CryptocurrencyScripts

Tag: cryptocurrency

2022 Bear market: The ‘Big players’ ruined the game.

“Your last chance to buy bitcoin at $30K” may sound like a failed prediction, but on a second and deeper thought, your favorite influencer and ‘trader’ might be right. Judging from recent events, bitcoin at 30k is a huge target and is growing further every day. “Plan B” might have gotten his $100,000 bitcoin prediction wrong, but he’ll have more issues if he actually followed his own analysis and bought through them. Most influencers are too clever to follow their own predictions anyways. No jibe about his brilliance anyways, his analyses are still reasonable. Unfortunately, the crypto market hardly follows ‘fundamentals’

Bitcoin was close to some historic values. $69,000 would have been an orgasmic figure, things like that don’t happen too often…naturally. A slow and rather disappointing regression followed; hitting lower points and breaking downward resistances, bitcoin’s off-brake downtrend pulled the rest of the crypto market into a great depression. The bull market looked all synthetic; the market always looked programmed, but this time it was close to obvious. A total market capitalization of $5 trillion was realistic. If bitcoin reached the $100,000 target, that would have been easily possible…

Everyone is a hero in a bull market. Billion-dollar meme coin projects, tons of high-profile airdrops, invincible traders, and ‘rich folks’. The buzz was felt worldwide; Peter Schiff tried to warn everyone and squeeze in his gold superiority arguments along the line. Wasn’t a really good time for him; can’t say the same about the current situation.

Under the flourishing market, a number of projects rose to absolute fame and reveled in bitcoin’s glory to create wealth…and a little bit of utility. Corny developers had their feast and quickly filled the space with tons of projects built in the shortest time by a team of rookies who joined the space when Elon Musk was riding his doge to the moon. Heard he’s got a court case to attend to in that respect. Well, the dogefather went from moon to court, not a bad move…at all. I’m certain he has enough wits to pull that one off, easily.

Elon’s SNL session marked the absolute top for bitcoin and dogeCoin. I’m forever skeptical about the “to the moon” slogan. Things gradually went from bright to dim and the bandwagon of mainstream artists claiming to have adopted blockchain technology quickly began to disperse. Lil Yachty and Soulja Boy made more from their shills than they ever made from jumping in and out of the booth. Making money has never been so easy. ‘Lil Boat’ never bothered to release an album since then. I wouldn’t blame him though, his last one was forgotten too quickly and he certainly has more people listening to his shills than his mumble raps.

Do Kwon at the peak of his wealth might be worth a few billion, but his ego was worth many times that figure. It’s logical anyways, USDC was meant to die by his hands; the reverse was the case but he did put up a good fight. Unfortunately, LUNA investors took all the hit while he was left to worry about a strange knock on his door. The Luna2.0 incentive must have saved him from more strange knocks. Airdrop recipients who managed to sell at launch probably made some of their money back. Can’t say the same about those who held on. The new Luna is 90% down already, and the old Luna…you’ll need a stick to count the zeros. All good, it was fun while it lasted.

A few friends were comfortably living off the returns they got on the bitcoin they locked on Celsius’ lending platform. The temperature quickly got too hot and it was all close to melting. Don’t know the exact degree but somewhere above the boiling point of water. Celsius claimed to be decentralized, but just like my bank, users’ funds were locked when the market conditions became ‘unfavorable’. Alright, they offered more returns than my bank anyways, so I’d still stick to the juicier offer, even if it means risking being liquidated along with the rest of the market.

3AC? A very long story I’d love to skip…

While traders’ and investors’ greed rose to its highest levels; developers’ and project teams’ egos and arrogance also grew to similar levels. You could get the coldest replies for suggesting a fix for some discovered bugs. Who cares about bugs and fixes when prices are going haywire and investors are rugged slowly and swiftly? The big players in the space basked in the health market to fill up their pockets and cared less about the feasibility of their solutions and the sustainability of their strategies.

The real argument is if they had any strategy at all. LUNA and UST’s collapse probably clouded a lot of events, but a few other stablecoins got pretty unstable. Justin Sun mastered the act of following the trend; USDD was basically born in an attempt to bring the Luna sort of price growth to the Tron ecosystem. USDD was in no way an improvement from UST. Just another copy facing the same issue. In Mr. Sun’s case, $600 million is an easier war to fight. USDD stays de-pegged for a number of days now. His Excellency will ultimately do something when his stablecoin gets to the same price as Cardano.

It’s another situation where I find enough reason to justify bitcoin maximalists’ stand on altcoins and any other thing apart from bitcoin. The orange coin’s tragic fall to $17,000 is a result of these irregularities from ‘shitcoin’ projects. that name has never been more proper. Microstrategy will have to bear their losses for now while Elon Musk gets himself a lawyer, there are a few hundred billion on the line. The rest of the space will have to hope we don’t fall into a proper “great depression”

25/12/2022
Newbie to “crypto rich”: 4 tips for your journey.

You know those ‘zero to crypto rich’ stories? Yeah, they are very common in the crypto space. A couple of them are obviously bloated and there’s more to the story. Growing your portfolio is not rocket science anyways and through clever strategies, one can go from zero to ‘crypto rich’. How fast this happens is, however, dependent on a number of factors without one point of control.

Whether you’re here for the technology or for the ‘riches’; one thing for sure is; you’ll surely be gladdened by an improved position in the few projects you’re invested in. Regardless of how much you wish to diversify your portfolio, missing out on tons of brilliant projects is inevitable. Well, you only need to get it right with your few investments. Over-diversification hasn’t really worked anyways.

First, a start, then improvements and growth. The first step is to make your move into the crypto space. You’ll be amazed by the number of enticing projects that greets you. Depending on factors personal to you, you can only invest in just a few of them.

And do you really need capital to start? If you consider time as an important resource, then yes. Else, time and dedication are all it takes to make a head start.

Financially buoyant investors can simply go ahead to seed cash on any crypto that impresses them enough; otherwise, here are four tips to grow your cryptocurrency portfolio with little or no capital.

Invest your skill and knowledge.

Unlike more other investment spheres, the crypto space is home to unimaginable opportunities. Like a world of its own, there’s room for almost anything and anyone. One way to hasten your growth is to get involved. Putting your skills to work can avail you of opportunities to earn even more cryptocurrencies. From crypto-earning blogging platforms like hive, steem, and publish0x to freelancing and full-time opportunities. It’s a whole new zone, you should explore and improve your positions at the same time.

Airdrops can be life-changing.

Apart from the infamous lucrative DAO airdrops, cryptocurrency airdrops might seem uninteresting to most. $20 worth of tokens as a reward for performing a basket of social activities. Before airdrops became ‘free’ and instantly life-changing, this was the state of things. But this kind of airdrop can still be worthwhile regardless. The majority of them fail to make it out, but in some cases, they grow to very profitable heights. Participating in ‘promising’ airdrops is something you should consider giving a try.

Embrace passive income opportunities.

Leaving your tokens in your wallet is a safe practice, but for someone looking to grow their stakes, this, in fact, defeats the goal. Most cryptocurrency projects give holders a chance to benefit from the emissions and grow their stash regardless of the price. Staking programs and liquidity mining are popular passive income opportunities in cryptocurrency and DeFi. At least one of these is worth a try. Decide which passive income opportunity is best suited for you and put your investments to work. Cryptocurrency lending platforms are also good passive income opportunities.

Preserve your capital.

Risk management is also an essential skill. Cryptocurrency prices are prone to rapid fluctuations, accidents are common too. Ensuring that you don’t run into grave losses is important. As a micro investor with a ‘small bag’, your risk threshold is very little and any tangible loss is a huge setback. Try and preserve your profit and be slow to take uncalculated risks.

Your route to cryptocurrency wealth will be well simplified by following these pretty easy tips. Human behavior is somewhat erratic and cryptocurrency itself is hardly predictable, varying conditions might make it hard to adhere to some of these. Most importantly, always do your research.

25/12/2022
Admit it; you’re doing crypto the wrong way!

Like a merchant, you’ve repeatedly bought and sold a number of cryptocurrencies. It’s fascinating, digital assets have created a space of equal access to objects of financial improvement. Regardless of your social caste and financial hierarchy, there is only a little barrier between you and your next cryptocurrency purchase…or sale. Millions have trooped in and in only a decade, the number of cryptocurrency investors has grown as fast as bitcoin’s price. In the right sense, it’s a bit faster.

Buzzwords apart, cryptocurrency and blockchain are both impressive stuff. The solutions and how everything is structured are welcoming. Well, crypto Twitter can be toxic but isn’t it the same with social media as a whole?

You’ve been fortunate enough and your net cryptocurrency investment has been greatly profitable for you. Congratulations, if there’s anything the past month has thought us, it’s that making profits in crypto isn’t as easy as it seems.

As long as you make profits, the conviction is that you’re doing it right. That’s exactly how it looks. If it’s the other way around; you feel you’re not getting it right, in short term. Investors who have mastered the art of ‘flipping’ can relate to swinging profits for profits…sometimes.
But if you can relate to any of these, then you are doing crypto wrongly. Regardless if you’re in profits or not.

Doing any of these is in fact the wrong way:

Fear of missing out [FOMO]

So, you just heard that this project is about to announce a ‘huge’ partnership; maybe they already did. Price is going haywire and the Twitter thread is going in the same direction. You’re scared, scared to miss out on the next 1000x. you’re not alone, we are all in this together.

The most ridiculous cryptocurrency price rages are fueled by investors jumping in with little or no resistance. The DYOR rule is quickly forgotten and the dumb money keeps flowing in. sometimes this works. Other times, the dumb money becomes exit liquidity for earlier investors, and bag holders are made. Well; someone needs to take the shot, “scared money makes no money” anyways.

Buy high, sell low.

Alright, you just aped in. the Fear of missing out won. Now you’re sitting on a bag of a token whose price keeps dropping. Sometimes the price is only stagnant and it’s easy to get impatient when those long green candles aren’t coming. What’s the move? Time to move on? I guess so; unto the next ‘gem’. This move is common and sometimes could save your investment, other times…well, the bloodbath continues.

Cryptocurrency investments require well-thought patience and deliberation. Good research should also influence your decision to move on and test different water.

Fear of getting stuck [FOGS]

Pretty much like the above; you simply don’t want to be the last holder of this token. The charts aren’t looking great and most importantly, the community isn’t looking impressed anymore. The most anticipated move is more dumps. Price is already down, you’re probably in loss or reduced profits. Without due research, holding on to your bags doesn’t feel like the right thing to do. Cryptocurrency is ‘cruel’ and getting stuck is a very possible situation. Oh well, if your fears win, you take the dump otherwise, bagholding will continue. Whichever one, you’re probably not wrong.

Living on delusions

For some memecoins, a $50 purchase gets you millions or even billions of tokens. For some investors, this is a sure bet to the millions. If the token ever hits a dollar, you’ll be on the same list as Jeff Greene. Delusional, a popular hopium. For a project with over a trillion tokens, reaching one-tenth of a cent is a face-melting move. As face melting as that of dogecoin and Shiba Inu. Well, many Shiba Inu holders are waiting on the dollar mark to cash in on their millions.

It’s risky to use the word ‘impossible’ in crypto but some outrageous expectations are simply not thoughtful and wrong. Who doesn’t wish to turn 50 into a million? If $8,000 could grow into over $5 billion, then anything can happen. But accepting reality is more relaxing than living in delusions.

Admit it, you can relate to at least one of the above. Fortunately, investing in cryptocurrency doesn’t have any known formulae. The only thing that exists are tactics that work most of the time. In the real sense, even the cleverest strategies could fail and the dumbest ones could end in mind-blowing success.

25/12/2022
Bear market: A real test.

You saw those red candles, right? It’s the bear market and they could get ugly, very ugly and this is the actual time they get too bad. 2021 was the proof that investing in cryptocurrency can be life-changing, 2022 is otherwise. Anyways it isn’t actually proof that investing in cryptocurrency could be life spoiling… well I don’t know how correct it is to say that, but the obvious fact is that this is a trying time for everybody dipping their feet into cryptocurrency and digital asset investment. From an all-time high of over 60,000 dollars, bitcoin has slipped and has lost its support at 30,000 dollars. It is on a free fall, not just Bitcoin but even your favorite cryptocurrency… and my favorite cryptocurrency.

Ethereum has a whole lot of things in the pipeline, many upcoming upgrades, and enhancements, but even these are not able to hold the price from falling. It hit a notable high of over $4000 but thanks to a widespread fall, it has fallen massively to a current price of just below 2000 dollars. Other cryptocurrency projects have seen double-digit falls; each of them records a percentage price loss of over 90% of their value at an all-time high. Unfortunately, this scenario seems to be just the beginning of an even bigger event. It is the bear market there’s no need to hide it anymore, it’s crashing, everything. remember the Lambo boys and the moon boys as well? well, they just submitted an application at McDonald’s, you might meet them on your daily shopping… pun intended.

The bull market is a very interesting time, even the worst digital assets record mind-blowing gains. You probably thought you already mastered the art of trading cryptocurrencies and making huge gains in a very short space of time; well I used to think so too. I thought I was a legendary cryptocurrency Trader who could easily spin money and make gains… once again I was wrong about myself and probably this applies to you as well, it’s very unfortunate I didn’t get to buy that Lambo anymore. Maybe next year, maybe in the next bull run; I am optimistic.

While cryptocurrency prices are prone to variations from time to time; it is no doubt that these variations are what actually make digital asset investment interesting. The fact that you could be rich today and poor tomorrow is mind-blowing and makes you want to come back and try again next time. You could make a fortune here and you can also lose a fortune here. The interesting thing is that there is no specified time to make these gains and losses. But unarguably, times like this are tougher. It could be heartbreaking watching your portfolio lose value; most times you have no control over these things and you can’t even stop your own assets from being valueless. Bear market warnings should sound louder, many traders are still unable to fathom the fact that prices can vary and they can go in any direction at any time… sorry, you used to be rich, but that’s not the case anymore.

But it is no story that even the biggest winners are made in a time like this. Prices of even the most reputable cryptocurrency assets are in the dust currently. Considering an all-time high of over 60,000 dollars you can currently buy bitcoin for less than half this price and double the amount of Bitcoin with the same cash. The discount across every asset makes for a very good purchase period and a time for investors to make even more gains if the market ever recovers. But that’s the issue; is the market even going to recover? Well, I wish I had a definite answer to that question but even your favorite Twitter analyst has called the return of the bull run a number of times but here we are dabbling in the red candles and losing cash as fast as possible, I wish there was a fix for this. But this is the test, the real test. Paper-hands and leaving the market as fast as possible but even if the diamond hands are getting bombed it might take just a while before they become loose and sell-off.

Consider this period a real test of your belief in the ability of cryptocurrencies to hold up against widespread sell-off and an army of investors looking to offload their investments and leave the space. There are discounts everywhere, every crypto asset is down badly and you can buy some of them for a penny… they used to sell for over $100. It’s test time, feel free to make use of this low price, but this is not financial advice.

25/12/2022
Next Five years in the crypto space.

What are your wildest guesses for crypto and blockchain technology in the next 5 years? what will the next five years in the crypto space look like? I’ve got two ‘mild’ ones. A fully functional Cardano blockchain and a completely stable Solana blockchain. No pun intended. Cardano and Solana, are certainly up there on my list of high-throughput Layer-1 blockchains. Just in case, Vitalik and his team couldn’t get the Ethereum blockchain to work properly; Charles’ brainchild can make a perfect fix…or alternative. Well, I just made three guesses.

There’s hardly a sector as fast-progressing as the crypto space. Twelve years since bitcoin’s historic emergence, a couple of ‘powerful’ people have taken sides on the idea of a decentralized back-end and financial platform. As powerful as Peter Schiff and Nancy Pelosi. Despite the pull sideways (not from those two anyways); cryptocurrency has progressed rapidly and dog-themed coins are worth more than the global pet market…not just pet dogs. Depending on how famous or lucky you are; you could sell your selfies for a couple of thousand dollars. Of course, the price will depend on how rare or adult-specific they are. Or how strong your hype-marketing game is. Just a heads up anyways.

For the technology; instead of Western Union, you can simply move your funds through Ethereum blockchain. On the worst days, that might cost you as much as $70, but that’s fine, considering how many more you have in your wallet. Lazslo Hanyeczs pizza deal didn’t just trigger a $3 trillion move, it set off a period of “on-chain” technological advancement. Even though these solutions are barely used by the majority, they are still worth more than their mainstream alternatives…some, not all of them anyways.

The past twelve years have been lots of fun, literally. The memes and their accompanying coins made sure of that. The future looks even more interesting, both ways. Not trying to make some oracular statements, but the next few years will be one to behold and are very important to the future of cryptocurrency and blockchain technology; the technology and the politics…sorry, market.

Government influence, decentralized applications, stablecoins, graphic stores of value…you name them. The next 5 years are already being shaped by the preceding years. If Mr. Schiff and rest of the gold community fail to prove the inferiority of bitcoin or the supremacy of their precious metal; bitcoin will be on the course to cement its place as a turbo-proofed store of value. Despite being held back by the bear market currently, it’s still bullish heading into the future. The next halving is barely two years away…

The US and UAE governments announced their plans to regulate digital assets and tasked designated arms with putting their nations at the forefront of digital asset growth. I’d say those announcements came when the bearish sentiments already kicked in; would have been enough to push bitcoin past $100, 000. Nevertheless, positive impacts from central governments will be instrumental to the growth of bitcoin and cryptocurrencies in the next 5 years. Trusting the central government to come up with positive plans for decentralized technologies is a bit double-edged anyway. This could go either way, of course. Cryptocurrency and blockchain technology have survived over a decade of rough paths with central governments, the next few years should be easier.

If Celsius hadn’t hit a rock, DeFi would have stood a chance of penetrating mainstream financial support systems. I guess they’ll have to fix their leaking roof before that. Albeit these negative events, the future still looks great for decentralized finance, Celsius inclusive. Cryptocurrency communities are evolving to truly fancy the idea of decentralization. The world outside the crypto space suffers much from centralized financial systems. DeFi, if done well, will take up this opportunity and offer a solution. A seamless and community-owned financial system.

Luna developers failed in their attempt to build an efficient algorithmic stable coin that follows the laws of demand and supply. USDC was meant to “die in the hands” of UST. Unfortunately, that didn’t go as planned and Do Kwon will have to deal with strangers knocking on his doors and the billion-dollar fraud allegations first before putting USDC to eternal rest. That sounds easier than it really is. The failure of Terra’s UST casts a shade on the growth of algorithmic stablecoins; but before this event, this concept was growing and was on track to pose a huge challenge for stablecoins backed by air and efficient printers. Algorithmic stablecoins still have a place in the crypto space and still have good chances of being the preferred medium of value preservation in the crypto space. If not for any reason, the fact that they are backed by the same concept that powers the whole space — logic, makes them more traditional.

NFTs might not sell for hundreds of thousands of dollars in the next five years, but they will still be a part of the space. Any celebrity selling some “rare behind the scene” pictures might have to settle for less than they charge for a feature as royalties for their NFT drops. Signatures of those arts are forever etched on the blockchain, so, they will always be there…just that they could cost (way) less.

More on the future? Maybe a brand-new hype idea? Metaverse is already building a huge hype, the next bull run could see many Meta pumps and dumps emerge. Ethereum 2.0 will probably be finally delivered before then; interesting to imagine what could happen over the years. What’s your wild guess?

25/12/2022
What are SoulBound tokens?

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You probably haven’t heard about it, could be a popular hype word for the next set of Bullrun pump and dumps; we are all here for it anyways. In an almost 40 pages whitepaper, Vitalik Buterin alongside other authors shared the mechanics of SoulBound tokens. The Canadian developer shed light on what he described as the ‘future’. NFTs are pretty special kinds of stuff; currently popularized by digital content owners creating signatures to their media, NFTs are currently important in the crypto space majorly for financial reasons. NFT collectors couldn’t care less about the technology. Billions of dollars worth of art and photography NFTs have been traded on NFT marketplaces since the concept gained fame in the last quarter of 2020.

This article reflects on other less popular but more important applications of NFTs.

Soulbound tokens (SBT) are NFTs; a unique form of NFTs. Like the common NFTs that create unique and immutable signatories for assets, SoulBound tokens are designed to certify certain personal attributes, qualifications, and identities. Soulbound Tokens depict holders’ innate abilities, qualifications that they have earned, and any other characteristics that are peculiar to them. Like a badge, they display these qualifications and features and present easy means to verify them. According to the whitepaper co-author, Glen Weyl, Soulbound tokens will be due for release in the last quarter of this year.

Normal NFTs create verifiable ownership of assets (most popularly, digital assets); Soulbound tokens create a verifiable proof of personal attributes. Soulbound Tokens (SBT) are pretty much like Non-Fungible Tokens (NFT), a big difference being the fact that they are non-transferable and are to be issued by the entity awarding the concerning qualification. Like your degree certificates, a Soulbound token confirming your qualifications can be issued by your academic institution. These tokens are unique to the holder and the issuer.

Soulbound token authentication will create a new and better way of creating and verifying credentials. Falsifying Soulbound tokens is impossible and so are the credentials they attribute to the holder. The use cases are boundless. certifications, proof of originality, proof of participation, proof of membership…

The inabilityto transfer Soulbound tokens makes them less lucrative as they cannot be traded like every other NFT, however, they weren’t meant to be traded.

Can you lose your Soulbound token? Well, the answer might be a bit complicated but; Yes, and also NO. No, because Soulbound tokens are issued to your Ethereum address and can not be moved from the address. This means that as long as you retain ownership of your address, your Soulbound token remains yours and cannot be moved. However, in case of a wallet hack or loss of wallet keys, accessing your Soulbound tokens will be impossible. This technically means that you’ve lost them, along with your address.

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In the whitepaper released, the authors shared insights on a community recovery method. This explains an approach designed to recover keys to a Soulbound token through a DAO of delegated participants. The ‘community recovery’ method presents a means through which lost Soulbound token keys can be retrieved through appointed institutions or individuals who have the ability to access and change the private keys to a wallet should it get compromised. These guardians must be members of a qualified majority of a (random subset of) Soul’s communities.

When Soulbound tokens are finally rolled out, they will help fight identity theft, scams and fake certifications in crypto and mainstream systems.

20/12/2022
Should the cryptocurrency community reward Laszlo Hanyecs for his Bitcoin pizza trade?

Not until Laszlo completed that deal to swap 10,000 bitcoins for “two big pizzas”; bitcoin was basically another complicated technology with an incredible whitepaper, a blurry founder, and a community of nerds and dreamers. You guessed right; Laszlo had a ton of worthless virtual coins sitting in software on his computer screen. Thanks to a lower hash rate, earning new ones was even easier.

He could go on playing the nerd game for as long as he wanted but then he made this announcement instead:

Well, Laszlo had a pretty basic taste for a bitcoiner!

It will be hard to predict exactly what was going on in his mind when he made this announcement, but I’m sure he was surprised anyone bought into his wager and sent him some pizza in exchange for 10,000 bitcoins.

In one move, he showed just how feasible Satoshi’s theories were and gave bitcoin value. Just like Sirius would say; “a great milestone”. Anyway, they made great Pizzas then and Laszlo didn’t care about giving up five-figure bitcoins for them. It’s incredible he chose pizza for this trade. I’d have said he showed bitcoiners what could be achieved with their funny nerdy coins, but the fact is; many believed that would be the last time bitcoin would be exchanged for something reasonable…including Laszlo, probably.

Laszlo’s happiness didn’t last for so long as his deal sparked off a cascade of bitcoin to real commodity trade. Fast forward to a few years later, bitcoin has become a global topic and the biggest economic disruption of the past two decades. It has given birth to an ecosystem and has become a revolution.

Laszlo’s 10,000 bitcoins would go on to be worth even more pizzas and eventually turn into a staggering figure. While bitcoin got way more popular, Laszlo Hanyecs’ story got popular as well. The 10,000 bitcoin deal has a reserved date for remembrance…and fun poking. You can make an endless list of how many things you could buy with a tenth of the fee Laszlo paid for his pizza. A few sources would even rank Laszlo’s deal as one of the dumbest deals of our lifetime… this is wrong in every way.

Laszlo will undoubtedly not get tired of being asked if he regrets his pizza trade but one thing is; considering the reputation of bitcoin at the time of this deal, Laszlo made a good choice. Unarguably, it is contemporarily unthinkable. But a look at the history of bitcoin, Laszlo Hanyecz’s deal with Jeremy Sturdivant is still worth it. Even with over two hundred and fifty-million-dollar worth of bitcoins at stake. The end justifies the means. If that’s what it takes to steer bitcoin and cryptocurrency into making a remarkable upset in the global economy, then certainly anyone will do the same. And Laszlo Hanyecz is easily one of bitcoin’s biggest heroes, just behind Satoshi Nakamoto.

Here’s the logic; Satoshi created bitcoin, and Laszlo gave it a value. Satoshi lost his identity while Laszlo paid an ultimate prize of whatever 10,000 bitcoin might be worth by the time you consider this. For a concept that went from worthless to over a trillion dollars at some point; it was well worth it.

Unfortunately, these two figures aren’t the biggest gainers from their actions. Satoshi might never come back to lay claims on his bitcoins and probably didn’t make a dime from his invention. He might be the brain behind those old bitcoin wallets coming back to life recently though.

But, do you think the cryptocurrency community should reward Laszlo for kicking off cryptocurrency trading and giving out that huge stash in the process?

Alright, I get it; he certainly made a good meal out of those two pizzas and even went on to receive more pizzas and some add-ons which includes a $500 store credit…a fair trade considering bitcoin’s reputation at that time. You’d find it pointless rewarding anyone for fair trade, that’s not wrong too. Regardless, this situation is a bit different, and looking at the role it played in the history of bitcoin; it’s reasonable to say that we are all enjoying the benefits of his 10,000 bitcoin ‘sacrifice’ and should reward him for it. Not necessarily by donating another 10,000 bitcoin to him anyways…

20/12/2022
Algorithmic stablecoins; the future of stablecoins?

Following the recent tragic developments in this space; ‘algorithmic stablecoins’ must be a huge caveat for you. Maybe there are exceptions such as when they have a 60% APY attached. I’ll always say it; cryptocurrency’s biggest achievement is, capturing human greed. When the yield is great, anything goes. In absence of tangible returns like this, most investors will pass up on anything involving stablecoins backed by algorithms and computerized economic policies.

Commodity-backed stablecoin projects are having a good time currently. The big argument used to be how Tether is backed ‘by air’ and should be cracked down. Taking a look at it again, it’s amazing how it managed to retain its dollar peg to date. We might have to re-calculate the strength of ‘air’.

I’m still not a fan of Tether or other shady stablecoins backed by unverified commodities and fiat though.

Terra blockchain’s Luna was on course for some incredible growth — price-wise, the ecosystem itself was booming. The foundation had billions in its reserves and the project founder was beaming with some serious ego. I’d recommend his interview on the fate of cryptocurrency projects as a reminder that nothing is too big to fail. That aged very badly and too fast, in my opinion.

It was going great until Terra’s stablecoin lost its dollar peg and caused a ghastly downward spiral for the Terra ecosystem. The whole crypto space was caught in the crossfire as bitcoin briefly traded below $26,000. Recovery hasn’t been easy and Terra’s LUNA and UST have since lost hope of a comeback.

In contrast to commodity-backed stablecoins; algorithmic stablecoins are programmed to respond to presiding supply and demand forces in order to maintain a pre-defined peg; most popularly, the US dollar. Stablecoins’ algorithms might have tangible differences in their core functionalities but a major similarity is that they are backed by ‘mathematics’ and logic rather than real assets. As long as the logic controlling the functionality of the coins works, the supply and demand continue to vary and the price stays relatively stable and around the value of the pegged figure.

The failure of Terra’s UST casts a shade on the growth of algorithmic stablecoins; but prior to this event, this concept was growing and was on track to pose a huge challenge for stablecoins backed by air and an efficient printer…pun intended.

But despite the unfortunate events, algorithmic stablecoins still have a place in the crypto space and still have good chances of being the preferred medium of value preservation in the crypto space. If not for any reason, the fact that they are backed by the same concept that powers the whole space — logic, makes them more traditional.

Tether, the most used stablecoin remains one of the blurriest operators in this space. Regulatory attempts have been channeled towards it but this hasn’t really resulted in a tangible breakthrough in at least making it a more transparent system. Popularly termed ‘cryptocurrency’s doomsday’, Tether’s stablecoins have reached a market capitalization of over $70 billion. Thanks to incessant and unexplained emission, billions of tokens pegged to the value of the United States dollar has filled the space. During this time, the value of cryptocurrencies has seen incredible growth as well. Yet, it will be hard for the most experienced crypto enthusiast to explain how exactly this stablecoin works and if it is fully backed.

Commodity-backed stablecoins have become prominent figures in the crypto space. In addition to vague backing and conformation to legal specifications, they are controlled by one entity and are grossly centralized. The issuing organization controls the supply and distribution. Consider these issuing institutions the new Central Banks. They have since minted billions of dollars and are trading on the most reputable exchanges.

Algorithmic stablecoins present a more transparent and decentralized alternative to these institutionalized and centralized stablecoins. With emission and distribution controlled by the community; and the peg maintained by a well-explained algorithm, they present a competent system for the preservation and transfer of stable value.

When the heat settles and algorithmic stablecoin projects develop a sustainable stablecoin system, decentralized stablecoins will take their rightful place in the crypto space. There are no perfect systems and just like every new concept, algorithmic stablecoins are prone to early days inconsistencies; we have seen one of the most terrible instances in UST’s failure. If we are being realistic, there might be even more coming, but this does not mean that algorithmic stablecoins are dumb…at all.

20/12/2022
Ethereum will flip Bitcoin. But when?

Every cryptocurrency investor shares the random thought of bitcoin getting ousted. The oldest cryptocurrency and blockchain has spent its whole years of existence on top of the charts. Dominating a fast-growing space and pioneering tremendous developments; the ‘future of money’ controls over 30% of the total crypto market valuation. The top list is ever-changing, a number of projects have occupied positions in the elite league. Only a few have kept this position for a reasonable duration. The competition at the top is stern, but for bitcoin; it is lonely at the top.

Apart from the alpha cryptocurrency, only one project has spent a ‘long’ time in the elite position — Ethereum. Vitalik Buterin developed a technology that has won the heart of many. Since its debut in 2015, Ethereum has become a household name in the space. The most used and emulated project, that’s a simple description for Ethereum’s reputation amongst developers and enthusiasts. The most actively developed too.

Thanks to brilliant technology and widespread adoption, Ethereum has claimed a position just below bitcoin. Unlike other projects that once occupied this position, it has retained it for a relatively long time and had been dubbed bitcoin’s successor. Well, dare to dream. If any current cryptocurrency project stands a chance of taking over bitcoin at the top, it’s Vitalik’s brainchild.

Does Ethereum have what it takes to move to the absolute top? I’d say YES; technically. But then these need to happen before that…

Ethereum’s ascension will need a little bit of bitcoin’s share of attention. Not just bitcoin maximalists, the whole space is much dependent on bitcoin and what happens around it. The old ‘reserve currency’ is currently the sole dictator of the direction of other assets in this space. It will be tough for Ethereum to climb to the top while bitcoin retains this undisputed rulership figure. The bitcoin hype needs to die, at least a little. This won’t be easy, bitcoin moving over to second place will be a bizarre sight too.

Anyways, bitcoin’s hype isn’t the only impedance on Ethereum’s ascension. Ethereum has its own problems too. Fees, speed…you name it. Despite being the most developed blockchain to date, the smart contract chain is still unusable to many. If any cryptocurrency is going to trump bitcoin, it has to be special. Ethereum is special, no doubt; it still needs a whole new level of efficiency to move over to the number one position. A lot of developments are rumored to be coming to the chain, maybe this will be a revolution…who knows.

Unlike bitcoin, Ethereum is built for several purposes. There’s a long list of unique things that can be built on the chain. The quality of projects built on Ethereum has a big impact on its growth. The tons of projects currently running on Ethereum are the principal reason for the price growth over the years. This growth will continue for as long as reputable projects launch on Ethereum and existing ones continue to make great progress. However, if Ethereum will ever grow past bitcoin, mainstream institutions will have to build alternatives or replacements for normal products or services on Ethereum.

Visa recently shared plans to build a payment solution on Ethereum. This and even more are possible on Ethereum. Mainstream firms and brands can launch incredible services on Ethereum. This will boost the price greatly and ease Ethereum’s journey to the ultimate top.

Just like Visa’s payment solutions, Central Bank Digital Currencies (CBDCs) can be launched on the Ethereum blockchain. Most cryptocurrency enthusiast frown at CBDCs, but the reality is; they are here to stay. Not just here to stay, they stand more chances of survival than most normal payment solution crypto projects. Most governments are building their own blockchains to launch CBDCs. While this is for obvious reasons, the Ethereum blockchain can easily host as many CBDCs as possible. Nations should consider taking this route, which is relatively cheaper and easier. Ethereum as a hub for CBDCs will be a huge boost for adoption and value as well.

You surely have your preferences and you hope to see them at the top. If anyone is ever going to come too close to overthrowing bitcoin, Ethereum is first on my list. This space is unpredictable and the most reasonable scenario is bitcoin retaining its position. But anything is possible and Ethereum could go all the way. Or XRP? Well, feel free to dream!

20/12/2022
Pay in crypto: Popular platforms where cryptocurrency payment is accepted.

With the recent wave of adoption, you’ll soon be able to make purchases at your favorite kiosk and pay in crypto. Don’t forget to leave a good tip. You might be impressing the next store. Well, I guess I’m a little bit backward; many small-scale stores already accept cryptocurrency payments. Without government approval, clever merchants are devising ways to include a two trillion-dollar sector in their payment option.

Even if you don’t fancy cryptocurrencies, you face a dilemma, one of which is missing out on the future of money and technology. And if you don’t fancy cryptocurrency, then you simply don’t understand it. Making payments with cryptocurrencies is a fun exercise, except when you are paying transaction and withdrawal fees…arguably.

While you wait for your closest store to add a cryptocurrency payment option, here are some popular platforms where you can spend your cryptocurrency in exchange for desired services.

Travala

Cryptocurrency enthusiasts are naturally adventurous, you surely wish to explore the world. Aviation firms offer a comfortable means to travel around the world, but you’ll have to pay a fee; a fare actually. Mostly in fiat. You have crypto and you wish to travel the world too. Yes, you can! Travala.com offers cryptocurrency payment options for flights with over 500 airlines. Here, you can also book your stay in thousands of hotels worldwide. Travala offers cryptocurrency payment options for recreational activities in some of these locations. Bitcoin, Ethereum, BNB, and a couple of other cryptocurrencies are accepted on Travala.

Hostinger

So, do you have an idea you wish to bring to life? The internet is one of the best media to flaunt your ideas and create an audience. Getting a website is one way forward. Hostinger is one of the most popular web hosting platforms and offers incredible rates for different web hosting plans. On Hostinger you can pay for and renew your web hosting plans using cryptocurrencies. Don’t worry, it is incredibly swift and you’ll hate paying with fiat when you experience it!

Shopify

Shopify is a powerful tool for merchants, it offers merchants an efficient avenue to host their businesses on the internet and perform swift exchanges without worrying about the complicated aspects of e-commerce. Shopify is currently used by millions of merchants to amplify sales and promote their businesses. You can do the same as well, Shopify simplifies e-commerce. And yes, you can pay for these services with your cryptocurrencies. Shopify accepts payment in cryptocurrency for merchants as well as consumers.

Pornhub

The adult video business is a booming one, it has always been. With millions of people streaming adult videos every minute, it is in fact a hot shot. Pornhub is the leading platform in adult video retail. Following a fallout with mainstream payment facilities — Mastercard and Visa, Pornhub has added cryptocurrency payment options for premium content on their platform. You can easily subscribe for the most satisfying content using your cryptocurrencies. Bitcoin, Ethereum, Tether, and BNB are currently accepted.

PayPal

The payment giant is used by over twenty million merchants around the world for swift payments. PayPal offers users a way to send and receive money as individuals or merchants. The swift payment platform is available to people in most parts of the world, a majority making fiat payments. In addition to fiat payment options, PayPal also allows you to make and receive cryptocurrency payments. Bitcoin and Ethereum are currently accepted. Pay your pal…in crypto.

Twitch

Live video streaming is fun, for the streamer and the spectators as well. With Twitch, gamers and other content creators find a medium to share their activities with their audience and also expand their followership. Twitch is one of the most popular live streaming platforms. Payments on Twitch can be made using cryptocurrencies.

Axa Insurance

Bitcoin is your best insurance option, but that’s simply hard for most people to understand. Mainstream insurance firms are pretty much functional anyways. It is however, very possible to combine both. If you’re already insured in crypto and wish to diversify your insurance, mainstream insurance companies offer financial protection against future unfortunate events. As a cryptocurrency holder, Axa insurance offers you an option to pay for your insurance plans in cryptocurrency!

Tesla

Self-driving and electric cars are the future. Through his electric car manufacturing company, Elon Musk gives us a look into the future. Electric cars are evolving and in constant development. Teslas are cool; I mean who doesn’t want one? And when you can easily swap your bitcoin for a Tesla, it’s even more fun. Bitcoin payment option is available for coiners who wish to purchase a Tesla. Tesla Model 3 looks cool, you might want to check the model X too. I wouldn’t swap a whole bitcoin for a Tesla though, but that’s a personal decision.

Off-White

Fashion is a vital part of lifestyle; you certainly have to embrace it. Off-white, the popular designer brand has delivered tongue-wagging clothing designs over the years. Off-white sneakers and clothing are cool, but what’s even cooler is that you can now pay with bitcoin on the checkout page. Happy shopping!

Wikipedia

The internet is home to unlimited resources. Information is littered throughout the web. Wikipedia is almost a web on its own. Thanks to thousands of contributors, Wikipedia has created an online encyclopedia with detailed information about almost everything. Millions of internet users have found this platform resourceful. If you’re one of them, consider donating to the world’s biggest encyclopedia. Cryptocurrency donations are accepted.

Cryptocurrency and blockchain technology has lasted for over a decade, yet the past three years are the most significant in terms of legal involvement. Bans, regulations, acceptance; we have seen a lot of these in the past few years. It gets intense and more positive each new year. This looks like the year cryptocurrency finally penetrates the central government. Before that happens, consider booking your next flight with cryptocurrency. Safe flight!

20/12/2022