"Crypto for dummies": The how, what and why of using ... - cyptoranking.com

2024-05-13

Popular crypto exchanges(2023 Update) 2024-05-13
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Read more: Many crypto projects funded in 2021 still searching for success In order to discuss the incentives that miners face, we need to understand the core business models that miners deploy and the directional unit economics across the standard set of inputs. In the simplest terms, miners aim to produce bitcoin at the lowest possible cost. There are various methods of mining in existence today, each with its own costs, structures, and risks. For the purpose of this post, let’s present a basic overview of the inputs miners must consider and the subsequent capital expenditures involved: "Crypto for dummies": The how, what and why of using ...NEAR Protocol on the CoinMarketCap website shared details of its upcoming event, Nearcon 2023. It is an event that aims to educate and inspire the attendees about the Near Protocol, a layer-1 blockchain that provides speed, scalability, and developer-friendliness. “Sometimes, they will put fake dollars in that transaction and then you try to put them in an ATM in the US and they fail.”

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According to Hayes, mounting government debt, a large amount that needs to be rolled over, and diminishing productivity can only be addressed with money printing. While monetary expansion does lead to bull markets, the consequence tends to be high inflation. General Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.Ethereum Foundation Attacked During 1,700 ETH Sale The regulation of OTC derivatives in MalaysiaDSR rates are akin to a “marketing spend to increase the profits of the DAO,” Kazemian told Blockworks, arguing that Maker’s rates don’t track with the Fed’s. Kazemian said FRAX is perfecting the treasury-exposed stablecoin. US Government Canceling Student Debt Receives Mixed Response

Source: AdobeStock / REDPIXELDecentralized social network Friend.tech has generated over $1 million in fees within just 24 hours of its release, outperforming well-established players like Uniswap and the Bitcoin (BTC) network.According to data from crypto data aggregator DefiLlama, Friend.tech has generated $1.12 million in fees within a single day, and a total of $2.8 million since its inception. As of now, the platform has accumulated $818,620 in total project revenue, facilitating over 650,000 transactions on the social platform with more than 60,000 distinct traders. The driving force behind this project is believed to be a developer operating under the pseudonym Racer. Racer has previously designed social media networks such as TweetDAO and Stealcam, both of which were based on non-fungible tokens (NFTs). With Friend.tech, Racer aims to attract crypto influencers with substantial fan bases, providing them the opportunity to earn royalties from trading fees. Additionally, the platform is also seeking to strengthen relationships between Web3 projects, venture capitalists, and important figures in the crypto industry.Launched as a beta version on August 11, Friend.tech allows users to tokenize their social networks by purchasing and selling "shares" of their connections. This feature enables individuals who acquire someone else's share to communicate privately with each other. Friend.tech applies a 5% fee on transactions, with the owner profiting from the trade spread. The project is built on Coinbase's layer-2 network Base.Friend.tech's Huge Success Sparks ConcernsThe massive success of Friend.tech has sparked discussions about its revenue model, risks, and future potential. Ignas, a pseudonymous DeFi researcher, has pointed out that the platform's current business model relies solely on trading fees and does not consider the number of shareholders involved. Additionally, he raised concerns that controversial personalities might exploit the system to earn higher fees or even use fear, uncertainty, and doubt (FUD) as a strategy. "So controversial personalities might earn more or even creating FUD will be used as a strategy to earn fees," the user said. Lux Moreau, the founder of Talk.Markets, also emphasized that the increasing prices of shares may lead to the formation of smaller groups or alternative group creations within the platform."As shares get sold, the prices also significantly increase. For example, the 500th member pays around 15.6Ξ, the 250th member pays 3.9Ξ, and the 100th member pays 0.625Ξ," the crypto veteran said in a tweet last week. More worryingly, Twitter user Spot On Chain has noted that Friend.Tech’s API can be used to extract sensitive data from the platform, like showing the wallets created by the users. Soon after the tweet, a core developer for Yearn Finance, published a list of 101,000+ users with their wallet address and Twitter username. Additionally, the developer claims that every user on the platform had (unknowingly) given Friends.Tech permission to post on their behalf on Twitter.DeFi Lender Exactly Protocol Exploited For $12 Million Later in the thread, another veiled shot at critics. "It's especially galling because some competitors have internal trading desks that are an (open) secret, which specifically use confidential customer information to manipulate their own markets," Bankman-Fried wrote. What was the first decentralized exchange?A good blockchain-based game will still have to overcome a range of user-experience hurdles, Wyatt says. “I’m going to create this wallet and seed phrase, and then I’ve got to link it over here. And then I go to a phishing scam and it’s gone.” Earlier this year, the city of Changshu, in Jiangsu Province, said that “all public officials and employees of state-owned enterprises” would be paid in digital yuan starting in May 2023.Exclusive: Reserve Bank of Australia’s Approach Towards Issuing eAUD is “Multifaceted,” Says Canvas Head David Lavecky

According to Luca Netz, the CEO of Pudgy Penguins, NFTs should not only be limited to the digital world but also have a broader presence, indicating the burgeoning toy collection launch, which went right through the ongoing NFT market plunge.An NFT that acts as a crypto wallet: the ERC-6551 standard Since June, the Bancor price has also increased alongside an ascending support line. BNT bounced at the line on October 8, increasing by 52%. Huobi Global talking to Malaysian regulator about being put on investor alert listJudge Denies SEC's Appeal: US Judge Analisa Torres rejected the SEC's appeal, upholding a July ruling that favored Ripple. This ruling stated that Ripple's XRP sales from years ago did not constitute an offer of investment contracts. Charles Hoskinson. Source: a video screenshot, Bloomberg/YoutubeCardano’s founder Charles Hoskinson has compared the embattled co-founder of FTX to infamous ponzi scheme boss, Bernie Madoff.In a post on X (formerly Twitter), Hoskinson stated that Sam Bankman-Fried’s actions can be likened to Bernie Madoff but the former is now getting a free pass by the media.“It's extraordinary to me that the Bernie Madoff of my generation is getting a free pass by the media. It really does show you how profoundly corrupt things have become especially if you have the right friends.”The Cardano founder also criticized the attention goiter from Michael Lewis’ book and the attention it can have on the trial calling it an apology tour before adding that there are groups of elite who want Bankman-Fried exonerated. “We saw this with the kid gloves treatment by the New York Times and now a book that’s an apology tour. It’s extraordinary to me that the Bernie Madoff of my generation is getting a free pass from the media. It does show you how profoundly corrupt things have become especially if you have the right friends.”Bernie Madoff is described as the mastermind of the largest Ponzi scheme worth $64.8 billion without initial suspicion and served as a Chairman of tech-driven Nasdaq. On the other hand, SBF’s FTX was the third largest exchange before its implosion in November 2022 with several allegations of misappropriation of user assets and luxury purchases.Similar calls made by the community Hoskinson is not the first to make calls against sympathizers of SBF as many of such have been made following the popularity of the trial and many narratives that he had simply made a mistake. Pro-web3 lawyer John Deaton expressed similar views over the weekend stating that those who are sympathetic and view SBF as a well-intentioned individual are not fit to manage public wealth.He also adds that his parents were complicit in the events while others within the community stated that people who viewed him as innocent benefited during events. SBF was long regarded as the hero of web3 before the fall of FTX and made several high-profile political donations some of which have been returned to the company to be distributed to creditors.Trial and bankruptcy show luxury spendingSo far, the bankruptcy team in charge of FTX has amassed $7 billion in assets to be distributed to the creditors. From the investigations, SBF has been accused of seven counts involving fraud based on the misuse of investor funds.Amongst many, there are allegations of acquiring luxury items including private jets which the Department of Justice (DOJ) is seeking a forfeiture.Other expenses include $300 million in real estate, $80 million for politicians, and millions on ads including $100 million in stadium naming rights. Consultant's Heroic Act: How a Personal Wallet Saved $400 Million During the FTX Hack

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