Up to 12 Million Iranians Own Cryptocurrency, Traders Choose Local Exchanges

Cryptocurrencies are a popular investment among Iranians and estimates suggest that the number of those who already own one coin or another may be as high as 12 million. The majority of Iranian traders prefer the services of local crypto exchanges, the chief executive of one of them claims.

Iranians Said to Transfer $180 Million in Crypto Daily

Despite the lack of proper rules for most of the crypto space and the government stance on the matter, a growing number of Iranians have been investing in decentralized digital money over the past months and years. “An estimated seven to 12 million Iranians own cryptocurrencies,” according to Hamed Mirzaei, CEO of Bitestan, one of the country’s crypto exchanges.

“Iranians’ daily crypto transactions is estimated between 30 and 50 trillion rials ($181 million), while there is no regulation over trade in cryptocurrencies,” Mirzaei was recently quoted as saying by Peyvast magazine. According to a report by the English-language business portal Financial Tribune, the executive also pointed out:

More than 88% of the deals are conducted via local exchange platforms.

This amount, Mirzaei elaborated, is higher than the total of all capital market transactions in the Islamic Republic. “An estimated seven to 12 million Iranians own cryptocurrencies,” the blockchain entrepreneur also revealed to Iranian media.

Mirzaei’s comments come after earlier this year Iranian officials voiced concerns over crypto assets attracting capital from traditional markets. In early May, digital coin trading platforms were accused of taking advantage of the volatile state of the stock market, where deals had seen a significant decline since last summer. At the time, the Central Bank of Iran (CBI) advised Iranians to avoid cryptocurrency, warning them that these investments would be at their own risk.

Later that month, the parliament’s leadership asked the National Tax Administration to profile the owners of Iranian cryptocurrency exchanges and report back. The Speaker of the Majlis, Mohammad Baqer Qalibaf, stated that imposing a ban on crypto trade is not enough and called on the CBI to develop precise regulations for the sector. In July, members of the Islamic Consultative Assembly proposed a bill aimed at adopting rules for the exchange market.

Restrictions on crypto trading would deprive Iran of opportunities, Iranian fintech companies warned this year, expressing their opposition to government attempts to curb the operations of crypto exchanges. In April, the CBI authorized domestic banks and money exchangers to use locally mined cryptocurrencies to pay for imports but authorities went after other coin trade. The startups insisted crypto trading is not illegal and called on lawmakers and regulators to adopt rules allowing the sanctioned country to continue to benefit from decentralized money transfers.

Do you think Iranian authorities will change their stance on cryptocurrency exchange and investment? Share your expectations in the comments section below.

via Lubomir Tassev

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BIA Dinner: Alchemy Pay CEO John Tan Celebrates Milestones of 150 Key Nodes and 200K Supporters

Some of the premier figures in crypto gathered at the Waldorf Astoria, Shanghai on October 27th, 2021, to celebrate a new alliance with a mission to advance the blockchain industry. The Blockchain Infrastructure Alliance (BIA) was inaugurated with a dinner hosted by the crypto-fiat payment network, Alchemy Pay, alongside co-hosts Polygon Network, NEAR Protocol, Draper Dragon, and Bit.Store. The event was graced by the presence of over a hundred celebrities and leaders of the industry, including Tencent, Alipay, Mastercard, Binance, Huobi, OKEx, Polygon, NEAR, NEO and many others.

At the dinner, John Tan, the CEO of Alchemy Pay, gave an opening speech on behalf of Alchemy Pay and took the opportunity to present the company’s ecosystem as well as remark on the outlook for BIA.

Tan showed just how much Alchemy Pay’s network had developed. After two years of rapid expansion, the Alchemy Pay ecosystem now boasts more than 150 core nodes, including banks, merchant networks, DeFi protocols, exchanges, remittance partners, and others.

Alchemy Pay’s business scope currently covers more than 200 payment channels in over than 60 countries and regions around the world.

During the third quarter of last year, Alchemy Pay’s utility token, ACH, was listed on Huobi, and in the third quarter of this year, ACH was launched on Coinbase, one of the global largest cryptocurrency exchange – anchoring ACH firmly in the global crypto economy.

ACH has also been listed on world-renowned exchanges such as POLONIEX, Gate.io, Changelly, and Uniswap. Its value has risen as much as 150-fold on the back of rising community supporters and investors to over 200,000.

Alchemy Pay’s ACH and services can be used in many areas of everyday life, such as in-store shopping, hotel accommodation, and groceries. However, other blockchain transactions such as cryptocurrency and DeFi investments are also possible.

Alchemy Pay is deeply linked to both cryptocurrency and the traditional fiat currency world. As veterans in both of these areas, Alchemy Pay can provide users with convenient and reliable access to crypto payments. Alchemy Pay provides millions of merchant enterprises with a bridge between crypto and fiat economies.

An exciting development of Alchemy Pay’s virtual crypto-linked card project was also announced at the event. Alchemy Pay will be collaborating with six well-known NFT artists from various countries around the world to launch a total of 36 virtual crypto-linked card designs. These works of art are limited edition NFTs co-branded with crypto-linked virtual Visa cards that offer ultra-premium benefits such as 24-hour butler service, global airport first-class lounges, and hotel perquisites.

One of the six artists who created the card artworks in collaboration with Alchemy Pay, Song Ting, a “Forbes 30 under 30” star who currently holds the record in NFT sales in the Chinese market, introduced herself with characteristic creative spirit at the event, proclaiming “crypto art will herald a massive thought revolution.”

Alchemy Pay’s achievements were affirmed at the event by many partners. Two representatives, who are key institutional partners of Alchemy Pay, Amos Zhang, Global Market CMO and Head of Asia Pacific at NEAR, and Charlie Hu, Head of Polygon Asia, said they are very optimistic about the prospect of promoting the development of the industry together with Alchemy Pay.

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Elon Musk’s Warning About Government Spending and Unrealized Gains Tax Proposal Highlights Benefits of Bitcoin

A warning by Tesla and Spacex CEO Elon Musk about the mounting national debt in the U.S., government spending, and the proposal to tax unrealized capital gains has highlighted the benefits of cryptocurrencies, particularly bitcoin.

Elon Musk Says ‘Spending Is the Real Problem’

Tesla CEO Elon Musk made several tweets about the U.S. national debt and government spending last week. He also warned against the proposal to tax unrealized capital gains, aimed at billionaires, which was scuttled Friday amid questions about whether it would even be constitutional.

Musk believes that if the proposal were to go ahead, the government would not stop at billionaires. “Eventually, they run out of other people’s money and then they come for you,” he tweeted early last week.

Commenting on a Washington Post article stating that he would “pay as much as $50 billion under the tax over its first five years, while Bezos could pay as much as $44 billion,” the Tesla CEO tweeted to his 61.7 million followers: “According to their own estimates, this tax only covers ~10% of the $3.5 trillion spending bill. Where will the other 90% come from? The answer is you.”

The Tesla boss proceeded to explain that the U.S. national debt is currently about $28.9 trillion or $229K per taxpayer, asserting that even if all billionaires are taxed at 100%, it would only make a small dent in the debt number. “The rest must come from the general public,” he stressed. “This is basic math.” Musk elaborated:

Spending is the real problem … U.S. federal debt/GDP was 56% in 2000, now it is 126% & climbing fast.

Musk’s comments have drawn much attention. At the time of writing, his tweet has been liked 34K times and retweeted 7,123 times.

Some people strongly disagree with Musk, accusing the Tesla billionaire of not understanding economics and avoiding paying taxes. “Has anyone explained money creation to Elon?” one person tweeted.

Several pointed out that his companies are heavily subsidized by the government. One person wrote: “How do you think you became the richest man in the world? Could’ve been the $5 billion the US government gave you to start your companies?” Another said, “Spacex and Tesla only exist because of government spending.”

A third person acknowledged that “Taxation is theft,” but told Musk: “You’re a hypocrite … Pay back the billions in government subsidies you received first and then you will be able to argue against taxation.”

‘Bitcoin Has Become so Valuable’

Meanwhile, many people agreed with Musk on the government spending problem and mounting national debt, stating that this is why they put their money in crypto. Marcelo Claure, CEO of Softbank Group International, simply replied, “Totally agree.”

Lawyer John Deaton described: “The politicians’ intent is so transparent. Classic divide & conquer strategy by employing class warfare. It’s only against the billionaires – Until it isn’t. Do the math.”

Coinbase CEO Brian Armstrong agreed with Musk, stating: “Exactly — it’s gotten completely out of hand. If they are going to keep printing to service the debt and cover the deficit, then this will accelerate the move into crypto.”

The mayor of the city of Miami, Francis Suarez, who has been trying to build his city into a bitcoin hub, chimed in:

It’s why bitcoin has become so valuable. An unmanipulatable currency/store of value.

On Sunday, Musk said that he would sell his Tesla shares if it would solve the world hunger problem. Responding to a comment by the director of the United Nations’ World Food Program (WFP) that 2% of his wealth could solve world hunger, Musk wrote: “If WFP can describe on this Twitter thread exactly how $6B will solve world hunger, I will sell Tesla stock right now and do it.” However, he emphasized: “But it must be open source accounting, so the public sees precisely how the money is spent.”

What do you think about Elon Musk’s comments? Let us know in the comments section below.

via Kevin Helms

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Rich Dad Poor Dad’s Robert Kiyosaki Warns US Sliding Into Depression After Giant Crash, Recommends Bitcoin

Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, has warned that the U.S. is “sliding into depression.” He said that a giant crash is coming, after which “a new depression” will follow. Bitcoin is among his recommendations for smart investing.

Robert Kiyosaki Sees Giant Crash Coming, Followed by a New Depression

Famous author and investor Robert Kiyosaki has warned of a new depression in the U.S. following a “giant crash.” Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.

The famous author tweeted Friday that the U.S. is “sliding into depression.” He said President Joe Biden and the Fed are “ripping off people,” noting that they “need inflation to prevent new depression.” Kiyosaki stressed: “Inflation rips off the poor. Inflation makes [the] rich richer. Biden and Fed corrupt.” He continued:

Prepare: Giant crash then new depression. Be smart: Buy, gold, silver, bitcoin.

A number of people have voiced similar concerns about inflation. Senator Rick Scott (R-Fla) said on Fox News Sunday that Americans should be furious with the way Democrats are handling their money, adding that President Joe Biden’s Build Back Better agenda will only worsen the country’s “ridiculous” inflation.

“If you look at what they’re talking about with this — name whatever the bill is — all it’s going to do is cause more inflation … Look at what it’s doing to poor families in this country, with gas prices up 55%. Go to the grocery store, food prices are up. It’s all caused by government spending,” he opined.

This is not the first time Kiyosaki has warned that a major crash is coming. In September, he said: “Giant stock market crash coming October. Why? Treasury and Fed short of T-bills.” He noted at the time that “Gold, silver, bitcoin may crash too,” adding that cash is “best for picking up bargains after [the] crash.” The famous author emphasized that he is not selling gold, silver or bitcoin.

Kiyosaki has been recommending BTC to investors for quite some time. Earlier this month, he said: “I love bitcoin because I do not trust Fed, Treasury, or Wall Street.”

When the price of BTC rose above $60K, Kiyosaki tweeted: “Future very bright. Celebrate yet be cautious. I am waiting for a pullback before investing more.” In August, he said bitcoin was the investment with “the greatest upside.”

What do you think about Robert Kiyosaki’s warning? Let us know in the comments section below.

via Kevin Helms

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Mark Cuban and Voyager CEO Advise How to Get Into Crypto, Offer Tips for New Investors

Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, and the CEO of crypto trading platform Voyager have given some advice to people thinking of starting to invest in cryptocurrencies. “You don’t have to spend a lot of money in order to learn. It’s not like the stock market where it’s almost impossible,” Cuban said.

How to Get Into Crypto, What Investors Should Know

The owner of the NBA team Dallas Mavericks, Mark Cuban, and the CEO of crypto platform Voyager, Steve Ehrlich, gave some advice on how to get into cryptocurrency last week during the partnership announcement between the Dallas Mavericks and Voyager.

They were asked whether it was too late to get into cryptocurrency and what new crypto investors should know. Responding to the question: “Is it too late to get into crypto?” Voyager CEO Steve Ehrlich replied:

It’s never too late and, actually, now is the right time. I still think it’s the first half of the first quarter on crypto adoption.

“About 220 million people have crypto right now and we (anticipate) a billion in four years. So that shows you where we can actually go with crypto and crypto adoption,” he elaborated.

Cuban noted:

You don’t have to spend a lot of money in order to learn. It’s not like the stock market where it’s almost impossible, except on a few platforms, to spend $10 and get started.

He further shared: “My now 12-year-old son got me in dogecoin when it was less than a penny. I was like ‘let’s do this’ because it’s a cheap way for him to learn how all of this works.”

The two were also asked if someone is getting into crypto for the first time, “what are some key things [they] need to know?”

Ehrlich advised:

Enter small and just learn a little bit. Start small and I think it’s always wise to start financial investments small and then work your way up.

He continued: “As you start learning more and understanding more, then you can start increasing from there. But I think it’s always a wise place to start.”

Cuban concurred, cautioning: “You’re spending your money, so always be careful. But the other thing, look, there’s investments. Things like shiba inu [SHIB] and dogecoin [DOGE], those aren’t investments.”

What do you think about the advice given by Mark Cuban and Voyager’s CEO? Let us know in the comments section below.

via Kevin Helms

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Enjinstarter Announces Successful Completion of Fundraising and Pipeline of Projects for November

PRESS RELEASE. Singapore-based Enjinstarter (EJS) has completed its Token Generation Exercise (TGE), raising a total of $500,000 via a collaborative fund raising effort over 4 launchpads namely Genesis Shards, Chainboost, Starter.xyz and Enjinstarter’s own launchpad. This followed a highly-successful, oversubscribed private sale that raised $5 Million from prominent Crypto VCs and highly influential angel investors from the Blockchain and Digital Assets industry.

According to Enjinstarter CEO, Prakash Somosundram, “Enjinstarter’s native token (EJS) presents an exciting opportunity for token holders who want to ride the massive trend of Blockchain Gaming and Metaverses. We are also honoured to have had the strong support of our investors who not just contributed financially, but also supported us through the introduction of key opinion leaders and also to quality projects to feature on our launchpad”.

“With an impeccable track record of investing within the crypto gaming sector, the X21 Digital team values the long term viability of Enjinstarter in spearheading the growth and development of gaming startups in the Enjin ecosystem. We are pleased with their progress so far and look forward to the next generation of amazing blockchain games.” commented Lester Lim , cofounder of X21 Digital.

A Strong List of IDOs in the Pipeline

Right after its TGE, Enjinstarter hosted the public sale of Defina (FINA) on the 11th of October 2021. Defina an online blockchain game that combines decentralized finance (Defi), and NFT to allow players to own their gaming assets and monetize them through Play to Earn. Defina has been highly successful and has achieved more than 14 times the return on investment on its IDO price in less than a month.

Enjinstarter is currently running Gaia Everworld’s public sale which will happen from the 31st of October 2021. Gaia Everworld is the immersive, multi-region fantasy world in which players build their kingdoms, explore the lands, collect, breed and battle their Gaia Legionnaires. Gaia Everworld is part of the new generation of gaming being built on the blockchain which gives players full ownership of their characters, and rewards them for playing in a “play to earn” model of gaming which has taken the crypto space by storm in 2021.

Enjinstarter is expected to host at least 7 projects in November including Pixelverse , Scotty Beam, Killbox, ZomFi, Playermon, One Rare and Attackwagon.

“We will continue to strive to find the best Blockchain Gaming projects for our community, and the best value that we can give each project would be to ensure they run a smooth and successful campaign and get all the necessary support they need” commented Prakash.

“We are excited to be working with Prakash and the Enjinstarter team for our IDO. They have not been just partners but friends as well and are playing a key role in helping us realize the vision of our project and accelerate our investor readiness ” shared Guarav Gupta, Co-founder of OneRare-The First Food Metaverse Game.

Next Phase of Growth

Trading on Uniswap since 2nd of October 2021, Enjinstarter is currently trading at close to 16X ROI on the Public Price down from the all time high of 31X ROI achieved earlier in the month. Enjinstarter will also be introducing native staking on its platform soon to encourage long term investors to stake their tokens.

They are currently preparing for a centralized exchange listing in early November 2021

 

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About EnjinStarter

EnjinStarter is a launchpad for Blockchain Games, NFTs and Metaverses.

They are focused on building an ecosystem for Enjin and Efinity.

Participate in all upcoming Initial Game Offering at www.Enjinstarter.com

 

Backed by Top Names & Institutional Investors

Enjinstarter boasts an impressive list of institutional investors including Enjin, Baselayer and many other global digital assets funds.. Notable angel investors and advisors include Maxim Blagov, Witek Radomski , Shashwat Gupta , Garlam Won , Gabby Dizon , Heslin Kim, Kelly Choo, Shitij Gupta, Melvin Yuan, Rakesh Gupta and Joni Kuiru.

 

Complete List of Institutional Investors:

Enjin, Baselayer, Momentum 6, Arkstream Capital, AU21 Capital, Aussie Capital, Angleone Capital, Avalon Wealth Club, Boost Innovation Labs, Brotherhood Ventures, Basics Capital, Chainstride Capital, Crypto Dorm Fund, CSP Dao Network, Dutch Crypto Investors, Exnetwork Capital, Follow the Seed, HG Ventures, Hello Capital, It’s Blockchain, Kangaroo Capital, Moon Whale Ventures, Oracles Investment Group, Otis Capital, Tag Ventures, Three M Capital, TK Ventures, Starter Capital, Skybridge 20 Ventures, Vendetta Capital, 6k Starter and 0x Ventures.

 

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Ether Inferno: Ethereum Network Burned Over $2.4 Billion Worth of ETH in 87 Days

87 days ago, the Ethereum network successfully implemented the London hard fork upgrade, and ever since then over 700,000 ether has been burned, or more than $2.4 billion using today’s exchange rates.

702,886 Ethereum Burned Since the London Hard Fork

Data from Dune Analytics indicates that on October 31, 2021, otherwise known as Halloween, 702,886 ethereum (ETH) has been burned. The burning of ethereum started on August 5, 2021, when the Ethereum network successfully implemented the London hard fork upgrade and EIP-1559.

At the time, the London hard fork upgrade included roughly five different changes but the most transformative were EIP-1559 and EIP-3554. While EIP-3554 changed the Ethereum network’s difficulty bomb, EIP-1559 changed Ethereum’s fee rate to a new scheme that makes the crypto asset ether deflationary.

Just recently, Ethereum implemented the Altair upgrade which helps smooth the consensus process from proof-of-work (PoW) to proof-of-stake (PoS). After Altair was implemented, ethereum (ETH) tapped an all-time high (ATH) two days ago on October 29, reaching $4,467 per ether.

The 702,886 ethereum (ETH) that has been burned to date is worth roughly $2.476 billion using exchange rates on October 31.

The biggest ETH burner today is the non-fungible token (NFT) marketplace Opensea which has burned 91,171 ether. This is followed by typical ether transactions that everyday users and organizations send which amounts to 63,441 ether burned. The decentralized exchange (dex) Uniswap V2 has burned 51,217 ether, making it the third-largest burner today.

While tether (USDT) is the fourth-largest burner on the network on Sunday, the stablecoin USDC is the eighth-largest in the pack. Other notable platforms and networks that contribute significantly to the ether burn rate include Metamask, Axie Infinity, and the dex aggregator 1inch.

Meanwhile, statistics from bitinfocharts.com indicate the average transaction fee on the ETH network is 0.012 ether or $51.16. Metrics from l2fees.info are far more modest with Ethereum network fees recorded at $10.21 per transaction. L2fees.info also shows that transferring Ethereum-based tokens can cost $23.26 per transfer and swapping a token via a smart contract can cost $51.05 per transaction.

What do you think about the 700K ether or $2.4 billion worth of ethereum burned since August 5? Let us know what you think about this subject in the comments section below.

via Jamie Redman

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Celebrating the Seminal Bitcoin White Paper Satoshi Nakamoto Published 13 Years Ago Today

All around the world cryptocurrency supporters and proponents of blockchain technology are celebrating the 13th anniversary of the Bitcoin white paper. The summary of the inventor’s creation was published on metzdowd.com’s Cryptography Mailing List on Halloween 2008, as it gave birth to an asset with a market valuation of over $1 trillion and sparked the creation of over 10,000+ cryptocurrencies that followed Satoshi Nakamoto’s innovative design.

Introducing the Proof-of-Work Chain: A Solution to the Byzantine Generals Problem

13 years ago at approximately 2:10 p.m. (EDT), Satoshi Nakamoto published the Bitcoin white paper, a summary of the innovative network and native cryptocurrency that changed the world. The 12-part white paper starts off with an indented paragraph called an abstract which explains that Bitcoin is a “purely peer-to-peer version of electronic cash [that] would allow online payments to be sent directly from one party to another without going through a financial institution.”

When the paper was first published, academia and computer scientists worldwide were not aware that Bitcoin’s inventor solved a problem that had plagued computer scientists for years — the “Byzantine Generals Problem” or the “Byzantine Fault.” Two weeks after Nakamoto published the white paper on Halloween 2008, he told the pseudonymous member of metzdowd.com’s Cryptography Mailing List, James A. Donald, the inventor solved the problem. Nakamoto said on November 13, 2008:

The proof-of-work chain is a solution to the Byzantine generals’ problem.

The benefits of Nakamoto’s paper were clear and the advantages of triple-entry bookkeeping became apparent to people who studied the inventor’s paper and witnessed the launch of the network on January 3, 2009. Satoshi also told Donald a few days earlier, that the “proof-of-work chain is the solution to the synchronisation problem, and to knowing what the globally shared view is without having to trust anyone.”

Triple-Entry Bookkeeping: Nakamoto’s Bitcoin Invention Has Forever Changed the World

Since then, Nakamoto’s paper gave birth to the Bitcoin network and the myriad of blockchains that followed. Moreover, the white paper is leveraged in academia quite a bit these days as it is referenced in many crypto network white papers and cited 17,201 times on Google Scholar. It is safe to say there hasn’t been another white paper as prolific and innovative as Nakamoto’s since its release on October 31, 2008. It quite literally invoked the next level of ledger accounting systems as triple-entry bookkeeping — in contrast to single and double-ledger systems — offers a concept that is nearly trustless, if we remove trusting the autonomous system.

Bitcoin transactions are pseudonymous and users can add as much privacy as they want as the system offers both public transparency and privacy at its core. “The traditional banking model achieves a level of privacy by limiting access to information to the parties involved and the trusted third party,” the Bitcoin white paper details. “The necessity to announce all transactions publicly precludes this method, but privacy can still be maintained by breaking the flow of information in another place: by keeping public keys anonymous.”

Just as the printing press changed society for the better and allowed people to learn without an apprenticeship and just as the combustion engine made traveling a whole lot faster, Satoshi Nakamoto’s Bitcoin invention is one that has forever changed the world.

In the beginning skeptics, bankers, and governments mocked and laughed at the nascent technology and in time they even tried to attack crypto’s exponential growth. These days, the biggest financial institutions in the world are trying to adapt to Nakamoto’s concepts and governments are trying to produce their own versions of blockchain technology.

The white paper is now a very important paper that is hosted on the websites of large corporations, city web portals, and cited as one of “the seminal works” of computer science. On Lex Fridman’s podcast at the end of April 2020, Twitter CEO and Square co-founder, Jack Dorsey, told Fridman the white paper is like “poetry.”

“I think the Bitcoin whitepaper is one of the most seminal works of computer science in the last 20 or 30 years,” Dorsey said.

Bitcoin.com News readers that are interested in reading the innovative Bitcoin white paper can read Satoshi Nakamoto’s famous paper in its entirety here.

What do you think about the 13th anniversary of the Bitcoin white paper? Let us know what you think about this subject in the comments section below.

via Jamie Redman

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Dogecoin, Shiba Inu, Dogelon Mars Lead the Pack of 45 Doge-Like Tokens Capturing Astronomical Gains

2021 has been the year of decentralized finance (defi), non-fungible tokens (NFTs), and meme tokens as well. During the first week of August, roughly 30 dogecoin-like crypto assets existed and today, there are now 45 tokens with the terms “dog,” “shiba,” and “inu” in their names. Many of these coins have seen astronomical gains this year, outperforming some of the most sophisticated blockchain assets.

Who Let the Dogs Out? Doge-Like Meme Tokens Are No Joke When it Comes to Market Gains

Digital meme-based currencies have done extremely well this year in terms of fiat gains. At the beginning of the year, all eyes were on dogecoin (DOGE), when the original meme crypto skyrocketed in value. Dogecoin has gained a whopping 10,360% year-to-date which is much larger than BTC’s 350% gain this past year and ETH’s 1,014% 12-month gains. After spending years below a U.S. penny per token, DOGE surged to $0.731 per unit six months ago on May 8.

Close to eight years ago the Dogecoin network launched on December 6, 2013, and today, there are 45 meme-based crypto assets with the terms “dog,” “shiba,” and “inu” in their names. That’s 15 more canine-coins than the count Bitcoin.com News recorded during the first week of August.

Many of these coins have seen phenomenal gains like shiba inu’s (SHIB) 83,639,360% massive rise during the last 12 months. SHIB has gained a whopping 815% during the last month alone and reached an all-time high on October 28.

The digital asset dogelon mars (ELON) is the fifth-largest meme-based crypto asset, according to Coingecko’s “Top Meme Tokens by Market Cap” list. Dogelon mars hasn’t been around for a whole year, but during the last 30 days, the crypto asset has risen 3,930% in value. Baby doge coin (BABYDOGE) is the seventh-largest meme crypto in the bunch and it has spiked ​​560% during the last month. In the last seven days, safemoon inu (SMI) has spiked 540% and polydoge (POLYDOGE) jumped 459% this past week.

Dogecoin and Shiba Inu See Google Trends Search Queries Rise in October

What bitcoin saw during the last year in terms of gains, these meme-based dog crypto assets have outperformed during the last month and even the last seven days. While there are a few hundred meme-based crypto assets that are not tied to the terms “dog,” “shiba,” and “inu” in their name, coins bearing those descriptive terms are the top dogs of the meme market revolution.

Both dogecoin (DOGE) and shiba inu (SHIB) have been the top two dog coins holding the ranks and during the last month, Google Trends (GT) worldwide data indicates on October 27, the term “SHIB” scored 100 points. GT data is based on the number of “SHIB” queries Google has recorded and 100 points is the highest score a trend can achieve. The term “SHIB” dropped the following day on October 28, tapping a GT score of 93.

While the search query “SHIB” got a 100 on October 27, the same day the query term “dogecoin” scored a 53. However, things changed quickly the following day as the search query “dogecoin” scored an 89 in contrast to the 93 “SHIB” scored on Thursday.

What do you think about the 45 dog coins today? Let us know what you think about this subject in the comments section below.

via Jamie Redman

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OVR Land Map: The Biggest Detailed 3D Map of the Real World With NFTs

OVR AR Metaverse goes to a whole other level. Italian company OVR is announcing today the creation of the so-called OVR Land Map.

OVR Land Mapping: the metaverse to another level

Thanks to the powers of AI, in fact, OVR is able to generate a 3D map of the physical world starting from simple pictures, no lidar or other expensive HW needed, just the smartphone in your pocket. All of the OVR users will be able to contribute to creating the biggest detailed 3D map of the real world.

This revolutionary technology of open mapping system will bring the OVR AR Metaverse to a whole other level: currently, when geolocalization an AR asset in an OVRLand there’s the limitation of the GPS accuracy that has meters of error outdoor while is totally unreliable indoor, a scanned OVRLand will have a localization precision up to ì0 cm.

A new AR experience

That opens up a whole new realm of opportunities in creating AR experiences that before were not technically feasible: localizing experiences on a specific wall or a statue outdoors, precisely superimposing AR to existing buildings, geolocating assets indoor and on multiple floors, to name a few… No other platform, nor in the blockchain, nor the traditional world, can currently achieve this.

But this is not only about AR precision and creating a wider bridge between the physical and the digital world; this is also about creating new economies on OVR.

For example, Axie Infinity demonstrated what the potential of play-to-earn is. It enabled a crowd of players to earn a living in the Metaverse, also creating social inclusion between some of the poorer populations on the planet.

OVR, with its technology, will unleash the potential of Map to Earn, so the company will enable a crowd of OVRLand Scanners to earn OVR tokens by simply scanning physical locations with the smartphone they have in their pockets.

An amazing infrastructure

The company foresees this activity to be subsidized by OVR with a part of the revenues from OVRLand sales, by OVRLand owners that will decide to make their OVRLands even more valuable and usable by adding the 3D mapping and finally institutions that will harness the OVR platform to populate the Public Utility Layer of their territories.

In the last year, treasure hunters physically went to over one million locations to collect the tokens, which would be already 300.000 mapped sq Km!

And that’s not all, another important question is what parts of the world should be mapped?

OVR has an answer to this question, OVRLand buyers generated a “Wisdom of the Crowds” based map, 6k+ investors voting with their wealth on the most important locations in the world.

Davide Cuttini, CEO of OVR, talks about the future of AR Metaverses:

“When I imagine a world where reality and virtuality are fused, where thanks to small contact lenses I can’t distinguish real and unreal projections, the crowdsourced 3D world scanning is the fundamental brick to create an amazing new infrastructure. Without the complete understanding of the real world through AI models available from commodity devices, no AR platforms will see a real adoption. I think that OVR is in the right direction to democratize access to this amazing new way to live our lives!”.

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Federal Security Service of Russia Seeks Powers to Obtain Information From Crypto Platforms

The Federal Security Service of the Russian Federation has issued a draft order allowing its agents to request information from cryptocurrency platforms among other organizations. The move follows changes made to the anti-corruption legislation in Russia, the agency noted.

FSB Wants Access to Crypto Data for Anti-Corruption Checks in Russia

Russia’s main law enforcement agency, the Federal Security Service (FSB), has decided to grant its employees additional powers to acquire information from various organizations and institutions as part of efforts to combat corruption. A draft order has been published for public discussions and the FSB welcomes “independent anti-corruption expertise” on the matter.

According to the document, FSB agents will receive permission to file information requests with credit organizations, tax authorities, and government bodies responsible for the registration of rights to real estate during anti-corruption inspections. “Operators of information systems in which digital financial assets are issued” are also listed in the order.

The move comes after the introduction of amendments to Russian legislation pertaining to the fight against corruption. Since Jan. 1, 2021, digital financial assets such as cryptocurrencies are considered property in Russia. Information about crypto holdings should be reflected on income statements.

The requirement stems from a presidential decree signed by Vladimir Putin in December, 2020, regarding the implementation of the law “On Digital Financial Assets.” If approved, the order will affect bitcoin exchanges as FSB will be able to send these platforms inquiries, crypto news outlet Forklog noted in a report.

Putin’s order from last year compelled government workers in Russia to disclose their cryptocurrency holdings. They were obliged to submit details about where they purchased the digital assets and their value. According to the document dated Nov. 10, 2020, children and spouses of state employees must also disclose their digital currency funds.

In August of this year, the Russian president tasked several ministries and the central bank with verifying information provided by government employees about their crypto assets. This order was issued as part of the country’s National Anti-Corruption Plan 2021-2024, which was approved with another decree signed by the Russian leader and published earlier the same month.

Do you think the new FSB order will gather public support in Russia? Share your thoughts on the subject in the comments section below.

via Lubomir Tassev

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Web3 Infrastructure Provider Alchemy Raises $250 Million in Funding Round Led by a16z

Alchemy, one of the leading infrastructure providers for blockchain and web3, has raised $250 million in its series C funding round, giving it a valuation of $3.5 billion. The round was led by a16z, which considers we are at a turning point in the web3 space. The company has multiplied its revenue by 15x in the last six months, a testament to the impact it has caused on the ecosystem.

Alchemy Reaches $3.5 Billion Valuation

Alchemy, a web3 and blockchain infrastructure provider, has reached a milestone by raising $250 million in its series C funding round. The round was led by known VC companies a16z, Lightspeed, and Redpoint, with the participation of Coatue, Addition, DFJ, and Pantera as well. With this new funding round, Alchemy reached a valuation of $3.5 billion, an outstanding value for a company that was publicly launched just a little more than a year ago.

The company, that compares its role in the blockchain ecosystem with the role of AWS in the current internet structure, has benefited enormously from the current bull market and the expansion of decentralized finance.

This growth has caused a 15x increase in revenues for the company since six months ago. This is because Alchemy offers a vertical suite of technologies that can be leveraged by several institutions in the spectrum, including financial protocols, NFT platforms, exchanges, and even multinational companies.

Ali Yahya, the general partner of A16Z, stated this moment is key for making investments in web3 infrastructure. In this sense, he stressed:

We’re at a very unique time in the evolution of web3. The space is finally graduating from its infrastructure phase. With the help of companies like Alchemy, it is now capable of supporting real-world applications for mainstream audiences.

Growing the Ecosystem

Alchemy will reportedly use the funds to further grow the ecosystem by extending the reach of its tools for more web3 developers worldwide. This includes strengthening the infrastructure around web3 services and building educational material to make it easier for future developers to be onboarded.

It will also expand globally, by funding the creation of new offices all around the world. Joe Lau, co-founder, and CTO of Alchemy thinks that blockchain and Web3 are just beginning their journey into the mainstream. Nikil Viswanathan, co-founder, and CEO of Alchemy stated:

We’re excited to continue investing in making blockchain accessible to developers globally. Empowering developers is the key to bringing the magic of blockchain to the world.

What do you think of Alchemy’s latest funding round? Tell us in the comments section below.

via Sergio Goschenko

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Patreon Considers Allowing Creators to Use Crypto for Monetization

Patreon, the membership platform, is pondering the idea of letting creators in its platform issue their own creator coins. The statement, that constituted a revelation, was offered by Patreon CEO and co-founder Jack Conte and Chief Product Officer Julian Gutman during The Information’s 2021 Creator Economy Summit. This is consistent with a report presented last September that evaluated using crypto as part of the platform.

Patreon Flirts With Crypto

Patreon, the well known membership organization, is now pondering the idea of introducing crypto elements to add new revenue paths, according to statements from CEO Jack Conte and Chief Product Officer Julian Gutman. During The Information’s 2021 Creator Economy Summit, both directives admitted the idea of introducing a membership token for content creators is on the table.

While Patreon has explicitly forbidden the introduction of coins as an investment form in its platform, this rise in the crypto along with other circumstances that the platform is facing could push it to modify these rules in the near future. About this, Gutman stated:

I think we’re certainly interested in evaluating and understanding how NFTs or some of the underlying technologies help us create that sustainable long-term earnings for creators.

Conte also praised the crypto worked due to its permissionless and direct traits. This allows creators to own their products and the data from their followers without having to rely on any platform to serve as the middleman, what strangely, Patreon is. “I think that’s what a lot of this technology is getting at, and what I think is really deeply exciting about it,” he stressed.

Crypto as an Alternative

Patreon has had problems with some content creators in the past, which has prompted them to consider crypto-based services as an alternative. In December 2018, Patreon de-platformed some creators from its service including “Sargon of Akkad” aka Carl Benjamin, leaving him without the income from the subscribers that followed him.

This caused Jordan Peterson, another influencer in Patreon’s service, to close his account and launch a new alternative service with more lax rules regarding content moderation. However, the inclusion of crypto in a periodic membership service has been tried before, but without much success.

Ironically, Patreon could be the platform to implement crypto as a response to the new adult policies of Mastercard. The platform hinted at this in its latest policy engagement update, where it declared:

One opportunity creators have expressed interest in is developing a creator coin or social token which could be included as a membership benefit.

What do you think about Patreon’s recent approach to cryptocurrencies? Tell us in the comment section below.

via Sergio Goschenko

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Finder Survey: Nigeria’s 24.2% Adoption Rating Is the Highest Rate of Crypto Ownership Globally

According to the latest Finder Cryptocurrency Adoption Index, in October 2021, Nigeria had the highest rate of cryptocurrency ownership globally, at 24.2%.

Bitcoin Is the Most Popular Coin in Nigeria

In addition to finding the West African nation as the country with the highest proportion of citizens that hold cryptocurrencies globally, the survey also discovered that “of the 1 in 4 online adults in Nigeria who own some form of cryptocurrency, bitcoin is the most popular coin in Nigeria at 66.5% of crypto owners.” Alternatively, this means more than half of the 24.2% of Nigerian respondents that own cryptocurrencies are in fact bitcoin holders.

On the other hand, the survey findings suggest ethereum (ETH) is the second most popular coin with Nigerian cryptocurrency holders, at 23.8%. Despite this seemingly high rate of interest in ETH, the ratio of Nigerians holding this cryptocurrency relative to other countries is still lower, the survey data suggests.

In fact, according to the survey, the 23.8% ETH ownership ratio is only enough to see Nigeria being ranked the 15th country out of a total of 22 countries.

Dogecoin in Third Place

Meanwhile, the survey findings show the meme coin, dogecoin, in third place at 21.8%. This ratio in turn is enough to see Nigeria feature in the top ten. The survey report explains:

Dogecoin is the third most popular choice with crypto adopters in Nigeria, with 21.8% of adults who own crypto holding the coin. This makes it the 8th ranked country in our list of 22 countries in terms of dogecoin ownership among those that own crypto.

In terms of the makeup of cryptocurrency owners in Nigeria, the survey found 62.9% of Nigerian crypto owners to be men while women account for the remainder.

In other words, this disparity between the number of males and females that own crypto means men are 1.7 times more likely to own crypto. With the average figure globally at 1.5, this means Nigeria has the 11th highest male dominance of the 22 countries.

Do you agree with the findings of this survey? Tell us what you think in the comments section below.

via Terence Zimwara

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A New Academic Paper Describes 3 Attack Methods Against an Ethereum PoS Chain

Following the Altair upgrade on the Ethereum network, the protocol’s native cryptocurrency reached a new all-time price high. Altair is the next step for the Ethereum’s network’s proof-of-stake (PoS) transition. However, a recently submitted white paper explains that a group of computer scientists from Stanford University and the Ethereum Foundation believe there are three attack vectors “on [a] proof-of-stake Ethereum” blockchain.

The 3 Attacks Against Ethereum Thesis Aims to Describe a Proof-of-Stake Problem Based on Evidence

The Ethereum network currently has a proof-of-work (PoW) consensus mechanism and in time, the protocol plans to fully transition into a proof-of-stake (PoS) network. Recent upgrades like Berlin, London, and Altair have been applied to help smooth the transition toward the PoS goal. Just recently, after Altair was implemented, the price per ether skyrocketed toward a new all-time high (ATH) at $4,467 per unit.

At the same time, network transfer fees have also swelled significantly as high as $50 for the average ether transaction on Saturday morning. Furthermore, on Saturday morning in the U.S. vertical trends from Twitter indicate the term “ETH 2.0” started trending. Some of the individuals discussing the ETH 2.0 upgrade have shared a new white paper written by computer scientists from Stanford University and the Ethereum Foundation.

The BTC proponent Tuur Demeester shared the paper on Saturday and two quotes from the paper that theorize how an adversary can attack the chain. The paper called “Three Attacks on Proof-of-Stake Ethereum” was submitted on October 19.

Quotes from ETH 2.0 attacks paper, via @KyleLogiks:

“With 99.6% probability an adversary with .09% stake can execute a 1-record for any given day”

“Under adversarial network delay, an adversary can perform a 10-reorg by merely controlling 19 validators”https://t.co/HGazdB0acV pic.twitter.com/MsZoyUGdev

— Tuur Demeester (@TuurDemeester) October 30, 2021

The white paper was authored by Caspar Schwarz-Schilling, Joachim Neu, Barnabé Monnot, Aditya Asgaonkar, Ertem Nusret Tas, and David Tse. Essentially, the white paper reveals that two Ethereum network attacks were presented in recent times and the paper’s authors refined the techniques.

In addition to the refinement of the first two which theoretically create “short-range reorganizations” and an “adversarial network delay,” the computer scientists came up with a third attack.

“Combining techniques from both refined attacks, we obtain a third attack which allows an adversary with vanishingly small fraction of stake and no control over network message propagation (assuming instead probabilistic message propagation) to cause even long-range consensus chain reorganizations,” the paper’s authors note. The three attacks to ETH PoS paper adds:

Honest-but-rational or ideologically motivated validators could use this attack to increase their profits or stall the protocol, threatening incentive alignment and security of PoS Ethereum. The attack can also lead to destabilization of consensus from congestion in vote processing.

White Paper Says Attacks ‘Also Enable aPriori Malign Actors to Outright Stall Consensus Decisions’

Meanwhile, Ethereum network critics used the paper to highlight the possible vulnerabilities associated with these attacks when the network transitions to a full PoS system. The founder of the Chia project and the creator of Bittorrent, Bram Cohen, also tweeted about the new study on Saturday.

Some issues with ETH2 consensus "we obtain a third attack which allows an adversary with vanishingly small fraction of stake to cause even long-range consensus chain reorganizations" https://t.co/Vz3KG3ai1W

— Bram Cohen🌱 (@bramcohen) October 30, 2021

A Chia proponent responded and told Cohen: “Let’s revisit your tweet in a year and see what Chia has accomplished vs ETH. Please consider your attitude is turning away community members like myself.” The Ethereum attacks paper does provide a possible method of attacks against an Ethereum PoS chain, but also offers solutions. The paper’s authors believe the attacks provide incentives to malicious actors.

“Our attacks also enable apriori malign actors, perhaps ideologically motivated, to delay and in some cases outright stall consensus decisions,” the paper’s authors conclude. “The refined attack of Section 4.2 gives the adversary a tool to do just that, even if the adversary cannot control message propagation delays (which instead are assumed to be probabilistic).”

What do you think about the recently published paper on three attacks against an Ethereum PoS system? Let us know what you think about this subject in the comments section below.

via Jamie Redman

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Mad Money’s Jim Cramer Invests in Crypto Because ‘There Could Be Millions of Greater Fools Out There’

The host of Mad Money, Jim Cramer, has some advice for crypto investors. “As long as you recognize the very real possibility that the whole investment case for crypto rests on the greater fool theory, you’ve got my blessing to speculate on it,” he said. Cramer added that he is holding ether because he believes “there could be millions of greater fools out there.”

Jim Cramer’s Crypto Investing Advice

The host of the Mad Money show on CNBC, Jim Cramer, talked about crypto investing Thursday. The former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website, said:

As long as you recognize the very real possibility that the whole investment case for crypto rests on the greater fool theory, you’ve got my blessing to speculate on it.

The greater fool theory states that the price of an asset is determined by whether you can sell it for a higher price at a later point in time. The theory refers to the idea that you can make money purchasing an asset because there is someone out there who eventually is willing to buy it from you at a higher price.

Cramer added, “I know a lot of people say ridiculous things about crypto, and I’ve caught a lot of flack for acknowledging that.” However, he emphasized:

At the end of the day, I’ve said repeatedly that you can use bitcoin or ethereum as a hedge against inflation, up to 5% of your savings, as a replacement for gold.

In August, the Mad Money host recommended putting up to 5% of portfolios in cryptocurrencies, stating that he is a believer in crypto. He said in March that gold let him down.

Cramer further shared: “I didn’t buy bitcoin or ethereum as inflation insurance. In all honesty, I was gambling. I was simply gambling on crowd psychology, though, and I have no idea whatsoever why these things went up, except that there are a lot of overenthusiastic people who want to buy high and sell higher.” He elaborated:

I’m holding onto my ethereum because I believe there could be millions of greater fools out there. I think that’s a decent bet.

He continued: “I don’t have any particular attachment to ethereum and eventually I’ll ring the register on the rest of my position when I think it’s done going higher.”

The price of ether hit an all-time high on Friday. At the time of writing, ETH stands at $4,274. It was down 3.5% in the past 24 hours but up 7% in the past seven days and almost 50% in the last 30 days.

In June, Cramer revealed that he sold almost all of his bitcoin after the Chinese government reiterated its crypto crackdown. In the same month, he said he put money in ETH, noting: “I like ethereum because people actually use it much more to be able to buy things.” In September, the Mad Money host begged crypto investors to take profit if they had any crypto gains due to concerns over Evergrande and Tether.

What do you think about Jim Cramer’s comments? Let us know in the comments section below.

via Kevin Helms

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Apple Co-Founder Steve Wozniak Warns Governments Will Never Allow Crypto to Be Out of Their Control

Apple co-founder Steve Wozniak sees bitcoin as mathematical purity, praising its fixed supply. However, he said that governments will never allow it to be out of their control. “If it got to the point where everything is being done in crypto and didn’t pass through governments for observation and taxation and all that, governments would just disallow it,” said the Apple co-founder.

Steve Wozniak Says Governments Will Never Allow Crypto to Be Out of Their Control

Apple co-founder Steve Wozniak talked about cryptocurrency in an interview with Yahoo Finance Friday. He was asked, “Are you a believer in crypto?”

The Apple co-founder replied: “Crypto has an awful lot of promise through the blockchain of different things it can do differently than before in life, right down to elections even. It has a very trustable format that can’t be modified easily with humans in control of it.”

He elaborated, “Look at our U.S. dollars, the government can just create new dollars, and borrow, and borrow.” In contrast, he noted that bitcoin has a fixed supply, emphasizing:

Bitcoin is mathematics, mathematical purity. There can never be another bitcoin created.

“Bitcoin doesn’t even have a creator that we know of. Bitcoin isn’t run by some companies. It’s just mathematical pure. And I believe nature over humans always,” he further described, noting that nature “really doesn’t change much.”

Wozniak was further asked if he believes that crypto will change how we do business.

“Yes, I am in that camp that crypto will be used effectively. We just have so many digital ways to pay for things now, even just to transfer money to people. It goes way back to Paypal, and now we have Apple Pay and Apple Cash. We have Venmo. So we already have other modes than crypto,” he replied.

However, the Apple co-founder opined: “Crypto just has a little bit of anonymity. I don’t know if that’s right that, ‘oh gosh I can do things without people knowing.’ I think that everything that you do in life you should be able to stand up and say, ‘Well this is me doing this transaction.’ And [with] crypto, it’s hard to trace back to who’s doing what. It’s possible though.”

Wozniak continued, “I love it when people like [Twitter CEO] Jack Dorsey talk about how crypto should be the heart of our business dealings.” However, the Apple co-founder warned:

The trouble is governments will never allow it to be out of their control. If it got to the point where everything is being done in crypto and didn’t pass through governments for observation and taxation and all that, governments would just disallow it. They wouldn’t give up their power.

What do you think about Steve Wozniak’s comments? Let us know in the comments section below.

via Kevin Helms

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Dogecoin Accounts for 40% of Robinhood’s Crypto Transaction Revenue in Q3

Trading platform Robinhood has reported that 40% of its cryptocurrency transaction-based revenue was attributable to transactions in the meme cryptocurrency dogecoin in the third quarter. By comparison, dogecoin accounted for 62% of the company’s transaction-based revenue in the second quarter.

Dogecoin Trading on Robinhood

Robinhood Markets Inc. stated in its quarterly filing with the U.S. Securities and Exchange Commission (SEC) Friday:

For the three months ended September 30, 2021, 40% of our cryptocurrency transaction-based revenue was attributable to transactions in dogecoin.

This was a significant decrease from 62% for the three months ended June 30, and 34% for the three months ended March 31.

Robinhood’s third-quarter transaction-based revenue totaled $267 million, with only $51 million coming from cryptocurrency trading. Revenue from crypto trading totaled $233 million in the second quarter.

The company’s Q3 filing further notes: “For the quarters ended September 30, 2021, June 30, 2021, and March 31, 2021, transaction-based revenue attributable to transactions in dogecoin comprised approximately 8%, 32%, and 7% of our total net revenues, respectively.”

Robinhood explained, “We support trading in dogecoin and we benefited from a surge in interest for dogecoin during the quarter ended June 30, 2021,” adding:

While we currently support seven cryptocurrencies for trading, market interest in particular cryptocurrencies can be volatile and there are many cryptocurrencies in the market that we do not support.

DOGE was down about 9% in the past 24 hours, but up 7% in the last seven days and 32% in the last 30 days.

Currently, supporters of DOGE rival shiba inu are petitioning on Change.org for Robinhood to list SHIB. At the time of writing, more than 432K signatures have been collected. “Dogecoin has been a huge success for Robinhood, and its investors. We have all enjoyed the ride. Shiba Inu is a similar meme coin with genuine potential, up 2,000% in the last weeks,” the petition states.

What do you think about dogecoin accounting for 40% of Robinhood’s transaction-based revenue? Let us know in the comments section below.

via Kevin Helms

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Finance Author Says $100K Bitcoin Prices Not ‘So Far-Fetched — Don’t Rule It Out’

Throughout 2021, there’s been a number of people who have said they expect bitcoin to reach $100K by the end of this year. In more recent times, the six-digit bitcoin price forecasts continue as people are now saying a sudden move to $100K “doesn’t seem so far-fetched.”

The Probability of Bitcoin Hitting $100K — ‘Don’t Rule It Out’

Many bitcoin speculators and investors believe the road to $100K is not only probable, but guaranteed. Bitcoin.com News has covered numerous individuals, experts, analysts, and advisors this year that have said bitcoin (BTC) is likely to reach the six-digit price range by the year’s end.

As the leading crypto asset, in terms of market capitalization, hovers above the $60K zone, many still believe the $100K target is inevitable. The financial institution Standard Chartered predicted at the beginning of September that BTC’s value could reach $100K by the end of the year or early 2022.

The web portal investing.com recently discussed whether or not BTC reaching six-digits per unit is possible. Meanwhile, Yahoo Finance contributor, Javier David, an editor “focused on markets and the economy” explained on October 21, that “suddenly, a bitcoin move to $100K doesn’t seem so farfetched.” David said “bitcoin ‘hodlers’ are looking awfully prescient these days,” and as far as BTC hitting $100K is concerned, the editor says “don’t rule it out.” David’s Yahoo Finance editorial adds:

It’s hard to deny that the nascent ETF boom is a milestone in bitcoin’s grudging yet growing acceptance. Is $100,000 — or even higher — the next stop? Don’t rule it out.

Bitcoin More Likely to Reach Six-Digits Than $40K

On Twitter, the Youtube channel Mmcrypto’s official Twitter account said on October 23:

It’s much more likely for bitcoin to hit $100K this year [than] $40K.

On October 27, Dennis Porter tweeted: “I can’t believe it, but bitcoin is on sale today. 12% off from ATH. Maybe last chance at these prices before $100K.” Last Tuesday, the creator of the Stock-to-Flow (S2F) bitcoin price model, Plan B, told his 1.2 million Twitter followers that the “bitcoin bull market, 2nd leg has started.”

Wallstreetbets Founder Jaime Rogozinski Predicts $100K by the Year’s End — S2F Author Gives ‘Floor Predictions to Laura Shin

In an interview with Blockworks, Wallstreetbets (WSB) founder Jaime Rogozinski said that the infamous Jordan Belfort asked him this past March where the WSB founder envisioned BTC’s price leading to by the end of 2021. “I told him $100,000 by the end of this year,” Rogozinski explained in his recent interview.

It seems quite a lot of crypto enthusiasts have the six-digit price range for BTC on the top of their heads. On October 23, the popular host of the Unchained podcast, Laura Shin, talked about six-digit prices with the S2F author Plan B. The S2F author told Shin his “bitcoin price floor predictions for November ($98K) and December ($135K).”

What do you think about bitcoin (BTC) hitting $100K by the year’s end? Let us know what you think about these predictions in the comments section below.

via Jamie Redman

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LGND Curates Major NFT Art Gallery at ComplexCon

PRESS RELEASE. Austin, Texas – LGND Art Inc. announces its foremost curatorial effort to date, a major NFT art show in the form of a gallery to appear exclusively at ComplexCon 2021. Sponsored by Coinbase, the exhibition will include global artists in a unique group that includes Mad Dog Jones, James Jean, Joshua Davis, Matt Gondek, Fvckrender, Michael Kozlowski, Victor Mosquera, Blake Kathryn, D*Face and Micah Johnson. LGND Art will host the auctions and edition offerings from Nov. 6-12.

Aiming to harness the overlapping communities of art, fashion and music, LGND Art will provide a free NFT by Michael Kozlowski to all attendees of ComplexCon. This introduction to NFTs to a wider audience will facilitate an expansion to an eager crowd of culture enthusiasts.

Created by artists for artists, LGND Art empowers its collective of world-renowned artists to integrate their works into the crypto ecosystem on their own terms, reach a larger audience, and secure their digital legacy through blockchain technology.

“LGND believes in empowering artists and the future of art,” says Ty Carter, Head of Creative at LGND Art. “Art is the great communicator that connects us all. The NFT medium continues to evolve into new forms pushing new technology, transforming the way we interact between the analog and virtual. LGND is proud to curate this immersive gallery and work with this historic group of artists.”

“I believe we have arrived at a revolutionary moment in the evolution of art in our culture. Working to curate a show with extremely vital artists in this show for ComplexCon is a brilliant opportunity to further kindle a dynamic community at the crossroads of art and technology,” said Ronnie K. Pirovino, Chief Curator at LGND Art.

 

ABOUT LGND Art

LGND is a highly curated NFT digital arts platform built by artists, for artists. LGND enables artists to integrate their work into the NFT market on their own terms, reach a global audience, and secure their digital legacy through blockchain technologies. LGND fosters dynamic interaction and exchange between high-end collectors and world-class artists.

 

Media Inquiries: Hijinx PR | Heidi Johnson | heidi@hijinxarts.com | 323.204.7246

 

---

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

via Bitcoin.com PR

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While Ethereum Prices Skyrocket, Ether Gas Fees Surge Fueling Costly Transfers

On October 29, 2021, the second-largest crypto asset in terms of market valuation, ethereum, reached an all-time price high at $4,467 per unit. Meanwhile, after the Ethereum network’s Altair upgrade went live, ether gas fees have skyrocketed significantly.

As Ethereum Tests New Price Highs, the Average Ether Transfer Fees Onchain Skyrocket

The two leading crypto assets by market valuation have had issues with high transfer fees for many years now but this month, Ethereum’s network fees are significantly higher than bitcoin’s. On Saturday, October 30, bitcoin’s (BTC) average network fee according to bitinfocharts.com data shows BTC fees are around 0.00000015 BTC per byte or $3.15 per transaction.

The same web portal tracking ethereum (ETH) gas fees notes that to move some ether, it’ll cost around 0.012 ETH or $50.53 per transaction. The data shows that on Saturday morning, ETH fees are 1,504% higher than BTC network fees. Data stemming from the website l2fees.info are a bit more modest in comparison to bitinfocharts.com’s metrics. At the time of writing, to move ethereum it’ll cost $18.45 per transaction.

The cost to transfer Ethereum-based tokens and swap tokens via a smart contract is much higher. The transfer of token fee according to l2fees.info on Saturday is $43.13 per transaction and over $94 to swap tokens by interacting with a smart contract. The lowest ether transaction fee of $18.45 is still 485% higher than the average BTC transfer today.

Second-Layer Ether Transaction Costs and Swap Token Fee Estimates

Moving ethereum with a second-layer mechanism like Arbitrum or Polygon Hermez is much cheaper to use than onchain ETH transfers on the main network. At press time, Polygon Hermez-based ether transactions cost around $0.25 per transfer, while Loopring’s Zkrollup L2 solution is $0.74. Zksync will cost a user $1.03 per send and leveraging Arbitrum One is around $4.21. The EVM-compatible Optimistic Rollup chain Optimism’s fees today are $4.31 per transaction.

Using Loopring to swap tokens on Saturday is also cheaper than the $94 average cost using Ethereum’s mainnet. Loopring’s swap tokens cost is $1.07, Optimism’s fee to swap tokens is $5.54, and Arbitrum fees to swap tokens can cost $7.29 according to today’s metrics hosted on l2fees.info. As ETH has reached an all-time high, onchain fees are higher than usual following the Altair upgrade, which preps Ethereum for the next proof-of-stake (PoS) transition.

What do you think about Ethereum network fees rising in recent times? Let us know what you think about this subject in the comments section below.

via Jamie Redman

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