In the world of cryptocurrency, NFTs have become a hot topic among investors and collectors. However, a recent post on the popular subreddit r/CryptoCurrency has sparked controversy regarding the value of NFT collections. The post, made by user DeeperBags, claims to have created an NFT collection in just 45 minutes to prove that NFTs are “stupid.”

DeeperBags built the NFT collection, which he called “Moon Dude,” using a combination of drawing, coding, and generating inputs. The collection features various moon works, but the author claims that no one will ever get the moon in this collection because the NFT is “too stupid.” He also pointed out that the method he used to create the collection could be used to generate up to 99,000,000 NFTs in just four weeks.

While the post was intended to prove that NFTs may not be as valuable as some believe, it has sparked a heated debate among Redditors. Some have praised DeeperBags for his creative approach to proving his point, while others have argued that NFTs are not just simple images, but a type of token with real value. “If you think the image is the NFT then you’re an ...”, a Redditor said.

The controversy surrounding NFTs has been ongoing, with many investors and collectors spending large sums of money to acquire these digital assets. Some have even compared the NFT craze to the Tulip Mania of the 17th century, where the value of tulip bulbs skyrocketed before ultimately crashing.

Despite the controversy, NFTs continue to be a popular investment option for many, with some collections selling for millions of dollars. While DeeperBags’ Moon Dude collection may not have any real value, it has certainly sparked an interesting debate about the true worth of NFTs in the digital age.

#nftcommunity #NFT #Reddit #crypto2023 #azcoinnews

This article was republished from azcoinnews.com

Reddit, the popular social media platform known for its diverse forums and community-driven content, has made headlines with its recent decision to invest in cryptocurrencies, specifically Bitcoin $BTC and Ethereum $ETH , as revealed in its S-1 filing. The company has not only invested some of its excess cash reserves in these leading digital currencies but also experimented with blockchain technology as part of its broader strategy to innovate and stay ahead in the digital space. This move comes at a time when Reddit is preparing for its initial public offering (IPO), aiming to offer a unique opportunity for its user base to participate directly in the company's future growth.Reddit's IPO and user participationReddit has announced plans to allow its most active users, including some moderators, the chance to purchase shares directly. This strategy, while potentially increasing the market price volatility of its Class A common stock, shows the company's commitment to its community-driven ethos. The approach also highlights the platform's innovative spirit, reminiscent of the meme stock craze of 2021 led by its WallStreetBets chat room, which saw users rally around stocks like GameStop and AMC Entertainment. However, the company cautions that this could lead to increased risk for other investors due to potential market fluctuations.Reddit's blockchain experimentationReddit's foray into blockchain and cryptocurrency is not without its challenges. Prior to its IPO filing, the company had experimented with blockchain-based Community Points, rewarding contributors with tokens on the Ethereum and later Algorand chains.Despite the vibrancy of its cryptocurrency-focused communities, Reddit decided to discontinue the Community Points system in October, ahead of its public listing. This decision was influenced by a changing regulatory landscape and the complexities involved in managing a blockchain-based rewards system.Despite stepping back from its Community Points program, Reddit's investment in Bitcoin and Ethereum signals a strategic bet on the future of digital currencies. By holding cryptocurrencies and experimenting with blockchain, Reddit is positioning itself at the intersection of social media and the emerging digital economy.#Write2Earn #Reddit #BTC‬ #ETH

Sharing my struggles and some tips on Binance as a Woman of God.

I am not sure if everyone has these struggles when they first open the account, but I have gone from having my money lost on the blockchain to not being able to purchase. After trying over 12 times I stopped trying. This is even though I whitelisted my card. I had to use another platform to transfer to Binance. I have had emails about people trying to access my account, changing my passwords, down to not finding my money when I try to withdraw (I have been trying to withdraw about 10 USDT for days). I also got a Mystery box over 1 year ago which I am unable to find. I also noticed that when you do a trade they block you from seling when you want to and when it decreases they allow you to withdraw. By that time you lose what you made.

The balance is just not showing as available, even though I can see more than that on my account. When I try to contact Binance the emails always bounce. I withdrew 20 Bitcoins, then 27 Bitcoins from my other account and sent to Binance from last year July (2023). I am unable to access my account after the withdrawal. After searching for it for over a year, I prayed and God told me to look at the devices that accessed my account. I checked and saw a new IP address on the day I transferred the funds. The person accessed my account three times from three different locations.

God then told me that it was my ex and he placed the money into another wallet on Binance. When I did an IP lookup I saw where my account was accessed from. It was indeed him. I have still not recovered my funds but My God told me its there so I know it is. I am sharing this with others who have gone through it. This man sleeps and astral projects into different bodies to steal. He has been projecting into different bodies to scam, but God says there are two in every family. The ghosts are not ghosts, they are people sleeping and they steal Cryptocurrencies too. They lock us out of our accounts and the attached emails and steal our monies. Binance is not the culprit. I have been on social networks and saw people blasting Binance and other platforms when its their enemies stealing from them. They sleep and astral project into your bodies to send your funds elsewhere. Now is not the time to be scared but to be aware. Spiritual warfare affects everyone and we need God more than ever.
Some of the ways in which you can prevent these unauthorized access are:
Get an authenticator app and let it suggest and store your passwords.f you dont feel like yourself drink some water before you trade. I bless mine first.Regularly check the devices and IP addresses that have accessed your account in security.Pray
This is real and it is happening whether we believe it or not. I lived with one and it is now my ministry.
#UNI #Portal #Reddit #BTC #TrendingTopic

Post By: CryptosHeadlines.com

The company’s plan to terminate the Community Points program in November 2023. The decision is driven by the program’s resource-intensive demands and the challenges posed by complex regulations. Cryptocurrency Devaluation
The Community Points program on Reddit used to reward users with special tokens like MOON, BRICK, and DONUT, which were based on Ethereum’s ERC-20 standard. However, after Reddit’s announcement, the value of these tokens plummeted significantly. MOON tokens dropped by more than 85%, BRICKS by more than 50%, and DONUT by nearly 48%. This sharp decrease in value led to significant losses for investors and raised concerns of a potential issue.
Rug Pull Explained: A “rug pull” is a dishonest practice in the cryptocurrency world. It occurs when developers abruptly abandon their cryptocurrency projects, causing the value of related cryptocurrencies to crash suddenly. This situation was brought to attention by blockchain security expert Jameson Lopp, who mentioned a Reddit user that suffered substantial financial losses due to this downturn.
Challenges for Social Media Platforms: Reddit’s decision to end the Community Points program highlights the difficulties that social media platforms encounter when managing cryptocurrency reward systems. These challenges are amplified by the complex regulatory environment surrounding cryptocurrencies. As we approach the November deadline, it’s important for users and investors to closely follow developments related to this situation.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Blockchain #CryptoMarket #Bitcoin #CryptoNews #Reddit