Cardano Daily Discussion - May 24, 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).

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⚠️ 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):

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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.

See this post for more examples of what they look like

Do not be fooled!

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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 ⚠️

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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

Keep getting dms from bots on twitter sending me log-ins for random accounts that apparently have crypto balances?

Hi y’all, I do not use crypto in any capacity and am the average twitter user, AKA I don’t tend to like/comment/follow people that use crypto, so i’m sorry if my jargon is incorrect. but I keep getting dms from accounts that seem to be bots sending me log-in information to access cryptocurrency wallets. The two messages go like this “Hey twitter handle I am going on vacation, watch and manage my bitcoin username: Username1 password: Fakepassword Balance: 40 bitcoin Login URL: exampleURL . com” Fake username and password used in the event this is real and I could get money out of it, but I’ve received 2 of these dms and actually successfully logged in to an account that appeared to have bitcoin in it (i logged in from an old ipod touch that was connected to public wifi and had all of its data wiped bc i’m paranoid). The two URLS i’ve been provided are uu11551 .com and btc8558 .com, my guess is that they are scams that somehow gain access to my own crypto wallet or bank account after I attempt to transfer the bitcoin to myself. I tried googling this but didn’t get any relevant results so i thought I’d ask y’all if you’ve heard of this scam or if miraculously randos on twitter are giving me access to free bitcoin

Do you think finance/commerce can be self-taught?

A bit of background, I have accounting, coding, business experience, I am thinking of doing a master of finance part-time for self development. I work in accounts/accounting, and I do not intend to work for banks/fund. I do self-manage some of my money.

I am curious and eager to learn about things they talk about the economy. I didn't cash out during the height of Bitcoin because I didn't know the relation of interest rate and money flow out of risky assets. I "lost" a big unrealised profit 2021. I knew zero about monetary policies... which are basic knowledge everyone should know. I don't even know that I don't know what I should know, I think it's called "unknown unknowns". I hope one day I can understand and talk about things that often show up on the news and reddit, to understand and react to policies and events... I don't want to make another Bitcoin mistake.

As I explore the contents of the degree I find that many books exists on the market. The principles also do not change too much that the books are not dated by any means. Although the degree is 70% sponsored by the government, the time and money commitment is still significant, like ~$ 10.000 for 8 subjects. Some courses are also built around the books; I feel like reading books is enough. I feel like self-learning is a possible path with plenty of cheap resources.

I tried two books,the well known Investments and Corporate Finance books; the first two chapters of each are quite gentle. I did half of the MIT Theory of Finance 1 video series, they are very well taught with many examples and real-world analysis.

On the other hand, I worry that I am underestimating the teaching of finance. I guess high-profile lecturers do contribute to the learning experience.

Has anyone self-learn finance to a proficient level?

To those that have degrees, do you find the University education really valuable, well guided, and efficient?

First Republic Woes Renew Banking Crisis Fears

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Weekly News Wrap Up

Fears of a banking crisis and credit contraction plagued markets again last week following First Republic Bank’s disappointing earnings and potential $100B asset sales. Technology fared better from better-than-expected earnings by Meta Platforms Inc. and Microsoft. In Crypto, the European Union (EU) became the first major jurisdiction to approve a comprehensive crypto regulatory framework (MiCA), and markets were spooked by a “buggy” alert from Arkham Intelligence that wallets linked to the U.S. government and Mt. Gox had moved large amounts of BTC.

Price action for the week: U.S. equities managed to eke out a gain with SPX+0.87%, DJIA +0.86% and NASDAQ +1.28% as better-than-expected earnings from Big Tech outweighed renewed fears of a banking crisis. BTC +6.02% and ETH +0.50% after a volatile week, trading between $27K-$30K and $1,790-$1,965 as they struggle to regain key psychological price-levels of $30K and $2K respectively.

On-chain, @glassnode suggests that neither the US Government nor Mt. Gox Exchange Reserve is spending any BTC from the addresses it monitors. On 31 March 2023, court documents indicated that the US Government plans to sell over 41,000 BTC, seized in connection to the Silk Road case of James Zhong, in four tranches throughout 2023. This news raised concerns about the potential selling pressure on the Bitcoin market. The first chart above tracks the balance and transfers of Bitcoin seized publicly by the US Government, while the second chart tracks the total number of Bitcoin in the Mt. Gox Exchange Reserve. These charts provide valuable insights into two significant events that have the potential to impact the Bitcoin market.

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Cryptocurrency News

• European Union (EU) parliament passes MiCA by 13:1 margin. The new regulation covers the supervision, consumer protection, and environmental safeguards of crypto-assets, and targets crypto-assets not regulated by existing financial services legislation. The law will start applying next year, subject to the final vote in the Council of the EU on 16 May.
  Our View: the EU has become the first major jurisdiction to approve a comprehensive crypto regulatory framework that could provide a boost for EU crypto businesses with greater clarity. See the screenshot below from Circle’s Director of EU Strategy and Policy, Patrick Hansen, for an overview of MiCA.
• South Korea’s sweeping crypto bill passes first regulatory hurdles. Legislators in South Korea passed a first-phase review of proposed cryptocurrency regulations that include relatively harsh sentencing recommendations.
• Coinbase takes legal action against the SEC. The exchange asked a federal court to order the SEC to provide “regulatory clarity” around how existing securities laws might apply to the digital asset sector. The SEC issued Coinbase a Wells Notice last month, and this filing could be viewed as a preemptive move by the company to argue that the SEC’s approach does not provide sufficient regulatory guidance.
• China looks to expand its Central Bank Digital Currency (CBDC) use-case for its Belt-and-Road initiative. A plan promoting the use of the digital yuan in cross-border trade was issued in the city of Xuzhou, a trade hub for rail-exports to Europe. It plans to promote the use of the digital yuan for services and storage fees for goods carried by rail, with future plans for tax and utility payments.
• Franklin Templeton expands its money market fund on Polygon. The company said its OnChain U.S. Government Money Market Fund (FOBXX) is now supported on Ethereum via layer 2 blockchain Polygon. The fund is the first U.S. registered mutual fund to use a public blockchain to process transactions and record share ownership, the investment firm claimed in the press release.
  Our View: once again we’re seeing a TradFi giant embrace the technological benefits that blockchain technology can offer, and could pave the way forward for other firms to follow.
• ‘Winter is over’ and bitcoin may hit $100,000 next year, says Standard Chartered. The recent U.S. banking crisis spurned a price rally in bitcoin and re-established its core use case “as a decentralized, trustless and scarce digital asset,” the bank said. It also pointed to the end of the Fed’s interest rate hikes, the next halving of bitcoin, and regulatory benefits.
  Our View: pretty bullish view from Standard Chartered, but the report does highlight valid price drivers for BTC
• Binance.US backs out of $1B Voyager asset purchase, blames regulatory environment. The parties got the go-ahead on the deal last week after overcoming several objections, but Binance.US changed its mind.
  Our View: not surprising given the recent CFTC enforcement action against Binance and its CEO. As a conservative measure, the company is probably looking to diversify its exposure out of the U.S., like many other crypto firms, given the stricter regulatory environment we have witnessed this year
• Visa is hiring engineers for ‘ambitious’ crypto product roadmap. The company said last month that it was committed to its crypto strategy, despite high-profile failures in the sector over the past year.
• Arkham denies buggy Mt. Gox alerts to blame for 7% Bitcoin price crash. The price of BTC crashed 7% in one hour on 26 Apr after the analytics firm incorrectly sent out an alert that wallets linked to the U.S. government and Mr. Gox had begun shifting large sums of BTC.
• Bybit to introduce mandatory Know-Your-Customer (KYC) requirements starting 08 May. Users who have not completed KYC by then can only “close existing open positions or orders, return loans, or withdraw. Any new trading activities will be restricted”.
• CertiK: Ordinals Finance conducted a $1 million rug-pull. The Ethereum-based DeFi protocol that allows users to lend and borrow inscriptions reportedly pulled 269 million OFI tokens out of its smart contacts and its social media accounts and project website was deleted.

Investment Consideration

Our best strategy for the moment is to take at least 1-3 years in Moderate Portfolio because it has a good defense with 50% Fixed Deposit , 30% In DCD and 20% in Staking.  After  all,  we  still  have  potential  returns  in  DCD  and  Staking,  especially in BTC.

Sign me up for the Crypto Investor Briefing Newsletter

SUBSCRIBE

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Disclaimers
The above information and views provided by Tokenomy are for general informational purposes only and do not constitute an opinion nor offer or recommend, by or on behalf of Tokenomy, that any person enter into or buy or sell any particular security, investment product, or token, or participate in any other transactions. Tokenomy does not make any representation as to the accuracy, reliability, or completeness of the information herein and does not accept liability for any direct, indirect, incidental, specific, or consequential loss or damages arising from the use of, or reliance on, the information contained herein. This information is for general purposes only and is not intended, and should not be construed or relied upon as legal, accounting, tax, or financial advice or opinion provided by Tokenomy and should not be used or relied on by anyone for any other purpose.
This information herein is made available to you as confidential information. It may not be disclosed, reproduced, or redistributed to any other person, in whole or part, except with the prior written consent of Tokenomy.
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MINING DISRUPT® 2023 EXHIBITION, We are Coming!

X-ON MINING Coming The MINING DISRUPT® 2023 EXHIBITION

MINING DISRUPT® 2023 EXHIBITION, We are Coming! We are excited to announce that from July 25 to 27, 2023, we will

be attending the MINING DISRUPT cryptocurrency mining exhibition, located in Miami, Florida. This exhibition is renowned as

the world’s largest Bitcoin mining expo, and we are proud to be a part of it.

Our booth number is No. 79（X-ON MINING）, and we invite all attendees to come and visit us to learn

more about our cutting-edge products and services. At our booth, we will be showcasing our latest cryptocurrency

mining equipment, which is designed to be highly efficient and cost-effective.

The linkage between MINING DISRUPT and X-ON MINING

The MINING DISRUPT website lists some of our information. You can contact us on any of their official channels and check with them.

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Showcase our products and services

The exhibition will be held at the Miami Airport Convention Center, which is a state-of-the-art venue that provides an ideal setting

for showcasing our products. We are excited to be part of this event, which is expected to draw in thousands of attendees from around the world.

At the MINING DISRUPT® 2023 EXHIBITION, we will have the opportunity to meet with industry leaders, experts, and enthusiasts to discuss

the latest trends and developments in the cryptocurrency mining industry. We believe that this event will provide us with a unique

opportunity to showcase our products and services to a global audience.

In addition to exhibiting our products, we will also be hosting a number of interactive sessions and presentations to help attendees learn more

about the cryptocurrency mining industry. We will be discussing the latest industry trends, best practices, and technologies that

can help businesses and individuals achieve their cryptocurrency mining goals.

Wish us success

Our team of experts will be on hand to answer any questions that attendees may have, and we encourage everyone to come

and visit us at our booth. We are confident that the MINING DISRUPT® 2023 exhibition will be a great success, and we look forward to seeing you there.

In conclusion, we are thrilled to be a part of the MINING DISRUPT® 2023 cryptocurrency mining exhibition. With our booth located at No. 79,

we invite all attendees to come and visit us to learn more about our products and services. We believe that this event will provide us

with a unique opportunity to showcase our products and services to a global audience and we look forward to meeting you all there.

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Daily Announcement Thread - May 23, 2023

⚡️ Welcome to r/Bybit Daily Announcement Thread!

Please utilize this thread for all official Bybit Announcements!

If you see posts on the front page that are better suited for this discussion thread, please help out by directing the OP to this thread instead. Thank you!

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📢 Copy Trading Exclusive Update: Partial Closing of Positions Now Supported!

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⚡️Master Traders can now close their positions by percentage, providing a more streamlined and efficient Copy Trading experience.

✍️ Learn more here

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🥳 Join the Africa Spring P2P Lucky Draw With 100% Chance of Winning

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✈️ A 2022 Hyundai Accent, a trip to Dubai, Bitcoin, Macbooks, iPhones and many more prizes await you.

📈 Simply deposit and trade to to have a chance of winning. New users will get a winning ticket when they complete a first time deposit using P2P of at least $50 within 7 days of signing up!

👉 P2P Trading
👉 More info
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🤩 Have You Tried ApeX Pro Yet?

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🦍 Get in on the DEX action with ApeX Pro, and be in with a chance of sharing the 90,000 $USDC prize pool we've prepared for you!

👉 Learn all about it now

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📸 Ready for the Snapshot Period? The Eldarune ($ELDA) IDO Snapshot Period Begins in 2 days!

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⏰ May 25, 10AM UTC – May 28, 2023, 10AM UTC

📷 3 snapshots will be taken per day during this period.

👉 Visit Bybit Web3 IDO to subscribe

📚 Learn more-----------------------------------------------------------------------------------------------------------------------------------------------

🇻🇳 🇲🇾 Join Bybit Vietnam & Malaysia to participate in the "Summer Mystery Box" event to win countless attractive prizes with a 100% winning rate.

Participation period: May 16, 12PM (noon) UTC - Jun 16, 2023, 12PM (noon) UTC

Simply Deposit $100 with P2P within 7 days from your first deposit to receive a gift box and instantly open it to get 5 $USDT! At the same time, you can complete trading missions to receive more new gift boxes!

Prize Structure:

- $40K Tokens in $USDT, $DOGE, $BIT, E$TH

- 5 PS5 Game Consoles

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- 1 Honda Vision Motorcycle

Special Prize: Airdrop 10K $USDT (Over 45K MYR)!

🎁 Open the gift now!

🔔 Main News of Previous Ultima Week!

🔹 Friends, it’s time to share the news of the previous busy week:

https://reddit.com/link/13phdcx/video/q756uql3aj1b1/player

▶️ Starting from June 1, 2023, ULTIMA Farming Licenses will no longer be available

Friends, starting June 1, 2023, you won’t be able to buy ULTIMA Farming Licenses using existing payment methods. It will be possible to buy licenses for farming ULTIMA tokens only for the available 40% of the farming profit, that is ULTIMA Upgrade Balance, if any.

If you purchase ULTIMA Farming Units after June 1, 2023, you will see only 60% of the farming profit in your farming transactions, as license upgrades from the 40% ULTIMA Upgrade Balance will no longer be available.

▶️ The way farming technology is replacing mining

Farming is an innovative approach to token generating that doesn’t require substantial investments and costly equipment. The Nigerian Nairametrics called the ULTIMA ecosystem a pioneer in farming development. Thanks to this technology, each user contributes to the ecosystem development.

Read more via the link:

https://nairametrics.com/2023/05/16/low-entry-to-cryptocurrency-world-say-no-to-mining-say-yes-to-farming/

▶️ Tickets for ULTIMA MOMENTUM CONVENTION EUROPE are available for download

There are only a few days left before the major event of 2023! You can download your event ticket in your personal account at platinworld.com. Be sure to download your ticket. If the ticket isn’t downloaded, both the registration and event ticket will be automatically cancelled.

Guide to download:

✅ Log in to your personal account.

✅ Go to the Our events tab.

✅ Download your ticket and print it out.

▶️ How does Ultima promote blockchain services development?

Blockchain technology is gaining more and more popularity these years. The German resource MMnews considers Ultima a powerful ecosystem that provides blockchain services to all users and makes the technology an integral part of their daily routine.

Read about the benefits and features of ULTIMA here:

https://www.mmnews.de/bitcoin/198677-ultima-oekosystem-oeffnet-die-tuer-zu-einer-riesigen-welt-von-blockchain-dienstleistungen

🔹 Enjoy your busy Ultima week!