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Wednesday, November 9, 2022
Tuesday, November 8, 2022
Carbon Opportunity Fund presentation at COP27 on November 17th
I am stoked about the upcoming Carbon Opportunity Fund event on the 17th. Watch Live November 14th 16:00 EET (Eastern European Time) 9am Eastern US time, and 6am Pacific Time. I expect they will be discussion their plan and hopefully moving forward with this project.
The goal of the COF is to catalyze investments in the voluntary carbon markets and broaden access to finance for nature-based projects certified by leading international standards bodies. To do so, they are creating a CAT for trading carbon credits. Presumably, a business that utilizes this CAT to offset their emissions will need to burn the token for the credit to really count. The demand for these credits will hopefully be able to fund these nature-based projects on an ongoing basis. Much like mining crypto; as the price of the credits increase, there will be increasing market pressure to expand the nature projects. As the world moves to counter climate change, there will be more interest in the carbon credits and this will hopefully work to counteract the 40% of emissions that they claim as a goal. And chia uses less than 0.2% the energy of bitcoin.
Will this have much impact on the chia network? This is the big question, and may be a very big test of the network. This needs to be a smooth process for the people who are creating and using these credits. Will they be using XCH for purchasing the credits? Are these going to be traded as offers on chain, or will they just be arranged and paid for in fiat offline? What kind of volume will this create on chain?
Assuming this creates a notable increase in volume, we should see the decrease of dust storms as transactions require fees. Of course, this will mean the network will start pumping transactions through at max capacity. Most likely, this will be a small blip in the transactions per day. Here's hoping that it goes smoothly and helps fund some reforestation, restoration of the wetlands, and general environmental improvements.
[Task] Capture Networking event through Python Twisted Proxy $50
Task When you load /r/Slavelabour & open the networking tab on your browser, you will find that reddit calls an API endpoint manifest.json.
I would point my browser to the new instance of twisted proxy (probably localhost:8080) and data would then flow through Python. The goal of this task is to create a Twisted proxy server that listens for when the URL https://reddit.com/* calls manifest.json & prints the response body to screen when it is found.
Payment
- I can pay through PayPal upon delivery. No bitcoin. No prepayment.
Timeline
- I need a working version in the next 12 hours. It is currently 6:00 PM EST. Only bid if you are able to work on this now.
Notes
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There are a few tutorials on how to do this. I did not try them, but this might be easy. I don't know & can't help you.
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Yes I know that Reddit has an API. No, there isn't anything valuable in manifest.json. I just need a working example of twisted proxy that captures networking events.
Bitcoin Records Fresh Bear Market Low At $17,500, Was This The Bottom?
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The crypto market is trading in the red, with Bitcoin and other cryptocurrencies recording double-digit losses over today’s trading session. The number one cryptocurrency retraces its profits from last week and fallback into a new yearly low.
At the time of writing, Bitcoin (BTC) trades at $18,200, with a 13% loss in the last 24 hours and an 11% loss in the previous seven days. Other cryptocurrencies in the crypto top 10 by market cap are following a similar trajectory, with Dogecoin (DOGE) showing the highest losses over this period.
BTC’s price is trending to the downside. Source: BTCUSDT Tradingview
Bitcoin Crashes Amid FTX “Lehman Moment”
The crypto market is reacting to the events related to FTX and Binance. Dubbed the “Crypto Exchange Wars,” Binance emerged victorious when FTX confirmed a deal to surrender its assets, except for FTX.US.
The Sam Bankman-Fried led platform could not redeem its users’ new request for withdrawal. According to reports, the venue was missing as much as $6 billion and was forced to halt its operations.
Amid this uncertainty, the crypto market and Bitcoin faced immense selling pressure. Rumors have surfaced about Alameda, FTX’s trading arm, possibly liquidating its BTC to cover some of its losses, but the team behind the platform has no official statement.
There is speculation about the current state of the market, which has been reflected in Bitcoin and other cryptocurrencies. In addition, the U.S. Midterm election is adding more uncertainty into the mix.
NewsBTC reported yesterday that a Republican win could be bullish for crypto and digital assets. This party has been more prone to support the industry and crypto projects when compared to the Democratic party.
BitMEX Founder Arthur Hayes published his perception of the future of Bitcoin and the crypto industry. Hayes seems bearish as he announced the acquisition of puts (sell) option contracts for Bitcoin.
These contracts have a strike price of $15,000, meaning they can exercise if BTC’s price records another fresh low and crashes into $15,000 to $14,000 or much lower. The BitMEX Founder wrote:
FTX = Lehman
That wasn’t the bottom. $SPX hit 666 in March of 2009.
Therefore $17,500 BTC is at risk.
How ‘bout dem puts now…
— Arthur Hayes (@CryptoHayes) November 8, 2022
However, the crypto market has withstood massive stress and several capitulation events. A Lehman moment in the industry might signal a bottom, not more downside. In addition, Hayes has publicly stated its bullish stand on the crypto market.
For more insights into today’s price action, check out the video below:
What Is The Possibility Of Cardano Touching $0.50 Mark? Let’s Explore
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The crypto market has halted its brief bullish rally, with prices generally dropping; for example, Cardano (ADA) has lost 9% in the last 24 hours. Currently, Cardano is trading at $0.366.
Cardano price falls on the chart l ADAUSDT On Tradingview.comIn recent weeks there has been an upsurge in most cryptocurrency prices due to the recent rally of bitcoin. However, experts believe the crypto winter is still on but nearing its closing phases.
The general slump in the big crypto players like bitcoin has hindered ADA’s full potential. Nevertheless, the Proof-of-Stake mechanism remains a standout feature of Cardano.
Cardano’s wide range of applications for smart contracts and DApps will likely see more platforms adopting the token.
Developmental Plans unveiled
However, Cardano’s developmental plans were intensive on November 2, 2022. Input Output HK (IOHK) released vital information on the Daedalus mainnet 5.1.1 release. This information created positive reactions from the crypto community,
Daedalus is a cryptocurrency wallet that only supports ADA tokens and is highly secured. In addition, the wallet enables users to stake their tokens and earn rewards. The launch of this wallet has been widely anticipated in the crypto community as it offers users an extra layer of security.
However, this development had no significant impact on the pricing. Similar reactions were noted with the Cardano Vasil upgrade, as it did not significantly impact the token’s price.
Will Cardano Reach The $0.50 Mark?
Despite the recent brief rally in the cryptocurrency market, it will be difficult for Cardano to reach the $50 mark. The project reached its all-time high of $3.10 0n September 7, 2021, and is yet to surpass the price level.
From the Donchain channel, the candles are seen in the upper channel signaling a potential price rise in the short term. The 0.5 level is more realistic for ADA to attain.
The MacD also observed above its signal line shows bullish sentiments. It must be noted, however, that the two lines are almost in contact. This indicates that the bull run might likely be short-lived with no significant price corrections.
Cardano will likely surpass the critical resistance level of $ 0.58. If such an event occurs, it will likely trigger a bullish run for the cryptocurrency token.
However, if Cardano falls below the critical support level of $0.33, the coin might likely go into freefall as market forces act on the price. Although ADA has shown positive price movement in recent weeks, the $50 level is some way off for the token, with critical Support and resistance levels still untested.
Cardano might likely fluctuate from the price movement between the $0.4 and 0.5 price level this month. While ADA may not get up to the $50 mark, it is still a cryptocurrency worth investing in for the future.
Featured Image from Pixabay | Charts by TradingView
FTX Megathread
This megathread will be used to discuss all news and events around ongoing FTX story.
Currently the latest news articles on the topic are:
Cryptocurrencies slide as concerns over FTX exchange rattle markets: https://www.reuters.com/markets/currencies/cryptocurrencies-slide-concerns-over-ftx-exchange-rattle-markets-2022-11-08/
FTX Token Plummets as Market Fears Possible Alameda Contagion: https://www.coindesk.com/markets/2022/11/08/ftt-plummets-as-market-fears-possible-alameda-contagion/
Bitcoin slumps ahead of midterms, and FTX addresses slow withdrawals: CNBC Crypto World: https://www.cnbc.com/video/2022/11/07/bitcoin-slumps-midterms-ftx-slow-withdrawals-cnbc-crypto-world.html
As per comments in daily thread, some users are reporting delayS in withdrawals.
As per FTX latest tweet,
https://twitter.com/FTX_Official/status/1589790870290993152
queue is decreasing and getting back to more reasonable levels; nodes and banks catching up
Please use this thread to discuss all events around this ongoing story. Please do not create new threads on this , they will be removed.
VeChain (VET) Climbs 10% In Last 7 Days – What’s Going On?
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The VeChain (VET) price has been able to build on its bullish momentum over the past week and is currently bucking the current market trend.
As Bitcoinist reported, the entire crypto market is currently facing a major fear of a contagion effect triggered by the perceived troubles of the US exchange FTX.
Within the top 100 by market cap, there are currently only a handful of altcoins besides VeChain, including Chainlink (LINK) and Toncoin (TON), that are showing price gains within the last 24 hours despite the turmoil. VET is thus showing its fundamental strength for the moment.
Within the last 24 hours, the price has risen by around 3%. Over the last seven days, there is even a gain of 10%. At the time of writing, VET was trading at $0.02610.
Over the last 24 hours, VET’s trading volume was $274 million, up 228% from the previous day. At the current level, the VeChain price is facing major resistance. For the moment, VET was rejected at the 200-day simple moving average (SMA) in the 1-day-chart, while maintaining its stance above the 100-day SMA.
The MACD indicator is also showing bullish signs. The MACD (Moving Average Convergence/Divergence) is a momentum indicator that shows the relationship between two moving averages of the price of a security. VET investors should therefore keep an eye on the indicator for any trend changes.
The RSI is neutral. The next big levels for VET are residing at the $0.035 and $0.043 mark.
VeChain (VET) showing strength amid market turmoil in the 1-day-chart. Source: TradingView
What Is Fueling the VeChain (VET) Rally?
In addition to numerous partnerships that have been made public in recent weeks, VeChain is looking ahead to an extremely important event. The announcement for this took place yesterday.
The VeChain Foundation said the final phase of Proof of Authority 2.0 (POA2.0), the integration of finality with VIP-220, with block height 13,815,000, is expected to go live on Nov. 17, 8:10 a.m. UTC+0.
Key advances will include resolving the trade-off between the Nakamoto and Byzantine fault tolerance consensus, significant security improvements, data quality guarantees with finality, and enabling global sustainability goals, according to the VeChain Foundation.
This release enables the hard fork called Finality on the mainnet. It implements the VIP-220 finality with one bit (FOB), which allows nodes to check the finality of blocks.
Via Twitter, the foundation stated:
With this implementation, #VeChain takes a big leap towards our goal of facilitating global #MassAdoption of our #blockchain technologies, our objectives to become the de-facto platform for #Sustainability & spearhead economic #DigitalTransformation.
For VET holders, the hard fork on November 17 will basically be without impact. However, exchanges may temporarily suspend trade, deposits and withdrawals around the date and time of the upgrade.
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