BITCOIN, Ethereum, Alt coins, Shiba Inu and Dodge coins took the crypto market by storm in 2021.
All have boomed this past year.
When it comes to Bitcoin, what remains is just 6.3 percent of the total supply and is the lowest recorded in 2021, according to CoinTelegraph.
Meanwhile, TribeOne, the first AI-powered NFT & DeFi funding platform, has been launched, with a press release from NewsFile reporting, “This seamless platform provides users access to NFT lending products, innovative DeFi products, zero-to-low collateralized loans, saving & investing products through a single platform.”
This all comes as Shiba Inu coin had risen in value by Friday morning, with Bitcoin seeing gains as well.
Shina Inu’s value was up about more than 6 percent as of 9am on Friday morning, according to CoinBase.
Bitcoin had gone up by about 5 percent in the past 24 hours at the same time, according to CoinBase.
Read our cryptocurrency live blog for the latest news and updates…
What is the Metaverse, continued
Meta’s VR boss Andrew Bosworth said: “The metaverse is a set of virtual 3D spaces where you can share immersive experiences with each other when you can’t be together.”
“What comes after the internet? Instead of looking at a screen, you get to be in the experiences.
“You don’t have to experience it in VR. Most people initially will experience it on screens they already have.”
Facebook’s Mark Zuckerberg called it “the next version of the internet,” and predicted the true metaverse will be ready within the decade.
What is the Metaverse?
The Metaverse has a broad definition. It is an internet, but it is immersive – so you live within it.
The platform will have games, social networks, videos, shopping, health and fitness and more.
Risks of Robinhood, part three
In July, the platform was also ordered to pay nearly $70million in fines and compensation for misleading customers and outages.
If you are seeking a discount broker and are looking to open an IRA account, you can check out the following platforms: Vanguard, Fidelity, TD Ameritrade, Merrill Edge, among others.
Risks of Robinhood, part two
For investing individual stocks, make sure you check company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.
Another risk when choosing Robinhood along with other brokers is that they can restrict trading when there’s unusual activity.
In fact, Robinhood faced some outrage earlier this year when it restricted trading on meme stocks including GameStop and AMC.
Risks of Robinhood
When it comes to risks, investing alone is one because you’re not guaranteed to generate a profit and the value of your assets could fall.
If you choose Robinhood to trade stocks and cryptocurrencies – then the game gets even riskier.
Cryptocurrencies are not only difficult to understand but even tougher to predict when bearish trends in the market will take place.
For example, cryptocurrency was thriving this year up until Elon Musk said that Tesla was halting the acceptance of payments in Bitcoin.
US cities embrace cryptocurrency, part two
The mayor of Miami is also working to expand cryptocurrency options in the Florida city.
Mayor Francis Suarez said he would take his paychecks in Bitcoin and wants residents to be able to pay fees and taxes in the cryptocurrency.
Miami launched a token earlier this year called MiamiCoin, which generated $30million in revenue over three months, Suarez told Bloomberg News.
US city embraces cryptocurrency
A Tennessee city hopes to become the first in the nation to offer its employees cryptocurrency as a payroll conversion option.
The Jackson Sun reports that a request for proposal (RFP) has been opened, allowing third party platforms to apply to be the city’s cryptocurrency converter.
“We offer our employees a deferred compensation opportunity for their retirement already. Why not add more options?” the mayor told the news outlet.
He said the move will diversify ways city employees can receive payment and allow the city to pay contractors in Bitcoin.
Gifting NFTs and digital assets, part two
Some young investors are looking forward to gifting friends their first digital asset this year.
A San Francisco-based 26-year-old told CNBC that she plans to gift close friends and family digital assets like Ethereum Name Service (ENS) domains and NFTs.
A domain for the Ethereum blockchain represents an investor’s cryptocurrency address, appearing like “YourName.eth”.
It’s personalized rather than the random string of letters and numbers that typically signifies a user’s wallet.
Gifting NFTs and other digital assets
Young investors told CNBC that they plan to gift cryptocurrency, NFTs and other digital assets this holiday season.
A 23-year-old from San Antonio, Texas, said she will get her sister and parents an NFT of a digital land lot to share in the metaverse.
She also plans to buy collectible NFTs from projects that aim to empower women, like World of Women and Crypto Coven.
The digital gifts could cost thousands of dollars depending on factors like metaverse game, demand, and size, CNBC reported.
NFT sold way under intended price
The owner of a Bored Ape non-fungible token (NFT) accidentally sold the virtual art for $3,000 instead of $300,000.
One of Bored Ape Yacht Club’s 10,000 limited editions, the NFT was initially purchased by an automated account that instantly put it back up for sale for nearly $250,000.
The seller told CNet that he meant to list the price at 75 Ethereum (ETH), the preferred cryptocurrency for making NFT transactions.
After making many online trades that day, he said he suffered from a “lapse of concentration” which caused him to type in “0.75 ETH.”
“I instantly saw the error as my finger clicked the mouse but… it was instantly sniped before I could click ‘Cancel’ – and just like that, $250,000 was gone,” he said.
What are Altcoins, continued
Simon Peters, crypto-asset analyst at eToro, said: “They build on the success of bitcoin by slightly changing the rules, economics or use cases to appeal to different users.”
“Altcoins vary greatly in their use cases and practical application. They typically have a form of technology they underpin or provide a liquidity solution to a product or service.”
What are Altcoins?
Altcoin stands for alternative coin, a type of virtual currency that uses the so-called blockchain to allow secure transactions.
Altcoin is a category of cryptocurrency rather than a currency itself, and there are more than 900 different altcoins available.
What is fiat?
If you’ve ever seen the word fiat used in the cryptocurrency world, know that it was not in relation to the car brand.
Fiat is a term used to refer to government-issued currency.
Cryptocurrency, or virtual money like Bitcoin, is not backed by governments or standards typically associated with fiat, which is why investors warn of crypto’s volatility.
Dogecoin spikes after Tesla news
Dogecoin saw a more than 20 percent jump after Elon Musk announced Tesla would start accepting it as payment.
He said in a Tweet that Tesla would allow purchases of some merchandise with Dogecoin and “see how it goes.”
Dogecoin went from a fraction of a penny in worth at the start of 2021 to a record-high price above 74 cents in May, CNBC reported.
China’s crackdown ‘big opportunity’ for US
China’s crackdown on cryptocurrency transactions “is a big opportunity for the U.S.”, according to Pat Toomey, the top Republican on the Senate Banking Committee.
This comes as the US Securities and Exchange Commission lobbied for more regulations when it comes to cryptocurrency.
China’s crackdowns on crypto
While crypto creation and trading have been illegal in China since 2019, further crackdowns this year by Beijing warned banks to halt related transactions and closed much of the country’s vast network of Bitcoin miners.
The previous statement by the central bank sent the strongest yet signal that China is closed to crypto.
China’s statement, continued
Bitcoin, the world’s largest digital currency, and other cryptos cannot be traced by a country’s central bank, making them difficult to regulate.
The crypto crackdown opens the gates for China to introduce its own digital currency, which it is already working on and will allow the central government to monitor transactions.
China’s statement on cryptocurrency
The PBOC said it will “resolutely clamp down on virtual currency speculation, and related financial activities and misbehaviour in order to safeguard people’s properties and maintain economic, financial and social order”.
It said that trading of virtual currencies had become “widespread, disrupting economic and financial order, giving rise to money laundering, illegal fund-raising, fraud, pyramid schemes and other illegal and criminal activities.”
China stopped its crypto exchanges
In 2017, China shut down its local cryptocurrency exchanges.
Despite the war on crypto, Chinese mines power nearly 80 percent of the global trade in cryptocurrencies.
Russia considers crypto ban, part two
The proposed ban on cryptocurrency investments comes as Russia was said to be working on its own ruble-backed digital currency.
Roughly $5billion in crypto transactions take place in the country annually, and nearly 12 percent of the population may already own crypto, according to Fortune.
That was compared with a little more than 8 percent of the US population that owns crypto.
Russia also reportedly invested in crypto in 2019 to limit the impact of sanctions over meddling in the 2016 US Election, Fortune reported.
Russia considers crypto investing ban
Russia’s central bank is reportedly looking to ban cryptocurrency investments amid its longtime skepticism of digital currency.
The ban by the country’s financial authority would prevent future transactions, Fortune reported, but it wouldn’t require current holders to divest their portfolio.
The central bank gave digital currencies legal status in 2020 but did not authorize their use as a means of payment, according to Fortune.
Donating with cryptocurrency
Churches are starting to see more donations made using cryptocurrency, according to Christianity Today.
James Lawrence told the news organization that donations made on his platform Engiven using the virtual currency were slow in 2019 and 2020.
By fall of 2021, the platform had processed cryptocurrency donations for more than 700 nonprofits.
The list of recipients includes well-known organizations like The Salvation Army and Ronald McDonald House Charities.
Up to 400 recipients were churches, Lawrence said, as more congregations move to accept the digital currency.
Sending cryptocurrency on WhatsApp
WhatsApp, a popular messaging app, is testing a cryptocurrency payment feature for some users in the US.
Meta, formerly known as Facebook, owns WhatsApp and is letting some users send and receive Pax Dollars.
Pax currency is deemed a “stablecoin” because it’s connected to the US dollar.
The feature is powered by Novi, Meta’s digital wallet.
According to Novi, making payments will be easy, like sending other kinds of attachments in WhatsApp.
There’s no word on when the cryptocurrency payment feature might roll out to more users and countries.
Why is Bitcoin bad for the environment?
The problem surrounds the amount of energy used to mine a single Bitcoin.
Computers are needed for complex mathematical calculations to put a new Bitcoin into circulation online.
This process is also known as mining.
A lot of energy is needed for Bitcoin mining and some experts are concerned that vast amounts of fossil fuels are being used to create this energy.
Play-to-earn gaming, part two
The new play-to-earn gaming model that rewards gamers with cryptocurrency for playing isn’t technically free.
Gamers could have to spend $1,000 or more in order to start earning in the Axie Infinity universe, according to Forbes.
The popular platform for play-to-earn gaming requires beginners to have three “Axies,” which are available for purchase on the game’s Marketplace Dashboard.
Participants can then earn cryptocurrency for selling potions, breeding rare Axies, and playing various games.