Welcome to Crypto Corner, the video podcast and blog that brings you all the latest news, market updates, price analysis, deep dives into the best crypto projects and much more. I’m OJ - crypto investor and analyst since 2016 and today we’re talking about Chainlink and its token $LINK, to determine if this is a project that is worth your attention and more importantly, your money.

Let’s start with a brief intro into what Chainlink is. You see, blockchains have one major limitation – they are unable to access data from external systems. This is by design, like a computer without an internet connection, they maintain their isolation to guarantee security and streamline efficiency.

This is the problem that Chainlink was invented to solve.

Chainlink is a “decentralized oracle network” that allows blockchains to connect to real-world data (I’ll explain this in a second) - this means, that it acts as a tool to enable interoperability between various blockchains in regards to handling data.

But what is an oracle?

The vast majority of potential use cases for Web3 require a connection to the outside world. Exchanges need accurate price information, insurance needs data to make decisions on policy payouts, and many apps require market information to determine settlements.

The solution to this problem is known as an oracle, a separate piece of infrastructure that bridges a blockchain to real-world data. Oracles can source a variety of information including prices, weather, sports scores, election results, geodata, random numbers, and so on.

Chainlink is adopted by leading data providers such as: Coingecko, Binance, Huobi, CryptoCompare, Galaxy and many more. But Chainlink is not just digital data provider. It acts as an intermediary, linking non-blockchain businesses with blockchain networks. It facilitates the integration of smart contracts with real-world data. This is why we refer to it as an oracle network. It plays a crucial role in many decentralized finance (DeFi) protocols and services that rely on external information. It is indeed a backbone for many DeFi Protocols.

How does Chainlink work?

As any decentralized blockchain, Chainlink is a network of nodes. These are the workers that carry out the requested jobs execution. There can be any number of nodes attached to the blockchain network. Chainlink nodes with registered Job specifications can carry out Jobs execution coordinated by the on-chain Oracle contract(s), which use $LINK tokens as an incentive for the Chainlink node operators to serve clients via the Chainlink smart contracts.

Because Chainlink is designed to integrate real-world data into smart contracts, it is called a hybrid cryptocurrency and decentralized network that facilitates the integration of non-blockchain businesses with blockchain networks. Some of the reasons that make Chainlink appealing to investors are:

Established position and track record: Chainlink has an established position in the market and a track record of delivering accurate and secure data, making it a compelling choice for businesses leveraging blockchain technology. It has already secured multiple billions of dollars across top decentralized finance (DeFi) protocols, showcasing its reliability and trustworthiness. Its established position in the market and successful track record further contribute to its reputation for security and reliability. It was launched in 2017 by Sergey Nazarov and Steve Ellis and has a strong developer team and over 400 employees listed on LinkedIn.

Backbone of DeFi protocols: Chainlink plays a crucial role in many decentralized finance (DeFi) protocols and services that rely on external information.

Potential for growth: Decentralized oracle networks are only going to get bigger, and Chainlink has been trading at a massive discount so far this year, with my personal projection being that it is bound to grow by at least 100% over the next year.

Leading data oracle: Chainlink network is the leading data oracle providing an essential service to rapidly growing smart contract platforms. Within the broader crypto market, the Chainlink project is one of the least risky bets.

Secure: Chainlink utilizes a decentralized network of nodes, known as oracles, to gather data from various sources. This distributed approach reduces the risk of a single point of failure and enhances the security of the data being provided to smart contracts. The use of secure oracles ensures that the data is tamper-resistant and reliable. In addition to that, according to Token Metrics Chainlink has a Hack Cases Score of 100, which suggests a robust security posture and a low risk of being compromised.

Reliable: Chainlink's decentralized data feeds enable smart contracts to access real-time, accurate, and reliable information from various providers. The network has access to over 1 billion data points and manages over $75 billion in value through integrations with 1,000 projects across 700 oracle networks. This extensive network and integration demonstrate the reliability of Chainlink in providing data to smart contracts.

Blockchain Agnostic: Chainlink is a blockchain agnostic oracle network, meaning it can connect to any blockchain. This versatility allows it to provide secure and reliable data to smart contracts across different blockchain networks, enhancing its compatibility and usefulness.

Strong fundamentals: Chainlink has one of the best fundamentals in the whole crypto market. It is led by a reputable and ingenious team led by Sergey Nazarov, it has a clear roadmap with realistic goals, and delivers a seamless way to connect or integrate any blockchain via APIs. Token Metrics, the data aggregator and analytics website is ranking Chainlink very high, with excellent fundamentals, technology score of 90% - this is really high indeed, and these metrics matter for investors, because if you’re parking your money into an asset for longer than a few weeks, in other words, not as a speculative trade, but rather, an investment that could be medium-to-long term, you want to pick an asset with strong fundamentals. And Chainlink has that. So far so good.

Now, let’s look at the potential vulnerabilities of decentralized oracle networks and how does Chainlink address them?

Centralization: Decentralized oracle networks can be vulnerable to centralization if the oracle nodes are controlled by a single entity. This can lead to a single point of failure and increase the risk of data tampering. Chainlink addresses this issue by using a decentralized network of nodes that provide data and information from off-blockchain sources to on-blockchain smart contracts via oracles.

Data Tampering: Decentralized oracle networks can be vulnerable to data tampering if the data sources are not reliable or secure. Chainlink addresses this issue by using secure oracles that ensure the data is tamper-resistant and reliable.

Downtime: Decentralized oracle networks can be vulnerable to downtime if the oracle nodes are not available or are not functioning properly. Chainlink addresses this issue by using a decentralized network of nodes that provide data and information from off-blockchain sources to on-blockchain smart contracts via oracles. This distributed approach reduces the risk of a single point of failure and enhances the reliability of the data being provided to smart contracts.

Customization: Chainlink is an open-source framework that allows developers to customize the degree of decentralization and risk management they want for their oracle networks. This customization feature enables developers to tailor the security and reliability of their oracle networks to their specific needs.

In terms of use cases, Chainlink has many. It is in fact, the most used data oracle out there and plays a crucial role in many decentralized finance (DeFi) protocols and services that rely on external information. It goes beyond DeFi too, serving also NFTs and Gaming, Social Impact, Climate Markets, Enterprise and more. Let’s look more in-depth at some of these.

DEFI: Chainlink provides real-time prices for a variety #DeFi uses including:

• DEXes • Stablecoins • Derivatives • Insurance • Yield Farming

Notable partners include: Synthetix, Aave, Lido Finance, Breeder Dodo, Liquity Protocol and Trader Joe.

The Chainlink protocol provides enterprise-grade infrastructure to allow large corporations to access the Web3 ecosystem. Notable enterprise partners include T-Systems, Lexis Nexis, Swisscom and Accuweather - one of the most reliable weather forecast protocols out there. I use it all the time.

I mentioned NFTs & Gaming too.

Chainlink provides services for several big players in the NFT & P2E gaming space including Axie Infinity, BoredApeYC, Avegotchi and more. Notaby, it provides a random number generator (VRF) that assists with NFT creation, unpredictable gameplay & fair rewards.

Social Impact: The protocol partners with several nonprofits, NGOs and other institutions to assist with sustainability, financial inclusion and public goods projects. Notable partners in this area include Unesco and Unicef, Technalia, Lemonade and Arbol.

And I also mentioned Climate Markets: Chainlink provides enterprise-grade middleware that help power climate markets Notable partners include Hyphen, Floodlight and Correst.

And the entire ecosystem is powered by one token: $LINK token, which has three purposes:

It’s used by clients to pay for services.

Received by oracles as compensation for work performed.

Serves as collateral to ensure that oracles behave properly.

For example: Let’s say that a DEX wants to show the price of Ethereum or another token on its website. They would:

1. Create a request for data from the Chainlink network to obtain the price of $ETH or the relevant token.

2. Submit this request along with payment in the form of Chainlink’s native token, $LINK

3. Chainlink selects the best oracles based on: their reputation and their ability to find the necessary data.

4. Oracles will find the requested data and send it back to Chainlink. Oracles must stake $LINK tokens as collateral to ensure proper behaviour.

5. Chainlink aggregates the results, chooses the most accurate answers and discards outliers. Oracles that are deemed to be negligent and / or malicious may face penalties and lose some or all of their collateral

6. The information is routed through Chainlink to the DEX.

This is a very practical utility for the token and as more and more service providers partner with Chainlink to use their data oracle services, the more demand this creates for the LINK token.

On top of that, Chainlink occupies a unique position as the dominant “middleware” layer transferring data between blockchains and the real world Since it’s already transferring data, it’s not a huge leap to perform computations on that data, store or even transmit it

This is exactly what the protocol plans to do with the release of Chainlink 2.0 It’s utilizing “hybrid smart contracts” – computer programs that that combine ON-chain data with OFF-chain data – to create a new layer that can perform computations off-chain. In this context, Chainlink 2.0 could serve as a de facto “Layer 2” network. Traditional Layer2 solutions like roll-ups, are designed to perform calculations off-chain and plug the results back into the native chain, which is what this 2.0 upgrade aims to achieve. And it would theoretically be able to use its system of hybrid smart contracts to connect different blockchains. Its network of oracles could securely route messages between one another and transfer tokens between chains.

Chainlink has achieved significant traction to date. It has enabled over $6 trillion in transaction volume; Delivered 5 billion data points on-chain and it supports 14+ blockchains and L2s. The protocol has also partnered with a variety of players in Web 2.0, such as Google Cloud and Oracle and dozens of projects across the Web3 ecosystem.

It’s also worth mentioning that there are other oracles, like :

Band Protocol

API3

Nest Protocol

Berry

DIA

But compared to these, Chainlink is by far the most popular with nearly 1,500 connections. In comparison, BRY, the next biggest player in this sector is with around 180 connections, not even a quarter of what Chainlink has achieved. It’s practically so much ahead of the competition, that I don’t see any threat to its top spot in this sector and this is another viable reason to remain bullish on it and to add it to my crypto portfolio.

When it comes to tokenomics and market performance of the native $LINK token, here are some numbers:

The token’s current marketcap is $4,2 billion dollars with a circulating supply of 517 million tokens. That’s just above half of its total supply, which is 1bln. At launch, 35% of these were allocated to the public, 35% to the ecosystem and 30% to the company. While 30% may seem high, it’s important to note that these funds aren’t simply going into the founder’s pockets. This capital is used to fund development in lieu of VCs (notice there is no “private investor” allocation).

The initial price of the token at launch was around $0.09 to the dollar, which at current price makes about 9,089% ROI to date. This is as of right now. If you look at its ATH though, this was back in 2021 and it reached $52, so at that point we were looking at 56,000% gain. Those who sold at the peak surely locked some astounding profits on this token. If you’re not in that group, just remember that in every next bull cycle, tokens with strong fundamentals, like this one, tend to greatly surpass their previous ATHs, so this could serve as a measure for potential price appreciation if you were to buy $LINK today.

On top of that, the chart is looking bullish too. This is the weekly chart of LINK Vs USDT on Binance, I use this pair simply due to the high trading volume, and you can trade this token on pretty much every exchange. I can’t think of any exchange that doesn’t support the token.

We can clearly see that we are in the beginning of a trend reversal, there’s a breakout from this falling wedge pattern that was formed during the bear cycle and a clear indication of a breakout on the upside here on the weekly timeframe, indicating that the macro is turning bullish. It’s really a good time to jump in if you ask me, but this is by no means a financial advice.

This is my personal opinion.

 

Worldcoin, a cryptocurrency project founded by OpenAI CEO Sam Altman, launched on Monday and my Twitter feed is full of posts about it. What’s the fuss? Is it worth it? Is it a wise investment and should you rush to buy this token?

Let’s explore.

With AI technology developing extremely rapidly since the start of the year, many believe that soon it’s going to take over lots of human jobs leaving thousands unemployed. It might even get to the point where it becomes very difficult to tell the difference between humans and AI bots online. The threats that AI poses are being debated on a daily basis along with its advantages and benefits - especially in the field of mundane tasks automation. It surely saves time, helps us be way more productive than even before. But should we be worried about the negatives?

Many already are. But of course, with new threats and dangers that AI presents to us as it advances, we come up with solutions. And the Worldcoin project is just one of these solutions.

As Vitalik Buterin (co-founder of Ethereum) very eloquently described it, The philosophy behind the project is simple: AI is going to create a lot of abundance and wealth for humanity, but it also may kill very many people's jobs and make it almost impossible to tell who even is a human and not a bot, and so we need to plug that hole by creating a really good proof-of-personhood system so that humans can prove that they actually are humans, and giving everyone a UBI. Worldcoin is unique in that it relies on highly sophisticated biometrics, scanning each user's iris using a piece of specialized hardware called "the Orb". Why am I freaking out just by the thought of this?

Can I trust any such device to keep my scan from leaks, hacks or other malicious intent? It’s certainly a concern.

Nevertheless, the key focus here is on reinventing digital identity without compromising a person's real-world identity. Make it decentralised via the use of a blockchain network and make it the world’s largest identity and financial network as a public utility, giving ownership to everyone. In other words, this project aims to create a digital identity that proves you are a real and unique person while fully protecting your privacy. I’m yet to be convinced that privacy can be fully protected, but that’s a topic of another discussion I guess…

So, Worldcoin aims to create universal access to the global economy regardless of country or background, accelerating the transition to an economic future that welcomes and benefits every person on the planet. The CEO of OpenAI Sam Altman together with Alex Blania founded Worldcoin over three years ago. The main idea behind the project is to present a solution which can effectively verify human identity online without violating users’ privacy. It was initially launched in 2022 and recently launched its proof-of-personhood blockchain platform, which has drawn mixed reactions from the cryptocurrency community.

Among the most fierce critics of the project is fellow crypto analyst Andrew Bailey, who took to Twitter and posted this thread outlining some of the things he finds problematic: namely, the fact that the team was not prepared for people who sell their credentials on the black market, something that seems to be a thing in China, where people are so far unable to sign up for Worldcoin. They simply buy the necessary credentials from Cambodia, Africa and other countries to bypass the restrictions, but ultimately, they prove how easy it is, so far, to cheat the system and defeat its purpose.

The orb itself is a controversial device, with its own limitations and risks of abuse. Andrew calls it dystopian and dangerous - somewhat Orwellian, even though, we’re talking about a decentralised, tamper-proof method of storing that data. Before I can trust it, I will need more convincing. Track record would be one way to go about it, but the project just launched, so I’ll have to wait some more before there is any track record.

Another concern outlined by Andrew, is the fact that the project is run by a non-profit foundation - in other words, a centralised entity that will work towards the goal of making the project decentralised, but clearly it is not a DAO from the get go. A Red Flag in my opinion too.

And last but not least, Andrew points out the claim that their goal is to distribute the coins equally to all, while in reality, insiders will get 20% of all tokens. This is how many other projects started, giving founders or angel investors similar percentage of their tokens and this is something that is always criticized, it’s largely frowned upon in the crypto community and definitely not a winning strategy. Some projects like Zcash became a target of multiple forks by their community, precisely to eliminate such unfair advantages and privileges.

Other criticism comes from an article titled: “Deception, exploited workers, and cash handouts: How Worldcoin recruited its first half a million test users”. Published by the Massachusetts Institute of Technology’s media outlet, it examines some of the issues of the project’s beta testing. The company has been accused of using deceptive marketing practices, collecting more personal data than it acknowledged, and failing to obtain meaningful informed consent. The company has also been criticized for violating the European Union's General Data Protection Regulations (GDPR) and local laws. At the time of publishing this article, Worldcoin had scanned 450,000 eyes, faces, and bodies in 24 countries, and its aim was to garner a billion sign-ups by 2023. My research shows that they have about 2 million by now , but this number must be greatly increased in the last few days with the hype surrounding its launch. Worldcoin is scaling up "orbing" operations to 35 cities in 20 countries. As an enticement, those who sign up in certain countries will receive some of Worldcoin's cryptocurrency token WLD for free.

Anyway, I don’t mean to be overtly critical and negative about the project, so let’s talk more about their unique value proposition. Indeed, the project does have a vision as to how they tackle a real world problem, the criticism so far is mainly directed to the methods they have proposed in their pursuit of that vision.

So, back to their vision. The increasing availability of powerful AI models to individuals, combined with open-source tools for generating deep fakes, raises concerns about the ability to control their usage. The Turing Test, previously used to differentiate humans from AI, is no longer sufficient as modern AI is close to passing or has already passed this test. Video-based verification is also becoming unreliable due to deep fake impersonations. As a result, there is no reliable method to verify humanness online.

Despite these challenges, proving humanness in the digital domain is essential for empowering individuals in the new era of AI. To address this, the Worldcoin project has introduced the World ID protocol, which focuses on verifying humanness through real-world attestations using biometrics. The protocol aims to be decentralized, privacy-focused, and inclusive, allowing individuals to prove their humanness without relying on third parties.

The need for proof of personhood arises due to advanced AI's potential for sybil attacks (creating multiple accounts) and spreading AI-generated content for deception and disinformation. Proof of personhood helps address both challenges by providing natural rate limiting for account creation and allowing users to filter and interact exclusively with authenticated accounts or verified content.

Ultimately, proof of personhood serves as a fundamental building block for digital identity, along with digital authentication and verification layers. It establishes an individual's humanness and uniqueness, ensuring that only the rightful owner can use their identity online. Worldcoin is proposing Biometrics - in particular, eye-scanning of the iris and it has been criticized for privacy and security concerns around the Orb, design issues in its "coin", and for ethical issues around some choices that the company has made.

Human identity and subsequently, privacy, is one of the most sensitive subjects and a valid concern for us in the age of AI.

Vitalik Buterin addressed this in his latest blog post just 2 days ago, where he rightfully raised the questions about the risks involved. They include unavoidable privacy leaks, further erosion of people's ability to navigate the internet anonymously, coercion by authoritarian governments, and the potential impossibility of being secure at the same time as being decentralized.

And now, with the launch of their mainnet 2 days ago, this project has become a hot topic in the cryptoverse. As I mentioned, my Twitter feed is full of posts and comments about it, so is this a project that you should be invested in?

Let’s examine it further, so you can have some basis points to take into account in your decision-making.

How does Worldcoin work?

Each Worldcoin user installs an app on their phone, which generates a private and public key, much like an Ethereum wallet. They then go in-person to visit an "Orb". The user stares into the Orb's camera, and at the same time shows the Orb a QR code generated by their Worldcoin app, which contains their public key. The Orb scans the user's eyes, and uses complicated hardware scanning and machine-learned classifiers to verify that:

The user is a real human

The user's iris does not match the iris of any other user that has previously used the system

The first token (WLD) is to be globally and freely distributed to people, for both utility and future governance, just for being a unique individual. It enables payment, purchases, and transfers globally using the Worldcoin token, digital assets, and traditional currencies. Worldcoin is an open-source protocol, supported by a global community of developers, individuals, economists, and technologists. I have to mention also, that certain geolocations are not permitted, like China and US.

Tokenomics

The tokenomics of the Worldcoin project were released on Monday after the launch of the mainnet.

Total supply is capped at 10 billion tokens, which will remain fixed for at least the network's first 15 years. After that, an inflation rate of 1.5% could be implemented by voters. The tokens were minted ahead of launch and had a fully diluted valuation of $20.6 billion. The circulating supply of WLD at launch was 143 million tokens, with 43 million set aside for early users and 100 million loaned to market makers. The loans have a duration of three months and give market makers the option to purchase WLD tokens instead of returning the loan. The agreement with market makers is seen as an effective way to manage the market for WLD, but there are concerns about the potential for quick sell-offs and price stability in the long term. 75% of WLD will be allocated to members of the Worldcoin community over time, with the remaining 25% split among the protocol's initial development team, investors, and a reserve of 170 million WLD. The reserve will be managed by Tools For Humanity, a US-based technology firm. The tokens belonging to the network's team and investors are locked up at launch.

The price so far is hovering around $2.40 which makes the market capitalisation of Worldcoin roughly around $250 million (US). The token reached a peak on launch day, when the price hit $3.33 and it’s currently -27% down from that ATH. As it corrected, it hit a low of $1.91 and then recovered to its current value of $2.41. It’s available on some of the bigger exchanges, like Binance, Kucoin, Huobi and OKX.

This is a utility token that grants users the power to participate in the Worldcoin network. According to this article in Decrypt, the launch supply of WLD was mostly made up of market maker loans. According to a formula in the whitepaper, market makers would have the option to purchase WLD tokens at $2.80 per token if they don’t want to return any WLD loaned, assuming the 100 million tokens were distributed evenly. The loans are for 3 month-period and I feel that we could see a lot of selling pressure at the point of expiry of those. Especially if the price is above the 2.80 mark by that point. Take this into account. 3 months from now means late October.

In conclusion, Worldcoin's ambitious venture into the realm of digital identity with the World ID protocol represents a pioneering step towards addressing the challenges posed by advanced AI and deep fake technology. By prioritizing privacy, self-sovereignty, inclusivity, and decentralization, Worldcoin aims to empower individuals to authenticate their humanness in an ever-evolving digital landscape. As the world ushers in this new chapter of human history, Worldcoin's vision of a global network of verified individuals, accessible to all as a public good, holds the promise of fostering online fairness, social interaction, and trust. Worldcoin would also solve key technical problems for Web3, the blockchain-powered third iteration of the internet, where data and content could be decentralized and controlled by individuals and groups rather than a handful of tech companies.

While the road ahead may be filled with challenges, Worldcoin's dedication to building a more secure and authentic digital ecosystem leaves us optimistic about the possibilities it can unlock for the future of human interaction in the digital domain. Should they succeed, that is. The project is in its infancy right now, with some fierce criticism in regards to privacy and identity protection. It’s a good idea to place it on your crypto radar for now, but definitely do more research and monitor it for some time before you make a decision whether to add it to your portfolio or pass on this one. This is what I’m doing, so naturally, I can’t advise otherwise. But of course, I am not providing investment advise, let me be clear. I provide analysis and share with you my research, my opinion and my own peace of mind.

Take this as a starting point for your research and build up on it.

If you want more market analysis and updates on the latest developments in the crypto space, join my email list to get the Crypto Corner monthly newsletter: https://www.ojjordan.com/crypto-corner

Today, I want to dive into the exciting world of building a successful trading plan. Trust me, having a rock-solid plan in place is the key to conquering those fast-paced financial markets. So let's explore the essential steps to craft a trading plan that'll set you apart from 90% of the crypto traders out there, who, for the most part, go into trading head first, without doing their homework. The fact that you care enough to read this article is already a sign that you want to be more prepared and better equipped to make your crypto trading a success and this is what I’m trying to achieve with this blog - educate, inform and ultimately, help all my viewers to have a successful crypto journey, like I have. I turned a few hundred dollars into way over a million in my first year of trading (back in 2016) by applying many tactics I learned and trading plan is one of them.

Step 1: Define Your Trading Goals

Alright, first things first. Take a moment to reflect on what you want to achieve as a trader. Are you aiming to generate a steady income? Maybe you want to protect your capital or build long-term wealth? Jot down your goals in your trader notebook, my friends, because they will be the guiding light for your trading journey. You will need to track your progress at least in the beginning, so get a notebook and dedicate it to trading. You will use for many things - pen down helpful tips, or even how to use certain indicators, moving averages, whatever you find useful from all the videos you watch on a daily basis - hopefully you do that already. You will write your entry and exit prices to monitor your performance and as you become more experienced, you might stop doing that, but at least in the beginning, it’s a good idea to have a journal for this.

Step 2: Choose Your Trading Strategy

Now, let's talk strategies! This is where the fun begins. You need to find the trading approach that suits your style and aligns with your goals. There's a vast sea of strategies out there, so take your time to explore and experiment. Look at various trading techniques, from swing trading to day trading, trend following to counter-trend strategies. The choice is yours! You don’t have to stick to one strategy, I change mine according to the market conditions. In a bull market I tend to do less trades and chase the large moves mainly - in other words, my trading style is more of a position trader. However, as we go into a bear market, I start doing more swing trading and scalping - strategies more suitable for a short-term trader. I hardly ever do intra-day trading as it’s not for me, but I know many people who like that. They jump in and out quickly, making a couple of percentage points profit and this suits them. I prefer chasing larger moves and I tend to make 20-30% or more, but that’s not always the case, with swing trading, which I do in the short term, usually over a few days or a week, I often chase a 5-7 or 10% move… it really depends on the market conditions.

Step 3: Risk Management is King

Now, picture this: You've found your strategy, and you're ready to dive in. But hold on a second! Before you jump into the deep end, my friends, you need to consider risk management. Protecting your capital is vital in this game. Determine how much you're willing to risk on each trade, set stop-loss orders, and calculate position sizes based on your risk tolerance. Remember, a solid risk management plan can be a trader's best friend.

Step 4: Keep a Trading Journal

I actually started with this rule in my intro, but I’ll repeat it again. It may sound tedious, but trust me, it's worth every minute. I actually do this digitally now. I have a few excel files that I use to make notes on my trades. It’s easier this way as I get to copy and paste my trade positions and I set the auto calculations, so this way I know exactly what I bought and when, what is my average buy price, what’s my average sell price, am I on the red or in profit… I can also even insert screenshots to help me remember what I analysed, why I took a trade, was it worth it… I can learn from my own mistakes this way and that’s always the most important part. Don’t repeat your mistakes. So, take notes of your trades, analyse the results, and identify patterns or areas for improvement. The insights you gain from your trading journal will be like nuggets of wisdom that'll pave the way for better decision-making and growth.

Step 5: Stay Informed and Adapt

Crypto markets are ever-changing, and at a really fast pace. Many times you’ll see that a coin you hold is doing some form of an upgrade, they might change their protocol, or even their blockchain, many coins start as tokens built on Ethereum and later migrate to their own blockchain in which case there’s a token swap that you need to be aware of. Missing a deadline to swap your tokens to the newly formed ones could leave you with unusable tokens and you don’t want that. This is not the only reason why you should keep up with the news though. To stay ahead of the game, you have to be well-informed about the whole crypto industry and be aware of what’s happening, what people are talking about, what rumours are floating around... Stay updated on market news, economic indicators, and company announcements that can impact your trades. Remember, adaptability is key. Be open to adjusting your strategies and embracing new opportunities as the market evolves.

‌With that said, you are ready to go ahead and put this into practice. Remember: everyone's trading style is different and there's not one rule for all, so make sure to adjust things according to what suits your style and allow room for errors. Fix errors as you go along and learn from your mistakes. This is how you grow and become better and better over time.

Trade safely and stay profitable!

#crypto2023 #tradingStrategy #tradingplan #cryptotrading #cryptoinvesting

So, Binance finally added Trailing Stop-Loss Orders for us to automate at least some of our trades. This is a very useful feature which saved me many times from big dumps, so I'm sharing with you a simplified break down of what this type of order does and how to use it.

If you're looking for a way to protect your profits and manage your risk when trading stocks, a trailing stop order might be just what you need. By setting a stop loss level that automatically adjusts as the stock price moves, you can minimize your losses and lock in profits while also allowing for further upside potential. In this article, we'll take a closer look at how trailing stop orders work and provide some real-world examples of how to use them effectively in your trading strategy.

Trailing stop orders are a type of trade order that is used in financial markets such as stocks, forex, and cryptocurrencies. This type of order is used to help traders lock in profits and limit their potential losses.

Trailing stop orders are a type of trade order that is used in financial markets such as stocks, forex, and cryptocurrencies. This type of order is used to help traders lock in profits and limit their potential losses.

A trailing stop order is an order that automatically adjusts the stop loss level as the price of the asset moves in the trader's favour. The stop loss level is the price at which the trader's position will be automatically closed out if the market moves against them. It can be placed in both directions (buy or sell).

The trailing stop order works by setting a trailing stop distance, which is the number of points or percentage distance from the current market price. The stop loss level is then adjusted as the market price moves in the trader's favour, but never in the opposite direction. This allows the trader to lock in profits as the market moves in their favour while also limiting their potential losses. If it's a sell order, the stop loss price will move up as the token price goes up. Then, when the market takes a dip, the stop loss will not move down, so the order will get executed if the price of the token reaches that of the stop loss. So, if you placed a stop loss of 8% let's say, then your sell order will get executed when the market drops by 8% or more from the highest price that was recorded while your order was active. 

 

It's important to choose the right trailing stop loss for your trades. A stop loss that's too tight, such as 3% or 5%, may result in the trade being stopped out before the price has a chance to move higher due to minor pullbacks that tend to move more than this. On the other hand, a 20% trailing stop is excessive and may not be suitable based on recent trends. You have to take into account the regular market moves. If the average pullback of the pair you're trading is about 4-5%, with bigger ones near 8%, then you don't want to place a stop loss less than that. A 3-4% stop loss would mean that the typical market volatility can easily eat your stop loss quickly and you're out of the trade. Maybe even at a small loss. What I mean, is that if you're trading longer term and chasing bigger market moves, a better option would be a trailing stop loss of 10% to 12%, which provides enough room for the trade to move while getting the trader out quickly if the price drops by more than 12%. This is larger than a typical pullback, which could indicate a trend reversal instead of just a pullback. Ideally, this is what your goal is. You want to prevent losses from a trend reversal, not just a minor pullback. Unless you're trading short term: small moves. In that case, a 3-4% stop loss can save you from a bigger move of say - 5% or 7% - this would work fine for a short term swing trade, but you'll have to be proactive and make sure you monitor that pair closely, so you can jump in soon after, before you miss another rally.

For example:

Let's say you bought ETH at $1000 and set a trailing stop order with a trailing stop distance of 10%. This means that your stop loss level will be adjusted to 10% below the highest price the token reaches after you buy it. Your stop-loss being 10% is originally sitting at $900. If the price moves up to $1100, your stop loss level will be adjusted to $990 ($1100 - 10%). If the price continues to rise and reaches $1200, your stop loss level will be adjusted to $1080 ($1200 - 10%). If the price then drops to $1080 or below, your position will be executed at the stop loss level of $1080, limiting your potential losses to 10% and locking-in a small profit of $80.

On the other hand, if the token price continues to rise and reaches $1300, your stop loss level will be adjusted to $1170 ($1300 - 10%). If the price then drops to $1170 or below, your position will be automatically executed at the stop loss level of $1170, locking in a profit of $170 per token.

With a tighter stop-loss it will look like this:

You bought ETH below $1000 and set up a stop loss at $1000 at 4%, your stop loss level would be originally set at $960 ($1000 - 4%). If the price drops to $960 or below, your position will be automatically closed out at the stop loss level, limiting your potential losses to 4%. Let's say the price actually rises to $1100, your stop loss has moved up too and it's now set at $1056 (4% below $1100). Then the price falls back to $1050. Your order is triggered by this drop and ideally you sell at $1056, locking in a small profit of $56 but avoiding bigger loss. If the price doesn't fall, but goes higher, reaches $1200, your stop loss will have adjusted upwards to $1152 ($1200 - 4%). A subsequent drop to that price level will trigger your order and you can lock in a profit of around $150 depending on how fast your order can be executed. If it's indeed in Ether, there's a lot of liquidity, high trading volumes, so you're okay. Some altcoins have very low liquidity, so you have to be careful with those.  

And also, if the token price continued to rise, the trailing stop loss level would also continue to trail the price, moving upwards as the token price continued to climb. This would allow you to continue to participate in any further upside potential while also providing downside protection in case the stock price were to suddenly reverse and decline. But if a 4% or 5% stop is the typical market volatility, then you can be out of this trade too soon. 

This is why you need to test this out a few times before you can use it more confidently. Make sure you research the market well, so you know what to expect. What are the most likely moves, the most likely scenario. I'm not saying you have to know exactly what will happen - this is not possible. But we use technical analysis to be able to tell what is likely to happen, usually there are at least two or three scenarios that can play out and being able to read the charts and anticipate certain moves, will be essential for making this work best for you.

Disclaimer: Trailing stop orders can be a useful tool for traders who want to take advantage of market movements while limiting their potential losses. However, it's important to note that trailing stop orders do not guarantee profits or prevent losses in all market conditions, and traders should always have a risk management strategy in place.

#tradingStrategy #trading #stoploss #trailingstoploss #technicalanalysis

Cryptocurrencies have become a popular investment option for many people over the years, they’ve become pretty much mainstream already and with that, the concept of "altcoins" has also become more prevalent. Altcoins are alternative cryptocurrencies that are not Bitcoin, and while they may not have the same market capitalization or name recognition as Bitcoin, they can still be valuable investments in their own right.

In fact, you might have seen plenty of posts on social media that go something like this:

“Bitcoin will not make you rich, altcoins will”

or maybe: “Bitcoin can double your money, but altcoins will make you a millionaire”.

There are all kinds of reiterations of this statement, I don’t need to show you too many of these, I’m sure you get the point. What this means, is that Bitcoin has already become too expensive and even though its price continues to go up, it does it in much more restrained fashion, compared to altcoins, that sometimes can jump 100x, 1000x, even 10,000x, during a bull market. And that’s true.

For instance: the memecoin - Shiba Inu - a technically useless token, created on the back of the hype surrounding another memecoin Doge, which is favoured by Elon Musk. The media attention that Doge gained gave birth of plenty of other memecoins and Shiba Inu is just one of these. It was launched in 2021, during the peak of the last bull market and delivered one of the greatest returns in financial market history, soaring by 43,800,000%. A perfectly timed investment of just $10 in that year would've turned into more than $4 million. Astounding, right? Please, don’t rush into buying Shiba now, this is not what I’m saying - that ship has sailed.

This is just one example of how some altcoins can go to unthinkable levels purely on the back of hype and successful marketing.

Shiba to this day is just a memecoin with no use case and a bunch of promised upcoming upgrades that could turn it into a coin with utility, but that’s not yet materialized. Its price went down by 95% during the bear cycle last year and it’s recovering slowly but it’s still 87% down from its ATH - so this is by no means a call to buy Shiba.

And since I mentioned Doge, the mother of all memecoins - launched in 2013 - way before most of us had any interest in crypto - it is another great example of altcoins success stories - despite zero utility. During the bull market of 2021 Doge famously won the affection of the world’s richest man Elon Musk, who through numerous tweets managed to pump its price by more than 21,000% - the token jumped from around 1 cent of a dollar, to a whopping 73 cents at its peak in May 2021.

It was the biggest success story for many tiktokers back then, people were posting immense gains back then. Sadly, these were mostly noobs who didn’t know how to capitalize on these gains and as the hype subsided, they just watched their millions melt away - the coin is 88% down from its ATH and that’s been the case for over a year now. Most of these TikTokers didn’t sell because they were waiting for $1 price tag or even $10.. whatever they were told - which is not how you play this game. They could have sold at 70 cents, or even 60 cents, or 50 cents would have been a wise move. The coin is 8 cents today. Why wait when you can sell high and buy low again. Or even better - buy something else that will perform better in the meantime.

Ok, so let’s talk about the phenomenon known as "altseason" and how to make the most of it.

First, what is an Altseason and how to know when it occurs?

Altcoin Season Defined

Altseason is a term used to describe a period of time in which altcoins experience a significant increase in value relative to Bitcoin - in other words, they outperform Bitcoin and they do it my a huge margin. During this time, investors shift their focus away from Bitcoin and towards altcoins, resulting in a surge in demand for altcoins and a subsequent increase in their prices.

Altseason usually occurs when Bitcoin is experiencing a period of consolidation or stagnation. During these times, investors may become impatient with Bitcoin and start looking for alternatives with better chances for higher returns. This can lead to increased demand for altcoins, which in turn drives up their prices. Consolidation for Bitcoin means that the price is moving mostly sideways - of course, it is never just flat, but the volatility is low, with small ups and downs, so mostly sideways. If Bitcoin is making bigger moves, money will either stay in Bitcoin or it will go into stablecoins - during big drops, so in this case, altcoins are not likely to boom. For a true altseason, we need Bitcoin to stay relatively stable for a while.

How to Identify Altcoin Season?

So, how can you identify when altcoin season is occurring? There are a few key indicators to look for:

Bitcoin dominance: Bitcoin dominance refers to the percentage of the overall cryptocurrency market that is made up of Bitcoin. When Bitcoin dominance is high, it generally means that investors are more focused on Bitcoin than altcoins. Conversely, when Bitcoin dominance is low, it may indicate that investors are shifting their focus to altcoins.

Altcoin market cap: Another indicator of altcoin season is the market capitalization of altcoins. When altcoin market cap is rising rapidly, it may be a sign that investors are pouring money into altcoins and that altcoin season is in full swing.

Social media activity: Finally, social media activity can also be a good indicator of altcoin season. If there is a lot of buzz and excitement surrounding certain altcoins on social media platforms, it may be a sign that investors are becoming more interested in those coins and that altcoin season is underway.

Lastly, here’s one very useful tool - the tokenmetrics AI powered tool that shows us when we’re in Altseason or Bitcoin season. It’s a tool they released just over a year ago, and it’s so simple. I use token metrics a lot as they have so many tools and metrics that help me in my market analysis and this is a free one, so make use of it. My invite link is in the description below, so get it from there. As you see, right now we’re deep in the Bitcoin territory. We dropped there on 8 March - which is when I exited all my altcoin positions as I don’t want to be a bagholder during these low periods for alts. This tool alone, can help you prevent major losses. As I said, why would you hold a token that is losing value when you can exit when its high and if you really want to have it in your portfolio, then buy it again when it’s low.

What to Do During an Altseason?

Here are a few tips:

Always remember that Altseason is not going to last for too long, so be prepared to sell when the market turns. Buying tokens during an altseason is too risky because you’re buying during a peak of the market, so you’re buying high. Depending on how long it lasts, you can see your tokens gain hundreds percentage points in value, be sure to sell during peaks or as soon as you see that they hit resistance and the price starts correcting. Don’t be a bagholder - it can take many months or even years for a token to ever reach its previous peak and some never do. Ideally, you want to enter during the early days of an Altseason and exit during its peak or at least in the early days of the subsequent downtrend. A downtrend always follows.

Keep an eye on Bitcoin's dominance: Bitcoin's dominance tends to decrease during altcoin season, which means that altcoins have more room for growth. If you see the Bitcoin dominance bouncing back up, or any signs of a trend reversal, it can be your sell signal or at least an alert for it.

Diversify: While altcoin season can be a great opportunity to make money, it's important to remember that altcoins are generally riskier investments than Bitcoin. Therefore, it's a good idea to diversify your portfolio across a range of altcoins rather than putting all your eggs in one basket. This can help you minimize risks and maximize returns.

Do your research: Before investing in any altcoins, be sure to do your research and look beyond the top cryptocurrencies: During altcoin season, many smaller, lesser-known altcoins may experience significant growth. Keep an eye on the market and identify emerging altcoins with strong potential. Sometimes we see shitcoins or memecoins - in other words, coins with bad fundamentals make quite a spash too - this is not uncommon, but it’s usually driven by hype and lots of social media promotion, so keep an eye on what people are talking about online. This can help spot a winner early on. This is very much a gamble though, it’s not everyone’s cup of tea.

Take advantage of market sentiment: Altcoin season can be influenced by market sentiment, so look for altcoins with positive sentiment, such as those with a strong community, active social media presence, or positive news coverage. Stay up-to-date with the latest news and market trends, and identify potential catalysts that could drive demand for certain altcoins. Look for altcoins with upcoming product releases, partnerships, or adoption by major institutions. One way to monitor what’s upcoming is the coinmarketpcap’s calendar page. There are other such websites too, this is just one of them.

Use technical analysis: Technical analysis can help you identify entry and exit points for altcoin trading. Look for price patterns, support and resistance levels, and use indicators such as moving averages and relative strength index (RSI), learn to use the Fibonacci retracement tool to be able to identify the most likely resistance or support levels - I use it all the time here on this channel when I do technical analysis, so even by just watching what I do, you can get the hang of it.

Practice risk management: Altcoin season can be volatile, so it's important to practice proper risk management. Set stop-loss orders, use trailing stops, and only invest what you can afford to lose. I know that stop loss orders can sometimes work against you in crypto trading - there are many times when the price would go down, just enough to hit your stop loss, only to recover the next day and you can get left out of the next rally, but it’s better too re-enter when you see the rally continue. This way you are still safer. If the pullback goes deeper, turns into a full-on correction, the price can dive by another 20-30-50% in the coming days, so it’s better safe then sorry.

Be cautious of pump and dump schemes: Altcoin season can also attract scammers who try to manipulate the market with pump and dump schemes. Be cautious of altcoins with sudden and suspicious price spikes, and do your own research before investing.

Don't underestimate the power of FOMO: Altcoin season can be driven by FOMO (fear of missing out), which can cause investors to make impulsive decisions. Be mindful of your emotions and avoid making rushed decisions. If a coin has already pumped by 80% today, maybe it’s best to avoid it. It could go another 50% by tomorrow, but it could also be the end of the pump. If you buy a token during such a peak, at least be prepared to sell it right away if it starts dumping. Don’t hold it out of fear of losses. Take the loss, move on to another one. Buying in FOMO has rekt many portfolios. I’ve done it too. A stop-loss can save you from being a bagholder in this case, so use it.

Keep an eye on trading volumes: Trading volumes can provide valuable insights into market demand for certain altcoins. Look for altcoins with high trading volumes and liquidity, as these are more likely to experience sustained growth during altcoin season. Also, you want to be able to quickly jump in and out if necessary and this is possible only when there’s enough liquidity.

Set realistic expectations: Finally, it's important to set realistic expectations for your investments during altcoin season. While some altcoins may experience massive gains, others may not perform as well. Be prepared for volatility and don’t get too greedy. If a coin starts a pullback, it can be a sign that its peak has passed, so don’t hold on for dear life. Altseasons are not very long.

The biggest altcoin season to date occurred in late 2017 and early 2018. During this period, the prices of many altcoins surged to all-time highs, with some experiencing gains of several thousand percent. This altcoin season was fuelled by a combination of factors, including increased investor interest in cryptocurrencies, the rise of initial coin offerings (ICOs), and a general sense of hype and speculation surrounding the market. However, the altcoin season eventually came to an end, and many altcoins experienced significant losses as the market corrected. We had many other such occurrences since then, during the last bull cycle in 2020-21 we also saw several altseasons, they were usually shorter, often lasting for a couple of weeks or up to a month. Remember, the best altseasons happen during Bitcoin consolidation periods and Bitcoin doesn’t move sideways for too long. Once Bitcoin starts rallying up (or down), money flows out of altcoins again. It either goes back into Bitcoin or into stablecoins (if Bitcoin is taking a dive), so play altseasons with extra caution and the mindset that it’s a short-term trade.

If you follow these tips, you will be way better off than 90% of the traders out there, most don't know how to navigate these markets.

☝These are my opinions, not financial advice, always DYOR.

The Zilliqa blockchain has recently announced that it is bringing the Ethereum Virtual Machine (EVM) to its mainnet, which has excited many in the blockchain world. This upgrade is expected to take place on 25 April and naturally, it’s one that creates a lot of buzz. But what does this mean for the Zilliqa platform and its users?



In this article I explain in simple terms what Zilliqa is and how the EVM implementation will benefit its community, as well as how it can affect the market value of the ZIL token.

Zilliqa is a blockchain platform that was launched in 2017 with the aim of solving the issue of scalability that plagues many existing blockchains but primarily Ethereum. Zilliqa uses sharding technology to divide its network into smaller groups of nodes, allowing for higher throughput and lower transaction fees - a key advantage of many of the Ethereum competitors, since Ethereum, even after all of its upgrades and protocol changes, is still a costly platform, with the highest transaction fees than any other blockchain.

In other words, one of the main advantages of Zilliqa is its focus on scalability. By using sharding, Zilliqa can process thousands of transactions per second, making it one of the fastest blockchain platforms on the market. This makes it an attractive option for applications that require high throughput, such as gaming and e-commerce.

This sharding technology allows it to scale horizontally without sacrificing security.

Sharding involves dividing the network into smaller groups, or shards, that can process transactions in parallel. This not only improves throughput, but also enhances security by making it more difficult for attackers to compromise the entire network. Ethereum, by the way, is also working on its own version of sharding, but as of right now, that’s not yet implemented.



Over the years, Zilliqa has attracted a growing user base, particularly in the gaming and finance industries. In 2021 the network surpassed 1 million wallet addresses on its platform, a milestone that demonstrates the growing adoption of the blockchain.

Now, with the integration of the Ethereum Virtual Machine (EVM) onto its mainnet, Zilliqa is opening up even more opportunities for developers and users. By enabling the use of Ethereum smart contracts on its platform, Zilliqa is providing a bridge between the Ethereum and Zilliqa ecosystems, allowing for greater interoperability and creating a more connected blockchain community.

The EVM integration also means that Zilliqa can tap into the existing Ethereum developer community, which is one of the largest and most active in the blockchain world. This could lead to the development of new and innovative projects on the Zilliqa platform, and help to cement its position as a leading player in the blockchain space.

Zilliqa is not alone in its efforts to bring interoperability with Ethereum. Several other blockchain platforms have integrated the Ethereum Virtual Machine (EVM) and have enabled compatibility with Ethereum-based smart contracts and decentralized applications. Here are a few examples:



Binance Smart Chain (BSC): Binance Smart Chain is a blockchain platform that was launched by Binance, one of the largest cryptocurrency exchanges in the world. BSC is compatible with the EVM, which allows developers to port their existing Ethereum-based applications to the Binance Smart Chain more easily. BSC has gained a lot of attention recently due to its high transaction throughput and low fees.

Polygon (formerly Matic Network): Polygon is a Layer 2 scaling solution for Ethereum that aims to increase transaction throughput and reduce fees. It is compatible with the EVM, which allows for easy integration with existing Ethereum-based applications. Polygon has gained a lot of attention recently due to its partnerships with major players in the blockchain space.

Avalanche: Avalanche is a blockchain platform that aims to provide high throughput and low latency for decentralized applications. It is compatible with the EVM, which allows for easy integration with existing Ethereum-based applications.

Cardano: a blockchain platform that is often mentioned in the same breath as Zilliqa. It has a focus on scalability and security, and uses a proof-of-stake consensus mechanism. Cardano has gained a lot of attention recently due to its high-profile partnerships and strong community.

Polkadot - a blockchain platform that aims to create a more interconnected blockchain ecosystem. It allows for interoperability between different blockchains, and has a focus on scalability and security. Polkadot has gained a lot of attention recently due to its unique approach to blockchain architecture.



And then there’s Cosmos, Harmony, Solana and most recently, EOS, who all have developed such interoperability between their own networks and the Ethereum Virtual Machine, all competing for developers attention and user adoption.



In conclusion:

Zilliqa's integration of the EVM onto its mainnet is a significant milestone that showcases the platform's commitment to scalability, interoperability, and innovation. With its growing user base and unique sharding technology, Zilliqa is well-positioned to continue making an impact in the blockchain world but this will depend on whether it can outperform the competition. Time will tell if this will become a reality. In the meantime, place ZIL on your crypto radar if it's not yet in your portfolio, I see a great potential for the token price appreciation in the coming months.



 

☝These are my opinions, not financial advice, always DYOR.

 ⚠️ DISCLAIMER ⚠️



This information is what was found publicly on the internet. This information could have been doctored or misrepresented by the internet. All information is meant for public awareness and contains what is already in the public domain. Please take this information and do your own research.

If you're interested in blockchain technology and its applications, you may have heard of the term "EVM" or Ethereum Virtual Machine.

EVM is a crucial component of the Ethereum blockchain that enables the execution of smart contracts and decentralized applications (dApps). In this article, we'll explore what EVM is, how it works, and its significance in the world of blockchain and cryptocurrency. Whether you're new to the space or a seasoned enthusiast, understanding EVM is essential to grasping the full potential of Ethereum and its ecosystem.

So, let's dive in and learn more about EVM!

The EVM is a powerful tool that allows developers to create decentralized applications, or dApps. These dApps can do anything that a traditional app can do, but they are much more secure because they are not controlled by any one entity.

The EVM is also Turing-complete, which means that it can run any program that can be run on a traditional computer. This makes it possible to create complex applications on the Ethereum blockchain.

In fact, you can think of the EVM as a decentralized computer that runs on every Ethereum node. It is what allows developers to create decentralized applications (dApps) and also how smart contracts get to be executed on the Ethereum blockchain and of course, it allows users to interact with dApps.

This makes it the heart of the Ethereum ecosystem. It is what allows that run on the Ethereum blockchain.

The EVM is a really powerful tool and as such, it is also quite complex. There are a number of things that people need to know about the EVM in order to use it effectively.



One of the most important things to know about the EVM is that it is a stateless machine. This means that the EVM does not have any memory of its past state. Every time a new transaction is executed, the EVM starts from a clean slate. The opposite to that is a stateful machine, which does have memory of its past state.

The EVM is stateless because it is designed to be secure. If the EVM had memory of its past state, then it would be possible for attackers to exploit that memory to gain an advantage. For example, an attacker could try to find a way to reuse the same input data to generate different outputs. This would allow the attacker to create counterfeit tokens or to steal funds.

To prevent this, the EVM is designed to start from a clean slate every time a new transaction is executed. This means that the EVM cannot remember any data from previous transactions. This makes it more difficult for attackers to exploit it.

However, there are some drawbacks to being a stateless machine. One drawback is that it can make it more difficult to implement certain types of applications. For example, it can be difficult to implement applications that need to keep track of state, such as databases.

Another drawback is that it can make it more difficult to debug applications. If an application is not working as expected, it can be difficult to figure out why because the EVM does not have any memory of its past state.

I mentioned that it’s a decentralized machine. This means that it is not controlled by any one entity. This makes it a more secure option than traditional centralized servers, as there is no single point of failure.

Another important thing to know about the EVM is that it is a deterministic machine. This means that given the same input, the EVM will always produce the same output. This is important for security, as it means that it is impossible to tamper with the EVM's results.

The EVM is also a gas-based machine. This means that each instruction that is executed by the EVM costs a certain amount of gas. The gas that is used to execute a transaction is paid by the sender of the transaction.

The amount of gas that is used by a transaction depends on the complexity of the transaction. Simple transactions, such as transferring Ether, use very little gas. More complex transactions, such as those that involve interacting with smart contracts, use more gas.

This is in fact one of the main limitations of the EVM.

If a transaction runs out of gas, it will fail and the sender of the transaction will not receive their Ether back. This is why it is important to be careful when writing smart contracts, as a poorly written contract could end up costing the user a lot of money.

The EVM is still under development, but it has already been used to create a number of successful applications, such as decentralized exchanges and crowdfunding platforms and there are a number of improvements that are being planned. One of the most important improvements is the introduction of EVM 2.0.

EVM 2.0 is a major upgrade to the EVM that will address a number of the limitations of the current EVM.

EVM 2.0 will be a more scalable and secure EVM. It will also be more efficient, which will reduce the cost of running smart contracts.

In addition to that, there are other blockchains that also develop solutions for the EVM. For example:

Binance Smart Chain (BSC) is a blockchain that was created by Binance, one of the largest cryptocurrency exchanges in the world. BSC is compatible with the EVM, which means that developers can easily port their Ethereum dApps to BSC. BSC is also faster and cheaper than Ethereum, making it a popular choice for dApp developers.

Polygon (MATIC) is a layer-2 scaling solution for Ethereum. Polygon allows dApps to run on its own sidechain, which is connected to the Ethereum mainnet. This makes dApps faster and cheaper to use. Polygon is also compatible with the EVM, which makes it easy for developers to port their Ethereum dApps to Polygon.

Arbitrum One is another layer-2 scaling solution for Ethereum. Arbitrum One is a trustless rollup, which means that it does not require any third-party validators. This makes Arbitrum One more secure than other layer-2 solutions. Arbitrum One is also compatible with the EVM, which makes it easy for developers to port their Ethereum dApps to Arbitrum One.

Fantom is a high-performance, scalable blockchain that is compatible with the EVM. Fantom uses a Directed Acyclic Graph (DAG) consensus mechanism, which makes it more efficient than Ethereum. Fantom is also faster and cheaper to use than Ethereum.

Solana is another high-performance, scalable blockchain that is compatible with the EVM. Solana uses a Proof-of-History (PoH) consensus mechanism, which makes it more efficient than Ethereum. Solana is also faster and cheaper to use than Ethereum.

Polkadot is a multi-chain blockchain that is compatible with the EVM. Polkadot allows different blockchains to communicate with each other, which makes it possible to build decentralized applications that are more complex than what is possible on Ethereum.

Kusama is a canary network for Polkadot. This means that new features are first deployed on Kusama before they are deployed on Polkadot. Kusama is also compatible with the EVM, which makes it a good option for developers who want to experiment with new features.

Avalanche is a scalable, secure, and easy-to-use blockchain that is compatible with the EVM. Avalanche uses a unique consensus mechanism called Avalanche Consensus, which makes it more efficient than Ethereum. Avalanche is also faster and cheaper to use than Ethereum.

EOS is also working on their EVM and in fact, they're about to launch it on 14 April (in just days from posting this article). 



These are just a few examples of other blockchains that develop solutions and interoperability for the EVM. There are many other projects out there, and the space is constantly growing and advancing fast.

In conclusion:

EVM plays a crucial role in the Ethereum blockchain, enabling it to execute smart contracts and power decentralized applications. Its ability to run code in a secure and decentralized manner has opened up new possibilities for developers and businesses to create innovative solutions in various industries. As Ethereum and its ecosystem continue to evolve and grow, it's essential to understand the importance of EVM and how it works. With its vast potential and numerous use cases, EVM is sure to remain a significant component of the blockchain space for years to come.

If you are interested in learning more about the vast landscape of cryptocurrencies, consider subscribing. I provide valuable insight about the cryptoverse, including news, market analysis, updates, and deep dives into new and established crypto-centric projects. This information can help you make sound investment decisions.

I also share my own personal insights and perspectives on the crypto market, so you can get a better understanding of the industry. I want to help you navigate safely the crypto world and with confidence, and I believe that my content is perfectly fitting for that.

Cardano is one of the most popular cryptocurrencies in the world, with a market capitalization of over $40 billion. It is known for its unique approach to blockchain technology, which emphasizes scientific research and peer-reviewed development. Cardano's development team is constantly working on new upgrades to improve the network's functionality, and one of the most significant of these upgrades is the Voltaire upgrade.



Here are some of the things that the Cardano team is working on for the Voltaire upgrade:



Decentralized treasury system: This system will allow the Cardano community to fund projects and initiatives.

Voting system: This system will allow Cardano holders to vote on the future direction of the project.

Delegation system: This system will allow Cardano holders to delegate their voting power to other users.

Voltaire would make Cardano a fully decentralized, self-sustaining system, which could help it avoid unnecessary regulatory oversight from the SEC.



Now, let's explain what exactly is the Cardano Voltaire upgrade and why it's worth paying attention to it.



In its core, the Voltaire upgrade is a major upgrade to the Cardano network that aims to bring decentralized governance to the platform. The upgrade is designed to give Cardano users more control over the network, allowing them to participate in governance and decision-making processes. It is part of Cardano's long-term development roadmap, which is focused on five key areas: scalability, interoperability, sustainability, security, and governance. The Voltaire upgrade specifically addresses the governance aspect of this roadmap, by introducing a suite of new features that will enable decentralized decision-making and community-driven innovation.



The Voltaire upgrade will introduce a treasury system to the Cardano network, which will allow users to propose and fund new projects on the platform. This will enable decentralized decision-making and community-driven innovation, allowing the Cardano community to fund new projects and initiatives on the network.



The upgrade will also introduce a voting system that will allow stakeholders to vote on important network changes and upgrades. This will enable the Cardano community to have a say in the future development of the platform, and ensure that it continues to meet the needs of its users.



Why is the Voltaire Upgrade Important? The Voltaire upgrade is an important milestone for the Cardano network, as it will bring decentralized governance to the platform. This will enable users to have more control over the network, and allow them to participate in decision-making processes. It will also enable community-driven innovation, as users will be able to propose and fund new projects on the platform.



The treasury system introduced in the Voltaire upgrade will also help to ensure the sustainability of the Cardano network. By allowing users to propose and fund new projects, the network will be able to evolve and adapt to changing market conditions and user needs.



The introduction of a voting system will also help to ensure that the Cardano network remains decentralized and secure. By allowing stakeholders to vote on important network changes and upgrades, the community will be able to prevent any one party from having too much control over the network.



Main advantages of the Cardano upgrade. The Voltaire upgrade brings several advantages to the Cardano network. One of the most significant advantages is the introduction of a treasury system. This will allow the Cardano community to propose and fund new projects and initiatives on the network, enabling decentralized decision-making and community-driven innovation.



Another advantage of the Voltaire upgrade is the introduction of a voting system. This will enable stakeholders to have a say in important network changes and upgrades, helping to ensure that the network remains decentralized and community-driven.



What it means for the ADA market price?



The Cardano Voltaire upgrade is expected to have a positive impact on the price of ADA. The upgrade will introduce a number of new features that are designed to make Cardano a more decentralized and sustainable blockchain. This could lead to increased adoption of the platform, which could drive up the demand for ADA.

In addition, the Voltaire upgrade is expected to make it easier for developers to build decentralized applications on Cardano. This could lead to an increase in the number of dApps built on Cardano, which could also increase the demand for ADA.

Overall, the Voltaire upgrade is expected to be a major milestone for Cardano and could lead to increased adoption of the platform. This could make ADA a more valuable asset, which is why the price of ADA is expected to increase after the upgrade.

In fact, we already see some major accumulation of ADA going on. According to this tweet, from twitter user  Ali_Charts, Cardano is seeing a lot of appetite from whales, who have added around 150 million $ADA over the past month.

This is not surprising at all, given that upgrades of such significance, are usually treated as "buy the news, sell the event" kinda strategy by investors and speculators alike.

However, it is important to note that the price of ADA is affected by a number of factors, and the Voltaire upgrade is just one of them. The overall performance of the cryptocurrency market will also have a significant impact on the price of ADA.



 In Conclusion:



The Voltaire upgrade is a major milestone for the Cardano network, as it brings decentralized governance to the platform. This will enable users to have more control over the network, and allow them to participate in decision-making processes. The treasury system introduced in the upgrade will also help to ensure the sustainability of the Cardano network, while the voting system will ensure that the network remains decentralized and secure. The Voltaire upgrade is a significant step forward for the Cardano network, and it is expected to bring numerous benefits to its users in the coming years.



 

⚠️ DISCLAIMER ⚠️



The information contained in this post is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. The content of this video reflect solely my own opinions. Purchasing cryptocurrencies poses considerable risk of losses.



This information is what was found publicly on the internet. This information could have been doctored or misrepresented by the internet. All information is meant for public awareness and contains what is already in the public domain. Please take this information and do your own research.

Cryptocurrencies, particularly Bitcoin, have been around for well-over a decade already and it's safe to say they have reached mass appeal and are now entering their mass-adoption stage. As we turn our back to another bear cycle and making fast steps toward the next super bull-run, we are bound to see even more public interest and attention shift in the direction of Bitcoin and other cryptocurrencies.

On e thing that many new entrants in the crypto space often overlook though, is to learn about the assets that they invest in. As more people become interested in this decentralized digital currency and its potential to revolutionize the financial industry, it's important to educate ourselves on the subject. That's why I recommend watching these 10 movies about Bitcoin, which offer a range of perspectives on the currency and its impact on the world.

Whether you're a seasoned investor or just starting to learn about Bitcoin, these films provide valuable insights into the potential benefits and challenges of this revolutionary technology. By watching these movies, you can gain a better understanding of how Bitcoin is changing the way we think about money and finance, and what the future may hold for this exciting and transformative technology.

(Sidenote) Most of these are freely available on Youtube in their entirety, but for copyright reasons I will not include any links (Binance will not let me do this even if I tried...)

"The Rise and Rise of Bitcoin" (2014) - This was the first documentary I saw about Bitcoin and it follows the journey of a Bitcoin enthusiast named Dan who becomes obsessed with the currency and its potential. The film provides an in-depth look at the history of Bitcoin and its impact on the financial world.

The film provides an in-depth look at the history of Bitcoin, including its origins and early adopters. It also features interviews with prominent figures in the Bitcoin community, such as Charlie Shrem, Gavin Andresen, and Erik Voorhees, who share their insights on the technology's potential and its challenges.

As the film progresses, we see Dan's passion for Bitcoin grow, as he travels to different parts of the world to attend Bitcoin conferences and meet other enthusiasts. We also witness the ups and downs of Bitcoin's value, including the infamous Mt. Gox hack that resulted in the loss of millions of dollars worth of Bitcoin.

Overall, "The Rise and Rise of Bitcoin" offers a compelling and informative look at the rise of this digital currency and its potential impact on the world. It highlights the enthusiasm and optimism of the Bitcoin community, while also acknowledging the challenges and controversies that come with a new and disruptive technology. Whether you're a Bitcoin enthusiast or simply curious about this new form of money, this film is a must-watch.

"Bit x Bit: In Bitcoin We Trust" is a 2018 documentary film that provides an in-depth look into the world of Bitcoin and other cryptocurrencies. The movie delves into the history of Bitcoin, its rise in popularity, and its potential to transform the traditional financial system. Being one of the most recent documentaries on the subject, I would recommend that ahead of the older ones, purely because it takes into account a lot more recent events that play a role into the crypto adoption and mass appeal.

The film features interviews with various experts in the field of Bitcoin, including entrepreneurs, investors, and enthusiasts. They discuss the technical aspects of Bitcoin, its potential to disrupt traditional financial systems, and the various debates and controversies surrounding the cryptocurrency.

One of the unique aspects of "Bit x Bit" is its focus on the intersection between technology and economics. The film examines how Bitcoin uses blockchain technology to create a decentralized financial system, and how this system can potentially provide greater financial freedom and security for individuals.

Throughout the film, we see examples of how Bitcoin is being used around the world, including in countries with unstable or corrupt financial systems. The movie highlights how Bitcoin can provide greater financial inclusion and access for individuals who have been excluded from traditional financial systems.

The film also discusses the challenges and risks associated with Bitcoin, including its volatility and potential for fraud and hacking. It offers insights into the ongoing debates within the Bitcoin community, including discussions around scalability, governance, and regulation.

Overall, "Bit x Bit" is a captivating and informative film that provides a comprehensive overview of Bitcoin and its potential impact on the world. Whether you're a cryptocurrency enthusiast or simply curious about the technology, this film offers a nuanced and informative exploration of this revolutionary new form of currency.

"Banking on Bitcoin" (2016) - a documentary film that explores the rise of Bitcoin as a disruptive force in the financial industry. The movie takes a critical look at the traditional banking system and how Bitcoin's decentralized technology challenges the status quo.

The film features interviews with various experts, including economists, journalists, and Bitcoin entrepreneurs. It provides a historical perspective on the financial crisis of 2008 and how Bitcoin emerged as a potential alternative to the traditional banking system.

"Banking on Bitcoin" also delves into the controversy surrounding the anonymous creator of Bitcoin, known only by the pseudonym Satoshi Nakamoto. The film explores the speculation around his true identity and the potential implications of his anonymity.

One of the central themes of the movie is the potential of Bitcoin to empower individuals and disrupt the existing financial system. It showcases examples of people who have used Bitcoin to circumvent restrictions and regulations in countries with unstable or corrupt governments.

Overall, "Banking on Bitcoin" is an eye-opening and thought-provoking documentary that offers a critical examination of the traditional banking system and the potential of Bitcoin to offer an alternative. It raises important questions about the future of money and finance, and whether Bitcoin and other cryptocurrencies could ultimately replace traditional currencies.

"Bitcoin: The End of Money as We Know It" is a documentary film released in 2015 that explores the rise of Bitcoin, a decentralized digital currency that has the potential to revolutionize the financial industry. The film traces the history of money from the barter system to the gold standard and eventually to the current system of fiat currency, and argues that Bitcoin represents the next evolution in the concept of money.

The film features interviews with experts in the field of economics, finance, and technology who discuss the potential impact of Bitcoin on the world economy. They explain the advantages of Bitcoin, such as its ability to be transferred instantly and securely, its low transaction fees, and its ability to operate independently of government control or interference.

The film also delves into the controversies surrounding Bitcoin, including its association with illegal activities such as money laundering and drug trafficking, as well as its volatility and lack of mainstream adoption.

Overall, "Bitcoin: The End of Money as We Know It" presents a thought-provoking examination of the potential benefits and challenges of Bitcoin, and raises important questions about the future of money and finance in the digital age.

"Bitcoin Heist" (2016) - This Vietnamese action film follows a group of criminals (hackers) who plan a daring heist to steal millions of dollars worth of Bitcoin. The movie features thrilling action sequences, suspenseful plot twists, and a unique portrayal of Bitcoin as the ultimate prize.

The film takes place in the future where Bitcoin has become the dominant form of currency, and a group of hackers and criminals plan to steal 10,000 Bitcoins from a trading floor. To do this, they recruit a team of skilled individuals with unique talents, including a master hacker, a professional thief, and a former cop.

As the team prepares for the heist, they encounter various obstacles and challenges, including rival gangs and unexpected betrayals. The movie is filled with exciting action scenes, including high-speed motorcycle chases and intense gunfights.

One of the unique aspects of "Bitcoin Heist" is its portrayal of Bitcoin as the ultimate prize. The characters view Bitcoin as a new form of power and a symbol of wealth, and their pursuit of it drives the action of the film. This provides a fresh take on the traditional heist movie genre.

Overall, "Bitcoin Heist" is an entertaining and action-packed film that offers a unique portrayal of Bitcoin. While it may not be as informative as other documentaries about the cryptocurrency, it provides a fun and thrilling ride for those interested in Bitcoin and heist movies alike.

"Crypto" (2019) - Although only fictional, this is a great movie to watch for purely entertainment purpose. It's possibly the biggest budget crypto movie out there, a thriller, featuring Kurt Russel and Luke Hemsworth, and explores the intersection of cryptocurrency and crime. The movie follows a young Wall Street banker, Martin, who is sent to a small town in upstate New York to investigate a potential fraud case involving a local businessman and his cryptocurrency mining operation.

As Martin delves deeper into the case, he discovers a complex web of corruption and deceit that threatens to engulf him. He encounters a cast of colorful characters, including a corrupt mayor, a violent Russian gangster, and a local farmer who has turned to cryptocurrency mining to save his family farm.

Throughout the film, "Crypto" highlights the potential dangers and risks associated with the use of cryptocurrency. The film shows how criminals can use Bitcoin and other digital currencies to launder money, buy drugs and weapons, and fund illegal activities.

In addition to its thrilling plot, "Crypto" also provides insights into the technology behind cryptocurrency and its potential to disrupt the traditional banking system. The film examines the benefits and drawbacks of using cryptocurrency, including its potential to provide financial services to the unbanked and its susceptibility to fraud and hacking.

Overall, "Crypto" is a gripping and entertaining film that offers a unique perspective on the intersection of cryptocurrency and crime. While it may not be the most informative documentary about Bitcoin, it provides an engaging and entertaining look at the potential risks and rewards of using digital currencies.

"Trust Machine: The Story of Blockchain" (2018) - This documentary explores the broader implications of blockchain technology, of which Bitcoin is a key component. The film provides an in-depth look at the potential impact of blockchain on industries beyond finance.

"Trust Machine: The Story of Blockchain" is a 2018 documentary film that explores the history and potential of blockchain technology. The movie provides an in-depth look at how blockchain has evolved from its origins in Bitcoin to its current applications in a wide range of industries.

The film features interviews with experts in the blockchain community, including entrepreneurs, investors, and academics. They discuss the technical aspects of blockchain, its potential to disrupt industries like finance and healthcare, and the social implications of a decentralized system.

One of the unique aspects of "Trust Machine" is its focus on the social and political implications of blockchain. The film examines how blockchain can potentially democratize access to financial services and create more equitable systems. It also explores the potential risks associated with the technology, including concerns about privacy and security.

Throughout the film, we see real-world examples of blockchain in action, including its use in supply chain management, voting systems, and even music distribution. These examples provide a tangible demonstration of the potential of blockchain to transform industries and create new opportunities.

 

"Bitcoin: Beyond the Bubble" - a 2018 documentary film that explores the phenomenon of Bitcoin and its impact on the world. The movie offers a comprehensive overview of Bitcoin, its history, and its potential future as a revolutionary new form of currency.

The film features interviews with experts in the field of cryptocurrency, including economists, investors, and Bitcoin enthusiasts. They discuss the technical aspects of Bitcoin, its potential as a decentralized system, and its impact on traditional financial systems.

One of the unique aspects of "Bitcoin: Beyond the Bubble" is its focus on the social and political implications of Bitcoin. The movie examines the potential of Bitcoin to disrupt traditional power structures and create a more equitable global financial system.

Throughout the film, we see examples of how Bitcoin is being used around the world, including in countries with unstable or corrupt financial systems. The movie highlights how Bitcoin can provide financial services to the unbanked and underserved populations, and create new opportunities for economic growth.

The film also discusses the challenges and risks associated with Bitcoin, including its volatility and potential for fraud and hacking. It offers insights into the various debates within the Bitcoin community, including the ongoing discussion around the scalability and governance of the network.

 

"Bitcoin Gospel" (2015) - another early documentary film that explores the emergence and potential of Bitcoin as a decentralized form of currency. The movie provides a comprehensive overview of Bitcoin, its history, and its potential as a revolutionary new financial system.

The film features interviews with various experts in the field of Bitcoin, including economists, entrepreneurs, and enthusiasts. They discuss the technical aspects of Bitcoin, its potential to transform traditional financial systems, and the various debates and controversies surrounding the cryptocurrency.

One of the unique aspects of "Bitcoin Gospel" is its focus on the social and political implications of Bitcoin. The film examines how Bitcoin can provide financial services to the unbanked and underserved populations, and how it can potentially disrupt traditional power structures.

Throughout the film, we see examples of how Bitcoin is being used around the world, including in countries with unstable or corrupt financial systems. The movie highlights how Bitcoin can provide greater financial freedom and security for individuals and communities.

The film also discusses the challenges and risks associated with Bitcoin, including its volatility and potential for fraud and hacking. It offers insights into the ongoing debates within the Bitcoin community, including discussions around scalability and governance.

 

"Magic Money: The Bitcoin Revolution" is a 2017 documentary film that explores the emergence and potential of Bitcoin as a decentralized form of currency. The movie provides a comprehensive overview of Bitcoin, its history, and its potential as a revolutionary new financial system.

The film features interviews with various experts in the field of Bitcoin, including entrepreneurs, investors, and enthusiasts. They discuss the technical aspects of Bitcoin, its potential to transform traditional financial systems, and the various debates and controversies surrounding the cryptocurrency.

One of the unique aspects of "Magic Money" is its focus on the cultural and philosophical implications of Bitcoin. The film examines how Bitcoin challenges traditional notions of money and value, and how it can create a more equitable and decentralized financial system.

Throughout the film, we see examples of how Bitcoin is being used around the world, including in countries with unstable or corrupt financial systems. The movie highlights how Bitcoin can provide greater financial freedom and security for individuals and communities.

The film also discusses the challenges and risks associated with Bitcoin, including its volatility and potential for fraud and hacking. It offers insights into the various debates within the Bitcoin community, including discussions around scalability, governance, and the role of regulation.

 

"Life on Bitcoin" (2014) - This documentary follows the journey of a young couple, Austin and Beccy Craig, who decide to live solely on Bitcoin for three months. The movie explores the practical challenges of using Bitcoin in everyday life and how it affects their relationship.

The film provides an in-depth look at the couple's journey as they navigate the world of Bitcoin, from finding merchants who accept the currency to dealing with the volatility of its value. It also examines the potential benefits of using Bitcoin, including its low transaction fees, its ability to facilitate international transactions, and its potential to provide financial services to the unbanked.

Throughout the film, we see the couple grappling with the challenges of using Bitcoin in the real world. They face unexpected hurdles, such as finding housing and paying for groceries with the digital currency. However, they also discover the potential of Bitcoin to empower individuals and create a more inclusive financial system.

"Life on Bitcoin" also features interviews with experts in the Bitcoin community, who offer insights into the technology's potential and its challenges. They discuss the history of Bitcoin, its potential to disrupt the traditional banking system, and the debates surrounding its regulation.

Overall, "Life on Bitcoin" is an engaging and entertaining documentary that provides a personal perspective on the potential of Bitcoin. It highlights the practical challenges and benefits of using the digital currency, while also offering insights into its potential to transform the financial industry. Whether you're a Bitcoin enthusiast or simply curious about the technology, this film is a must-watch.

 

In conclusion, these movies about Bitcoin and cryptocurrencies are not only entertaining but also highly informative and educational. Each of them provides a unique perspective on the world of Bitcoin, blockchain technology, and the potential impact of cryptocurrencies on our financial system. These films are a must-watch for anyone who is interested in understanding the rapidly evolving world of crypto and blockchain technology. Whether you are a seasoned crypto investor or just getting started, these films will provide valuable insights and deepen your understanding of this revolutionary new technology. So, grab some popcorn, sit back, and enjoy these fascinating and thought-provoking films.

A major airdrop is about to occur tomorrow (23 March) and the crypto community is all buzzing. About 2 million crypto users will have tokens airdropped to them by Arbitrum - a Layer 2 scaling solution for Ethereum, which is making significant strides towards decentralization with the launch of its governance token.

The project will airdrop a governance token with the ticker ARB to its community members on March 23 in a move that marks an important step for Arbitrum in its journey towards complete decentralization. 

However, the event is clouded with controversy by a hacker, who apparently found an exploit and if successful, will cause a large portion of the airdropped tokens to be allocated to his/her own wallet.

Let me explain.

First, about the airdrop.

This is an airdrop of the native Arbitrum token ARB which will be used to govern the Arbitrum One and Nova networks through a self-executing DAO, which will be supported by a security council. Tokens will be distributed to users who have utilized the network over the last year, representing 12.75% of the token's total supply. However, the token will not be used for paying transaction fees on the network.



"The goal of the airdrop and the token is really to give governance power over to the community members and identify the real community members that are active in the chain, are participating and will participate," explained Steven Goldfeder, CEO of Offchain Labs, the maker of Arbitrum, in an interview.



The uniqueness of the transition lies in Arbitrum's form of governance. A self-executing DAO means that governance members will be able to pass protocol upgrades that will automatically be applied on-chain. In doing so, Offchain Labs has gone for a more radical form of decentralization; one that Goldfeder believes is absolutely necessary.

"I think that it's really the only way to decentralize," said Goldfeder. "If it's not self-executing, what it means is the DAO is just a signal, and there are some people with the keys to actually do it, and they could or could not break from the DAO, and it's just that piece of trust. What we want is a decentralized system that doesn't rely on trust in critical places."

Offchain Labs also released Arbitrum Orbit, which allows developers to build Layer 3 networks on top of Arbitrum. The newly formed governance system will be able to approve licenses for other Layer 2 networks that settle on Ethereum using Arbitrum's technology.

The governance token will be native to the Arbitrum One network, but will also be used to govern the Arbitrum Nova network and any other Layer 2 networks that the DAO officially endorses. Offchain Labs worked with crypto data provider Nansen to design the criteria behind who should receive the airdrop, with a focus on rewarding genuine users instead of those who tried to game the system.

You can check your eligibility for this airdrop and all the details about it in their official site: https://docs.arbitrum.foundation/airdrop-eligibility-distribution and here: https://docs.arbitrum.foundation/airdrop-eligibility-distribution#user-airdrop-eligibility-details

This link was provided on their Twitter account some time ago in this tweet: https://twitter.com/arbitrum/status/1636429030223167496

A large portion of the supply — some 42.8% — will go to the Arbitrum Foundation, which will be under the control of the newly formed Arbitrum DAO. Offchain Labs and advisors will receive 27% of the token's supply, while Offchain Labs investors will get 17.5% of the supply. The total supply of tokens is 10 billion.



Airdrop recipients will be able to check their balances from March 23, and they will be able to claim the tokens a week later. The Arbitrum Foundation will approve delegates during this time. Offchain Labs has not communicated with any centralized exchanges to list the Arbitrum token.



In conclusion, the launch of the ARB token is a significant step towards complete decentralization of the Arbitrum One and Nova networks. The self-executing DAO system and the unique governance token offer a level of decentralization that sets Arbitrum apart from other projects. The future looks promising for Arbitrum, with the possibility of approving licenses for other Layer 2 networks using Arbitrum's technology. Overall, this is an exciting development for the Ethereum ecosystem and the broader crypto community.

Now, onto the hacking threat.



Reports have emerged that a bad actor is attempting to hijack the upcoming Arbitrum airdrop by taking advantage of 2,400 compromised crypto wallets. If the plan is successful, the thief could net around 3 million ARB tokens, which amounts to 0.26% of the user airdrop.

The criminal is sending ether to the wallets in question to approve a contract that allows recipients to claim the airdrop. This in itself would not be a problem, but the individual appears to have access to the private keys for the wallets, meaning that they will be able to claim the tokens automatically once the contract is approved.

The scheme was first brought to light by Arkham Intelligence and a post on GitHub. The ARB token will be used to govern the Arbitrum One and Nova networks through a DAO.

What makes this attempt to hijack the airdrop unique is that it is happening on Arbitrum, a layer 2 scaling project. This complicates matters for the affected wallets, as it would not be possible to use Flashbots to gain an advantage in claiming the airdrop first, as might have been the case on the Ethereum blockchain.

It is worth noting that some members of the community have called on Offchain Labs to blacklist the wallets in question in order to prevent the bad actor from getting hold of all the tokens. However, this could have the unintended consequence of stopping legitimate users from being able to claim the tokens too.

At the time of the airdrop announcement, Offchain Labs CEO Steven Goldfeder stated that there would be no changes to the airdrop allocation, and the company has not yet addressed this specific issue. It remains to be seen whether the thief will be successful in their attempt to hijack the airdrop, and what, if any, action will be taken to prevent this from happening.

Cryptocurrencies have taken the world by storm in recent years, with Bitcoin leading the way as the most well-known and widely used digital currency. As the world becomes increasingly digitized, many are wondering how artificial intelligence (AI) will impact the future of cryptocurrencies. In this blog post, we will explore the potential impact of AI on cryptocurrencies and the blockchain.

The use of AI in the crypto space can have significant implications for the development of decentralized applications (dApps) and the efficient processing of blockchain data. The Graph decentralized protocol is one such example of how AI and crypto can be used together to enable more efficient and scalable dApps.

Speed

Artificial intelligence is more than capable of being used effectively in the crypto space. One of the most significant ways that AI will impact cryptocurrencies is through increased efficiency. Currently, transactions on the blockchain can take several minutes to be verified and processed. However, with the use of AI algorithms, these transactions could be processed much faster, potentially reducing the time it takes to complete a transaction from minutes to seconds. This increased efficiency would make cryptocurrencies more appealing to mainstream consumers who are used to fast and convenient payment systems. This can be particularly useful in the context of cryptocurrency trading, where decisions must be made quickly based on a large volume of data, such as price movements, trading volumes, and social media sentiment. AI algorithms can analyse this data in real-time and make informed trading decisions based on patterns and insights.

Security

Another way that AI will impact cryptocurrencies is through improved security. The blockchain is already a highly secure system, but with the addition of AI algorithms, it could become even more secure. AI algorithms could be used to identify potential security breaches and stop them before they occur. Additionally, AI could be used to identify patterns in fraudulent activity and prevent fraudulent transactions from taking place.

With the growing popularity of cryptocurrencies, the risk of fraud is also increasing. AI algorithms can analyse patterns of transactions and identify potentially suspicious and/or fraudulent activity, helping to prevent losses for investors and safeguard the integrity of the blockchain network. 

Mining

The use of AI can also help optimize cryptocurrency mining operations, a very intricate aspect of cryptocurrencies.

Currently, mining requires a significant amount of computational power, which can be expensive and energy-intensive. However, AI algorithms could be used to optimize the mining process. Machine learning algorithms are able to analyse data on energy consumption, hardware performance, and network conditions to improve mining efficiency and reduce costs. This can help make cryptocurrency mining more sustainable and profitable.

These are just a few examples of cryptocurrency projects that are focused on integrating AI technology into their platforms. As the field continues to develop, we can expect to see more projects emerge that aim to combine the power of blockchain and AI to create innovative solutions for a variety of industries.

The Graph decentralized protocol is a promising example of how AI and crypto can be used together to enable more efficient and scalable dApps. The Graph allows developers to build dApps that can efficiently search, process, and analyse blockchain data. It uses a network of nodes that index blockchain data and make it available for querying. These nodes are incentivized to provide high-quality indexing services by receiving The Graph (GRT) tokens as rewards.

The Graph protocol can potentially be used in conjunction with AI technologies to analyse and derive insights from blockchain data. Machine learning algorithms could be used to analyse patterns in transaction data indexed by The Graph, which could be used to identify market trends or predict future price movements. This could enable more efficient and accurate trading decisions, as well as improve fraud detection and prevention. Furthermore, The Graph's decentralized nature makes it highly resilient and secure, as it does not rely on a central authority or third-party service to manage and index blockchain data. This makes it well-suited for use in applications that require high levels of security and transparency.



Another cryptocurrency-based project related to AI is Fetch.ai , a decentralized platform that uses AI and machine learning (ML) technologies to enable autonomous economic agents (AEAs) to perform tasks such as transactions, data sharing, and prediction. The platform aims to provide a decentralized infrastructure for creating, deploying, and managing AEAs, which can be thought of as digital entities that can interact with each other to carry out tasks autonomously.

Fetch.ai is focused on developing practical applications for AEAs in areas such as transportation, supply chain management, and energy management. For example, the platform has developed a pilot project for optimizing transportation routes using AEAs, which aims to reduce congestion and improve efficiency in transportation networks.



SingularityNET (AGIX) is a decentralized AI marketplace that aims to create a global platform for AI developers and users to share resources and collaborate on AI projects. AGIX is the cryptocurrency used to power the SingularityNET platform and I already covered all the key aspects of this project more than a year ago in an episode of my Crypto Corner video podcast, when I placed Singularity on your crypto radar.



DeepBrain Chain (DBC) is another decentralized AI computing platform that aims to provide a low-cost, secure, and scalable infrastructure for AI training and model deployment. The platform uses blockchain technology to create a distributed network of computing resources that can be shared among users and enterprises to perform AI-related tasks.

The DBC platform provides several key features that are designed to support the development and deployment of AI models, including a secure data exchange, a decentralized AI training and inference system, and a distributed AI marketplace. The secure data exchange allows users to share data with each other in a secure and private manner, while the decentralized AI training and inference system enables users to train and deploy AI models on the network. The distributed AI marketplace provides a platform for users to buy and sell AI models and services using DBC tokens.

Overall, these platforms have the potential to transform the AI industry by enabling the development and deployment of AI models in a more efficient, secure, and cost-effective way. By leveraging blockchain technology and decentralized computing resources, these platforms are democratizing access to AI technology and making it more accessible for businesses and individuals.

Numerai is an innovative platform that brings together the worlds of AI, machine learning, and blockchain technology to create a unique approach to investing. In its core, this is a decentralized hedge fund that combines artificial intelligence (AI), machine learning, and blockchain technology to make investment decisions. The platform allows data scientists to create predictive models based on financial data, which is then used by Numerai's trading algorithms to make investment decisions. Numerai's unique approach allows data scientists from all over the world to participate in creating models, as the data is encrypted and anonymized to protect users' privacy.

One of the key advantages of Numerai is that it allows for a decentralized approach to investing, as opposed to traditional hedge funds that are managed by a centralized team of analysts. This decentralized approach allows for greater transparency and accountability, as anyone can participate and contribute to the platform.

Cortex(CTXC) is a decentralized artificial intelligence (AI) platform that allows developers to create and deploy AI-powered applications on the blockchain. Cortex uses AI to create intelligent contracts that can execute complex tasks, making it easier for developers to create decentralized applications with advanced features.

One of the key features of Cortex is its ability to support multiple AI algorithms, making it a versatile platform for a wide range of applications. Cortex's AI engine supports popular algorithms such as neural networks, decision trees, and support vector machines, as well as custom algorithms created by developers.  Cortex's platform also includes a smart contract compiler that allows developers to write AI-powered smart contracts in a variety of programming languages. The smart contracts are then compiled into the blockchain, making them immutable and tamper-proof.  Cortex also has its own cryptocurrency, CTXC, which is used as a means of payment for computational resources on the platform. Developers can use CTXC to pay for AI resources such as training data, computational power, and data storage. By supporting multiple AI algorithms and providing a versatile platform for developers, Cortex is helping to drive innovation in the field of AI and blockchain technology.

Barriers for AI

There are several barriers to entry for AI in the cryptocurrency space that can make it challenging for new entrants to develop and deploy AI applications. One major challenge is the quality of data available in the cryptocurrency space. While AI models rely on high-quality data to generate accurate predictions and insights, the quality of data in the cryptocurrency space can be variable. This is because cryptocurrency data is often unstructured and subject to manipulation, which can make it difficult to develop accurate and reliable AI models.

Another barrier to entry is limited adoption. While there is growing interest in using AI in the cryptocurrency space, adoption is still relatively limited. This can make it difficult for new entrants to gain traction and build a user base for their AI applications. Additionally, developing and deploying AI models requires specialized technical expertise in machine learning algorithms, data processing, and programming languages. This can be a barrier for those who do not have a background in these areas.

Regulatory uncertainty is another challenge that can make it difficult for new entrants to develop and deploy AI applications in the cryptocurrency space. The cryptocurrency space is still relatively unregulated, and there is a degree of uncertainty around how regulations will evolve in the future. This can create uncertainty for those developing AI applications in the cryptocurrency space, as they may not know how their applications will be affected by future regulations.

Addressing these challenges will require a combination of technical expertise, regulatory clarity, and trust-building measures to ensure that users feel comfortable using AI applications in the cryptocurrency space.



According to a report by Grand View Research, the global artificial intelligence market size was valued at USD 62.35 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 40.2% from 2021 to 2028. By 2028, the AI market size is projected to reach USD 997.77 billion.

Another report by ResearchAndMarkets projects that the global AI market will grow at a CAGR of 42.2% from 2021 to 2026, with the market size expected to reach USD 309.6 billion by 2026.

These statistics demonstrate the significant growth potential of the AI industry in the next five years. With advancements in technology and increased adoption across various industries, AI is poised to continue its rapid growth and transformational impact on society.

#USDC

USDC coin today lost its peg to the dollar amidst rumours of insolvency following the collapse of another bank - this time it's the Silicon Valley Bank, which had ties to crypto. It's the second crypto-centric bank to go bust this week and this time, the effects are significant, especially to the Circle-issued USDC coin.



At the time of writing, its value has dropped to $0.90 - all in the matter of just hours.



Whales are feeling the burn too. Justin Sun of Tron apparently took out 81 million USDC earlier today - it's not clear which currency he will exchange it to, but the value of this is already down to $75 Million - that's around $6 million loss.



Another huge loss was reported by twitter user @BowTiedPickle who posted this Twitter Thread about a DeFi user losing $2,000,000 worth of USDC as he/she tried to swap it for USDT. In the rush to convert it on the KyberSwap aggregator, the user most likely forgot to set the slippage correctly and this resulted in a total meltdown, liquidity crisis, so in the end, the user received exactly 0.05 USDT for the 2 million USDC they tried to exchange.



Ouch. 



So far the rumours about USDC being insolvent are not confirmed and many speculate that Circle will be able to make it out alive, without going into a complete wipe out or collapse, but most crypto users are too afraid to take any risks. This will put even more selling pressure, possibly leading to the inevitable UST-style depeg over the coming days. 



Anything is possible and after a very positive January and somewhat decent February, we are now seeing the pain returning in March. Most likely this will not be the end of it, I will of course keep you up to date with the latest news and developments in the cryptoverse. Make sure you follow ;)  



 

Every year on 3rd January we celebrate the birthday of Bitcoin - the world's first and most robust cryptocurrency and blockchain network that spans millions of nodes and users and has become the most important innovation of this century.

Back in 2008, on 31 October, an anonymous person/group known as Satoshi Nakamoto published a white paper titled: "Bitcoin: A Peer-to-Peer Electronic Cash System". It was posted to a cryptography mailing list and outlined methods of using a peer-to-peer network to generate what was described as "a system for electronic transactions without relying on trust". 

On 3 January 2009, the bitcoin network came into existence with Satoshi Nakamoto mining the genesis block of bitcoin (block number 0), which had a reward of 50 BTC.  Embedded in the genesis block was the text:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

The text refers to a headline in The Times published on 3 January 2009. This note has been interpreted as both a timestamp of the genesis date and a derisive comment on the instability caused by fractional-reserve banking. 

13 years later, here we are, on the brink of another economic collapse worldwide. Excessive printing of money throughout the 2 year-long pandemic has led to huge inflation numbers across the globe, with increasing interest rates that aimed to curb inflation and we're still failing at slowing down.

2023 has just started, but it will surely present us with new challenges and economies will continue to struggle. Bitcoin will continue to deliver unstoppable, censorship-resistant and decentralized monetary alternative to anyone who chooses to take full ownership of their capital and hopefully more people will embrace it, ultimately leading to Hyperbitcoinization.

Hyperbitcoinization is a term that refers to the hypothetical future scenario in which Bitcoin becomes the dominant form of currency worldwide. This would mean that Bitcoin would be used for all transactions, both online and offline, and would effectively replace traditional fiat currencies like the US dollar, euro, and yen.

There are a number of factors that could potentially lead to hyperbitcoinization, including:

Increased adoption: As more and more people and businesses begin using Bitcoin, it could eventually reach a critical mass where it becomes the de facto standard for transactions.

Decentralization: One of the key features of Bitcoin is its decentralized nature, which means that it is not controlled by any single entity like a government or central bank. This could make it more appealing to users who value financial independence and privacy.

Store of value: Some people see Bitcoin as a store of value, similar to gold, due to its limited supply and the fact that it is not subject to inflation. If more people start using Bitcoin as a way to preserve wealth, it could increase its adoption and use as a currency.

Trust in traditional currencies: If people lose faith in traditional fiat currencies due to economic instability or other factors, they may turn to Bitcoin as an alternative.

While hyperbitcoinization is still a long way off and may never happen, it is an interesting concept to consider. If Bitcoin were to become the dominant currency, it would have far-reaching implications for the global economy and financial system. For example, it could potentially disrupt the traditional banking system and change the way that monetary policy is conducted.

In times of economic instability, such as the current situation, the demand for safe haven assets like Bitcoin tends to increase. This is because people are seeking ways to protect their wealth from the negative effects of inflation and financial uncertainty. Despite being in a bear market, with my analysis predicting that it will continue for a few more months, ultimately, 2023 will see a rise in the value of Bitcoin and other cryptocurrencies. Historically, buying Bitcoin during a bear market, like we have now, has been the most profitable tactic.

While the current economic collapse has had negative impacts on many people and industries, it has also created an opportunity for the adoption of alternative assets like Bitcoin. As more people become aware of the benefits of Bitcoin and other cryptocurrencies, it is likely that they will increasingly be seen as a viable option for wealth preservation and transfer.

With that said, I hope you are ready for accumulation during the market bottom (which is where we are already).

I know I am.

As the year rolls out, I decided to recap the events that left a mark on all of us crypto users, investors, traders, developers and all-round cryptonians. 

Overall, 2022 proved to be a really tough year for crypto. Possibly the worst bear market we've experienced to date. Let's recap the events that shaped the year and you can judge for yourself, whether this was indeed the worst. I will compare it to the 2014 bear market, which up to this moment, holds the title of the worst bear cycle in crypto history. Let's see how did we fair...

Bitcoin (BTC) began 2022 with a market valuation of around $42,400 and ends the year around $16,500 - a drop of approx. -65%

Ethereum (ETH) started the year with a price tag around $3700 and wraps up the year around $1200 - a drop of approx. -68%

Unlike previous bear markets, some altcoins, like TRX, LTC, Doge, XRP and BNB have outperformed the two giants of crypto and printed lesser drops in value. It is worth noting that LTC, XRP and TRX did not perform too well throughout the bull run that preceded, so this has to be taken into account - the higher the pop, the bigger the drop. BNB is the obvious exception here, as it performed spectacularly well in the bull market and preserved its value the best out of the top 10, despite the recent backlash and fud surrounding Binance that is still ongoing.

Year Review Month-by-Month:

January

Riding the hopium of the bull run of the previous year, El Salvador President makes a bold prediction for Bitcoin to reach $100,000 in 2022.

Opensea, the biggest NFT marketplace raises $300 M in series C funding - later on, NFTs sales will drop significantly, but at the start of the year, they are still hot property.

SHIBA INU is the most accumulated token by Ethereum Whales for reasons beyond anyone's guess.

Bank Of America claims that Solana could become the "visa" of the crypt ecosystem, rivalling Ethereum. Later in the year, Solana will drop out of the top 10 ranking and prove to be nothing more than hype.

A 22-year old Indonesian boy makes a million dollars selling NFTs of his selfies on opensea.

Mozilla stops accepting crypto, the bear market chills begin.

February

Cardano outperforms other major competitors in volume, sees 11% increase in block size. Kraken positions it ahead of Ethereum.

Retail investors are still bullish, buying every dip. This will soon come back to bite them as crypto winter gets worse.

North Korea continues to steal crypto through various hacks in order to subsidize its nuclear weapon programme.

BlockFi settles with the SEC for $100 million over its high-yield lending product. This marks the beginning of the end for the crypto lender.

Ethereum outperforms Bitcoin in the run up to its major upgrade, everyone gets excited about the "Flippening" which, just like every other time before, fails to materialize.

The Superbow features uber-expensive ads by top crypto comapnies: Coinbase, FTX exchange and Crypto .com - mainstream media draws parallels to Pets. com and other dotcom epic fails.

RBI talks about banning crypto in an attempt to curb interest and push forward its own digital rupee.

Russia begins advances toward Ukraine, starts a full-blown invasion. Crypto market responds with a significant drop.

Russia is outed to be using crypto ransomware and money laundering along with China.

March

Crypto is being used for donations to Ukraine and by Russia to bypass sanctions.

Ebay rumoured to add crypto payments by March 10. It didn't happen.

Metamask is reported to be blocking IPs in Iran and Russia in compliance with US sanctions. Users are outraged.

EU considers banning BTC mining. This doesn't get the vote, but they implement KYC on all exchanges, including on money coming in from cold wallets.

Bored Apes Yacht Club launches Apecoin.

Canadian government stops protestors from cashing out their crypto.

Thailand bans crypto payments.

BOE starts warming up citizens for its CBDC and outlines framework for regulating crypto.

Ripple co-founder Chris Larsen angers the crypto community with a proposal to change the Bitcoin code to POS - joins Greenpeace campaign called "Change the Code, Not the Environment".

Ronin, the blockchain network that runs the popular nonfungible token (NFT) crypto game Axie Infinity, is hacked for $625 million - the first of a series of big crypto crashes of the year.

April

Elon Musk considers buying Twitter after acquiring a large stake but is rejected as a board member. He later backtracks from the deal, but is forced into it by the courts. As a result, Dogecoin makes another minor pump but is very short-lived.

Binance commits half a billion USD to Elon's twitter bid.

May

On May 7, over $2 billion worth of Terra's UST tokens is unstaked and hundreds of millions of dollars are quickly liquidated.

UST was an algorithmic stablecoin backed by Terra's token Luna and as it loses its peg to the dollar causes a collapse of Luna which drops by 98% in a day and investors lose big. For a moment it seems this will be the worst crypto crash of the year. Sadly, it's only the first and there's a lot more to come.

Warren Buffest makes another dig at Bitcoin, says he wouldn't pay even $25 for all the bitcoin in the world.

Cardano adds over 2000 new wallets daily in just one month, despite market volatility. Its network activity becomes second to Bitcoin.

Central African Republic Adopts bitcoin as legal tender.

The Merge (Ethereum's biggest upgrade) is scheduled for August.

Impatient investors are asking has Bitcoin found a bottom yet... they will later find out that a bear market takes well-over a year.

June

New York state passes a Bitcoin mining moratorium on the back of the heated media fud about excessive energy consumption. Bitcoin analysts point out that the network uses less than 1% of the world's energy.

New York appoints a new mayor who is an avid crypto proponent.

Solana suffers another network outage - proves to be unreliable and very much centralized.

Market sees a short term relief rally, Bitcoin breaks above $31k fuelling a wave of hopium for the end of the bear market. Unfortunately, this remains only a short term rally.

Paypal enables crypto withdrawals to external addresses in the US for the first time.

Cardano appears as the most held crypto in a bear market

Bitcoin crashes again, hits an 18-month low amidst high inflation and the biggest interest rates hike by the Federal Reserve in 28 years.

Litecoin adds a privacy feature, gets delisted from exchanges in South Korea.

Crypto Hedge Fund Three Arrows Capital suffers from the Terra Luna collapse and lines up for liquidation. Becomes the second big crypto collapse of this bear market.

Soon after, Celsius, one of the biggest CeFi lending services finds itself in a liquidity crisis, fails to resolve the issue and becomes the next in line to file for bankruptcy.

July

Crypto investors continue being hammered. On July 6, prominent cryptocurrency investment firm Voyager Digital files for bankruptcy after 3AC defaulted on a $650 million loan. It's a chain reaction going back to Terra Luna, but the worst is yet to come...

Following 3AC liquidation, Blockfi becomes insolvent but is bailed out by FTX.. for a short while.

Crypto winter temperatures drop to freezing levels, "Experts" start talking about $10,000 Bitcoin price tag.

August

Developer of opensource coin-mixer Tornado Cash is arrested in Holland upon charges of facilitating money laundering.

EOS undergoes a rebranding and gives investors new hope of revival.

Ethereum implements its biggest upgrade The Merge, becomes deflationary token, and moves to a POS mining mechanism.

Cardano implements Vasil hard fork successfully.

Colombia announces its own CBDC

September

Ethereum miners censor Tornado Cash transactions raising concerns of centralisation. To make things worse, it comes out that 42% of POS nodes are being controlled by just 2 addresses.

October

Bitcoin mining difficulty reaches ATH, profitability drops, some miners capitulate.

The UK FCA warns consumers about FTX exchange but nobody pays attention.

Opensea daily volume hits a 15-month low indicating that NFTs have lost their mass appeal.

November

By far the biggest collapse of the year - FTX exchange files for bankruptcy following a series of events, involving Binance sell-off of FTT token reserves and a very public spat on Twitter. CZ reveals shady operations of FTX key operators behind the scenes. The fifth and biggest crash of the year.

This affects several other crypto companies that have been acquired by FTX, mainly Blockfi, which goes into liquidation too. With assets and liabilities ranging from $1 billion to $10 billion, Blockfi had over 100k creditors. In addition they had a $275 M debt to FTX. The application shows that the largest client had a balance of $28 million - imagine keeping such a huge amount with a third party custodian. Not your keys, not your crypto - remember this.

December

The saga of FTX is still the topic du jour. This creates a mass exodus from exchanges, customers fear for their funds and every big exchange, from Coinbase and Crypto.com, to Kucoin and Binance are all rumoured to be next in line to crash down.

Proof of reserves (POR) becomes a popular new concept, but the regulators are not satisfied. The door is wide open for new regulatory bills to come into effect soon. Investors are left with cold feet, appetite for crypto is at its lowest. Fear is still ruling the market sentiment, the year ends on a low note. 

 

In comparison, the 2014 Bear Market, which is considered to be the worst to date, had one really bad month - February, when is was all doom and gloom - it all came crashing down in just one month that seemed like crypto will be obliterated. First, Apple bans all crypto related apps on its platform, then Silk Road 2.0 gets hacked and more than 4000 BTC is stolen from there and to finish it off, Mt.Gox, the exchange where almost all of crypto trading was being conducted, falls apart, with more than 750,000 Bitcoin going missing - at the time, this amounts to about $400 M - I know, the amount is far greater today, but at the time, that's less than a billion dollars, while this year we lost well over 4 billion dollars from Three Arrows, Voyager Digital, Terra Luna, Celsius and FTX combined. The losses are greater and the users who suffered are greater in numbers too.

From where I'm standing, I could safely conclude that this year presented far more challenges and capitulation than 2014, and if you are still standing, if you survived the crypto massacre this year, you are deservingly a crypto OG in my opinion.

You just survived the worst.

You are now more experienced, more knowledgeable and better equipped for what is coming next.

At least, I can say that the worst is behind us. Yes, we can still see some more bumps on the road ahead, perhaps regulation will kick-in from next year and we might see more restrictions for crypto usage, perhaps another exchange will come crashing down, or hackers might target some of the bigger platforms, but if you've learnt your lesson from this year, you will not be keeping your coins on exchanges for longer than a couple of days, you will be using self-custodial wallets, avoid the lenders and third party miners or traders and all those "done-for-you" schemes, and you will rely on your own skills whether it be for trading or simply investing. You will be able to re-enter the market on the low end. We are still bottoming out and there's plenty of time. 2023 will give us more buying opportunities, and you will be able to reap the rewards during the next bull run, which I expect to begin toward the end of 2023 and beginning of 2024. I will of course, be with you along the way, I will keep posting valuable crypto content, from market analysis and price updates, to the latest news and charts that you need to pay attention to. So here we are my friends, we finish off this year with a few bruises, some more than others, but if you've been following this channel for a while, you know I've been saying all along - Don't hold altcoins in a bear market, they get slammed hard. Most are already at 80-90% negative, some are 99% negative - if you're holding any crypto at all, during a bear market, I hope it is Bitcoin and maybe Ethereum, but anything else is a huge gamble and I hope it pays off. I exited at the start of the year and have been doing only short term trades all year round. I hope my price projections have helped and will continue to help you to be a better, more successful trader.

Happy new year and see you in 2023!

OJ Jordan

https://allmylinks.com/busyjordy

 

HODL is probably the most famous and exclusively crypto slang, that made it to the mainstream. It literally means "holding" your crypto, i.e. "not selling".

In recent days it has been appropriated as an acronym for Hold On for Dear Life but in fact, it was born out of a simple mistake. Here's what actually happened...

Back in 2013 a user on the popular Bitcointalk forum was venting out his frustration about being a bad trader, and how he is now holding, because he missed his chance to sell before a massive crash in Bitcoin's price (one of many to come). Being a little drunk, the user known as GameKyuubi, miss-spelled "Holding" in the title of his post and the bitcoin community quickly picked it up, turning it into a meme. The term went viral and the rest is history.

We know that this was a genuine mistake, since the user did not use the term again in his actual post, but rather, spelt it correctly the second time around. He also admitted to be having some whiskey, which funny enough, he noticed was spelled differently on the bottle... Thus any speculation about the term being anything more than a simple misspell, is grossly exaggerated.

The post came at a time of a very bad Bitcoin crash from the then ATH of nearly $1200 all the way down to below $400 levels, a drop of more than 67% and it was the only post that brought a bit of fun to the community during those dark days, so it comes as no surprise that it made an impact and thus, a new slang was born. Today we see it used pretty much everywhere, even making its way into the US congress a few years back.

This is the link to the original post and you can have a ball with the comments too.

https://bitcointalk.org/index.php?topic=375643.0

It's really a historical post that we now celebrate every year on this day (18-December).