What does pegging mean in crypto?

You already know what stablecoins are, and it’s likely that you use USDT or another stablecoin on a regular basis.

However, stablecoins are not necessarily “pegged” only to the United States dollar but also to other real assets—e.g., the euro, other currencies, stocks, and even gold.

#bitcoin #pegging

What is a testnet?

You may have come across the terms “mainnet” and “testnet” in the blockchain world. So, let’s break it down.

A mainnet is a “live,” basic version of a blockchain. For example, if you go to the OpenSea marketplace right now and buy NFTs, you will have interacted with the mainnet of the Ethereum network.

On a testnet, there is also cryptocurrency, which is largely similar the real one: It can be stored in a wallet, received, and sent. The difference is that testnet coins have no value. It’s like money from Monopoly: If you accidentally lose it, nothing bad will happen.

In general, on a testnet, developers test and polish their ideas, whereas on a mainnet, they present them to all users.

#Worldcoin #testnet #googleai #BinanceTournament

What is the meaning of Doxxed?

In the cryptocurrency world, the term “fully doxxed” means that a person’s identity in the real world has been revealed publicly, either through a leak of personal information or intentional distribution. Depending on the individual or project, this issue is a point of contention, as many people use cryptocurrencies to remain anonymous.

The term “doxxed” comes from the word “docs,” which is short for “documents.”

However, sometimes, doxxed can also be used positively—e.g., when discussing the founders of an NFT collection. If the founders of an NFT project are doxxed, it’s a good thing because it means that anyone can get to know their story and background, which adds to the transparency of the NFT collection.

#googleai #Worldcoin #BinanceTournament

What is Red flag meaning in Crypto ?

A “red flag” is an alarm or ominous sign indicating a problem with a crypto project.

For example, you’re researching an NFT collection and see that its funders are new to the NFT world and aren’t known in the community. That’s a red flag.

Or, say, the collection’s website is unkempt with grammatical errors—indeed, that’s another red flag.

#googleai #Worldcoin #BinanceTournament

GPU vs. CPU mining

This post is a general overview of GPU and CPU mining.

It’s simple: These are two types of mining that use different parts of the computer.

CPU mining is when you use the computer’s processor (the computer’s brain) for the task. Processors are good at various tasks but not as good at the large and complex calculations that mining requires.

GPU mining is when you use the graphics card (the visual brain of the computer) for mining. GPUs are built for fast and complex calculations (mostly for gaming), which makes them more efficient for mining.

As a result, GPU mining usually generates more revenue, but the hardware is also more expensive.

Did you think it was impossible to mine on a CPU? Well, yes, you can! (although not very efficiently).

#BRC20 #bitcoin #GPU #CPU

What is the meaning of Gem?

In crypto, a “gem” is a little-known token with a low market capitalization and great potential for price growth.

However, finding a gem is difficult. Not everything that has a small market capitalization is a profitable investment. More often than not, the market cap is small and the token is cheap simply because no one wants it!

But a real crypto gem can shoot up and grow in value by 10x or more.

Everyone wants to find a gem in the ocean of crypto, but few of them succeed)

#bitcoin #gem

Whales, crabs, and shrimps

Every crypto enthusiast knows who the whales are in the crypto sea, but most likely, you don’t know the full list of its inhabitants =)

In the community, there is a specific classification of holders by the number of their coins.

They are:

Humpbacks — holders with over 5,000 BTC
Whales — over 1,000 BTC (or altcoin owners with a portfolio of at least $10 million)
Sharks — from 500 to 1,000 BTC
Dolphins — from 100 to 500 BTC
Fish — from 50 to 100 BTC
Octopi — from 10 to 50 BTC
Crabs — from 1 to 10 BTC
Shrimp — less than 1 BTC.

There are also “planktons”: BTC addresses with a balance of less than 0.01 BTC.

Most Crypto Twitter users only discuss whale activity, but knowing these classifications can help you flex your crypto knowledge.

#bitcoin #BRC20 #BNBChain⚡️

Definition of Bitcoin Ordinals

Bitcoin Ordinals are the fundamental units of Bitcoin, satoshis or sats, which have been minted and integrated with a unique piece of information. As a result, the satoshis can become unique and have the same identity as a basic non-fungible token.

#bitcoin #crypto2023 #googleai #BRC20 #pepe

Bitcoin’s correlation with the tech-heavy Nasdaq 100 collapsed to just 3% in June, hitting its lowest level in nearly three years.

Bitcoin outperformed tech equities this month jumping by nearly 14% while the Nasadq 100 is up only 3%.  Overall, its correlation with traditional risk assets has steadily weakened this year from an average of 60% in 2022.

#bitcoin #crypto2023

Bitcoin illiquid supply reached a new ATH of 15.2M BTC this week, whilst exchange balances have fallen to the lowest levels since Jan 2018 at 2.3M BTC.

#bitcoin #Ethereum #BNB

• Bitcoin $31000 🔥

#bitcoin

Trading bots and “multipliers”

Often, various persons offer to buy “trading robots” or bots that “know how to bring a stable profit” of 100%–500% per month.

Also, some projects offer to send a random amount of crypto to a certain address (for example, 10 USDT) with the promise to “multiply” it by several times — e.g., to return as much as 100 USDT instead of 10 USDT.

There are trading bots, but they are used for specific tasks: large investment funds, market makers, and trading companies. The prices of such bots are measured in millions. They are not universal, and no one exactly sells them in the public domain.

Therefore, never trust promises of quick and easy profits.

$BTC $ETH $BNB

#bitcoin #tradingstrategy #BNB

⚡️🇭🇰 Hong Kong govt pressures banking giants to accept crypto clients

The Hong Kong Monetary Authority (HKMA), which serves as the region's central bank and regulator, has reportedly put pressure on major banks including HSBC and Standard Chartered to accept crypto exchanges as clients.

$BTC $ETH $BNB

#SEC #Binance #bitcoin #BNB #crypto2023

Security in Crypto

Another helpful tip: Be careful when using public WiFi networks or computers, as they may be vulnerable to hacker attacks.

If you are in a cafe and decide to make several crypto transactions, your personal information could be compromised. Through public WiFi networks, attackers can easily steal your data, including passwords, bank details, and personal information.

Sometimes, they launch their own access points to the free internet for these purposes.

Therefore, only conduct your crypto transactions exclusively through reliable internet service providers.

$BTC $ETH $BNB

#bitcoin #security

What is "IYKYK" means in Crypto?

Yes, it’s a rather complicated abbreviation. “IYKYK” is short for “if you know, you know.” The expression indicates that insiders know something valuable, but it’s used quite widely: either when a person has valuable information about a project or something similar or with irony if a person shares well-known information.

Example:

We see the tweet, “A new updated WhiteList for DeFi project XYZ has been released. IYKYK.”

This means that people who know what a WhiteList is in DeFi and what the XYZ project is will understand the importance of this news. However, those unfamiliar with these terms or the project will probably not understand what this is about.

#bitcoin #BNB #IYKYK

What will happen in Crypto winter?

During “crypto winter,” ❄️ the markets go cold, so to speak, for an extended period: Prices drop, and investors shy away from funding projects. Naturally, when prices take a tumble, panic ensues among investors. When these sudden drops in value pin the market with downward pressure, it can last months—even years—testing the patience of even the most seasoned traders and investors.

However, the good news is that the crypto markets also follow similar patterns to the four seasons we experience climate-wise. If we’re in a crypto winter at the moment, it’s only a matter of time before things start heating up again.

#bitcoin #crypto2023 #cryptowinter

What is "Funds are safu" Means?

“Funds are safu” is a popular crypto meme symbolizing the safety of funds in any project. The expression supposedly originated thanks to the Binance Secure Asset Fund for Users (SAFU), which insures traders.

In the midst of a crypto crisis, if you hold reliable assets, you can safely write “funds are safu!”

And it’s also a playful reference to the Asian pronunciation of the word safe.

#bitcoin #BNB #safu

Are crypto transactions anonymous?

Crypto transactions on blockchains are “pseudonymous,” meaning they can be traced to wallet addresses (via public keys) but have no direct connection with people’s identities.

Every transaction is open to the public, and anyone with an internet connection can view them. The date, the amount sent and received, the wallet addresses — all of this data is impossible to conceal.

However, if you use a non-custodial wallet, it will be impossible to identify you as the wallet’s owner (unless you deanonymize yourself).

Therefore, if you practice the basics, you can be completely anonymous on the blockchain, and no one will ever know your personal information.

#bitcoin #crypto #BNB

What is "Looks rare" means in Crypto

“Looks rare” is an ironic way of saying that your NFT may be valuable (without actually knowing it).

Since the value of most NFTs is determined by their rarity, the one that looks rare and is rare could bring you profit.

Therefore, you can go to social networks and brag about your NFT with the comment “looks rare,” hoping it is true.

By the way, a competitor of the most popular NFT marketplace, OpenSea, called Looks Rare, used this meme to launch its token.

#bitcoin #nfts