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Cryptocurrency and NFTs: future economy or iffy investment?

If you‘re one of the few who have not heard of cryptocurrency or NFT’s, dont feel left out.　　Many are just now hearing about this new-fangled stock market and how it‘s made some people rich. It’s nearly impossible to browse social media now without seeing someone promoting a new cryptocurrency or NFT collection.　　So, what is it？ Cryptocurrency is basically a digital currency that fluctuates in a virtual stock market. People can convert their real money into a virtual form and use it to buy things or invest it in different online markets.　　It‘s called cryptocurrency because all of its funds are encrypted, meaning it’s more secure. Since crypto is in its own private market, all of its trading is disconnected from banks and governments, making it a very unique form of payment.　　The most popular form of cryptocurrency is Bitcoin. Bitcoin was the first cryptocurrency ever created and made many people into millionaires. Early bitcoin investors saw its market price skyrocket once it started gaining traction. Some bought one bitcoin for one dollar in 2011, whereas one bitcoin is worth about $37,000 now.　　Many other cryptocurrencies are trying to mimic that Bitcoin boom. Ethereum is another form of crypto that has been taking off

2022-01-30Deep Dive

Bitcoin price: How much and why has the cryptocurrency gone down?

Bitcoin price has been declining since November. During the last week, the cryptocurrencys also declined and reports say it was caused by the new US regulation of digital assets.　　Todays price of Bitcoin is 50% below its November high. From $69,000 in November, Bitcoin crushed its price value to $32,951 last week.　　Diverse cryptocurrencies have lost considerable value. For example, Ethereum, common crypto used by NFT collectors is at its lowest point since July.　　Ethreum dropped almost $1,000 in value in January.Main reasons　　The Biden administration is trying to develop a strategy to regulate cryptos due to national security challenges posed by Bitcoin.　　The Federal Government actions began a massive campaign for traders to sell their Bitcoin holdings.　　The Bitcoin prices are also affected by US Federal Reserves policy changes.　　Jerome Powell, Federal Reserve Chair, said the Federal Open Market Committee will increase the double monthly rate, reducing asset purchases.　　The Federal Reserve took those measures to control inflation and the negative impact on the prices of Bitcoin.　　Also, geopolitical conflicts can alter the market in negative ways. Also, geopolitical conflicts can alter the market in negative ways. Ukraine and Russia are accumulating vast tensions worldwide.　　Alexander Mamasidiov, co-founder of the mobile digital bank MinePlex, told The Independent “many investors

2022-01-30Deep Dive

Will Crypto Mining Survive Another Government Crackdown?…

Crypto mining has been an environmental issue that cant be over looked; World governments have tried to put a lid on it but still have an uphill battle as the popularity of crypto grows.　　Will crypto be mining be able to last if the technology still impacts the earth on high levels ？ Or will it mold with the time and adapt with the land before governments continue to attack Crypto currency.Crypto War With Mining …　　China has been in the for front of crypto bans and the war between the two parties only grows and gets more harsh. China slapped a ban on Bitcoin (BTC) mining, trading and crypto services,The Chinese governments given reason for the Bitcoin crackdown is to reduce its well-documented climate impact. A-lot speculation on other to follow such as turkey and India but one thing we know is china is a huge influencer impact on the way some countries operate to have them ban this is only going to inspire more to follow.　　The problem with crypto mining is the carbon footprint it leaves on this planet and how it impacting the natural resources we have left.Currently, less than one-third of global electric power is sourced from renewables.

2022-01-30Deep Dive

Banks providing crypto services to double in 2022, study suggests

In light of the increasing use of cryptocurrencies throughout the globe, the number of banks offering crypto-related services is continuing to expand.　　Indeed, the number of banks that provide crypto products and services is predicted to more than double by the end of 2022, according to a study published on January 29, 2022, by American Banker featuring predictions from 153 senior banking executives from regional and global financial institutions.　　The survey‘s findings indicate that 44% of banking executives anticipate offering some type of crypto assistance to customers by the end of this year. Whatsmore, a third of financial managers anticipate actively managing their clients’ cryptocurrency portfolios, compared to just 13% who already do so.　　“Two out of 10 financial advisors currently advise clients on crypto holdings but that percent is expected to double by the end of 2022,” the study revealed.　　Crypto holdings 2022 Prediction. Source: Arizent Research　　Clients expected to grow their crypto holdings　　Aside from that, 60% of wealth management advisers believe that their customers would grow their crypto holdings or begin investing in such digital assets by 2022, according to the report.　　Percentage of clients who own crypto 2022 Prediction. Source: Arizent Research　　According to the findings, banking executives predict that this years emphasis would

2022-01-30Deep Dive

Bitcoin Carbon Emission 50 Times Lower Than That of Aviation: Coinshares

Bitcoin (BTC) is routinely slammed for high electricity consumption and a monstrous carbon footprint. But should we still listen to these tirades in 2022？　　Bitcoin, aviation, gold or tumble dryers: Which is better for environment？　　According to the latest Bitcoin Mining Network report by digital assets management veterans Coinshares, Bitcoins (BTC) effect on climate change is heavily overestimated if we compare it to some industries—let alone some nation-states.　　To start with, all Bitcoin (BTC) miners on Earth combined only utilize 0.05% of global electricity consumption. Bitcoiners are responsible for 89 TWh, while the worlds population consumes 162,194 TWh.　　When it comes to carbon footprints (calculated as tons of carbon dioxide emitted by this or that industry in 12 months), Bitcoin (BTC) mining cannot even compete with some segments.　　Namely, it emits 50x less CO2 than aviation, 25 times less than air conditioners and half as much as the data center segment does. Even the tumble dryers of the world emit 12% more CO2 than Bitcoin (BTC) miners.　　Bitcoin has all the chances to completely offset its carbon footprint　　Since Bitcoin (BTC) is often compared to digital gold, it is interesting to admit that the gold mining industry is three times more dangerous for the environment than Bitcoin

2022-01-30Deep Dive

Nobel Laureate Paul Krugman Likens Crypto Market to Subprime Mortgage Crash

Nobel Prize-winning economist Paul Krugman sees parallels between the crypto market and the subprime mortgage crash. “There‘s growing evidence that the risks of crypto are falling disproportionately on people who don’t know what they are getting into and are poorly positioned to handle the downside,” he stressed.　　Nobel Laureate Paul Krugman Warns About Crypto Crashing Like Subprime Mortgage　　Nobel laureate Paul Krugman warned about cryptocurrency investing in an opinion piece he authored in the New York Times, published Thursday. Krugman won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2008 “for his analysis of trade patterns and location of economic activity,” the Nobel Prize website shows.　　The Nobel Prize winner began by acknowledging that “crypto has become a pretty big asset class,” noting that the market value of all cryptocurrencies reached almost $3 trillion last fall. He added that the prices of cryptocurrencies have crashed, “wiping out around $1.3 trillion in market capitalization.”　　However, Krugman believes that “crypto doesn‘t threaten the financial system,” citing that “the numbers aren’t big enough to do that.”　　Nonetheless, the economist warned that “There are disturbing echoes of the subprime crash 15 years ago,” elaborating:I‘m seeing uncomfortable parallels with the subprime crisis of the 2000s

2022-01-30Deep Dive

DeFi Wallet Ambire Gains Momentum, Launches WALLET Token on Huobi Primelist

Ambire Wallet is a new-generation, non-custodial and open-source smart wallet that offers its users easy access to DeFi, enhanced user experience and a focus on security. The Ambire Wallet was released in December and currently has more than 45,000 accounts holding over $22 million worth of assets in their wallets.　　Ambire Wallet will be governed by its own governance token called WALLET. Early users of the wallet are already accruing WALLET as airdrop rewards based on the amount of funds they are holding in their wallets. The token will become claimable shortly after its public release.　　A total of 0.6% of the token supply is launching on January 29, 2022, exclusively on Huobi, one of the worlds major digital asset exchanges. The token will be offered during a Primelist event on the Huobi platform.　　Starting at 20:00 (UTC+8) on January 29, 2022, Huobi users will be eligible for an allocation at the opening price if they lock in and trade assets for allotted tickets during the event period. Other users not participating in Primelist can also purchase WALLET tokens on Huobi Global after the listing.　　Among Ambire Wallets features are batching transactions and simplifying protocol approvals to avoid unnecessary transaction fees, gas management automation,

2022-01-29Deep Dive

Solana Based DeFi Land Announces Revenue-Generating Gen-Zero NFT Seed Sale

Blockchain gaming-oriented investors continue to take an interest in projects that combine decentralized finance with gaming in a GameFi effort. DeFi Land is one such project, as it provides an agricultural game setting where various aspects of decentralized become gamified. While players can earn money by playing the game, DeFi Land serves as an educational platform for newcomers to decentralized finance.　　DeFi Land now enters a new chapter by introducing the DeFi Land seeds, which are NFTs on the Solana blockchain. The gen-zero NFT launch – split into two phases – is the first chance for players to earn core NFTs necessary to unlock the ecosystems play-to-earn functionality, coming in late Q1 2022.　　As such, these core NFTs are both collectibles and gain utility as they provide access to various mini-games to be played in the DeFi Land ecosystem.　　Every core NFT pairs with one mini-game, ensuring players only require one NFT to begin earning. It is a solid way to democratize access to the play-to-earn features of DeFi Land. Additionally, every NFT has its own rarity and specific attribute to help holders unlock greater rewards and more income. Moreover, the core NFTs have three or more attributes giving a distinct advantage in

2022-01-29Deep Dive

Video-Sharing Giant YouTube Says Its Ready To Embrace This Sector of the Crypto Market

A top executive at YouTube is unveiling the video-sharing giants plans to adopt elements of Web3 into its platform.　　In a new company blog post, YouTube CEO Susan Wojcicki says that non-fungible tokens (NFTs) and decentralized autonomous organizations (DAOs) are areas of strong interest to the flagship video-sharing website.　　Were looking further ahead to the future and have been following everything happening in Web3 as a source of inspiration to continue innovating on YouTube.　　The past year in the world of crypto, non-fungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans.　　Were always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube.　　By moving into the NFT space, the video-hosting behemoth would be following in the footsteps of other social media giants such as Twitter and Reddit, which both recently launched test versions of a feature that lets users set NFTs as their profile pictures.　　Wojcicki‘s announcement comes on the heels of YouTube’s parent company Google forming a unit dedicated to researching blockchains and other technologies centered around crypto

2022-01-29Deep Dive

Arizona Bill Aims to Make Bitcoin Legal Tender

Key Takeaways　　A bill recently put forward in Arizona aims to turn Bitcoin into a form of legal tender within the state.　　The bill is unlikely to succeed, as the U.S. constitution seemingly prevents states from declaring assets legal tender.　　The bill was put forward by Senator Wendy Rogers, a politician recently placed at the top of an extremist rhetoric list.　　An Arizona senator has put forward a bill that aims to turn Bitcoin into legal tender in the state.　　Bill Intends to Amend Arizona Statues　　The one-page filing, numbered SB1341, would amend Arizona Revised Statutes to include Bitcoin as a form of legal tender.　　The filing mentions Bitcoin specifically without referring to other cryptocurrencies, calling it the “decentralized peer-to-peer digital currency…maintained on the Bitcoin blockchain.”　　It also draws attention to Bitcoin mining, noting that “new units … are generated by the computational solution of mathematical problems” and notes that Bitcoin works apart from central banks.　　In the section of the amendment listing types of legal tender, Bitcoin is listed fourth. Existing types of legal tender include any medium of exchange authorized for debt payments, coins issued by the government, and other types of coins with precious metal content.　　Bill Unlikely to Succeed　　Some have suggested that the bill is

2022-01-29Deep Dive
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