This time is different guys
AI, climate change, inflation, Russia, other current events*, it’s happening!
Stockpile Bitcoin, no… AI stonks… no, gold… no, Taiwanese at bonds…
IT’S really happening!
- other current events may vary
Saturday, April 15, 2023
Layers of trustlessness in bitcoin and cryptocurrency explained. Before you begin investing in anything you need to read and understand this...
TL;DR - Only bitcoin is leaderless and trustless. Almost all other coins, including ethereum, have a leader figure in one form or another. Layers of trust come from layers of trust required for the technology to work.
I used to be of the persuasion, "Hey, bitcoin is old technology. It doesn't work as intended. Try this coin instead. It works." But then I saw the market didn't want anything besides bitcoin and a few other alts in the top 10. So I just called myself a, "Maximalist of useful protocols."
Well, after the USDC depegging event, this is where I backed off of even saying a "maximalist of useful protocols." When SVB collapsed, the creators of USDC - circle, did absolutely nothing wrong, but it depegged, briefly, dropping to 80 cents per USDC. There's 3 layers of trust to USDC, arguably 4:
1. You need to trust the Eth blockchain blockchain and hope it doesn't get corrupted as well as the EVM.
2. You need to trust the team at Circle. See footnote below.
3. You need to trust all of the banks that Circle uses to peg USD to USDC.
4. You have to trust the ETH dev team.
5. Do you need to trust the "leader" of ethereum, Vitalik Buterin?
With bitcoin, what are you trusting in? Assuming you store you private keys / mnemonic correctly, you are trusting in only two things, really:
1. Trusting in the protocol not to get exploited / 51% attacked.
2. Trusting in the volatility / world economy not getting in serious trouble.
These are just my own thoughts... After everything I've seen this past year, I'd rather be paid in bitcoin than any stablecoin I've seen. That's just me.
Friday, April 14, 2023
Cardano Daily Discussion - April 15, 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.
See this post for more examples of what they look like
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 ⚠️
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
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Bet Responsible: Ages 21+
Hiro's Weekly Community Updates: March Release Roundup, Web3 Governance Models, Bitcoin Surpasses 1M Ordinals Inscriptions and more!
Happy Friday to all those building on Bitcoin! Here’s a roundup of all the latest announcements, tutorials, and events to keep on your radar. Some of our latest posts include:
- March 2023 Release Roundup - We launched the Hiro platform, added Ordinals support in the Hiro wallet, and released developer tooling with the Ordinals API and Ordinals Explorer. Check out the latest updates here.
- Web3 Governance Models: An Intro to the Decision-Making Process in Web3 Projects - Who should make decisions about Web3 project, and how can they be decentralized and equitable? Check out our recent blog to learn more.
- Bitcoin Surpasses 1M Ordinals Inscriptions - CEO Alex Miller shares his thoughts on their staying power in his recent commentary in Defiant News. Read here.
- Building on Bitcoin @ Bitcoin Unleashed with Alex Miller - Join us at Building on Bitcoin, where our very own CEO Alex Miller will be speaking about the latest innovations in Bitcoin, NFTs, and Ordinals on April 19th!
Looking to enter the world of blockchain? Hiro is hiring! Check out some of our open positions here.
Stay tuned here and on our Twitter for more updates and announcements.
Minto Monthly Report: Mar’23
March is the first month of spring, and Bitcoin was spring-like bouncy in the range of $20-30k. A 50% growth in 20 days is not bad!
Well, things are running their course…
📈 Numbers
Hypothetical results with 100% uptime:
Mined: 6.1757 BTC (150 256 USD)
Electricity cost: 165 219 USD
Net profit: -14 963 USD
Actual results with 65% uptime:
Mined: 3.5672 BTC (86 152 USD)
Electricity cost: 59 941 USD
Net profit: 26 211 USD
Despite Bitcoin’s growth, the concomitant increase in its network difficulty is still preventing Minto from mining full force. When the difficulty increases, miners earn less, so we are still using a smart algorithm of 65% mining hardware uptime, having earned over $26k net in March against potential losses of about $15k.
Nevertheless, we are constantly keeping our finger on the pulse and are ready to switch to 100% as soon as we are sure that it won’t lead to negative financial results.
⚙️ Updates
Life at Minto is also full of other events, because our work literally never stops. On March 1, we launched the long-awaited referral program. Now everyone can share our referral link with their colleagues and loved ones, get referral rewards from any purchase of BTCMT tokens and even split these rewards with each other!
Also, have you heard that Minto is now on Instagram and Tik Tok? Join us!
⛏ Events
As always, we believe that the future looks optimistic and that interesting times are coming, not least because BTC halving is still ahead, and if we look at things more broadly, global changes in the world economy are underway… Hold on to your hats!
Stay with Minto, and you won’t be afraid of any changes!
What is the Reason for the Growth of Crypto Today?
Bitcoin, Ethereum, and dogecoin among other cryptos are the What is the Reason for the Growth of Crypto Today and know the important stocks that can be profitable for investors.
Reason for the Growth of Crypto Today?
Bitcoin surges ahead by 101% growth right now. US equities rally on weak inflation readings as bitcoin gains as ether breaches US$2,000.
The top 10 non-stablecoin cryptocurrencies are showing a strong gain in a surprise move in the crypto market, with bitcoin rising higher into the US$30,000 band in early morning trade in Asia on Friday.
Related: Top 5 To Watch in the Next Crypto Bull Run
Yesterday Total Crypto Market Cap (TOTALCAP) broke through an important horizontal resistance area and Bitcoin (BTC) broke through an ascending resistance line.
Bitcoin also re-recorded a new record in its history as it rose above the key psychological level of $30,000 for the first time since June 2022. Investors and analysts are not aware of this event. Nor were such predictions made.
Read More: Click Here
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