Modern Economic Nonsense — The Bitcoin reserve is coming Digital currency Bitcoin has been around for almost 12 years. After all this time, we’re still wondering when the first Bitcoin exchange will go live. The wait for an exchange isn’t as long as it was back in 2014. Back then, there were only a handful of digital currency exchanges that supported BTC trading. Thanks to blockchain technology advancements and more regulated markets, the landscape has changed massively over…
Modern Economic Nonsense — Payment apps move away from the fiat currency The world’s financial system is becoming increasingly digital, and numerous payment apps are cashing in on the trend. PayPal, Chase QuickPay, and American Express are just a few companies offering digital wallet solutions to make it easier for consumers to pay with their cards. These types of solutions can be beneficial for those who don’t have bank accounts or access to a brick-and-mortar location.…
Modern Economic Nonsense — Web3 continues building despite the bear market The current bear market has been very hard on many projects, especially those that are not meant for a quick success. As a result, many projects have decided to cease development and wait until the market turns back. Some have even gone as far as closing down entirely. However, not all of them have given up or accepted the market conditions. Some projects have continued working despite the bear market…
Modern Economic Nonsense — Banks are seeking shelter in cryptocurrencies Cryptocurrencies have grown in popularity over the past few years. With this rise, so has the use of these digital assets by major retail financial institutions and investment firms to store value or trade. And it isn’t just small credit unions that are getting involved either. Big name institutions such as Citibank and J.P. Morgan Chase have announced plans to offer their own cryptocurrency services…
Modern Economic Nonsense — Inclusive blockchain The world of cryptocurrencies has broadened in the past year. With more and more companies adopting blockchain and virtual currencies, the industry has become more inclusive. The blockchain is the digital ledger that records all cryptocurrency transactions. It’s decentralized so no one bank or company controls it. The result is a cheaper, more secure system for recording transactions and a marketplace where anyone can…
Modern Economic Nonsense — Time to reinvent cryptocurrencies Cryptocurrencies have been popular but also problematic. Banks and other financial institutions have been reticent to engage with them, while the general public has not grasped their underlying value proposition. They need to be reinvented from the ground up to solve these issues. We can start with three essentials: tech, adoption, and trust. It’s true that technology plays a central role in cryptocurrency…
Modern Economic Nonsense — Crypto companies' bankruptcy wave is healthy Crypto markets are in a bearish trend with prices dropping continuously over the past few months. The market had been on a bull run for most of 2021, and sustaining such price increases is no longer possible. As prices drop, crypto companies that have kept their operations going by selling assets, or keeping afloat with venture capital, will get hit harder than others. Crypto companies with a sound…
Modern Economic Nonsense — The Bitcoin mining company is not profitable Cryptocurrency mining is a complicated business. Apart from the ever-increasing operational cost, it is also capital-intensive. A mining company needs to purchase hardware such as ASIC machines, power suppliers, and other essential components. As the price of these items continues to rise, so does their cost of operation. Mining companies that cannot operate at an optimal cost or cannot secure enough…
Modern Economic Nonsense — Crypto attracts more talents in the current market Cryptocurrencies have emerged as one of the most popular financial assets and a new career opportunity for people interested in a lucrative field but lack formal training or education. The crypto market has attracted various new investors, traders, engineers and designers from all walks of life. Individuals passionate about exploring this fast-growing industry are now free to get into blockchain…
Modern Economic Nonsense — Why Bitcoin Maximalism will fail The idea of a digital currency that can be used for payments is a very compelling one. Financial inclusion has become a major focus of the developing world, and many companies are trying to solve the problem through digital currencies. The most well-known is probably bitcoin, but there are several altcoins as well. However, as with any new technology, there are two primary challenges: educating people about it and…
Modern Economic Nonsense — Gaming culture and crypto For many years now, the gaming industry has been on a mission to reach as many people as possible. To do so, they have innovated their way of connecting with their audience. One such innovation was the introduction of virtual reality (VR) and its subsequent use in gaming. VR made games immersive and gave them a much-needed edge by allowing players to experience things from different perspectives. This led to new business…
Modern Economic Nonsense — Global crypto regulations are coming Cryptocurrencies aren’t going away anytime soon. That much is certain. According to a report by CryptoCoinsNews, the number of existing digital currencies has surpassed 1,500, which is only expected to increase in the following years. However, the latest news from authorities regarding cryptocurrencies and their impact on society is mixed. Governments are still trying to determine what exactly cryptocurrencies…
Modern Economic Nonsense — Decentralization may not work as everyone expects it would When it comes to decentralization, most people agree that the more power a network has, the better for its users and other network participants. After all, a centralized system controls one or more individuals or organizations that can make decisions on behalf of everyone else. However, with the increasing use of blockchain technology and decentralized networks worldwide, we are seeing an…
Modern Economic Nonsense — Government opens ideas to the public about cryptocurrencies The US government opens a public discussion about cryptocurrencies and their future. Moreover, it opens the door to inviting the crypto industry to solve future fiat currency problems. **Background** The government’s decision to open a consultation period with the public about cryptocurrencies is a necessary move towards regulation in their country. It’s an important step in the right…
The latest crypto secret weapon - Hyper-personalize shopping Retailers always look for ways to increase customer loyalty, drive sales, and remain competitive. One way is through digital rewards programs to incentivize customers to keep coming back by rewarding them with points or other perks when they shop at that store or chain. But not all digital rewards programs are created equal, and many retailers have struggled with them because of the limitations of traditional…
Russia Prohibits Crypto as a Legal Payment (What are the Consequences?) Russia has prohibited cryptocurrency as a legal payment. This news is a serious blow to the crypto market, especially concerning the fact that this is one of the biggest markets for digital currencies. The bill "On Digital Financial Assets" was signed by President Vladimir Putin in January 2021 and brought significant restrictions on using cryptocurrencies in Russia. And the bill comes in fall will close…
Cyber criminals using crypto mixing services are booming The world of cryptocurrency is growing exponentially, but with this new popularity comes a rise in cybercrime. New virtual currencies such as Bitcoin make it possible for users to transfer money without intermediaries or third parties. This process is called “crypto mixing” and involves assigning digital tokens, so the final receiver appears to be a different user, concealing their real identity. A study by Cisco…
The Next Frontier of Gaming: Introducing the Metaverse Virtual gaming is currently a $20 billion market. And it continues to grow—exponentially. The reason for its explosive popularity? It allows users to escape the real world and enter an alternate digital universe where their every fantasy can be realized. And now, with the emergence of blockchain technology and VR/AR, we’re on the precipice of a new frontier: the metaverse. The metaverse is a digital extension of the real…
Crypto VC becomes so chaotic Nothing is as it seems on the surface in recent market. For example, three Arrows Captial (3AC) worth $2.8B was liquidated, and co-founders ran away while filing a lawsuit to against their own company. But this will only be the tip of the iceberg for the crypto industry at large. On one side are those who see opportunity in cryptocurrency; on the other are those intent on destroying it. I will share some changes that will affect the blockchain…
We are heading into the debt crisis and crypto can help The global financial crisis and its aftermath have had a major impact on digital-first startups. Global finance is entering a great debt reset. More debts are created faster than any nation-made credit. How can this sustain growth in the future? The stunning success of Facebook, Google, and other smartphone platforms has driven startups to abandon traditional marketing and digital platforms in favor of their respective…
How Three Arrows Capital Missed Every Target They Aimed Three Arrows Capital (3AC) just wiped out its investment capital of nearly $3 Billions in months. The cause of the collapse like through high leverage decentralized finance (DeFi) and high debt ratios. Let's explore why 3AC instantly collapses. **Founders** Su Zhu and Kyle Davies are the founders of 3AC. The company was founded in 2012 to provide superior risk-adjusted returns. Ironically, the risk did not adjust…
55% completion of Ethereum 2.0 means an unfinished product Ethereum is a popular cryptocurrency and digital token that can be used to build decentralized applications. However, its primary use case as of late has been in the Ethereum platform itself. Ethereum is a public blockchain-based platform that can be used to build decentralized applications such as smart contracts. Smart contracts are computer programs that run on a virtual machine called an “Ethereum node,” where…
The dollar is ever stronger The global financial crisis has permanently altered the face of finance. When the global financial crisis hit in 2008, many financial institutions, including banks and credit card issuers, were hurt. But even though many banks are still reeling from the impact of the crisis, it's unknown how much longer they'll be able to operate normally. Unfortunately, the global financial turmoil has also proven to be a blessing in disguise for products like…
When Crypto gets into politics The digital world has become a vibrant scientific presence. Adopting new digital tools and platforms has accelerated the pace of innovation. But even with these positive developments, the government remains cautious about using digital technology in political campaigns. In this article, we look at how cryptocurrency is changing politics and how it could benefit elections in the future. We'll be heading into the voting season with many nations…
Bitcoin Reduces Cost Of Living With the cost of living increasing yearly, Americans are forced to spend more than ever on things like housing, medical costs, and food. In light of this, reducing one’s expenses has become a top priority for many people. Therefore, reducing one’s cost of living is a wise strategy that can go a long way toward significantly improving your life. While it may seem counter-intuitive initially, reducing one’s cost of living directly translates into…
Free education in crypto The digital age enables new ways of creating value unimaginable a few years ago. Today’s digital economy, especially the increasing use of virtual and blockchain-based platforms, has resulted in an explosion of digital education options. From learning mobile apps to complex topics like finance or medical terminology, people are turning to computers and devices as a source of learning instead of books and lecture halls. The general public is also…
The banking system rules out the crypto market threat There's been a lot of "how-to" advice floating around the crypto space regarding what digital coins should and shouldn't do. However, it's not just the newest versions of Bitcoin or Ethereum that need to be updated; institutional investors looking to reduce or eliminate their exposed capital position have also seen an alarming increase in digital currencies. Many of these initiatives have centered around the banking…
The US Stablecoin Bill is coming soon Yes, we are talking about the United States Stablecoin Bill. It’s a plan that will gradually regulate the stablecoin peg with U.S. dollar reserves via central bank-issued CDBCs. The aim is to end the current fiat domination financial system, creating a diverse nationwide banking system with centralized clearing and settlement centers. The Stablecoin Bill will implement these changes along with regulations to restrict the assets that can…
MetaMask Ethereum Wallet update to prevent scams MetaMask just announced its update on 07/27/22. This update is critical because it will prevent "Wallet Drainer". https://twitter.com/wallet_guard/status/1552329047836966915 **What is Wallet Drainer** Wallet Drainer is a way to attack the wallet that, through the smart contract and links NFT project with other wallets without admitting approval from the individual signature required to each wallet.…
We are in a recession, no doubt?! Are we in a recession? Well, it depends on who you are talking to. https://twitter.com/countdraghula/status/1552862669300191234 The traditional view is when there are two consecutive quarters of decline in a country's real gross domestic product is commonly used as a practical definition of a recession. https://twitter.com/TickerHistory/status/1553059921758928899 https://twitter.com/bennyjohnson/status/1553023819870257152 But, the definition…
How high leverage crypto lending market collapses As the number of crypto lending projects increases, the demand for high-quality banks in this space has also increased. However, the current market is in a tailspin and not much can be done about it. Like other asset markets, such as stock and bond trading or real estate development, the crypto lending market faces multiple headwinds: low-interest rates, rising competition, and regulatory uncertainty. Traditional lenders are…
What Metaverse?! Mark Zuckerberg may be right about the future of the Metaverse, but his company went a completely wrong way to define the path of his vision of the future. https://twitter.com/VitalikButerin/status/1553526863783657472 **What is a Metaverse?** https://twitter.com/stratorob/status/1553805426155831296 There is no clear definition of what a Metaverse is. It instead puts what is tending and combine all in one. It has become a buzzword after all. One popular…
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