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mostlysignssomeportents · 4 years

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Understanding the aftermath of r/wallstreetbets

A couple days back, I wrote up my best understanding of what happened with /r/wallstreetbets and meme stocks like Gamestop, trying to show how all the different, seemingly contradictory takes on the underlying financial stuff could all be true.

https://pluralistic.net/2021/01/28/payment-for-order-flow/#wallstreetbets

In the days since, a new series of contradictory takes has emerged, these ones disputing the meaning of this bizarre financial spectacle, and likewise what response, if any is warranted as it unfurls.

I think that all of these takes can also be true, and as with the trading itself, reconciling them requires that we widen the frame.

Let's start with Jimmy Carter.

In 1978, Carter's IRS created the 401(k), a tax-sheltered account for people who wanted to gamble on stocks to fund their retirement.

That was a fringe proposition at best.

The normal retirement system was a "defined benefits" pension where your employer guaranteed you a certain monthly percentage of your salary from retirement to death.

The vast majority of Americans wisely prefered a guaranteed payout to a tax-advantaged gambling account.

Obviously, right? On the one hand, you have the guarantee of a pension (maybe even inflation-indexed); on the other, you have a bunch of bets, that, if they go wrong, leave you literally homeless and starving.

When gamblers remortgage the family home and cash in the kids' college funds to play the tables, we consider them to have a mental illness, a pathological condition that harms them and the people around them.

Giving up a defined benefits pension in favor of a 401k is just the same kind of bet - staking all the money that will support you when you exit the workforce on the movement of stocks and bonds.

Who would do that voluntarily?

Pretty much no one. But the transition from defined benefits to 401k was not voluntary. Finance ghouls like Ethan Lipsig wrote memos to major employers like Hughes Aircraft showing them how they could ditch their pension obligations by moving workers to 401ks.

In the 80s, Reagan created a bunch of legal tools that allowed employers to coerce their workforces into giving up the security of a pension and force them into gambling their salaries on the prayer of a win in the markets.

This was insanely, amazingly great for the finance sector, in three ways:

1. It made companies more profitable. Guaranteeing that the workers whose labor made your company viable wouldn't spend their dotage starving and homeless is expensive.

Helping fund wagers on shares is much cheaper. The finance sector represented the major shareholders of the companies that transitioned to 401ks. The savings were transferred to these shareholders and the finance sector got commissions.

What's more, this temporary inflation of share prices disguised what was going on with the pension switcheroo: workers' defined benefits pensions were liquidated and turned into stocks, just as stocks were going up because their pensions had been liquidated!

Their legs had been amputated out from under them, but so subtly that they didn't yet feel the pain - and now their bosses cooked their legs and snuck them into their dinner, and everyone marveled at how full they felt after that hearty, meaty meal.

2. 401ks brought a lot of suckers to the table. The market was - and is - dominated by "sophisticated investors," AKA predators, who knew all the ways to fleece the rubes who had no idea how any of this worked.

The predatory nature of finance only increased over time. Hedge funds, for example, exist to find unethical practices that are legal (thanks to loopholes in the rules) and exploit them until they are illegal.

3. 401ks created a political force outside the finance sector that would lobby on its behalf. Transforming America into a nation of stockholders meant that workers had to choose between supporting rules that protected their jobs and rules that protected their retirement.

For your pension account to grow, you had to support policies that permitted finance ghouls to offshore your job, or misclassify you as a contractor, or eliminate the safety rules that prevented you from being maimed, or take away your right to sue for compensation.

Every time there's a particularly ghastly bankruptcy driven by PE or hedge funds - Toys R Us, Sears, etc - it emerges that at least some of that money is coming out of a union pension fund.

That's marketization - turning the once obscure, boring business of market-based capital allocation into a matter of import to everyday people.

Marketization begat financialization.

While marketization is primarily about capital allocation (who gets what money), financialization is about bets. Sometimes those bets are about things - businesses, houses, coal and timber - but things are limited. Mostly the financial market consists of bets on other bets.

Bets are infinite. Every time you make a bet, you create inventory for a market in a bet on the outcome of your bet. And that's inventory for a new market: bets on the outcomes of bets on the outcomes of bets.

It's called Wall Street Bets for a reason.

Bets need referees, someone who decides who the winner is. In sports, it's a major scandal if a referee is caught wagering on one of the teams in a match. In the financial markets, it's the norm - referees that lay wagers on the outcome of the contest they're overseeing.

Let's take stock:

Workers are forced to play the casino, and if their bets fail, they spend their old ages homeless and starving;

The vast majority of casino games are wholly abstract - bets on bets on bets - and require layers of refs;

the refs are all crooked.

Every couple of years, we have a massive, systemic financial crisis, and every time that happens, the finance sector lobbies for a no-strings-attached bailout, abetted by suckers who hate the finance sector but fear starving in their old age.

We're about to be engulfed in the second-largest crisis of our lifetime - the reckoning from trillions in capital market gains propped up by the Trump administration's policy of buying all corporate debt as a covid stimulus.

https://pluralistic.net/2020/09/28/cyberwar-tactics/#aligned-incentives

(the largest crisis of our lifetimes is a few years off, as the climate emergency piles losses on losses, stranding tens of trillions in assets, from fossil fuels to obsolete gas-stations to literally underwater coastal real-estate to whole towns incinerated by wildfires)

That's where we're at: a crooked casino that we've trusted our futures too, a crisis on the horizon, and a bunch meme-stock "players" who have thrown the normal weirdness of the market into stark relief through a spectacular stunt.

A lot of people are angry at Robinhood, the stock-trading platform at the center of all this. Robinhood froze trading on meme stocks, and has only allowed it to come back in a useless, performative trickle that is seemingly calculated to prevent more meme-stock gamesmanship.

Is Robinhood just another crooked ref? Yes…and no. The meme stock run upset the stable cheaters' equilibrium whereby cheating never escalated to the point where the game just collapsed.

For example, the total short position on Gamestop exceeds its total stock issuance.

Translation: there were more Gamestop shares promised between bettors than exist. When the game stops, all those promises come due, and they literally can't be paid off because there aren't enough tokens in circulation to settle all the debts.

Robinhood halted trading in part because the big fish upstream of Robinhood also halted trading, because they have even more at risk than Robinhood does if the game collapses - they the refs for MANY players, all the same size as Robinhood or larger.

https://www.bloomberg.com/opinion/articles/2021-01-29/reddit-traders-on-robinhood-are-on-both-sides-of-gamestop

But remember, the refs are cheating. And they are both downstream and upstream from other games in which the refs are also cheating.

And the games, as a whole, encompass our economy, including the solvency of the "real economy" (the people who make masks, deliver groceries and drive ambulances), and whether you spend your old age homeless and starving.

So the people who say, "Don't blame Robinhood, they didn't halt trading to help billionaires, they halted trading to prevent the game from collapsing are right."

But they're not the only ones who are right.

Also, there's the people who say that meme stocks aren't making money for little guys at the expense of the big guys. They're right too.

First, because these stocks will all need to be converted to cash, and that means selling them.

https://arstechnica.com/tech-policy/2021/01/the-gamestop-bubble-is-going-to-hurt-a-lot-of-ordinary-investors/

When the selloff starts, the price will plunge, because even if the stock was undervalued before, it's certainly overvalued now. Every bubble produces wealth for its early bettors who sell out to later players who lose everything when they can't find a sucker later on.

From Beanie Babies to subprime, bubbles burst and leave suckers holding the bag. If you just heard about meme stocks last week, you're too late to make money off of them.

There's another version of the "this isn't little guys, it's big whales" that's *also* true: the main beneficiary of the meme stock runs is giant funds who magnified and the bets from r/wallstreetbets and got out smart and fast.

https://twitter.com/zatapatique/status/1354904995901136896

So given all this, what can we make of calls (from parties as varied as AOC and Ted Cruz) to investigate Robinhood and other retail brokerages to see whether they're honest refs, or in the tank for billionaires?

At Naked Capitalism, Yves Smith calls this a "fatuous uproar," saying that the Senate has more important things to do during the racing-out-of-control pandemic than to investigate a literal penny-ante grift.

https://www.nakedcapitalism.com/2021/01/the-fatuous-uproar-about-robinhood-and-gamestop.html

Do we really care who the winner is in "a beauty contest between Cinderella’s ugly sisters" ("clueless new gen day traders versus clumsy shorts")?

Smith is right too.

A speculator-v-speculator contest that falls apart when the crooked ref halts play to prevent collapse - who cares who "wins?"

But here's how they can all be right - the "who cares" and the "goliath v goliath" and the "bubble" and the "Robinhood is a plutes' honeypot."

*If* there's hearings, and *if* those hearings expose the absurdity and corruption of the system, *then* there is a chance to build the political will to make real, systemic changes when the crisis comes.

And there's a real crisis coming: two, in fact. The covid junk bond financial crisis, which is due very soon, and the climate crisis stranded asset emergencies, which will unroll with increased tempo and intensity for decades to come.

The half-century cycle of "addressing" finance crises by increasing financialization MUST stop.

If the meme stock spectacle gets us to pay attention to hearings that reveal the irredeemable rot of the system, then it's a unique chance to spread *real* "financial literacy."

And that literacy is the necessary (but insufficient) precursor to taking action when the time comes - and the time is certainly coming soon.

#pluralistic

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nftlabs · 4 years

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How to Become a Crypto Artist?

Art is universal. It speaks to everyone but recognizes no authorities. It adapts to the times and these days it’s going digital. If you publish your work on the internet, not only will it stay there forever, but you will also get the chance to reach millions of people. Against the background of emerging and flourishing blockchain technology, crypto art has become a trending topic.

Blockchain and Art

Blockchain has revolutionized the way we perceive money, ushering in an era of digital ownership. Bitcoin, as storage of value and digital representation of money, was the first successful use case for blockchain, and some creative developers thought they could expand the concept of bitcoin into something new.

The introduction of smart contracts has brought the blockchain to many new applications, one of which is non-fungible tokens (NFTs). Non-fungible tokens are unique, and NFTs are digital assets with unique and non-interchangeable properties that are standardized, universal, liquid, and programmable. NFTs are applied into collectibles, in-game items, digital art, certificates, domain names, etc.

Digital artworks are transformed into crypto artworks by NFT, and the original model of copying artworks to USB disks and CDs is turned to transactions on the blockchain. The transaction process becomes open and transparent, and technological innovations such as AI are also adopted in digital art creation. It is only a matter of time before the art world is mesmerized by NFT and numerous artists tokenize and monetize their works one after another in a unique way.

What is crypto art?

Crypto art is rare digital art. More concretely, it is limited-edition collectible art that is cryptographically registered on the blockchain via tokens, which means the origin and provenance of digital artwork is transparent and auditable; and blockchain technology enables the tokens to be securely traded from one collector to another.

Once a token is created, the artwork begins its journey on a specific blockchain, where fans or collectors can purchase the artwork with cryptocurrency and it can be exchanged, traded or held by collectors just like any other rare artwork. Typically, crypto artwork can be sold through an auction: the creator lists the artwork they want to sell, after which bidders place their bids and the creator chooses to accept or not accept the bid. If the bid satisfies both two parties, then a transaction is made. Once the digital art asset is sold, the nun-fungible tokens are transferred directly to the buyer’s wallet, and the corresponding cryptocurrency is transferred to the seller’s wallet. Thanks to the blockchain, each transaction takes place on a peer-to-peer network and is protected by cryptography. This means that neither the capital nor the assets are held by the gallery or any other third party.

What does NFT mean for artists?

The decentralized and transparent nature of the blockchain is automatically expressed in the tokens stored on the platform, and these properties are shown in art in the following ways.

First, ownership is digitized into tradable tokens, thus increasing the liquidity of the artwork. Artists mint their works and issue them on the blockchain, and if they want to sell a piece, they can set a price based on its value and leave the rest to the market to work.

Second, NFT can also be used as a reliable method of verification and authentication. Thanks to its traceability, it becomes easier to track down the authentication and previous owners of an item and a certificate of authenticity is no longer needed. Everything is done on the chain and the integrity and value of the work is maintained.

Finally, it lowers the barrier of entry for independent artists who can use this medium to list and sell their artwork without having to pay for expensive gallery services. It also helps artists retain full ownership of their work, avoid paying fees to third-party intermediaries or agents, and enable artists get a better return on their artwork transactions.

How can I tokenize my artwork?

Several projects have emerged in the crypto artwork space, and these platforms spare artists all the technical work, as the artists simply need to provide the crypto artwork. Some of the most popular crypto art collecting and trading platforms are described below.

NFT Showroom is an art tokenization platform built on the HIVE blockchain. NFT Showroom allows artists to log in with their HIVE account and tokenize artwork with the help of its sidechain and smart contracts. The biggest benefit of the HIVE blockchain is that it requires no transaction fees, so there is no cost when an artist submits a piece of artwork to the chain and puts it up for sale. Those who purchase through HIVE will need a HIVE account. Users of HIVE accounts need to stake a small amount of HIVE coins to pay for transactions on the chain, and these HIVE coins remain in the possession of the users and can be sold at any time.

Rarible is built on the Ethereum blockchain and allows anyone with an Ethereum wallet to create accounts to tokenize their art. Since Rarible runs on Ethereum, users need to top up their accounts with Ether to pay for on-chain transactions. What’s interesting about Rarible is that it allows users to buy art with ETH, and hundreds of ERC-20-based tokens. Compared to the NFT Showroom on the HIVE chain, users of Rarible can open up the artwork to more buyers for better liquidity and a larger user base.

Makersplace also uses Ethereum to manage the tokenization of artwork, but also accepts other cryptocurrencies and fiats. Makersplace only charges 15% of the transaction when a crypto artist sells a work, and an additional 2.9% if the purchase is made via credit card. In addition, artists earn a 10% royalty whenever their work is re-sold.

Nifty Gateway, owned by cryptocurrency exchange Gemini, allows users to create tokenized versions of artwork using the NFT token standard Nifties. This platform is created in 2018 based on the Ethereum blockchain. Crypto artist Beeple’s artwork “THE COMPLETE MF COLLECTION” sold at auction on Nifty Gateway for $777,777, making it the most expensive crypto artwork to date.

The difference

As Jason Bailey stated in his introduction to the first Italian crypto art exhibition (Tolmezzo, from December, 2018 to February, 2019), “Unlike the traditional art world, crypto artists do not have to ask permission from gallery owners, agents, auction houses, or other intermediaries to share and sell their work. Instead, they use the blockchain to make their own decisions about displaying their work and making it available. Naturally, traditional artists often talk nonchalantly about crypto art, but that is certainly an important sign that crypto artists are on the right path.”

#nft #blockchain

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twod0gs-blog · 5 years

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Online Presentation

Career Beyond Video Games

People view video games as a path with no end in sight. People view video games as nothing more than something to do in spare time or just a hobby. The truth is that it can be a career not in just making them but playing them for a living. Even with this, there are some parents that see a problem with their children playing video games. They see their children playing games such as Fortnite or League of Legends or etc. as a waste of time but do not know the reality (PV). My parents never saw video games as a waste of time and let me enjoy them during my childhood (F-Auto). I never thought that it would be possible to play video games as a career. I thought this type of job could only be a dream (FP). But nowadays there are those that have this dream job. Children are now able to look up to people who have this job and aspire to be like them. Besides creating the video games, the possible careers for playing video games is to become either a streamer or a professional video game player. These new careers were able to grow through streaming sites such as Twitch, a live streaming platform that focuses on video games. These sites were born from people who enjoy watching others play instead of themselves. Video games are not just for entertainment, they can be a career.

Video games today are not just a solo experience anymore, people are able to play with others from anywhere that has internet. People can make a career out of playing video games. One way to do this is to compete in Esports competitions, where people form teams and compete against each other. These competitions are organized by leagues such as the one known as Electronic Sports League, ESL, or any other league that is specific to a certain game. These competitions can be in two forms. One is being played online where the players play on servers over the internet. The other is playing offline where players play on a closed server in person and is streamed on platforms such as Twitch or YouTube. These platforms stream the competition live for everyone to watch and have a recording of the competition to watch in the future if someone chooses to do so. When teams eventually show results in competitions, they will be picked up by Esports organizations, the most notable being G2 Esports, Cloud 9, and Team Liquid. These organizations create contracts with players and the players can earn salaries so that they have a stable income. The professional Esports players will not have to do another job and can focus on Esports. Besides playing professionally, another path is streaming.

Professionals are not the only ones that stream, non-professional video game players also stream as well. A streamer is a person that uses a platform such as Twitch or YouTube to broadcast them playing video games live. The viewers can interact with the streamers through a live chat that is available to everyone. They can support the streamers through donations or subscriptions while the streamers can make money as well though sponsors and advertising. To become a streamer, all someone needs to do is record their voice and use Twitch or YouTube to stream their gameplay. Some streamers add a camera that faces them so the audience can view the streamer’s reactions. This creates the fantasy that the viewers are with the streamer when they are playing the game. This allows for a connection to be built between the streamer and viewer. If a strong connection is built, then the streamer is more likely to receive donations from the viewers. If they make enough money, then this can become there only job.

There are many streamers that make this a career and the most recent star to make it to the top of Twitch is called Ninja. According to a popular data collection website for streamers on Twitch, TwitchTracker, shows he has an average concurrent viewer count, the numbers of viewers currently watching a stream, of 38,000 people. He was also the first streamer on Twitch that was able to reach 10 million followers (TwitchTracker). With his personality, skills in Fortnite, and dedication he was able to build his fanbase from the ground up. Ninja was able to reach this height in streaming in just six years and continues to grow. A greater number of followers for a streamer correlates to an increase in income. Ninja focuses on a single game to make it easier for him to improve his skill. By improving his skills, he has a greater chance to get more followers. This is one of the types of viewers that someone can become if they want to choose to become a streamer for their career.

Besides a streamer like Ninja who focuses most of their time on a single game, there are also variety streamers who play a whole assortment of video games. Theses variety streamers can appeal to many viewers since different games attract different people or viewers can join to interact with the streamer. A popular variety streamer known as Shroud is on the same level as Ninja in terms of concurrent viewers but is different is that he plays a variety of different shooter games from virtual reality to popular First-Person Shooters (FPS). Another example is the more common variety streamers like one called Brownman who averages a thousand concurrent viewers per stream. Not everyone can succeed in streaming by increasing their skill, they can also be an entertainer. Brownman is an entertainer to his audience who focus on more than one genre when he streams. He plays a variety of games from farming simulators such as Stardew Valley to the classic Pokémon series. According to TwitchTracker, Brownman has played more than 300 games in just the span of three years. In this same amount of time, Shroud is shown to have played around 150 games in the same amount of time according to Twitchtracker (TwitchTracker). There can be streamers who focus on a single game or a single genre or any game they find enjoyable.

There are parents that see these career paths as nothing more than a waste of time. These parent that think this career path of video games is not viable for their child, need to look at how video games indirectly improve their child. Playing video games help improve a child’s development in visual imagery, problem solving, and visual processing. Researchers Sabrina Schenk, Robert K. Lech, and Boris Suchan study “the idea that video game playing is associated with many cognitive benefits” (Schenk). Many games having built in puzzles that challenge the player and makes them have to problem solve. The video game called The Witness focuses solely on the player completing puzzles. Even video games that seem to have nothing to do with puzzles still challenge the player by making them stay within certain parameters to find the solution of the game. Even if a child is not able to progress a career in video games, there is still a benefit to their cognitive abilities improving from years playing video games.

Contrary to the belief of some, professional Esports is not just a group of people who play videos games and call it a sport. The World Championships of some Esports can be compared to the Super Bowl in viewership numbers. The largest Esports, League of Legends, had total viewership of 99.6 million and a peak of 44 million concurrent viewers at the League of Legends World Championship 2018 (Goslin). Compared to the latest Super Bowl that had an average tv audience of 98.2 million people, this World Championship was able to draw in a larger crowd (Porter). Two other games that are rising within Esports are Tom Clancy’s Rainbow Six Siege and Rocket League. Tom Clancy’s Rainbow Six Siege’s highest competition called the Six Invitational had concurrent viewership of 113 thousand and total viewership of 8.8 million. Rocket League’s similar competition, Rocket League Championship Series, had concurrent viewership of 50 thousand and total viewership of 2.6 million (ESM. one). Rainbow Six is an Esports that can get to the level of League of Legends while Rocket League is still an up and coming Esports. Each of these are a different genre of video game and demonstrate how wide the range of people who are interested in Esports.

Traditional sport teams have also taken an in interest in the recent rise of Esports. These teams have gone so far as to create their own Esports teams while others have bought already established Esports teams. The European Rocket League Esports has two teams that are affiliated with professional soccer teams, F.C. Barcelona and Paris Saint-Germain F.C. The Esports organization Team Dignitas was created from the merger of two separate Esports organizations, Dignitas and Apex when bought by the NBA team, The Philadelphia 76ers (Dexerto). With more traditional sports team having a stake in Esports demonstrates how a career in Esports is becoming more common with bigger name organizations jumping in.

Some people may argue that Esports itself is not a sport since it is not “physical”, and they only sit in chairs and move their fingers. There is always going to be people who will not see the growth in Esports and not see the future where the big Esports competitions will be held in the same regard as the World Series of baseball or the Super Bowl of football. According to a report done by Limelight Networks that surveyed around 3,000 people aged eighteen and up from North America, Europe and Asia. People aged between 18 to 25 years old spend 3.42 hours a week watching others play video games which equates to about 3 hours and 25 minutes. The same aged group watches 2.27 hours of traditional sports and this is about 2 hours and 16 minutes (Limelight Networks) (FD). These people are spending more time watching streams than watching traditional sports shows how a shift how people view content will continue in the future. These numbers are realistic for myself since I watch almost all my entertainment streamed and almost no entertainment on tv.

Esports competitions can grow reliably not only with the help of the game’s popularity, but with help from the players themselves. This cooperation between these two aspects gives the competitions a chance to rival League of Legends. Professionals do not benefit from just the competitions they compete in growing, they help increase their own brand. An established brand makes it so that if their career professionally ends, they can still have a career in streaming. Some people can see a possibility that a game can become a top Esport and they take a chance on it by dedicating themselves to playing that game and increasing their skill. They see a game that could be their future career. Becoming a professional in an established game has different difficulties associated with it compared to a new game where someone can early on make a name for themselves.

One such Esports player is Pengu who plays for the G2 Esports Rainbow 6 team. When he decided to go into Esports he decided that he would take a chance on a new game at the time called Rainbow 6 Siege. He could have tried to go into another FPS, but he decided to go with Rainbow 6. His bet has paid off with him being one of the top players in the game while also being part of the team that has the best record in the game. They have most recently won the Six Invitational which the competition to decide who is the best in the world in Rainbow 6. Pengu is one of the many Esports players that can create a career from playing video games.

With the times changing, that means that the possible careers change as well. People, especially parents, that see no future with their children that play video games. Playing games like Fortnite or League of Legends leads to the possibility of becoming a professional since the Esports for these games has gone through exponential growth. This makes careers sustainable and viable for a future (SVC). This is the same for streaming but takes more work since they must work to gather an audience. This new career is here to stay and in no time soon will it die out and wither away into nothingness. People need to realize that these careers are possible and not a waste of time or just a simple dream that a kid has. Now it is possible for children to dream of playing video games for a living and not have to dismiss it.

Works Cited

“ESport Injuries - the Most Common Complaints.” ESportwissen.de, ESportwissen.de, 15 Oct. 2018, www.esportwissen.de/en/verletzungen-im-esport-die-haeufigsten-beschwerden/.

“Esports Teams & Tournaments Stats.” Esports Charts, ESM.one, 2019, escharts.com/.

“Full List of Professional Sports Teams In Esports.” Dexerto.com, Dexerto, 6 July 2016, www.dexerto.com/news/full-list-of-professional-sports-teams-in-esports/19056.

Goslin, Austen. “The 2018 League of Legends World Finals Had Nearly 100 Million Viewers.” The Rift Herald, Vox Media, 11 Dec. 2018, www.riftherald.com/2018/12/11/18136237/riot-2018-league-of-legends-world-finals-viewers-prize-pool.

Porter, Rick. “NFL Ratings Rise 5 Percent in 2018.” The Hollywood Reporter, The Hollywood Reporter, 10 May 2019, www.hollywoodreporter.com/live-feed/nfl-tv-ratings-rise-5-percent-2018-1172505.

Schenk, et al. “Games People Play: How Video Games Improve Probabilistic Learning.” Behavioural Brain Research, vol. 335, 2017, pp. 208–214.

“The State of Online Gaming – 2018.” Limelight Networks, Limelight Networks, 2018, www.limelight.com/resources/white-paper/state-of-online-gaming-2018/#overview.

“Twitch Channels, Games and Global Statistics.” TwitchTracker, TwitchTracker, 2019, twitchtracker.com/.

The True Meaning

The term <fake news> has recently become overused by people on both sides of the political spectrum. This term began with Donald Trump, the 45th President of the United States. It started with his response to a reporter’s question by tweeting “FAKE NEWS – A TOTAL POLITICAL WITCH HUNT!” (Rosen). Now he has completely taken off with this term. He answers any question or information that does not fit his portrayal to the American people by responding with the label <fake news>. President Trump gave the false label <fake news> when he said “Any negative polls are fake news, just like the CNN, ABC, NBC polls in the election. Sorry, people want border security and extreme vetting” (Rosen). He gave this label to information that he could not prove was fake but to information that he did not agree with. The purpose of doing this was to convince people to disregard the polls that show people do not approve of his presidency. This virus of misuse has spread beyond the President to his close supporters. People now use the label <fake news> by attaching it to any information that they disagree with. The misuse of <fake news> needs to stop or important information that demonstrates the true personality of an important figure and they cannot easily stop it by saying the two words, <fake news>. This will put the American people in a situation where they can not disregard the truth from the false with no way to label false information.

This term has been around in some form throughout history. The origin of <fake news> has its origin in recent history. The word fake is young when compared to its synonyms false and untrue. The word fake was “used as an adjective prior to the late 18th century” (Fallon) when compared to false that has been around a larger amount of time. People before the 18th century would use words such as false or untrue when writing or speaking about <fake news>. The earliest use of false news goes “as far back as the 16th century” when <fake news> was needed (Merriam-Webster). <Fake news> means that the information presented to the public is false and untrue. A warning sign is needed so people can see the distorted truth that plagues the internet. This label is one of those warnings. The first recorded use is at the end of the 19th century in a newspaper article. It has only been around a 100 hundred since the first use of this word. The definition of <fake news> as described by the Cambridge Dictionary states it as “false stories that appear to be news, spread on the internet or using other media, usually created to influence political views or as a joke” (Cambridge Dictionary). This definition shows how misinformation can be used to influence people during a political time. According to this definition, Donald Trump would be false in his use of the term since the polls cannot be proven as false information. The top ranked definition from the website Urban Dictionary describes <fake news> as “Normally typed in ALL CAPS, It is the only type of news that Mr. Trump loves” shows how the top ranked definition given by a community that connects the term to the President (Urban Dictionary). This website is a crowdsourced website that takes in new definitions and allows the community to create the definitions themselves. This definition would make Donald Trump’s use of the term correct if not that for the fact that it mentions him in the definition. His use of the term influenced the community of Urban Dictionary. This correlation shows how a single misuse of a term can lead to others misusing it in the same way. With more people connecting this false definition to <fake news>, the misuses will continue to spread. This false definition spreads while stays the same on Urban Dictionary and will not stop with the origin not stopping as well.

The term <fake news> is used whenever politics is brought up. Politics has become a battle where each candidate tries to make the other one look worse than themselves. Through this struggle to defame each other, information with some truth is twisted and contorted beyond recognition. This situation creates information that needs to be labeled as <fake news>. This information now has become false even though it began as truth, but it is now bundled with false so the entirety of it is false. The false definition that someone disagrees with information instead of it being false information. The increase in use started with the conservative side of American politics because the one who began the misuse is affiliated with the corresponding political views. After 2016, the last Presidential Election, the use has dramatically increased in the last two years. President Trump used <fake news> in quick succession to label all information that he felt is the opposite of his image. This information was anything from information concerning his private life, to events of his past. The correct use of this term is to label information that is classified as lies. For example the statement “Donald Trump is not an American citizen.” This statement can easily be proved false with evidence such as his birth certificate. This correct use demonstrates the correct definition that <fake news> needs to be used so that untrue information does not spread around. If the false information can spread, then it could influence a person’s vote during an election such as the Presidential Election. Instead of Donald Trump using <fake news>, a better term for him would be alternative fact. This term demonstrates the type of definition that he is searching for. It tells that what you believe is different than the posted information. It does not state that the information is wrong, but that he simply disagrees with it. The information that is true becomes clouded within all the misinformation with the incorrect use of <fake news>. The use of <fake news> instead of alternative fact allows for information that is true to be disregarded when it is needed. There would be no way to know if the information given is <fake news> or not. If there is no label, then this will lead to the public not trusting any source on the internet simply because there is no way to know what is true and what is not. It is necessary to have a label to show false information when it is layered in with true information. The previous scenario will eventually come to fruition if this label is not preserved.

President Trump’s use of <fake news> has created a situation where the meaning is contorted to a definition that the information is something that one disagrees with. He is creating a narrative of labeling anything and everything that he does not agree with. The impact of this change creates a place where information about shady politicians is disregarded because the label <fake news> would have lost its meaning and purpose. The general public is beginning to change their connotation of the term to the new false definition. This new connotation that is overtaking the old one is the same as the fable called The Boy Who Cried Wolf. This fable is about a boy who looks after the sheep. He informs that town if a wolf comes after the town’s sheep. But instead he plays pranks on the townsfolk by falsely yelling that a wolf is coming. Evenly the townsfolk ignore the boy’s cries until he sees a wolf, but the townsfolk now ignore his cries. Then the wolf kills all the sheep. This fable demonstrates that even when a liar tells the truth, they are not believed. When this is applied to <fake news>, the incorrect use creates a place where no politician or political figure can be brought to light with the term ruined. This outcome is the future if the term usage continues its path. The recent events with the term show how it is important to realize that misusing a word makes the true meaning clouded by the new false meaning. Whenever using <fake news>, the only proper use is false information that is purposely spread about someone and should not be used because the information does not agree with a given narrative.

References

“Fake News.” Cambridge English Dictionary, Cambridge University Press, 2019, dictionary.cambridge.org/us/dictionary/english/fake-news.

“Fake News.” Urban Dictionary, Urban Dictionary, 2019, https://www.urbandictionary.com/define.php?term=fake%20news.

Fallon, Claire. “Where Does the Term 'Fake News' Come From? The 1890s, Apparently.” The Huffington Post, TheHuffingtonPost.com, 24 Mar. 2017, www.huffingtonpost.com/entry/where-does-the-term-fake-news-come-from_us_58d53c89e4b03692bea518ad.

“How Is 'Fake News' Defined, and When Will It Be Added to the Dictionary?” Merriam-Webster, Merriam-Webster, 2018, www.merriam-webster.com/words-at-play/the-real-story-of-fake-news.

Rosen, Christopher. “All the Times Donald Trump Has Called Something 'Fake News'.” EW.com, Entertainment Weekly, July 2017, ew.com/tv/2017/06/27/donald-trump-fake-news-twitter/.

Wendling, Mike. “The (Almost) Complete History of 'Fake News'.” BBC News, BBC, 22 Jan. 2018, www.bbc.com/news/blogs-trending-42724320.

Quote:

“Instead of following the rules without regard for whether they’re making our writing effective or not, we often need to question the rules. To write with style, we need at times to break the rules.” -Donna Gorrell

Response:

I agree with the first part of the quote about questioning the rules. This is because learning why the rules are there in the first place helps strengthen the effectiveness of the writing. The rules can be broken but only in specific situations and should not be abused. The situation depends on the audience of the piece and the purpose of the writing. When breaking a rule in the wrong way can ruin the writing as a whole.

Quote:

“Journalism is printing what someone else does not want printed. Everything else is public relations.” -George Orwell

Response:

I would agree with it because you want to write in a way so people cannot misinterpret what you are trying to convey to the reader. People will always try to contort anything they see to match their own views on people or a certain topic

https://docs.google.com/presentation/d/1pX73TnsJzYhG0DBbkIYIPh7rHZ3z_2VHlAQUzqNLAJ8/edit?usp=sharing

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luckybluebirdchaos · 2 years

Text

PMXX

Digital PMXX is a startup founded by two industry veterans

youtube

What is MetalBacked.Money?

MetalBacked.Money is a decentralized digital asset backed by physical gold and platinum reserves, which means that MBMX is not only an investment, but also a savings account. The goal is to safely improve financial well-being — to be and have a positive impact on the lives of others, helping millions of people shape their financial futures — People's Money.

DuDe coin is a new cryptocurrency that has several unique features that make it stand out from the rest. It is based on blockchain technology and uses a proof of stake algorithm, which makes it more secure and efficient than other cryptocurrencies. In addition, DuDe coin has very low transaction fees, making it ideal for use in everyday transactions. If you are interested in learning more about the DuDe coin or want to start using it yourself,

Why Choose People's Money?

The most empowering thing you can give someone is hope and choice, through public money we give you hope and financial freedom with PMXX, MBMX, DuDe and MoneyWithoutBorders.

I think it's no secret that each of us wants to have a reliable and sure investment tool.

Now in our reality, most financial instruments and investment mechanisms suffer from volatility, and it is important for investors to know about the level of volatility of assets in order to weigh the risk, reliability and profitability of their investments, inflation, gradually diminishing purchasing power of money and “eating” savings, regulation in excess, all of this, as a result, increases income inequality.

You can talk about it for a long time, or you can move on to a new project that I want to tell you about.

This is people's money! This project provides you with a safe and predictable way to improve your financial well-being.

PMXX will not only be an investment for you, it will also be your savings account!

The PMXX Metal Backed Money platform runs on the Polygon blockchain technology which enables liquidity, financial leverage and decentralized transactions.

Transactions are peer-to-peer, not involving third parties.

Utilize safe-haven precious metals, Gold and Platinum, as a store of value.

The value is directly related to the price of Gold and Platinum.

Only 10 Million coins will be minted.

Precious metal mineral rights (Texas Mine K-150) are valued at $7.8 billion.

Built-in Stop-Loss Algorithm

You will build your personal well-being, while making a positive impact on disadvantaged children and impoverished mining communities around the world. This project pays great attention to children from poor mining communities. The communities around the mines have suffered from exploitation in the past. Their children worked in the mines, a dangerous practice that robbed them of their childhood. Instead of working in the mines, this project will help children go to school and get an education.

By investing in PMXX, you will be part of the team's effort to provide educational resources for children in this community!

What is DuDe Coin?

DuDe Price is ONLY 0.00077–0.0008 USD.

DuDe will *burn 90% of all DuDe Coins.

DuDe will *burn 10% of your DuDe Coins.

DuDe's growth potential is up 9000% due to tokennomics.

Get 100 USD worth of DuDe Coins — Keep it for 900 days, then sell it for 90,000 USD.

And as always, HAVE FUN while doing it!

*BURN = Burn part of the token supply to increase the value of the coin in the market.

How does PMXX do it?

The PMXX Metal Backed Money platform runs on the Ethereum blockchain technology which enables liquidity, financial leverage and decentralized transactions.

Transactions are peer-to-peer, not involving third parties.

Utilize safe-haven precious metals, Gold and Platinum, as a store of value.

The value is directly related to the price of Gold and Platinum.

Only 10 Million coins will be minted.

Our precious metal mineral rights (Texas Mine K-150) are valued at $7.8 billion.

Why Choose People's Money?

We all want a safe and secure investment vehicle.

We also want to make a positive impact on the lives of others.

Unfortunately, most financial instruments and investment vehicles experience volatility, inflation, over-regulation, and ultimately increased income inequality.

People's Money provides you with a safe and predictable way to grow your financial fortune.

In fact, PMXX is not ONLY an investment. This is also your savings account!

What's more, you build personal wealth while positively impacting disadvantaged children and poor mining communities around the world.

How Did DuDe Do It?

DuDe People's Money (MetalBacked.money) runs on Polygon blockchain technology.

Transactions are peer-to-peer, not involving third parties.

1 Trillion (1 000 000 000 000) DuDe Coins have been issued.

DuDe People's Money is all about helping those who are less fortunate. Buy DuDe with ETH to help the World.

DuDe People's Money (MetalBacked.money) directly supports Afifi Alaouie and the Charitable Organization MoneyWithoutBorders.club.

What will get you DuDe Coin?

In a world where influencers outperform S&P 500 CEOs and crypto is breaking record return on investment, wouldn't you rather cash in on trends than suffer the wrath of FOMO?

Yes, we think so too and that's why we created DuDe People's Money!

Having noticed this project early in your journey you have DuDe coins for only 0.00077–0.0008 US dollars, after saving these coins for the nearest year or two you will end the journey being hundreds of thousands of dollars richer!

What does the People's Money PMXX project offer us?

With PMXX People's Money, everything is simple! This project has a very simple and clear concept! PMXX People's Money is digital money. In a decentralized network, all actions are performed and controlled by ordinary people, completely excluding third parties. The People's Money Ecosystem is built on the Polygon blockchain, which enables decentralized transactions. All payments are made in a peer-to-peer network. No third party is required to act as an intermediary. MBMX is your ATM and payment system! Every completed transaction is processed, confirmed and protected by the Polygon network. In addition, only 10 million PMXX tokens will be minted. This limited stock ensures that it cannot be overstated!

You have two options (pairs) to buy.

1.) USDC/DuDe as investment.

2.) ETH/DuDe, and the funds will go directly to the charity.

CLICK HERE to Buy DuDe People Money on CoinStore.

CLICK HERE to Buy DuDe People Money on UniSwap.

CLICK HERE to Check out DuDe on CoinGecko.

What you need to know:

1 Trillion DuDe Coins have been issued.

DuDe will *burn 90% of all DuDe coins over the next 900 days, resulting in 10% *burning your own DuDe deposits.

The numbers don't lie and DuDe is up 9000% due to tokennomics. In other words, you will get a great return on your initial $100 investment.

Don't let analysis paralysis cost you another crypto unicorn. Buy $100 DuDe now, hold on for 900 days, and go $90,000 richer!

So come and join us on the PEOPLE side, make money, give back and, above all, have fun doing it!

DuDe transactions are truly peer-to-peer, putting as much money as possible back in your pocket and into the pockets of our charity partners by eliminating the need for third party intermediaries.

DuDe is run on the cutting-edge Polygon blockchain technology which means you can make transactions faster at much lower gas costs. This is a win-win!

Earn your share by buying DuDe with ETH or USDC. Buy with USDC as an investment or buy with ETH to reach our charity partners with much needed (and appreciated) funds.

You have two options (pairs) to buy:

1.) USDC/DuDe as investment.

2.) ETH/DuDe, and the funds will go directly to the charity.

You can BUY DuDe coins on CoinStore.

You can BUY DuDe coins on UniSwap.

PMXX Tokenomy

Total Exchange Supply:

The total supply of PMXX People's Money is 10,000,000 coins.

Full circulation of the total supply is expected in 2024–2025.

The total supply is distributed through different token exchanges to ensure easier trading. All tokens combined — will never exceed the total limit of 10 Million tokens.

That's our review of PMXX, hopefully useful,

For more information about PMXX you can access the link below:

Website: https://metalbacked.money/

telegram: https://t.me/MBMX_Universe_chat

Instagram : https://www.instagram.com/metalbacked.money/

Twitter : ��https://twitter.com/MetbackedMoney

Username: pause profilelinks; https://bitcointalk.org/index.php?action=profile;u=3357659

#Youtube

0 notes

khendari · 2 years

Text

PMXX.

PUBLIC MONEY. ABOUT PMMX.

Dear blogger friends, today we will review PMXX — People's Money. But before that, keep in mind that PMXX is still a developer holding other tokens: PMXX, MBMX and DuDe and Dude NFT.

DuDe Coin is a new cryptocurrency based on blockchain technology. Unlike other cryptocurrencies, DuDe Coin is not controlled by a central authority. Instead, it is PEOPLE'S MONEY that the crowd supports. DuDe Coin also differs from other cryptocurrencies in that it uses a unique algorithm that makes mining difficult. As a result, DuDe Coin is rarer and potentially more valuable than other cryptocurrencies.

The four are forces that cannot be separated and cannot be mutually reinforcing.

On this occasion, we will first focus on discussing PXX. So what is it, someone will ask about it. I also.

But after listening to Just Girly Things on Ash PXX's Youtube Channel,

Does the video above explain what PXX is?

According to the video, PMXX stands for people's money and is a reinvention of MBMX.

And less importantly, these tokens are listed on the Bitmart Exchange as a pair.

PXX/USXC, at the time of this writing, the PXX price is 5005 USDC per coin.

What does the People's Money PMXX project offer us?

Why do people choose money?

We all want a safe and secure investment vehicle.

We also want to make a positive impact in the lives of others.

Unfortunately, most financial products and investment instruments experience volatility, inflation and over-regulation, which in turn increases income inequality.

People's Money provides a safe and predictable way to increase your financial wealth.

In fact, PXX is not just an investment. This is also your savings account!

It also builds personal wealth while positively impacting underprivileged children and poor mining communities around the world.

MBMX Metal Backed Gold Coin

MBMX Metal Backed Money Black and Purple Coin

How does PMXX do it?

The PMXX Metal Backed Money platform runs on the Ethereum blockchain technology which enables liquidity, financial leverage and decentralized transactions.

Transactions are peer-to-peer, not involving third parties.

Utilize safe-haven precious metals, Gold and Platinum, as a store of value.

The value is directly related to the price of Gold and Platinum.

Only 10 Million coins will be minted.

Our precious metal mineral rights (Texas Mine K-150) are valued at $7.8 billion

How Did DuDe Do It?

DuDe People's Money (MetalBacked.money) runs on Polygon blockchain technology.

Transactions are peer-to-peer, not involving third parties.

1 Trillion (1 000 000 000 000) DuDe Coins have been issued.

Why Choose People's Money?

We all want a safe and secure investment vehicle.

We also want to make a positive impact on the lives of others.

Unfortunately, most financial instruments and investment vehicles experience volatility, inflation, over-regulation, and ultimately increased income inequality.

People's Money provides you with a safe and predictable way to grow your financial fortune.

In fact, PMXX is not ONLY an investment. This is also your savings account!

What's more, you build personal wealth while positively impacting disadvantaged children and poor mining communities around the world.

DuDe People's Money is all about helping those who are less fortunate. Buy DuDe with ETH to help the World.

DuDe People's Money (MetalBacked.money) directly supports Afifi Alaouie and the Charitable Organization MoneyWithoutBorders.club.

Tokenomics The amount of money people PMXX.

The total stock of PMXX is 10,000,000 tokens.

The total offer is distributed across various token exchanges to simplify trading. All tokens combined will never exceed the total amount of 10 million PMXX.

Built-in stop loss algorithm Built-in PMXX stop loss algorithm

PMXX's built-in stop loss algorithm now works.

The Stop-Loss Algorithm will never fall below $500 million for 10 million PMXX minted, which equates to about 7% of all gold and platinum assets in the deep Texas K-150 mine.

Mining and the amount of physical gold and platinum assets will increase as the business grows, and more PMXX cryptocurrencies will be sold in the market.

Links that will be useful to you:

Website: https://metalbacked.money/

Telegram chat: https://t.me/MBMX_Universe_chat

Twitter: https://twitter.com/MetbackedMoney

Instagram: https://www.instagram.com/metalbacked.money/

Khendari https://bitcointalk.org/index.php?action=profile;u=3198782

0 notes

moricuy · 2 years

Text

Lambo Finance

Lambo Finance" is a cryptocurrency investment fund

LAMBO Financial platform is a powerful project! Teams are closely connected to the community and easily accessible to share new ideas or address issues. I hope this project has dynamic growth. Lambo is a powerful project! Teams are closely connected to the community and easily accessible to share new ideas or address issues. I hope this dynamic Lambo project is an opportunity to be a part of something that will contribute a lot to the growth of the cryptocurrency industry. Join now and invest with it can bring many benefits in the future. This is sure to be a successful Lambo project as it has a great team that is more than qualified and focused on making this project a success.

Interest staking and compounding were introduced to the cryptocurrency ecosystem with Lambo. It tries to solve two of the industry's most serious problems: liquidity and cumulative effects.

It is a cryptocurrency investment and auto-staking platform that verifies transactions using a "Proof of Work" system. The idea is to make it easier for everyone to invest in cryptocurrencies without having to learn how to mine or navigate complex exchanges.

Lambo is a method that allows fast and reliable transitions of significance and statistics between factions. It has the potential to empower financial companies, payment service providers, software platform exchanges, and megacorps to move ownership through blockchain systems quickly and effectively in a cost-reduced and modular manner. Lambo is built for blockchain systems like Bitcoin and Ethereum and can be used as smart contracts or inducers.

Lambo is a new cryptocollectable that uses mechanisms to invest, stake and accumulate. In this blog, we will offer a brief overview of Lambo, then discuss some of its unique features before getting into the Lambo open source api protocol.

WHAT LAMBO CAN DO?

Lambo is an automated compounding therapy regimen that saves time and money. We create an ecosystem that allows users to passively invest in the cryptocurrency market. It is the first of its kind and will shape investment management in the future. As a trader, investor or saver, this approach gives you more time while increasing your investment returns.

Lambo's mission is to build a network of financial applications that allow people to manage money the way they choose, without constraints or middlemen.

This allows you to earn money while you sleep. You can even build your own asset token to use as an investment vehicle.

IMPORTANT FEATURES OF LAMBO DEFI

Lambo is a protocol that allows stakeholders to invest their idle funds into an untrusted network of interest-generating accounts.

It allows anyone to invest in cryptocurrencies and earn interest.

Lambo is a cryptocurrency trading platform that allows consumers to engage in the market at the best prices.

Lambo-Defi Auto Staking and Auto Compounding API Protocol are new protocols that allow users to automatically stake and compound. This means you can leave it alone while you sleep or away from your computer. The Auto Staking and Compounding Protocol was created for Lambo-Defi, but can be used with any Crypto currency that uses the P2P Network Protocol.

CONCLUSIVELY

It is the first investment protocol of its kind. It will stake ETH and LTC in your Lambo Defi investment contract automatically. Your investment will be compounded automatically. You don't have to do anything because it will take care of everything! The Lambo Defi Foundation developed the investment protocol (LDF).

We hope you enjoyed the Lambo defi article. We hope you put this knowledge to good use and start making more money for yourself and your family. When we can provide our readers with useful information, we are overjoyed. Please contact us if you have further questions or concerns regarding the Lambo defi protocol. Thank you for reading; We are always happy whenever one of our articles can provide important knowledge on a topic like this!

$LAMBO Token :

Name: Lambo Finance Ticker: $LAMBO Maximum supply: 20,000,000,000 LAMBO Initial supply: 1,000,000 LAMBO Team: 0%

Trading Fees:

Biaya Pembelian (Total 10%): 2.5% — Asuransi 2.5% — Treasury 1.5% — Auto-Liquidity 1.0% — Dead Valley 1.25% — BNB Passive Income 1.25% — Shib Lover

Cost of Sales (20% total):

5.0% — Asuransi 5.0% — Treasury 3.0% — Auto-Liquidity 2.0% — Dead Valley 2.5% — BNB Passive Income 2.5% — Shib Lover

Treasury :

Treasury address: 0x00 2.5% of the purchase fee and 5% of the selling fee will be held in Lambo's treasury. The treasury will be used to fund marketing, new Lambo products, services and projects that will expand and provide more value to society.

The APY for Lambo Finance is 900,368.31%, which will be paid automatically in LAMBO & BNB & SHIB. Example: If you start with a balance of only 1,000 USDT of $LAMBO on the first day, after one year, your balance will increase to 9,000,368.31 USDT of $LAMBO.

Other information:

Website: https://lambofi.io/

Twitter: https://twitter.com/lambofinance1?t=UhhRZpqYdeGn6SMocRNF9g&s=09

Telegram : https://t.me/lambofinancegroup

Medium : https://medium.com/@LamBoFi.io

Reddit : https://www.reddit.com/user/LamboFinance/

Username moricuy Link: https://bitcointalk.org/index.php?action=profile;u=2633291

0 notes

widisamutdr · 2 years

Text

Lambo

#Lambo is a trading platform that will buy and burn coins

Staking and compounding interest was introduced to the cryptocurrency ecosystem with Lambo. It tries to solve two of the industry's most serious problems: liquidity and cumulative effects.

REASONS WHY YOU NEED LAMBO

LAMBO is transforming DeFi with the LAMBO Autostaking Protocol that provides the industry's highest fixed APY, rebasing rewards every 8 minutes, and a simple buy-hold-earn system that grows your portfolio in your wallet. Lambo Finance is the first and only auto-staking protocol that provides decentralized financial assets that reward users with a continuous fixed APY of up to 900,368.31% on BNB & SHIB & LAMBO.

WHAT CAN LAMBO DO?

Lambo's mission is to build a network of financial applications that allow people to manage money the way they choose, without constraints or middlemen.

This allows you to earn money while you sleep. You can even build your own asset token to use as an investment vehicle.

IMPORTANT FEATURES OF LAMBO DEFI

Lambo is a protocol that allows stakeholders to invest their idle funds into an untrusted network of interest-generating accounts.

It allows anyone to invest in cryptocurrencies and earn interest.

Lambo is a cryptocurrency trading platform that allows consumers to engage in the market at the best prices.

OUR BENEFIT FEATURES

LIABILITY

In the cryptocurrency arena, Lambo insurance is a unique and new technique. By maintaining price stability and greatly lowering downside risk, it helps sustain and support bet returns.

FAST AND FULL OF ENERGY

Lambo Rebase is the world's first blockchain to rebase every block every 8 minutes while also accruing interest. Due to its rapidly growing network, fast user acceptance, low inflation rate, and decentralized governance, this new coin will be the most stable in crypto.

HIGHEST APY

LAmbo is a breakthrough investment platform that allows you to generate passive income and get rich fast. We are the only company in the world that offers the world's highest interest rates, up to 900,368.31 percent annual percentage yield (APY), which is deposited directly into your account at the end of each month.

AUTOMATIC LIQUIDITY

LAmbo is a cryptocurrency market liquidity provider using an automated trading platform. We will be able to increase the total liquidity of the market and provide a more stable cryptocurrency environment for all participants by offering a small bonus to all token holders, between 1.5 and 3 percent.

TREASURY

One of the most distinctive aspects of this coin is the Lambo Treasury. To grow the Lambo ecosystem, assist with digital asset creation, and build a decentralized exchange platform, 2.5 percent to 5% of all trading fees will be held in the Treasury.

AUTOMATIC TOKEN BURNING

Lambo Token is a tradable Dead Valley platform utility token. Every time you trade, it burns 1% to 2% of your account. It can only be used on the Dead Valley platform or traded with other coin or token exchanges.

BNB PASSIVE INCOME

Lambo is a trading platform that will buy and burn $LAMBO coin using Binance's 0.1 percent trading fees, then distribute the amount of $LAMBO bought back to platform users who have $LAMBO in their account as staking rewards. As time passes, the value of $LAMBO will rise owing to increased demand, providing its holders with a good passive income.

SHIB ENTHUSIASTS

LamboToken is represented by the Shiba Inu Token (SHIB) (LAMBO). To make it easier for people who want to learn more about us, simply say SHIB instead of LAMBO when referring to our token. 1.25 percent to 2.5 percent of all trading costs means that a small portion of each transaction will be used to purchase SHIB tokens and redistribute them among all $LAMBO currency owners, whether or not they are active traders.

FIXED APY

Working with Lambo Finance can earn you an annual percentage yield of 900.368 percent. All of this money will be sent to you in LAMBO, BNB, and SHIB tokens.

CONCLUSIVELY

Tokenomics

LAMBO is a BEP-20 token with elastic supply that rewards holders using a positive rebase formula

$LAMBO FACTS

� $LAMBO TOKENOMICS is a collection of all the components that make the $LAMBO token valuable and attractive to investors.

� $LAMBO TOKENOMICS covers every little thing from the supply of $LAMBO tokens to how they are issued to things like what utility they have.

Generally, $LAMBO is a BEP-20 token with elastic supply that rewards holders continuously, steadily and automatically using the most innovative rebase formula.

$ LAMBO Token

Name: Lambo Finance

Ticker: $LAMBO

Maximum supply: 20,000,000,000 LAMBO

Initial supply: 1,000,000 LAMBO

Team: 0%

Mint addition: No

Trading Fee

Purchase Fee (total 10%):

2.5% — Insurance

2.5% — Treasury

1.5% — Automatic Liquidity

1.0% — Dead Valley

1.25% — BNB Passive Income

1.25% - Shib lover

Cost of Sales (20% total):

5.0% — Insurance

5.0% — Treasury

3.0% — Automatic Liquidity

2.0% — Valley of the Dead

2.5% — BNB Passive Income

2.5% - Shib lover

Roadmap

Website Development

White Paper Documentation

Apply Smart Contract

Pre-launch Marketing

PR Marketing

Airdrop Campaign

Bounty Campaign

Fair Launch at PinkSale

5,000 Token Holders

10,000 Token Holders

15,000 Token Holders

20,000 Token Holders

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Other information:

Website: https://lambofi.io/

Whitepaper : https://whitepaper.lambofi.io/road-map

Medium : https://medium.com/@LamBoFi.io

Telegram : https://t.me/lambofinancegroup

Discord: https://discord.gg/geFw39Pvnp

Twitter : https://twitter.com/lambofinance1

Reddit : https://www.reddit.com/user/LamboFinance/

Launch App: https://app.bogged.finance/bsc/dashboard

MoraCoin66 https://bitcointalk.org/index.php?action=profile;u=2579413

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lani123lani · 3 years

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BeFiT - DeFI Platform Suitable For Binance Smart Chain BEP20

Hello everyone... Here I will inform you by writing a review to introduce a very unique new project called BeFiT, so for that, have a look at the article that I created below to give you a very good overview of the project, then What benefits do they provide to everyone? Let's go straight to the discussion below.

Introduction

The BeFiT Protocol is designed to enable a fully decentralized marketplace for Farming/Staking and Liquidity extraction on Binance Smart Chain.

DeFi Landscape

Decentralized finance (or simply DeFi) refers to an ecosystem of financial applications built on top of a blockchain network. Specifically, the term Decentralized Finance may refer to the movement to create an ecosystem of financial services that is open source, illegitimate and transparent, available to all and functioning without a central authority. Users will maintain complete control over their assets and interact with this ecosystem through decentralized peer-to-peer (P2P) applications (dApps).

The main advantage of DeFi is the ease of access to financial services, especially for those who are isolated from the current financial system.

What is BeFiT DeFi?

BeFit Defi is the premier platform for community staking and farming and Liquidity extraction. A place to freely create passive crypto income. BeFit allows you to earn high returns on your crypto by stacking and providing liquidity.

DeFi Features

Binance Blockchain

Easy to used Tokensale Platform

High Security

First and Decentrelized

How does it work?

Just like other cash withdrawal programs, participants only need to provide cash to this BFT/BNB PancakeSwap V2 pool. Due to the new nature of the experience, notes must remain in the pool for a period of one month to be eligible for rewards.

Ecosystem $BFT Token triggers rewards from those who give cash in PancakeSwap V2. The more liquidity you provide and the longer you leave it, the larger your share of the BFT pool you receive. BFT/BNB is the main liquidity pool for the ecosystem. It is up to you to create Pools with more tokens and digital assets on the platform with partners and their rewards for the community.

There are currently two types of decentralized exchanges on the Binance Network:

Peer-to-peer order book exchange (eg 0x exchange like P2P)

Liquidity pool exchanges (eg PancakeSwap) Order book exchanges rely on a buy/sell system to execute trades.

When a trader places an order to buy or sell at the selected price for the token, the exchange's matching engine only executes the trade once the order opposite the price is available. Trader placement (limit) orders in the order book are called market makers and traders who execute their orders against orders already entered in the order book are called takers.

Therefore, the price of the token is determined by the merchant who chooses at what price level to place an order. This system works quite well when there are enough buyers and sellers in the market, but there are some unavoidable problems: Tokens that lack liquidity due to low volume or low interest do not exist. only difficult to buy and sell, but also sensitive to unexpected price fluctuations caused by large individual transactions. Therefore, tokens characterized by high price volatility and inefficient conversion are unlikely to be adopted.

BFT Token Liquidation

BFT Token Liquidation Balance works similar to liquidating cash with one extra step. The liquidator must first convert the BFT Tokens into cash by selling them in the BeFiT liquidity pool or by purchasing the BFT Tokens at their collateral value. Once the BFT Tokens are converted into cash tokens, the liquidation proceeds as usual.

BFT token liquidation increases the account's excess collateral position by increasing the account collateral surplus or reducing the account collateral requirement.

Governance The BeFiT Protocol is powered by the BFT Token, a governance token for the community to guide its evolution and development over time. On-chain governance is designed to bootstrap the sustainability and long-term growth of the BeFiT Protocol, using the BeFiT BFT governance token.

At genesis, 10,000 BFT tokens will be minted to encourage community participation economically. BFT tokens drive BeFiT governance mechanisms and can be staked in on-chain voting for improvement proposals.

Governance features include:

Adding new crypto assets or stablecoins to the protocol

Adjusts variable interest rates for all markets

Set a fixed interest rate for each market

Added new market for different maturity

Vote for protocol improvement/proposal

Delegate protocol reserve distribution schedule A number of BFT tokens will be allocated to all borrowers in return for increasing initial liquidity, in proportion to the amount of debt each account borrows. Similarly, a certain amount of BFT tokens will also be allocated to lenders/liquidity providers in return, in proportion to the amount of liquidity each account provides.

TOKEN SALE

973,500,000 BFT to be sold!

Tokenomics

Roadmap

Q4 -2021

Community research and evaluation of project ideas, implementation planning.

Q1-2022

Product development and creation of DeFi liquidity pools.

More exchanges and community and LP approaches. Bring more utility to tokens in society and market.

Q2-2022

Fully DeFi ecosystem for money mining and digital asset betting.

The future hasn't been written yet....

Conclusion

The BeFiT Protocol is designed to provide a fully-decentralized and secured marketplace for interest, term lending. BeFiT enables lenders to utilize their idle crypto assets by supplying liquidity to earn a amount of interest earnings; it also allows borrowers in need of liquidity to take loans pledged by over- collateralized crypto assets at a specific and predictable cost. BeFiT will be deployed on Binance Smart Chain, to avoid friction and pain points when using Ethereum, including congestion, high gas fees and lack of interoperability with other ecosystems. This enables the creation of a scalable liquidity market completely governed by the community through its governance token BFT.

Contact Information

WEBSITE : https://befit-defi.com/

WHITEPAPER : https://drive.google.com/file/d/1GIErfvDWTwqP58Fn384GYNMF6j1s_Nxe/view?usp=sharing

TELEGRAM : https://t.me/BeFiTDefi

TWITTER : https://twitter.com/BeFiTDeFi

#befit#bft#crypto#pinksale#invest#gems#bsc

AUTHOR

Bitcointalk Username : lani123lani

Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=1220105

BSC Wallet Address : 0xaeC6B59a69a13FBea61AC87b27Cc50d8F594F923

#befitbftcryptopinksaleinvestgemsbsc

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bayyfirmansyah513 · 3 years

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SpyritCoin

SpyritCoin is a deflation utility token based on the Polygon network created with two practical conventions

SpyritCoin is a digital token for building a global economy. Our Polygon network enables decentralized investment and trading capabilities across three levels of Security. Higher stakes levels will allow maximum liquidity, and one of our Economical Protocols guarantees investors direct taxes on network trading fees in the form of SpyritCoins, as well as significantly lower fees by eliminating traditional middlemen.

SpyritCoin is a deflation utility token built on the Polygon network. SpyritCoin or (SPY) will be used as virtual currency in our Polygon Network. It will be used as a payment method among other utilities in online and mobile platforms.

It finally appeared! is one of the most life-changing new cryptocoins that has been developed on the Ethereum blockchain. This venture has the potential to make strategic investors very wealthy in the next few years. In the midst of its ICO, SpyritCoin was selling for a very low value, now (as I write this) only 0.1 cents per coin!

That really is a great plunge opportunity, with the capacity to turn anything left in 2017 into a 100x cryptographic windfall. Anyway, let's start with a brief introduction.

When viewed in a larger scope, SpyritCoins seems to be the next big thing. As the technology behind cryptocurrencies advances, we can expect better and better introductions. The decision to invest in SpyritCoins is a step towards a future that is available to individuals who know innovation.

SpyritCoin's new digital currency assessment and review is focused on helping everyone understand the system and how to participate in SpyritCoin's initial offering. With a clear market for licenses, there isn't much room for error in this endeavor.

Manual capitalization has been maintained to the point where any newbie can start with little cash and make quick profits from their first investment.

SpyritCoin is a great altcoin to hold onto long term. You can exchange them for Bitcoins and also convert them into Spyrits. This will be a very low risk bet as you trade more than 1:10000 of your earnings.

The most protracted and difficult stage was purchasing Initial Spyrits (a two month manual procedure to be broadcast in June). There are no checks of any kind yet, and digital currencies are legible and easier to rename. The trustees guarantee the safety and privacy of their investors.

Finally, a cryptocurrency that really deserves to be proud is here. We have been trying to find a speculator cryptocurrency with a genuine market achievement all without anyone else, and we really feel that it will most likely create opportunities in this industry.

This is a coin sale made by someone who needs the crypto environment to compete on their own – it is the kind of crypto that plays out the way different cryptocurrencies are expected to play. To be more precise, it's like there's a project out there that needs to be done, but no one has tried that so they're choosing to do it themselves! The project is Spyrit Coin, and as far as crypto sales go, I've never observed anything like this before.

SpyritCoin is a digital currency like Bitcoin and Litecoin, but much better than the previous one. Cryptography has been around for some time, and there are so many approaches to encrypting data that it can be difficult to understand. SpyritCoin is created using a very new strategy called Elliptic curve cryptography which is the most secure cryptographic technique available today.

In the market, it has the power to make a substantial difference in Spyritcoin price and market dominance. Moreover, investors can take advantage of this opportunity due to the fact that information about this interesting cryptocurrency is relatively low in the web phase.

The Spyrit team made public their beta coin, Spyrit Coin (SPYR). SPYR is a state-of-the-art cash register that makes it easy and secure to exchange forms of digital money. The team at Spyrit will soon be shipping their cash platform called "Spy Wallet" because we as their payment framework are called SPYRpay (the most secure wallet in the world). The token sale will begin May 14, 2017 at 18:00 (UTC) or June 10, 2017 at 01:00 (EDT).

Ahead of the major open sale, Spyrit Co. unlock 2 000 000 coins for $0.1 each. It made a total of 2 million USD, starting with a super solid base price without over-flooding.

People often state that they cannot take advantage of the cryptocurrency market due to its inquisitive nature. With low paying coins, one has a better chance of getting into the market.

Bitcoin is an open-source peer-to-peer electronic cash system created by Satoshi Nakamoto. Since 2008, the face of Bitcoin has been discussing the idea of an online bank that can save you money using cryptographic encryption techniques. First recorded use of blockchain

Our Progress

DEFI

Applications that rely on the DeFi standard, to ensure the liquidity of the free streaming business sector.

DEX

Decentralized trading based on the Polygon Network which will allow clients to buy, sell and trade their coins or tokens securely.

Reach

Turn your SpyritCoin from a Polygon organization to a Spyrit Chain.

- Staking and Farming

Bet your SpyritCoin or NFT to earn from the guest house or liquidity pool.

- blockchain

Spyrit Chain will be another Layer 1 blockchain convention centered around usability and scalability that is further developed, at insignificant gas costs.

- MetaVerse

A unique story-based MetaVerse game with NFT uses and in game NFT content, called Spyrit Realm. Created and delivered on Spyrit Chain.

Tokenomics

Token Name : SpyritCoin

Network: POLYGON

Supply: 5 BILLION

Fee: 10%

Automatic Liquidity : 5%

Dividend : 5%

Roadmap

- Q3 2021

Create Websites and Social Profiles

Send Smart Contract Token

Share V1 Whitepaper

Submit ICO Smart Contract

- Q4 2021

Foster dApp

Foster Staking and Protocol Farming

Foster NFT Staking Protocol

Reviews and KYC

Send Pre-sale Smart Contract

Displaying and Advertising Campaigns

- Q1 2022

Public Launch

Get Partnership

Coin Listing Site

Create an NFT Collection

Foster Cross Chain DEX

- Q2 2022

Create Game Blueprints

Build a Spyrit Chain Network

Foster Cross Chain Bridge

Further information:

Website : https://spyritcoin.io/

Whitepaper : https://github.com/spyritcoin/SPYRIT-Paper/blob/main/SPYRIT%20PAPER.pdf

Twitter : https://twitter.com/spyritcoin

Telegram : https://t.me/spyritcoin

GitHub : https://github.com/spyritcoin

Discord : https://discord.com/invite/xzyeMr3Rbb

Username:TWIXXER Link: https://bitcointalk.org/index.php?action=profile;u=2579938

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aliciaadley900 · 3 years

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Earn crypto on Binance with no trading

Binance is widely recognised as the world's most advanced cryptocurrency trading platform. It enables a large number of cryptocurrency users from all around the globe to trade in a safe and secure manner. Because of this, Binance offers a variety of transactions, as well as some excellent opportunities to earn without engaging in traditional trading. Yes, you are accurate. Consider the following methods of generating income without engaging in trading.

Right present, you may purchase bitcoin on Binance using a number of different ways. In addition to learning how to make money trading cryptocurrency on Binance, whether via our trading platforms or the Buy Crypto page, you can also learn how to obtain a good price on your cryptocurrency. Read on to learn more. The transactions, on the other hand, do not stop there. The need for bitcoin advising training is increasing, making it a highly advantageous time to enrol in a course right now.

It doesn't matter if you're not a trader; they provide a range of options for you to increase your cryptocurrency holdings. With Binance, you have the option of allocating your tokens to a variety of activities and services that we offer on a daily basis on the platform. What methods can I use to make money on Binance without having to trade?

Maintaining BNB, BUSD, and Other Cryptocurrencies on Binance Launchpool will allow you to farm new tokens.

In exchange for investing BNB into a liquidity pool, customers may receive crypto tokens from freshly launched projects via the Binance Launchpool. If you farm a portion of your BNB or other cryptocurrencies on Launchpool on a regular basis, you may earn free coin on Binance on occasion.

Binance Liquid Swap Can Help You Grow Your Stablecoins

This is the first automated market maker (AMM) pool product offered by a centralised exchange, and it hosts various pools of liquidity that allow its customers to exchange crypto assets with little slippage while also receiving a share of the interest earned by participating in the liquidity pool as a result of joining the liquidity pool.

To benefit from Binance Staking, stake your tokens

Since the beginning of 2019, Binance has supported the Proof-of-Stake mechanisms of numerous cryptocurrencies on our platform. Simply said, keeping (staking) your tokens on Binance gives you instant access to the staking schemes available for your crypto token. Binance Locked Staking enables you to earn additional tokens from any of the 25 cryptocurrencies that are supported without any restrictions. This is the closest thing you'll get to finding out how to acquire free coins on Binance without really purchasing any cryptocurrency and while still utilising the cryptocurrency you already have in your possession.

Binance Locked Staking Your Tokens for Higher Yields

Binance Locked Staking, which enables you to lock in your tokens for as short as seven days in return for improved rewards, is another option. It is possible to pick from six different locked staking alternatives, all of which are made accessible by the staking systems of the participating projects. Annual rewards may reach up to 16%, and there are various methods to gain free cryptocurrency in each option.

Take part in DeFi Staking.

Now that DeFi (decentralised finance) has been implemented, you will be able to take advantage of earning possibilities for your tokens. Binance DeFi Staking, for example, has released a number of products that provide annual returns of up to 60% utilising BNB, USDT, BUSD, and DAI, with further products to come in the future.

Profit from Binance Savings Products by earning interest.

In addition to offering a variety of savings alternatives for storing your cryptocurrency, Binance Savings also allows you to earn free coins on Binance depending on the returns they generate. You may choose for Flexible Savings, which enables you to deposit and withdraw money at any time throughout the year. You may choose for Locked Savings, which allows you to keep your cryptocurrency for a few days before withdrawing it in exchange for greater interest rates.

Wrapping up

It is possible to earn more assets on Binance regardless of whether you trade or not, as shown by the instances above. All that is required is that you get bitcoin and make use of one of the several alternatives supplied by Binance to do so. Learn how to trade cryptocurrencies and get started on your path to being a cryptocurrency expert now.

#cryptocurrency expert #cryptocurrency trading

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cladeymoore · 3 years

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Loot Project: the first community owned NFT gaming platform

Around the Block from Coinbase Ventures sheds light on key trends in crypto. In this edition, Justin Mart and Connor Dempsey explain what Loot Project is and why it’s interesting.

Pictured below, is a Loot bag: A text file consisting of 8 phrases overlaid on a black background. As it turns out, this text file is also an NFT, “Loot Bag #748,” and it sold for 250 ETH, or about $800,000 at current prices.

So what can you do with it? Not much… for now, at least.

Dungeons & degens

On August 27th, Dom Hoffmann, who notably co-founded Vine, introduced Loot. A project consisting of 8,000 NFTs full of words that depict “randomized adventurer gear.” Closer inspection reveals items that a character might wield in a game like Dungeons & Dragons. A Short Sword, or Divine Robe of the Fox, for instance.

While we’ve seen a lot of NFT drops over the last few months, two things set Loot apart. First, these NFTs could be claimed for free. The claimee simply had to pay the standard Ethereum gas fee. The other more obvious differentiator: these NFTs are just a bunch of words.

Despite the glaring lack of chimp or penguin art, once claimed, these plain text NFTs quickly started selling for tens of thousands of dollars. At the time of writing, $230M in Loot has changed hands.

https://medium.com/media/bcdc0eb3c6f7974f5ec960bf04ffa2a2/href

Loot NFTs under the hood

One’s knee-jerk reaction might be to dismiss Loot as just another symptom of speculative NFT fever. Loot does, however, introduce an interesting new NFT primitive. Before we get to what makes it interesting, it helps to understand a bit more about what a Loot NFT is.

Instead of just being a single provably scarce image, each of the 8 items within a given Loot bag has smart contract readable parameters. On top of that, each of the 8 items has its own rarity within the broader Loot universe.

Returning to Bag #748, while 6 of the 8 items are deemed “common”, the Short Sword and the Divine Robe of the Fox are decidedly rare. The Short Sword appears only 325 times across 8,000 Loot bags while the Divine Robe of the Fox appears only once.

Ok, so we have NFTs with Dungeons and Dragon-ey words on them that are smart contract compatible, with some words appearing less frequently than others. So what?

A community owned gaming platform

People appear to be excited about Loot not because of what the NFTs are, but what they could be. These NFTs were released into the wild and left to the interpretation of anyone who found them interesting. Anyone can build something using Loot NFTs as a foundation.

A sound analogy comes from Avichal Garg at Electric Capital, who likens Loot with a 52 deck of cards. Where on its own, a deck of cards is just 52 pieces of paper with pictures on them. With a bit of ingenuity, it’s also the foundation for thousands of games, from Poker, to Hearts, to Crazy 8’s.

Similarly, Loot and its 8,000 NFTs can serve as the foundation of an entire gaming metaverse. The ideal end state being an entire ecosystem of games where Loot items like the Divine Robe of the Fox serve different functions: think Dungeons & Dragons in the metaverse. Whoever builds something on top of Loot NFTs can determine the function served by a given item.

By building the foundation of a game, without building a game itself, Loot leaves its fate in the hands of a decentralized community. Whether or not one thinks it will be successful, it’s an intriguing idea to many.

So what are people building?

Early Loot experiments

For one, the image I showed above ranking the rarity of Loot bag #748 comes from an application built by someone named @scotato in the Loot community. By pasting your Loot contract address into 0xinventory.app, NFT owners can see the rarity of their Loot bag (note the ranking system was also devised by the community).

Another project called Lootmart will allow Loot holders to unbundle their Loot Bag into individual NFTs to swap items with other Loot holders, complete with AI generated images of individual items.

Similarly, lootcharacter.com was created to generate pixelated characters based on Loot bags. Here’s Bag #748.

A community member also spun up an ERC-20 token called Adventure Gold ($AGLD) while he was waiting at an airport. Anyone with a Loot bag could claim 10,000 $AGLD. FTX created spot and futures markets for the token and it hit a high of $7.70, meaning Loot holders were essentially gifted tokens worth $77,000 at their peak.

https://medium.com/media/ece0dcc12fd22f15eecfda930dd0f66e/href

The idea behind $AGLD is that it can serve as an in game currency woven into a game that gets built some day. But like Loot itself, its value is up for interpretation. This didn’t stop people from incorporating it into other budding Loot projects, including a Loot themed “choose your own adventure” story, where $AGLD holders can vote on the direction of the story.

In Chapter 1 of, “Holy War Lore”, $AGLD holders were allowed to vote on whether a man wearing a Divine Robe should put on a Demon King’s crown to absorb his powers (they voted that he put on the crown). In Chapter 2, the crown gets the man into trouble and there’s currently a vote on how he should handle the situation.

These are just a few examples of what the grassroots community of Loot enthusiasts has created so far. The Loot discord reveals wide ranging discussion with distinct channels for builders, artists, writers and a whole lot more.

Creating value from chaos

To recap, Loot is interesting because it inverts the typical gaming and community development path. The Loot creator simply built the foundation of a gaming universe and threw it into the wild to see what others would do with it. And so far, it has energized a diverse community, with a host of new Loot projects in development.

This excitement, coupled with the current NFT bull market sent Loot NFTs soaring, with the cheapest Loot bag trading for $23,000 today. There are however, no guarantees that anything resembling a real game or real utility ever gets built on Loot. Owning a Loot bag is a bet on future utility, which is up to the community to build.

This is the challenge that Loot faces. Can a decentralized community channel its enthusiasm into creating inherent utility in owning a Loot bag? That utility could come from creating strategy games similar to Axie Infinity where Loot items can be used in combat, artwork and avatars exclusive to Loot owners, or from some other application yet to be cooked up.

We are just two weeks into the project, so imagination is required today, but the appeal is tangible.

The cost of entry

A key question surrounding Loot is “Why would game developers build games that incorporate Loot bags when only a select few can afford them?” Developers build games that appeal to the mass market, but the vast majority of gamers are priced out of owning a Loot bag today.

The question of incentives lies at the heart of Loot’s future. Are there answers? Yes — a few. First, game developers who build on Loot have the benefit of bootstrapping their game with a core, passionate community of Loot enthusiasts. Second, and more importantly, there may be unique ways to incorporate Loot without pricing out the majority of the market. We can take inspiration from Axie Infinity and Yield Guild Games. When Axie NFTs got too expensive for most players to afford, lending markets emerged that let players borrow the NFTs needed to play in return for a portion of the winnings from Play to Earn games. We could see the emergence of Loot DAOs that devise similar solutions. Synthetic Loot is another solution being explored. Synthetic Loot lets anyone claim a pseudo Loot bag that can’t be sold or transferred but can be used in Loot games, should a developer choose to allow it. This in theory can open the door for more players.

While many questions remain, we’re in the early stage of a radically new kind of project that’s completely inverted the typical game development model. A self organized grassroots community is now tasked with taking Loot’s foundation and building something real, with all of the tools that crypto, NFTs, and metaverse economies have to offer. The burning questions surrounding Loot’s future make it one of the most captivating experiments in crypto; one that will be fascinating to watch play out over the coming months and years.

Coinbase news

Kate Rouch Joins Coinbase as Chief Marketing Officer

Coinbase updates investment policy to increase investments in crypto assets

Coinbase secures first crypto license in Germany

Coinbase Protocol Team Advances Crypto Community

Retail

Binance.US Hires Ant Group Exec to Succeed Ex-CEO Brian Brooks

Robinhood announces new crypto DCA investing feature

OpenSea bug destroys $100,000 worth of NFTs, including historical ENS name

FTX strikes ambassador, equity deal with NBA star Steph Curry

El Salvador launches Chivo wallet as bitcoin becomes legal tender

You can now mint NFTs on crypto exchange FTX

Twitter testing the ability to display Bitcoin and Ethereum addresses on profiles

Institutional

FTX.US acquires crypto derivatives exchange LedgerX

Mastercard acquires CipherTrace to boost crypto security and compliance

Former CFTC Commissioner, Brian Quintenz joins a16z Crypto’s advisory team

Panama lawmaker introduces proposed crypto regulation law

Bitso Is Providing the ‘Core Service’ for El Salvador’s Chivo Bitcoin Wallet

Australia, Malaysia, Singapore and South Africa will test cross-border CBDCs

SEC Sets November Deadline for Final Decision on VanEck Bitcoin ETF

Ecosystem

Ethereum scaling solution Arbitrum launches mainnet and raises $120 million in new funding

DeFi trading platform dYdX opens access to its governance token

Liquid staking protocol Lido now supports Solana’s SOL token

Eden, priority transaction network for Ethereum, raises $17.4 million in token sale

SubQuery, indexing protocol for Polkadot ecosystem, raises $9 million in SAFT sale

SEC is investigating decentralized crypto exchange developer Uniswap Labs: Report

Tweets

Burniske on how ETH maximalists are becoming the new BTC maximalists

Avichal Garg breaks down what makes Loot so compelling

An on the ground account documenting Bitcoin Day in El Salvador

The TLDR on the growth of Axie Infinity & Yield Guild Games

This website does not disclose material nonpublic information pertaining to Coinbase or Coinbase Venture’s portfolio companies.

Disclaimer: This material is the property of Coinbase, Inc., its parent and affiliates (“Coinbase”). The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Coinbase or its employees and summarizes information and articles with respect to cryptocurrencies or related topics that the author believes may be of interest. This material is for informational purposes only, and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations or (iii) an official statement of Coinbase. No representation or warranty is made, expressed or implied, with respect to the accuracy or completeness of the information or to the future performance of any digital asset, financial instrument or other market or economic measure. The information is believed to be current as of the date indicated on the materials. Recipients should consult their advisors before making any investment decision. Coinbase may have financial interests in, or relationships with, some of the entities and/or publications discussed or otherwise referenced in the materials. Certain links that may be provided in the materials are provided for convenience and do not imply Coinbase’s endorsement, or approval of any third-party websites or their content. Coinbase, Inc. is not registered or licensed in any capacity with the U.S. Securities and Exchange Commission or the U.S. Commodity Futures Trading Commission.

Loot Project: the first community owned NFT gaming platform was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

from Money 101 https://blog.coinbase.com/loot-project-the-first-community-owned-nft-gaming-platform-125fa1d5ffa8?source=rss----c114225aeaf7---4 via http://www.rssmix.com/

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