FAQs

listing a coin is not an indicator of a good investment, it’s an indicator of a *potential* good investment. It’s just that in this case, it *didn’t* pay off.

This week saw a lot of bagholders created as the Pepe mania took over. It all began when Binance announced that they would be listing the cryptocurrency PEPE. This news caused traders to go wild and the price of PEPE shot up by 110% within a few hours of the listing. Since then, the price has dropped by 24% in the past 24 hours and 70% from the Binance listing. This has caused the market cap to drop from 1.8 billion to 500 million.

It’s rather interesting how PEPE looks like a rugpull. Although it’s not confirmed, it’s a good example of why it’s important not to FOMO (Fear of Missing Out). Those who got in early were just waiting for an opportunity to dump on the traders who FOMOed in, and as a result everyone who rushed to buy is now down big, even those who cut their losses early still lost 10-15%.

Some users on the sub were also unhappy that the sub “prevented” them from participating in the big pump. This is a good reminder that when it comes to investing in cryptocurrencies, Binance listing a coin is not an indicator of a good investment. It’s an indicator of potential, and in this case, it didn’t pay off.

It’s important to invest responsibly, to take calculated risks and to research coins thoroughly before investing. FOMOing into a coin can lead to big losses, and it’s important to stay aware of the potential risks when investing. In this case, it’s clear that a lot of bagholders were created, but it’s also a good reminder to always invest responsibly.

Monero is a cryptocurrency that has become increasingly popular due to its focus on privacy and anonymity. As governments continue to move towards digital currencies, the need for privacy in our finances becomes more urgent. Many people may be unaware of the advantages and disadvantages of using Monero, but it is important to understand them before making a decision.

One of the main advantages of Monero is that it provides users with a high degree of privacy. Transactions made with Monero are virtually untraceable and its CoinJoin feature makes it difficult to identify individual transactions. Additionally, Monero has not been compromised, even when bounties have been offered for its discovery.

On the other hand, there are some drawbacks to using Monero. The USD is the most commonly used asset for illegal activity, and Monero has been put in a negative light due to the privacy it provides. Additionally, it requires a certain degree of technical knowledge to use it properly.

Despite these drawbacks, Monero is still a valuable asset for those who value privacy. As governments move towards digital currencies, Monero will become an increasingly important asset. Monero is a people’s coin, and it is important to ensure that governments cannot see every penny we spend. As CBDCs become more widespread, it is likely that Monero will become increasingly popular as people look for ways to keep their finances private.

Monero is a valuable asset for those who are concerned with privacy and want to protect themselves from government surveillance. It provides users with a high degree of anonymity and has not been compromised, even when bounties have been offered for its discovery. As governments move towards digital currencies, Monero will become increasingly important and it may be worth considering for those who value their privacy.

Just a few weeks ago, the Biden administration was floating a 30% tax on energy costs incurred by crypto miners. This was met with a lot of opposition from the crypto community, as it would have a huge impact on the industry. However, several days ago, Biden made a statement on the debt ceiling, saying he would not agree to a deal that benefits wealthy tax sheets and crypto traders.

We’ve also seen some shady moves and statements by the FDIC, Treasury, and Federal Reserve that seemed to be anti-crypto in nature earlier this year. Whether these were intentional or not, they still created a lot of uncertainty in the crypto space.

Despite Biden’s prior statements, the current Bill to raise the debt ceiling does not include the Digital Assets Mining Energy (DAME) tax, which was to implement the aforementioned 30% tax on crypto miners. Although much of the content of this Bill has already been pre-approved by the leadership of both parties, this obviously stands in contrast to what Biden said previously.

For all the talk and bluster by the Biden administration about coming for those who use crypto to evade taxes, they have done very little to actually implement measures to prevent this supposed tax evasion. This is likely because the reality is that crypto is such a small part of the overall tax evasion landscape that they would probably spend more money implementing these anti-evasion systems than they would recover from using them. As the IRS Chief has said, the total tax losses from evasion is around $1 trillion, while the total crypto market cap is barely a fraction of that.

The lack of any real action from the Biden administration has been a huge relief for the crypto community, as they can continue to operate without the worry of a burdensome tax. However, it’s still unclear if this will be the status quo for the foreseeable future, or if Biden will eventually make good on his promise to come for those who evade taxes using crypto.

It all started with a nut. 10 days ago I discovered Dextools, a website that featured a page called Live New Pairs. On this page, those looking to make a quick buck in the crypto market could find brand new shitcoins that had just been released. I figured, why not? I’ve been scammed before and bought into honest but failed projects before, so why not take a chance with a new coin. Little did I know that this coin I had chosen, NUT, would be a scam. Minutes after I made my swap, the liquidity was drained.

Angry and curious, I decided to investigate who had scammed me with NUT. I was able to backtrack the origin of the scammer, who I dubbed Shitrugger, to a Bybit account (a CEX blocked to US customers). As I investigated further, I discovered that Shitrugger had created and rugged 5 shitcoins on the same day that I had bought into NUT. In the three days following, Shitrugger had gone on to create 20 additional shitcoins.

I became obsessed with tracking and exposing Shitrugger’s trail of shitcoins. By monitoring the activity on Dextools, I was able to keep tabs on his movements and alert the crypto community whenever he released a new coin.

Though I was never able to get my money back from NUT, I was able to warn others of Shitrugger’s scam. Hopefully, my efforts have prevented others from falling victim to his schemes and saved them from losing their hard-earned money.

Shitcoiners minting unbacked coins? A billion seconds is 31.5 years, a trillion seconds is 31,710 years—that’s mindboggling. It begs the question, if we’re pumping all this capital into the market, won’t that cause more inflation, more tightening, and more debt? We live in a finite world with finite resources, so it’s important to keep a finite amount of money in the system. What’s worse is that it seems like there are no budget caps planned for 2025.

This could be why Bitcoin is on the rise—people are trying to buy up as much as they can before the government runs rampant with inflation. It’s no wonder the rest of the world is looking for a way to ditch the US dollar.

It’s amazing how the government can deliberately stoke the flame of inflation, then blame everyone else but themselves for the problem. What a clown show! But if you think that’s bad, buckle up and kiss single digit inflation goodbye. The US GDP for 2022 is estimated to be $25 trillion, and the government is printing $4 trillion to address the crisis. That’s more than a sixth of the entire US market cap in 2009!

It’s a complete farce. Not to mention, it’s hard to believe that $4 trillion is enough to cover the cost of the pandemic. When did they approve it? And two years seems to be a bit of an over-optimistic timeline.

It’s clear that the US is trying to buy up the world while they can. Though it’s a sustainable policy in the short-term, it won’t be enough to fix the underlying issues for the long-term. The only way to break free from the cycle of inflation and debt is to find a new way to manage resources.

Navigating the world of cryptocurrency is still a challenge, even after two years in the space. Every transaction requires a long, human-unreadable address, a gas fee set up on your own, and slow transaction speeds. When a transaction gets stuck, only the more experienced users know how to cancel it. Bridging one coin or token to another chain is often confusing. Approving MetaMask prompts without a thorough understanding of what they mean could lead to approving malicious smart contracts. Revoking smart contracts is another concept few people are aware of. Cold, hot, and paper wallets can be difficult to understand, and many people default to custodial wallets for their ease of use, even though self-custody is much safer. Knowing the difference between a coin and a token is another challenge, and with tokens often existing on multiple chains (such as USDT on ETH, TRON, and BSC), sending funds to friends and family can be complicated. On top of all that, cryptocurrency ticker names are often confusingly similar.

It’s no wonder that, with all of these challenges, cryptocurrency hasn’t seen mass adoption yet. After all, the internet was difficult to understand once too, but now even grandmas can surf the web. If crypto developers can make the technology easier to use, maybe even grandpas will be able to use it.

Sustainable”Electricity Mix May Be Declining figure should be taken with a grain of salt 2) Elon has a history of making comments that don’t necessarily reflect reality, and his comments about Tesla continuing to accept Bitcoin payments, while well intentioned, should be taken with a grain of salt

Bitcoin has been gaining a lot of attention lately, especially after Elon Musk’s announcement that Tesla will continue accepting Bitcoin payments. As with any new technology, there are both pros and cons to consider when it comes to Bitcoin. Here, I’ll provide a summary of some of the major arguments for and against investing in Bitcoin.

On the plus side, Bitcoin has become an increasingly popular form of payment. It’s fast, secure, and can be used globally. It also offers a degree of anonymity, as transactions are not linked to any particular person or organization. Additionally, Bitcoin is decentralized, meaning no single person or entity can control it.

On the downside, Bitcoin is still relatively volatile and unpredictable. The price of Bitcoin can fluctuate significantly over short periods of time, which makes it a risky investment. Furthermore, Bitcoin transactions are not reversible, meaning that if you send Bitcoin to the wrong address, it’s gone for good. Additionally, Bitcoin mining is energy-intensive and can contribute to environmental damage.

It’s important to remember that when it comes to investing in Bitcoin, you should never trust anyone’s word, especially not Elon Musk’s. Elon has been known to make claims which may not be true or may not reflect reality. Additionally, the findings from a recent study conducted by the Cambridge Centre for Alternative Finance, which stated that 37.6% of electricity used by Bitcoin miners comes from sustainable sources, should be taken with a grain of salt since the study hasn’t been verified by a reputable third party yet.

Finally, it’s important to remember that Bitcoin is still an emerging technology and is not a guaranteed way to make money. It’s best to be conservative and do your own research before investing in Bitcoin, as it’s still a relatively volatile asset. Additionally, never trust anyone’s word when it comes to investing in Bitcoin, especially not Elon Musk’s. Bitcoin hodlers are independent and make their own decisions, and it’s important to remember that.

In conclusion, Bitcoin can be a great investment for those who understand the risks, do their own research, and are conservative with their money. However, it’s important to remember that Bitcoin is still a relatively new technology, and investing in it comes with risks. Additionally, it’s never a good idea to trust anyone’s word, especially not Elon Musk’s, when it comes to investing in Bitcoin.

Bitboy, a famous crypto influencer, recently doxxed his own address, 0xf89e0b9fb3F419d5982386B5923e2F7C2e73f3a2. Along with the address, Bitboy also shared a transaction hash which showed an irony that nobody was surprised at. According to him, he was making a deal with @eth_ben for 1000 ETH and 250k paid in stablecoins over 6 months. He claimed there was a backer who was taking longer than expected to move funds from traditional accounts.

It’s important to remember that famous people in the crypto space can’t be trusted to keep their promises. Bitboy has done this before, and it’s a lesson to stay away from crypto influencers. They aren’t our helpful friends, and they may end up shilling something that doesn’t work out.

$Ben is a cryptocurrency that was mentioned in the post. It’s unclear what it is exactly, but it’s clear to stay away from it.

It’s not surprising that Bitboy would try to spin the situation in his favor. He’s proven to be a psycho, and nobody should believe anything he says.

Overall, it’s important to be careful when it comes to following crypto influencers. They are not always trustworthy, and they can make promises they can’t keep. As the crypto space continues to grow, it’s important to research investments thoroughly and be aware of potential scams.

As a developer, I’m really impressed by this latest development. For those who don’t know, ordinals are a way of writing data into individual satoshis, which is then stored on the blockchain. It’s similar to an ERC-20 NFT, but it can also store sound and video, or in this case, a whole videogame. The game in question is a DOOM clone, which has been inscribed into the Bitcoin blockchain using ordinals. You can view and play the game off your own browser with the link provided.

DOOM is one of the most ported videogames across systems for things like homebrew modding. To give a brief explanation, the developer inscribed certain byte-code into the blockchain using ordinals. When this code is opened using a browser, it is translated to a bunch of HTML CSS and Javascript that the internet browser reads and interprets as a playable DOOM videogame clone. It’s important to note that this code probably only works with a PC browser, as a mobile browser might have some issues.

As a nerd, I think this was worth a mention! It’s amazing to see the power of ordinals and the blockchain being used to create something unique and exciting. It’s also a great way to explore the possibilities of new technologies and push the boundaries of what we can do with them.

It’s incredible to see the power of borderless technology like Bitcoin, and how it can have an even bigger impact than we could have ever imagined. With the recent news that Strike is moving its global headquarters to El Salvador, it’s a clear example of the potential of this technology beyond the artificial borders we create.

Strike has been a great tool for me to use to dollar-cost average (DCA) my investments in Bitcoin. It’s an awesome app that harnesses the power of the lightning network ⚡️, and I plan to visit El Salvador during the Christmas holidays. With my background – my nanny was from El Salvador – it’s almost ironic that I could end up living there one day.

This news is quite significant when you consider that the US is actively discouraging the development of Bitcoin and other cryptocurrencies. It’s almost as if Uncle Sam is stuck in the past, while the rest of the world is embracing this new digital economy. People will naturally go where the money is, and whichever countries are willing to permit this technology will benefit from it.

I’m personally depositing part of my paycheck into Strike every two weeks so I can buy more Bitcoin, and then I move it to a cold wallet. It’s a shame that the US is not taking advantage of this technology, especially when you consider all the fraud and corporate piracy that is taking place. It’s clear that the US leadership is more interested in short term profits than the well-being of its people.

It’s encouraging to see countries like El Salvador embracing the world of cryptocurrency, and it just goes to show that with the right attitude, people and countries can make the most of this technology.