Author: dfmines

Q3 was a volatile period for digital assets as Bitcoin wicked below $30,000 and the total crypto market capitalization shed half its value.

Looking to learn solidity relatively quickly. Any courses, videos, projects, etc anyone can recommend? I find I learn best by doing projects alongside a learning resource. Looking specifically to launch an NFT project and learn more about creating new tokens and distributing them. Thanks in advance! submitted by /u/brombergmedia [link] [comments]

Will Ethereum 2.0 still be the same coin as Ethereum? Is it just an update to Ethereum itself? I have a lot hold holdings in Ethereum and I’m wondering if I will have to transfer it all the Ethereum 2? I’m so confused some please help LOL….. it’s not a new coin correct, it’s just…
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Subsocial Network, an open platform designed to support the creation of decentralized social networks and marketplaces, announced on November 11th that it will be participating in the upcoming Kusama parachain slot auction. As per the announcement, Subsocial will bid for one of the competitive Kusama parachain slots to scale its ecosystem within the Dot and Kusama community. The project has since invited Kusama (KSM) token holders to participate in its crowdloan, where a total of 16.5 million (16.5% of the total supply) SUB tokens will be allocated as rewards. Launched in June 2021, the Kusama parachain slot auction has been an enormous success, with Karura (a Polkadot-based DEX) winning the first auction. A total of eleven projects have since been awarded parachain slots through this initiative. Subsocial is looking to join this growing list, setting itself apart as the primary social network-building platform on Polkadot and Kusama. At the core, Subsocial leverages Web 3.0 to introduce a decentralized social media and NFT marketplace. The platform’s infrastructure is built on Polkadot’s substrate blockchain framework and IPFS tech stacks to support decentralized file storage. As such, users can create decentralized and censorship-resistant social media platforms. Following the parachain slot bid, Subsocial’s native token SUB stands to gain significantly if the project wins a slot. For starters, it is likely to be listed on popular DEXes within the Polkadot ecosystem, including Karura. Additionally, crowdloan participants who receive SUB tokens can start using them to monetize Subsocial’s ecosystem opportunities. This native token allows Subsocial users to deploy their own censor-ship resistant chains and tip their favourite content creators, alongside supporting other in-built monetization options. Subsocial’s Crowdloan Campaign As mentioned, Subsocial has set aside 16.5 million SUB tokens to reward KSM token holders that will dedicate their tokens towards the crowdloan campaign. Out of these, 15 million SUB tokens will be allocated as participation rewards, while the remaining 1.5 million tokens will be allocated to a referral program and distributed as per the stipulated terms. The crowdloan has a cap of 100,000 KSM which means that participants will get 150 SUB tokens per KSM if the cap is achieved. However, should Subsocial win the parachain slot with a lesser bid, the contributors will receive more than 150 SUB tokens per KSM. Assuming Subsocial wins with a 50,000 KSM bid, contributors will receive 300 SUB tokens per KSM. Besides the SUB token rewards, contributors to this crowdloan can also earn referral bonuses. The contributors will be allocated unique referral codes, enabling them to generate 15 SUB for each KSM token contributed by their referrals; these rewards will be split on a 50/50 basis between the referrer and the referee. Notably, 80% of SUB token rewards will be subjected to a vesting period of over 48 weeks as per the parachain slot lease. Meanwhile, the remaining 20% can be claimed upon receipt. The initial unlock of 20% of the SUB rewards is expected to go a long way in stimulating the use of Subsocial’s network and its capabilities. While the parachain slot auction bid is a significant milestone, Subsocial has already distributed over 750,000 SUB tokens through the Dotsama token claim initiative. The project is set to hold the fourth Dotsama token claim round to hit the 1 million distribution target.    

A good portion of the bitcoin supply has been lost due to holders dying or forgetting their private keys. These coins will never be recovered and are regarded as lost bitcoins. They play into the scarcity factor that drives the value of bitcoin up. It is estimated that 20% of the digital asset has been lost. These could technically still be recovered but it is unlikely since losing a private key means losing the coins held in the wallet. Since so much of the asset is lost, the rest remaining in circulation are more valuable than ever, especially given the limited supply of bitcoin. Sometimes, though, some of these wallets with BTC which have been regarded as a lost cause can be reactivated again. It could be the holder finally managed to find their lost private keys or they had simply been holding for that long. Related Reading |  Institutional Bitcoin Open Interest Plummets, But Why? One of these wallets, dormant for eight years with millions in BTC, has just been reactivated and coins have moved out for the first time in a long time. Whale Wallet Activates A whale wallet holding 2,207 BTC has now been activated after spending 8.1 years in dormancy. Whale Alert reported the activation after the wallet began moving BTC out. 💤💤💤💤💤💤💤💤💤💤 A dormant address containing 2,207 #BTC (150,512,129 USD) has just been activated after 8.1 years (worth 294,287 USD in 2013)!https://t.co/a6EPxBbXd5 — Whale Alert (@whale_alert) November 10, 2021 The amount contained in the wallet was only worth $294K when the last transaction occurred on the account. Now, 8 years later, the value of the coins held in the wallet has grown so much that it is now worth over $150 million in 2021. One could speculate as to why the wallet has only begun to transact now but there could be a number of factors at play that could lead to such a long dormancy period. BTC falls to $65K | Source: BTCUSD on TradingView.com It could be that the owner of the wallet forgot that they had this wallet. It might sound impossible but could very well be the case. A more likely scenario would be that the wallet owner forgot their private key and could not find it for a long time. Maybe they were finally able to access the wallet in 2021. Another scenario could be that this is a case of diamond hands. There are holders who have held through thick and thin in the bitcoin market over the years and have refused to sell. This holder could be one of them. Whatever the situation, the reality remains that this is now a very rich holder and they may begin to take profits over the next couple of days. Inflation Announcement Sends Bitcoin Soaring Inflation figures for the U.S. were recently announced and the figures came out higher than previous figures. Inflation rates for the country currently sit at 6.2%, higher than anticipated. The growing inflation rates have been a concern for investors in the market. Sending them running to cryptocurrencies, which have proven to be an effective inflation hedge. Related Reading | Bitcoin Payments Card Are Coming To Asia Pacific, Courtesy Of Mastercard The recent announcement though spelled good news for the market. After inflation figures came in, bitcoin had rallied towards a new all-time high. This is indicative of investors putting their money into the digital asset to keep it from being affected by inflation. BREAKING: Inflation came in at 6.2% and bitcoin immediately ripped to an all-time high. The market is speaking. — Pomp 🌪 (@APompliano) November 10, 2021 Bitcoin had rallied above $69K for the first time on Wednesday, setting a new record before the close of the trading day. Featured image from Bitcoin News, chart from TradingView.com

submitted by /u/Worried-Software-600 [link] [comments]

I see a lot of posts and analyses trying to predict when the peak will happen, and I understand it. Selling near the top and then ~ 1 or 2 years later buying near the bottom of the bear market looks like a common sense strategy but unfortunately it won't work for the majority of…
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Bitcoin has chosen violence with a sudden move to the downside resulting in a 5% loss in the daily chart. As of press time, the first crypto by market cap seems to be recovering as it moves back to the mid-zone of its current levels. Related Reading | Bitcoin Maximalism – Crypto Survivors and OG’s Could Make a Case to Differ Bitcoin trades at $65,442 still with a 3.6% profit in the daily chart. In the short term, BTC’s price has found support at these levels, but could see further downside if it dropps below $63,000. To the upside, much of the resistance has disappeared and BTC seems poised to, at least, attempt to take the high area near its next all-time high, $70,000. Above those levels, data from Material Indicators still records $62 million in potential ask orders around those levels. In the derivatives sector, Bitcoin’s flash crash resulted in some leverage positions being wipe-out. As seen below, the leverage ratio across exchanges took a dive after seeing an explosion in mid-October. These levels are still much higher than it May, 2021, when Bitcoin saw one of its most severe corrections crashing from its previous all-time high to the yearly open, near $29,000. Thus, as more traders turn bullish on BTC’s price recording more gains, the leverage ratio could increase. This leaves the market open for sudden moves as liquidation cascades forces the price to trend to the levels where most operators would sell, willingly or not, their positions. Related Reading | Bitcoin Extends Correction, Why The Bulls Might Take Back Step Analyst David Puell explored Bitcoin’s crash and recorded an increase in Open Interest with positive premiums on exchange platform Binance, one of the largest in the world. Puell Said: OI acts as fuel to to the fire to the above as predictor of a liquidation event. Liquidity can be grabbed on the downside by smarter players. Binance holding the OI makes the bearish signal more reliable. Liquidation event is likelier given that CME (Chicago Mercantile Exchange) can only go 2x. Why $100K Per Bitcoin Could See Some Obstacles However, as the event unfolded Puell recorded a shift in the premium for derivatives to a discount. This has made the analyst flipped for a completely bearish bias to believe the moved to the downside could have been healthy for Bitcoin. Still, the price of BTC must remain consistent as it seems to enter another consolidation phase. There are other factors that could bring volatility into the market, such as the activation of Taproot, Bitcoin’s upgrade, which should be activated during the week or at some point next week. Related Reading | Bitcoin Supply Looks Illiquid As Long-Term Holders Keep From Selling As this data shows, the path towards more gains in Q4, 2021, could prove difficult. In addition, the macro-outlook turns complexes. Yesterday, Bitcoin appeared to have reacted to a potential default from the Chinese real state company Evergrande. While it looks like #Evergrande didn't default as initially reported, these rumours have been affecting financial markets (S&P 500 shown here) and #Bitcoin negatively. Bitcoin's price is now down by roughly 4% to around $64.5k pic.twitter.com/NEIK9QP1wB — Jan Wuestenfeld (@JanWues) November 10, 2021

Bitcoin Maximalism is a controversial concept that lurks around the crypto-verse and comes to the spotlight behind metrics like the Bitcoin Dominance Index (BTCD), institutional involvement, and various similar comparative narratives. It is undeniable that this concept comes without its own merit as the perception of the rest of the cryptocurrency markets behaving like a casino comes with adequate historical proof of rugpulls, scams, hacks, and the list goes on. It is the notion that only one crypto asset and network is worthy of investment, Bitcoin (BTC), the others are merely unreliable assets that have capitalized on the hype behind BTC and can only serve as instruments for baseless speculation. However, with the rising adoption across blockchain networks and emerging cryptocurrency tokens being used as investment vehicles, it is becoming increasingly evident that there is ample room for various blockchain networks and crypto assets to coexist in the same ecosystem leading to healthy growth across the industry globally. At the same time, it is also true that many protocols, firms, and assets gaining traction right now due to the high mainstream media attention, hype, and fear of missing out (FOMO) that often encapsulates the industry due to posting significant gains and birthing several self-made millionaires and billionaires in just over a decade of existence, will not end up making it in the long term, either due to lack of a proper use case/user proposition or irregular fundamentals that don’t add value thus have no takers beyond the hype. Pros & Cons of BTC Maximalism Even though Bitcoin maximalism might sound extreme to some, the narrative and belief exist in the ecosystem for good reason as the network has proved its worth and cemented its place in the history of the financial markets as the first digital asset that has led the markets for the longest time now. The network is historically the least tampered with and has proven to be one of the most reliable ones out there. Thus, it is essential to have a look at both sides of the coin and gauge the pros and cons of bitcoin maximalism as applicable today.   Bitcoin Maximalism Pros Cons Supported by Metcalfe’s law that states that the value of an investment is proportionate to the square of the number of participants involved The same law extends to various altcoins that have shown relative price stability like Ethereum (ETH), Cardano (ADA), Tezos (XTZ), etc. Bitcoin also has the functionality to utilize separate side chains that don’t have a native token of its own to improve the functionality of the network and step into the world of DeFi, these chains are known as pegged sidechains. Smart contract networks have the ability to support various financial features as is becoming increasingly evident in the DeFi markets. There are nuances on the existing Bitcoin sidechains that make it difficult for developers and applications to build on. Bitcoin network and tech are obsolete in comparison with smart contract networks that have the capability to offer a higher value proposition to their users. It is the most stable cryptocurrency in terms of price and serves as a leader for price discovery for several tokens in the market. Altcoins often have a potential for higher gains on investments as they have higher price volatility. It is the most secure blockchain network due to the high mining difficulty which entails a reduced probability of attacks on the network. Various innovative blockchain solutions that enter the market every day have no deployability on the Bitcoin network. The asset has maintained its place in the market through several unfavorable instances such as the Mt. Gox hack which cost investors more than $460 million at the time in 2014. However, it was recently announced that the defunct exchange will pay $9 billion to its creditors to put an end to this seven-year-old saga. Like Bitcoin and the prominent altcoins like Ethereum, there are various blockchain networks, cryptocurrency exchange, and other protocols that have stood the test of time even through events like the crypto winter and several bear runs that caused several big players to also become irrelevant in the ecosystem. Here are examples of a few projects, networks, and cryptocurrency exchanges that stood the test of time amidst various unfavorable instances and FUD (Fear, Uncertainty, and Doubt) that has engulfed the market countless times in its brief existence. KuCoin KuCoin is a cryptocurrency exchange that has been around since it was founded in September 2017. It had held its stead as one of the prominent cryptocurrency exchanges that fought the market tides and have cemented its place as one of the most important exchanges in the crypto-verse. In 2020, a North Korean hacker group called Lazarus Group executed a hack on Kucoin that resulted in the loss of $275 million, which was half of all the cryptocurrency stolen that year indicating the magnitude of the hack and the amount of funds lost. However, even in the face of adversity the exchange soldiered on and resumed trading soon after. In February this year, it was announced by CEO and founder Johnny Lyu that 84% of the funds, i.e. $239.45 million has been recovered and the remaining funds is covered by the insurance fund, thus the exchange ensured that no user was impacted due to this hack. KuCoin has been impressive with its response to China’s absolute ban on cryptocurrency transactions and associated businesses. Reportedly, the exchange immediately conducted technical self-inspection to ensure that the company’s operations complied with the regulatory requirements of mainland China. Soon after, the exchange joined Huobi and Gate.io and boot users from mainland China on its platform. Tezos Tezos is amongst the first generation of blockchain networks to enter the crypto-verse as an early adopter of the proof of stake (PoS) consensus mechanism and has held its relevance since its launch through the market cycles of the industry. The network offers the smart contract utility at a fraction of the cost of Ethereum and is way less energy-intensive in comparison due to its highly decentralized nature. According to a recent report by the Bank Of America (BofA), Tezos is the blockchain network with the second-highest amount of developer interest indicating strong fundamentals supporting the network as developers constitute the core aspects of the network. The network has also been validated by the European Central Bank (ECB) when the central bank picked it as one of the blockchains that are fully compatible with the current fiat-biased monetary system. Tezos was chosen by the Arab Bank (Switzerland) Ltd. to offer the bank’s institutional clients a platform that facilitates the staking, storing, and trading of XTZ tokens, the native token of the ecosystem. The protocol has also partnered with Societe General, the third-largest French bank to issue the bank’s first structured product as a security token using Tezos as the blockchain. Tezos is now improving its user proposition and relevance in the market with a series of partnerships with various high-profile players spanning various markets and sub-ecosystems moving towards institutional markets as well. Tether Tether is the most widely used stablecoin today with CoinMarketCap ranking it 5th on its list of top 10 cryptocurrencies with a market capitalization of nearly $70 billion. However, its trading volumes surpass that of all the other cryptocurrencies, including Bitcoin. In fact, its daily trading volume is more often than not double that of the BTC as the stablecoin is often used as a transitionary and transaction currency for various trading needs, in DeFi protocols, and even in payrolls across various cryptocurrency firms. However, since its inception, its journey hasn’t been without hiccups. Tether and the cryptocurrency exchange, Bitfinex was held up by the New York attorney general’s (NYAG) office citing charges of manipulation and issuing uncollateralized USDT tokens. The NYAG also stated that only 74% of all the USDT is circulation is currently backed. In response, Tether put out attestation of its reserves, assuring users that the stablecoin is actually collateralized in the right manner as originally stated. At the end of this investigation, there were no criminal charges levied on Tether or Bitfinex either that could be seen as a win for the stablecoin. Although, they did pay over $18.5 million in fines and have been asked by the court to provide its quarterly reserve reports for the next two years. In another case running with on a similar allegation by both parties filed in the Southern District Court of New York under the Racketeer Influenced and Corrupt Organizations Act, or RICO, which was dismissed by the judge in a win for Tether. Since then, stablecoin has been gaining even more traction and adoption as it is evident that there is no proof of any manipulation of reserves, thus cementing its place as one of the mainstays of the crypto-verse. Ripple Ripple has been one of the most discussed cryptocurrency projects in the blockchain ecosystem, especially due to its prolonged trysts with regulatory bodies over nuances that could be considered to be a sign of resilience and commitment of the team to its original vision. The native token of the network, the XRP token, has held its in the top 10 cryptocurrency tokens by market capitalization for many years now amongst the various legal issues the company has faced indicating a strong continued belief and confidence of investors in the network and its fundamentals. XRP has been one of the most stable cryptocurrencies in terms of price volatility which is a sign of the maturity of an asset. The United States Securities and Exchange Commission (SEC) announced in Sep. 2020 that they have filed an action against Ripple Labs and a couple of its executives, stating that $1.3 billion had been raised through an unregistered and ongoing digital asset securities offering. The crux of the case is that the SEC classifies XRP as an “unregistered security,” a classification that Ripple Labs has contented in court ever since. The marketwide perception is that the SEC vs. Ripple case is going better than expected and Ripple has a high chance of winning the lawsuit that has been extended too long on irrelevant technicalities. Even veteran investor Warren Buffet’s firm Berkshire Hathaway has invested $500 million in Brazilian digital bank Nubank, a member of RippleNet, the protocol’s global payments network for financial institutions, which is a positive sign for the payment processing network’s future. Qtum Qtum Chain Foundation launched the Qtum Blockchain mainnet in September 2017. It was the industry’s first smart contract platform based on the same unspent transaction output (UTXO) model as Bitcoin. After three years of technical iteration, Qtum has gradually developed a variety of unique technical and ecosystem characteristics, which are very suitable for building DeFi projects, called Qtum 2.0. Essentially, the network combined the security of Bitcoin’s blockchain model and the flexibility of smart contracts like Ethereum, Solana, and Binance Smart Chain (BSC). It uses a decentralized governance protocol (DGP) that allows changes in blockchain settings to be modified via smart contracts. For instance, the block size can be increased without the need for a hard fork. Qtum 2.0 has been developed to be a blockchain that is ready for business. The platform allows for business-friendly smart contract coding, deployment, and execution. It is also compatible with existing blockchain infrastructure that allows it to be integrated with existing technologies of businesses, and it’s modularized so that new technology can be added at any time. This foundation enables them to provide customized solutions to enterprise clients. Qtum uses an Account Abstraction Layer (AAL) that decouples applications from the underlying protocol, thus maintaining the performance of the blockchain and lending the ability to add more smart contract utility in the near future. The platform has a very big proof of stake (PoS) network with full nodes that are only exceeded by Bitcoin and Ethereum networks. There are a total of 1,478 Qtum nodes active globally. Conclusion As evident, it is sort of short-sighted to make an argument for absolute Bitcoin maximalism as it is evident that there are several other assets, networks, and the surrounding ecosystem that thrives on the diversity that the cryptocurrency markets in terms of investment vehicles, i.e., tokens. It is undeniable that BTC is the top digital asset as it cements its place even in the traditional financial markets as the digital gold with more institutional investors gaining exposure to the asset’s volatility through the ETFs listed, but that doesn’t take away from the potential of growth that various other players in the crypto-verse currently possess.  

Representative Don Beyer — who has previously proposed legislation expanding the regulatory and legal framework for digital assets in the U.S. — will be chairing the hearing.