Category: Cryptocurrency News

While Thai crypto investors and miners are required to pay the tax in 2022, exchanges are reportedly exempt from the new duty.

Prices are down, and you can't buy? Do you feel the fear of missing out a good buying opportunity? Yeah, then you should control yourselves. People will tell you to buy the dip and they may be right BUT your investments shouldn't be driven by FOMO. If you have a plan, stick to your plan.…
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If the dip continues, prepare to see your favorite exchange having “trouble” processing withdrawals or deposits. Exchanges are not your friend. Binance will prevent you from withdrawing and Coinbase won’t process your buy order (or vice versa). Don’t be surprised, be prepared. Exchanges are tools and you should learn how to on-ramp and off-ramp with…
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The key to mass adoption of crypto is currently limited by the fact that most decentralized platforms are too difficult to use. There needs to be an interface to simplify complex, decentralized infrastructures and protocols for the public. An enhancement of user accessibility will break down entry barriers and take consumer experience to the next level. In the current crypto landscape, the major accessibility problems arise from DEXs due to their complex OS and hard-to-figure UI/UX structure. The usage rate is growing at an astonishing pace, but many exchanges are struggling to tap into larger audiences new to the blockchain world. The solution to help overcome these issues lies in taking all the benefits of a DEX and its assets and integrating them into people’s mobile phones. We live in a mobile-first world, so having an application exclusive for smartphones will increase widespread acceptance as people can leverage decentralized exchanges in a frictionless way. Fibswap’s DEX Phone App Is Leading the Charge The current landscape of DeFi is filled with exchanges that lack proper UI and high interoperability. As a result, users struggle to overcome the complexities of both centralized and decentralized exchanges. While DEXs do have the upper hand over CEXs with more privacy, complete ownership, and security, it involves a learning curve. With a mobile application, users can avoid complex steps while using different service providers for a simple token swap on DEXs. This is where Fibswap is filling the gap and solving an industry-wide problem. Fibswap, a multi-chain exchange, has developed the world’s first Android DEX application to simplify DeFi for everyone. The platform’s interface is user-friendly and will separate users from sophisticated onboarding steps. The new DEX solution also has an integrated wallet, making the swapping process more streamlined for investors and traders. In addition, the app will give users direct access to their crypto assets. Interoperable System of Fibswap Makes the Android App More Desirable A mobile application will certainly be a superior choice for users when using a decentralized exchange. But will it be faster and multi-chain compatible? Fibswap’s DEX app has a unique interoperable multi-chain bridge system (IMBS) that makes trading 99% faster and allows traders to bridge between two blockchain networks. At the press of a single button, Fibswap users can execute swaps in under 10 seconds at low fees by using its utility token, $FIBO. Also, it requires no additional technical expertise. Users can operate in the same way as they do with single-chain DEXs like Uniswap and PancakeSwap. In terms of security, the Fibswap app provides a reliable platform that keeps users’ funds secure and removes the external vulnerability by conducting vigorous audits. So the application has got everything covered to help DeFi reach masses with zero restrictions. Fibswap’s Flagship App Will Be a Game Changer Fibswap’s mobile application is an extension of their current DEX  and this should increase crypto accessibility for mainstream public users. Mobile-only users can directly access their preferred blockchain network and tap into all available assets using FibSwap. As the cost of entry is significantly low compared to other exchanges, the multi-chain ecosystem is now open to all types of DeFi users. The app will launch on Jan 4, 2022, and an IOS version will be released soon after. This could initiate a massive wave of public interest towards mobile-based DEXs, and Fibswap’s flagship app will be the one to take over.

Will the plan work? Soon, the Bitcoin Bonds will get the legal foundation they need. In a recent TV interview Alejandro Zelaya, El Salvador’s Finance Minister, said they will send the necessary bills to Congress. Soon. Reportedly, El Salvador will initially issue $1B worth of bonds, which will have a ten-year maturity and carry a 6.5% coupon. The bitcoin that backs them will be locked for five years. The project, announced by President Bukele at Labitconf 2021, includes plans to build Bitcoin City. More on that later. In a scheme worthy of MicroStrategy, El Salvador will spend half of the money on the construction of Bitcoin City and will buy Bitcoin with the other half. Will the plan work? Well, they have to sell the bonds first. And for those to exist, a regulatory framework is required. BTC price chart for 01/06/2021 on OkCoin | Source: BTC/USD on TradingView.com What Did El Salvador’s Finance Minister Say About The Bitcoin Bonds? In an interview in the local TV show “Frente a Frente,” Zelaya announced the plan’s following steps. Reuters reports: “El Salvador’s government will send to Congress about twenty bills covering financial markets and investment in securities to provide a legal foundation for issuing bitcoin bonds, Finance Minister Alejandro Zelaya said on Tuesday.” The Finance Minister didn’t specify exactly when they will introduce the bills. According to El Salvador In English, Zelaya said, “This type of legislation is what we are going to send to the Legislative Assembly to be able to give legal scaffolding and legal certainty to all those who buy the Bitcoin bond.” “El Salvador podría convertirse en un centro regional donde los demás países puedan emitir deuda, contamos con grandes ventajas como tener una economía dolarizada y ser de punta de lanza en materia cripto”, expresa el Ministro @AlejandroZelay9 en @Frentea_Frente. pic.twitter.com/uHbEzx4A3c — Ministerio de Hacienda (@HaciendaSV) January 4, 2022 Through the Ministry of Finance’s Twitter, they quote Zelaya being even more daring. “El Salvador could become a regional center where other countries can issue debt, we have great advantages such as having a dollarized economy and being pioneers regarding crypto.” It’s to cover and guarantee the #Bitcoin #VolcanoBonds, but also a full re-engineering of the economy and of the way a nation state does business. Everybody searching for freedom: this is the place to come 🇸🇻https://t.co/zupEKC3usB — Nayib Bukele 🇸🇻 (@nayibbukele) January 5, 2022 Adding fuel to the fire, President Bukele said via Twitter, “It’s to cover and guarantee the Bitcoin Volcano Bonds, but also a full re-engineering of the economy and of the way a nation state does business.” Not satisfied with that bomb, he added, “Everybody searching for freedom: this is the place to come.” What About Bitcoin City? Is That A Go? The Bitcoin Bonds will finance the construction of Bitcoin City, but, what’s that exactly? When President Bukele announced El Salvador’s plans, NewsBTC timely reported:  “According to Bukele, Bitcoin City will be a full-fledged metropolis with residential and commercial areas. It would also have shopping centers, restaurants, a port, an airport, and railway services. There would be no income, property, capital gains, or payroll taxes. Residents would, however, be subject to just value-added tax (VAT). This tax will go towards paying for the municipality’s bonds, public infrastructure, and city maintenance.” However, more recently, an investigative report by podcaster Anita Posch cast doubt upon the Bitcoin Bonds and the whole enterprise: “Apparently, the seemingly advanced plan for Bitcoin City was a collage. “At least some of the Bitcoin City presentation slides were downloaded from the internet and there was no detailed plan behind the announcement.” Not only that, the structure behind the Bitcoin bonds that will finance the whole operation was also improvised. “The way the Bitcoin bonds will work was finally decided only a few minutes before Samson Mow took the stage.” However, the plan is a go, and Blockstream’s Samson Mow is all-in on it. He recently tweeted the trailer for an upcoming documentary on El Salvador and its Bitcoin City plans. In the tweet, he threw an extremely optimistic, “Bitcoin is going to save the world and it starts here in El Salvador.” Here's an amazing trailer from @anna_tutova for a new documentary on everything that's happening in El Salvador and #BitcoinCity. #Bitcoin is going to save the world and it starts here in El Salvador. 🇸🇻🌋🚀@nayibbukele @WilliamSorianoH @fulloa51 @maxkeiser pic.twitter.com/GcBUV8d9RN — Samson Mow (@Excellion) December 29, 2021 Will the plan work? Is Bitcoin City a real project or a hastily put together mess? Do the Bitcoin Bonds offer a high enough return? Or are the Bitcoin Bonds too risky? Wouldn’t it be better for an investor to just buy bitcoin with that money? Or are we missing something?  To answer all those questions and more, El Salvador needs a regulatory framework to issue the Bitcoin Bonds. And the roughly twenty bills that guarantee that are on their way to Congress. Featured Image by Wilson Edilberto Santana Suarez on Unsplash | Charts by TradingView

Hi all, I have the following questions for a research. It seems that these information is hard to get as most sites only limit on very superficial information. What does an NFTs dataset in ethereum looks like? What information is stored exactly in the blockchain? If the content of an image NFT is not stored…
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LegendsOfCrypto (commonly known as LOCGame) is the first play-to-earn GameFi project of Rbl Labs, a company based in Amsterdam – it focuses on NFTs (Non-Fungible Tokens) and bringing their use case to the blockchain gaming space. LOCGame is a pay-for-play and strategy card game that features several metaverse and play-to-earn features on a 3×3 battle grid. The game’s metaverse is an acknowledgment of the history of the crypto space and the pop culture associated with them. It also features many instantly recognizable playable characters in the form of popular influencers and celebrities in the crypto space. Rbl Labs, the company behind the game, has stated that future metaverses will be coming to the platform and will be announced in 2022. At the heart of this ecosystem is the $LOCG token. Let’s understand a little more about the project, the token itself, and why this asset has tremendous upside potential. LOCGame: Creating A Buzz In The Crypto Space The first-ever blockchain game to feature NFTs was CryptoKitties. Several other games also utilize NFTs, with another prominent example being Ethermon, which tried to build on this concept. LOCGame leverages the same concept, allowing individuals to buy NFTs and use them in a game featuring thousands of other players. LOCGame is an NFT project repackaged as a collectible trading card game. Unlike many other collectible card game startups that cloned famous Hearthstone gameplay, LegendsOfCrypto developed its own unique core gameplay based on Triad Battle.  The game utilizes blockchain technology to create unique, non-fungible assets that pay homage to the members of the crypto space. Players in the game can win NFT items, while card owners are eligible for various rewards from prize pools. The game leverages DeFi and DAO governance and is powered by the Ethereum and Polygon blockchains. Rbl Labs won a grant for Polygon as their layer-2 will power the game core, its DeFi economy, and its DAO governance model. It also makes cross-chain playability possible, enabling low transaction costs and high transaction speeds and acting as a bridge to the Ethereum blockchain. Used in tandem, both Ethereum and Polygon ensure the stability of the LOCGame ecosystem. The $LOCG Token: Powering the LOCGame Ecosystem The $LOCG token is the native cryptocurrency that sits at the core of the LOCGame ecosystem. The token brings the platform and game to life, acting as a governance mechanism and allowing users to earn rewards by playing the game or staking. Let’s take a closer look to understand how the LOCGame token can be utilized: Indirect rewards in play-to-earn mechanics Payment mechanism Access to communities, discounts, and perks Staking for rewards DAO governance The LOCGame ecosystem includes: Native NFT marketplace connected to third-parties on Polygon and ETH: https://marketplace.locgame.io Collectible strategy card game with free-to-play, play-to-earn GameFi features In-game reward token that can be used to purchase and upgrade playing cards – stake to earn $LOCG and other rewards The $LOCG token NFT collectible cards – the Genesis edition is fully dedicated to crypto industry famous characters Upcoming games complimentary to LOCGame Charity and social responsibility – 10% of NFT sales go to a good cause via Little Phil The $LOCG token is available on top cryptocurrency exchanges such as Gate.io, HotBit, Uniswap, ZT, and KuCoin. It has a circulating supply of 50,209,206 $LOCG, with a total supply of 148,053,144 $LOCG and a maximum supply of 150,000,000 $LOCG. Why $LOCG Could Be a Good Buy The $LOCG token shows great potential at the moment due to several reasons working in its favor. Rbl Labs just launched the demo version of the game on Dec 16, 2021, where the community feedback is overwhelmingly positive. The next Alpha 2.0 will be released in early Q1 2022, where there will be a basic play-to-earn functionality introducing a new in-game token as well as new reward utilities for the $LOCG token. As the game evolves further in 2022, the utility for $LOCG will be expanded, thereby increasing the demand. The current market cap stands at only around $5.5 million, in comparison with $200 million+ market caps for working games such as Gods Unchained, Splinters, and other playable GameFi products. Typically, small caps are poised for huge growth once the product is launched. Additionally, with the support of major blue-chip investors (such as Signum Capital and NGC) and huge designer partnerships with artists from brands like Burberry and Prada, the $LOCG token is set to take off! The market is currently experiencing a frenzy in the play-to-earn space, and LOCGame will be at the forefront of this movement in 2022 with full functionality of the game on the horizon. With the launch of the platform scheduled in December, players will need to buy the $LOCG token before the game’s launch so that they can purchase NFT cards to play the game. The $LOCG token can also act as a payment mechanism and gain access to discounts, governance, and staking. Therefore, $LOCG has massive potential upside for 2022 and beyond. The Future of Play-to-Earn NFTs LOCGame is redefining the blockchain gaming space, bringing several new features backed by the platform’s cutting-edge technology. The LOCGame ecosystem is designed to give its users an immersive experience that takes a new spin on the utility of NFTs. On another note, LOCGame’s Genesis Edition NFT Sale took place on 4th of December, and with the launch of the game almost upon us, there’s an unbelievable amount of hype around the game. Add to this mix words of endorsement from behemoths of the crypto space, Bitboy, Crypto Lark, Crypto Stach and Carl the Moon, LOCGame promises to turn the NFT gaming space on its head. The $LOCG token has a lot going for it, set to soar to new heights.      

Binance’s NFT marketplace is introducing its NFT Subscription Mechanism, a new feature that claims to give buyers a fair shake.

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Personal antidote; in April I asked my older brother if he held any crypto. He said yes, that he sold some Eth and made a few hundred. I told him no sell only hold. He said he was 'opportunistic' and 'didn't have diamond hands'. – Just last week we were driving in the car together…
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