Monday, August 29, 2022

Tuesday, 30th August 2022

The Daily Spin. Tango Tuesday Edition. With a lot of buzz hovering throughout the crypto industry amidst big moves by the regulatory side, central banks and power partnerships being formed — not to mention, the upcoming ETH Merge – here’s our round-up of curated news and opinions (surely biased) from the world of Blockchain, keeping you informed of the most trending, in-the-know, and controversial topics…all in the name of transparent, information dissemination to keep you curious, inspired, and clinically sane…

Ongoings at Coinweb

“Storm in a Teacup” by Toby Gilbert on CoinTelegraph
https://cointelegraph.com/news/regulators-have-a-weak-case-against-ftx

Op-Ed by Toby Gilbert: “Why Maximalists are Wrong”
https://cryptoslate.com/op-ed-why-maximalists-are-wrong-the-future-is-cross-chain/

Photos from the 2nd Coinweb Fireside Chat: “The Bear Has Awoken” Aug 16
https://twitter.com/coinwebofficial/status/1562719016476520449?s=21&t=1dT6XZUzjGaSovGJ0y8Wvg

First Coinweb In-house AMA Recorded on Aug 24
Video in post-production

On the Radar

EOS Yields & TVL Rewards Begin, Aug 28
Seedify.fund (SNFTS) Airdrop, Aug 31

42 Geeks Networking Event, Sep 3

The Ethereum 2.0 Merge, Sep 10-19

NEARCON - Building Business Behind the Hype, Sep 11-14 (Lisbon)
MetaVSummit, Sep 14 (Dubai)
Blockchain Life, Sep 14 (Moscow)
AEternity Universe 2, Sep 15 (Unstrut)

Token2049, Sep 28-29 (Singapore)

Thailand Crypto Expo, Oct 6-9 (Bangkok)

On the Block (chain)

Bitcoin Exchanges Outflows Top $1bn Daily While Ethereum Sees Net Inflows
https://cryptoslate.com/bitcoin-exchange-outflows-top-1b-daily-while-ethereum-sees-net-inflows/

Antpool Reveals Plans to Drop Ethereum EthHash Support Plans to Keep Mining ETC
https://news.bitcoin.com/antpool-reveals-plans-to-drop-ethereum-ethash-support-plans-to-keep-mining-etc/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Analyst: New Bitcoin Alert Citing Historical Price Action in September
https://dailyhodl.com/2022/08/29/top-analyst-issues-new-bitcoin-alert-citing-historical-crypto-price-action-in-september/

NFT Gaming Project Raised $15.5m in April and Has Spent It All
https://www.reddit.com/r/CryptoCurrency/comments/x0e7d1/an_nft_gaming_project_raised_155m_in_april_and/

Multiplayer Browser, “Stack” Announces Lifetime Licenses as NFTs
https://cryptoslate.com/press-releases/multiplayer-browser-stack-announces-selling-lifetime-licenses-as-nfts/

Eminem & Snoop Doggs BAYC Inspired VMA Performance Slammed as Money Grab
https://cryptoslate.com/eminem-and-snoop-doggs-bayc-inspired-vma-performance-slammed-as-money-grab/

Competitive Landscape

Defiant: What is Polygon?
https://www.thedefiant.io/what-is-polygon

Polygon Founder Raises $50m for VC Fund Built By Web3 Founders
https://cryptoslate.com/press-releases/polygon-founder-raises-50m-for-first-vc-fund-built-by-web3-founders/

Celestia: Introducing Sovereign Rollups to Devs
https://blog.celestia.org/introducing-sovereign-rollups-to-developers/

Li-Fi: The Declassified Survival Guide to Bridges
https://lifi.substack.com/p/lifis-declassified-bridge-survival

The Interoperability Trilemma
https://blog.connext.network/the-interoperability-trilemma-657c2cf69f17

FinTech Makes Moves into Auto and Home Repair Industries with FixxFi
https://news.bitcoin.com/fintech-makes-moves-into-the-auto-and-home-repair-industries-with-fixxfi/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

World

Dubai Regulator Announces Virtual Assets Marketing Guidelines
https://news.bitcoin.com/dubai-regulator-announces-virtual-assets-marketing-and-advertising-guidelines/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

CoinEx Charity Delivers Warth to Sick Children in Venezuela
https://news.bitcoin.com/preserve-childhood-with-love-coinex-charity-delivers-warmth-to-sick-children-in-venezuela/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Russian Crypto Scammers Go Offline
https://news.bitcoin.com/russian-crypto-scammers-go-offline-open-offices-central-bank-worried-about-trend/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Crypto ATM Company BitBase Prepares to Open Ops in Venezuela
https://news.bitcoin.com/crypto-atm-company-bitbase-prepares-to-open-operations-in-venezuela-this-year/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Singapore to Consider Stricter Crypto Regulations to Protect Retails Traders
https://cryptoslate.com/singapore-to-consider-stricter-crypto-regulations-to-protect-retail-traders/

Top Privacy Coins Saw Fewer % Losses than Most Tokens This Week
https://news.bitcoin.com/the-top-privacy-coins-saw-fewer-percentage-losses-than-most-tokens-this-week/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Thought Leadership

Jake Chervinsky on Tornado Cash
https://newsletter.thedefiant.io/p/-jake-chervinsky-on-tornado-cash?utm_source=substack&utm_medium=email

CryptoLeaks: Case 1 (FTX, SOL, ICP)
https://cryptoleaks.info/case-no-1

CME: What is Price Discovery? (2mins)
https://www.cmegroup.com/education/courses/introduction-to-futures/price-discovery.html

A Rebuttal to Jordi Alexander’s “Is the Merge Overhyped?”
https://newsletter.banklesshq.com/p/a-rebuttal-to-jordi-alexander-and-6d2?r=1ivajd&utm_medium=ios

https://preview.redd.it/5c3tmq3irrk91.png?width=732&format=png&auto=webp&s=ae98aaf00695d6f3ea73821b9c3678f91f443e5c

I want to explain the true value of NFTs.

Especially when there’s so many scams, rugs, and people seeing it as a risk and not be able to understand the technology of Non-fungible tokens.

I made a thread so if anyone ask what’s so great about it I can point them to it

NFT stands for Non-Fungible Token.

Let’s break it down so it’s easier to understand

Fungible - able to replace or be replaced by another identical item; mutually interchangeable.

Token - can be used a term of currency or a voucher that can be exchanged for goods or services.

Bitcoin is fungible since you can trade, buy , sell or divide into smaller portions and put back together and it will be identical as any other Bitcoin.

Pocketcows is NON Fungible since the Token you own CAN’T be replaced and so there will only ever be ONE. It has a Unique ID!🪪

However, there’s more uses a token can provide by adding ADDITIONAL utilities!

The token part of the Non Fungible Token itself can be used like a PRODUCT you can buy, trade, or just keep. Just like any other product we buy in real life!

“So what’s the point of an NFT if you can just buy a product in real life or on a website?”

The Non fungible token is different in that it’s located and lives in the BLOCKCHAIN! Where it will keep track of all NFT transactions and lowers the risk of losing it!

Let’s go through some scenarios of the security on ownership of official records.

If I was to barter products or services and make transactions, there’s usually no record of it unless I write it down as a paper receipt.

The paper can be burned and be destroyed!

Next step on security would be a local hard drive or online.

The hard drive can be destroyed and exploited by hackers and the servers online can be shut down and exploited as well.

So what’s next when it comes to securing records of transactions or data?

The BLOCKCHAIN!

“WOAH!? Blockchain?!! That’s too technical for me.” 🥴

Well it’s really not! Let’s break it down ⬇️

“Block” is like a box or container used for storage or transportation ! 📦

“Chain” is a sequence of items in the same type of forming. Just like a metal chain! ⛓

BLOCKCHAIN is just a chain of blocks connected to one another in order of when it was created.

What’s amazing is this chain can never be edited or broken!

Once a block has been created it goes on the chain and creates a time stamp of what occurred during that transaction!

“Why is this important?”

Since the blockchain acts like an online Ledger. It will Keep track of the Non Fungible Token when a transaction is created between 2 individuals! Always keeping tabs and never losing the information within.

“So what does an NFT do on the Blockchain?”

An NFT Is like a folder 📁. It’s a token which can hold data, information and utilities inside of it forever.

So this folder keeps it’s data in the blockchain to record transactions so they will be recorded and never be lost

“So, what’s with all the JPEGS?”

You can add art data in the “folder” to make it look more attractive visually so when you look at the token on a platform such as Opensea or a crypto wallet it shows data that’s located within the token as ART which can be used in collections.

“Can’t I just copy and paste the art and save money and the trouble?”

Yes you can!

However, you won’t be able to copy the folder the data is inside of or effect the path the folder takes on the blockchain. So you’ll have a copy of the data but never the ORIGINAL Folder.

Just as anyone can copy the Mona Lisa portrait from Google images , draw a copy, or take a picture.

They still won’t have any ownership to the original piece and it won’t hold the same value.

They are not the same!

“I can just buy art from the artist directly then.”

You can!

However, NFT technology allows artists to be able to record art as data and have a more efficient transaction history of the products they create.

Since it’s on the BLOCKCHAIN, you can check to see the Legitimacy of the product and it’s previos transactions untill the moment it was first created by the original creator.

As a buyer you’ll have a certificate of authenticity and it’s secure!

“Is that all an NFT can do?”

NO! That’s just the tip of the Iceberg!

NFT is a folder that can contain one or more files of any type (documents, pictures, videos, other folders, etc.) and even programs called (smart contracts).

NFT use case ex.

Electronic key
Voucher for real word events
Video game Collectible
House deeds
Medical records
Store receipts

Possibilities are endless!

NFTs are the future in how we keep track of info.

The Value of the NFT comes from the contents inside.

Using this tech we are also allowed to build programs within that follow strict rules and abide by a contract.

These programs are called “Smart Contracts”.

They help automate actions that normally would have to be done manually. Such as paying dividends!

What’s an example of an NFT with Utility?

PocketCows NFT for example has been able to take advantage of the tech by creating a LIMITED collection of only 10k unique tokens. Inside these tokens there’s the data of the Jpeg that’s shown visually when seen on platforms

Each image is also unique to complement the nonfungible aspect of the token by implementing a variety of art traits that make some images more valuable than others based availability in the collection and how it’s been distributed. Making them all unique characters!

On top of having image data, the token works as a key to be able to access an in-house created Video game!

The playable characters will match the image data that’s within the NFT.

So the player gets to play as their unique NFT character!

Another utility added is the capability for the smart contract to act as a burn tool and a pool of liquidity called “The Pasture”.

When a PocketCow is sent to pasture it gets rid of the NFT by (burning) it. This makes the collection more valuable as it creates scarcity

The liquidity pool fills up by utilizing marketplace smart contracts like (Opensea) that allows ethereum to be distributed to the creator when a nft is sold on the secondary market.

PocketCows contract will automatically distribute 10% of Ethereum received towards “The Pasture”.

The Pasture system can never be compromised and distributes equally and fairly for the owner to withdraw at their own discretion at anytime.

This creates a deflationary model to the collection and rewards those who take advantage of the program by using it!

That’s 3 of the features that have been created and we are still paving the way in showing the true capabilities of what non fungible technology can do.

NFT are about creating products with a legacy that will be able to make online technology advanced and more efficient.

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Cardano Rumor Rundown August 29, 2022

Hey Everyone!

Let’s go….

Newly Covered Today:

It looks like the Tornado Cash developer arrested by Dutch authorities used to work for a firm that supported the FSB. https://fortune.com/2022/08/25/tornado-cash-developer-russian-fsb-linked-compan
Hi! Welcome to JP’s house of S&M. My name is Jerome Powell and I’m going to cause you “some pain.” https://www.youtube.com/watch?v=zJ3sEeArWlw https://www.cnbc.com/2022/08/26/powell-warns-of-some-pain-ahead-as-fed-fights-to-lower-inflation.html
It looks like we made it to 79% of SPOs upgraded to 1.35.3 today (Aug 28). https://pooltool.io/networkhealth
Cardano is among the cryptocurrencies that will be serviced by the new venture between Mastercard and Binance. https://twitter.com/cz_binance/status/1563713718902558720
Cointelegraph published an article on crypto as an inflation hedge by Maladex founder Jarek Hirniak. https://twitter.com/CardanoMaladex/status/1563970082362892288
There are disturbing allegations around a law firm & a certain Cardano competitor chain. https://twitter.com/cz_binance/status/1563993112451682307
IOG will be launching a free self-paced Haskell Bootcamp course in September. https://twitter.com/InputOutputHK/status/1563239111120781315

Previously covered, but still interesting:

Polina Vinogradova on babel fees. https://twitter.com/timbharrison/status/1550557249868816384
The 3AC Founders were interviewed by Bloomberg. https://twitter.com/PastryEth/status/1550521333691387905
Lyn Alden makes an interesting thread about crypto being a separation of “money and state”. https://twitter.com/LynAldenContact/status/1550960304472956930
Here’s an article from SundaeSwap covering the perspective of a dApp team preparing for the upcoming fork. https://sundaeswap-finance.medium.com/the-vasil-hard-fork-from-a-dapp-builders-perspective-9ee454758c16
Elizabeth Warren and five other members of the US Congress have asked the EPA to “require reporting of energy use and emissions from cryptominers.” https://www.warren.senate.gov/imo/media/doc/2022.07.15%20Letter%20to%20EPA%20and%20DOE%20Re%20Cryptomining%20Environmental%20Impacts.pdf
FutureFest is already working on a plan to have actual humans working in Cardano Metaverses. https://twitter.com/futurefestxr/status/1551607701385318400
There is now a “blockchain-in-a-box” project for Java devs to create blockchain solutions that Ergo, IOG, and Hyperledger have been involved in. https://twitter.com/IOHKMedia/status/1551593026568523778 https://www.bitcoininsider.org/article/176881/blockchain-tool-will-allow-java-developers-build-blockchain-solutions
Apparently Solana is embracing its “open for business only sometimes” history with actual physical stores. https://twitter.com/Scott_eth/status/1551539635137953793
While Cardano’s eras are named after historically significant figures like Voltaire, Basho, Byron, & Shelley; the Ethereum roadmap labels are more like a parody of a reproductive health class. https://twitter.com/VitalikButerin/status/1551603545752870912
Is security the biggest challenge facing the mass adoption of Web 3? FYEO thinks so. https://twitter.com/InputOutputHK/status/1551672421769519115
Plutus Core programs generated from Typescript are now a thing. https://twitter.com/MicheleHarmonic/status/1551261395295080449 https://www.typescriptlang.org/
SpaceBudz has laid out the path to migrate to new art. https://twitter.com/spacebudzNFT/status/1552042478085308418
Cardano 360 will be this Thursday (July 28). https://twitter.com/InputOutputHK/status/1551968626470690816
Kraken apparently forgot that doing business with Iran is a hot button issue for the US government. https://www.reuters.com/technology/us-crypto-exchange-kraken-suspected-violating-sanctions-nyt-2022-07-26/
Senators Toomey and Sinema think you shouldn’t have to pay taxes on crypto purchases or trades under $50. https://seekingalpha.com/news/3860821-us-senators-introduce-bill-that-would-end-taxes-on-small-crypto-transactions
For the first time in modern history, the Federal Reserve has executed back-to-back 75 basis point hikes. https://www.cnn.com/2022/07/27/economy/fed-meeting-interest-rates-75-basis-points/index.html
Indigo reports that they are now feature complete! https://twitter.com/Indigo_protocol/status/1552268277438619648
We now have blockchain tracked clothes on Cardano. But, these shirts are expensive. https://twitter.com/OriginThread/status/1552280610923749384
You no longer have to dislike just Meta (Facebook) OR crypto VCs. You can now hate them both simultaneously in the form of their bastard children: Aptos & Sui. https://twitter.com/milesdeutscher/status/1552281885438488577
The U.S. Bureau of Economic Analysis showed a -0.9% GDP growth print this morning (July 28). That’s two quarters in a row of negative growth which corresponds to a common definition of a recession although the National Bureau of Economic Research is considered the official arbiter of recessions and marks such events based on a wide range of economic factors analyzed over many months. https://www.bea.gov/ https://www.cnn.com/2022/07/28/economy/us-economy-second-quarter-gdp/index.html
The July Cardano 360 was released today. https://www.youtube.com/watch?v=mHHVaxkHFrE
The ADA Realm & Actum Games AMA recording is now available in discord. https://discord.com/channels/903957555083087892/913541370436808754
CardaStation just onboarded a game developer to their team who spent the last six years at Ubisoft working on games like Riders Republic and Ghost Recon. https://discord.com/channels/908827661504237599/909005782790586379
Here’s a mysterious post from Ready Player Me about some news coming from Pavia. https://twitter.com/readyplayerme/status/1552993598022508550
The Ledger Nano now supports 100 Cardano native tokens via Ledger Live. https://www.ledger.com/blog/ledger-expands-cardano-support-manage-100-native-tokens-with-ledger-live
SundaeSwap now has a monthly video development update. https://www.youtube.com/watch?v=Jc8ZCVCMcXM
There was a hack of the Nomad bridge for 150 million that affected several different Cardano projects and wrapped assets in Cardano. https://twitter.com/Oraclecharli3/status/1554266219787784192 https://twitter.com/samczsun/status/1554252024723546112 https://twitter.com/IagonOfficial/status/1554258785690157056 https://twitter.com/GeroWallet/status/1554264725923381248 https://twitter.com/Milkomeda_com/status/1554302195763269632
Charles gave us a very concise summary of what’s going on with Vasil. https://www.youtube.com/watch?v=Na09S56FwuY
Never forget how many people told us not to worry about the “transitory inflation”. https://twitter.com/patrickbetdavid/status/1554086521468239872
As I write over 18k people have signed a petition asking for the removal of Gary Gensler. https://www.change.org/p/retail-investors-fire-gary-gensler-as-sec-chairman-for-obstruction-of-justice
Apparently there is a Swiss bank now offering Cardano staking to its customers. https://watcher.guru/news/cardano-staking-available-at-swiss-sygnum-bank-as-ada-moves-to-crush-ethereum https://twitter.com/sygnumofficial/status/1554349276985278464
WingRiders posts a thread on the impact of the Nomad bridge hack and how the team responded. The thread will be sure to cause some controversy. https://twitter.com/wingriderscom/status/1554370695919976448
As if the Robbery Forest wasn’t busy enough yesterday, there are late breaking reports from today (August 3rd) about some kind of exploit related to the Solana world. https://twitter.com/nftpeasant/status/1554612135992479751 https://twitter.com/SolportTom/status/1554609401369137152 https://twitter.com/magiceden/status/1554620084831674370
Charli3 may have some bad news for you if you bought their ERC-20 tokens on the cheap after the hack yesterday. https://oraclecharli3.medium.com/charli3-update-post-nomad-hack-a3cd576237a0
The giant gulf between the Cardano approach to smart contract standards and that of our competitors is highlighted amid the Nomad bridge exploit coverage. https://twitter.com/IOHK_Charles/status/1554648163532689408 https://twitter.com/sherlock_hodles/status/1554650723291381761
Southrye makes an interesting observation about what I would call one of the bigger differences between Solana and Cardano. https://twitter.com/Southrye/status/1554679752430161922
Looks like Michael Saylor’s Bitcoin bet isn’t playing out how MicroStrategy expected. He is no longer CEO. He is now only the Chairman. https://twitter.com/Mayhem4Markets/status/1554560424267366409 https://finance.yahoo.com/news/michael-saylor-microstrategy-ceo-bitcoin-204325431.html
Here’s John Woods on the possibility of Algorand/Cardano collaboration. https://twitter.com/StakeWithPride/status/1555001121508249601
This article contains allegations that may cast a heavy shadow of doubt on the purported total value locked (“TVL”) of the Solana ecosystem. https://www.coindesk.com/layer2/2022/08/04/master-of-anons-how-a-crypto-developer-faked-a-defi-ecosystem/
Pavia has unveiled the first look at one of the eight districts in the Pavia Plaza. This one appears to be Japan themed. https://youtu.be/4YCQPPo_O1U https://twitter.com/Pavia_io/status/1555210549423644674
The former President of the New York Fed says a full blown recession is either already here or will be very soon. https://www.cnn.com/2022/08/04/economy/recession-inflation-fed-dudley/index.html
BlackRock and Coinbase are now working together to bring crypto exposure to institutional clients. https://www.cnn.com/2022/08/04/economy/recession-inflation-fed-dudley/index.html
The US Treasury has added a bunch of Tornado Cash mixer related ETH addresses to their naughty guy sanctions list. Reports are also coming in that Circle has frozen USDC belonging to some of these Tornado Cash users. Hilarious reactions followed. https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/2022080 https://twitter.com/bantg/status/1556712790894706688 https://twitter.com/juthica/status/1556648502658318337 https://twitter.com/bantg/status/1556656916234965000 https://twitter.com/econoar/status/1556752321773576193
PWC just did a big metaverse survey of 5k consumers and 1k business leaders that indicated 67% of companies are actively engaged in metaverse projects (beyond just experimentation) and 82% expect metaverse activities to be a part of their normal business activities in the next three years. https://www.pwc.com/us/metaversesurvey
FutureFest is putting on a metaverse concert event on Wednesday at 7pm ET. https://twitter.com/futurefestxr/status/1556688896825516032
I think we have found the perfect insult: “that’s web2 thinking”. https://twitter.com/matiwinnetou/status/1556681984789086208
Celsius and Voyager users are currently worried bankruptcy proceedings might involve a clawback of certain withdrawals from these centralized financial platforms. https://twitter.com/TheRealPlanC https://twitter.com/SimonDixonTwitt/status/1556574979524804609
Someone actually did dust a bunch of .eth wallets with ETH from TornadoCash. https://twitter.com/josephdelong/status/1557011056572129280
Coinbase reported a $1.1 billion net loss in Q2 vs. $1.59 billion in net income last year in Q2. https://www.cnbc.com/2022/08/09/coinbase-coin-earnings-q2-2022.html
Reports are coming in that Curve was exploited for $573k. https://twitter.com/WatcherGuru/status/1557104364690489346 https://twitter.com/CurveFinance/status/1557104676830601216
Bank of England researchers are worried the use of cryptoassets in the metaverse could lead to systemic risks. https://bankunderground.co.uk/2022/08/09/cryptoassets-the-metaverse-and-systemic-risk/
A law firm representing Pavia has released a “case study” on their work with Pavia. https://twitter.com/StephensonLawHQ/status/1557360513654423559
More surprises from the Coinbase quarterly filing: the SEC has sent subpoenas to Coinbase regarding its stablecoin and yield generating products. https://www.sec.gov/ix?doc=/Archives/edgar/data/0001679788/000167978822000085/coin-20220630.htm#ibd16326c8f82466fbb851d71853b44a8_262
Virtua gives us a first in-world peek at a game inside their metaverse. https://twitter.com/VirtuaMetaverse/status/1557411483809636352
Don’t forget, the Pavia merch claim for plot holders will start today (Aug 11) and run for two weeks. https://discord.com/channels/897161313120321536/897682883471347763
Artifct has released some images in their discord that seem to be related to avatars for their moon metaverse. https://discord.com/channels/882364185244237884/920120911414300773
CardaStation also provided some in-world footage of the community center they are building. https://discord.com/channels/908827661504237599/909005782790586379
Pavia just unveiled their rebrand and new website. https://pavia.io/ https://twitter.com/Pavia_io/status/1557769622320996352
Pavia also gave us a much more extensive unveiling of the first district of the Plaza. It’s a narrated fly through with some interesting details. It sounds like the next district will be Cyberpunk. https://youtu.be/EhHuP4Z-aDk
Cardano Node 1.35.3, which should be the Vasil hardfork combinator event version if all goes according to plan, was released today (Aug 11). https://github.com/input-output-hk/cardano-node/releases/tag/1.35.3
There are some people debating whether the Ethereum Merge will result in tax liability. One of the items discussed is whether ETH holders will essentially be receiving a new coin if proof-of-work miners keep the old chain (and the old PoW ETH coins) alive. https://twitter.com/LucidCiC/status/1557710488955301889
Lots of people took a quote from Vitalik about centralization of Ethereum out of context today (Aug 11). He was actually talking about the importance of sharding. https://youtu.be/kGjFTzRTH3Q?t=2167 https://twitter.com/NerdNationUnbox/status/1557260572621766660
Wow! The Netherlands arrested the developer of Tornado Cash on Friday (Aug 12). The stakes just got a little higher in crypto. I suspect a lot of crypto platform developers will feel a little less easy about relying on their open source/decentralized credentials as a shield against government action. https://www.fiod.nl/arrest-of-suspected-developer-of-tornado-cash/
An interesting point has been made that validating blocks in ETH 2.0 that contain Tornado Cash or other sanctioned transactions would be a violation of the sanctions while not validating those blocks can also lead to financial penalties (“inactivity leaking”) in ETH 2.0. The fear is that this could lead to protocol-level censorship to accommodate sanctions. https://twitter.com/lex_node/status/1558521705244594181
Virtua has released a new episode of their podcast with some hints as to what they are building and some interesting discussion around building a virtual world that will operate across different technologies (browser, PC, mobile, etc). https://www.youtube.com/watch?v=2BSl7no82nM
The last two episodes of CopiCafe (the Cornucopias podcast episodes 18 & 19) have revealed some interesting details including screen shots of the mobile game, that the fourth zone of Cornucopias will be inspired by the Canary Islands, the Custom Dome sale may happen in the next two weeks if they can beat the Vasil hardfork, development of land staking is in its final stages, & a custom dome video will be coming next week. https://www.youtube.com/watch?v=wvGAGNv86Y0 https://www.youtube.com/watch?v=HnUlXU_tRZY
Cornucopias has released the pricing on their custom domes in discord. https://discord.com/channels/829374949587419137/842583414439542805
The Robbery Forest strikes again. This time it’s reported to be 1.2 billion printed in AUSD. https://twitter.com/WatcherGuru/status/1558735108672065538 https://twitter.com/AcalaNetwork/status/1558785360670298112
IOG Researchers are at Crypto 2022 in Santa Barbara to present the “Ofelimos” Proof of Useful Work (PoUW) paper. https://twitter.com/InputOutputHK/status/1559170170307985409
The Cardano Island Land Claim Event is going down next week! https://twitter.com/VirtuaMetaverse/status/1559261587298467841
Orbis has released the whitepaper for their L2 ZK-Rollup Protocol. https://papers.orbisprotocol.com/whitepaper.pdf https://twitter.com/orbisproject/status/1559178331433512960
WingRiders held a community vote on issues related to the Nomad Exploit Incident. https://twitter.com/wingriderscom/status/1559177924699471873
Here’s a great thread from Maladex on why total value locked (“TVL”) makes no sense at all as a metric in crypto. https://twitter.com/CardanoMaladex/status/1559552276234215424
Ethereum is having a crisis of conscience over the inevitable censorship & loss of permissionlessness that will come out of the Tornado Cash sanctions. https://twitter.com/sassal0x/status/1559357892645437440 https://twitter.com/econoar/status/1559271411658526720 https://twitter.com/freeslave06/status/1559350621714653192
The censorship is already there as a practical matter as shown in this interesting thread on more centralization trouble in the world of Ethereum staking/block validation. https://twitter.com/varun_mathur/status/1558905077523484672
CZ very convincingly makes the case that the large corporate institutions are already here in crypto. https://twitter.com/cz_binance/status/1559642866787426314
The Pavia avatar merch drop for plot holders has finally arrived. https://merch.pavia.io/ https://twitter.com/Pavia_io/status/1559852416820027395
Worried about quantum computing and crypto? There’s already movement in the space that can be incorporated into Cardano. https://twitter.com/JohnAlanWoods/status/1559847847264141313
There is so much political strife in ETH over the censorship issue that the different sides are literally adopting flags at this point. This is how civil wars start. Poloniex is now even hinting at supporting both the proof-of-stake ETH and the proof-of-work ETH Forks. https://twitter.com/ercwl/status/1559284150749765641 https://twitter.com/Poloniex/status/1555085757450272768
We now have more information on the first Virtua metaverse game and a naming contest. https://twitter.com/VirtuaMetaverse/status/1559940305310420992
Cardano metaverses seem to be doing just fine compared to what Meta put out just two days ago (Aug 15). https://www.forbes.com/sites/paultassi/2022/08/17/does-mark-zuckerberg-not-understand-how-bad-his-metaverse-looks/ https://twitter.com/day25/status/1559842465477435399
Pavia is contemplating additional use cases for the Pavia avatar merch like making the pieces keys to access special OG areas and etc. https://twitter.com/Pavia_io/status/1560186546988400640
The Cardano community loves watching the “Bankfull” Podcast boys get dunked on these days. After all their Cardano comments…it’s live by the sword, die by the sword. https://twitter.com/_Checkmatey_/status/1560013273545719810 https://twitter.com/AllenWu29331265/status/1560064947711000576
Here’s some very interesting discussion on Hydra vs. ZK-Rollups in Cardano. https://twitter.com/_KtorZ_/status/1560008315597365252
Lots of talk about the potential censorship problems in the ETH All Core Devs call today. Just a reminder that Cardano currently doesn’t have these problems since different architecture (e.g. No Flashbots-esque MEV-centric middleware). https://youtu.be/jJaCaS0WbIw
LiqwidDAO wants to form a Nonprofit Association in Switzerland to be situated in a jurisdiction with some regulatory clarity. https://discord.com/channels/759807412688388136/981259898551664650
Virtua has released some images of the condo towers. https://twitter.com/VirtuaMetaverse/status/1560353042997940225
C’mon Canada! Selective caps on crypto transactions now?!? https://twitter.com/mochains/status/1559971309597122560
Cornucopias Custom Dome information is here along with game play footage. https://drive.google.com/file/d/1S3m_04-6hGmBPmeP74sZzbIFJIIPeoTC/preview https://twitter.com/RobGreig3/status/1560984962995818499
Charles addressed the dialogue around 1.35.3 on Friday (8.19) and it looks like everything has been resolved by August 20.The path for all SPOs to upgrade to 1.35.3 looks clear. https://twitter.com/IOHK_Charles/status/1560666160861184001 https://www.youtube.com/watch?v=K85M3c4VfBQ https://twitter.com/IOHK_Charles/status/1561077286807318529
Apparently, MuesliLending will be a thing. https://twitter.com/MuesliSwapTeam/status/1560672945210503169
Coinbase has done a great job of summing up the regulatory progress in crypto in a single chart. https://twitter.com/brian_armstrong/status/1561455357448183808
Ready Player Me who Cardano knows as the avatar provider to metaverse projects like Reach and Pavia just got a $56 million Series B from a16z. https://twitter.com/readyplayerme/status/1562032070251032576
Nick Szabo made a very important prediction about Ethereum half a decade ago that seems to be coming true (in a bad way). Luckily, Cardano is suffering the same fate. https://twitter.com/phyrooo/status/1562118994353700864
Virtua gave us a little peek at what looks like the actual location of the towers on Cardano Island. https://twitter.com/VirtuaMetaverse/status/1562145145901891588
Cornucopias has dropped their custom dome video. https://www.youtube.com/watch?v=aL_4dTFKyJk
The 1.35.3 adoption continues to climb today (Aug.24). https://pooltool.io/networkhealth
Vasil Progress today is showing 40% of blocks in Epoch 359 and 54% of Nodes reporting version 1.35.3. https://pooltool.io/networkhealth
Apparently Tether want’s the world to know they haven’t frozen any TornadoCash related addresses. But, they’ll be happy to comply as soon as they are told to do it. https://tether.to/en/tether-holds-firm-on-decision-not-to-freeze-tornado-cash-addresses-awaits-law-enforcement-instruction/ https://twitter.com/Tether_to/status/1562468486886346753
It looks like MuesliSwap is now in Private Beta Mainnet for its Hybrid Dex. Vasil era dApps are starting to feel very close. https://twitter.com/MuesliSwapTeam/status/1562425751005442051
Coinbase is now getting in on the staking derivatives party. I wonder how much of the total delegation of ETH will end up centralized in this way. https://twitter.com/CoinbaseAssets/status/1562476695357358080
Congressman Emmer is formally asking Janet Yellen how OFAC can sanction something that’s not a person or an entity but just code. https://twitter.com/RepTomEmmer/status/1562084891247902721
It looks like you can now add data to your ADA Handle. https://twitter.com/adahandle/status/1562832083289968640
IOG has released a really nice video on the Mongolia trip. https://www.youtube.com/watch?v=-FmWy1MjuN4
IOG has released a Vasil rollout status thread. https://twitter.com/InputOutputHK/status/1562865831708528645
Carda Station will be releasing a bunch of new features on August 30th including ReadyPlayerMe indoor avatars. https://twitter.com/InputOutputHK/status/1562865831708528645
Cardano is the top ranking cryptocurrency ecosystem in terms of “brand intimacy”…whatever that is. https://mblm.com/lab/brandintimacy-study/industries/crypto/

~Army of Spies

Crypto Market Overview of BTC, SOL, and LINK

Since the end of July 2022, Bitcoin has formed a distribution pattern on the daily time frame, hovering above the support level at $22.5k, before emphatically breaking below it on August 19, 2022, and subsequently holding the $21k level as support. The Crypto Fear and Greed Index subsequently fell below the 30 level for the first time since late July, a testament to the fear that has gripped the market since the recent price fall. Crucially, Bitcoin seems to be holding above what is the upward sloping trendline representing the support zone of the bear flag, and needs to maintain that level of support to avoid a further move to the downside.

Solana (SOL) got significantly impacted by Bitcoin’s price fall over the past ten days, as it fell from a local top of $47.9 on August 13 to a local bottom of $34.5 on August 20, before consolidating above the $34 support level. The drop represents a 28% price fall, a significant figure considering that Solana has remained in the accumulation phase on the macro scale. It will now seek to regain the 200 MA on the 4h chart, after it fell through this level on August 17 and retested it as resistance the following day.

In similar fashion, Chainlink (LINK) dropped significantly in light of the cryptocurrency market fall. It registered a local top of $9.5 per token on August 12, 2022, and fell by 29% to a low of $6.7 per token on August 20, 2022. In doing so, it fell below the 200 MA on the 4h chart for the first time in the month of August. Buyers stepped in strongly at the $6.7 level, and have been successfully keeping the price above this support over the past few days.

Shiba Inu (SHIB) experienced an interesting turn of events over the past few weeks. After consolidating and holding the $0.000013 level as resistance between late July and August 13, 2022, Shiba Inu broke past the resistance in emphatic fashion the very next day, hitting the 200 MA on the daily chart at the $0.000018 level, forming a large candle in the process. This move was a culmination of the inverse head-and-shoulders pattern it had formed after its price collapse in early May 2022. Since August 14, 2022, Shiba Inu corrected back to the $0.000013 level, this time holding it as significant support.

Non-experts and specialists alike will be enthralled by the IKONIC metaverse scenario

IKONIC Metaverse functions despite this. It was well worth the time and work put into this project. Through the project, a new perspective on the metaverse may be achieved. Non-experts and specialists alike will be enthralled by the IKONIC metaverse scenario. Virtual meetings need the use of NFT receivers and speakers. A co-ed sport may have benefits for you and your significant other. Use NFTs to purchase tickets for sports events and music performances. It's a good idea to have a few extras on hand.

#IKONIC #CRYPTO #BSC #BINANCE #BITCOIN