Monday, February 13, 2023
How I lost 1M$: My Story losing all my money trading Crypto...
Greetings! This is my first post my first post on Reddit would like to share a difficult chapter of my life regarding trading crypto. My apologies in advance for my bad English.
The story began in 2019, when my self-built, successful FBA business was abruptly closed by Amazon. Despite the fact that I was able to earn a substantial amount of profits from it, I now find myself in a position where I need to explore new avenues for income. The 150k I have saved up are the result of eight years of hard work in e-commerce, drop-shipping, arbitrage...
I came across countless videos showcasing the potential profits from trading crypto and being someone who loves to try new things, I thought to myself, "Why not give it a shot?" I spent three months learning the basics of trading, then I started day trading and unfortunately lost 10k dollars in my first month due to making some bad decisions like fomo etc. However, I quickly realized that the key to profitability was to change my strategy. I switched to swing trading and held my first position for six months, resulting in a near two-fold return on my investment. This approach continued to pay off, and in just one year I transformed my starting capital of 150k into a million dollars plus 10k. "I was invested in various alt coins when the value of Bitcoin started to decline, leading to a slow loss of my funds. Despite my efforts, it took over a year for me to return to my starting point of 150k. This period of time was filled with frustration, stress, and anxiety.
Unfortunately, my situation worsened when I made the decision to use leverage in an attempt to regain my financial high, but instead I lost all my money. On top of that, I experienced the loss of my father and my gf dumped me. These events took a toll on my mental health and I struggled with depression and even had thoughts of suicide, like I was in deep back hole with no light and I suffered a lot and still, life was meaningless for me, there is nothing I wanted to do. However, I am now here talking with you today.
So After months of taking antidepressants, I am now ready to start fresh from 0. However, and for a guy like me that dropped school with no degree my options of work are so limited I spent all my time trying to learn graphic design but Unfortunately, I've only received one order on Fiverr in the past three weeks.
I kindly request your assistance in helping my Fiverr gig reach a wider audience by clicking on it and boosting its visibility. This way, I hope to be able to get more clients creative logos and designs: My Fiverr GIG!
Conclusion: Trading has the potential to bring substantial wealth, BUT success in this field depends on your ability to handle your emotions and exhibit patience, thanks for reading.
How I lost 1M$: My Story losing all my money trading Crypto...
Greetings! This is my first post my first post on Reddit would like to share a difficult chapter of my life regarding trading crypto. My apologies in advance for my bad English.
The story began in 2019, when my self-built, successful FBA business was abruptly closed by Amazon. Despite the fact that I was able to earn a substantial amount of profits from it, I now find myself in a position where I need to explore new avenues for income. The 150k I have saved up are the result of eight years of hard work in e-commerce, drop-shipping, arbitrage...
I came across countless videos showcasing the potential profits from trading crypto and being someone who loves to try new things, I thought to myself, "Why not give it a shot?" I spent three months learning the basics of trading, then I started day trading and unfortunately lost 10k dollars in my first month due to making some bad decisions like fomo etc. However, I quickly realized that the key to profitability was to change my strategy. I switched to swing trading and held my first position for six months, resulting in a near two-fold return on my investment. This approach continued to pay off, and in just one year I transformed my starting capital of 150k into a million dollars plus 10k. "I was invested in various alt coins when the value of Bitcoin started to decline, leading to a slow loss of my funds. Despite my efforts, it took over a year for me to return to my starting point of 150k. This period of time was filled with frustration, stress, and anxiety.
Unfortunately, my situation worsened when I made the decision to use leverage in an attempt to regain my financial high, but instead I lost all my money. On top of that, I experienced the loss of my father and my gf dumped me. These events took a toll on my mental health and I struggled with depression and even had thoughts of suicide, like I was in deep back hole with no light and I suffered a lot and still, life was meaningless for me, there is nothing I wanted to do. However, I am now here talking with you today.
So After months of taking antidepressants, I am now ready to start fresh from 0. However, and for a guy like me that dropped school with no degree my options of work are so limited I spent all my time trying to learn graphic design but Unfortunately, I've only received one order on Fiverr in the past three weeks.
I kindly request your assistance in helping my Fiverr gig reach a wider audience by clicking on it and boosting its visibility. This way, I hope to be able to get more clients creative logos and designs: My Fiverr GIG!
Conclusion: Trading has the potential to bring substantial wealth, BUT success in this field depends on your ability to handle your emotions and exhibit patience, thanks for reading.
How I lost 1M$: My Story losing all my money trading Crypto...
Greetings! This is my first post my first post on Reddit would like to share a difficult chapter of my life regarding trading crypto. My apologies in advance for my bad English.
The story began in 2019, when my self-built, successful FBA business was abruptly closed by Amazon. Despite the fact that I was able to earn a substantial amount of profits from it, I now find myself in a position where I need to explore new avenues for income. The 150k I have saved up are the result of eight years of hard work in e-commerce, drop-shipping, arbitrage...
I came across countless videos showcasing the potential profits from trading crypto and being someone who loves to try new things, I thought to myself, "Why not give it a shot?" I spent three months learning the basics of trading, then I started day trading and unfortunately lost 10k dollars in my first month due to making some bad decisions like fomo etc. However, I quickly realized that the key to profitability was to change my strategy. I switched to swing trading and held my first position for six months, resulting in a near two-fold return on my investment. This approach continued to pay off, and in just one year I transformed my starting capital of 150k into a million dollars plus 10k. "I was invested in various alt coins when the value of Bitcoin started to decline, leading to a slow loss of my funds. Despite my efforts, it took over a year for me to return to my starting point of 150k. This period of time was filled with frustration, stress, and anxiety.
Unfortunately, my situation worsened when I made the decision to use leverage in an attempt to regain my financial high, but instead I lost all my money. On top of that, I experienced the loss of my father and my gf dumped me. These events took a toll on my mental health and I struggled with depression and even had thoughts of suicide, like I was in deep back hole with no light and I suffered a lot and still, life was meaningless for me, there is nothing I wanted to do. However, I am now here talking with you today.
So After months of taking antidepressants, I am now ready to start fresh from 0. However, and for a guy like me that dropped school with no degree my options of work are so limited I spent all my time trying to learn graphic design but Unfortunately, I've only received one order on Fiverr in the past three weeks.
I kindly request your assistance in helping my Fiverr gig reach a wider audience by clicking on it and boosting its visibility. This way, I hope to be able to get more clients creative logos and designs: My Fiverr GIG!
Conclusion: Trading has the potential to bring substantial wealth, BUT success in this field depends on your ability to handle your emotions and exhibit patience, thanks for reading.
Cardano Rumor Rundown February 13, 2023
Hey Everyone!
Let’s go….
Newly Covered Today:
- Now the SEC is going after Binance USD stablecoin issuer, Paxos. https://archive.ph/nrgeU
- Jessie Powell (founder of Kraken) posted “I don’t think that any minor differences matter to the SEC, which views all forms of custodial staking as problematic.” If true, this is massively bad for Ethereum and confirms the advantage in Cardano. https://twitter.com/jespow/status/1623825932011155457
- Here’s the actual complaint in the Kraken/SEC settlement. https://www.sec.gov/litigation/complaints/2023/comp-pr2023-25.pdf
- Coinbase has released a comprehensive defense against their “Earn” staking program being classified as a security under the Howey Test and vowed to fight if the SEC goes after them. While I don’t find their reasoning to be bulletproof or extremely persuasive. The value is in the commitment to fight. We need this hard line in the sand right now. https://www.coinbase.com/blog/coinbases-staking-services-are-not-securities-and-heres-why
- The community is predictably conflicted about the possibility of contingent staking. https://twitter.com/IOHK_Charles/status/1624937015824510976
- Here’s a fantastic thread by Sooraj explaining the huge innovative leap forward provided by Ouroboros Genesis for dynamic participation in proof-of-stake systems and making Cardano more secure than Ethereum or Algorand. This is by far the best explanation I’ve seen. https://twitter.com/Soorajksaju2/status/1623748877152034818
- FutureFest obviously understands the importance of proximity audio chat in virtual worlds. https://twitter.com/coc_space/status/1623759580017614848
- Congratulations to MinSwap for its highest one day volume! https://twitter.com/MinswapDEX/status/1623322182670508034
- And just like that….the legend of “Corando” was born. https://twitter.com/MinswapDEX/status/1623322182670508034
- Looks like 3D assets are live for Cardano Island cribs. https://twitter.com/k45tor/status/1623370449869541387
- There’s 30 million ADA now locked in the Djed contract (as of Feb 10). Update as of Feb 12: 31.5 million ADA. https://twitter.com/DjedStablecoin/status/1622298562628407298
Previously covered, but still interesting:
- Whale is 100% correct here. Everyone is sleeping on the biggest dApp in all of crypto. https://twitter.com/cardano_whale/status/1614253315642228744
- Cardano Staking also is the only large DeFi dApp that could mount a robust defense against the regulatory hammer. https://twitter.com/cardano_whale/status/1614247869359480832
- Native assets are a huge advantage over tokens enslaved to smart contracts. https://twitter.com/StakeWithPride/status/1614505271833006081
- A good security reminder. Use a hardware wallet. NEVER input your seed phrase ANYWHERE! Put it on steel and lock it up. https://twitter.com/NFT_GOD/status/1614442055417077763
- MuesliSwap says their concentrated liquidity pools have passed their audit. Stablecoin swaps are also apparently on the way. https://twitter.com/MuesliSwapTeam/status/1612801296938967041
- According to a new study, 19% of US Adults say they own crypto with 4% owning Cardano. Cardano owners are the least likely to have sold in the last month. https://morningconsult.com/cryptocurrency-insights-hub/
- Here’s a screenshot of the crypto rankings from January 2018 for comparison to 2023. If you remove the stables and swap BNB for BCH, Cardano has defended its position perfectly for a half-decade. https://twitter.com/ApeDurden/status/1614820882962337792
- Looking like we’re going to be good on smart contract programming languages. https://twitter.com/k3engine/status/1614759932816916481
- Daedalus 5.2.0 is out and available for download! Remember, there is no “Daedalus Mobile”. That is a scam. https://twitter.com/InputOutputHK/status/1615072725105516551
- Twenty-five pools retired in a single epoch last month. https://twitter.com/StakeWithPride/status/1615155890453368834
- Emurgo has published a guide to online Cardano communities. https://emurgo.io/best-cardano-communities-online/
- This is not a joke: The 3AC boys are trying to raise $25 million for a new exchange they want to call “GTX”. https://fortune.com/crypto/2023/01/16/disgraced-3ac-hedge-fund-bros-seek-to-raise-25m-for-new-gtx-crypto-exchange/
- Over 50k unique wallets now hold ADA Handles. https://twitter.com/adahandle/status/1615399826572869634
- The era of AI influencers is upon us. We probably already have some laying the groundwork right now in Cardano. https://twitter.com/alex_valaitis/status/1615179733645369346
- MinSwap now has multiple token harvest. https://twitter.com/MinswapDEX/status/1615213160297889794
- Wow. I missed this. COTI is launching with Minimal Djed?!? https://twitter.com/RichardMcCrackn/status/1615351297636433921
- Check out page 10 of the Djed whitepaper if you want to understand why the Minimal Djed launch (vs. Extended Djed) is surprising people. https://eprint.iacr.org/2021/1069.pdf
- Ergo’s implementation of the AgeUSD protocol for their SigmaUSD stablecoin also revealed some lessons for implementations of this type of triple asset Stablecoin system. https://ergoplatform.org/en/blog/2021-05-13-bearwhale-saga/
- There is now an automotive project on Cardano. https://twitter.com/Yevhen_ADA/status/1615808805358473229
- The IMF thinks that global regulators “must act fast to stem risk” from crypto. https://content.govdelivery.com/accounts/USIMF/bulletins/3437c32
- Matthew Plomin brings us a great thread summarizing recent suggested crypto regulations from the Bank for International Settlement. Yep…as you would expect, they don’t love us. https://twitter.com/MatthewPlomin/status/1615810227898617856
- Garlinghouse is saying he’s looking for a decision in the Ripple case this year. He’s indicating the chance of settlement is a Venn diagram with no overlap. https://twitter.com/i/status/1615748401098022915
- Charles may be pondering an acquisition of CoinDesk from DCG. Interesting times! https://twitter.com/IOHK_Charles/status/1616149970348040193
- Luckily for those of us who already know, the asymmetry of information regarding Cardano is still very strong. https://twitter.com/StakeWithPride/status/1612953545376161796
- In-game transactions are now available on CardaStation! https://twitter.com/JoyeousT/status/1616192980192493568
- The Web3 talk with Charles at Google is now available. https://www.youtube.com/watch?v=rPr3qHbHvmU
- SEC declares war on “so-called governance tokens” in press release regarding Avi Eisenberg charges. https://twitter.com/lex_node/status/1616521824216702977
- There was a network anomaly last night that caused 50% of nodes to disconnect and restart. The network behaved as expected and impact was low…similar to delays sometimes seen at epoch boundaries. IOG is investigating. https://discord.com/channels/826816523368005654/892793958097375282
- Cardano is one of the top 3 most loved cryptocurrencies when counting which coins are the most loved by count of countries in which they are #1. https://twitter.com/cardano_whale/status/1617029590261858304
- ChatGPT just got a B or B- in a core Wharton MBA course. Imagine what it will be able to do in a few more years. https://www.ft.com/content/7229ba86-142a-49f6-9821-f55c07536b7c
- Apparently, ChatGPT has also passed the USMLE. https://twitter.com/noor_siddiqui_/status/1617194845810077697
- Charles released a video to address the network anomaly. He says it appears to have been a transient issue probably due to a collection of different factors happening simultaneously and doesn’t seem to be reproducible. The network behaved as designed and self-healed. https://www.youtube.com/watch?v=RJvy2tqkE4U
- Here’s some actual spying for you. This report just came in related to the unusual looking photos we examined on the channel in CRR #522. https://twitter.com/scottj44/status/1617341712724299776
- Big things happening in Cardano streaming media! https://twitter.com/Padierfind/status/1617620083005886464
- Just in case this wasn’t already clear. https://twitter.com/TheCryptoCPA/status/1617666138292490241
- Apparently book.io will be minting on both Cardano and Ethereum? https://twitter.com/book_io/status/1617180699970392068
- A16Z is (like many) pushing for regulation of the user interface instead of the protocol. They want business regulated instead of software in crypto. https://twitter.com/milesjennings/status/1617938092203311105
- The difference in regulation of protocols vs. dApps may end up being more practical than conceptual (protocol is already deployed and out there on-chain maybe by anon devs while somebody who can be served is currently paying to host the dApp on servers). https://twitter.com/lex_node/status/1617950253201883137
- A very good point about closed source “dApps”. https://twitter.com/berry_ales/status/1618002911262560257
- ETH withdrawals are set up so that it would take one year for everyone to unstake? Yes…yes…sounds very pro-consumer. https://twitter.com/StakeWithPride/status/1617565965923024896
- ADA Handle released a post-mortem on the emergence of a double mint. This is commendable transparency. https://twitter.com/adahandle/status/1617946159980634112
- Paima Studios is developing a player vs. player tower defense game. https://twitter.com/PaimaStudios/status/1617961261165334531
- Djed launch is scheduled for next week. https://twitter.com/COTInetwork/status/1617952207357509632
- Liquid is launching next week! https://twitter.com/liqwidfinance/status/1618339547292782593
- There are reports of a hack of the Mutants NFT platform. https://twitter.com/JSHyCS/status/1618112742531174402
- Speculation is that the reported Mutants NFT Hack may have been due to mishandling of franken addresses. https://twitter.com/SebastienGllmt/status/1618172928906125312
- Seeing reports that Djed will launch with only one wallet (Nami). Is this why? https://twitter.com/Jennycitalinda/status/1618416739397832704
- The first Cardano 360 of 2023! https://twitter.com/InputOutputHK/status/1618274840934494208
- The World Mobile sidechain is being built on IOGs new Sidechain Toolkit and will be Tendermint based. This is a big step forward toward the Cardano Layerverse. https://twitter.com/WorldMobileTeam/status/1618675139239096324 https://worldmobile.io/blog/post/working-towards-an-interoperable-future
- Here’s a good very simple explainer article on Tendermint from Binance on Tendermint. https://academy.binance.com/en/articles/tendermint-explained
- Here’s an interesting back and forth thread around how big Cardano projects are addressing Oracle solutions. https://twitter.com/SCATDAO/status/1618652821343313922
- The Dragon wants to turn miners and validators into money services businesses and also “address a major gap with respect to unhosted digital wallet.” Thanks, SBF! I was hoping we would get back to this instead of some kind of positive comprehensive framework for crypto. https://twitter.com/lex_node/status/1618676772266217472
- Ongoing aftermath updates in the Mutant NFTs hack. https://twitter.com/JSHyCS/status/1618373108590837760
- Very interesting post regarding potential World Mobile expansion. https://twitter.com/CloverNodes/status/1618709821867302912
- Stripe apparently just blocked NMKR’s business account. We are still so early. https://twitter.com/Padierfind/status/1618555942727208962
- Anticipation is building for what’s coming in Cardano this year and next. https://twitter.com/conraddit/status/1618409005621342208
- Charles dropped a video on the settlement layer vs. the computation layer. https://youtu.be/cvROzVEAxAM
- Here’s a great thread on validator recovery in Cardano (Nakamoto consensus) vs. BFT (Solana, Aptos, Cosmos). https://twitter.com/hans_the_crypto/status/1619513935656542209
- The value of Cardano’s true liquid staking is being massively slept on when liquidity-by-derivative staking arrangements are subject to depegging that has toppled even large crypto institutions in the past. https://twitter.com/jconorgrogan/status/1619782908826521600
- Coti has dropped a new article describing Shen stakepool delegation & minting/burning minimums. https://twitter.com/COTInetwork/status/1619784132447567873
- The Cardano Foundation has released a video on its core focus areas: 1) operational resilience, 2) education, and 3) adoption. https://www.youtube.com/watch?v=89d8t72C4Uk
- Liqwid has deployed to the preview testnet. https://twitter.com/liqwidfinance/status/1620198616550998016
- New messaging on crypto from the Biden Administration. Apparently, deeper ties between crypto and tradfi would be a “grave mistake”. https://www.whitehouse.gov/nec/briefing-room/2023/01/27/the-administrations-roadmap-to-mitigate-cryptocurrencies-risks/
- This CoinDesk article from a former regulator makes the point that regulators think we already have regulatory clarity on crypto. What we really want are changes to the status quo. https://www.coindesk.com/consensus-magazine/2023/01/27/regulatory-clarity-financial-watchdogs-could-not-be-more-clear/
- Coti has announced that the Djed minimums are to bootstrap liquidity at launch and may be reduced in the future. https://twitter.com/DjedStablecoin/status/1619962502418407426
- Djed is now live. https://twitter.com/COTInetwork/status/1620392034124328960
- SundaeSwap has announced their own Governance Portal. https://twitter.com/SundaeSwap/status/1620485846125412357
- Given the history of AgeUSD type algorithmic stablecoins, some ecosystem members are expressing heavy doubts regarding the future position of Shen holders. https://twitter.com/zygomeb/status/1620427967179681794
- Paima Studios has joined the Microsoft for Startups Program. https://twitter.com/PaimaStudios/status/1620335885131862017
- It looks like FutureFest debuted some new features in their event on Feb. 1 with Fever Dream Friends and Skull Candy. https://twitter.com/futurefestxr/status/1620902250720927744
- This is actually very big progress on the mainstream exposure front courtesy of Lex Fridman. https://www.youtube.com/watch?v=beZdNf_mO1o
- The UK Treasury has released its long awaited proposal for crypto regulation. Looks like they’re trying to be technology agnostic and focused on a principle of “same risk, same regulatory outcome”. https://www.gov.uk/government/consultations/future-financial-services-regulatory-regime-for-cryptoassets
- The Fed has hiked the federal funds rate by 0.25% bringing the target range to 4.5-4.75% This is a much smaller raise than the 0.50% in December and the four consecutive 0.75% increases just prior to that. https://www.cnbc.com/2023/02/01/fed-rate-decision-february-2023-quarter-point-hike.html
- Here’s a great thread from Sooraj of This Week in Cardano on the Cardano Settlement Layer (CSL) vs. Cardano Computation Layer (CCL) and Cardano Sidechains including the new Cardano Sidechain Toolkit from IOG. https://twitter.com/Soorajksaju2/status/1620564722515861505
- Here’s an interesting new Cardano statistics site. https://peerreview.money/
- Liqwid has launched on Mainnet (Feb 2). https://twitter.com/liqwidfinance/status/1621129278518890497
- Cardano is now arguably “DeFi feature complete” depending on your definition. https://twitter.com/cardano_whale/status/1621092500093145088
- Plus….Liqwid has dark mode on Day 1. Let darkness reign! https://twitter.com/liqwidfinance/status/1620985328118157313
- The World Mobile exhibit (fan built) in Carda Station looks pretty good. https://twitter.com/JoyeousT/status/1621225742435745793
- World Mobile says it’s going to increase its Youtube efforts. This will be good for visibility of a very large Cardano RealFi project. https://twitter.com/WorldMobileTeam/status/1621191509218365444
- Paul did a great interview with DC and Florian of Liqwid today (Feb 2). https://www.youtube.com/watch?v=K8F_f4rLipA
- COTI has published a Djed launch recap. https://medium.com/cotinetwork/djed-launch-recap-b5ec293e20dd
- Charlie Munger at 99 years old thinks we should ban Bitcoin. Also thinks the leader of the CCP is awesome. https://twitter.com/ODELL/status/1621151302838525952
- There is now a proposal in the Liqwid governance forum to reduce LQ token emissions. https://twitter.com/liqwidfinance/status/1621351623887917056
- ImperatorLang made a great thread about how to get started building on Cardano with no prior programming experience. https://twitter.com/ImperatorLang/status/1622283773759950849
- Shocker! VCs are not going to do what’s best for crypto communities. https://twitter.com/Dogetoshi/status/1620602151830704129
- Some are pointing to A16Z’s involvement in a rival bridge and calling it anti-competitive behavior. https://twitter.com/ChrisBlec/status/1622201701921964035
- Apparently, there is now 30 million ADA locked in the Djed contract. Not bad in the first week. https://twitter.com/DjedStablecoin/status/1622298562628407298
- Behold the Cardano media blackout in all its glory! https://twitter.com/cz_binance/status/1622528162499383299
- At Messari you can see that our recent 24h active address count is 73k (as of Feb 6). https://messari.io/asset/cardano/metrics/all
- Having watched Martin throughout the '90s and Bad Boys (about a million times), it's surreal & amazing to see that the content is interesting to a guy who entertained me so much. Thank you immensely! https://twitter.com/realmartymar/status/1622710686647287808
- Binance dot com (but not binance dot US) has announced a temporary pause of US dollar & US bank transactions. https://twitter.com/binance/status/1622669988560609293
- Some are linking this to issues with its banking partner, Signature. https://gizmodo.com/binance-bank-transfers-crypto-ftx-1850079035
- Liquid has published a summary of what’s happening with LQ tokenomics and utility. https://liqwidfinance.substack.com/p/lq-tokenomics-and-utility
- A very legitimate point about the stark contrast between ETH and Cardano on governance. Do you want a bunch of guys locked in a room for a week or transparent on-chain governance? https://twitter.com/StakeWithPride/status/1623064762610499586
- If you held all of the Cardano Summit 2021 NFTs at the Virtua snapshot in November and still haven’t grabbed your free miner bot, there is a window open right now (Feb 7). https://twitter.com/landbots_virtua/status/1623005985324380181
- Some in the traditional finance world already see where crypt is going. https://www.forbes.com/sites/ninabambysheva/2023/02/07/how-mastercard-goldman-sachs-and-other-tradfi-titans-are-using-blockchain-to-rewire-global-finance/
- Here’s the one-tweet summary of that article if you run into the paywall. https://twitter.com/Blockworks_/status/1622966028299902977
- Artifact Moon has released their beta 3d Moon Map with the ability to buy parcels from the map. Seems beautiful and responsive. https://twitter.com/ArtifctApp/status/1623045948690800640
- Fed Chair Jerome Powell was interviewed at The Economic Club of Washington today. https://www.youtube.com/watch?v=kkC4LuuxOg4
- CoinDesk wrote an article about the activity in SundaeSwap governance. https://www.coindesk.com/tech/2023/02/08/cardano-dex-sundaeswap-floats-first-on-chain-governance-proposal/
- Ladies and Gentlemen, allow me to present the king of all bad crypto policies. https://twitter.com/brian_armstrong/status/1623459203150131201
- Unsurprisingly, the crypto crackdown that was long predicted for after the mid-term elections is also taking place via banking access (once again). https://twitter.com/AP_Abacus/status/1623346563069116417
- Nice try, Coin Center! The real difference is between custodial staking and non-custodial staking. https://twitter.com/NeerajKA/status/1623469303545593856
- Liquid protocol was temporarily paused via multisig today for a security issue fix. https://twitter.com/liqwidfinance/status/1623345076016406530
- The UK has released a consultation paper on plans for the Digital Pound saying “it is likely” to be needed. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1134845/CBDC_WEB_PDF_-_7_FEB_2023_1130am.pdf
- Apparently, you can now invite the public to come check out your Cardano Island Crib. https://twitter.com/VirtuaMetaverse/status/1623365199032946697
- Get ready for lots of Cardano essays. Twitter Blue people now have 4k characters. https://twitter.com/i/web/status/1623411400545632256
- Looks like Kraken was the first staking target of the SEC. https://www.sec.gov/news/press-release/2023-25
- Gensler released a video which very specifically described staking in terms of “escrow” or “if you transfer your tokens to a staking-as-a-service provider”. Neither of these is common in normal Cardano staking or delegating. But, it sounds a lot like the Ethereum staking world. https://twitter.com/GaryGensler/status/1623777842000539648
- Rumors are that other exchanges & stablecoin providers will receive letters outlining charges soon. One posted rumor is mentioning Circle (USDC) & Paxos specifically. https://twitter.com/AP_Abacus/status/1623785788725944322
- Here’s some wild speculation from one poster: if Circle agrees to limit/censor USDC in some way, it might lead to demands from ETH users to employ some kind of social slashing, which could cause a schism (and create fork potential) in that ecosystem. https://twitter.com/jessebabies/status/1615769704353734656
- Charles posted a reply to Brian Armstrong’s staking tweet that savagely highlights the regulatory problem with Ethereum’s custodial/slashing based staking. https://twitter.com/IOHK_Charles/status/1623530227870896130
- Charles also dropped a video explaining how (in the very worst scenario) Cardano staking could still operate via “contingent staking” even if SPOs were regulated. https://www.youtube.com/watch?v=J7y2tvpHY5w
~Army of Spies
Promising Cryptocurrencies to Buy in 2023
https://cryptotale.org/promising-cryptocurrencies-to-buy-in-2023/
CryptoTale Aa MARKET NEWS Promising Cryptocurrencies to Buy in 2023 Last updated: 2023/02/13 at 10:48 AM By CryptoTale Staff 38 mins ago Ago 4 Min Read Share Promising Cryptocurrencies to Buy in 2023 The current global cryptocurrency market cap (MC) is $1.07 trillion, per CoinGecko. While the said MC has fallen 46.27% in about a year, some cryptocurrencies still look promising.
Bitcoin (BTC)
Per CoinGecko, at press time, the Bitcoin (BTC) market cap (MCAP) is at $421 billion, the market cap of stablecoins is at $138 billion. The BTC MCAP has reportedly reached a high of $1.3 trillion. Nations and retailers have begun embracing BTC as their official legal tender. Cathie Wood, CEO, Ark Invest, forecasts BTC price to pass above $1 million by 2030.
At press time, BTC is trading at $21,823.68, per CMC. In one year, BTC has reached a high of $48,086.84 and a low of $15,599.05, per CMC. The SEC’s Gary Gensler also does not reportedly consider BTC a security (but an original cryptocurrency).
But there’s more to cryptocurrencies than just BTC or stablecoins. Let’s examine why Cardano, Ripple, Dogecoin, Solana, Shiba INU, and Uniswap look promising in 2023.
Cardano (ADA)
A lot is forthcoming for the Cardano ecosystem, whilst its undervalued native ADA token is trading at $0.37, at press time, per CoinMarketCap (CMC). Launching in 2017, the Cardano blockchain got the smart contract function added only in 2021.
Cardano is yet to embrace dApps, DeFi, meme tokens, web3 apps, NFTs, and the Metaverse. A highly valuable cryptocurrency, ADA’s reported market valuation is $8.9 billion. At the end of 2025, bulls reportedly predict ADA’s price to reach $25.
Ripple (XRP)
Sending chills down the spine of the SWIFT payment system, XRP has been facing the ire of the regulators—the U.S. SEC. Financial institutions globally have embraced XRP, zooming its price in 2018, whilst trading at $0.38, at press time, per CMC. XRP’s SEC case’s culmination would soar its price, per analysts. By 2025, XRP price might reach $1.5, and eventually to $6.8, per estimates.
Dogecoin (DOGE)
Elon Musk’s Dogecoin tweets reportedly soared DOGE price 12,000% by 2021. But DOGE is not a joke. In fact, DOGE tips and donates to charity, whilst enabling affordable purchases. After buying Twitter in 2022, Musk reportedly might accept DOGE as a form of payment soon. DOGE is down 80% due to the turn of events. At press time, DOGE is trading at $0.08, per CMC.
Shiba Inu (SHIB)
SHIB reportedly soared 48,000,000% during the 2021 bull market. SHIB – The Metaverse, a P2E gaming world, has use cases for a decentralized MMORPG. It has SHIB, BONE, LEASH as transaction enabling gas fee tokens. A Layer-2 (L2) solution has been developed by the Shiba Inu Group to boost its scalability and transactional suitability. At press time, SHIB is trading at $0.00001283, per CMC.
Uniswap (UNI)
Uniswap reportedly has over $3.3 billion in locked value. Per CMC, UNI trades at $6.52, at press time. UNI enables anonymity just when traders and investors have begun to be cautious of personal information sharing.
Decentralized exchanges (DEXs) have been reportedly embraced by over 300 dApps (decentralized applications) and DeFi protocols, at press time. Privacy concerns, fresh integrations, and increasing platform usage are set to boost UNI tokens’ and Uniswap’s valuation.
Solana (SOL)
A thriving smart contract ecosystem, Solana implemented a smart contract pretty early. The Solana network hosts various distributed ledger applications, and web3. Famous meme currencies and a budding metaverse also call Solana their home. Analysts predict the SOL token price to reach $50 by 2025. SOL, at press time, is trading at $20.86, per CMC.