks take society hostage every couple of years. In case of a financial crisis, banks need bailouts or the system will collapse.
Apart from these problems, banks and governments are now striving to do away with cash. This would mean that no two free men would be able to exchange money without intermediation by a bank. If you believe that to transact with others is a fundamental right, this should scare you.
The absence of sound money was at the root of the problem. We were force-fed paper money because there were no good alternatives. Gold and silver remain difficult to use.
When it was tried to launch a private currency backed by precious metals (Liberty dollar), this initiative was shut down because it undermined the U.S. currency system. Apparently, a currency alternative could only thrive if “nobody” launched it and if they was no central point of failure.
What was needed was a peer-to-peer electronic cash system. This was what Satoshi Nakamoto described in 2008. It was a response to all the problems described above. That is why he labeled the genesis block with the text: “03/Jan/2009 Chancellor on brink of second bailout for banks.”. Bitcoin was meant to be an alternative to our current financial system.
So, if you find yourself religiously checking some cryptocurrency’s price, or bogged down in discussions about the “one true bitcoin”, or constantly asking what currency to buy, please at least remember that we have bigger fish to fry.
We are here to fix the financial system.
Given how early in the Rogers Adoption Curve for Crypto we are, I would like to take a moment so we can just imagine what this technological revolution, which I consider is the next huge step for human kind, could bring. I will emphasize some socioeconomic implications of descentralization, but I`m mostly interested in listening to, and debating your inputs.
Blockchain and Crypto Currency are here to change the world forever.
The implications of decentralization
As you may know one of the core proposals of blockchain is decentralization, and with it we can optimize so many processes that this alone could be the revolution we are talking about. By eliminating intermediaries, we can save on the cost they add to the supply chain ensuring those that create the value, keep it. Or we can simply save on fees.
To quote the man himself:
Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly. – Vitalik Buterin.
To put it simply, imagine that you replace Binance (a centralized company) with a robot. A robot that you have programed so well, whose code you publicly audit, and that is so safe you can trust it with billions of dollars in liquidity pools, so it proceeds to host and operate the trading platform by itself. In case you didn’t know, this is already a reality! Many people here trade on those platforms on a daily basis.
But this goes beyond replacing Centralized Exchanges with Automated Market Makers, Airbnb with a blockchain DApp that connects landlords and costumers, or even banks with complex smart contracts that allow you to borrow, save, tokenize physical assets, and so on. This goes way beyond.
Here is where I start to fantasize of the future. Think about replacing capital itself, think about getting rid of corporations. Lets dream of a world with DAOs massive adoption.
With DeFi, we may no longer need a company like Nestlé…
And specially not their investors. Of course, you will still need the people administrating, planning, monitoring, generating new ideas that adapt to their context, and creating innovative solutions for a complex world only humans can comprehend. But the figure of shareholders and CEOs that steal all the value that workers create and leave them with a tiny fraction of it, can disappear. This can be the basis of a once in a century transformation.
Just as an example: Nestlè’s coffee growers in Colombia keep less than 10% of the final sale price, and barely make a living on it, so are actually abandoning the rural areas.
With Blockchain, DeFi and Smart Contracts, people like you and me can collectively fund such an operation, and then agree upon specific terms like wages by direct democracy, voting with our crypto holdings. Then we would proceed to allocate funds, hire “developers” which would ultimately be regular office jobs that keep the organization functioning. Once in operation we would frequently vote on decisions and results, which would ultimately keep the highest level of accountability for people working in the organization. This is already happening by the way, this is how some blockchain projects work today. We just haven’t applied it to industrial and physical supply chains yet.
Let’s go back to our project to replace Nestle. Imagine that an organization’s main goal is not to maximize profits for shareholders and bonuses for CEOs anymore. Instead, it’s the interest of regular people and the company’s collaborators that drive its actions.
Most likely, you and I will want to consolidate an efficient and effective supply chain, that is sustainable and keeps the dignity and wellbeing of its collaborators as a guiding principle. We are not longer at their mercy on issues like climate change, we can now take immediate action against it, or stop endangering and hoarding water supplies in classic Nestle fashion.
Also, we are making profits, so we are redistributing capital, and improving our quality of life, which will be most notorious in the most vulnerable communities, usually those that extract/harvest/mine raw materials.
This is what could happen with the blockchain descentralization of business. And you could apply it to pretty much anything, but maybe initially it could be for low labor and capital intensive businesses.
I’ll give you another example. I work for a solar power multinational company. If you don’t know it, solar energy is essentially a financial product, most people working in these companies don’t care about the world, its simply that solar is a very safe and lucrative hustle, and all investors care about is having a nice return of investment (ROI). As of now, my company works exclusively for large scale corporate clients or the state itself, given that’s where the nice ROIs are, since they give you the projects that allow you to place large capitals at once. This means, as of today, we blatantly ignore the regular people that seek for our help and funding to power their farms and/or houses with solar energy. They’re not that profitable my boss tells me. This is shitty, and I’ve thought of quitting several times.
But back to the point. Now, imagine once again, we get rid of the institutional investors. Now you and me create Reddit Solar Co, a DAO. Our only purpose is to facilitate access to electricity to those without it, and to advance in the urban implementation of renewable energy. We help the world, make dividends that are automatically distributed by the DAO, and also our own Crypto is rising in value.
And this is not the best.
Let’s not forget of synergies.
So, we just created a DAO that manufactures and distributes food globally right? Or maybe Reddit Solar Co. As an organization born on the blockchain, we won’t have to adapt to the state of the art innovations on the crypto world like an old steam locomotive attempting to adapt a warp drive on top of it. We were born in space.
From the beginning, our Ethereum based DAO could adopt VeChain’s solution for supply chains, Cardano will help us to give an integral solution to the unbanked communities that provide our raw material, they now have IDs, access to DeFi and education. The land deeds and legal documents that relate to our enterprise are certified by LTO Network, we move money internationally with XRP or Stellar, and don’t worry, we use Polkadot to ensure proper blockchain interoperability.
Too complex for you? Don’t worry, you don’t even have to know or care about this, leave that to others. You’re into finance. Maybe sales is your thing and there’s a little Michael Scott in you. Or you`re into social work and want to supervise our community engagement at the start of the supply chain. Just go do your thing! You don’t necessarily have to be involved in all of this.
All you know is you do your job and receive your crypto salary.
Just as computers and the internet changed the world forever, and not only had economic implications but also changed our culture, routines, work lives and ways to interact with each other, crypto will. We are just so early; that all we can do for now is dream.
You’re having too much hope in humanity dude…
Sure, I may be making some optimistic assumptions on the motivations of humans, I may be saying that we will use this technology for good, and that we care about each other, and that’s one way to look at it. But we could also argue in favor of this from a sceptic perspective: even if you don’t care about the collective wellbeing of your community, it’s in your interest to live in a safer environment right? Ergo you want to reduce poverty. Its also in your interest to stop global warming so organized human life can continue to exist, or to make sure you and your children will have water and food in 50 years, that’s why you will want to use technology for good even if you only care about yourself. Also lets not forget the powerful incentive of profits. Crypto has the clear potential to achieve all of this.
Most of the current generation of crypto projects will be ready and operating within the next 3 years, so all we will need by then is the will to use this technology for good, and the vision to change the world.
This is just the beginning, we will be killing industries but giving birth to others we could have never imagined before.
Cons of Crypto:
A coin called “Chia” is gobbling up 1,125,000 TB storage per day. Just to farm this token that no one seems to use. This takes resource wastage to a whole new level.
Chia is a coin that works on a proof of time space consensus. I.e. to farm this coin, one must allot dedicated hard drives and allot the space (known as plots), and get rewarded for it. Sounds good on paper, and one could even be tempted to think they may put that spare 500 GB space left and earn some passive income on it.
Except, this one already requires industrial grade storage space, just to farm a token that has almost zero adoption anywhere.
As you can see from this coin’s explorer, the storage is growing by almost 1000 PiB per day, in the last few days.
1 PiB = 1125.9 TB.
So a growth of 1000 PiB per day => almost 1125000 TB of storage per day is added onto this network, just to mine these coins. This equates to 1.1 million 1 TB drives added per day just to support farming on this network!
Pros of Crypto:
– People in Hong Kong Use The Crypto and Blockchain To Fight Against Media Censorship
- Network effect and staying power
BTC is the first virtual currency to solve the double-spending issue. The Bitcoin Protocol offered a solution to the Byzantine Generals’ Problem with a blockchain network structure, a notion first created by Stuart Haber and W. Scott Stornetta in 1991.
- Bitcoin undoubtedly has a ‘brand’. It has perhaps the most substantial name recognition of any existing crypto asset and is basically synonymous with ‘cryptocurrency’ to the lay public.
- Despite near constant proclamations of its demise, Bitcoin has not died. One could argue that – as the progenitor of cryptocurrencies – its longevity and continued profitability is itself an investment thesis.
- As the number of public addresses, daily active users (DAU), and large holders/long term holders continue to trend upwards, it becomes harder and harder to ‘put the genie back in the bottle’:
- Bitcoin’s valuation is well described by the most fundamental factor intrinsic to its network: the number of addresses that hold BTC. Applying Metcalfe’s law, the total value of Bitcoin’s network is well explained, with an R squared of 93.8%, simply by the square of its user base, n.
- Store of value to hedge inflation
- Over its lifetime, narratives of Bitcoin’s value have gone through several shifts, from the original cypherpunk vision in the white paper of p2p ‘e-cash’ to today’s ‘digital gold’ narrative.
- One theme underlying both of these points, however, is a reaction to or distrust in the current financial system. This was true during the financial crisis of 2008 (see the genesis block message) and is still relevant today with unprecedented levels of monetary and fiscal stimulus being pursued by governments worldwide. Government deficits and central bank money printing may lead to inflation and thus drive investors towards assets like gold or Bitcoin to preserve their wealth.
- This notion that BTC is a store of value to hedge inflation has certainly caught on in the last few years – not just from institutional or hedge fund investors, but from companies like MicroStrategy, Square and Tesla adding BTC to their balance sheets.
- Like gold, BTC is scarce – only 21M will ever exist. It is estimated that 3M-3.7M BTC have been lost forever/will never enter circulating supply again.. One estimate is that 14.5M BTC are essentially illiquid.
- To take one example, Grayscale’s BTC trust – which has no redemption process and thus effectively takes BTC out of circulation – alone holds over 600k BTC.
- Like gold, BTC is also divisible, interchangeable and durable. Unlike gold, however, BTC is a digital asset and is thus easier to purchase, move and store.
- If the store of value narrative endures, Bitcoin may have significant upside in supplanting a share of gold’s use case (estimated to be a $10T asset class).
- One of the common counterarguments for Bitcoin is that it is a ‘dinosaur’ with little technological improvement or development (as compared to its more innovative successors).
- Schisms in the dev community notwithstanding, Bitcoin remains an open-source project with global development communities and activity
- Developments of note include:
- Segregated Witness (SegWit): a protocol upgrade proposal that went live in August 2017. This protocol upgrade effectively increased the number of transactions that can be stored in a single block, enabling the network to handle more transactions per second (TPS)
- Lightning Network: is a second-layer micropayment solution for scalability
- Taproot: an anticipated upgrade to increase privacy and improve upon other factors related to complex transactions
- While other blockchains boast enterprise development, some companies are indeed building on Bitcoin. For example, Microsoft recently launched a Decentralized Identifier (DID) network (ION) on the Bitcoin mainnet
- Ideological foundation for a potentially new financial system, without the old, decrepit, and corrupt banks and middle men.
- The Environmental Argument is almost pointless, as it is the most efficient way of transporting millions of dollars around the world in mere seconds. And I mean efficient in all ways, there us no other single asset in the world capable of transporting this amount of capital wealth with such a low environmental impact or financial cost. If not, try moving 4 millions dollars of gold. Also, as Btc increases in value, this gets more on more efficient.
- Innovation of the technology and the first mover advantage in capturing this new market’s value/future value. Btc will always be at the top as mainstream adoption continues relating Crypto=Bitcoin.
- Ability to be bankless, with proven liquidity (thanks to Tesla) and with the best performing asset creation-to-date.
- Inability of third parties to do anything about your Btc holding without the seed phrase. Government’s can hardly tax it if, as Michael Saylor put it: “I had a boating accident and forgot my seedphrase, I don’t have acces to my crypto anymore so I can’t be taxed”. In a way, nobody but yourself can prove that you still have access to those funds, so, can they truly be taxable?
- The S2F model and updated S2F XA model. So far they have been scarily precise. Otherwise, Metcalfe’s law assures anyone that bitcoin may never go to 0, as the network is already strong enough to provide a certain degree of value.
- Bitcoin has been around way too long, and to the uneducated it is the face of the crypto world.
- Bitcoin has no smart contracts.
- Bitcoin is slow.
- Bitcoin fees are expensive.
- People see it as an investment, not a currency they can use and spend. In the end this is not defined as it’s supposed to be used, but only as store of value. It’s at the state of gold, not of a coin.
- Bitcoin has become outdated, the only thing it’s useful for is investing, day to day transactions are useless.
- Bitcoin’s largest advantage and in fact it’s greatest disadvantage is that it’s the oldest cryptocurrency. Since then technology has evolved so much to become more energy and time efficient.
- Bitcoin is like the grandpa of crypto and we should look at it as such. Admire it for its wisdom because it has taught us so much, but also acknowledge that each of its children are trying to make their own marks on the world.
- It’s huge environmental impact due to its proof-of-work concept. BTC has a carbon footprint like Singapore, uses as much electrical energy as the Netherlands, and produces as much electronic waste as Luxembourg. This is a huge problem and needs to be accepted more widely.
- It’s slow. with an average transaction time of like 10 minutes, we are pretty far from instant transactions – this might not be a problem in all cases, but is one when one would like to use it like a currency, as it was planned originally
- High transaction costs – not ETH-high, but too high
- Bitcoin takes a lot of energy to mine and use. As of May 2021, a single Bitcoin transaction takes as much energy as 760,201 VISA credit card payments (source). To keep this in context, the world banking system uses about two times as much energy as the Bitcoin network (source)
- Bitcoin is difficult to mine. GPUs and CPUs don’t have enough computing power to compete with other miners, meaning so-called Application-Specific Integrated Chips (ASICs) are required. These are expensive – generally in the range of $1000 to $6000, depending on how new the model is (source). This restricts Bitcoin’s mining pool to people and groups who have enough wealth to invest in ASICs, which threatens the goal of keeping cryptocurrency decentralized.
- Bitcoin transactions can take a long time to be confirmed. The average time for a transaction to confirmed once is 10 minutes (source), but for a payment to be absolutely final, it needs to be included in multiple blocks to ensure consensus in the mining pool. This takes even longer, sometimes up to one hour (source, for 6 confirmations).
- Bitcoin transactions require expensive mining fees. At the moment, the average fee for a single transaction is $14.35, making Bitcoin unsuitable for day to day use (source).
- Bitcoin lacks many features available in other coins, including smart contracts (programs run on and enforced by the blockchain, see here), anonymity (source), and CPU mining (allowing anyone with a CPU to mine, thus making the network more democratic and less susceptible to being taken over by large groups).
Crypto is definitely a good way to make money. However, you might end up finding the tech interesting. I know that I sure did, and having a sound understanding of your investment will make a big difference in your ability to hodl. It doesn’t have to be much, just a few YouTube videos.
Strategies when it comes to cryptocurrencies
The HODL’er: you buy and basically you never sell. It’s kind of the holy grail of strategies when it comes to crypto according to this sub. Buy and forget and check back 10 years later. You’re a millionaire, Harry! No stress and no maintenance. You can even buy more over time and continue stacking your fat holdings. Do this if you believe in crypto long term
The Goal Setter: set a goal and sell when you reach that goal. Maybe it’s 3x and I’m out. Or maybe it’s make enough for student loans and I’m out. Or maybe it’s $1MM and sell half. Can be anything. Stress depends on your goal.
The Active Trader: Buy high and sell low
The Swing Trader: Some people are good at trading – they usually wait for those days where the whole market bleeds 20-30% in a day then they buy and wait for the bounce and they sell. Rinse and repeat. But they also risk missing out on the rocket jumps. But they also minimize the risk of being in the market when there’s a crash. In the end they might be able to increase their total holdings but for most beginners they lose rather than win. High stress and high maintenance.
The Cycle Trader: you DCA in during the bear market when everything has lost 80-90% of its ATH (alternatively, a year before the Bitcoin halving). Then you slowly sell off everything approximately a year after crypto starts trending up and enters a bull market. So this method has worked well for many people – they don’t necessarily time the top right but they continue to increase their holdings over several cycles. This might be the smart move if you have discipline. The risk is that history no longer repeats itself. It has worked the past 2 cycles but it’s not guaranteed it’ll work again. Medium stress, low maintenance
The Arbitrager: usually they have algos do the trading for them. They minimize risk and just arbitrage the price differences between exchanges. They might not care about crypto and just want to make money. They miss out on the bull run but also miss out on the bear market. Low stress, medium maintenance.
The Moon Chaser: 1000x or bust. Forget $10K eth or $100K btc, they want the next shiba or safe moon. They buy coins with market caps in the millions and hope for the pump to sell. This is like the lottery ticket buyers of crypto. High stress, high maintenance, smooth brain
Crypto: What to do in the bear market
–HODL, dont sell with a loss if you believe in your Coin long term.
–Stake, staking is really important! I cant tell you enough, if we are in a bear market and you can stake for a few years you can easily get 20-30% more coins then you have right now.
–DCA, keep buying. The bear market is where you DCA, dont stop buying. Right now is where you can get coins cheap! Just dont stop DCAing cause you are scared! Pick projects you believe in long term and keep buying at low prices!
–Get rid of coins you dont believe in long term, shitcoins. Many wont survive the bear market.
–Research coins for the next bull run!
Crypto Currency Market Cap Visualized during the Pandemic
Latest News on Crypto:
- Nigerian central bank does U-turn on crypto ban
- Paypal allowing withdrawal of crypto
- Billionaire Carl Icahn eyeing $1.5 billion investment in Bitcoin
- Sheetz convenience store becomes the first store chain to accept crypto
- Nashville couple suing IRS over staking gains being taxable
- Dubai’s first cryptocurrency rises over 1000% since its debut
- Biden announces $6 Trillion budget
- Colorado wants to be the first state to accept Crypto
- Large investors bought $3 Billion during the pullback
- Texas creates legal clarity for Bitcoin
- SEC starts scrutiny of Skybridge and Fidelity’s Bitcoin ETF bids
- Texas Bitcoin Bill Gets Senate Approval
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- Using blockchain, NASA intends to validate its upcoming Moon landingby WorldmagzineNews (Bitcoin on Medium) on September 26, 2023 at 12:19 pm
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- Blockchain Summit Latam 7ma Edición, Bogotá Abriendo Puertas a la Descentralización Tecnológicaby Jenny T. (Blockchain on Medium) on September 26, 2023 at 12:18 pm
By PhotopiolaContinue reading on Medium »
- Paradigm Change: Introducing Celestia — The Modular Blockchain Revolutionizing the Crypto Worldby Ral Hanganu (Bitcoin on Medium) on September 26, 2023 at 12:15 pm
In the rapidly evolving world of cryptocurrencies, a groundbreaking concept is captivating the attention of the crypto community — the…Continue reading on Easy2Stake »
- Paradigm Change: Introducing Celestia — The Modular Blockchain Revolutionizing the Crypto Worldby Ral Hanganu (Blockchain on Medium) on September 26, 2023 at 12:15 pm
In the rapidly evolving world of cryptocurrencies, a groundbreaking concept is captivating the attention of the crypto community — the…Continue reading on Easy2Stake »
- Decentralized Lottery: No Need to Waste Time Travelingby MegaMoon (Blockchain on Medium) on September 26, 2023 at 12:14 pm
Continue reading on Medium »
- Stellar (XLM): Making Financial Services Accessible Worldwideby MarsNext (Blockchain on Medium) on September 26, 2023 at 12:13 pm
Stellar (XLM) is a blockchain-based platform and cryptocurrency designed to facilitate fast, low-cost cross-border payments and asset…Continue reading on Medium »
- Decentralized Lottery: Instant Millionaire Potential in Short Roundsby MegaMoon (Blockchain on Medium) on September 26, 2023 at 12:13 pm
The dream of becoming a millionaire has been a tantalizing aspiration for many throughout history. Lotteries have long promised this dream…Continue reading on Medium »
- “I invested with a Crypto broker without proper research to know what I was hoarding my hard-earned…by Tsubkemwkhhe (Bitcoin on Medium) on September 26, 2023 at 12:08 pm
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- Zelda is a revolutionary memecoin that offers a unique play-to-earn experience.by ZELDA (Bitcoin on Medium) on September 26, 2023 at 11:59 am
WEB🌐 — zelda.cashContinue reading on Medium »
- MoneyGram unveils non-custodial wallet to bridge the worlds of crypto and fiat currency with USDCby /u/elidevious (Cryptocurrency News & Discussion) on September 26, 2023 at 11:55 am
submitted by /u/elidevious [link] [comments]
- Ben Armstrong, Founder of Bitboy Crypto Channel, Released on Bail After Arrestby /u/vijnsko (Cryptocurrency News & Discussion) on September 26, 2023 at 11:54 am
submitted by /u/vijnsko [link] [comments]
- Leaked Microsoft documents regarding BTCby /u/Safe_Boot677 (Cryptocurrency News & Discussion) on September 26, 2023 at 11:37 am
submitted by /u/Safe_Boot677 [link] [comments]
- Kraken Pro. Is it just me, or have they traded user friendliness for increased functionality?by /u/MonsieurGump (Cryptocurrency News & Discussion) on September 26, 2023 at 11:37 am
Kraken Let me start by saying Kraken has been my preferred exchange for ages. Their ease of use and customer service sets them apart from the others. I’m not the only one that thinks this, they’ve a great reputation in this sub. Pro or Amateur- but nothing in between Recently Kraken has changed. Until a couple of weeks ago, you could buy and sell instantly or set a price (with limits and conditions) through an easy to understand dashboard. Charts were available showing movement, orders and market depth, but these were “click through”. Now we’ve got Kraken Pro. On my phone this is unusable. The charts overlap the search bars, nothing fits on the screen and it’s just an over complicated ordeal trying to do anything. The other option is an interface that allows you to deal at market value and little else. Kraken Pro or Kraken amateur. I was happy with “Kraken Intermediate” I know there’s an app, but I’m not keen on downloading it. I don’t want an extra point of failure that I forget to log out of. Is it just me? Does everyone else love “New Kraken”? What’s the opinion of the group? submitted by /u/MonsieurGump [link] [comments]
- Binance Japan and Mitsubishi join forces for stablecoin developmentby /u/Clpunit (Cryptocurrency News & Discussion) on September 26, 2023 at 11:04 am
submitted by /u/Clpunit [link] [comments]
- New Cycle Coins v BTC/ETH v Total crypto market. Two week updateby /u/ShotCryptographer523 (Cryptocurrency News & Discussion) on September 26, 2023 at 10:06 am
Here is the update after two weeks of the performance of New cycle coins v BTC/ETH v total crypto market cap: https://preview.redd.it/qkr3plzjskqb1.png?width=1274&format=png&auto=webp&s=bff9dc11c9535f37bf3d17abf072ce3ab87ee283 Not surprisingly there is a lot of volatility between the new cycle coins. The range is +19% (Ton Coin) all the way to -19% (Astar). Overall they dropped -2% overall with only 3 coins in the positive which are Toncoin, Kaspa (top 100) and Merit Circle (low 100s) having very large gains. But 7 are negative by a generous amount especially compared to BTC/ETH.Some of the layer twos have dropped like Optimism and Arbitrum.I have $99.80 compared to $100 two weeks ago. BTC/ETH are very similar only dropping -1% all together with Ethereum getting -3% but BTC gaining +1% during this period. The Total Crypto market is about the same since. Although this is a snapshot in time, it is important to note that volatility is really high and the real lows and highs of many of these new cycle coins did change at greater percentages during this period. Kaspa was +30% about a week ago and Astar was at least -25% which shows exiting and entry into these coins need a strategy for timing. This sample will be better in time getting closer to the bull to see what performs the best. submitted by /u/ShotCryptographer523 [link] [comments]
- CZ appoints Binance security team to track Huobi HTX stolen fundsby /u/goldyluckinblokchain (Cryptocurrency News & Discussion) on September 26, 2023 at 9:53 am
submitted by /u/goldyluckinblokchain [link] [comments]
- Celsius' Bankruptcy Nears End as Creditors Approve Reorganization Planby /u/loksfox (Cryptocurrency News & Discussion) on September 26, 2023 at 9:25 am
submitted by /u/loksfox [link] [comments]
- Lazarus Group Becomes TRON Whale After CoinEx Hack, Holding 137M TRXby /u/Ri4iRi4 (Cryptocurrency News & Discussion) on September 26, 2023 at 9:15 am
submitted by /u/Ri4iRi4 [link] [comments]
- Why I switched from Metamask to Rabby? And why you should too?by /u/tookdrums (Cryptocurrency News & Discussion) on September 26, 2023 at 8:22 am
I'm what you could call a true defi degen and a few month ago I switched from Metamask to Rabby wallet and I like it so much that I want to share with you why it is so much better than Metamask. Compatibility Every Dapp that is compatible with metamask is compatible with Rabby too (if there is not a Rabby connect button just use the metamask one and it will work) Token approval I find Rabby so much secure than metamask with plenty of features designed to prevent you from losing your precious (or shitty) tokens Here is a screenshot of the token approval https://preview.redd.it/ev5ale511kqb1.png?width=438&format=png&auto=webp&s=c3f49eeb4be9e3bcc0a5bb18bcc72d780fe70f33 As you can see Rabby display several warnings.First it tells me that I never interacted with this contract before which is huge as in the case of a defacing like the balancer one recently the hacker are going to replace the contract with their own, hence if that happens Rabby will tell you that this is a new contract, suspicious. Also It warns about a low trust value for the token approval, this value represent the number of tokens standing by in addresses that the contract have access to. It is a great indicator of the level of trust other users have in this contract. Of course new contract will always have a low trust value in this case nothing beat a little block explorer investigation to make sure that everything look as it should. 3.Transaction Simulation results Before signing a transaction Rabby displays a Simulated result of the transaction https://preview.redd.it/inowtur92kqb1.png?width=409&format=png&auto=webp&s=7c20be45afa8ec2cf4bad3787cf64b019902bf50 Here you can see that after a swap it shows me how much I would pay in eth and get in USDC It works also for more complicated transactions this tool can be a life saver to verify that the transaction you are about to sign is what you think. 4 A way better address book than Metamask In metamask if you have several addresses you own to better compartimentalize your defi life every address has its own address book which can make it painfull to deposit to CEX when the address you are using now does not have it in its address book. In Rabby you only have one address book for all your addresses furthermore it will identify your CEX deposit address and label them accordingly which again helps you make sure you are sending to the right address. https://preview.redd.it/r94b55ug3kqb1.png?width=438&format=png&auto=webp&s=ad24ab6ba812cc5a99af7f9f580c352ff23e9e91 On this page I can verify that I'm about to send to my kraken address. Also you can see the system of whitelist. If an address has not been whitelisted then to send a transaction to it you will need to input your password and it will display a warning. Approval Checker I found Rabby has one of the best Approval checker tool. https://preview.redd.it/h5vw0fi74kqb1.png?width=1212&format=png&auto=webp&s=f0950ec8cf35a92186c48d0cfed40a7a176d4385 You can check your approval by contract or asset, it display the trust value of the approved contract and also allow you to select several token at a time (you will still have to sign each transaction but they will automatically pop up one after the other) A flawless Ledger integration Even for defi and several transactions per day I always use a hardware wallet. Nowadays I'm using a ledger nano X and its integration with Rabby was flawless. I could import several accounts at a time. No need to create a (unused) metamask seed to use ledger No connexion problem (also metamask improved a lot there too) Possibility to resend the transaction easily to the ledger if it was in stand by mode A better Swap function than metamask If you swap your token in metamask it adds of fee of 0.875% of your transactions while Rabby swap will query plenty of dex aggregator to get you the best rate and will use them natively not adding their own smart contract in the middle so you really get the best rate here is an example: https://preview.redd.it/314eu39l5kqb1.png?width=426&format=png&auto=webp&s=d8f0af81241f25e1c579e066de4e84dc4a1e17b3 You can even easily check how much you would get on a CEX. 7 No countless Manually adding ERC20 token to be able to send them In metamask (also they might have improved since I stopped using them) I had to manually find the tokens smart contract address in an explorer to be able to manually adds them to be able to transfer them to another address. In Rabby it uses the very complete Debank data to know which tokens you own and you are able to use or send them right away without manually adding them. 8 It change network seamlessly and instantly with the network the dapp is expecting And it worked so well I never had to add a custom RPC yet. Feel free to ask me anything regarding defi, Rabby, or even hardware wallet or crypto security. submitted by /u/tookdrums [link] [comments]
- Very cheap boredapes NFTs available on OpenSea for only 0.79 cents polygonby /u/nftorganic (NFT) on September 26, 2023 at 7:46 am
https://www.linkedin.com/posts/brock-b-4b2926292_ape-family-vacation-collection-opensea-activity-7111922267428655104-VPfJ?utm_source=share&utm_medium=member_android submitted by /u/nftorganic [link] [comments]
- This Engineer Is Creating a Bitcoin Game Changerby /u/ajnsd619 (Cryptocurrency News & Discussion) on September 26, 2023 at 7:40 am
Bitcoin mining is out of reach for most. But what if it wasn't? I follow the development of a special Bitcoin project on Github. BitAxe is an open-source ASIC Bitcoin solo miner. Although the work is ongoing, they've been running smoothly for several months. Bitaxe V1 This Bitcoin miner is a remarkable achievement. The specs are up for anyone who wishes to build. These are the real deal. Accessible and affordable mining. Another builder relied on the schematic to create his own design. 3\" x 5\" x 5\" JaBIT Solo Miner (Bitaxe V2.2) These are the first ever ASIC miners for Bitcoin and other SHA-256-based cryptocurrencies. This one's the JaBIT Solo Miner (Bitaxe V2.2). Its base is a little bigger than a credit card, and these are features I've confirmed: Open source Bitcoin ASIC miner Uses BM1397 Asic mining chip Single 7nm BM1397 chip Stock hashing speed: 200 GH Can be modified to achieve 500GH Runs silent Mini heatsink to cool miner Disclaimer: I'm not affiliated with the project. I urge anyone interested to research the device features. It's my understanding the Bitaxe and JaBIT Solo are different builds, which isn't uncommon for an open source project. Jacob James wrote a LinkedIn article that better describes his work. I encourage anyone interested to give it a read. If you plan to build one, feel free to message me. I've ordered components and am building one myself, based on Bitaxe original schematic. The Solo Pool going up already has 5000 members and growing. Solo Pool Best of luck to you.🙏 submitted by /u/ajnsd619 [link] [comments]
- BitBoy Ben Armstrong arrested for having a gun in carby /u/Real-Technician831 (Cryptocurrency News & Discussion) on September 26, 2023 at 7:24 am
Looks like a typical fall from grace. The guy needs help, let’s hope he is put into therapy. submitted by /u/Real-Technician831 [link] [comments]
- SEC Concerned About Coinbase’s Deal With Celsius: Reportby /u/kirtash93 (Cryptocurrency News & Discussion) on September 26, 2023 at 7:01 am
submitted by /u/kirtash93 [link] [comments]
- What Bear Market? Crypto Startups Raised $115M Last Weekby /u/-_-DarthVader (Cryptocurrency News & Discussion) on September 26, 2023 at 6:20 am
My portfolio is bleeding red but yeah, Spot crypto markets may still be deep in bear territory but venture capital investment is still flowing in to Web3 startups. More than $115 million was raised last week alone across a number of crypto startups. The largest raise of the week was blockchain game studio Proof of Play which netted $33 million in a round led by Andreessen Horowitz. submitted by /u/-_-DarthVader [link] [comments]
- PayPal’s stablecoin is a big step forward for crypto’s legitimacy but not much yet for the causeby /u/Geolinear (Cryptocurrency News & Discussion) on September 26, 2023 at 5:23 am
submitted by /u/Geolinear [link] [comments]
- Looking for some thoughts on simple NFT utilitiesby /u/hopstopscotch (NFT) on September 26, 2023 at 3:15 am
Hey all- Full transparency I have built an NFT project (I will NOT be naming this project, nor giving out any details that would doxx it) MODS if this post is not within guidelines, please delete. I am genuinely looking for advice as to what people look for in NFT utilities. My project is self-funded and I obviously don’t have tons of money to throw at it lol. One utility we already have in place is donating a fairly significant percentage of all profits to charity. Another is lore that will be built out over time. Here’s a utility idea we are looking at for our project: With each release we list 3-5 various combinations consisting of 5 NFT’s. Buyers look on our website to see which NFT’s they should be trying to collect. This makes the reward somewhat challenging but still obtainable. It would be once per collection. The reward would have several perks: Something that allows you to be first to buy, (can’t type out the word or it’s removed lol) A rare NFT, a percentage of sales, or a set amount of crypto. (We haven’t decided yet) Does this sound fun and engaging? I sort of equate it to when McDonalds does their monopoly game every once in a while lol. People can trade, buy etc. but nobody really knows who has what NFT unless the community comes together to figure it out. Thanks for any input! And if you have any ideas I’d love to hear them submitted by /u/hopstopscotch [link] [comments]
- Are NFTs dead? I’m asking you.by /u/The_Aechaar (NFT) on September 26, 2023 at 2:33 am
(A good intro point for anyone entering the NFT space) I’m re-entering the crypto space after a really long time, and I’m just curious if the NFT space is as supporting of young artists as it used to be. To be clear, I'm not questioning NFTs as a whole. I'm a massive proponent of the technology. I'm just wondering if it's worth spending my time and money to put my pieces up for sale. Are there any better alternatives for artists to make money? Which marketplace should I try if I was going to mint? Thanks for your insights in advance. (Slightly unrelated question: Do you think now is a good time to invest in NFTs and cryptocurrencies?) submitted by /u/The_Aechaar [link] [comments]
- Best utility nft collectionby /u/Active_Gazelle_2471 (NFT) on September 26, 2023 at 2:11 am
Best utility collection in my opinion The most profitable utility by far for me has been the “loudpunx” collection which is founded by rolling loud music festival which offers lifetime vip access to all and any of there shows , I will explain how I believe its the best utility in my eyes So rolling loud is a 3 day music festival that happens multiple times a year around the world . Tickets range from 450$ general admission, 1000$ vip and so own . With one of the loudpunx nfts it offers vip to all theres shows for life , so if you went to two shows you already made your money back , another thing is you can also rent it out to friends or people so you can sell them the vip wrist band even if you was to sell it at 700$ each show you dont go to , thats just all profit for you , while you still have possession of the nft !!! And on top of that you can always sell the nft submitted by /u/Active_Gazelle_2471 [link] [comments]
- Microsoft Leak: Adding Crypto Wllet In Xboxby /u/Valdeztron (NFT) on September 26, 2023 at 1:39 am
This can turn everything around for NFTs. The gaming might be the niche that set things off for NFTs! submitted by /u/Valdeztron [link] [comments]
- You want to make your first million in crypto with $100?by /u/Valdeztron (NFT) on September 26, 2023 at 12:09 am
It won’t happen investing in the trendiest collections or products. It comes from filtering the noise and digging in this bear market. You’ll have to have a Vision of a VC and a risk tolerance of $100 bucks. submitted by /u/Valdeztron [link] [comments]
- Daily Crypto Discussion - September 26, 2023 (GMT+0)by /u/CryptoDaily- (Cryptocurrency News & Discussion) on September 26, 2023 at 12:00 am
Welcome to the Daily Crypto Discussion thread. Please read the disclaimer and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules: All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect. Discussion topics must be related to cryptocurrency. Behave with civility and politeness. Do not use offensive, racist or homophobic language. Comments will be sorted by newest first. Useful Links: Beginner Resources Intro to r/Cryptocurrency MOONs 🌔 MOONs Wiki Page r/CryptoCurrency Discord r/CryptoCurrencyMemes Prior Daily Discussions - (Link fixed.) r/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance. Finding Other Discussion Threads Follow a mod account below to be notified in your home feed when the latest r/CC discussion thread of your interest is posted. u/CryptoDaily- — Posts the Daily Crypto Discussion threads. u/CryptoSkeptics — Posts the Monthly Skeptics Discussion threads. u/CryptoOptimists- — Posts the Monthly Optimists Discussion threads. u/CryptoNewsUpdates — Posts the Monthly News Summary threads. submitted by /u/CryptoDaily- [link] [comments]
- Best utility collection in my opinionby /u/Active_Gazelle_2471 (NFT) on September 25, 2023 at 11:52 pm
The most profitable utility by far for me has been the “loudpunx” collection which is founded by rolling loud music festival which offers lifetime vip access to all and any of there shows , I will explain how I believe its the best utility in my eyes So rolling loud is a 3 day music festival that happens multiple times a year around the world . Tickets range from 450$ general admission, 1000$ vip and so own . With one of the loudpunx nfts it offers vip to all theres shows for life , so if you went to two shows you already made your money back , another thing is you can also rent it out to friends or people so you can sell them the vip wrist band even if you was to sell it at 700$ each show you dont go to , thats just all profit for you , while you still have possession of the nft !!! And on top of that you can always sell the nft submitted by /u/Active_Gazelle_2471 [link] [comments]
- Minting personal databy /u/BudoftheBeat (NFT) on September 25, 2023 at 11:00 pm
I just had a thought. I have no idea how to go about this or what the actual laws are which is why I'm asking here. Is it possible to mint your own personal data? If so, would it be possible to sue companies for selling your personal data since you have the official NFT of your personal data? submitted by /u/BudoftheBeat [link] [comments]
- Ethereum avarage fees has hit a new 2023 low.by /u/phonebreaker8 (Cryptocurrency News & Discussion) on September 25, 2023 at 10:35 pm
submitted by /u/phonebreaker8 [link] [comments]
- Analyzing ADAby /u/_Beta-Male_ (Cryptocurrency News & Discussion) on September 25, 2023 at 10:03 pm
NOTE: Not a financial advice, just analyzing data. All of the data I have collected was from IntoTheBlock. As of today, ADA has a $ 8,598,092,384 market cap which puts it on #8 spot on CoinMarketCap. All time low is at $0.01735 while all time high is at $3.10 which makes a +16477% gain. Price through the years. Market cap through the years. There are in total 4,443 million addresses that hold ADA (we can't count all the cold wallet addresses, so the number is higher). But for the addresses that we can count here is the data: 175.05k Addresses which is 3.94% are in PROFITS 4.2m Addresses which is 94.52% are in a LOSS 68.45k Addresses which is 1.54% are at BREAK EVEN Pie chart of addresses in profits, loss and break even. On the bottom graph, you can see the percentage of accounts in profit and in loss over time in correlation with the price. Naturally, at the start, the majority were in profit, and the same held true during the bull run. However, as the bull market came to an end, the numbers quickly shifted, leaving us where we are now, with only 3.94% of accounts in profit. We can also see less spikes up to 100% than in other alts such as MATIC (bottom graph, added graph for comparison). Number of addresses in profits and loss through the years (ADA). Number of addresses in profits and loss through the years (MATIC). We can observe, that the number of accounts that have purchased ADA and still have it in their account, has been steadily increasing ever since the beginning of the bull run, and this trend continues even during the bear market. This may suggest that people are placing their hopes on ADA to perform well in the next bull market. (Please note that this is not a financial advice; I'm just analyzing the data.) Number of addresses with balance through the years. Continuing with a graph that shows how long has a token been held for on average. ADA has an average holding period of 10.5 months out of the 6.1 years the token has been in circulation, resulting in a ratio of 0.1438. This ratio appears relatively low when compared to other coins like MATIC, which boasts a ratio of 0.2444, and LINK, which has a ratio of 0.2131. (Note that a higher ratio indicates a longer average token holding period.) Average time token is held The following pie chart shows the concentration of Cardano. So, concentration is a helpful metric to estimate how decentralized/concentrated a crypto-asset is. In general, it is preferable for a crypto-asset to be held mostly by retail addresses as this points to a decentralized network with widespread adoption. Additionally, there are risks involved if a crypto-asset is highly concentrated among whales and investors addresses. We can see that ADA has really hit a very high number of retail volume and this is almost 69% (NICEEE), which is pretty impressive and it shows how decentralized should coins really be. ADA concentration of volume. As you can imagine, during the bear market, the number of Hodlers (addresses that have held the coin for 1+ year) has grown and has even overtaken the Cruisers (addresses that have held the coin for 1-12 months). This could also be interpreted as a sign that people are placing their hope in ADA for the next bull market. Number of Hodlers, Cruisers and Traders through the years. The next graph shows two categories: "All Time Highers," which are addresses with a balance that bought within 20% of the token's all-time high (ATH) price, and "All Time Lowers," which are addresses with a balance that bought within 20% of the token's all-time low (ATL) price. The latest data shows that there are 70k addresses that belong in the ATH category and 16,48k addresses that belong in the ATL category. Which is kind of a small gap compared to other coins. Other things look the same as in other coins; ATL peaked at the start and ATH peaked at bull run. Number of \"All Time Highers\" and \"All Time Lowers\" through the years. This is a table that show the distribution of the tokens: Distribution of the tokens. This is the end of my analysis hope you enjoyed and that it was somewhat useful. submitted by /u/_Beta-Male_ [link] [comments]
- What do people like most in the road map of NFT projects?by /u/Overnightgangsta (NFT) on September 25, 2023 at 9:45 pm
What do people prefer the most in utility NFTs? I want to make something unique and some thing people will love, not something generic. What are good daps to have for my NFT holders? Please let me know good ideas of what people love! submitted by /u/Overnightgangsta [link] [comments]
- Justin Sun May Be $2.4 Billion Short on Huobi’s User Funds, VC Saysby /u/Successful_Craft3076 (Cryptocurrency News & Discussion) on September 25, 2023 at 9:03 pm
Love the photo. Lol submitted by /u/Successful_Craft3076 [link] [comments]
- Why are brands rushing to secure the first NFT trademark registrations if NFTs are worthless? 🤔by /u/Oxfordcom (NFT) on September 25, 2023 at 3:41 pm
Source: https://open.substack.com/pub/niftysparks/p/nfts-worthless-collections-and-china-trademarks?r=1qvkyd&utm_medium=reddit&utm_campaign=nfts submitted by /u/Oxfordcom [link] [comments]
- Crypto Exchange Huobi Hacked for $7.9 Million.by /u/Tatakae69 (Cryptocurrency News & Discussion) on September 25, 2023 at 2:34 pm
submitted by /u/Tatakae69 [link] [comments]
- PayPal Can Freeze Your Crypto Assetsby /u/Chucub (Cryptocurrency News & Discussion) on September 25, 2023 at 2:30 pm
Even though Paypal’s new USD stablecoin has been deployed on the Ethereum blockchain, it does not mean it’s decentralized. Several people online have dug into the code of the coin’s smart contract and found some alarming things such as PayPal holding the ability to reverse transactions, freeze user assets, coins can be freely minted/ burned by the admin (aka, PayPal themselves). The new PayPal USD stablecoin has an “assetprotection” role which can wipe your balance in two transactions (first ‘freeze’, then ‘wipeFrozenAddress’ In smart contract security, this is called a “centralization attack vector” And based on the PayPal USD terms of service, you have to access the stablecoin through your PayPal account— which means it is full KYC and your held tokens are UNDER PayPal’s custody. Yes, that means they own your coins. Now, it is common knowledge that other stablecoins such as USDC and USDT, have similar mechanics— except we all know how PayPal can be. They are notorious for freezing user assets in the past, seizing millions of dollars and have faced class action lawsuits for such. Nobody in the defi world should be taking Paypal’s stablecoin seriously. You can’t even use it as a trading pair or provide liquidity with it. submitted by /u/Chucub [link] [comments]
- New Article: Grey NFTs: Unpacking the murky world of ‘kind of’ Licensed NFTsby /u/nonfungibletalkin (NFT) on September 25, 2023 at 2:22 pm
New Article on Medium. https://medium.com/@NFtalking/grey-nfts-unpacking-the-murky-world-of-kind-of-licensed-nfts-716031a56660 submitted by /u/nonfungibletalkin [link] [comments]
- What's the best way to make a million USD in a year in the blockchains?by /u/X_Opinion7099 (NFT) on September 25, 2023 at 11:35 am
What's the best way to make a million USD in a year in the blockchains? Please give me your ideas submitted by /u/X_Opinion7099 [link] [comments]
- Weekly NFT discussion. What are you looking forward to this week?by /u/Ivo_ChainNET (NFT) on September 25, 2023 at 7:03 am
Share the NFT mints, collections, and events that you're excited about! submitted by /u/Ivo_ChainNET [link] [comments]
- Is it worth keep trying?by /u/Keevotos-Ark (NFT) on September 24, 2023 at 5:51 pm
Heeey everybody, we just started a new NFT collection. If you don't mind check it out and tell us your impressions. Do we stand a chance in all these nice collections? We'd appreciate it a lot. Huge thanks and love to y'all submitted by /u/Keevotos-Ark [link] [comments]
- Digital Real Estate Investmentby /u/BrudexCo (NFT) on September 24, 2023 at 4:39 pm
Hello NFT community, I am civil engineer from South Eastern Europe where real estate has been blooming over the last few years. Buliding houses and buildings with apartments has showed to be excellent investment, especially in recent times. Reason why I’m writing in this sub is that I was wondering about idea of jointly investing in real estate. Not many people have funds nor the experties to invest in such big projects and if investment could be divided in smaller fractions it would be more accessible to small investors. Mentioned investment could be tokenized and each investor would get percentage of it accordingly to starting part of whole investment. Rate of return on investment would be same for every investors. What do you guys think about this idea? Are there any tokenized real estate projects already? Would people actually be up for it? submitted by /u/BrudexCo [link] [comments]
- What is the quality tools for launching an NFT collection ?by /u/bobdylan_In_Country (NFT) on September 24, 2023 at 1:37 pm
Just want to try to launch an NFT collection without any code ability. Is there good tools to use ?（Think it should have a official website for mintting ） submitted by /u/bobdylan_In_Country [link] [comments]
- My Family & friends hate NFTs(crypto)by /u/Valdeztron (NFT) on September 24, 2023 at 12:40 am
It’s been a wild ride for me since 2014 from buying and selling to starting crypto app. A lot of ups and downs. The ride can be difficult at times when most of your family and friends want to push you to focus on another industry because they have bad feeling about the space. I’ve even had friends that even think I’m a scammer because I’m involved in crypto. Now that the market is down. They tell me “it’s over”. I share this because maybe someone out there might be in same situation. You’re not alone. I believe the next bull run the industry will be more mainstream and accepted since Blackrock and others are getting involved. The stories from the previous post were interesting. submitted by /u/Valdeztron [link] [comments]
- NFT 2023 Marketing Guideby /u/Valdeztron (NFT) on September 23, 2023 at 7:54 pm
Recently, I’ve seen several post discussing the struggles of promoting a cool collection or product. I even was told they get called scams on social media. How can you by pass this type of pushback and the trolls!?!? show your face and pitch your product on social media via video: tiktok, Snapchat, YouTube shorts. Right now, YouTube shorts is very viral. Focus on niches: youll build a tribe and you won’t need to worry about the trolls. Tell your story or message. People love to hear the truth and no gimmicks. They don’t want be sold to. What problems are you solving ?! It need to be clear. If you’re just building a collection without having valuable mission. You will fade. Old marketing strategies die out. Pushing people to your groups may not be as effective. Choose exchanges that pride on discovery. Don’t just get on an exchange because is popular. Don’t get lost in the open- sea 🌊. I ask community to add to the list. submitted by /u/Valdeztron [link] [comments]
- Where do you go to find out about new/emerging NFT projects?by /u/CarDry8823 (NFT) on September 23, 2023 at 4:52 pm
Hi everyone, I’m looking for new NFT projects to invest in and, while I’ve found some gems, I’m always interested in finding more (especially if I can get the opportunity to get one early!). Where do you all find out about new NFT projects? submitted by /u/CarDry8823 [link] [comments]
- We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything.by /u/coindesk (Cryptocurrency News & Discussion) on September 23, 2023 at 4:11 pm
Hey r/CryptoCurrency, Nikhilesh De and Ian Allison from CoinDesk here. Last November, Ian broke an explosive story raising questions about the financial underpinnings of Sam Bankman-Fried’s trading firm, Alameda Research – and, by extension, the safety of his better-known crypto exchange FTX. Nine days after Ian’s story, SBF’s companies were in bankruptcy court – a collapse so big (FTX had been valued at $32 billion earlier in 2022) and so fast it has little or no precedent. The story revealed that Alameda was on potentially shaky footing because of its deep financial exposure to the FTT token issued by FTX. FTT made up nearly half of the company’s $14.6 billion of assets. That was a surprising degree of financial entanglement for two supposedly separate companies, and also a pretty speculative asset to stash much of a trading firm’s assets into. If sentiment around FTX and SBF were to tank, the price of FTT could fall, dragging Alameda down with it. And that’s basically what happened. Four days after Ian’s story came out, Binance CEO Changpeng “CZ” Zhao tweeted that "due to recent revelations," his exchange would sell its hefty FTT holdings. That quickly drove down the price of FTT, putting SBF’s companies into a tailspin. SBF was forced two days later to seek a bailout from Binance. But that proposed takeover fell apart in a day, something another scoop by Ian revealed was likely to happen hours before it was made official. Then, on Nov. 11, SBF’s companies filed for bankruptcy protection. Ian’s initial scoop on the balance sheet was widely cited as the catalyst for the collapse. He and former colleague Tracy Wang went on to win a George Polk Award, one of the top journalism honors, for their FTX coverage. Our FTX reporting also won a New York Press Club award and is a finalist for the prestigious Loeb award. We’ve been following SBF’s every move since then, from his unsuccessful bid for release from jail to his push for better laptop access. His trial in Manhattan begins Oct. 3. Here’s our preview. CoinDesk’s news team, led by Nik, will be in the courtroom every day of the trial. This is our story. Ask us anything. -- We'll join you for an upcoming AMA on Sept. 26, 12 p.m. ET. Feel free to comment with your questions beforehand. Meanwhile, subscribe to our newsletter: https://www.coindesk.com/newsletters/the-sbf-trial-newsletter/ https://preview.redd.it/jube8qoy31qb1.png?width=1200&format=png&auto=webp&s=00553ae7e8578e0f77ea34c386a87cfbeb631f1e submitted by /u/coindesk [link] [comments]
- Advices, how to promotionby /u/MetaMuseX (NFT) on September 23, 2023 at 8:28 am
"Good morning, I'm seeking advice. I entered the world of NFTs through OpenSea, but it seems almost impossible for people to discover my collections there. I'm trying to navigate social media, but it's not easy. Any tips on how to promote my project without breaking the bank?" Thanks submitted by /u/MetaMuseX [link] [comments]
- Manifold Contract creation and adding Tokenby /u/paloolabotanica (NFT) on September 22, 2023 at 7:11 pm
Hi, VERY VERY NEW to the NFT community as you can see from the question...I recently created an enjin wallet. I connected Manifold and Foundation to the wallet. When I went to create a collection in Manifold I get this error: "There was a problem with your deployment, please check your internet connection and refresh this page to try again. If the problem persists, please report this problem on our forum at https://forum.manifold.xyz/ . Error: rejected" Any thoughts? I also don't know how to add tokens to my wallet... P. submitted by /u/paloolabotanica [link] [comments]
- Good marketplace for 1/1 piecesby /u/Niftbit (NFT) on September 22, 2023 at 12:36 pm
Hi everyone, I made a 1/1 nft piece, it took a long time, im also quite new to the scene, I can’t post an image but if allowed I’ll link it in the comments, I’m looking for a good place because I want the piece to go to someone who loves the message behind it. It took me a very long time to make and animate. Edit: by link I mean just the image of it. Not anything promotional. Mods is this allowed? submitted by /u/Niftbit [link] [comments]
- New NFT build being plannedby /u/Homeless_72 (NFT) on September 22, 2023 at 12:08 pm
Is there a best group to contact if I want to drop a collection? Please give any suggestions submitted by /u/Homeless_72 [link] [comments]
- How NFTs and Crypto Can Help Improve Learning Experiencesby /u/Rich_Vacation_8372 (NFT) on September 21, 2023 at 4:17 pm
While reading this article about gamification I realised that crypto and NFTs are already changing a lot of experiences, both offline and online, but they have a special role to play in learning. The article highlights a few examples but even without them, I personally feel like people are more enticed to learn about a subject if ther is a small reward at the end. It could be a few digital coins or an NFT but that small gesture will change the way we think and feel about learning. It’s nice to have a digital stamp for every milestone you achieve in life, at least that is how it seems to me. Not only do you get a digital stamp, it also sits in your wallet and could be stored forever if you want. Is it just me, or do you guys also think that learning is about to become a lot more fun and rewarding? submitted by /u/Rich_Vacation_8372 [link] [comments]