Friday, October 28, 2022

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News: Bitcoin could rally to $63k ahead of next halving: Matrixport

"Be fearful when others are greedy and greedy when others are fearful," legendary investor Warren Buffett once said.

Perhaps now is the time to be greedy in the crypto market, as the battered Bitcoin (BTC) could soon find relief and rally to $63,000 by March 2024, when the cryptocurrency is likely to undergo halving – a programmed code aimed at reducing the pace of supply expansion by 50% every four years.

That's the latest forecast from Markus Thielen, head of research and strategy at crypto services provider Matrixport, which has $10 billion in assets under management.

The positive prediction is based on the assumption that bitcoin will repeat the bullish price action seen in the lead-up to the July 2016 and April 2020 halvings. On both occasions, bitcoin ran into bullish winds 15 months ahead of the halving and, in the halving month, traded 39% higher from where it changed hands two years ago.

So, if history is a guide, bitcoin could see a change of fortunes starting next month and rise to $63,160 by March 2024 to trade 39% higher than the March 2022 price of $45,538.

"Prices started to rally 15 months before the next halving (November 2022) and they tend to finish 39% from where they traded 24 months prior. This would imply that bitcoin trades around $63,160 (March 2022 at $45,538\(1+39%) = $63,160) by March 2024," Thielen wrote in the latest edition of Matrix on Target note.*

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If history is a guide, bitcoin could run into bullish winds starting next month. (Matrixport Technologies)

Past performance is no guarantee of future results. That said, history often rhymes and the macro outlook could improve in the coming months. The Fed officials recently hinted at a slower pace of monetary tightening from December. Besides, there are signs of China softening its stance on crypto, according to Thielen.

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"The timing of Hong Kong potentially legalizing retail crypto trading in order to become a crypto hub right after China's Party Congress, which is held only twice every decade, signals that China is changing its stance towards crypto," Thielen noted.

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"Russia has also changed its stance in light of the economic sanctions. President Putin and China are seeking an alternative to the USD system. Together with Saudi Arabia, which desires to join the BRICS nations and is keenly interested in upgrading their economy into Web3, a new multi-year crypto bull market might be starting," Thielen added.

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Bitcoin has seen three halvings to date. Prices soared from $8,800 to $69,000 in 18 months following the third halving dated May 12, 2020.

https://preview.redd.it/7kku9tz0rmw91.png?width=2439&format=png&auto=webp&s=1f57ff4f99504f5c5087735c54fbb9670c970b90

The fourth halving was initially slated to happen in May 2024. However, with the hash rate or computing power dedicated to mining blocks surging during the bear market, the halving is now expected to take place in March 2024.

After the event, per-block paid to miners will drop from 6.25 BTC to 3.12 BTC, bringing the cryptocurrency's inflation rate down to 1.1%. Bitcoin miners solve complex algorithmic problems to mine blocks and verify transactions in return for BTC.

The cryptocurrency's fixed monetary policy of halving supply expansion every four years contrasts with the ever-increasing fiat money supply. That has motivated many, including business intelligence firm MicroStrategy, to adopt bitcoin as a reserve asset.

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Personally, why would I wait for the halving to happen when I can take action now and get my hands on low-mcap altcoins?

Surely, this will be a catalyst for a bull run but that's a pretty long time. I believe that taking action and risking it during bear markets is the key to making it big in the next bull run. Having said that, I'd highly suggest getting your hands on Telos.

Consider checking Telos and its EVM.
The Telos EVM is the most powerful and scalable Ethereum Smart Contract platform built to power Web 3.0. Telos features a robust, third-generation, ESG-compliant evolutionary blockchain governance system, including smart contracts, advanced voting features, and flexible and user-friendly fee models. In addition, Telos supports the blockchain ecosystem by serving as an incubator and accelerator for decentralized applications through development grants.


⟳ 1 apps added, 30 updated at f-droid.org

⟳ f-droid.org from Thu, 27 Oct 2022 18:42:47 GMT updated on Fri, 28 Oct 2022 21:32:53 GMT contains 3974 apps.

Added (1)

Updated (30)

2022-10-28T21:43:22Z


Thursday, October 27, 2022

Cardano Daily Discussion - October 28, 2022

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.

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 ⚠️


Friday, 28th October 2022

The Daily Spin. Freaky Friday Edition. Even more hacks continue to pile on to this month’s tally, now dubbed “Hacktober”, which has already surpassed every month that has come before it. The Monkey Drainer continues to successfully phish, a total value that has exceeded $1m. SBF’s take on crypto-regulation bricked by the community. US and EU lead BTC’s rally past $21k. FTX records largest liquidation ever to date, and considers launching its own stablecoin. ETH becomes top 50 asset in the world by MCAP. Alexlar and Polygon supernets team up to provide cross-chain interop. Elon acquires Twitter, immeditely sacks CEO and two other executives. Jack Dorsey launches Blue Sky, decentralized Twitter-killer. Moldova bans crypto mining, Kazakhstan launches CBDC on BNB Chain. Meta leads the pack in big tech losses with an over 70% drop in value. Yuck, Zuck.…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. In the name of transparent, information dissemination to keep you curious, inspired, and clinically sane…

Ongoings at Coinweb

Coinweb Fireside Chat Series, “Happy Halloweb3” Oct 27 (Bangkok)
Video/Photos to be posted shortly

“Crypto Isn’t Going Away Anytime Soon, As Regulatory Debate Rumbles” by Toby Gilbert on Valuewalk.com
https://www.valuewalk.com/crypto-isnt-going-away-anytime-soon-as-regulatory-debate-rumbles/

Vietnam Blockchain Summit 2022 (Hanoi)
Toby speaks at “Bridging the Gap Between Speculation and Fundamental Value in Digital Assets” Panel
Video to be released soon

Coinweb Looks Undervalued, Article on LiveTradingNews.com
https://www.livetradingnews.com/coinweb-cweb-looks-undervalued-218893.html

Crypto Expo Thailand, Oct 7 (Bangkok)
Toby Spoke on Cross-Chain Interoperability, more info coming soon.
http://www.thailandcryptoexpo.com

Coinweb’s Monthly Fireside Chat Series: Are You Game? Sep 22 (Bangkok)
https://www.siam2nite.com/en/pictures/coinweb-at-baan-dusit-thani-23369

Latest Video Release: Trade Tokens on Multiple Blockchains Without a Bridge (4mins)
https://youtu.be/ZUajbJDEeB0

Coinweb Set to Establish Business in Saudi, UAE by H1 2023
https://www.khaleejtimes.com/business/coinweb-set-to-establish-presence-in-uae-saudi-in-h1-2023-says-ceo-gilbert

“How Bridges Need to Deliver Blockchain Interoperability” by Toby Gilbert on Medium
https://medium.com/@Coinweb.io/how-bridges-need-to-deliver-blockchain-interoperability-7c910e52a4c7

“One Chain to Rule Them All?” By Toby Gilbert on Medium
https://medium.com/@Coinweb.io/one-chain-to-rule-them-all-a049d1f8d97f

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On the Radar

Web3 & Real Estate Summit, Oct 27-28 (Miami)
BNB Chain Innovation Pitch Day, Oct 30 (San Francisco)
Forward to the Future of Blockchain, Nov 1 (Bangkok)
FOMC Meeting on Interest Rate, Nov1-2 (Washington DC)

Elrond X-Day Conference, Nov 3-5 (Paris)
Staking Summit, Nov 8 (Lisbon)

Token 2049, Nov 9-10 (London)

Bureau of Labor Statistics CPI Index, Nov 10 (Washington DC)
Innovative Finance Expo, Nov 14-16 (Dubai)
DSLA Protocol for Tezos (facilitates onboarding of enterprises to ecosystem), Nov 24

Blockchain Genesis Thailand 2022 - Road to Web3, Nov 26-27 (Bangkok)

Sub0 Polkadot Dev Conference, November 28-29 (Lisbon)

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On the Block (chain)

Bug causes Google to list malicious websites in searches for ‘CoinMarketCap’
https://cryptoslate.com/bug-causes-google-to-list-malicious-websites-in-searches-for-coinmarketcap/

US and EU lead Bitcoin’s price action
https://cryptoslate.com/us-and-eu-lead-bitcoins-price-action/

Google Admits Crypto Winter Is Hurting Ad Business
https://news.bitcoin.com/google-admits-crypto-winter-is-hurting-ad-business/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Aspen Creek Digital and Compass Mining to Host Thousands of Bitcoin Mining Rigs at Texas Solar Farm
https://news.bitcoin.com/aspen-creek-digital-and-compass-mining-to-host-thousands-of-bitcoin-mining-rigs-at-texas-solar-farm/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Baby Ape NFTs Launch Shortly; Lady Apes to Welcome Bundles of Joy
https://cryptoslate.com/press-releases/baby-ape-nfts-launch-shortly-lady-apes-to-welcome-bundles-of-joy/

FTX records largest short liquidation event in its history
https://cryptoslate.com/ftx-records-largest-short-liquidation-event-in-its-history/

DOGE up 18% as Elon Musk moves to take over Twitter
https://cryptoslate.com/doge-up-18-as-elon-musk-moves-to-take-over-twitter/

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Competitive Landscape

Axelar and Polygon Supernets Team Up to Provide Cross-Chain Interoperability
https://www.coindesk.com/tech/2022/10/26/axelar-and-polygon-supernets-team-up-to-provide-cross-chain-interoperability/

Ethereum-Compatible Sidechain Could Be Very Bullish for XRP, According to Coin Bureau – Here’s Why
https://dailyhodl.com/2022/10/26/ethereum-compatible-sidechain-could-be-very-bullish-for-xrp-according-to-coin-bureau-heres-why/

Crypto Payments Firm Bitpay Adds MATIC Support, Panini America to Accept Polygon Payments
https://news.bitcoin.com/crypto-payments-firm-bitpay-adds-matic-support-panini-america-to-accept-polygon-payments/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Jack Dorsey Unveils Bluesky Social, the Decentralized Twitter-Killer.
https://ssaurel.medium.com/jack-dorsey-unveils-bluesky-social-the-decentralized-twitter-killer-cc6eec0c56e5

Blockchain.com Launches Crypto Visa Card With 1% Cashback Crypto Rewards
https://news.bitcoin.com/blockchain-com-launches-crypto-visa-card-with-1-cashback-crypto-rewards/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

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World
Moldova bans crypto mining amid energy crisis
https://cryptoslate.com/moldova-bans-crypto-mining-amid-energy-crisis/

Kazakhstan to launch CBDC on BNB Chain
https://cryptoslate.com/kazakhstan-to-launch-cbdc-on-bnb-chain/

Microsoft And Alphabet's $250 Billion Stock Plunge Fuels Fears Of Earnings Recession
https://www.forbes.com/sites/jonathanponciano/2022/10/26/microsoft-and-alphabets-250-billion-stock-plunge-fuels-fears-of-earnings-recession/?sh=3afa248369ab&utm_medium=browser_notifications&utm_source=pushly&utm_campaign=2453989

Economist Peter Schiff Warns the US Dollar Will Crash — Says 'We're Going to Default'
https://news.bitcoin.com/economist-peter-schiff-warns-the-us-dollar-will-crash-says-were-going-to-default/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

Fed Governor Waller Skeptical of Central Bank Digital Currencies — Says He's 'Not a Big Fan' of the Fed Issuing Digital Dollarhttps://news.bitcoin.com/fed-governor-waller-skeptical-of-central-bank-digital-currencies-says-hes-not-a-big-fan-of-the-fed-issuing-digital-dollar/?utm_source=OneSignalPush&utm_medium=notification&utm_campaign=PushNotifications

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Thought Leadership

Dynamic NFTs, the Next Meta?
https://medium.com/nefture/dynamic-nfts-the-next-meta-d6f2c9ef3cfe

A New World Currency is Shaping, and it Isn’t Bitcoin
https://medium.com/yardcouch-com/a-new-world-currency-is-shaping-and-it-isnt-bitcoin-fd306d0a728

Huge controversy after what Crypto’s richest billionaire (SBF) just said in his take on regulation
https://medium.com/@ignacio.de.gregorio.noblejas/huge-controversy-after-what-cryptos-richest-billionaire-just-said-55e9f4c16190

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https://preview.redd.it/hy84tzbo2hw91.png?width=816&format=png&auto=webp&s=1df6f57fdeb3d5c9b7f33eb56c44085a7e41e18a


Who took the swap?

https://i.redd.it/6r202fnhmgw91.png

HOW DO I LEARN ABOUT BLOCKCHAIN TECHNOLOGY?

First, Binance is interested in education.

If you want to learn about blockchain technology and other trading basics, just go to Binance Academy. There are lots of educational materials to read. Or you can just download it from your app store.

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Second, Binance is the most frequently used exchange all over the world.

The trading volume is so high because it’s the number one exchange.

Everyone knows about it—no more explanation.

I’ve been using it for like a few years. Now Bitcoin spot trading fee is free. It’s kind of like an event. The main reason they are making the fee-free is that the trading volume has recently diminished.

Most people use spot trading or futures trading. But users in restricted areas cannot use futures trading.

The global version of Binance is much bigger than the US version. If you live in a different country that is not the US, you should use the international version.

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Finally, there are lots of events going on for new and existing users.

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Here’s the Binance sign-up link for new users: Binance Register

New users are about to get a 100 USDT trading fee rebate and trading fee discount.

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Existing users who are not signed up for Binance futures are about to get a trading fee discount if they register it.

Here’s the Binance futures sign-up link for new users and existing users: Binance Futures register