The Wikimedia Foundation has decided to discontinue direct acceptance of cryptocurrency as a means of donating … we are making this decision based on recent feedback from [volunteers and donor] communities
You could have been quoting a little more from that news. “Cryptocurrencies are extremely risky investments that have only been gaining popularity among retail investors particularly in recent times, and I do not think we should be endorsing their use in this way. In accepting them, I believe we are mainstreaming the usage of “investments” and technology that are inherently predatory,” the proposal read. Although I find this overly harsh words against crypto (yet another naysayer), the actual points are clear: * Wiki seems to have received very few donations in crypto (which is normal, since very small % of world population uses crypto, so it's imho not a valid problem) * Wiki doesn't want to look like they would be endorsing cryptocurrencies, which actually I cannot argue However, seeing Wiki as a pretty "hungry" organization - they do put big banners begging for money now and then - I think that's a losing move on their side. Although they've received "only" 130k worth of crypto as donations, it's much better than nothing. However, it might help wiki collect more donations made in cryptocoins if they endorsed and encouraged their use. Similar to bitcoin, wikipedia exists through the collaboration of people around the world who work together as a community in an open environment and without a leader. I shake my head because it should be the wikipedia community that should be recognizing bitcoin as a medium of payment. |
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@Kakmakr. Are you implying a possibility that bitcoin might return to the hashrate levels before 2014? This should be a concern because would the institutional investors have a similar level of confidence in holding billions of dollars in bitcoin if that would happen? If the level of confidence in bitcoin drops, it might also have a negative effect on the price. Also, I might be mistaken, however, it was 2014 that the popularity of Asics began, wasn't it?
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Also, I have read some comments that Fantom's community is still very much strong. It might be still strong presently, however, as more users leave the platform this strong community will not be anymore. The rugpulls of Andre Cronje and Anton Nell which took more than $1billion out of the platform and the loss of trust will not be easily earned again. We cannot be certain how long until Fantom could recover. Fantom enjoyed surging growth alongside other low-cost Layer 1s last year, also attracting popular DeFi developer, Andre Cronje, to pledge allegiance to the chain. However, in early March, the sudden resignations of Cronje and Fantom Foundation member Anton Nell sent prices of the network’s top assets tumbling.
But many users remain cautious. Breezy08463387 said they withdrew all of their assets from the Fantom chain and are “never touching FTM again.”Source https://thedefiant.io/fantom-whale-liquidations/ |
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There’s this interesting take by Nic Carter(if I remember correctly) — whereas he said that if it’s the case that the fees wouldn’t be enough, it’s likely that entities (including governments) would be running their own miners even at a loss simply because they need the network to be running well.
^I’m paraphrasing but yea. Haven’t thought about it really well but it’s no doubt interesting.
However, wouldn't a change in bitcoin's monetary policy be a much more realistic solution than hoping for Nic Carter's take to occur in or is talking about this a heresy also? The developers and the community should begin to open their minds to any type of technical solution in case the fees might really not be enougn for miners to secure the network. Grin's developers have been addressing this problem of bitcoin already. https://docs.grin.mw/wiki/extra-documents/monetary-policy/ |
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I don't think there is a perfect system here, even the best of them experiences issues. What is important is that this kind of projects will have to learn from this mistakes and try not to make the same in the future.
No doubt that ETH 2.0 is the top altcoin, but what if there is a alternative like SOL and others? isn't it everyone will benefit from it?
Having an alternative for Ethereum is clearly not the problem. The problem is if the alternative blockchain has a history of outage causing the community to ask if the alternative is a benefit or is it a liability in the cryptospace. If you are looking an alternative, I reckon the best is still Binance smart chain. Their development team centralized the block producers to 21 nodes for speed, however, the platform never had similar problems as Solana. |
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For anyone interested, you can start using this functionality by adding this bot[1]. Isn't ton foundation owned by Telegram though? It would've been much better if they added this whole thing directly to Telegram, instead of just making a bot for it since there are already many of them out there. [1] https://t.me/walletI like the bot implementation very much. It is a new but different way on how to interact with cryptocoins. It also makes the Telegram app stick more to it being a messaging app instead of turning it into a cryptocoin wallet app. Also, it makes the app stay to the purpose that coins held in Telegram are for sending and receiving not for holding. @BitMaxz. It was big news 3 years ago where the SEC blocked them and declared they were issuing illegal securities. However, a group of developers forked the project and made it opensource. The SEC are left shaking their heads hehehe. |
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I am starting to see the drop of NFTs, especially with the p2e NFTs. Those that have cost $2k for that NFT to be able to start their p2e journey were done by almost 99% or close to that. And if we hover through the bear market, a lot of it will evetually die. Also with those popular NFT, we are going to see how strong they are. But the same as the trend of Ico, when bitcoin has entered bear market, they no longer can stand the heat of bloods while on bear.
Much of them was hype and the model in which they base the profitability of players is not very sustainable. It would need for new players to come in every month, however, this is impossible. Look at where the floor prices of Axies presently are and if the game is still profitable to play for the nongamers. I remember a picture where there was an old man who said he wished that Axie Infinity will not go away. He might not be playing anymore, I reckon. It was a bad model based on profitability instead of building a sustainable community of users. |
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Imo cosmos ibc is better than all chains mentioned, but then again nothing in this world is perfect, so I assume as it gets more use it's cons will be revealed in due time.
All blockchain platfroms will have their own pros and cons. I reckon one of the biggest cons in Cosmos is it is harder to deploy a project compared to Ethereum or Binance smart chain where developers only need to know solidity so they can deploy their smart contracts. In Cosmos it is something similar to deploying your own blockchain if I am not mistaken. |
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@makishart. The Solana Foundation made some instructions in how to block NFT minting bots to fix the problem. I reckon this is very dangerous because it creates a setting for block producers on how easy it would be to create a storyline for censorship. What is spam and what is not? Anything censored only because it is considered spam should be very concerning.
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What is sad about these layer1 projects is that investors think that all these dumps are opportunity to buy at cheaper price. Nxt is still around up to this day even when close to 10 years ago they were already here like NEM.
I'm however not going to look at the top layer1 project to like the two, SOL, Matic or AVAX will likely going to continue to be used like ETH and BNB but some inferior ones might not survive when delisted.
I was one of the people who has speculated that Solana might be the Binance smart chain killer hehe. However, everyone I has witnessed how very wrong that prediction was. Solana has again suffered another outage that lasted for 7 hours. A platfrom like this where design weaknesses cause outages will not have longterm support from developers and users. Those VCs will also certainly dump their Solana tokens when their unlocks begin this year and they might never return. Solana stakeholders rushed to right the network Saturday night after what one insider called “insane amount of data” flooded the proof-of-stake chain, knocking validators out of consensus and grinding still block production.
For reasons not yet clear, this swarm pushed validators out of consensus. Block production became impossible and the network went dark at 4:32 p.m. EST. By 11:00 p.m. EST, validators (coordinating through Solana’s Discord channels and a Google doc created by one of the validators) restarted the cluster at slot 131973970.
Unlike last September’s 17-hour outage, Saturday’s hard fork restart did not resolve with new-and-improved code populating across the validators. They simply picked up where the network flopped seven hours prior.Source https://www.coindesk.com/tech/2022/05/01/solana-goes-dark-for-7-hours-as-bots-swarm-candy-machine-nft-minting-tool/ |
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Also, go to table 3. These people who have been continuing to use the Chivo wallet appear to be using it for payments made through American dollars. The government of El Salvador might have created their own dollar stablecoin instead of bitcoinizing their country hehehe. It appears Jack Maller's original plan for Strike in using USDT might have been more preferable for the people. |
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A lot of us definitely misjudge Shakur because he is young and lack of fight experience but surprisingly he is much fast. His hands is just too quick to throw not giving Oscar the time react and a punch lands his face all the time. The book makers are right about their odds in this fight. Shakur is pretty much a hybrid, I think he can beat Mayweather with such agility. He made Oscar look very rookie.
I very much agree. If you trusted the sportsbooks and made a bet on Shakur Stevenson to win with a decision which had the odds of 1.51 only minutes before the fight began, it would have been an easy money hehe. This appears to be a common occurrence in many fights in the sport of boxing. This is also certainly why I always lose money hehehe. Similar to Canelo versus Bivol, my money might lose again because it will be on Bivol. |
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When I read the subject, I thought right away it was now official that there will be Crawford vs Spence fight.  It's no doubt that it was a much-awaited fight for most boxing fans. For now, the status is just pure speculation. I will just refer to what Spence Jr. said prior to his fight against Yordenis Ugas that he will settle with 2 fights before moving up. The first was done and won it vs. Ugas and the second one should be vs. Crawford as I don't think it's anyone else aside from him. It might only be a speculation today, however, I am having a strong suspicion that Errol Spence's team and Terence Crawford's team are already thinking that the promoters are ready to bring the money, the fans are ready to spend the money and they also each other speculate that both teams are ready to accept a deal after what these boxers showed in their last fights. @wheelz1200. My first choice to win was also Crawford but after witnessing Spence win versus Ugas with a technical knockout, I am not certain anymore hehehe. It might be another bet for the underdog, however, if the odds are very fair for the 2 of them, 1.90 vs. 2.00 for example, the pick might be Spence heheheheeh. |
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@Kakmakr. Agreed. Similar to any type of new technology that causes a foundational change on how we were doing things, there will always be the traditionalists like government or an outdated corporation who will fight this development to maintain the old order of things. In the cryptospace, it is also happening. There also many cryptotraditionalists who are rejecting Defi, ICOs and NFTs.
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@kidbounty. The layer 1 blockchain projects with strong communities are only Ethereum and Binance smart chain. I reckon if you still hold tokens in those other blockchains with weaker communities, it might be good for you to sell them now. Much of them will not be noticed on the next bull market where it will be the newer projects that will get all the hype.
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@PlataOcrypto. Do you as issuer of the NFT have a marketplace for them for buying or selling? It would be very helpful for potential investors to see a floor price and it will certainly create more interest if the NFT can be sold at higher prices in Opensea or Looksrare. In any case, Putty Finance might be useful for you and the holders of Platao's NFTs. I reckon maybe NFT issuers can work with them. https://testnet.putty.finance/https://docs.putty.finance/overview/introductionDefi options and other Defi platforms to extract value and create liquidity for NFTs might be the future of services like yours. |
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After the listing of Coinbase's shares on the stock exchange, we saw more transparency, although it is not a good thing, but the central platforms get a lot of information and may contribute to the manipulation that sometimes occurs.
If we compare Binance and coinbase in listing policies, Coinbase is better, But does anyone know any information about the assets that will be listed? It's the first time I've heard all of them.
I have heard of only Media, Stepn in Solana, the stablecoins and the tokens of Defi services Dappradar and Dextools. There others appear to be going to obscurity or will go to obscurity in the next bear market. In any case, the chosen token by Coinbase is Stepn. It is the first project to release a token for the cryptospace's new move to earn storyline where users walk, jog and run to earn tokens. This is yield farming through exercising hehehe. |
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Elon "did" managed to influence bitcoin, mainly doge but I am sure some of that helped bitcoin price to go up as well, specially that 1.5 billion dollars purchase news. Twitter purchase could impact it as well if he somehow integrates it into twitter as well but aside from that I do not see any connection. Twitter is already filled with crypto influencers, unless something changes about that subject, leaving it as it is shouldn't really be a big problem. Even the news of him trying to buy it increased doge which makes no sense, there will no sustainable increase but hypes like these, but it will always be temporary if he doesn't connect the two together.
The community should return to reality. Elon Musk made a margin loan of $12.5 billion to buy Twitter. He used $62.5 billion of stocks of Tesla as collateral for this. It is speculated that if Tesla dumps by 43%, Elon will have a margin call. This -43% dump is when the price of Tesla stock is $571. The American economy, similar to other countries' economies, might enter a recession. $571 per Tesla stock is very much a possbility if we enter a recession. What do companies do if they take risk and needs more liquidity? They sell assets. What is one of the easiest assets to sell that Tesla owns in their treasury? Assuming a starting value of $1,000 per share, the margin call comes at a share price of $571, at which point Musk would have to find $2.6 billion to lower the outstanding amount of the loan and bring the loan to value ratio down to the reset level. This could force the sale of some of Musk’s Tesla shares, putting downward pressure on the share price and lowering the collateral value further.Source https://seekingalpha.com/article/4503494-tesla-stock-as-collateral-to-buy-twitter-avoid-buy-the-dipAlso, there were articles that Michael Saylor has also made loans against Microstrategy's bitcoin as the collateral. |
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I reckon it might look very similar to the bear markets of the past where much of the other attempts of the old layer 1 blockchain projects have failed to help the growth of their ecosystems. Fantom, Atom, Avax, Terra, Algorand, Cardano might slowly enter obscurity similar to Nxt and Nem.
There will also be many failures of tokens issued in those layer 1 blockchain projects. The development teams of those projects might dump and leave the project or just leave and let the projects die. I also speculate that it might also be a similar occurrence in the NFT ecosystem. Teams will run out of money and leave.
Much of the gamefi ecosystem will also die with only a very few of those projects to survive. We are presently already witnessing this.
The projects that were created during the bull market will have their first token unlocks this year and next year which will cause more selling and dumping on their communities.
Also, the regulators will be coming and this will cause more fear and pressure within the cryptospace.
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What do I think about this news? After being tricked by the announcement of Do Kwon which might only be hype and the news about the Central African Republic's acceptance of bitcoin which might come only from sauces, I am beginning to notice something. There might be some whales out there who want to hype bitcoin out of desperation. This is what I think about this news. I am back to being the skeptical me. Call me the antagonizer again.
100% right. At least you learned your lesson about getting tricked by hype etc. Remember that even El Salvador was kind of a move by big bitcoin whales in the Miami conference. I don't think personally the president ever thought about it himself, the idea was just planted and they did everything, all he did was sign the presidential decree (obviously it had to be since the people never heard about it much to say even voted). We all need to be smarter than taking sauce  Bitcoin's recognition as legal tender or an official currency in many countries will be good, however, El Salvador and the Central African Republic being 3rd world countries, their implementations for infrastructure will be with many failures similar to El Salvador's Chivo wallet. This also does not make a bitcoin pump to a new all time high a certainty. An argument can be made that all the weak hype articles are only stories created out of desperation. I speculate a whole cryptospace market dump within this year. Everyone hyping for all time high on 2022 will be wrong. |
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