Cryptocurrency & Blockchain News and Discussions

User avatar
raklian
Posts: 1747
Joined: Sun May 16, 2021 4:46 pm
Location: North Carolina

Re: Cryptocurrency

Post by raklian »

Nanotechandmorefuture wrote: Mon Nov 08, 2021 1:23 pm I'm not sure if this is the right topic area so my apologies. Is anyone looking into new cryptos for future viability to profit like Bitcoin? I love the fact this forum called Bitcoin way back.

I downloaded Pi and was wondering if anyone on here has Pi too. In my opinion it looks like something that could be useful though it requires an invite code.
I suggest you look into Safemoon. It is currently on the Binance Smart Chain (BSC).

They just launched a wallet called Safemoon Wallet. While they're still ironing out issues with it, it lets you buy Safemoon and other tokens using the Swap feature on it. Of course, you'll have to buy the blockchain coin first (BSC) before swapping it to acquire Safemoon and other tokens. A cool feature of this Wallet is that it lets you track your reflections in real time. Reflections are your static rewards in Safemoon from the tax other holders pay when they buy or sell their Safemoon.

Soon, they're going to consolidate the supply by 1000:1. Meaning, if you have 1 billion Safemoon, you'll have 1 million after consolidation. The reason for this is to pair Safemoon with more well-known coins such as Bitcoin or USDT for the Safemoon Exchange they will launch in December. To pair with these coins for trading in the exchange, you need a certain number of digits in the price to make it work.

The Safemoon Exchange will be the first of its kind in implementing cryptonomics for all tokens/coins listed on it. It means if you buy Bitcoin there and hold it, you'll get reflections in Bitcoin when other people buy or sell their Bitcoin, steadily increasing your Bitcoin holding without needing to buy more yourself. That's the power of cryptonomics and it's genius. Safemoon will be the gas fee for those transactions on the exchange, thus increasing volume for Safemoon which leads to more reflections for the Safemoon holders.

Around the same time or shortly after the launch of Safemoon Exchange, they're releasing the Safemoon blockchain on which smart contracts that support Safemoon-stylized tokenomics can be created. Hint: it is designed to support the Internet of Things (IoT) protocols.

Then, there's the The Gambia project. It's sort of Safemoon's raison d'etre. This is where the IoT portion of the Safemoon blockchain comes in. Safemoon is creating an ecosystem in the African nation, The Gambia, where renewable energy from wind turbines and solar is used to power the blockchain and to provide a means for the Gambian people there to utilize this renewable energy without a middleman to determine market prices and they'll pay for it in cryptocurrency (doesn't have to be just Safemoon). There is a lot more to this but you get the idea.

I suspect The Gambia is just the beginning. The Safemoon development team often talks about Dark Moon. It's basically an assortment of black projects that haven't been brought out into the light, but they've repeated the point all of them were designed with climate change in mind.

Safemoon is basically a Climate Change cryptocurrency.

P.S. - Ignore people or articles that call this a ponzi scheme. They're coming from a position of ignorance which isn't necessarily their fault. I will still tell you to do your own research and come to conclusions that only you can draw from. Trust your intuition.

Safemoon has a Discord community if you want to know more about it. I'm not going to type in the address in here. Just google "Safemoon discord" and it'll take you there very easily.

It also has Twitter and Reddit accounts you can look up.
To know is essentially the same as not knowing. The only thing that occurs is the rearrangement of atoms in your brain.
Nanotechandmorefuture
Posts: 478
Joined: Fri Sep 17, 2021 6:15 pm
Location: At the moment Miami, FL

Re: Cryptocurrency

Post by Nanotechandmorefuture »

raklian wrote: Mon Nov 08, 2021 3:52 pm
Nanotechandmorefuture wrote: Mon Nov 08, 2021 1:23 pm I'm not sure if this is the right topic area so my apologies. Is anyone looking into new cryptos for future viability to profit like Bitcoin? I love the fact this forum called Bitcoin way back.

I downloaded Pi and was wondering if anyone on here has Pi too. In my opinion it looks like something that could be useful though it requires an invite code.
I suggest you look into Safemoon. It is currently on the Binance Smart Chain (BSC).

They just launched a wallet called Safemoon Wallet. While they're still ironing out issues with it, it lets you buy Safemoon and other tokens using the Swap feature on it. Of course, you'll have to buy the blockchain coin first (BSC) before swapping it to acquire Safemoon and other tokens. A cool feature of this Wallet is that it lets you track your reflections in real time. Reflections are your static rewards in Safemoon from the tax other holders pay when they buy or sell their Safemoon.

Soon, they're going to consolidate the supply by 1000:1. Meaning, if you have 1 billion Safemoon, you'll have 1 million after consolidation. The reason for this is to pair Safemoon with more well-known coins such as Bitcoin or USDT for the Safemoon Exchange they will launch in December. To pair with these coins for trading in the exchange, you need a certain number of digits in the price to make it work.

The Safemoon Exchange will be the first of its kind in implementing cryptonomics for all tokens/coins listed on it. It means if you buy Bitcoin there and hold it, you'll get reflections in Bitcoin when other people buy or sell their Bitcoin, steadily increasing your Bitcoin holding without needing to buy more yourself. That's the power of cryptonomics and it's genius. Safemoon will be the gas fee for those transactions on the exchange, thus increasing volume for Safemoon which leads to more reflections for the Safemoon holders.

Around the same time or shortly after the launch of Safemoon Exchange, they're releasing the Safemoon blockchain on which smart contracts that support Safemoon-stylized tokenomics can be created. Hint: it is designed to support the Internet of Things (IoT) protocols.

Then, there's the The Gambia project. It's sort of Safemoon's raison d'etre. This is where the IoT portion of the Safemoon blockchain comes in. Safemoon is creating an ecosystem in the African nation, The Gambia, where renewable energy from wind turbines and solar is used to power the blockchain and to provide a means for the Gambian people there to utilize this renewable energy without a middleman to determine market prices and they'll pay for it in cryptocurrency (doesn't have to be just Safemoon). There is a lot more to this but you get the idea.

I suspect The Gambia is just the beginning. The Safemoon development team often talks about Dark Moon. It's basically an assortment of black projects that haven't been brought out into the light, but they've repeated the point all of them were designed with climate change in mind.

Safemoon is basically a Climate Change cryptocurrency.

P.S. - Ignore people or articles that call this a ponzi scheme. They're coming from a position of ignorance which isn't necessarily their fault. I will still tell you to do your own research and come to conclusions that only you can draw from. Trust your intuition.

Safemoon has a Discord community if you want to know more about it. I'm not going to type in the address in here. Just google "Safemoon discord" and it'll take you there very easily.

It also has Twitter and Reddit accounts you can look up.
Thank you! I appreciate your help. The Bitcoin story on here makes me chase the dragon to get in on a new crypto that will have future growth like Bitcoin had. Thankfully this time around crypto appears to be far more secure than the horror stories I heard about crypto in 2015-2016 or so. Yes I am aware I should have invested then but my mindset was completely different before 2018.

Finally a chance to do things right! :D
Nanotechandmorefuture
Posts: 478
Joined: Fri Sep 17, 2021 6:15 pm
Location: At the moment Miami, FL

Re: Cryptocurrency & Blockchain News and Discussions

Post by Nanotechandmorefuture »

All this talk about Crypto has me thinking... If Crypto becomes very integrated in our lives how would you be able to use it for investments like for example E Trade? I'm sure you could say "the crypto you own" but as we see with the wild ones like Dogecoin and all it fluctuates. Would investment companies turn Crypto into a more common digital currency on their servers or maintain it as the Crypto you own invested into your desired stock?

To note: Currently working on getting a new job and planning to study again in college so I'm focusing on the future benefits of Crypto and investing when I am able to do so. I'm currently too broke for any serious Crypto investments so I was just curious about this since I have read up some stuff on CNBC and all but do not know everything about the Finance or FinTech sector.
User avatar
caltrek
Posts: 6509
Joined: Mon May 17, 2021 1:17 pm

Re: Cryptocurrency & Blockchain News and Discussions

Post by caltrek »

The Ticking Bomb of Crypto Fascism
by Hamilton Nolan
January 4, 2022

https://inthesetimes.com/article/the-ti ... to-fascism

Extract:
(In These Times) Crypto is now worth trillions of dollars. All of that value is premised not on some fundamental utility, but rather on the idea that there will always be someone else who will come along and pay you more than you spent on your crypto. This is going to end badly.

They are called crypto “currencies,” but clearly they are not currencies. Their value fluctuates far too much to be a useful medium of exchange. So what are they? They are collectibles, pure speculative objects with zero intrinsic value. If you buy a stock, you own a portion of a business; if you buy a house, even if the price goes down, you still have a house. If you buy a Bitcoin, you have nothing but the title to a piece of computer code that can do absolutely nothing for you except to the extent that someone else can be induced to pay you money for it. In the midst of a mania, as we are now in, the price of these imaginary assets tends to rise, because the collective public sentiment is that the prices will rise. When that sentiment changes — whether due to fear, or some event that causes crypto holders to need to cash out — the price will plummet. This basic dynamic has been demonstrated a zillion times in financial history…

Crypto…is a poor replacement for the American dream. A functional nation would end gerrymandering, pass campaign finance reform, end the filibuster, abolish the undemocratic U.S. Senate, tax great wealth, institute public healthcare and build a social safety net to ensure that no one in our very wealthy country slipped all the way through the financial cracks of life and was ruined. But that’s not the American way. The American way is to cheer on the few lucky ultra-rich people, and fete them as heroes, and look for a way to emulate them, although such a thing is mathematically impossible. …Crypto is just a modern lottery ticket.

The crash of crypto is bound to happen for the same reason that all Ponzi schemes eventually crumble: There is not an infinite supply of new people willing to pay ever-increasing prices for the stuff that you currently own.
Don't mourn, organize.

-Joe Hill
User avatar
Yuli Ban
Posts: 4631
Joined: Sun May 16, 2021 4:44 pm

Re: Cryptocurrency & Blockchain News and Discussions

Post by Yuli Ban »

Bitcoin took a hit on Thursday after the internet in Kazakhstan was shut down amid intensifying violence.

The central Asian nation in recent days has been rocked by violent clashes between protesters, police and the army. The protests began in the west of the country over the weekend, after a sharp rise in fuel crisis, and quickly spread through cities across the nation.

The internet was shut down nationwide on Wednesday. And though the intent appeared to be to disrupt the protesters’ communications, the effects of the blackout have spread further.

Kazakhstan is a power player in the bitcoin world. Last year, the nation became the world’s second-largest center for bitcoin mining after the United States, according to the Cambridge Centre for Alternative Finance, after China, a major hub, clamped down on crypto mining activity. As of August, Kazakhstan was hosting 18% of global bitcoin mining, according to Fortune.
And remember my friend, future events such as these will affect you in the future
User avatar
caltrek
Posts: 6509
Joined: Mon May 17, 2021 1:17 pm

Re: Cryptocurrency & Blockchain News and Discussions

Post by caltrek »

Regulating Crypto Could Create American Super Apps
by David Donovan
January 7, 2022

https://techcrunch.com/2022/01/07/regul ... uper-apps/

Introduction:
(TechCrunch) Much of Chinese society has come to depend on so-called super apps like WeChat to do multiple tasks, from making a medical appointment to hailing a taxi to getting a loan, all on one platform.

But such one-stop shops have not taken off in the United States. Now, the time may finally be ripe — and the best contenders for super apps come from the fintech world, especially those platforms dedicated to cryptocurrency.

Cryptocurrency is quickly growing in popularity amid sky-high equity prices, record-low interest rates and fear of inflation on the horizon, and they could, perhaps, gain more legitimacy if the U.S. government decides to fully regulate them, a topic Congress is currently exploring.

Dedicated crypto platforms like Coinbase or even Paypal, Venmo and Stripe, which recently added abilities to use crypto for payments, could evolve into the U.S. versions of super apps, assuming crypto issuers can work with regulators to find a middle ground between protecting the consumer and creating new financial and investment opportunities. If consumers see crypto as secure and legitimate — and easy to use — it could become the base of super apps.
Conclusion:
If crypto remains an unregulated gray zone, and its platforms remain isolated from the rest of economic and daily life, rather than evolve into super apps, the United States will miss the opportunity to build a new and innovative mobile- and digital-first financial ecosystem.
Don't mourn, organize.

-Joe Hill
User avatar
wjfox
Site Admin
Posts: 8733
Joined: Sat May 15, 2021 6:09 pm
Location: London, UK
Contact:

Re: Cryptocurrency & Blockchain News and Discussions

Post by wjfox »

Comparing the Carbon Footprint of Gold and Bitcoin

https://www.visualcapitalist.com/compar ... d-bitcoin/

:o
User avatar
caltrek
Posts: 6509
Joined: Mon May 17, 2021 1:17 pm

Re: Cryptocurrency & Blockchain News and Discussions

Post by caltrek »

A Hard Raid is Coming for Britain's Crypto Boom
January 19, 2022

https://techcrunch.com/2022/01/19/a-har ... ypto-boom/

Introduction:
(TechCrunch) The UK’s ad-fuelled boom in crypto trading looks to be headed for major speed restrictions: The country’s financial watchdog said it will beef up rules around marketing of crypto assets and could even put limits on who can invest, following government confirmation yesterday that it will extend the regulator’s remit to cover crypto.

In recent years, ads for crypto have been plastered over billboards across the UK capital — fuelling a boom in trading that has led to a few slaps from the advertising standards watchdog.

In December, the Advertising Standards Authority banned seven crypto ads for “irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment” — saying it hoped to produce new guidance on crypto advertising.

But the financial watchdog’s intervention looks set to put a more significant dampener on the UK crypto bubble.

In an announcement trailing the proposed changes, the Financial Conduct Authority (FCA) said it’s acting in response to concerns about the “ease and speed” that people can make high risk investments — in line with a Consumer Investment Strategy it published last year.
Don't mourn, organize.

-Joe Hill
Nanotechandmorefuture
Posts: 478
Joined: Fri Sep 17, 2021 6:15 pm
Location: At the moment Miami, FL

Re: Cryptocurrency & Blockchain News and Discussions

Post by Nanotechandmorefuture »

Yuli Ban wrote: Fri Jan 07, 2022 5:28 pm
Bitcoin took a hit on Thursday after the internet in Kazakhstan was shut down amid intensifying violence.

The central Asian nation in recent days has been rocked by violent clashes between protesters, police and the army. The protests began in the west of the country over the weekend, after a sharp rise in fuel crisis, and quickly spread through cities across the nation.

The internet was shut down nationwide on Wednesday. And though the intent appeared to be to disrupt the protesters’ communications, the effects of the blackout have spread further.

Kazakhstan is a power player in the bitcoin world. Last year, the nation became the world’s second-largest center for bitcoin mining after the United States, according to the Cambridge Centre for Alternative Finance, after China, a major hub, clamped down on crypto mining activity. As of August, Kazakhstan was hosting 18% of global bitcoin mining, according to Fortune.
This is why one hopes the internet will be secure in the future if everything will be digital. No wonder a bit of a civil war was occurring! 18% of global bitcoin mining and it shuts down during a crisis? That is a shock that is hard to overcome.
User avatar
wjfox
Site Admin
Posts: 8733
Joined: Sat May 15, 2021 6:09 pm
Location: London, UK
Contact:

Re: Cryptocurrency & Blockchain News and Discussions

Post by wjfox »

Crypto Crash Erases More Than $1 Trillion in Market Value

January 21, 2022, 5:19 PM UTC Updated on January 21, 2022, 11:11 PM UTC

For Bitcoin, there’s only been one constant recently: decline after decline after decline. And the superlatives have piled up really quickly.

With the Federal Reserve intending to withdraw stimulus from the market, riskier assets the world over have suffered. Bitcoin, the largest digital asset, lost more than 12% Friday and dropped below $36,000 to its lowest level since July. Since its peak in November, it has lost over 45% of its value. Other digital currencies have suffered just as much, if not more, with Ether and meme coins mired in similar drawdowns.

Bitcoin’s decline since that November high has wiped out more than $600 billion in market value, and over $1 trillion has been lost from the aggregate crypto market. While there have been much larger percentage drawdowns for both Bitcoin and the aggregate market, this marks the second-largest ever decline in dollar terms for both, according to Bespoke Investment Group.

“It gives an idea of the scale of value destruction that percentage declines can mask,” wrote Bespoke analysts in a note. “Crypto is, of course, vulnerable to these sorts of selloffs given its naturally higher volatility historically, but given how large market caps have gotten, the volatility is worth thinking about both in raw dollar terms as well as in percentage terms.”

https://www.bloomberg.com/news/articles ... rket-value

Unpaywalled: https://archive.is/B10Sq
Post Reply