Crypto Weekly 10/1/2022

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CRYPTO HIDDEN GEMS Page 30

BEGINNERS GUIDE Page 32

NIKE`S METAVERSE

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CRYPTO IN 2022

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VIDEO OF THE WEEK

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WEEKLY $2 cryptoweeklymag.com January 2022 | Volume 09

DIGTAL CURRENCY Legitimized Page 40

FUTURE OF AR NFT`S

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FED`s TANK BITCOIN

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FLOWER FARMERS ATTACK POLYGON

Twitters Crypto Team

CRYPTO & THE METAVERSE Page 42

Vitalik Buterin`s VISION

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The GREAT BTC HALVENING Page 43

Kazakh BTC Mining SHUTDOWN Page 38

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EDITOR’S LETTER

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Crypto Weekly

Welcome to Crypto Weekly

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elcome to the 9th issue of Crypto Weekly. Last week I reported that crypto is on the edge of a great explosion of acceptance around the world and in a week's time we are witnessing a great crash due to U.S. government issues with crypto and the shutting down of the major mining hub of Kazakhstan. Nevertheless, the market recovered after the China ban and it will do so again after the current issues are history. Crypto is so important that it is shaking up the status quo and will continue to do so. We at Crypto Weekly are looking forward to the future right along with all of you. We the people simply must remove the power of money from government hands and take that power ourselves as it should be that we own our own sweat. This week I want to leave you with a quote from Arundhati Roy.

Nevertheless, the market recovered after the China ban and it will do so again after the current issues are history. Crypto is so important that it is shaking up the status quo and will continue to do so.

“Our strategy should be not only to confront empire but to lay siege to it. To deprive it of oxygen. To shame it. To mock it. With our art, our music, our literature, our stubbornness, our joy, our brilliance, our sheer relentlessness – and our ability to tell our own stories. Stories that are different from the ones we’re being brainwashed to believe. The corporate revolution will collapse if we refuse to buy what they are selling – their ideas, their version of history, their wars, their weapons, their notion of inevitability. Remember this: We be many and they be few. They need us more than we need them. Another world is not only possible, she is on her way. On a quiet day, I can hear her breathing.” – Arundhati Roy, War Talk Crypto Weekly will answer all of your questions. Whether you're new to crypto or have some experience, we're here to help. I hope you all have fun. Now that we have reached the end, it is time to turn the page, but let us know your thoughts. If you would like to see something featured, please get in touch with me. I feel I have finally found a home. editor@cryptoweeklymag.com

editor@cryptoweeklymag.com

cryptoweeklymag.com

www.cryptoweeklymag.com

Robert Stone Editor

January 2022 | Volume 09


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NEWS Crypto Weekly

Nike's metaverse strategy is heading into the 'next era' of digital commerce, reports Guggenheim

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ccording to a Wall Street analyst, Nike stock is headed for new highs this year due to its push into the metaverse. In a December 31 note, Guggenheim analyst Robert Drbul called Nike his "best idea" for 2022, saying the company is "progressing rapidly into the next phase of its history" that will be "digital." In 2021, Nike stock gained 18%, and Drbul gave the stock a buy rating with a price target of $195. Nike is the "leader in athletic apparel," according to Drbul, whose EPS estimates for 2023 and 2024 have been raised from $4.50 to $4.85. Drbul closely monitors Nike's evolving digital strategy, especially its participation in the metaverse, an online community. He asked, "How would the future of 2022 look without the Metaverse?."

This includes video games, a metaverse studio, and even a line of digital sneakers called CryptoKicks. A Beaverton, Oregon-based company announced its acquisition of influential digital sneaker brand RTFKT in December, which had previously received a $33 million valuation in a funding round led by Andreessen Horowitz.

known as Facebook, changed its name to Meta. Tesla's Elon Musk, for example, has snubbed the idea completely, as the concept has struggled to find a clear definition. Even so, many see nonfungible tokens, aka NFTs, as the key to unlocking this digital world where avatars of individuals can shop, play video games, build worlds, buy land, and more.

Nike has been promoting Web 3.0 and the metaverse as the future internet.

The metaverse entered the mainstream in 2021 when the company, formerly

This article was originally posted on Markets Insider 

January 2022 | Volume 09

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NEWS

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Crypto Weekly

Citing Past Predictions, Vitalik Buterin Discusses his Vision of Crypto Markets in 2022 about the market. One of the most impressive attributes of Vitalik Buterin is his openness and speed of accepting when he is wrong. In his thread, he has highlighted many predictions that he made and pointed out that he admits that some were correct while others were wrong. He also accepted that he did not predict everything, and some developments surprised him.

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italik Buterin, co-founder and developer of Ethereum, took to Twitter on Jan 2, 2022 to discuss his predictions and future expectations of the cryptocurrency market. Buterin discussed his past predictions and what he thinks about how they affect the market in the newly commenced financial year 2022.

What Buterin has to say about crypto adoption and regulation Founder of Ethereum, Vitalik Buterin, published an article entitled 'Internationality and censorship resistance of Bitcoin' in July 2013. The article explained how the premier cryptocurrency could safeguard the purchasing power of people from countries such as China, Africa, Iran, and Argentina. Buterin made bullish predictions on BTC before launching the

ETH network in 2015. Last week, Buterin visited Argentina to assess the crypto adoption there. Vitalik believes crypto adoption is high, however stablecoins are preferred since businesses use USDT. During the interview, he also discussed his past prediction regarding the negative impact of BTC on regulation. He said BTC would resist regulation since it falls in an undefined legal category. Buterin also believes that the coin’s decentralization allows it to survive but not thrive in a harsh regulatory environment. He added that such a project must be technologically robust and have public legitimacy for a successful censorship resistance strategy to work.

Vitalik Reviews His Past Predictions and How They Age In 2022 Commonly, the start of a new year provides the chance to reflect on past events to find the best way forward. While other crypto influencers and stakeholders predict a bullish year, Ether’s founder Vitalik Buterin has revisited some of his previous predictions. He shared this information on Twitter yesterday, including what he has learned so far and what he thinks

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Vitalik highlighted how he was an apologist for the overwhelming power consumption of PoW in 2012. However, he revealed that he was glad to learn about PoS as an alternative in 2013 and fully incorporated the idea in 2014. He tagged this transition as a broader intellectual evolution that makes ETH unique. Regarding PoS and Sharding, he said that he accepts that he made a wrong timing of when these innovations could be live on ETH’s network. During the interview, he revealed that he underestimated the complexity of the underlying software development task. As well, if developers wish stablecoins to remain strong in the face of the collapse of the USD, they must have good governance. Vitalik also discussed his vision for the Internet of Money. According to him, the transaction fees for this innovation should not exceed 5 cents per transaction. His DEV team works around the clock to find solutions to ETH's scalability problems. Buterin also acknowledged that his whitepaper predicted DeFi but wholly missed seeing the development of NFTs. He also described himself as naive for not considering the social and political hindrances of BTC, but now he has learned a lot. This article was originally posted on FX Empire  

January 2022 | Volume 09


NEWS

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Crypto Weekly

Twitter Launches Crypto Dedicated Team — A Move That Could Make Digital Assets The Currency of the Internet Yaёl Bizouati-Kennedy the metaverse but also to education and making crypto more approachable to the layperson," he said. "Users are part of a modern-day Renaissance. A whole new world is being built, and with companies such as Twitter prioritizing its development, it is closer than ever." Bitcoin CEO Jack Dorsey said that his hope for Bitcoin "is that it creates world peace or helps create world peace" at the B-Word Conference. This initiative aims to demystify and destigmatize mainstream narratives about Bitcoin.

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ith the launch of its dedicated crypto team, Twitter will focus on everything blockchain, crypto, and decentralized technologies, "including and going beyond cryptocurrencies." Twitter's move comes amidst a rapidly changing social media landscape, which embraces the metaverse at lightning speed. Twitter also launched Twitter Tips two months ago to tip content creators using Bitcoin via the Lightning network. Tess Rinearson, a crypto engineer, was hired by Twitter to lead the project. Rinearson tweeted. "As we build out the group, the team and I will figure out what crypto can do for Twitter and what Twitter can do for crypto. Twitter truly 'gets' crypto (hello Bitcoin tipping & NFTs!), but there's so much more to explore here." According to her subsequent tweets, the team will be exploring how it can support the growing interest among creators to use decentralized apps to manage virtual goods and currencies and support their work and communities. "Looking farther ahead, we'll be exploring how ideas from

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crypto communities can help us push the boundaries of what's possible with identity, community, ownership, and more," she tweeted. "Twitter Crypto will underpin all of this work, and serve as a 'center of excellence' for all things blockchain at Twitter. We'll be hiring for roles in engineering and product. If this sounds exciting, please get in touch! My DMs, as always, are open." Anthony Georgiades, co-founder and COO of NFT marketplace Pastel Network, told GOBankingRates that Twitter's move is a "massive watershed moment for the crypto ecosystem — like was the Meta announcement." "It is saying: 'Cryptocurrency, blockchain, NFTs, and the metaverse are here to stay. How can we aid in their progress and advancement? Having these technology giants officially 'backing' crypto will help attract more people to this still very novel world and will help increase the adoption and development of the metaverse. I also hope Twitter will dedicate resources not only to exploring the various applications of crypto in the social media sphere and

Our monetary system currently has all these monopolies of balance, but the individual does not have power, which distracts us from the more significant issues. Fix that foundational level, and everything above it improves in such a dramatic way, he said at the time. It will take time, but I hope to achieve peace. Mikkel Morch, Executive Director & Risk Management at crypto/digital assets hedge fund ARK36, told GOBankingRates that Twitter is betting on the idea that Bitcoin will become the native global currency of the internet through greater integration with crypto. In the mainstream, it is remarkable to see a company choose its future growth direction based on such a premise - a premise that may have seemed impossible just a year ago. "Whether we achieve such global adoption levels of Bitcoin remains to be seen, but there is no doubt that the future of the internet - and finance in particular - will be increasingly decentralized." This article first gobankingrates

appeared

on

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Readers get a chance to whitelist for the ambitious KAPEX project brought to you by Koda Cryptocurrency, Launch is expected next month (Feb 22) and public presale opens from 15th Feb. For more information visit https://KAPEX.me and join the conversation on telegram. Referral code: CWEEKLY22 2 random applicants will be accepted to band A, and 10 band B. Other applicants guaranteed standard presale if before 15th Jan (up to maximum allocation).


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FEATURE Crypto Weekly

During a brief change of name on Twitter, Musk briefly becomes Lorde Edge Yaёl Bizouati-Kennedy

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he same day that Elon Musk changed his Twitter name to Lorde Edge, a cryptocurrency of the same name was launched, whose price soared quickly. The website for Lorde Edge Coin (DOGELON) states: "Directly following Elon Musk's Twitter name change, this token pays homage to our one and only leader in mooning multiple projects such as DOGE, SHIB, and DOGELON." The Lorde Edge coin, which just started trading earlier Monday, appreciated more than 400% by 10:50 a.m. ET, according to CoinMarketCap data. According to CoinMarketCap, Lorde Edge's price was $0.00002235 today, up 89% over the past 24 hours. Musk also changed his Twitter name. There have been scores of speculation as to the meaning of the name. The creator

January 2022 | Volume 09

of Dogecoin, Shibetoshi Nakamoto, tweeted, for example, that Lorde Edge is an anagram for elder doge. "this doesn't mean it was intentional, but it is in fact an anagram," he later added. It's important to note that investors should be extremely cautious about new cryptos. Earlier this month, the "Squid Game" crypto SQUID completely crashed as it was revealed it an apparent scam, following a 33,600% surge a week prior, which had raised several red flags and had triggered a warning from CoinMarketCap. "We have received multiple reports that the website and socials are no longer functional & users are not able to sell this token in Pancakeswap.

Directly following Elon Musk's Twitter name change, this token pays homage to our one and only leader in mooning multiple projects such as DOGE, SHIB, and DOGELON."

There is growing evidence that this project has rugged. Please do your own due diligence and exercise extreme caution. While inspired by the Netflix show of the same name, this project is NOT affiliated with the official IP," CoinMarketCap said at the time. GOBankingRates reports that this type of theft, called a "rug pull" by crypto investors, occurs when creators of the crypto quickly cash out their coins for real money, draining the liquidity pool from the exchange. Its creators cashed out, robbing investors of an estimated $2.1 million. This article first appeared in GOBankingRates.  

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timerr.io

timerrofficial

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NEWS Crypto Weekly

How Could Binance's 'Biggest Growth Fund in Crypto History' Impact the Blockchain Industry? Yaёl Bizouati-Kennedy

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inance, a cryptocurrency exchange, has announced the launch of a $1 billion fund to push the adoption of the Binance Smart Chain (BSC) ecosystem. "Now is the time for #BinanceSmartChain to scale and achieve mass adoption. We are announcing the largest growth fund in crypto history - a $1 billion fund for not only BSC but the entire blockchain industry," Binance tweeted. According to a statement on Binance's website, the fund is divided into four groups, each different targeting challenges and goals. A total of $100 million is allocated to talent development, which includes mentoring developer communities, educating new crypto investors, providing academic scholarships to universities, running boot camps, and supporting the development of cutting-edge blockchain technologies around cryptography, multi-party computing (MPC), high-performance consensus protocols, cross-chain & multi-chain infrastructure, RegTech & Deep Analytics, and more. "We want to raise a generation of crypto-native professionals that will spread across

January 2022 | Volume 09

the industry and push blockchain adoption forward," according to the announcement. A $100 million liquidity initiative will run multiple programs to encourage traditional financial markets and crypto participation. "This will be targeted to developing compliant relationships between investors and evolving emerging digital asset markets," the statement says. Additionally, $300 million are set aside for a builder and incubation program to conduct regional and global hackathons, as well as incubate 100 innovative Decentralized applications (dApps), and infrastructure provides building on top of BSC who will receive mentoring from top venture capital and technical support from the BSC core community. Finally, $500 million will be set aside for an investment program "to accelerate mainstream adoption and to bring disruption to financial infrastructures," according to the statement. Binance says that the fund will grow decentralized computing, gaming, metaverse, virtual reality, artificial intelligence, and

financial services, which will not be limited to BSC but also support all the blockchain infra. "With collaborations from industry-leading organizations, the investment fund will target scaling blockchain technology for real-life use cases and will bridge the gap between crypto-blockchain and the current technical-financial sectors," according to the statement.

Building Wealth According to a statement, the exchange launched the Binance Smart Chain on Mainnet in September 2020, activating the parallel blockchain to Binance Chain that will enable the creation of smart contracts and the staking mechanism for BNB. "With the $1 billion initiative, we will focus on building multichain infrastructures that integrate with multiple types of blockchains," Gwendolyn Regina, investment director of the BSC Accelerator Fund, told Bloomberg. This article first appeared in gobankingrates

www.cryptoweeklymag.com


This Gem Won't Stay Hidden For Long

dexioprotocol.com

dexiochat


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FEATURE Crypto Weekly

the ecosystem quietly disrupting the crypto arena

rypto investors may be growing tired of the words hidden gem, and how they’re tethered to any newly launched crypto project being broadcast across social media. It’s estimated there are more than 6,000 different cryptocurrencies across all networks and most, if not all, have probably claimed to be the next hidden gem. Dexioprotocol is no different. Make a quick visit to their Telegram channel – with over 7,000 members and you’ll see that phrase used regularly to describe the project. But what makes Dexioprotocol different from all the rest? A whole lot, actually. Read on.

Introducing Dexioprotocol Dexioprotocol has a tagline like no other. Going back to that Telegram channel, which also features several

January 2022 | Volume 09

YouTube livestreams with CEO Don Reyke, and COO Greg Gould, and you’ll hear it repeated often: “Our vision is a world in which blockchain technology is mainstrveam and infinitely more people are connected by it.” It’s estimated between 3-4% of the world population is engaged with cryptocurrencies or blockchain technology in some way, and that number continues to grow. Dexioprotocol plans to help that growth through a medium most of the world is familiar with: Gaming. With a complete ecosystem of play-to-earn games, Dexioprotocol wants to introduce the world to the possibilities of blockchain technology. Their aim is to become the industry standard in Augmented Reality (AR)

application development, in addition to revolutionizing blockchain-based gaming, launching the most userfriendly NFT platform found to-date, and developing their own blockchain network and swap exchange. This isn’t a new project trying to build hype before delivering. Dexioprotocol has been quietly shaking up the blockchain space and setting itself apart from the rest since May 2021. In seven short months, they have successfully released:   Dexi Wallet, its digital wallet available now on the Apple App Store and Google Play   Dexigas (DXG), the gas token for the project for in-game transactions

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Crypto Weekly

Readers may recall the hype and fervor around Pokémon Go when it was launched in 2016. Consider Dexi Hunter the Pokémon Go for crypto, but on an entirely new level of technology and sophistication.

DexiMarketplace, an NFT marketplace for creators and collectors   DXG Game Emporium, a space to purchase or resell upgradeable gaming NFTs   DexiKnights, the first of its playto-earn games currently in open beta The five products launched in the first phase of Dexioprotocol’s development cycle set the keystones for the next part of the vision. Without the DXG token, the in-game currency model is incomplete. Without the DXG Game Emporium, the strategy for NFT gaming doesn’t make much sense. The team appropriately dedicated effort (and funding) to laying the foundation during its first phase so that the full vision, the complete ecosystem, can be realized. Dexi Hunter – Pokémon Go for Crypto? The product the community is most excited about is starting the closed beta phase of development. Dexi Hunter is an augmented reality bounty hunting game where “hunters” enter the Dexiverse and collect tokens, NFTs, game coins, QR codes… the possibilities are endless.

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Many projects launch their tokens without considering “how is this project actually going to generate revenue?” It’s easy to launch a token. It’s hard to launch a long-term company. The team behind Dexioprotocol has that vision in mind, and Dexi Hunter embodies their mission statement completely. Imagine going into your Dexi Hunter app and being directed to a bounty at a local coffee shop or bakery. Businesses can draw in customers by dropping bounties in the form of coupons within the Dexiverse. Imagine you’re a new NFT artist and are looking for a unique way to advertise yourself amid all the options available? These artists can drop NFTs to collect around the Dexiverse, introducing themselves to an entirely new group of consumers that may have otherwise been unknown to them. Remember the vision statement, “a world in which blockchain technology is mainstream and infinitely more people are connected by it?” Dexi Hunter brings blockchain technology to the masses through an app that drives consumers to search out this technology, introduces businesses to an alternative advertising in a medium outside their expertise, and encourages greater adoption and education around the technology. The app is in closed beta now and will be opened to select cities for additional beta testing in Q1 2022, and targets Q2 2022 for public release.

Smart Dexio Network – Proof-ofStake Blockchain The universal binding constraint on any crypto project comes down to the blockchain in which they are launched. Dexioprotocol is already putting its own blockchain, Smart Dexio Network, through its paces on Testnet, testing security, transactions per second, and underlying technology to ensure it provides an ecosystem allowing for innovation and creativity. On the

network, $DEXI will the native token, used for pairing, governance, staking, and gas fees. The Smart Dexio Network is based on the proof-of-stake concept using a worldwide network of validators to process transactions in the most costeffective and energy-efficiency way. Like Dexi Hunter, the Dexioprotocol team has been strategic about the long-term objective of the Smart Dexio Network. Ultimately, the partners of Dexioprotocol (charities, corporations, small businesses), will have the opportunity to launch their own proprietary tokens using SDN technology. Consider loyalty programs many businesses currently employ. The typical solution requires a punch card, digital app, or scannable loyalty card to reward its customers. The Smart Dexio Network takes that one step further, enabling these businesses to reward customer loyalty with an in-store blockchain-based currency. Again, Smart Dexio Network aims to bring blockchain mainstream, connecting more businesses with their customers through a technology that is gaining in popularity. The business now has a way to reward, track, and develop its customer base using their own token, putting them on the forefront of blockchain adoption.

Hidden Gem Material? As always, DYOR, but Dexioprotocol looks to check all the boxes that serious investors look for as they search for socalled hidden gems. The team has been focused on quality and function and can be quoted saying “our intention was to never be a pump-and-dump.” Compared to other tokens launched on the Binance Smart Chain, their eightmonth lifespan can be considered an eternity. With a proven track record of releasing products and a clear plan for the road ahead, Dexioprotocol is indeed a contender for the covetous Hidden Gem title.

To learn more, visit: dexioprotocol.com

dexiochat

January 2022 | Volume 09


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FEATURE Crypto Weekly

Who is Paul Krugman, and why does he care so much about Bitcoin? By RAKESH SHARMA

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aul Krugman wrote an op-ed for the New York Times in 2018 titled "Why I'm a Crypto Skeptic." Krugman asks: "What problem does this technology solve? What does it do that those other technologies, that are much cheaper, and easier to use, can't? I have yet to hear a clear response." Since we first examined the op-ed he published from Europe in 2018, a result of pondering Bitcoin and blockchain while hiking and biking in various parts of Europe, the Nobel Prize-winning economist's views haven't changed much. As of 2018, he stated that it sets

January 2022 | Volume 09

Updated January 03, 2022 the monetary system back 300 years when gold was the primary form of exchange, and there does not appear to be an upside to this regression. "Even now, Bitcoin and its relatives haven't yet achieved any meaningful economic role. What happens to their value is basically irrelevant to those of us who aren't in the crypto game."

LESSONS TO TAKE AWAY Nobel laureate economist Paul Krugman has never been a fan of Bitcoin or cryptocurrency. Krugman argues that digital tokens serve no economic

purpose and that their valuation is tenuous. Whether or not Bitcoin is genuinely a bubble remains to be seen, but many prominent thinkers strongly disagree with Krugman's position.

Is Bitcoin facing two strikes? Krugman describes two strikes against Bitcoin: transaction costs and tethers. The first one is transaction costs. If we look at the history of money over time, there is a broad trend towards increasing convenience. Currencies

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Crypto Weekly

have made transactions more accessible and cheaper over time. The transaction costs for gold are high because it's heavy and bulky and is considerably expensive to store. Fiat currencies incur lower but still significant transaction costs because they are paper-based. Subsequent shifts towards checks and credit and debit cards have further decreased the need and costs for paper-based currency. In turn, this has led to them being widely adopted by countries worldwide. That they are widely accepted provides further impetus for their use. In contrast, Bitcoin has significant transaction costs in its energy requirements. It is also not widely accepted and further increases the costs required to conduct practical commerce using Bitcoin. The second strike against Bitcoin is its lack of tethering capability. In practical terms, this means that there are no real backstops available to it as they are to paper money and gold. Government backing provides credibility to paper money. Gold has practical applications

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in jewelry and industry that provide "a weak but real tether to the real economy." On the other hand, Bitcoin has neither a physical application nor a central authority that vouch for its status as a medium of exchange. According to Krugman, "if speculators had a collective moment of doubt, fearing that Bitcoins were worthless, then Bitcoins would become worthless."

Bitcoin Is a Bubble? To be sure, this is not the first time that Krugman has come out against Bitcoin. Back in December 2017, when Bitcoin prices were shooting to record highs, Krugman said that the cryptocurrency was an obvious bubble. He said its prices were going up because it was "some fancy technological thing that nobody really understands." He argued similarly in his more recent op-ed, saying that Bitcoin had no backing or anchor. However, he said the Bitcoin bubble could continue for a long time. In his more recent May 2021 op-ed, he argued similarly, reiterating that he believes the Bitcoin bubble could go

"Even now, Bitcoin and its relatives haven't yet achieved any meaningful economic role. What happens to their value is basically irrelevant to those of us who aren't in the crypto game." on for a long time, likening it to Bernie Madoff's Ponzi scheme. The reason? Because Ponzi schemes excel where there is a strong narrative, and Krugman believes that the "narrative" is where crypto "really excels." This article first appeared in Investopedia

January 2022 | Volume 09


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EDITORIAL Crypto Weekly

world, in which ownership is more decentralized," Kian said. Building Wealth Phillippe Bekhazi, co-founder and CEO of XBTO Group, a global crypto finance firm, echoed the sentiment, telling GOBankingRates that crypto is poised to play a significant role in the metaverse. "There are the emerging technologies, such as NFTs and social tokens, that could be used for everything from playing games and earning serving as incentives for holding virtual concerts for influencers and their fans," Bekhazi said. "What I think is under-appreciated is the role that major cryptocurrencies could play.

ismagilov / iStock.com

How the Metaverse Relates to Cryptocurrency F acebook's name change to Meta last month has accelerated the growth of the metaverse, both in cultural awareness and financial terms. Several big-name companies embrace the concept, and some analysts have called it "the next big investment theme."

According to Igor Tasic, CEO of Meta Ventures and Founder of Metaverse advisory firm, the metaverse goes beyond virtual reality and augmented reality and can be the ultimate equalizer of the 21st century by allowing people to combine their physical and digital existence into an authentic hybrid experience. "We are living in a moment of transition in the metaverse. I believe even the way we refer to "it" will evolve," Tasic told GOBankingRates. "Like in the past, we called the internet the "web," "Infoway," and now, "the cloud." "It seems to be more of a natural next step of the internet in which the experiential aspect will take place," he added.

January 2022 | Volume 09

Building Wealth

Earlier this week, Morgan Stanley said that the metaverse - an alternate universe where individuals can model their image to whatever they want and perform real-life tasks like shopping, playing games, and other activities "can fundamentally change how we socialize." But what is the connection between the metaverse and crypto, and how does crypto play a role in it? Sina Kian, VP of Strategy at Aleo, a blockchain platform for fully private applications, told GOBankingRates that crypto is a fundamental part of the metaverse because it allows ownership of digital assets, and ownership will create incentives to invest. Nonetheless, Kian said the potential oligopoly in the metaverse poses one of the greatest threats, recreating monopolies in the digital age. "The most important thing that crypto offers is a potential alternative to that

Digital currencies are primed to be used as a payments system between various parties within a metaverse-like digital world," he continued. "In some future metaverse, even crypto traders will trade Bitcoin and other crypto assets via a VR/Acrypto-assets system. With the help of digital avatars, they could negotiate "in person" about the price of crypto assets. The possibilities could be limitless, and we are excited to see what comes of this," Bekhazi concluded. Other experts explain that the metaverse is more than just AR/VR and cartoon avatars. Chris Fortier, Vice President of Product at Rally, says that a metaverse is any form of online engagement, such as participating in a Zoom call or commenting on your favorite creators' social posts. Social tokens can be minted using this blockchain ecosystem. GOBankingRates spoke with Fortier about the importance of crypto in the metaverse. Crypto allows for extreme ownership of tokens, but tokens are far more than just money." "Let's tokenize the time and effort of creators and communities in our digital metaverses (both web2 and web3). That may mean amplifying a tweet, fulfilling a fan's T-shirt order, or introducing a new member to crypto. Web3 communities now can recognize and reward that digital labor," he said. This article first appeared on gobankingrates

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FEATURE Crypto Weekly

Introducing

Hololoot: The future of AR NFTs H

ololoot is a nonfungible token (NFT) creator, marketplace, and Metaverse for augmented reality (AR). The NFT market is exploding, but one segment remains in its infancy: augmented reality. A year filled with metaverse narratives predicting a future in which virtual reality, augmented reality, and mixed reality systems will become as commonplace as regular smartphones, the absence of AR platforms has been shocking. Hololoot is the first AR NFT generator, marketplace, and Metaverse that is designed for wide adoption. The app was created by AR industry veterans combining the best of 3D modeling with the unique properties of NFTs to create an app that is both powerful and easy to use. More than one billion smartphones are already AR-ready: Almost every smartphone is capable of having an

January 2022 | Volume 09

augmented reality experience. Through Hololoot, hundreds of millions of people can access the 3D Metaverse without purchasing expensive virtual reality headsets. Hololoot intends to make AR accessible, fun, useful, and profitable in this largely untapped sector of the NFT movement. A user can browse an extensive cloudbased marketplace, load and inspect assets on demand, and print new AR NFTs by using 3D models through an intuitive interface. Hololoot is selfservice, unlike other AR apps requiring backend administration to add or modify assets. With the AR platform, users can create AR assets, mint NFTs, and participate in the marketplace without any platform support. The lack of this functionality in the current market for augmented reality makes Hololoot the clear frontrunner in bringing this technology to the masses.

As an official partner of Enjin, Hololoot is proud to work with them. In addition to their social gaming platform, Enjin empowers developers with a suite of easy-to-use SDKs that facilitate creating and managing virtual goods on the Ethereum blockchain. A number of gaming projects have partnered with Hololoot to arrange exclusive AR NFT drops so far, and as Hololoot's collaborators and partners expand, so will Hololoot. The project has reached an important milestone after its recent launch, but its journey is just beginning. The staking mechanics are designed to lock capital in both liquidity and the ecosystem for as long as possible by offering unique rewards to stakes. When staked, customers receive attractive annual percentage yields (APYs) and receive NFT drops. Hololoot's full power can only be reached with Hol.

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Crypto Weekly

HOL tokens will become more valuable as Hololoot grows. The Hololoot ecosystem is fully unleashed through HOL, from marketplace discounts to access to premium features and services.

AR and NFTs are made possible with Hololoot45 A virtual and physical interface is created by AR, allowing us to engage with both worlds. AR interfaces will become increasingly crucial as NFT applications are explored and as our lives continue to migrate online. The NFT will be associated with everything from art to in-game drops to clothes, furniture, and accessories, and AR will bring these things to life. Hololoot

has made it easier than ever before to engage with AR NFTs. Hololoot AR products will be available for viewing on the new AR glasses using a new chip from Microsoft. Consumers and businesses alike would use lightweight augmented reality glasses with metaverse apps with the custom chips. During a press conference at Consumer Electronics Show in Las Vegas, Qualcomm CEO Cristiano Amon expressed his intention to work with Microsoft to create virtual worlds that people can work in and play in. According to him, the collaboration will produce future devices that will

Learn more about Hololoot:

www.hololoot.io

hololoot

work with Microsoft's Mesh software, allowing users to project their realistic likeness into the headset of another user so that it feels as if they are in the same room together. In addition, Qualcomm's future hardware will also use software called Snapdragon Spaces, which helps map out and overlay digital objects on physical spaces and track hand movements so that users can manipulate those objects with hand gestures. "We've talked about wearable augmented reality devices for years," Amon, one of the few major technology executives to attend the trade show in person, said from a live stream on stage at the trade show. The three companies have not announced when the chips and headsets will be available. Rubén Caballero, Microsoft's corporate vice president for mixed reality, said, "We want to inspire and empower others to shape a future based on trust and innovation." Portions of this article originally appeared on Opera News

www.cryptoweeklymag.com

January 2022 | Volume 09


18

EDITORIAL Crypto Weekly

Is 2022 going to be a big year for cryptocurrencies? C

ryptocurrencies made several breakthroughs in 2021. New crypto applications such as non-fungible tokens (NFT) gained traction, with sales of these digital assets setting new records at major auction houses. Secondly, Bitcoin made strides towards mainstream acceptance, with websites like Expedia and Microsoft accepting the coin as payment. Third, El Salvador became the first country in the world to accept Bitcoin as legal tender in September. There are many other examples of how the cryptocurrency market grew last year. In the following

January 2022 | Volume 09

year, cryptocurrencies will gain traction in three main areas: greater acceptance of Bitcoin as a means of payment, increased regulatory scrutiny, and a surge in NFT activity. How will cryptocurrencies fare in 2022 with this increase in activity?

System trust By word of mouth Quality of the web platforms available for transaction Perceived riskiness of the investment

The embrace of Bitcoin

Expectations about Bitcoin's performance

Researchers have struggled to figure out why individuals adopt Bitcoin. Five main factors contribute to someone's likelihood to use Bitcoin, according to a recent study:

In addition to gender, age, and educational level. In the near future, Bitcoin is increasingly likely to become mainstream due to the conditions in

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Institutional involvement, regulatory scrutiny Researchers have identified institutional adoption as a turning point for widespread crypto adoption. It would appear we're rapidly approaching it. Institutional players like the European Investment Bank (EIB) - the lending arm of the European Union - have taken positions on crypto in the last year. IN APRIL, the EIB issued a 100 million euro digital bond on the Ethereum blockchain. Société Générale, Banco Santander, and Goldman Sachs were also involved in the issuance. Altogether, the increased availability of points of sale that accept Bitcoin as a means of exchange and institutional investment in the space will likely lead to greater acceptance of Bitcoin as a payment method in 2022.

NFT sales are setting records, with the latest one at Sotheby's raising $17.1 million. To facilitate the sale of digital works, the auction house launched Metaverse, an NFTonly marketplace the crypto space. In May 2021, a tram in Hong Kong advertised Bitcoin. The first trend is the increased activity in online communities like Twitter and Reddit, where even crypto novices can share information with seasoned investors to obtain word-of-mouth advice about price predictions and trading strategies. Second, there has been an explosion of new cryptoexchanges - trading platforms where one can exchange fiat currency for crypto - and significant investments into the technological infrastructure of existing exchanges. These infrastructure investments have expanded access to crypto markets and piqued institutional investors' interest.

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Fintech's next frontier is decentralized finance (DeFi) after cryptocurrencies. DeFi provides the possibility of creating decentralized systems that use distributed ledger technology to facilitate peer-to-peer loans, create new financial securities like stablecoins, and even provide new models of corporate governance. The EU is increasingly accepting cryptocurrencies. A growing number of regulators are also paying attention. Earlier this month, the European Council - which determines the political priorities of the European Union - announced its position on the Markets in Crypto Assets (MiCA) framework, which will provide greater regulatory clarity over crypto assets. The Federal Reserve Board of Governors, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued a joint statement announcing that they would produce a set of policy directives on crypto in the same month. Researchers have pointed to a lack of regulation as a significant barrier to mainstream crypto adoption. A combination of increased government oversight and the move by several countries to consider digital versions of their national currencies

Crypto investors should remain skeptical of claims made in online communities, regardless of these investment opportunities is likely to result in more regulatory activity in 2022.

An increase in NFT activity An NFT can provide proof of ownership of digital art, similar to how a physical canvas can own a Vincent Van Gogh painting. Used initially to formalize the ownership of digital art, NFTs have expanded to include other types of digital property, including digital real estate. New sales of NFTs began in 2021. NFT sales are setting records, with the latest one at Sotheby's raising $17.1 million. To facilitate the sale of digital works, the auction house launched Metaverse, an NFT-only marketplace. This space will likely grow in 2022 as new NFT applications emerge. The NFT artwork will be displayed at Art Basel Miami Beach in November 2021. (AP Photo/Lynne Sladky)

Warning: buyer beware Crypto investors should remain skeptical of claims made in online communities, regardless of these investment opportunities. Investing in crypto should at least be accompanied by due diligence. What if there will undoubtedly be new frauds and schemes in 2022? It was scammed by SquidGame, a company that capitalized on Netflix's popular show. The fake Banksy NFT sold for 244,000 British pounds. Several studies have found that retail investors are highly susceptible to the "fear of missing out." So, it may be difficult to ignore a tip from your hairstylist or your best friend's cousin about the next ample crypto opportunity. However, when it comes to investing in cryptocurrency, investors should educate themselves about the technology and the basics of financial markets. Since crypto is speculative, not everyone should invest in it. 

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of the

week

NFT

World's 1st Appreciating Stablecoin from XSurge is the Key to Becoming Your Own Bank

January 2022 | Volume 09

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22

FEATURE Crypto Weekly

We might be able to enter the metaverse faster using decentralized social media on Solana's blockchain Yaёl Bizouati-Kennedy

C

o-founders Alexis Ohanian of Reddit and Seven Seven Six will partner with the Solana Foundation to build a decentralized social media network using Solana's blockchain. During the Breakpoint Conference in Lisbon, the announcement was made on Tuesday, Nov. 9. "Web3 is the future of social." Alexis O'Hanian announced our partnership with Solana Ventures and a $100 million initiative to build decentralized social media on Solana's blockchain," Seven Seven Six tweeted. As Ohanian and Solana co-founder Raj

January 2022 | Volume 09

Gokal predict, the metaverse ecosystem will rapidly change.

built on blockchain," according to the panel video.."

"With a high-performance blockchain like Solana, there is an unprecedented opportunity to marry social and crypto in a way that feels like a web2 social product, but with the added benefit of giving users ownership. The panel video shows Solana's Gokal saying, "We will be living in the metaverse faster than anyone thinks. It's going to happen." In another tweet, Ohanian said, "We're searching for the next social platform

"The rise of Solana and the cycles in the blockchain industry have been getting faster. I think this next wave of companies will get to — we said it at the top of this conference — a billion users. And we didn't set a timeline. We said it could happen as fast as possible. I think it could happen in 12 months, 18 months. It's very feasible if we build this future." Gokal thinks this will happen in waves. "Applications and protocols will quickly

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Crypto Weekly

saturate to a billion, four billion users in rapid succession because it doesn't have to be a competition. It's just ideas and changes and protocol shifts and forks that can propagate very quickly," Gokal said."I think this future will happen very quickly, and it's all connected, right? This is why we wanted Solana to be one giant global state machine. A lot of people call it monolithic, yeah it's monolithic, that's the point it's all one computer we can build all this together on," he added. Mahesh Vellanki, a co-founder of Rally and SuperLayer, a venture studio building web3 consumer apps, told GOBankingRates that building decentralized apps for consumers presents unique challenges due to slow web3 experiences and exorbitant fees. "The Solana network was brilliantly designed to bypass these challenges and can host incredibly versatile and complex applications via smart contracts. This will be an important space to watch as the internet moves towards more community-owned models," Vellanki added.

more sense to create that amazing user experience that people have come to expect. That's it. At the end of the day, that's what wins. And you tie that into being able to actually own the content you create and actually getting rewarded for things like community building. It's going to be exhilarating," according to a video of the conference.

The commitment was initially for $50 million, but Ohanian increased it to $100 million, at an onstage panel, during the Lisbon conference. "We can do things on Solana that just make so much

Ayesha Kiani, VP of business development at LedgerPrime, a quantitative digital asset investing firm, told GOBankingRates that this investment is testimony to the emerging

Web 3.0 alternatives to the existing social media giants that "monetize users by extracting as much data as possible for sharing with a wide variety of often unknown actors." "However, Web 3.0 social media platforms will incorporate blockchain systems that will give users more control over their data. Hence, they are the ones earning money from that data, instead of letting third parties do whatever they want with it," Kiani said. This article first appeared in gobankingrates

The Solana network was brilliantly designed to bypass these challenges and can host incredibly versatile and complex applications via smart contracts. This will be an important space to watch as the internet moves towards more community-owned models Mahesh Vellanki Co-founder, Rally and SuperLayer

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24

FEATURE Crypto Weekly

Significant Moments That Will Change the Crypto Market in 2022 Pierre Raymond

A

s global markets struggle within whirlwind economies, most parts of crypto market trends have been unpredictable. In November, there was a brief moment when market value surpassed $3 trillion, as altcoins led to increased market cap and volatility while leading traders influenced overall performance. However, despite the pandemic looming over most financial indicators, digital currencies have remained stable.

January 2022 | Volume 09

Experts are already looking ahead to the year ahead, as nonfungible tokens (NFTs) and blockchain-based applications are set for another record-breaking year. A brief look at some of the significant moments we can expect in the cryptocurrency market in the coming months follows.

The future of NFTs is bright As value and demand increase, we can expect the coming year to

experience immense traction among buyers and traders. As a result of the introduction of nonfungible tokens or digital assets early in 2021, major auction houses such as Sotheby's and Christie's have already seen success, selling valuable NFTs to buyers seeking to diversify their digital asset portfolios. Since the crypto community has found it a lot easier to trade NFTs, digital platforms have already surpassed $15 billion in 2021. As digital authentication certificates

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Crypto Weekly

become the second most valuable cryptocurrency on the market. ETH is now a major competitor against BTC and other altcoins because of this boost. A third competitor, Solana, is also being closely watched by experts. In spite of concerns regarding the future of Solana (SOL) in 2022, its token value grew from $1.59 in January to more than $250 in November 2021.

increase the authenticity and value of these "one of a kind" assets, they have become a stronghold for many.

Why has popularity suddenly soared? In an article published by Harvard Business Review, analysts narrowed it down to one critical factor. Owners of NFTs can become shareholders of a profitable movement by participating in a digital or virtual club. It allows them more freedom and leniency to trade off any piece of a digital property via a decentralized platform. NFT programmability development has allowed them to form part of organization profit modules. Creators are still entitled to a portion of the profits if the NFT is resold or traded again.

Financial decentralization There has been an ever-growing interest surrounding decentralized finance, or DeFi platforms throughout 2021, as the technology underpins both cryptocurrencies and NFTs. DeFi has left a powerful message on global consumers, enabling them to freely trade and transact. Already we see some

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eCommerce sites and retail giants looking to move towards a DeFi space, it has left many wondering how long the bubble will keep expanding before government intervention will see its ultimate demise. Pulling away the tarp reveals an evermore convoluted continuum that shows the complexities on which blockchain and DeFi technology is built. Recent developments have already made it easier for everyday individuals to form part of the future of trading. Ultimately, this environment will only keep increasing in the coming months, as the crypto market will prove once again its stability and influence within the global economy.

The Ethereum versus Solana Debate Due to the ongoing war between Ethereum and Bitcoin, ETH has

Within the first half of 2021, SOL is expected to be among the top five digital currencies to trade. Currently, SOL can process more than 700,00 transactions per second, while ETH can only process 15. While Solana still has a long road ahead, we can see that it might become a strong contender for other digital coins.

This year's predictions are ambitious The world is watching closely to see how it performs in the coming months, and some are hoping for an increase in price. Bull traders have placed some ambitious predictions for the crypto market on the table, with Abra CEO, Bill Barhydt predicting BTC will reach the $100,000 mark. Already BTC was down by more than 30% between November and December 2021, as new regulations and government intervention pegged the crypto bubble. All around, the crypto community has been making some bold predictions, with BTC leading the pact. For the most part, we're not quite yet sure how the crypto market will perform in 2022, as tightening regulations from various government entities are closing in on digital currencies and assets. There is, however, strong support from buyers and traders is willing to tie all loose hanging ends together to ensure the market can outperform standing predictions. This article was originally posted on FX Empire

January 2022 | Volume 09


26

FEATURE Crypto Weekly

The release of the Fed minutes caused Bitcoin to tank. Find out why. By

Daren Fonda Updated January 5, 2022, 4:30 pm ET / Original January 5, 2022, 4:06 pm ET

Like gold, Bitcoin is said to be inflation-proof because of its limited supply. When the Federal Reserve released the minutes of its December meeting, the price of Bitcoin fell sharply as policymakers expressed concerns over inflation and the possibility of interest rate increases as early as March. Fed minutes from the Dec. 14-15 meeting suggest the central bank may cut its $8.8 trillion balance sheet "relatively soon" after raising its benchmark federal-funds rate. The Bitcoin price fell more than 4% after the minutes were published, from around $46,000 to $44,200. Bitcoin's decline was accompanied by a sharp slide in equities, with the tech sector being particularly hard hit. Shortly after 3 pm, the Nasdaq Composite Index fell 2.7% to 15,190, doing worse than the broader S&P 500, which fell 1.4% to 4,725.

January 2022 | Volume 09

Bitcoin wasn't the only cryptocurrency falling hard on prospects for higher interest rates and tighter financial conditions. Ether was off 4.6% to $3,640. Many other "alt-coins" were faring worse, with Solana down 6.3% to $158, Cardano off 5.4% to $1.25, and Terra falling 7.4% to around $80. The selloff in Bitcoin is another sign that it is acting more like a tech stock than an inflation-fighting store of value–or digital gold, as its proponents argue. Bitcoin's limited supply of 21 million coins means that it can't be depreciated like fiat currencies that are vulnerable to inflation and loss of purchasing power, Bitcoin's fans argue. But it has failed to hold up, at least in the short term, coming under pressure as the Fed and other central banks pare back on excess-liquidity measures and prime the markets for higher rates this year. Other cryptos also appear to be performing more like emerging-tech bets than

alternative assets, correlating with the performance of the Nasdaq in the near term. Higher interest rates and tighter financing conditions are designed to prevent inflation from spiraling further. A side effect, though, is that they tend to hit speculative assets as investors opt for safer investments. Tech gets hit hard as investors rotate into value, energy, and other sectors that could do better in an inflationary climate. Indeed, Bitcoin's slide has coincided with the 10-year Treasury yield surging from 1.52% on December 31 to 1.71% currently. If Bitcoin and other cryptos aim to be viewed as true alternative assets, they will need to start performing that way. So far, the markets are treating them like speculative, high-growth bets, vulnerable to the same financial conditions now pushing tech stocks into a tailspin. This article first appeared on Barrons

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FEATURE Crypto Weekly

The Cryptocurrency in Kazakhstan Is it too vulnerable to political forces?

Vance Cariaga

T

his week, Bitcoin investors received another reminder of the cryptocurrency's vulnerability, as its value plummeted to its lowest point in months after chaos shut down the second-largest mining hub. Cryptocurrencies, in general, have lost value recently. Earlier Friday, Bitcoin's price fell below $42,000 for the first time since late September, CNET reported, continuing a drop of more than 12% over the past seven days. After trading above $4,000 for much of December, Ethereum fell below $3,200 Friday morning. While other cryptocurrencies have suffered from uncertainty involving everything from interest rates to the Omicron variant, part of Bitcoin's slump can be traced to something else: deadly protests in Kazakhstan, which ranks second to the United States in mining the cryptocurrency. Anger over fuel shortages in Kazakhstan has led to massive instability in the central Asian nation — so much so that Kazakh President KassymJomart Tokayev sacked the country's

January 2022 | Volume 09

government paratroopers reported.

and asked Russian to help out, CNBC

He also ordered Kazakhstan's telecom provider to stop internet service on Thursday — a move that sent an estimated 15% of the world's Bitcoin miners offline, CNBC said, citing comments from Kevin Zhang of digital currency company Foundry. It comes only a few months after China banned cryptocurrency mining and all crypto transactions within its borders. This decision may have been nothing more than a way for China to expand its government-sponsored digital currency, the digital yuan. Many Bitcoin miners moved their operations to Kazakhstan following the China ban and were surrounded by uncertainty due to political forces. Internet service was later restored to Kazakhstan. The question is how much confidence Bitcoin miners have in the country's stability and where they will go next if the chaos continues. Some experts say the U.S. might soon see a new wave of crypto miners looking

The question is how much confidence Bitcoin miners have in the country's stability and where they will go next if the chaos continues. Some experts say the U.S. might soon see a new wave of crypto miners looking for a safer haven for a safer haven. Meanwhile, miners face yet another challenge they didn't foresee even a few weeks ago. According to Zhang, previous bottlenecks and congestion related to hosting capacity will worsen. "Hosting capacity is in high demand." This article originally appeared on GOBankingRates.com  

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Ethereum becomes most oversold crypto in two years

Fasika Zelealem

A

ccording to the Relative Strength Index (RSI), oversold levels of Ethereum have reached a high that traders hadn't witnessed for almost two years, according to the Relative Strength Index (RSI). Ethereum's recent price drop was illustrated by the RSI, an indicator that measures momentum to determine overbought and oversold conditions. These two

cryptocurrencies have both reached record highs in recent months, and 2022 has begun with a sobering realization of their volatility. Ethereum lost 10% from $48,123 to $42,317 in the past week, while the price of Bitcoin dropped by 10% to $48,123. In December 2001, Ethereum reached a record high of $4,854 and was worth $3,248 at the time of writing.

Why did the market plunge? Several reasons were found to explain Ethereum's drop, most notably the Federal Reserve December meeting findings that demonstrated its intention to push through a faster schedule for raising interest rates in 2022. The interest-rate futures market suggested that an increase was likely to occur in March, and Ethereum dropped minutes after the findings were released. Investors across smart contract platforms may be wise due to fears of higher inflation, according to Fundstrat Global strategists Sean Farrell and Will McEvoy. "Due to the macro backdrop, leverage within the Bitcoin market, and recent robustness in the altcoin market, we believe it's appropriate to overweight Ethereum and other smart contract platforms," they said.  

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January 2022 | Volume 09


30

HIDDEN GEMS Crypto Weekly

PROJECT 1

EagleEyeToken.com

Eagle Eye (EagleEye)

EagleEye Token is a recently launched project aimed at increasing security on the Binance SmartChain. What makes EagleEye stand out against competitors in the same space – and cryptocurrencies in general – is the fully operational Telegram contract analyzer bot that they provide. Not only is the product already functional and streamlined, EagleEye has also made it available for free to any Telegram user. Through a simple command syntax, users can learn about any deployed contract – including honeypot and delayed honeypot mechanisms, exorbitant taxing and siphoning functions hidden within the code. Over time, their available security suite will expand to include

PROJECT 2

vaultdefi.com

both free and premium tools to help identify and avoid scams and fraudulent contracts. On the tokenomics side, EagleEye provides users with holding rewards that amplify investment incentives – this includes options in BNB and BSC tokens, promotional tokens, or compounding for additional EagleEye with no associated taxation. Ongoing development is focused on an API for direct anti-scam integration and a database of scam contracts and the malevolent code that drives them. Some of these newer features will require users to hold EagleEye tokens to gain full functionality – but the original Telegram analyzer bot will remain free into the future.

Vault Defi (VAULT)

Vault_DeFi

The world of decentralized finance (“DeFi”) is growing before our eyes. There is endless potential in this vast new frontier. Unfortunately, as with any disruptive technology, ethics and standards are struggling to keep pace with the new technology. For every memecoin that rides a wave of hype and inexplicably reaches the moon, there are thousands more that crash. Plenty of scam tokens, known as "rugpulls" and "honeypots", are just modern-day incarnations of the classic con. Even well-intentioned developers can unwittingly create security vulnerabilities, causing a good project to become worthless in an instant. VaultDeFi was created specifically to address these problems. From the beginning, Vault has focused on security, transparency, and education. Ongoing Certik audits have certainly not been cheap, but they protect investors against lurking exploits.

January 2022 | Volume 09

EagleEye_Token

EagleEye_Token

VaultDeFi The core development team has poured countless hours into real-time voice and video conversations with investors. Many educational videos have been published to educate newcomers on important DeFi concepts. CEO Jennifer has a formal education and years of experience in the emerging “FinTech” field – all at a moment in history when almost no one else does. “DeFi Mark”, the smart-contract prodigy behind the xSurge ecosystem, means that Vault smart contracts have functionality and efficiency not seen elsewhere. Transaction fees are lower, security is stronger, and the user experience is simpler. In the uncharted new world of decentralized finance, having the right team is everything. Good ideas quickly become played out. Only smart leaders see bubbles coming, and only honest leaders admit when a change is needed. Having both is the only path to success, and that’s what you’ll get with VaultDeFi.

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Crypto Weekly

PROJECT 3

dexioprotocol.com

Dexio Protocol (DEXI)

dexiochat

It’s estimated between 3-4% of the world population is engaged with cryptocurrencies or blockchain technology in some way, and that number continues to grow. Dexioprotocol plans to help that growth through a medium most of the world is familiar with: Gaming. With a complete ecosystem of play-to-earn games, Dexioprotocol wants to introduce the world to the possibilities of blockchain technology. Their aim is to become the industry standard in Augmented Reality (AR) application development, in addition to revolutionizing blockchain-based gaming, launching the most user-friendly NFT platform found to-date, and developing their own blockchain network and swap exchange. This isn’t a new project trying to build hype before delivering. Dexioprotocol has been quietly shaking up the blockchain space and setting itself apart from the rest since May 2021. In seven short months, they have successfully released: D exi Wallet, its digital wallet available now on the Apple App Store and Google Play

PROJECT 2

valorfoundation.world

D exigas (DXG), the gas token for the project for in-game transactions DexiMarketplace, an NFT marketplace for creators and collectors D XG Game Emporium, a space to purchase or resell upgradeable gaming NFTs D exiKnights, the first of its play-to-earn games currently in open beta The five products launched in the first phase of Dexioprotocol’s development cycle set the keystones for the next part of the vision. Without the DXG token, the in-game currency model is incomplete. Without the DXG Game Emporium, the strategy for NFT gaming doesn’t make much sense. The team appropriately dedicated effort (and funding) to laying the foundation during its first phase so that the full vision, the complete ecosystem, can be realized.

Valor Foundation (VALOR)

Valor_Foundation

Valor Foundation is a 100% cause-based utility project launched on BSC on January 7th, 2021, with the goal of #RepayingTheDebt to the brave men and women of service, first responders, and the families of wounded and fallen servicemen and women around the world. Over 500 holders registered in the first 12 hours after the public launch, smooth and seamless. Having the eyes, hearts, and determination of the RugSeekers Team driving this mission, we know that safety, security, and the desire to help others are at the helm. Valor launched with an initial supply of 120 million (40 million burned at launch) and a rolling LP lock with a 60-day refresh cycle. The staggering 1300 BNB presale funds went to liquidity, with 10% going to marketing and charity. Each transaction is taxed by 10%, which breaks down into 5%

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dexioprotocol

Valor_World

for self-reflection and 5% for project allocation. The distribution is broken down into 30% charity, 30% liquidity, 20% marketing/ development, and 20% operations. The charity wallet has accumulated 65 BNB within 24 hours of launch and maintains a 75% LP to MC ratio! Valor Foundation already has its 501 (c)3 certification, and an industry-standard Certik audit is in progress. This team takes a proactive approach with so much potential to leave a positive impact for so many worldwide, and it's apparent that this isn't "just another charity cryptocurrency." It is a professional organization of selfless people on the team and a community that aspires to change how we view charitable cryptocurrencies. It is a great honor to give back to those whose way of life has preserved my freedom to participate in crypto while adding a great utility to my portfolio.

January 2022 | Volume 09


32

BEGINNERS GUIDE Crypto Weekly

5

Quick Tips

For Crypto Newbies C

rypto can seem intimidating to many due to certain complexities and technical jargon, but there are plenty of resources online that can help guide beginners through the process step by step! It may not happen overnight, but once investors get started with crypto, it can become addicting quickly! If you're thinking about investing in crypto but don't know where to start, here are some things for you to consider before buying your first coin.

1.  Stay Informed; DYOR The cryptocurrency world is full of information that can overload your brain with sometimes conflicting opinions from people who might not understand what they're talking about. It can be challenging to find reliable sources on this topic, especially when so many new altcoins are released seemingly daily. Then there are the scammers out there looking to make money from

your inexperience. It would help if you had a way to separate the wheat from the chaff. We recommend that you read various sources and do your own research. The more you read and absorb, the more comfortable you will become making financial decisions. Of course, we here at Crypto Weekly hope that our publication will continue to be on your list of trusted sources!

2.  Like A Good Boy Scout; Be Prepared For Anything! Like stocks or commodities, a cryptocurrency’s value is affected by the market's sentiment. This means it is more susceptible to big swings in value than conventional currency. Therefore, cryptocurrency is not for everyone who wants a stable investment; however, it does provide another way for people to diversify their portfolios and potentially profit from short-term changes in value. Even seasoned crypto traders and holders have difficulty predicting trends in these virtual coins, so don't be alarmed if you find yourself in the same situation.

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You need to know how to react when big price changes occur.

3.  Consider Diversification As a newbie cryptocurrency investor, you may want to consider diversifying your portfolio. If you put all of your money into just one or two cryptocurrencies, then you are potentially taking a considerable risk. If something happens with one of those cryptocurrencies and it fails, you can lose a lot of money quickly. However, if you have a solid portfolio of cryptocurrencies with differing utilities, you spread the risk and decrease the likelihood of them all dropping in value at once. The bottom line, do your own research!

4.  Protect Your Investment There are different types of crypto wallets, and they each have their own pros and cons. As a beginner, you need to

understand the difference between hot wallets and cold storage before making your first cryptocurrency investment.

5.  Stay Alert

A cryptocurrency wallet connected to the internet is referred to as a hot wallet. A cold wallet refers to a cryptocurrency wallet that isn't online and can be accessed only by an offline computer or ledger hardware. Hot wallets are more vulnerable because they have the possibility of being hacked but offer more conveniences as your funds can be accessed from anywhere with an internet connection.

With every passing day, the world is moving closer to becoming cashless. While there are both pros and cons to this modernization of the economy, one thing is for certain: the amount of fraudsters taking advantage of unsuspecting individuals in this digital era grows by the minute. The dangers that cyber criminals pose can be daunting, but with your investments in cryptocurrencies, you should be extra vigilant when it comes to monitoring what's happening with your crypto assets.

In comparison, cold wallets may not be as convenient as they require physical access to the hardware device for you to make transactions. Still, they shield the funds from being stolen by hackers as it's not connected to the internet, making them less susceptible to security issues that affect hot wallets.

Keep an eye out for any suspicious activity on exchanges or online wallets where you store your cryptos. Ensure security protocols are set up on all devices related to your virtual currencies so as not to leave yourself vulnerable to a possible attack from cyber crooks looking to steal from you.

Stay Smart, Stay Safe! When getting started with cryptocurrencies, it's essential to understand how they work and their potential before diving right in. There are many different types of coins or tokens out there—some more valuable than others—and it takes time and research to find out which ones will best suit your investment goals. But don't worry! You'll get there with patience and knowledge and, of course, the great articles and information you'll find right here in Crypto Weekly.  

www.cryptoweeklymag.com

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34

FEATURE Crypto Weekly

Manifest Performance indicators, balance sheets and regulator guidelines are not the most appealing things to hear about in crypto, but it's necessary for us to operate correctly. Bouncing off of that, there is a certain appeal to a crypto that has its ducks in a row. Countless projects are removing general quality and value from their project and replacing it with marketing and high spirits. We are happy to get people pumped up about crypto, but it has to be done the correct way. For example, you want to tell people key things of what to look for when considering their vote of confidence in that particular crypto. Who is the team? Previous quality projects completed? Are they purely marketing? Is the use case frantically thought of or flimsy? Does the team have a vision of expansion in the future? Does the project rely on people's addiction?

Of course, this isn’t financial advice, but we feel you should have a checklist that you are checking off when you inspect a project. This can be as vast as you want it to be and ultimately can be tuned to your liking. This can be personal auditing procedures or standardized trading strategies. These steps take time to curate correctly and can benefit the user greatly. A simple checklist. Of course you can bend your own rules, but these rules protect you from overvalued and hollow projects. The goal of most of the projects we currently see is short term, under established and widely false. Crypto is fast, this doesn't mean you can forget the key factors of a trade and fundamentals of crypto. Never mistake a tax on a taxation token as a use case or utility.

All that brewing has ultimately led to the market's sour taste and low level mentality. The key to leveling the playing field is a short and sweet one, actually educating people on crypto. A lot of projects will detest what we have to say about them in a formal audit. We have decided to audit any project or firm that audits us, to help people better understand the process. As we pay for more intense auditing services, we can perform even deeper audits of these projects. Meaning, we will bring you the truth. This is going to make us naturally unpopular, we are crypto veterans, we will be alright. We buy the dip!

In summary, don't trust us, or anyone else until you know their tokenomics and team. This is the most basic level of understanding the project. Please make efforts to learn more about the cryptocurrency space overall. We will be in the telegram often to answer people's questions. We don't allow posting of other projects in the group, but if you bring your checklist to us, we can help refine that with you.

Redutoken.com Redutoken.com January 2022 | Volume 09

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NEWS Crypto Weekly

The cheapest piece of metaverse land you can buy is going for a whopping $11,000 Natasha Dailey Fri, January 7, 2022, 7:58 AM·2 min read

Decentraland is one of the most popular metaverses.

Fortune found that the cheapest plots of metaverse land sell for about $11,000.

On popular platforms like Decentraland and Sandbox, 1x1 parcels are the smallest.

Some virtual parcels sell for millions of dollars.

Metaverse land plots sell for about $11,000 at the lowest price. Sandbox and Decentraland, two of the metaverse's leading platforms, currently sell the smallest plots of land for 3.7 Ether and 3.46 Ether, respectively, translating to roughly $11,717 and $10,957, respectively, according to a report citing Meta Metric Solutions' data.

The smallest size of land available in these digital worlds is a 1x1 plot of land, which translates to 96 square meters in the Sandbox and 16 square meters in Decentraland for a user's avatar, Fortune found. In March last year, these small plots of land sold for a fraction of an Ether, or less than $1,000, the report said.

When he begins renting out land in high-traffic virtual areas, one metaverse entrepreneur says he expects his digital real estate portfolio to be worth ten times what he paid for it.

At the time of publishing, Fortune's story showed land selling for at least $13,000, but Ethereum prices have since slumped amid a broader crypto rout. Meta Metric Solutions did not immediately respond to Insider's request for data.

January 2022 | Volume 09

DappRadar reports that virtual land has become a "hot commodity," with parcels selling for hundreds of thousands of dollars or even millions of dollars. Insider said previously that a plot of land in the Sandbox went for a record $4.3 million in November.

The hype surrounding the metaverse, a digital world where people can live, work, and play as avatars, has exploded since the company formerly known as Facebook rebranded to Meta in response to concerns about the future of the internet, also known as Web3. This article first appeared on Business Insider.

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FEATURE

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Crypto Weekly

Have you made a killing with crypto in 2021? Here's how you can calculate your taxes Kate Dore or 20% based on your taxable income. When assets are sold or exchanged within one year, short-term capital gains are triggered, which are taxed at regular income rates, up to 37% for top earners.

Underreporting

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lthough institutions such as the IMF embrace its innovation, they are also warning investors to exercise caution. Recent years have seen a significant expansion of the crypto ecosystem. The value of digital assets soared past $2 trillion in November, with Bitcoin reaching an all-time high of $69,000 and Ether climbing to nearly $5,000. Even though prices dropped in December, investors still saw significant year-over-year growth. Even though 2021 was a record-breaking year for cryptocurrency, many investors will soon have to pay a hefty tax bill.

Here are some more tips from Smart Tax Planning: The enrolled agent Adam Markowitz, vice president at Howard L Markowitz PA, CPA in Leesburg, Florida, said, "Be prepared to pay some tax." But calculating your balance can be tricky, mainly if it was a year of heavy trading.

Taxes imposed on cryptocurrency "When cryptocurrency is exchanged or sold at a profit, it may be subject to capital gains taxes. Suppose you trade digital coins, cash out to U.S. dollars or

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make a purchase. In that case, it may be a taxable event," said Matt Metras, an enrolled agent and cryptocurrency tax specialist at MDM Financial Services in Rochester, New York. Most cryptocurrency investors trade digital coins frequently, with about one-third trading weekly or monthly and almost a quarter trading daily. The tax rate for cash is determined by its basis minus its value once it is sold or exchanged. If you hold the currency for more than a year, you are subject to long-term capital gains rates of 0%, 15%,

When cryptocurrency is exchanged or sold at a profit, it may be subject to capital gains taxes. Suppose you trade digital coins, cash out to U.S. dollars or make a purchase. In that case, it may be a taxable event

Matt Metras Enrolled agent and cryptocurrency tax specialist at MDM Financial Services in Rochester, New York

The biggest problem with crypto taxes is that many investors don't keep records of their transactions, and exchanges have difficulty tracking assets moving between wallets and brokers. Metras explained that if you bought Bitcoin on Coinbase, transferred it to your wallet, and then moved it to Gemini, the second exchange would not know the original purchase price. The deadline for Form 1099-B, which brokers use to report an investor's profit and loss, is Jan. 31, but it is unclear which crypto exchanges will issue these forms for 2021.

Crypto taxes: how to calculate them If exchanges don't provide Form 1099B, you may be left with each broker's spreadsheet of transactions or other reporting options, which may still be challenging to reconcile. "The best thing to do is try to reverse-engineer it," said Metras. You can reconstruct records by importing each exchange's files into crypto tax reporting software.

Tax tips for cryptocurrency investors Metras said a big mess is overwhelming. According to Markowitz, several companies can provide Form 8949 to summarize crypto activity and file your taxes. However, errors may be possible, and the reporting may not be sufficient for an IRS audit, he added. This article first appeared in CNBC

January 2022 | Volume 09


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FEATURE Crypto Weekly

"Last year China, which had been the world's biggest cryptocurrency miner, instigated quite a sweeping crackdown on cryptocurrency mining. And that meant that a lot of mining companies fled China for other countries with cheap electricity. In central Asia, Kazakhstan is one of those places."

The Kazakh government is cracking down on cryptocurrency miners Tom Wilson

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azakhstan's cryptocurrency mining industry has been hit hard by the recent shutdown of its internet during a deadly uprising. The global computing power of the Bitcoin network plunged as a result. As a whole, cryptocurrencies are becoming more sensitive to geopolitical factors than in the past. In 2017, Kazakhstan became the world's secondlargest Bitcoin mining center after the U.S. According to a study from the University of Cambridge last year, Kazakhstan accounted for about 20 percent of Bitcoin's global computing power in August. This is up from about eight percent in April, so there is a significant increase in the number of Bitcoin miners in Kazakhstan. The move followed the clampdown on crypto mining activity in China, one of the major hubs. Bitcoin and other cryptocurrencies are created

January 2022 | Volume 09

or "mined" by high-powered computers. In different parts of the world, big data centers compete to solve complex mathematical puzzles in a highly energy-intensive process. "Last year China, which had been the world's biggest cryptocurrency miner, instigated quite a sweeping crackdown on cryptocurrency mining. And that meant that a lot of mining companies

fled China for other countries with cheap electricity. In central Asia, Kazakhstan is one of those places." A recent uprising in Kazakhstan began with protests against a New Year's Day hike in fuel prices. On January 5th, the internet was shut down across the country. The move likely prevented Kazakhstan-based miners from accessing the Bitcoin network. "And as the internet was shut off on Wednesday, the global computing power of Bitcoin slumped pretty dramatically. That in theory makes it easier for miners to produce Bitcoin, and it might lead in the future to more Bitcoin coming to the market, and that in theory would create downward pressure on Bitcoin prices." On January 7th, it slumped as much as 5% to its lowest since late September, tumbling under $41,000 amidst a broader sell-off for cryptocurrencies. Security forces appeared to have reclaimed the streets of Almaty, Kazakhstan's central city, after days of violence. "And it's still actually quite unclear exactly the extent to which geopolitical factors really feed into this, but we can see from what's happened in Kazakhstan recently and also with the wider crackdown on cryptocurrencies by China last year, that the attitude of governments and financial regulators towards cryptocurrencies can really impact on cryptocurrency markets." This article first appeared in https:// www.reuters.com/.

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NEWS Crypto Weekly

Sotheby's auction to use crypto-crowdsourcing funding could legitimize digital currency Yaёl Bizouati-Kennedy

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otheby's will auction a copy of the Constitution that cryptocurrency investors have crowdsourced. Sotheby's states that this is one of only 13 official editions of the U.S. document still existing, from a printing of 500 issued for submission to the Continental Congress and for use by the delegates to the Constitutional Convention. Proceeds from the auction will go to a charity established by the current owner. The property's current owner estimates its value between $15 and $20 million. The ConstitutionDAO, a decentralized autonomous organization (DAO), collects money to win the auction. ConsenSys describes DAOs as community-led organizations without a central authority. Additionally, smart contracts are fully autonomous and transparent: they define the rules, execute the agreed-upon decisions, and at any time, proposals, votes, and even the code itself can be audited by anyone.

January 2022 | Volume 09

According to ConsenSys, a DAO is ultimately governed by its members, who collectively decide the project's future, such as technical upgrades and treasury allocations. As stated on ConstitutionDAO's website, "We intend to place The Constitution in the hands of The People." The authors point out that decentralization and cryptocurrencies (web3) "have created new structures that empower individuals to govern themselves with unparalleled levels should use we should use this technology to safeguard the greatest historical tool for human government: the U.S. Constitution." As of today's price, the group has raised 1,254 ETH or $5.4 million from a Gnosis Safe wallet on Juicebox. If the DAO doesn't win the auction, donors will return funds. Mark Elenowitz, president of global exchange and trading app for crowdfunded securities Horizon Fintex/Upstream, told GOBankingRates that purchasing a copy of the U.S.

Constitution would be a huge symbolic step in the battle for the legitimization of crypto. "It would bring a lot of attention to the crypto world, and introduce a lot of new people to the concept of a DAO, allowing the democratization of blockchain to the masses. This is the sort of move that can get a lot of people excited about the possibilities that crypto unlocks," Elenowitz said. "Cryptocurrencies may reshape our financial system as dramatically as democracy changed our political system, so owning a document that changed history is powerful symbolism. In addition, it signifies how crypto is taking over traditional finance. In 200 years, an NFT of Satoshi's original whitepaper might be the equivalent of the Constitution," he added. This article first appeared on gobankingrates

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NEWS

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Crypto Weekly

A swarm of sunflower farmers accidentally attacks Polygon Andrew Thurman

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blockchain generally known for its high throughput has been slowed by a blockchain game based on blockchain. Since Tuesday, there have been reports of failed transactions and deteriorated performance on the Polygon blockchain.

days, a non-fungible token that clogged the Ethereum network with "breeding" and trading-related transactions.

Unlike complex financial products like Solana or NFT drops that clog Ethereum for hours at a time, Sunflower Farmers is a simple resource-gathering game that uses blockchain transactions for ingame actions. This has been compared to an unintentional distributed denial of service (DDOS). Sunflower Farm did not return a comment request by press time.

However, both Polygon's throughput and Sunflower Farm's strain are orders of magnitude greater than last year's game-related blockchain congestion. The transaction cost on Polygon has increased from fractions of a cent to roughly 500 gwei, or $0.50. Moreover, more than 200,000 accounts have transacted on the Polygon chain in a single week, representing a 60% gain in active addresses. According to current speculation, numbers of those addresses have been attributed to bots.

The blockchain-wide slowdown is reminiscent of CryptoKitties in the early

In the blockchain gaming industry, botting play-to-earn games -

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creating accounts that are controlled programmatically to earn in-game rewards - is endemic, with games like Axie Infinity and Alien Worlds incapable of distinguishing between players and computers. Dan Elitzer of Nascent commented on Polygon's high throughput, saying, "If you make global state and computation free, people will do stupid things until they break or the price increases enough to make them stop." Likewise, another Delphi Labs developer mentioned how more games should have applicationspecific chains, such as Axie Infinity's Ronin. This article first appeared on Yahoo.

January 2022 | Volume 09


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NEWS Crypto Weekly

Metaverse-focused cryptos such as Mana benefit from the Facebook name change Yaёl Bizouati-Kennedy

BlackSalmon / Getty Images/iStockphoto

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etaverse-focused crypto Mana is one of the clear winners from Facebook's rebranding as Meta in the end of October. CNBC reports that Mana reached an alltime high of $4.16 on Saturday evening, up 400% from where it was trading shortly after Facebook announced that it was changing its name to Meta. The Mana token is the currency for Decentraland, a virtual reality platform powered by the Ethereum blockchain, which allows users to create, experience, and monetize content and applications. In this virtual world, users purchase plots of land that they can later navigate, build upon and monetize, according to its whitepaper. Explaining its rationale in the whitepaper, Decetraland says that “the development of large proprietary

January 2022 | Volume 09

platforms, such as Facebook, has allowed hundreds of millions of users to gather, interact, share content, and play games. Their network effects helped cultivate vast online communities and gaming companies. These platforms, controlled by centralized organizations, manage the network’s rules and content flow, while extracting significant revenue from the communities and content creators who drive traffic to the platforms. Decentraland aims to establish a network that allows its content creators to own and capture the full value of their contributions.” End of October, Facebook CEO Mark Zuckerberg announced the name change, saying it “brings together our apps and technologies under one new company brand. Meta’s focus will be to bring the metaverse to life and help people connect, find communities and

grow businesses. The metaverse will feel like a hybrid of today’s online,” according to an announcement. CNBC reports that crypto investors view Facebook’s rebrand as a sign of growing acceptance of the metaverse trend and Mana, a metaverse-focused crypto rallied thanks to the increased interest. Vijay Ayyar, head of Asia Pacific at cryptocurrency exchange Luno, said mana and other metaverse-focused cryptocurrencies’ surge following Facebook’s announcement, is a sign of growing acceptance of the metaverse trend, according to CNBC. "This seems like a vote of confidence by both speculators and investors that this concept of a metaverse is now taking a serious turn in terms of reaching mainstream consciousness and - soon adoption," Ayyar told CNBC.  

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FEATURE

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Crypto Weekly

What will happen when the next Bitcoin halving occurs? Oyinloye Bosun

Bitcoin while preventing extreme price inflation simultaneously. The halving's impact on block reward, on the other hand, tends to have longterm positive effects on the price of Bitcoin. There are a lot of theories as to why. Still, one standard theory is simple supply and demand: If fewer Bitcoins are being produced, the newly increased scarcity automatically makes them more valuable. But this takes a bit of time to begin materializing.

What will happen during the next halving?

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itcoin users and miners are all familiar with the term Bitcoin halving and what it means for Bitcoin. Halving is one of the most highly anticipated events in Bitcoin history. Due to this event, the amount of Bitcoin in circulation does not increase exponentially. Here's why there's so much fuss about the Bitcoin halving, how it works, and what will happen during the next halving in 2024.

What does 'the halving' mean? Bitcoin utilizes synthetic inflation that halves every four years until all Bitcoin is released and in circulation. Bitcoin halving limits the supply of new coins by reducing the reward of mining Bitcoin as more blocks are mined, so if demand remains high, prices may rise. After two hundred and ten thousand blocks have been mined, the Bitcoin rewards are halved.

How does a Bitcoin halving work? Let's explain how a coin is acquired so that you can better understand halving. Bitcoin miners dig into Bitcoin's digital cave to unearth Bitcoin using specialized mining equipment as a virtual pickaxe. Bitcoin miners have to solve the network's highly complex mathematical equations to complete the blocks that

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are added to Bitcoin's blockchain. A block refers to a file that stores or keep one megabyte worth of Bitcoin transactions. As more and more transactions are verified, Bitcoin's network also increases in size. After successfully confirming transactions, which usually takes 10 minutes, miners will receive Bitcoin as their reward. Now, in the process called Bitcoin halving, the rewards earned by miners fall by half after a set of 210,000 blocks is mined or roughly every four years. Satoshi Nakamoto (pseudonym) set an artificial limit on the number of Bitcoins that could ever be created. Around 2040, that limit of 21 million Bitcoins will be reached. Miners will then no longer receive Bitcoin rewards for their efforts. Rewards will likely be in the form of transaction fees, similar to how credit card companies currently charge for transactions.

What do I need to know about a Bitcoin halving? Some things surround a Bitcoin halving, and two of the most important are precisely why a Bitcoin halving occurs and its impact on the value of BTC. To answer the first, Bitcoin must halve to reduce the number of new Bitcoins being produced by the network. It cuts the supply to ensure the scarcity of

Most investors believe the value of Bitcoin will increase, and it may achieve better growth between now and its fourth halving in 2024. This is based on its track record over the years and with the results from the first and second halving events. At both times before now, there were massive surges in the price of Bitcoin. The first halving in 2012 saw an increase in the price of Bitcoin from $12 to about $1,150 within a year. The second halving in 2016 saw a Bitcoin price to almost about $20,000, which eventually dropped to $3,200. Furthermore, there is no precise date for when the reward for mining a block will be cut in half. It depends on when the 210,000th block since the last event is mined. Considering that new Bitcoins are mined roughly every 10 minutes, the next halving is expected to happen sometime in early 2024, and a miner's reward will drop to 3.125 BTC. Bitcoin investors or traders should remember that a halving often comes with a sizable amount of instability and turmoil for cryptocurrency. A Bitcoin halving is a much-anticipated event happening every four years, with the first one occurring in 2012. It's part of the virtual currency programming to keep its total supply fixed. However, the truth is that no one can say that this is precisely what will happen after the halving and the weeks and months that follow, even though halving events have, historically, caused significant fluctuations in the price. This article first appeared in Yahoo

January 2022 | Volume 09



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