Thursday, January 12, 2023

Cardano Daily Discussion - January 13, 2023

Hello everyone,

Welcome to the Cardano Daily Discussion!

The standard sub rules apply here (see sidebar), with the exception that price discussion is allowed in this thread, though we encourage you to try not to make this the focus and talk about the project itself. Please ask questions, help others and be civil - be sure to get involved in Project Catalyst too!

If you're new, please make sure you're read through the newbies guide and share it with others (use the ?newbies comment command to reference it).

⚠️ Scam Warning ⚠️

Please read the Cybersecurity guidelines for Cardano Users.

There are ongoing giveaway scams on youtube and many scammers lurking in Cardano's social channels impersonating ambassadors/moderators/official staff contacting users via direct messages.

For example, searching 'cardano' on youtube and sorting by most recent upload date shows several giveaway scams running (all videos in screenshot are scams):

Ongoing 'giveaway' scams on Youtube

The youtube scams are automated; use stolen footage usually of Charles Hoskinson and are restreamed so to appear to be 'live'; appear to have many watchers (which are bots); use bought hacked channels and are edited to appear like official channels.

Do not be fooled!

To be clear:

⚠️ There is no such thing as a Cardano giveaway
⚠️ Never share your seed phrase with ANYONE
⚠️ Never send ADA to someone promising to send you more ADA back
⚠️ You will never be contacted by ambassadors/moderators/staff

Please report scams on the Cardano Fraud Detection Bureau.

⚠️ Scam Warning ⚠️

https://preview.redd.it/60ofludzpq8a1.png?width=284&format=png&auto=webp&v=enabled&s=7d58fc8aaa2eb5f125624608b97bdd7b943a1111

Midnight Subreddit

In anticipation of Input Output's new data protection blockchain 'Midnight', I've managed to acquire r/Midnight through some negotiation and repurpose it for the Cardano Community (the sub was created for a card game back in 2011 but was mostly unused).

I decided to do this as I thought the project will eventually need a home on reddit and best to setup now before any scammers do. Obviously there's not much to post about on there right now as it's early days as the project is yet to be released, but if you'd like to be kept up to date on the project please feel free to join the new subreddit if the project interests you and I'll be sure to post updates as and when they become available.

Right now the sub is mostly a carbon copy of r/cardano, I've copied most of the automod and rules over, so certain aspects may seem a little incongruent atm, but I'll tailor and tweak the sub as we go. Feel free to send me or post any input if you want stuff to change.

Cheers all

Friday, 13th January 2022

The Daily Spin. FED CPI Friday Edition. CPI has been released to the expectation of economists, down to 6.5% YoY. Markets rally as a result, with Bitcoin almost breaking the $19k mark over the day. Nexo’s Bulgaria office gets raided by police and prosecutors amid allegations of dealings with Ruja Ignatova, the infamous “cryptoqueen” of the OneCoin scam and still currently on the FBI’s top 10 most wanted list. Nexo rebuffs the allegations, while SBF still can’t keep his mouth shut. The Winklevoss twins are getting charged by the SEC over their Earn program, and DCG is scrambling to find $3bn to fill the hole it has on Genesis. Meanwhile, FTX “finds” $5bn in liquid assets and makes an impact on market prices, and Bitconnect victims will receive $17m back in a statement given by the Department of Justice (some DailySpin alpha: x-claim.com is where you can buy and sell frozen accounts at a discount). FET token is declared the reserve asset for Binance, and Ripple’s CTO is called out for manipulation of FLR token prices. Orange Financial launches an innovative platform for treasury yield management, and Yearn Finance unveils its permissionless vault factory. Gitcoin is to test their decentralized funding protocol beginning next week. And the FAA’s database infrastructure became a prime example of legacy information systems failing when a corrupt file caused over 10,000 delays and a large number of flights canceled, amounting to millions of dollars in damages to the entire airline industry not including untracked knock-on effects.

Coinweb Labs launched LinkMint and DeconX with a livestream demonstration last night, led by Toby, Knut, and Alexander – a must see if you’re even reading this sentence and haven’t already …here is our round-up of curated news and opinions (surely biased) from the world of Blockchain, keeping you informed into the new year with the most trending, in-the-know, and controversial topics. In the name of transparent, dissemination of information to keep you curious, inspired, and clinically sane…

Ongoings at Coinweb

Coinweb Labs is proud to unveil LinkMint ⛓️🍃, our groundbreaking Cross-Chain Tokenisation Platform and DeconX, our integrated native DEX! Live Walkthrough Demonstration for the Community by Toby, Knut, and Alexander.
https://www.youtube.com/watch?v=CSKA3cAB15U

Coinweb presents How Blockchain Technology Will Affect Tourism and Hospitality Industry with Royal Coast Riviera Club, Hua-Hin
https://www.facebook.com/permalink.php?story_fbid=pfbid028ZZTaqC3BKYLeUsKptGMjGbuesuYz55qnP9LubZc52KmhLCBQiHLr84orNft24a7l&id=100079478362053&notif_id=1673577843809478&notif_t=mention&ref=notif

Coinweb to Deliver Cross-Chain Smart Contract Architecture and Blockchain Loyalty Programme to BMW
https://cryptoslate.com/bmw-to-bring-blockchain-loyalty-program-through-coinweb-and-bnb-chain/

Block Tides' exclusive interview with Coinweb at the London Digital Asset Week
https://www.youtube.com/watch?v=jmPk_74nNlw

Toby’s Presentation at CryptoExpo Thailand, Oct 8
https://www.youtube.com/watch?v=FfUdcHFMXHg

Toby quoted in “Decoding cryptocurrency market: Can cryptos finally bounce back in 2023 after 2022 devastation”
https://www.ibtimes.co.in/decoding-cryptocurrency-market-can-cryptos-finally-bounce-back-2023-after-2022-devastation-855336

Latest Video Release: Liquidity Pools Explained (Part I) (4mins)
https://youtu.be/Z5byW7OOMP8

KuCoin Labs launches incubation program to accelerate builders (Coinweb, DoraHacks, Ava Labs)
https://cointelegraph.com/press-releases/kucoin-labs-launches-incubation-program-to-accelerate-builders

“Coinweb’s Cross-chain Routing System and Eliminating Platform Risk” a Thread by Anton on Twitter
https://twitter.com/coinwebofficial/status/1602615630879985664?s=46&t=yj1lrGctwO-5NBlfjKPvUg

Toby Interviewed at the Benzinga Future of Crypto Conference, Dec 7 (New York)
https://www.benzinga.com/markets/cryptocurrency/22/12/30022360/coinweb-is-making-a-splash-as-a-leading-layer-two-platform

World Blockchain Summit, Dec 8-9 (Bangkok)
https://coinweb.io/events/its-a-wrap-for-2022-world-blockchain-summit/

Crypto AM Summit and Awards, Nov 23-24 (London)
https://twitter.com/tobycoinweb/status/1595909263263662081?s=46&t=V-EQfqnAOG7fXAWZ3sMk1Q

“Understanding the Great Crypto Tradeoff” by Toby Gilbert
https://dailyhodl.com/2022/11/16/understanding-the-great-crypto-tradeoff/

“The Time is Now for Blockchain” article on Times of Malta
https://timesofmalta.com/articles/view/time-now-blockchain-a2.994854

Toby’s full presentation at Token2049-London
https://youtu.be/pdtKx3vAs9c

On the Radar

Introducing PleasrHouse, Episode 01; Going LIVE with u/DanielEllsberg u/snowden u/FreedomofPress – Thursday 3pm EST
https://twitter.com/PleasrDAO/status/1612858383681589248

World Crypto Conference, Jan 13-15 (Zurich)
https://worldcryptoconference.org/

Coinweb’s 1st Event in Collaboration with Offchain Sydney, Jan 18 (Sydney)
https://coinweb.io/events/the-1st-event-of-23-coinweb-x-offchain/
https://offchain.social/events/january-18-2023-sydney/

European Blockchain Convention, Feb 15-17 (Barcelona)
Interop Summit, Feb 27-28 (Denver)

Blockchain Life 2023, Feb 27-28 (Dubai)

On the Block(chain)

Consumer prices fell 0.1% in December, in line with expectations from economists
https://www.cnbc.com/2023/01/12/consumer-prices-fell-0point1percent-in-december-in-line-with-economists-expectations.html

Bitcoin approaches $19,000 price mark
https://cryptoslate.com/bitcoin-approaches-19000-price-mark/

Over $320,000,000 in Bitcoin and Crypto Liquidated in Last 24 Hours As Inflation Data Triggers Market Bounce
https://dailyhodl.com/2023/01/12/over-320000000-in-bitcoin-and-crypto-liquidated-in-last-24-hours-as-inflation-data-triggers-market-bounce/

Grayscale says recent events will not affect GBTC conversion case against SEC
https://cryptoslate.com/grayscale-says-recent-events-will-not-affect-gbtc-conversion-case-against-sec/

NEXO Headquarters Raided by Police (Updated)
https://smnweekly.com/2023/01/12/prosecutors-and-police-storm-nexos-office-in-bulgaria/

Nexo co-founder calls financial crimes allegations ‘absurd’
https://cryptoslate.com/nexo-co-founder-calls-financial-crimes-allegations-absurd/

Nexo-linked addresses see outflows of nearly $9M amid rising FUD
https://cryptoslate.com/nexo-linked-addresses-see-outflows-of-nearly-9m-amid-rising-fud/

SBF reveals his side of the FTX story, blames CZ, targeted attack against FTX
https://cryptoslate.com/sbf-claims-no-funds-were-stolen-blames-cz-for-collapse-in-detailed-report-on-ftx-collapse/

MetaMask warns of ‘address poisoning’ wallet scam
https://cryptoslate.com/metamask-warns-of-address-poisoning-wallet-scam/

Staked Ethereum surpasses 16M, over 70% stakers at a loss
https://cryptoslate.com/staked-ethereum-surpasses-16m-over-70-stakers-at-a-loss/

Competitive Landscape

Molecular Group announce the establishment of its new investment company XMG Capital in Singapore
https://cryptoslate.com/press-releases/molecular-group-announce-the-establishment-of-its-new-investment-company-xmg-capital-in-singapore/

Orange Financial To Launch Innovative Yield Farming Treasury – Stablecoin Rewards for NFT Holders
https://cryptoslate.com/press-releases/orange-financial-to-launch-innovative-yield-farming-treasury-stablecoin-rewards-for-nft-holders/

FET becomes reserve asset for Binance as AI token popularity rises
https://cryptoslate.com/fet-becomes-reserve-asset-for-binance-as-ai-token-popularity-rises/

HEX founder Richard Heart teases coming PulseChain launch
https://cryptoslate.com/hex-founder-richard-heart-teases-coming-pulsechain-launch/

Ripple CTO called out by Twitter for market manipulation of FLR token
https://cryptoslate.com/ripple-cto-called-out-for-market-manipulation-of-flr-token/

Metropoly Beta version is now live, and it is your chance to view the best NFT project of 2023
https://cryptoslate.com/metropoly-beta-version-is-now-live-and-it-is-your-chance-to-view-the-best-nft-project-of-2023/

Crypto trading app Tap Global among London’s first public listings in 2023
https://www.standard.co.uk/business/crypto-trading-app-tap-global-among-london-s-first-public-listings-in-2023-b1051734.html

Binance Admits Lapse In Maintaining Stablecoin Reserves
https://thedefiant.io/binance-lapse-busd-reserves/

Yearn Finance Releases Permissionless Vault Factory
https://thedefiant.io/yearn-permissionless-vaults

World

DCG scrambling to raise funds to cover Genesis’ $3B debt burden
https://cryptoslate.com/dcg-scrambling-to-raise-funds-to-cover-genesis-3b-debt-burden/

SEC charges Gemini, Genesis over Earn program; Winklevoss responds
https://cryptoslate.com/sec-charges-gemini-genesis-over-earn-program/

Samsung Asset Management to list Bitcoin ETF on Hong Kong Stock Exchange
https://cryptoslate.com/samsung-asset-management-to-list-bitcoin-etf-in-hong-kong-stock-exchange/

A corrupt database file led to the FAA ground stoppage and millions of dollars in realized losses. It was also found in the backup system.
https://www.cnn.com/travel/article/faa-ground-stop-causes

BitConnect victims will receive $17 million: DOJ
https://cryptoslate.com/bitconnect-victims-will-receive-17-million-doj/

Thought Leadership

6 Best Books On Artificial Intelligence - How To Educate Yourself In The Hottest New Tech Sector
https://www.forbes.com/sites/qai/2023/01/04/6-best-books-on-artificial-intelligencehow-to-educate-yourself-in-the-hottest-new-tech-sector/?sh=16030761480c

The FDA Approved The New Anti-Alzheimer’s Drug Leqembi. What You Need To Know
https://www.forbes.com/sites/howardgleckman/2023/01/09/the-fda-approved-the-new-anti-alzheimers-drug-leqembi-what-you-need-to-know/?utm_medium=browser_notifications&utm_source=pushly&utm_campaign=2598717&sh=41ccf948458b

Sanctions caused cybercriminals to lose $15M in potential revenue in 2 months
https://cryptoslate.com/sanctions-caused-cybercriminals-to-lose-15m-in-potential-revenue-in-2-months/

Gitcoin To Test Decentralized Funding Protocol
https://thedefiant.io/gitcoin-alpha-round

https://preview.redd.it/c6u8a9icuqba1.png?width=817&format=png&auto=webp&v=enabled&s=e925d04683460f66da2024ce7bc6c4f0c30eacf0

Digitra users can swap DGTA tokens for several services

Digitra users can swap DGTA tokens for several services. Since the DGTA issues tokens, they are not securities. Digitra requires DGTA tokens. DGTA tokens do not confer Digitra administrative or voting capabilities. If unanticipated events occur, the DGTA project and token properties described in this whitepaper may change or disappear. DGTA tokens cannot be sold in the US by Digitra. US residents—including businesses and workers—cannot use DGTA tokens. DGTA tokens and services are prohibited in some jurisdictions.

#DIGITRA #ICO #CRYPTO #BITCOIN

Exciting year for cryptocurrencies with many more developments expected!!

The crypto world news of 2023 is an exciting one. In the past few years, the cryptocurrency market has seen tremendous growth and adoption. This year, the crypto world is set to reach new heights as more people become aware of its potential and use it for their financial needs.

The most significant news in the crypto world this year is the launch of a new digital currency called Libra. This digital currency was created by Facebook and is backed by a basket of major currencies, including the US dollar, Euro, British pound, Japanese yen, and Swiss franc. The goal of Libra is to provide a stable and secure digital currency that can be used for global payments. It has already gained support from some major companies such as Visa, Mastercard, PayPal, Uber, and Spotify.

Another major development in the crypto world this year is the launch of Ethereum 2.0. This upgrade to Ethereum will bring several improvements to its blockchain technology including increased scalability and security. It will also enable users to create their own decentralized applications (DApps) on top of Ethereum's blockchain network. This will open up new opportunities for developers to create innovative applications that can be used by anyone around the world.

In addition to these two major developments in the crypto world this year, there have been several other important news stories related to cryptocurrencies such as Bitcoin's halving event which took place in May 2020 and Ethereum's Istanbul hard fork which took place in December 2020. These events have had a significant impact on the price of cryptocurrencies as well as their overall acceptance among mainstream investors and consumers alike.

Overall, 2023 looks like it will be an exciting year for cryptocurrencies with many more developments expected throughout the year. With more people becoming aware of its potential and using it for their financial needs, we can expect even greater growth in adoption over time.

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Bittensor - reason for launch on Polkadot

Earlier I wrote about why I think Bittsensor is one of the most exciting coming to DOT in February. Below is their rationale for joining Polkadot network:

Subtensor, our network blockchain, is the foundational structure for our network - aligning incentives and streamlining the creation of machine intelligence. As the network has expanded, we have decided to integrate with an external system to support a smooth process of evolution and scaling. We chose to integrate with the Polkadot ecosystem.

Why?

Substrate-based, simple, secure, and cost-efficient

Polkadot uses Substrate, a modular language used on multiple other blockchains. A language like this gives us fine control over our blockchain and consensus mechanism. The fully-shared blockchain ecosystem is also simple to integrate with, low-cost and energy efficient, allowing us more resources to devote to the critical network activity: creating machine intelligence.

Fit for a next-generation governance protocol

Polkadot offers an advanced set of governance tools so that we can automatically deploy fork-less upgrades and custom-create our developing governance system. Developing a governance structure that works efficiently in practice will be an iterative, continuously evolving process, and we need to integrate with a system that promotes this.

Synchronicity of Values

Integrating with Polkadot will be the beginning of what we hope will be a long-term, fruitful partnership, so it helps that they share many of our foundational values. Polkadot was founded on principles of transparency, fairness and decentralization while also displaying a commitment to axiomatic evolution and change. We are in alignment with all of this.

This next step is as crucial as it is daunting. We will be losing a lot of control over the system and opening it up to the world. But that is where this was always going.

For those not familiar with Bittensor - resources below:

https://github.com/cetiny/awesome-bittensor

My quick take:

Bitcoin uses more computing power than top 500 supercomputers combined for one purpose only, to verify the transactions and provide security.

Being on DOT allows Bittensor to use 100% of compute power toward an open-source, scalable, globally distributed, decentralized neural network. The idea is that several thousand machine learning models work together on different tasks, while helping and learning from each other. This may also restructure the way in which we are incentivizing the creation of intelligence itself, replacing the standard academic competition with markets.

The project is still in an “incognito” phase, as they are still pre-mining. For now, it is possible to get tokens from pre-miners (OTC) on Discord or dedicated OTC / BTC exchange. DEX timing q1/q2 after DOT onboarding. Early backers include Polychain Capital, Digital Currency Group and Firstmark Capital.

The Founders:

Jacob Steeves (enterprise machine learning at Google) and Ala Shaabana (IBM AI division)

Problems addressed:

Bittensor hopes to scale resources available towards AI while lowering the cost of AI development significantly. And in process making it a lot more decentralized and open to miners (in this case AI modelers with sufficient GPU power) who can earn tokens by providing most optimal AI solutions on the network.

Tokenomic and Token Utility:

The value of TAO is connected to the value of the intelligence that it is produced by the network. Ownership of the network comes with holding TAO. So, if someone holds a fair amount of TAO, he gets to decide, on what the network will be trained on. The Tokenomics are inspired by Bitcoin: The max supply of TAO is 21 Million tokens and every four years there is a halving event (the first one in 2025). The current issued supply is around 3.7 Million TAO. Current price around 42 (up 420% since August) implied market cap at around $150/160m.

What is NFTs & How Businesses Can Use It for Their benefits?

Nowadays, NFTs have begun to trigger paradigm shifts in a wide range of societal fields, altering everything from finance to the arts. There is good reason to believe that nearly no industry will remain unaffected once its full potential is fulfilled.

Are you curious to know about what are NFTs and how to use them for business?

What are NFTs?

A blockchain contains a unit of data known as an NFT (Non-fungible token). Every NFT has a special identifying code that cannot be duplicated or reproduced, as well as metadata that may be linked to various items to offer unchangeable proof of ownership. The key features of NFT are,

With a valid certificate created by blockchain technology that underpins cryptocurrencies, NFT is a digital asset that stands in for online commodities like music, games, and artwork.
It cannot be altered or forged.
NFT exchanges occur using cryptocurrencies like bitcoin on specialized websites.

How to utilize NFTs for your business?

Here are some ideas on how to use NFTs for your business,

#NFT creation for products

It is a smart idea to develop virtual products for clients, and it's even better if you can connect it to an actual one.

For example, A furniture store may request that customers buy a couch and an NFT version. Similar practices are being used by Nike with Crypto-kicks where users purchase actual sneakers and receive a digital pair in return.

#Sell NFTs to the audience

People can purchase virtual properties in the metaverse and dress up their avatars. Smart companies can profit from this and commission the branding of NFT products to be sold for usage in virtual environments like decentraland.

Again, Nike is the talk of the world, submitting patent applications to create virtual footwear for users of video games and those who inhabit virtual environments.

#Explore brand loyalty with limited-edition products

With limited edition products, brands have rewarded customers and raised their profile. Small companies can now carry out the same tasks using NFTs.

Taco-themed GIFs were famously published by the restaurant business Taco Bell and quickly sold out.

#Selling NFT-based tickets

You may use your company to sell NFTs of tickets to events like sporting competitions, conferences, and live performances that take place. Using NFT-based tickets businesses may reduce fraud and forgery tickets.

According to billionaire Mark Cuban, the Dallas Mavericks are investing in the possibility of converting their tickets into NFTs. Besides, enabling customers to resale tickets and earn a commission, he said, NFT-based tickets will also enable them to do so.

#Uplift funds for social premises

Although most people are kind, many feel happier if they received something in return for their generous contributions. And what better way to appreciate donors than by granting the ownership of a highly uncommon NFT?

Coca-cola and Taco Bell are two examples of companies that employ NFTs to raise funds for charitable causes.

#Enrich management of the supply chain

Supply chain management is one of the best business applications for NFTs. Businesses can trace items more easily along the supply chain by stamping NFT-enabled tags on tangible goods. At various stages of the production process, each NFT can get updates with pertinent information.

For example, products-related NFTs may include information on the source of raw materials and manufacturing processes.

Now, you have some idea about NFTs and their usage in business. So, if you need any assistance with NFTs then please don't hesitate to get in touch with us. We, Bitdeal a leading NFT development company and would be delighted to assist you anytime.

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