October 8, 2022
ECONOMY NEWS
Unemployment (Reportedly) Falls to 3.5% | Likely Response by the Federal Reserve | Benjamin Cowan
https://www.youtube.com/watch?v=cL7dkdHS-2k
This is fake but official number will give them the green light to start raising interest rates much higher
How to Build a Fortune this Bear Market | Heresy Financial
https://www.youtube.com/watch?v=6rrqQbt8BJY
CBDC NEWS
https://files.catbox.moe/ghcskp.jpeg
YAHOO FINANCE - Ground-Breaking SWIFT Innovation Paves Way for Global Use of CBDCs and Tokenised Assets https://www.yahoo.com/now/ground-breaking-swift-innovation-paves-083000949.html
INVESTING.COM - SWIFT says it has reached a 'breakthrough' in recent CBDC experiments
COINDESK - SWIFT Says It's Proved It Can Be the Way Forward for Global CBDCs https://www.coindesk.com/business/2022/10/05/swift-says-its-proved-it-can-be-the-way-forward-for-global-cbdcs/
FXSTREET - US House Committee turn to DoJ for CBDC development as SWIFT resolves cross-border transfer hurdle
REUTERS - SWIFT sets out blueprint for central bank digital currency network
https://reuters.com/news/picture/swift-sets-out-blueprint-for-central-ban-idUSKBN2R00G3
(UK) Pension Funds Were Hours From Being Wiped Out | The Economic Ninja
https://www.youtube.com/watch?v=RiVCrhY3G4M
Kuppy (Hedge Fund): ESG & Other Bad Energy Policies Will Cause Worse Global Energy Crisis In 2023? | WallStForMainSt
https://www.youtube.com/watch?v=mTho_BYncZ4
CRYPTO NEWS
WHAT IS BITCOIN AND WHY IT HAS VALUE. BEST EXPLANATION EVER. | Digital Asset News
https://www.youtube.com/watch?v=8qc6h3fTB2I
A New Social Credit Score!? You Won't Believe What's Coming!! | Coin Bureau https://www.youtube.com/watch?v=Ub6zP6q25zk
- TIMESTAMPS -
0:00 Intro
0:46 Who Is Behind This?
4:53 Why Now?
8:42 The “Economic” Incentive
12:07 Carbon Credits Explained
16:34 Personal Carbon Credit System
19:30 How Will It Work?
23:32 When Is This Coming?
26:17 How To Prepare?
28:39 Will They Succeed?
31:42 Outro
How I'm Still Profitable After the Ethereum Merge | The Hobbyist Miner
https://www.youtube.com/watch?v=3szzI0m-IFc
BREAKING NEWS: Celsius just doxxed its USERS and their wallet addresses!!! | EchoesFromAbove
https://www.youtube.com/watch?v=LzEa_IEkMtM
Don't use Custodial applications like Celsius that take control of your crypto. Use Non-Custodial instead!!!
How to make Celsius whole - Simon Dixon presentation | Simon Dixon
https://www.youtube.com/watch?v=YC2hOXGBWOs
From Celsius to Cypriot banks, custodial risk is never as far away as you might think.
https://nitter.it/MELD_labs/status/1560295828396408833
Always choose Non-Custodial over Custodial holdings of your money and crypto!
Yahoo Finance - Why DeFi may be safer than traditional finance
https://nitter.it/MELD_labs/status/1561019228811141122
The European Central Bank @ecb has recently published a research paper titled “Towards the holy grail of cross-border payments” and is backing #CBDCs over #Bitcoin and other # cryptos.
https://nitter.it/MELD_labs/status/1560313843041312768
#DeFi loans are great, but with so many protocols it can be tough to decide which one is best🏆
In our latest post, we take a look at the best - names that include @MELD_labs & @AaveAave👇
#MELD #AAVE #Web3 #finance #fintech #ADA #ETH #BNB #bnbchain #BSC
https://university.despace.io/how-to-choose-a-cryptocurrency-loan-platform
CNBC - How will Crypto change the credit history landscape?
Full Ep: Is $SOL The Future of Crypto? | Real Vision Crypto https://www.youtube.com/watch?v=FrJ42MBsMA8
I would not trust this channel, almost like a Jim Cramer for crypto. Big finance is trying to dump off Solana to dumb money.
(3 Days Ago) Shocker! Solana experienced another outage. Meanwhile, Cardano is running smoothly like usual.
https://nitter.it/SolanaStatus/status/1576010340248084481
‘Solana Is Deceptively Designed to Falsely Inflate Usage,’ Alleges Crypto Researcher
https://beincrypto.com/solana-deceptively-designed-falsely-inflate-usage-alleges-crypto-researcher/
Solana Faces Criticism Over Failures and Controversies
https://crypto.news/solana-faces-criticism-over-failures-and-controversies/
CARDANO NEWS - Highly Decentralized Proof of Stake Running on an EUTXO Model
Cardano in less than 30 seconds | From Zero to Crypto #shorts #cardano #blockchain | From Zero to Crypto
https://www.youtube.com/watch?v=jKcYxzVDlWg
Cardano Basics - Founders, IOG & Core Blockchain Features | DApp Central
https://www.youtube.com/watch?v=JpihbZvMFMc
Explanation of Proof of Stake in 5 min | From Zero to Crypto
https://www.youtube.com/watch?v=EV6qlc1Z2kk
CARDANO: The Groundbreaking eUTXO!! (Revolutionary Tech Behind ADA) | Crypto Capital Venture
https://www.youtube.com/watch?v=Y1wZIlpQRj8
Live from Wyoming (AMA) | Charles Hoskinson
https://www.youtube.com/watch?v=mtIcX_xuKYs
Lace: a lightwallet platform | Input Output
https://www.youtube.com/watch?v=Q4Z83TSdEfg
A simplified full-node but lite wallet that is just the simplified design approach many are looking for. It will also reportedly allow voting for project catalyst on the app, see NFTs in your wallet (without having to go to pool.pm), be able to send multiple transactions to multiple wallets at the same time, and so much more!
Cardano updates on Decentralized Digital IDs and Lace Wallet (Optional and creates a credit history for under collateralized crypto loans) | From Zero to Crypto
https://www.youtube.com/watch?v=z0ecQV78Zq4
Charles Hoskinson update on projects in Africa | From Zero to Crypto #shorts #blockchain #cardano
https://www.youtube.com/watch?v=TDiAvClKIuY
Liqwid Labs Technical Status Update (Money Market Lending & Borrowing DeFi all in the secure Haskell programming language)
Technical Status Update #90
https://nitter.it/liqwidfinance/status/1578733785381998593
✅Tx-chaining optimizations to improve batching performance
✅dev ops infrastructure tasks in preparation for the public testapp launch
✅test suites for the completed parts of the liquidation and oracle scripts
MELD - ⛩ Akamon Cross Chain Bridge Security & Decentralization (Cardano to Polygon bridge)
🔒Cryptocurrency bridges and security 🤝Decentralization with node operators 🚀Akamon's impact on the MELD Ecosystem and more!
Read more on how Akamon will be secured👇
https://scribe.rip/meld-labs/akamon-security-decentralization-7a8dc8a2f7e5
Paribus Testnet MVP Released! (FIRST Look & COMPLETE Guide) | Dapp Central
https://www.youtube.com/watch?v=KDS2VO_78_c
Why This Cardano (ADA) dApp is Going to Be a Gamechanger for Education in Africa! | Convincing Crypto
https://www.youtube.com/watch?v=4aScc0eqrxg
DirectEd Development Foundation is building a dApp on Cardano for scholarship crowdfunding! Gianna discusses how they’re using NFTs and Atala PRISM to fund coding boot camps for students in Africa.
DirectEd Website: https://directed.dev/
The Final NTX Airdrop for AGIX Holders Is About To Begin
https://scribe.rip/nunet/the-final-ntx-airdrop-for-agix-holders-is-about-to-begin-5ec273003f94
Cardano Rumor Rundown October 7, 2022
https://teddit.net/r/cardano/comments/xxrt2k/cardano_rumor_rundown_october_7_2022/
Newly Covered Today:
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Pavia says it is putting in the work on completing the new map! https://nitter.it/Pavia_io/status/1578062289244233728
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Welcome to Basho, friends: “One transaction distributed 16,164 ada to 217 holders for a fee of 0.78173 ada”. https://nitter.it/IOHK_Charles/status/1578031473436741633
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NIDO is releasing his latest song and he says you can own part of the streaming royalties. https://nitter.it/OfficialNID0/status/1578128128328826912
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Binance Smart Chain was “suspended” due to a “potential exploit”. https://nitter.it/BNBCHAIN/status/1578152039455916033
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Pavia has released a roadmap through the end of 2023. https://nitter.it/Pavia_io/status/1577594191177302016
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You can now drive around in your Bison moon vehicles in Carda Station. https://discord.com/channels/908827661504237599/909005782790586379
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Reports are coming in that Celsius doxxed all of its users in a hearing filing? This followed reports that Celsius executives withdrew tens of millions of dollars shortly before the bankruptcy. https://nitter.it/LefterisJP/status/1578194883038232577 https://nitter.it/ForbesCrypto/status/1578173263036948480
Cardano (ADA) Adoption & Necessity | Cardano Insights | S₳PIEN
Timestamps:
00:00 - Intro
01:39 - World Mobile partnership
02:14 - Immunify.Life
03:06 - A great synergy
04:01 - Immunify.Life impact
06:16 - Immunify.Life why Cardano?
06:56 - Bigger picture perspective
09:01 - Some final thoughts
09:54 - Outro
ERGO BLOCKCHAIN - Proof of Work with Smart Contracts using EUTXO
A look at Ergo projects that have been made or are developing
It is important to distinguish SigmaUSD which is an algorithmic stablecoin running for a couple of years now and has never depegged. Ergo price would have to drop 75% in a short time (less than a day) to begin depegging the stablecoin. I encourage you to look further into it.
I highly recommend using tokenjay.app for interacting with the SigmaUSD system
SigmaUSD/ SigmaRSV (ERGO DEFI) Explained min wage style. | Cushty Crypto
https://www.youtube.com/watch?v=ASrLmrkDCgE
Another project called Guapswap allows you to swap your mined Ergo for another token on Spectrum.fi DEX before receiving your rewards (for tax implication purposes). Essentially miners can be paid in any token they want.
Crypto Mining | GUAP$WAP | episode #01 | Sigma Prism
https://www.youtube.com/watch?v=cy0R1wP3YsQ
Ergomixer is a decentralized token mixer. Everyone running Ergomixer is running a full node and therefore can't be shut down or centralized like other token mixers.
https://github.com/ergoMixer/ergoMixBack
Another interesting one is Getblok Smart Mining Pools
The most secure cross-chain bridge protocol I've seen so far - Rosen Bridge. Bridging first from Cardano to Ergo
Dev Update March 29 | ROSEN BRIDGE | New Bridge Framework Explained | Ergo Platform
https://www.youtube.com/watch?v=Xsiy-yPJQ6w
Ergo Business Manager Joseph Armeanio talks us though the new bridge framework - Rosen Bridge. In this first video in the new series of Dev Updates, Armeanio goes into more detail on a single 'core' feature of ergo. We hope you like it and find it educational. Let us know your feedback in the comments!
00:00 Intro
01:36 Transferring tokens from ChainX to Ergo
08:36 Transferring tokens from Ergo to ChainX
12:02 Summary
13:55 Ergo-centric
14:54 Secure
15:52 Flexible
16:53 Scalable
18:08 Benefits
Dev Update Oct 2, 2022 | Rosen Bridge Soft Launch, SwampAudio, BlitzTCG and more!
https://www.youtube.com/watch?v=-kcS7bmucXM&t=629
Rosen Bridge has done a soft launch on September 26, 2022 and is ready for the public very soon.
It very well may double or triple in the future.
My honest opinion is I think ETH is not a good investment at all. If it doubles or triples that means several other viable projects will 10x or even 100x.
First of all, the ETH 2.0 upgrade moving ethereum to proof of stake leaves it very vulnerable to a 51% attack
It just takes 2 top stake pools (LIDO and Coinbase) joining together to control 46% of the entire Ethereum network in post merge Ethereum.
https://nitter.it/santimentfeed/status/1570339602346684416
Kraken is the 3rd largest (American crypto exchange like Coinbase) and together these 3 stake pools control over 60% of the network.
If these 3 staking pools secretly joined together, they have the power to change the Ethereum ledger and route money from addresses wherever they see fit. This is very unlikely to happen as once its discovered the price of Ethereum will drop immediately but this is extremely worrisome to even have thay capability.
Cardano meanwhile would need the 20+ top stake pool groups to come together to cause a 51% attack. Take a look at their Nakamoto Coefficient (the number of stake pools groups needed to come together to do a 51% attack)
https://datastudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/p_9vyfu6gorc
These are some of the best numbers for decntralization in Crypto and much better than Ethereum or Bitcoin. Binance, XRP, Solana are all centralized platforms anyway (not what I consider crypto).
Second, it takes 32 ETH along with your own computing equipment to set up your own stake pool (about $42k for the ETH right now without buying the stake pool equipment). If you don't have 32 ETH you can stake in LIDO stake pool (currently the biggest stake pool on ETH 2.0). You will have to setup a smart contract and LIDO will have custodial ownership of your funds. If LIDO has any kind of screwup on their network, their funds are slashed (meaning taken away) and you can lose all of your ETH. Extremely Bad! Same if you do something wrong on setting up a Stake pool with 32 ETH, if you have any screwup in running your stake pool, your funds get slashed and you can lose your ETH. Someone correct me if I'm wrong but I think if the power went out on a stake pool it could all (or a good portion) of its funds slashed.
In Cardano it takes 3 Ada to start Staking (2 Ada deposit for initial staking given back when you take your crypto out of the staking pool). Many stake pools were running until recently on a $100-200 Raspberry Pi 4 (too lazy to look up price). Staking is non-custodial meaning your funds can't be taken from you. Think of your ADA coins as votes used for the Cardano network to randomly pick a stake pool to process transactions. The more ADA coins voted on that stake pool, the more likely that stake pool gets picked to process transactions, get fees, and some newly minted ADA all divided up between the stakers and that stake pool.
Third, ETH 2.0 upgrade doesn't fix failed transactions and fee. I lost $300 December 2021 because of fees paid to failed transactions on the Ethereum Network. Now you can go down more rabbit holes and use networks like Polygon or LoopRing but that's a whole other headache for regular investors. You expect Ethereum to work and when it eats your money away your left stunned and furious why anyone would use it.
The failed transactions is due to the accounting model. When several transactions are taking place at the same time on the Ethereum system, 2+ transactions that happen at the same millisecond will cause one to go through and the others booted with their fees being taken. This is because in the accounting model the entire blockchain is taken as a global variable in the transaction which is very inefficient with the way the transaction itself is handled and the amount of energy needed to process that transaction (even on ETH 2.0)
Fourth, many hacks happen on Ethereum because of the Solidity programming language used and because of a lack or certication & standards for dApps. Cardano addresses this
https://iohk.io/en/blog/posts/2021/10/25/new-certification-levels-for-smart-contracts-on-cardano
but Ethereum is not even though Ethereum is a much larger network with more money flowing through its networks.
Cardano does things more slowly than people may like but once its built it never breaks. They use Haskell Programming language that automatically stops many bugs from compiling in Haskell that can run in Ethereums Solidity smart contracts. It also takes less resources to audit and secure Haskell programs (which are more strict, less expressive) than Solidity ones (which are more expressive, but also more open doors).
Fifth, a couple of stake pools in Ethereum were already hacked last summer and all of their money drained out. I would never trust them just from this alone. It will take me a minute to find the articles on the 2 stake pools that were hacked last summer (had to use web.archive.org because their links were taken down, takenote of this).
(June 2021) StakeHound, the second biggest ETH 2.0 staking pool lost their users' private keys. 38,178 ETH (~$75m) is lost forever. Not your keys, not your coins!
http://web.archive.org/web/20210623111111/https://ourbitcoinnews.com/lost-access-rights-worth-8-billion-yen-worth-of-ethereum-entrusted-or-major-custody-fireblocks-are-sued/
Cardano (ADA)'s Best Salesman is Ethereum | Cardano Rumor Rundown #99 | Army of Spies
https://www.youtube.com/watch?v=MEvHS72K3Wo
People are starting to realize that the Stakehound private key loss in ETH may attract unwanted regulatory attention to Ethereum 2.0 while this problem could never have occurred in Cardano. Also, only a few days later another ETH stakepool (this time SharedStake…the sixth biggest ETH Stakepool) allegedly experiences a rugpull that some are valuing at over $30MM. This is another problem that could not happen in Cardano staking. It feels like we stepped into the ring, they rang the bell, and ETH just started punching itself in the head. Eventually it’s going to KO itself.
https://nitter.it/Madror7/status/1408505144984051716
https://archive.ph/GzDmu
https://nitter.it/JamesSpediacci/status/1407761823143645189
https://archive.ph/ncg1i
https://nitter.it/MeiTrades/status/1408117430656905219
https://archive.ph/5xYGW
http://web.archive.org/web/20210625212610/https://sharedstake.medium.com/the-sharedstake-story-by-kairos-44d37aa7837a
Cardano (ADA) Watching ETH KO Itself | Cardano Rumor Rundown #102 | Army of Spies
https://www.youtube.com/watch?v=ELgoHFPYce4
Sixth, They've been planning "The Merge" of bringing Ethereum to Proof of Stake since 2015 and talking about releasing it all the way back in 2016. This is all just to become an inferior proof of stake compared to Cardano which released in 2020. It took Ethereum developers 7 Years to move to proof of stake.
https://files.catbox.moe/uea6n1.mp4
Seventh, Ethereum started burning their ETH coins in every transaction to make it a "deflationary currency". All this does is create more speculative investors and less people using projects because they think "the value of Ethereum will go up the longer I hold because there will be less coins in the future".
What makes ETH valuable? The projects built that use the Ethereum network. When you burn coins during every transaction, that gets people in the mindset of just hoarding their coins and not using them in projects. That means projects on Ethereum become dead over time. That means the value of Ethereum becomes dead.
On their current path, I think Ethereum will be a dead ecosystem in 5-10 years where you will still have Bitcoin, Cardano, and others.
Eighth, Vitalik Buterins future Ethereum roadmap released on the Bankless podcast episode stated he planned to centralize many entities important to the Ethereum Ecosystem in the future. One of the biggest points I remember was he plans eventually to have only 1 centralized entity have a complete copy of the Ethereum blockchain. The rest of the nodes would be running a part of the blockchain up to a certain point in time.
99 - Endgame | Vitalik Buterin
https://www.youtube.com/watch?v=b1m_PTVxD-s
This also with the fact that he did not state any plans to address growing increase in costs that would be increasing for stake pool operators. No plans made to make things more efficient in increasing blockchain size.
Xrp uses a unique distributed consensus mechanism to validate transactions in which participating nodes verify the authenticity of a transaction by conducting a poll. This enables almost instant confirmations without a central authority.
Xrp is not as centralized as some would argue.
Thats interesting, I'm not as familiar with XRP. Do you have a link that describes their consensus mechanism more?
Here's a discussion https://www.reddit.com/r/Ripple/comments/kmdjma/how_decentralized_is_xrp/
Back in 2019 ripple was supposed to own 21%.
Thank you! I'll need to do a deep dive post on XRP then
I have a lot of XRP articles saved related to the SEC case
Thank you, I appreciate you taking the time to inform me. Maybe I'll stick to an index fund...
I would suggest (not financial advice, jusy my opinion) Cardano, Polkadot, Algorand, Bitcoin. But most strongly Cardano.
Stay out of stocks and wall street to clear way of the crash.
Crypto will go down with stock market but not as far down. DeFi allows automated lending and borrowing making banks obsolete. When the Federal Reserve increases interest rates, DeFi will have more competitive interest rates. With Cardano's Atala Prism Decentalized IDs, they will begin to have a credit history which will allow the beginning of under collateralized loans on crypto DeFi. Businesses will jump into crypto as a last ditch effort to not go under.
Cardano and Algorand are 2 of the most user friendly Cryptos with proof of stake and smart contracts. Take a look at them when you have the chance.